On Wednesday, Following Stocks were among the “Top Losers” of U.S. Stock Market: EveryWare Global, (NASDAQ:EVRY), Cytosorbents Corporation, (NASDAQ:CTSO), Inventergy Global, (NASDAQ:INVT), UTi Worldwide, (NASDAQ:UTIW)
EveryWare Global, (NASDAQ:EVRY), with shares declined -81.25%, closed at $0.23, hitting new 52-week low of $0.19.
Cytosorbents Corporation, (NASDAQ:CTSO), with shares dropped -31.61%, settled at $9.02.
Inventergy Global, (NASDAQ:INVT), with shares dipped -30.77%, and closed at $0.45.
UTi Worldwide, (NASDAQ:UTIW), plummeted -18.86%, and closed at $9.98.
Latest NEWS regarding these Stocks are depicted underneath:
EveryWare Global, Inc. (NASDAQ:EVRY)
EveryWare Global, Inc. (EVRY), declared that it has reached an contract with its secured lenders on a comprehensive balance-sheet restructuring that, among other things, will substantially reduce the Corporation’s long-term debt.
The prepackaged bankruptcy plan is predictable to allow the Corporation to operate its business in the ordinary course throughout the restructuring. The Corporation also believes this plan will minimize the time and expense spent in restructuring and will provide for sufficient liquidity during the restructuring.
Overview of Proposal:
On March 31, 2015, EveryWare Global and its lenders executed a restructuring support contract specifying the details of a restructuring support contract that sets forth the material terms of the Chapter 11 restructuring and of a debtor-in-possession facility to provide liquidity during the restructuring. Given the typical speed of a “prepackaged” plan of reorganization, the Corporation anticipates to emerge from bankruptcy within 60-75 days.
The plan for reorganization contemplates that after emergence from bankruptcy, the secured lenders will become the owners of 96% of EveryWare Global’s ordinary stock and that EveryWare Global will cease to be a publicly traded corporation.
EveryWare Global, Inc. provides tabletop and food preparation products for the consumer, foodservice, and specialty markets. The corporation operates through four segments: Consumer, Foodservice, Specialty, and International.
Cytosorbents Corporation (NASDAQ:CTSO)
Cytosorbents Corporation (CTSO), provides an operational summary and reports financial results for the fiscal year ending December 31, 2014.
Key Highlights for the Year Ending December 31, 2014:
- Total proceed for 2014 was $4.1 million, which comprises both product sales and grant revenue, contrast to total proceed of $2.4 million for 2013
- Product gross margins were 63% in 2014, as contrast to 61% in 2013
- Product proceeds for the fourth quarter of 2014 were about $871,000, a raise of 177% over the fourth quarter of 2013 product proceeds of about $314,000
- Up-listed to the NASDAQ Capital Market in December 2014, providing an ideal platform from which to broadly communicate our exciting story to potential investors
- Ranked #11 amongst Forbes’ Best-Performing Biotech Stocks of 2014 with a total return of 218.4%
CytoSorbents Corporation, a development stage corporation, is engaged in the research, development, and commercialization of medical devices with its platform blood purification technology incorporating a proprietary adsorbent polymer technology.
Inventergy Global, Inc. (NASDAQ:INVT)
Inventergy Global, Inc. (INVT), declared that it has reached definitive contracts with several institutional investors and accredited investors to purchase a total of $2.15 million of ordinary stock of the Corporation, comprising of 4,673,914 shares of ordinary stock at $0.46. Gross proceeds will be about $2.15 million, which the Corporation intends to use for working capital purposes in support of its intellectual property (IP) licensing strategies. The closing of the offering is predictable to take place on or before April 7, 2015, and is subject to the satisfaction of customary closing conditions.
Joe Beyers, Chairman and CEO of Inventergy, said, “We are extremely happy by this round of funding that provides us additional resources to pursue the various deals in our current pipeline. This strengthens our ability to move those discussions along. We look forward to keeping our shareholders and prospective investors updated and are committed to becoming the leading industry standard in technology IP licensing.”
Inventergy Global, Inc., an intellectual property (IP) corporation, identifies, invests in, attains, and licenses patented technologies. It is engaged in structuring an IP licensing and value creation strategy for particular assets; applying IP and business expertise and best practices; leveraging industry relationships; accessing industry resources; and determining value of IP.
UTi Worldwide Inc. (NASDAQ:UTIW)
UTi Worldwide Inc. (UTIW), stated financial results for the fourth quarter and fiscal year ended January 31, 2015.
Fiscal Full Year 2015 vs. 2014 Results:
- Proceeds reduced 5.8% to $4,179.8 million from $4,435.6 million
- Net proceeds (proceeds minus purchased transportation costs) reduced 4.0% to $1,457.6 million from $1,517.8 million
- On a constant currency basis, proceeds reduced 3.2% percent and net proceeds reduced 0.5%, respectively
- Net loss attributable to UTi Worldwide Inc. raised to $203.2 million from $83.3 million
- Diluted loss per share raised to $2.04 from $0.80 per diluted ordinary share
- Severance and other costs raised to $51.2 million from $29.6 million
- Earnings before interest, taxes, depreciation and amortization, not including severance and other costs (adjusted EBITDA), reduced to $20.2 million from $90.7 million.
UTi Worldwide Inc., through its auxiliaries, provides non-asset-based supply chain services and solutions worldwide. It operates in two segments, Freight Forwarding, and Contract Logistics and Distribution.
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Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
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