Insights about U.S. Stocks that landed in the Red-Zone during Thursday’s trade, are depicted underneath:
GFI Group Inc (NYSE:GFIG)’s shares dwindled -5.92%, and closed at $5.72.
GFI Group Inc. (GFIG): Formerly on February 27, BGC Partners, Inc. (BGCP), a leading global brokerage corporation servicing the financial and real estate markets, and GFI Group Inc. (GFIG) a leading intermediary and provider of trading technologies and support services to the global OTC and listed markets, recently declared the successful completion of BGC’s tender offer for GFI shares.
As of the expiration of the tender offer at 5:00 PM on February 26, 2015, about 54.6 million shares were tendered following the offer. The 54.6 million tendered shares, together with the 17.1 million shares of GFI ordinary stock already owned by BGC, represent about 56.3% of GFI’s outstanding shares. BGC has accepted the shares and anticipates to issue payment for the shares tendered on March 3, 2015. In addition, GFI employees holding RSUs will receive $6.10 per RSU in cash, based on their pre-existing vesting plans. All outstanding conditions of the tender offer have been met.
GFI will be a controlled corporation and operate as a division of BGC, reporting to Shaun Lynn, President of BGC, and its financial results will be merged as part of BGC. Going forward, BGC and GFI are predictable to remain separately branded divisions. GFI’s current Executive Chairman, Michael Gooch, and its current Chief Executive Officer, Colin Heffron, will remain as Executives and Directors of GFI Group and shall continue as Chairman and CEO, respectively, of the GFI Division. Mr. Gooch shall also hold the title of Vice Chairman of BGC Partners, L.P.
Howard Lutnick, Chairman and Chief Executive Officer of BGC, said: “We are extremely happy with the overwhelming support our tender offer received from GFI stockholders. We believe the combination of BGC and GFI will create a strong and diversified corporation, well positioned to capture future growth opportunities. This is a noteworthy milestone and exciting time to be a partner, stockholder and employee of BGC. Through this combination, we expect to deliver substantial benefits to customers of the combined corporation, and we expect to become the largest and most profitable wholesale brokerage corporation.”
The companies also declared that as part of the contract with GFI, Marisa Cassoni, Frank Fanzilli Jr. and Richard Magee have resigned from the GFI Board. BGC has designated six directors to the expanded eight-member GFI Board. Three of these new board members are independent directors nominated by BGC. These new board members are:
- Howard Lutnick, Chairman and Chief Executive Officer of BGC;
- Shaun Lynn, President of BGC;
- Stephen Merkel, Executive Vice President, General Counsel and Secretary of BGC;
- William J. Moran, Former Executive Vice President, JPMorgan Chase & Co.;
- Peter J. Powers, President and Chief Executive Officer, Powers Global Strategies LLC; and
- Michael Snow, Managing Member and Chief Investment Officer of Snow Fund One, LLC.
GFI Group’s financial advisor was Jefferies LLC, while Willkie Farr & Gallagher LLP acted as legal advisor to GFI Group. Greenhill & Co. acted as financial advisor to the Special Committee of GFI’s Board of Directors and White & Case LLP acted as the Special Committee’s legal advisor.
BGC Partners is a leading global brokerage corporation servicing the financial and real estate markets. Products comprise fixed revenue securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commercial real estate, commodities, futures, and structured products. BGC also provides a wide range of services, counting trade execution, broker-dealer services, clearing, processing, information, and other back-office services to a broad range of financial and non-financial institutions.
Biota Pharmaceuticals Inc (NASDAQ:BOTA), declined -5.88%, and closed at $2.40.
Biota Pharmaceuticals, Inc. (BOTA), a biopharmaceutical corporation focused on the discovery and development of products to prevent and treat serious and potentially life-threatening viral respiratory infectious diseases, declared that Biota CEO & President Joseph Patti will present a corporate overview at the 27th Annual ROTH Conference. The presentation will take place on Monday, March 9, 2015 at 11:00 a.m. PDT at the Ritz Carlton Hotel in Dana Point, CA.
Biota Pharmaceuticals, Inc. is a corporation focused on the discovery and development of products to treat serious viral respiratory infectious diseases. The Corporation presently has two late-stage product candidates: (i) laninamivir octanoate, which is being developed as a one-time, inhaled treatment for influenza A and B infections; and (ii) vapendavir, a potent, broad spectrum capsid inhibitor of enteroviruses in development for the treatment of human rhinovirus infected patients with underlying respiratory illnesses, such as moderate-to-severe asthma and chronic obstructive pulmonary disease (COPD).
Swift Energy Company (NYSE:SFY), dipped -5.81%, and closed at $3.24.
Formerly on February 26, Swift Energy Co. (SFY), stated its 2014 year-end and fourth quarter financial and operating results.
Fourth Quarter and Full-Year 2014 Results:
Swift Energy’s full year 2014 production was 12.39 MMBoe, an raise of 5% contrast to 2013 production of 11.75 MMBoe. Production for the fourth quarter 2014 of 3.00 MMBoe was roughly flat with third quarter 2014 levels and reduced 3% contrast to fourth quarter 2013 production of 3.09 MMBoe.
Full year production in the Eagle Ford, where about 85% of 2014 capital spending was directed, was 8.39 MMBoe, an raise of 32% from 2013 production of 6.36 MMBoe.
Terry Swift noted, “Not including the influence from our sale in Fasken to Saka Energi, Eagle Ford production would have raised 46% year-to-year. Even after this sale of production volumes, we achieved a corporate wide year end net exit rate of about 38,000 Boe/d.”
Swift Energy stated an adjusted net loss for the fourth quarter of 2014 of $10.9 million, or $0.25 per diluted share, which excludes the non-cash ceiling test write-down of its oil and gas properties of $445.4 million (a pre-tax and non-GAAP measure –for reconciliation to the GAAP measure). This compares to adjusted net revenue of $4.7 million, or $0.11 per diluted share earned in the same quarter in 2013.
Swift Energy drilled eight operated development wells in the quarter, which comprised of four wells in the Corporation’s Fasken area in Webb County and four wells in McMullen County. The corporation accomplished six wells in the quarter, all under budget, counting four in Webb County and two in McMullen County.
Swift Energy Corporation is engaged in acquiring, exploring, developing, and operating oil and natural gas properties. It focuses on oil and natural gas reserves in Texas, in addition to onshore and in the inland waters of Louisiana.
Mattson Technology, Inc (NASDAQ:MTSN), dropped -5.73%, and closed at $4.68. The company has the market capitalization of $368.77M. The beta value of the stock is 2.49. On the other hand the stock’s volatility for the week is 5.24%, and for the month is 5.71%. The stock price to book value is $4.59, however price to sale value is $1.94. Analyst’s mean recommendation regarding this stock is 2.00. (where 1=Buy, 5=Sale).




