Following U.S. Stocks were among the “Top Gainers” during Monday’s trade: RTI International Metals, Inc (NYSE:RTI), Sterling Construction Company, Inc (NASDAQ:STRL), Arca Biopharma Inc (NASDAQ:ABIO), Globalstar, Inc (NYSEMKT:GSAT)
Their insights are depicted underneath:
RTI International Metals, Inc (NYSE:RTI)’s shares picked up 39.30%, and closed at $38.00, hitting new 52-week high of $38.87.
According to Wallstreet Journal, Alcoa Inc. said Monday that it would attain Pittsburgh-based RTI International Metals, Inc. (RTI), one of the world’s biggest makers of fabricated titanium products for the aerospace industry, in a transaction with an enterprise value of $1.5 billion.
Lightweight, high-performance metals leader Alcoa (AA) through BUSINESS WIRE released this attainment news.
In press release it is stated that, Under the terms of the contract, Alcoa will attain all outstanding shares of RTI in a stock-for-stock transaction. RTI shareholders will receive 2.8315 Alcoa shares for each RTI share, representing a value of $41 per RTI share based on Alcoa’s closing price on March 6, 2015. The transaction has an enterprise value of $1.5 billion, counting $330 million of RTI cash on hand and up to $517 million in RTI’s convertible notes.
RTI International Metals, Inc. produces and supplies titanium mill products; and manufactures fabricated titanium and specialty metal components worldwide.
Sterling Construction Company, Inc (NASDAQ:STRL), raised 24.81%, and closed at $3.22.
Through BUSINESS WIRE, Sterling Construction Co. Inc. (STRL), declared that Paul J. Varello, who was elected acting CEO in February, has reached a multi-year employment contract with the Corporation effective March 9, 2015. In connection with the change in his status, Mr. Varello has resigned as Chairman, and the Board has elected Milton L. Scott, who is Chair of the Board’s Audit Committee, Chairman of the Board of Directors.
To further align his interests with those of shareholders, Mr. Varello’s employment contract calls for an annual salary of $1.00, and an award of 600,000 shares of restricted ordinary stock that vests over three years, and that will be subject to the approval of the Corporation’s stockholders at the Annual Meeting of Stockholders on May 8, 2015.
Mr. Varello, who has been a member of Sterling’s Board since January 2014, was named Board Chairman in December 2014 and as noted, became acting Chief Executive Officer on February 1, 2015. He has spent his entire career in the construction industry, after spending much of his youth working in his family’s road-building business. He spent 18 years with Fluor Corporation (FLR), a Fortune 500 corporation that provides engineering, procurement, construction, maintenance, and project administration services. Mr. Varello started with Fluor as a project construction manager, and rose to President of the Process Sector. He was Chairman and CEO of American Ref-Fuel Corporation, a Houston, Texas-based 50/50 joint venture between Air Products & Chemicals and Browning Ferris International that was involved in the development, design, construction and operation of plants that converted solid municipal waste into energy. In May 2003, he founded Commonwealth Engineering & Construction, LLC (CEC), a Houston-based engineering and construction administration corporation specializing in the design and construction of major capital projects. Mr. Varello is a graduate of the Villanova University College of Engineering and Harvard Business School’s Advanced Administration Program, and is a Registered Professional Engineer in California, Texas and Louisiana.
Milton Scott is one of the Audit Committee’s two financial experts, and has been a director of the Corporation since 2005. He was a partner of Arthur Andersen, LLP from 1977 to 1999, and since then has had extensive experience as an executive, a director and chairman of various companies. In addition to his new role, Mr. Scott will remain Chair of the Audit Committee.
Sterling is a leading heavy civil construction corporation that specializes in the building and reconstruction of transportation and water infrastructure projects in Texas, Utah, Nevada, Arizona, California, Hawaii, and other states where there are construction opportunities. Its transportation infrastructure projects comprise highways, roads, bridges and light rail and its water infrastructure projects comprise water, wastewater and storm drainage systems.
Arca Biopharma Inc (NASDAQ:ABIO), enhanced 9.77%, and closed at $0.950. The company holds the book value per share of 0.82, whereas cash per share is 0.81. Price to book value is estimated to be 1.16. Analysts mean recommendation for the stock is said to be 2.00 (where 1=Buy, 5=sale).
ARCA is dedicated to developing genetically-targeted therapies for cardiovascular diseases. The Corporation’s lead product candidate, GencaroTM (bucindolol hydrochloride), is an investigational, pharmacologically unique beta-blocker and mild vasodilator being evaluated as a potential treatment for atrial fibrillation in the Phase 2B/3 GENETIC-AF clinical trial, which is enrolling patients in the United States and Canada. ARCA has identified ordinary genetic variations that it believes predict individual patient response to Gencaro, giving it the potential to be the first approved genetically-targeted atrial fibrillation prevention treatment. ARCA has a partnership with Medtronic, Inc. for support of the GENETIC-AF trial.
Globalstar, Inc (NYSEMKT:GSAT), rose 9.45%, and closed at $3.01.
Through GLOBE NEWSWIRE, Globalstar Inc. (GSAT), declared its financial and operating results for the fourth quarter and year ended December 31, 2014.
FOURTH QUARTER FINANCIAL REVIEW:
Proceed for the fourth quarter of 2014 was $22.1 million contrast to $21.0 million for the fourth quarter of 2013, an raise of 5%, which was driven by raises in both service proceed and subscriber equipment proceed.
Service proceed was $17.2 million for the fourth quarter of 2014 contrast to $16.8 million for the fourth quarter of 2013. The primary driver of this raise was growth in SPOT service proceed, which raised 7%. The growth in SPOT service proceed was due to an 8% raise in subscribers from December 31, 2013 to December 31, 2014. The raise in the SPOT subscriber base was driven predominantly by the market introduction of the SPOT Trace product in late 2013. Net quarterly subscriber additions raised 40% from about 13,600 to about 19,000. Fourth quarter 2014 service proceed growth also reflected both Duplex and Simplex proceed growth, which raised 2% and 14%, respectively, due primarily to raises in subscribers. The raises in Duplex, SPOT and Simplex service proceed were offset partially by a decrease in other service proceed. Driving the majority of the decrease in other service proceed for the fourth quarter of 2014 as contrast to 2013 was a decrease in third-party proceed of $0.2 million, in addition to a non-cash, out of period adjustment to proceed related to an international partner of $0.4 million.
Subscriber equipment sales proceed was $4.9 million in the fourth quarter of 2014, an raise of 17% from the fourth quarter of 2013. Simplex equipment sales proceed, which was the largest contributor of the total raise, grew 48% due to higher priced units being sold in the fourth quarter of 2014 as contrast to the same period in 2013. Also contributing to the total raise in equipment sales proceed was a 9% raise in SPOT equipment sales proceed.
Globalstar provides mobile satellite voice and data services. Globalstar offers these services to commercial customers and recreational consumers in more than 120 countries around the world. The Corporation’s products comprise mobile and fixed satellite telephones, simplex and duplex satellite data modems, flexible airtime service packages and the SPOT family of mobile satellite consumer products counting the SPOT Satellite GPS Messenger.
