On Tuesday, Qihoo 360 Technology Co Ltd (NYSE:QIHU)’s shares declined -3.56% to $56.67.
Qihoo 360 Technology Co Ltd (QIHU) declared that it will report its first quarter 2015 financial results on Tuesday, May 19, 2015, after the close of U.S. markets.
Qihoo 360’s administration will host a conference call to talk about the results at 7:30 a.m. Eastern Time on May 20, 2015 (7:30 p.m. Beijing time on May 20, 2015).
Qihoo 360 Technology Co. Ltd., through its auxiliaries, provides Internet services in the People’s Republic of China. The company operates through Internet Services and Others segments. It offers various Internet security products, counting 360 Safe Guard, a one-stop solution for PC Internet security and system optimization; 360 Anti-Virus, an anti-virus application that uses multiple scan engines to protect users computers against various kinds of malware; and 360 Mobile Safe, a security program for the Google Android, Apple iOS, and Windows Phone smartphone operating systems.
Molycorp Inc (NYSE:MCP)’s shares dropped -3.40% to $0.580.
Molycorp Inc (MCP) declared financial and operating results for the first quarter of 2015.
FIRST QUARTER 2015 RESULTS
The Company stated merged net revenues of $106 million, an 8% decrease over the fourth quarter of 2014. The decrease in revenues was largely driven by a shifting product mix and softened pricing for rare earths, offset in part by raised volume.
During the first quarter of 2015, the Company sold 3,436 mt of product at an ASP of $30.97 per kilogram, generating a gross loss of $25 million. This compares to sales volumes of 3,149 mt at an ASP of $36.91 per kilogram and a gross loss of $45 million during the fourth quarter of 2014.
Molycorp stated a loss attributable to common stockholders of $102 million for the quarter, or $0.42 per share. An adjusted loss per share of $0.28 in the quarter does not reflect charges for impairment of inventory at Mountain Pass, out-of-ordinary business expenses, and certain other non-cash items.
Molycorp, Inc. produces and sells rare earths and rare metal materials in the United States and internationally. The company’s Resources segment extracts rare earth minerals, counting light rare earth concentrates; rare earth oxides (REO), such as lanthanum, cerium, and neodymium-praseodymium; heavy rare earth concentrates, which comprise samarium, europium, gadolinium, terbium, dysprosium, and others; and SorbX and PhosFIX, a line of rare earth-based water treatment products.
At the end of Tuesday’s trade, Penn Virginia Corporation (NYSE:PVA)‘s shares dipped -3.29% to $5.29.
Penn Virginia Corporation (PVA) stated financial results for the three months ended March 31, 2015 and offered updates of its operations and 2015 capital plan and guidance.
Key Highlights
First quarter 2015 results contrast, as applicable, to fourth quarter 2014 results were as follows:
- Total production during the first quarter was 2.2 million barrels of oil equivalent (MMBOE), or 24,721 barrels of oil equivalent (BOE) per day (BOEPD), a 16% sequential enhance contrast to 21,314 BOEPD.
- Total production raised 17% over the first quarter of 2014 and 29%, pro forma to exclude volumes from Mississippi properties sold in July 2014.
- Eagle Ford production was 21,390 BOEPD, a 23% sequential enhance contrast to 17,459 BOEPD.
- The borrowing base under our revolving credit facility (Revolver) was recently re-determined to $425 million.
- Maximum leverage ratio covenant was relaxed through maturity in September 2017 and a new covenant was added for senior secured debt.
- At March 31, 2015, both ratios were well within the applicable covenants.
- At March 31, 2015, our pro forma financial liquidity was about $265 million after accounting for the borrowing base re-determination.
Penn Virginia Corporation, an independent oil and gas company, explores, develops, and produces crude oil, natural gas liquids, and natural gas in various onshore regions of the United States.
Athersys, Inc. (NASDAQ:ATHX), ended its Tuesday’s trading session with -2.88% loss, and closed at $1.35.
Athersys, Inc. (ATHX) declared its financial results for the three months ended March 31, 2015.
Highlights of the first quarter of 2015 and recent events comprise:
- Reached an exclusive license agreement with Chugai Pharmaceutical Co., Ltd. (“Chugai”) to develop and commercialize our MultiStem®cell therapy for the treatment of ischemic stroke in Japan, which comprised of an up-front payment of $10 million and an additional $195 million of potential future payments and royalties;
- Declared interim results from the Phase 2 clinical study of MultiStem to treat ischemic stroke demonstrating that, while failing to meet the primary endpoints of this study, MultiStem cell therapy exhibits a favorable safety profile and appears to provide substantial benefit to ischemic stroke patients offered they receive treatment within 36 hours of the stroke;
First Quarter Results
For the three months ended March 31, 2015, there was no change from the preceding year period in our revenues of $0.7 million, with both contract and grant revenues compriseent with the preceding-year period. The $10 million up-front payment from Chugai is recorded as deferred revenue at March 31, 2015, in accordance with our accounting policy for recognizing revenue for multiple element arrangements.
Athersys, Inc., a biotechnology company, focuses on the research and development activities in the field of regenerative medicine. The company’s lead platform product, MultiStem cell therapy, an allogeneic stem cell product, which is in Phase II clinical trials for the treatment of ischemic stroke and inflammatory bowel disease (IBD); and that has accomplished Phase I clinical trial for the treatment of acute myocardial infarction and hematopoietic stem cell transplant/graft-as compared to-host disease.
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