On Thursday, Shares of Horizon Pharma plc (NASDAQ:HZNP), dropped -3.90% to $28.12.
Horizon Pharma, declared that its associates, Horizon Pharma, Inc. and Ghrian Acquisition, Inc., waived the “Financing Proceeds Condition” described in the Offer to Purchase in connection with the formerly declared tender offer to acquire all of the outstanding shares of common stock of Hyperion Therapeutics, Inc. (NASDAQ:HPTX) for $46.00 per share in cash, net to the seller in cash, without interest and less any applicable withholding taxes, if any. The tender offer is planned to expire at 12:01 a.m. (New York City time) on Thursday, May 7, 2015, unless further extended or earlier terminated. All other terms and conditions of the tender offer remain unchanged, counting, without limitation, the “Minimum Condition” described in the Offer to Purchase.
The tender offer is being made in connection with the Agreement and Plan of Merger, dated as of March 29, 2015, among Hyperion, Parent and Purchaser. Following the Merger Agreement, after completion of the tender offer and the satisfaction the remaining conditions set forth in the Merger Agreement, the Company will merge with and into Purchaser and all outstanding shares of Hyperion’s common stock, other than shares held by Parent, Purchaser or Hyperion, or shares held by Hyperion’s stockholders who are entitled to and properly demand and perfect appraisal of such shares following the applicable provisions of Delaware law, will be automatically cancelled and converted into the right to receive cash equal to the $46.00 offer price per share. The Board
Horizon Pharma plc, a specialty biopharmaceutical company, engages in identifying, developing, acquiring or in-licensing, and commercializing medicines for the treatment of arthritis, pain, inflammatory, and/or orphan diseases in the United States and internationally.
Shares of FireEye, Inc. (NASDAQ:FEYE), declined -3.86% to $41.30, during its last trading session.
FireEye, declared financial results for the first quarter of 2015.
First Quarter 2015 Revenue and Billings
- First quarter revenue was $125.4 million, an enhance of 69 percent from the first quarter of 2014 and above the formerly issued guidance range of $118 to $122 million. Total revenue comprised of product revenue of $40.2 million, product subscription revenue of $43.4 million, support and maintenance revenue of $19.1 million and professional services revenue of $22.7 million.
- First quarter billings were $151.6 million, an enhance of 53 percent from the first quarter of 2014 and above the formerly issued guidance range of $130 to $140 million. Total billings comprised of product billings of $38.2 million, product subscription billings of $63.7 million, support and maintenance billings of $22.8 million, and professional services billings of $26.8 million. The average contract length for new subscription and support billings was about 32 months, consistent with the first quarter of 2014.
- Deferred revenue totaled $378.8 million at the end of the first quarter, an enhance of $166.0 million, or 78 percent, from the end of the first quarter of 2014. Current deferred revenue was $217.2 million, an enhance of $95.8 million from the end of the first quarter of 2014 and comprised of $9.7 million in deferred product revenue and $207.5 million in deferred subscription, support and services revenue. Non-current deferred revenue was $161.6 million, an enhance of $70.3 million from the end of the first quarter of 2014. Non-current deferred revenue comprised of $3.9 million of deferred product revenue and $157.6 million of deferred subscription, support and services revenue.
FireEye, Inc., together with its auxiliaries, provides cybersecurity solutions for detecting, preventing, and resolving cyber-attacks. The company offers vector-specific appliance solutions that provide threat protection from network to endpoint for inbound and outbound network traffic that may contain sensitive information.
At the end of Thursday’s trade, Shares of Marathon Petroleum Corporation (NYSE:MPC), dwindled -3.86% to $98.57.
Marathon Petroleum, stated first-quarter 2015 net income attributable to MPLX of $45.6 million, or $0.46 per common limited partner unit, contrast with $34.2 million, or $0.41 per common limited partner unit, for the first quarter of 2014. First-quarter 2015 adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) attributable to MPLX were $64.2 million and distributable cash flow attributable to MPLX was $57.4 million.
On April 20, the MPLX board of directors declared a distribution of $0.41 per unit. This represents an enhance of $0.0825 per unit, or 25.2 percent, over the first-quarter 2014 distribution and an enhance of $0.0275 per unit, or 7.2 percent, over the fourth-quarter 2014 distribution. Since the partnership`s initial public offering in October 2012, the MPLX board has authorized distribution enhances for nine successive quarters, representing a compound annual growth rate of 21.9 percent over the minimum quarterly distribution established at the partnership`s formation.
MPLX accomplished a binding open season for its Cornerstone Pipeline, an organic project that will transport liquids production from the Utica Shale region in eastern Ohio to Ohio River Pipe Line LLC`s tank farm in East Sparta, Ohio, and MPC`s refinery in Canton, Ohio. The pipeline will be routed to provide the opportunity for connections to various condensate stabilization, fractionation, and cryogenic facilities, together with potential future gathering and storage facilities.
Marathon Petroleum Corporation, together with its auxiliaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Pipeline Transportation.
Finally, Viacom, Inc. (NASDAQ:VIAB), ended its last trade with -3.86% loss, and closed at $69.45.
Viacom, stated financial results for the quarter ended March 31, 2015, counting higher Media Networks revenues and a 7% enhance in adjusted diluted earnings per share. The Company’s formerly declared planned realignment resulted in a $784 million charge, and is predictable to provide ongoing annual net savings of about $350 million.
Quarterly revenues declined 3% to $3.08 billion, driven by enhances in Media Networks that were more than offset by declines in Filmed Entertainment revenues and the impact of foreign exchange. Not taking into account an unfavorable 2% impact of foreign exchange, revenues declined 1%. Media Networks revenues raised 3% to $2.45 billion, due to higher advertising revenues and associate fees. Absent an unfavorable 2% impact of foreign exchange, Media Networks revenues raised 5%. Domestic advertising revenues declined 5%, reflecting lower ratings. Worldwide advertising revenues rose 4%, reflecting an 80% enhance in international advertising revenues driven by growth in Europe, principally from Channel 5, which was attained in September 2014. Domestic associate revenues rose 5% and worldwide associate revenues grew 3%, primarily due to rate enhances.
Filmed Entertainment revenues reduced 21% to $659 million, driven by declines in television license fees and home entertainment revenues that were influenced by the number and mix of accessible titles. Not taking into account an unfavorable 4% impact of foreign exchange, Filmed Entertainment revenues declined 17%. Theatrical revenues declined 10%, due to lower carryover revenues from releases in the preceding quarter. Theatrical revenues from current quarter releases benefited from the performance of The SpongeBob Movie: Sponge Out of Water.
Viacom Inc. operates as an entertainment content company in the United States and internationally. The company creates television programs, motion pictures, short-form video, applications, games, consumer products, social media, and other entertainment content. It operates in two segments, Media Networks and Filmed Entertainment.
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