On Tuesday, in the course of current trade, Shares of Lumber Liquidators Holdings, Inc. (NYSE:LL), gained 4.79%, and is now trading at $22.10.
Lumber Liquidators Holdings Inc.’s stock bounced sharply off multiyear lows Monday, as investors digested the company’s explanation as to why it held some wood flooring products, then relabeled them with new safety-standard certificate numbers.
In “response to inquiries,” the company issued a statement via a regulatory filing:
“Lumber Liquidators discovered in an internal review that a supplier had comprised of an inapplicable [California Air Resources Board] certificate number on the label for a limited number of engineered hardwood flooring products. This labeling issue does not impact the CARB Phase II emissions compliance for these products. After consultation with our advisors and out of an abundance of caution, we held the products until the labeling could be revised,” the company said in the filing. “The revised labels remove the inapplicable certificate number, but retain the supplier’s statement that the product is CARB Phase II compliant. We have advised the California regulators that we relabeled the products to address this matter.” MarketWatch Reports.
Lumber Liquidators Holdings, Inc., together with its auxiliaries, operates as a multi-channel specialty retailer of hardwood flooring, and hardwood flooring enhancements and accessories. It primarily offers solid and engineered hardwood products; laminate floorings; bamboo floor products, cork floorings, and vinyl plank flooring; wood flooring moldings.
During an Afternoon trade, Shares of Hercules Offshore, Inc. (NASDAQ:HERO), gained 6.72%, and is now trading at $0.70.
Hercules Offshore, declared that it received from Saudi Aramco on June 1, 2015, a notice reducing the dayrates under its five year contracts for the Hercules 261 (as declared this morning the contract was reinstated with a contract maturity date of September 29, 2019) and Hercules 262 to $67,000 per day. The reduced dayrates will apply from January 1, 2015, through December 31, 2016. Saudi Aramco also advised the Company that the dayrate for the Hercules 266 has been reduced to $67,000 per day for the remaining term of its contract.
As these dayrate concessions are effective retroactive to January 1, 2015, the Company is required to make an adjustment to its revenues for amounts earned under these contracts during the period from January 1, 2015, through March 31, 2015. This adjustment, which approximates $13 million, will be recorded in the second quarter of 2015. The Company’s financial statements as of and for the three months ended March 31, 2015, will not be affected by this concession.
Hercules Offshore, Inc., together with its auxiliaries, provides shallow-water drilling and marine services to the oil and natural gas exploration and production industry worldwide. The company operates through Domestic Offshore, International Offshore, and International Liftboats segments.
Shares of Puma Biotechnology, Inc. (NYSE:PBYI), during its Tuesday’s current trading session fell -13.37%, and is now trading at $147.24.
Puma Biotechnology, declared the presentation of positive results from the Phase III clinical trial of Puma’s investigational drug PB272 (neratinib) for the extended adjuvant treatment of breast cancer (ExteNET trial). The ExteNET trial is a double-blind, placebo-controlled, Phase III trial of neratinib as compared to placebo after adjuvant treatment with trastuzumab (Herceptin) in women with early stage HER2-positive breast cancer. The data was presented recently in an oral presentation at the American Society of Clinical Oncology (ASCO) 2015 Annual Meeting in Chicago, Illinois.
The ExteNET trial randomized 2,840 patients in 41 countries with early-stage HER2-positive breast cancer who had undergone surgery and adjuvant treatment with trastuzumab. After completion of adjuvant treatment with trastuzumab, patients were randomized to receive extended adjuvant treatment with either neratinib or placebo for a period of one year. Patients were then followed for recurrent disease, ductal carcinoma in situ (DCIS), or death for a period of two years after randomization in the trial.
Puma Biotechnology, Inc., a development stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of products for the treatment of various forms of cancer.
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