On Monday, Baker Hughes Incorporated (NYSE:BHI)’s shares declined -3.81% to $50.50.
Halliburton Company (HAL) and Baker Hughes Incorporated (BHI) declared that the companies will market for sale additional businesses in connection with Halliburton’s pending acquisition of Baker Hughes. Following the Merger Agreement, and in order to permit completion of Halliburton’s acquisition of Baker Hughes, the following additional businesses are intended to be divested: Halliburton’s expandable liner hangers business, which is part of the company’s Completion & Production Division; Baker Hughes’ core completions business, which comprises: packers, flow control tools, subsurface safety systems, intelligent well systems, permanent monitoring, sand control tools and sand control screens; the Baker Hughes sand control business in the Gulf of Mexico, counting two pressure pumping vessels; and Baker Hughes’ offshore cementing businesses in Australia, Brazil, the Gulf of Mexico, Norway, and the United Kingdom.
Baker Hughes Incorporated supplies oilfield services, products, technology, and systems to the oil and natural gas industry worldwide. The company offers drilling and evaluation products and services, which comprise drill bits for performance drilling, hole enlargement, and coring; conventional and rotary steerable systems used to drill wells; measurement-while-drilling and logging-while-drilling systems to perform reservoir navigation services; drilling optimization services; tools for coil tubing drilling and wellbore re-entry systems; coring drilling systems; surface logging; emulsion and water-based drilling fluids systems; reservoir drill-in fluids; and fluids environmental services.
Colony Capital Inc (NYSE:CLNY)’s shares dropped -6.16% to $19.80.
Starwood Waypoint Residential Trust (SWAY) and Colony American Homes (“CAH”) declared recently the signing of a definitive merger agreement (“Agreement”) to combine the two companies in a stock-for-stock transaction. In connection with the transaction, SWAY will internalize the SWAY manager. The combined internally managed company (“the Company”) is predictable to own and manage over 30,000 homes and have an aggregate asset value of $7.7 billion at the closing of the transaction. The merger is predictable to achieve estimated annualized cost synergies of $40 - $50 million.
Under the Agreement, the CAH shareholders will receive an aggregate of 64,869,583 SWAY shares in exchange for all shares of CAH. Upon completion of the transaction, existing SWAY shareholders and the former owner of the SWAY manager will own about 41% of the Company’s shares combined, while former CAH shareholders will own about 59% of the Company’s shares. The share allocation was determined based on each company’s net asset value and is not subject to adjustment. The Company’s shares will continue to trade on the New York Stock Exchange. The Company is predictable to maintain SWAY’s quarterly dividend of $0.19 per share. The transaction has been approved by the boards of both SWAY and CAH, and the terms of the internalization of the SWAY manager were negotiated and approved by a special committee of the board of trustees of SWAY. The transaction is predictable to close in the first quarter 2016. Among other things, the transaction is subject to approval of SWAY shareholders and customary closing conditions.
Colony Capital, Inc. is a publicly owned real estate investment trust. The firm invests in the real estate markets across the globe. It owns and manages a diversified portfolio of primarily real estate equity and debt-related investments.
At the end of Monday’s trade, Demandware Inc (NYSE:DWRE)‘s shares dipped -1.09% to $51.60.
Demandware®, Inc. (DWRE), the industry-leading provider of enterprise cloud commerce solutions, released the findings of its Q2 2015 Shopping Index. The Shopping Index measures digital commerce growth and identifies the trends driving that growth based on analysis of same site activity over time.
The latest Demandware Shopping Index reveals that shopper attraction, which measures the number of shoppers, was up 18% in the second quarter of 2015 over the second quarter 2014, and drove 84% of the digital commerce growth. In addition, shopper spend, which combines site visit frequency, conversion rate and average order value (AOV), grew 4% in the second quarter 2015 over the second quarter last year and drove 16% of the growth. The combination of shopper spends and shopping attraction yields the Demandware Shopping Index of +31%.
Demandware, Inc. provides enterprise-class cloud based digital commerce solutions in the United States, Germany, the United Kingdom, and internationally. It offers Demandware Commerce, a digital commerce platform that enables customers to establish and execute complex digital commerce strategies, which comprise global expansion, multi-brand and multi-site rollouts, omni-channel, and in-store operations, in addition to single platform or unified commerce platform strategies.
Lpath, Inc. (NASDAQ:LPTN), ended its Monday’s trading session with 3.80% gain, and closed at $0.199.
Lpath, Inc. (LPTN), the industry leader in bioactive lipid-targeted therapeutics, declared that the first cohort of six subjects has been dosed in the Phase 1 clinical trial with LpathomabTM. The double-blind, placebo-controlled, single ascending dose trial is designed to evaluate the safety, tolerability, pharmacokinetics and pharmacodynamics of Lpathomab in healthy volunteers. The trial also aims to establish a maximum tolerated dose for future clinical studies in patients with neuropathic pain. The trial will comprise a total of five cohorts at increasing doses.
Lpathomab is an antibody targeting lysophosphatidic acid, or LPA, a bioactive lipid that has been characterized in the scientific literature as playing a key role in nerve injury and neuropathic pain. Lpath’s preclinical studies showed strong in vivo results with Lpathomab in several different pain models, which suggest that LPA may be an attractive target across a variety of chronic pain conditions, counting diabetic peripheral neuropathy, post-herpetic neuralgia, chemotherapy-induced neuropathic pain and pain associated with lumbosacral radiculopathy. Other preclinical studies have also demonstrated the potential for Lpathomab as a treatment for traumatic brain injury.
Lpath, Inc., a biotechnology company, focuses on the discovery and development of lipidomic-based therapeutic antibodies to treat a range of human diseases in the United States.
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