On Friday, Splunk Inc (NASDAQ:SPLK)’s shares declined -2.72% to $70.38.
Splunk’s ( SPLK) products are often pleasantly surprised to find that, after acclimating to the software, they start to turn up useful information that has little to do with their company’s original motivation for purchase.
Splunk’s software indexes machine data — that is, the information generated by networks, computers, mobile devices, and other “machines” within an organization. From this subset of big data, a variety of types of business intelligence can be derived, from internal IT health to network security to customer data for marketing purposes. As cases for the use of Splunk’s products continue to be proven, customer acquisition has flourished.
Operating losses and slim cash flow are acceptable in the near term
Splunk’s sales and marketing expense drain creates recurring quarterly losses, which, while not an unusual strategy for a young software company chasing market share, must still be evaluated against balance sheet resources and cash flow. In the most recent quarter, the company recorded an operating loss of $70.9 million.
With almost $865.1 million of cash and investments on hand at the end of Q1, Splunk has ample resources to incur reasonable losses while it expands its customer base. Moreover, in most quarters, Splunk manages to produce slightly positive operating cash flow. It does so by doling out stock compensation liberally to employees, which is as much a strategy to reduce cash burn as it is an incentive.
Splunk, Inc. provides software products that enable organizations to gain real-time operational intelligence in the United States and internationally. The company’s products enable users to collect, index, search, explore, monitor, and analyze data regardless of format or source users. It offers Splunk Enterprise, a machine data engine with collection, indexing, search, reporting analysis, alerting, monitoring, and data administration capabilities; and Splunk Cloud service.
Pattern Energy Group Inc (NASDAQ:PEGI)’s shares dropped -0.49% to $30.10.
Pattern Energy Group Inc. (PEGI) declared the addition of four wind power projects and two solar power projects to its list of identified Right of First Offer (ROFO) projects from Pattern Energy Group LP (“Pattern Development”). The six projects total 723 megawatts (MW). A total owned interest of 526 MW is being added to the ROFO list.
Highlights
- Expands Pattern Energy’s presence into New Mexico and Japan
- Adds 526 MW to identified ROFO list, counting 128 MW in Japan and 398 MW in New Mexico
- Six new projects comprise two solar projects and four wind projects
- All projects will have long-term power purchase agreements (PPAs)
- Enhances identified ROFO list to 14 projects with 1,346 MW of total owned capacity
Pattern Energy Group Inc., an independent power company, owns and operates power projects in the United States, Canada, and Chile. As of March 2, 2015, the company owned interests in 12 wind power projects with the capacity of 1,636 megawatts. It sells electricity primarily to local utilities. Pattern Energy Group Inc. was founded in 2012 and is headquartered in San Francisco, California.
At the end of Friday’s trade, SolarCity Corp (NASDAQ:SCTY)‘s shares dipped -0.89% to $55.86.
SolarCity Corporation (SCTY) as administrative agent (the “Administrative Agent”), and the lenders from time to time party thereto (the “Lenders”) reached a sixth amendment (“Amendment No. 6″) to that certain Amended and Restated Credit Agreement, dated November 1, 2013, among the Company, the Administrative Agent and the Lenders, and as formerly amended (the “Credit Facility”). Amendment No. 6 amends the Company’s secured revolving credit facility to, among other things, (a) allow for the enhance of the maximum size of the Credit Facility to $300 million, subject to certain conditions, (b) enhance the Short-Term Solar Bond Issuance limit to $250 million, subject to certain limitations, and enhance the total Solar Bond Issuance limit to $350 million, (c) remove the requirement to provide separate Short-Term Solar Bonds Credit Support, and allow instead to support Short-Term Solar Bonds with the Borrowing Base, (d) enhance the Capital Expenditure limit to $350 million, (e) enhance the Letter of Credit Sublimit to $60 million,
(f) change the Unencumbered Liquidity covenant to cover Short-Term Solar Bonds in addition to Aggregate Commitments, (g) clarify covenants regarding Acquisitions of Developer Projects, and (h) enhance the general Dispositions limit to $25 million.
SolarCity Corporation designs, manufactures, installs, maintains, monitors, leases, and sells solar energy systems to residential, commercial, government, and other customers in the United States. It offers solar energy systems; solar lease and power purchase agreement finance products; mounting hardware for photovoltaic panels; and related software, in addition to develops a proprietary battery administration system, which is designed to enable remote, bidirectional control of distributed energy storage that can provide benefits to customers, utilities, and grid operators.
Synta Pharmaceuticals Corp. (NASDAQ:SNTA), ended its Friday’s trading session with -2.95% loss, and closed at $2.30.
Synta Pharmaceuticals Corp. (SNTA) declared the publication in this month’s issue of Cancer Immunology Research of an in-depth review describing the rationale for pursuing the combination of Hsp90 and immune checkpoint inhibition for cancer therapy. The review article, titled “Targeting Heat-Shock Protein 90 (Hsp90) as a Complementary Strategy to Immune Checkpoint Blockade for Cancer Therapy,” is accessible online at http://cancerimmunolres.aacrjournals.org. Synta is presently studying the Hsp90 inhibitor ganetespib in several randomized studies, counting the GALAXY-2 trial, a global, randomized, multi-center Phase 3 study of ganetespib and docetaxel for the second-line treatment of advanced non-small cell lung adenocarcinoma.
The review article describes preclinical findings that suggest that proteasomal degradation of cellular client proteins associated with Hsp90 inhibition may augment antitumor immune response through raised cellular antigen expression and subsequent improved T-cell recruitment and tumor-cell recognition. The review article also explains that client proteins affected by Hsp90 inhibition comprise oncogenes that may drive expression of Programmed Death-Ligand 1 (PD-L1), a key immune checkpoint. The resulting reduction of PD-L1 expression on tumor cells may enhance T-cell mediated cytotoxic activity and complement the activity of selective anti-PD-1 or anti-PD-L1 antibody therapies. This is supported by in vivo study results, where ganetespib was found to potentiate the antitumor efficacy of anti-PD-L1 antibody treatment. In these studies, the combination of ganetespib and an anti-PD-L1 antibody displayed significantly greater antitumor activity than either individual agent, in mouse models of both colon carcinoma and melanoma.
Synta Pharmaceuticals Corp., a biopharmaceutical company, focuses on the research, development, and commercialization of novel oncology medicines for cancer patients. Its lead oncology drug candidate comprises ganetespib, an Hsp90 inhibitor, which is in Phase III clinical trial for the treatment of non-small cell lung cancer; in Phase II clinical trial for patients with hormone receptor positive metastatic breast cancer; in Phase I clinical trial for the treatment of HER2 positive patients with metastatic breast cancer; in Phase II/III clinical trial for the treatment of patients with acute myeloid leukemia and myelodysplastic syndrome; in Phase I/II trial of paclitaxel in combination with ganetespib in patients with platinum-resistant ovarian cancer; and in Phase I/II trial in combination with the mTOR inhibitor sirolimus in patients with refractory sarcoma.
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