On Tuesday, in the course of current trade, Shares of SouFun Holdings Ltd. (NYSE:SFUN), dropped -6.14%, and is now trading at $7.57, after Deutsche Bank downgraded the Chinese online real estate portal to “hold” from “buy.”
The analyst firm also lowered its price target for the company to $7.20 from $9.50.
Deutsche Bank analyst Vivian Hao believes SouFun is still caught up in its business model transition despite arguably looming macro tailwinds and a moderate rebound in property market transaction volumes in China.
SouFun Holdings Limited operates a real estate Internet portal, and home furnishing and improvement Websites in the People’s Republic of China. The company offers marketing services on its Websites, primarily through advertisements to real estate developers in the marketing phase of new property developments, in addition to to real estate agencies; and suppliers of home furnishing and improvement, and other home-related products and services.
During an Afternoon trade, Shares of Celgene Corporation (NASDAQ:CELG), dipped -0.04%, and is now trading at $113.36.
Celgene Corporation, stated net product sales of $2,055 million for the first quarter of 2015. Net product sales grew 20 percent from the same period in 2014 with operational growth of 22 percent. The negative net impact of currency on net product sales was 2 percent. First quarter total revenue raised 20 percent to $2,081 million contrast to $1,730 million in the first quarter of 2014. Adjusted net income for the first quarter of 2015 raised 26 percent to $891 million contrast to $705 million in the first quarter of 2014. For the same period, adjusted diluted earnings per share (EPS) raised 29 percent to $1.07 from $0.83, on a stock split-adjusted basis.
Based on U.S. GAAP (Generally Accepted Accounting Principles), Celgene stated first quarter of 2015 net income of $719 million or $0.86 per diluted share. For the first quarter of 2014, net income was $280 million or $0.33 per diluted share, on a stock split-adjusted basis.
Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes therapies to treat cancer and inflammatory diseases in the United States and Internationally. It markets REVLIMID, an oral immunomodulatory drug for multiple myeloma, myelodysplastic syndromes (MDS), and mantle cell lymphoma; ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers; POMALYST/IMNOVID for the treatment of multiple myeloma; and VIDAZA, a pyrimidine nucleoside analog to treat intermediate-2 and high-risk MDS, and chronic myelomonocytic leukemia, in addition to acute myeloid leukemia (AML).
Shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY), during its Tuesday’s current trading session fell -0.64%, and is now trading at $69.85.
Bed Bath & Beyond, stated financial results for the fourth quarter and full year of fiscal 2014 ended February 28, 2015.
Fiscal 2014 Fourth Quarter and Full Year Results
For the fourth quarter of fiscal 2014, the Company stated net earnings of $1.80 per diluted share ($321.1 million) contrast with net earnings for the fourth quarter of fiscal 2013 of $1.60 per diluted share ($333.3 million). Net sales for the fourth quarter of fiscal 2014 were about $3.337 billion, an enhance of about 4.2% from net sales of about $3.203 billion stated in the fourth quarter of fiscal 2013. Comparable sales in the fourth quarter of fiscal 2014 raised by about 3.7%, contrast with an enhance of about 1.7% in last year’s fiscal fourth quarter. Comparable sales for the fourth quarter of fiscal 2014 comprise an approximate 0.2% unfavorable impact from the change in the Canadian currency exchange rate.
For the fiscal full year ended February 28, 2015, the Company stated net earnings of $5.07 per diluted share ($957.5 million) contrast with $4.79 per diluted share ($1.022 billion) in the full year of fiscal 2013. Net sales for fiscal 2014 were about $11.881 billion, an enhance of about 3.3% from net sales of about $11.504 billion in fiscal 2013. Comparable sales for both fiscal 2014 and fiscal 2013 raised by about 2.4%.
Cost Plus World Market was excluded from the comparable sales calculations through the end of the fiscal first half of 2013 and is comprised of starting with the fiscal third quarter of 2013. Linen Holdings is excluded from the comparable sales calculations and will continue to be excluded on an ongoing basis because it represents non-retail activity.
Bed Bath & Beyond Inc., together with its auxiliaries, operates a chain of retail stores. It sells a range of domestics merchandise, counting bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletops, basic housewares, general home furnishings, consumables, and certain juvenile products.
Finally, Idera Pharmaceuticals, Inc. (NASDAQ:IDRA), lost -2.30% Tuesday.
Idera Pharmaceuticals, stated its financial and operational results for the first quarter ended March 31, 2015.
“During the first quarter of this year, we continued to build momentum as we executed on our numerous clinical development programs focused on oncology and rare diseases,” stated Vincent J. Milano, Chief Executive Officer of Idera. “The focus and efforts of our team are leading to important milestones for our company over the next six to twelve months. We recently accomplished enrollment into the dose escalation portion of our ongoing clinical trial of IMO-8400 in Waldenstrom’s macroglobulinemia (WM) and we continue to anticipate releasing efficacy and safety data from this trial in the fourth quarter of this year.”
“We also are happy to report that we recently enrolled our first patient harboring the MYD88 L265P oncogenic mutation into our Phase 1/2 clinical trial for diffuse large B-cell lymphoma (DLBCL),” continued Milano. “We are closing in on finalizing clinical arrangements for our intratumoral TLR9 agonist development program and look forward to providing details of the first trial which we plan to initiate in the second half of this year. Our rare disease development programs are on track as we plan to initiate clinical studies in dermatomyositis (DM) and Duchenne muscular dystrophy (DMD) in late 2015 and early 2016, respectively. Finally, our team is ongoing the momentum with our gene silencing oligonucleotides (GSO) technology platform as we plan to declare our first disease indications in the second half of this year.”
Idera Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of novel therapeutics for oncology and rare diseases in the United States. It uses two proprietary drug discovery technology platforms to design and develop drug candidates, counting toll-like receptor targeting technology and gene silencing oligonucleotide (GSO) technology.
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