On Friday, Capnia Inc (NASDAQ:CAPN)’s shares declined -18.53% to $2.55.
Capnia, Inc. (CAPN), focused on the development and commercialization of novel products based on its proprietary technologies for precision metering of gas flow, declared financial results for the second quarter ended June 30, 2015.
Recent Developments and Forthcoming Milestones
CoSense
Executing CoSense Commercial Rollout — During the second quarter, Capnia strengthened its commercial sales team with the appointment of Chief Commercial Officer, Edward Ebbers. This neonatology-focused team is targeting 400 of the top U.S. hospitals based on number of newborn births each year, with the aim of maximizing initial sales of the CoSense device and rapidly growing recurring revenues from sales of per-test consumables. The commercial sales team has profiled and identified key accounts nationwide and the Company is in talk aboutions with several healthcare institutions.
Developing Sickle Cell Disease (SCD) Screening in Developing Countries — In April, Capnia declared it was awarded a Small Business Innovation Research (SBIR) Phase I grant for $220,000 by the National Heart, Lung, and Blood Institute (NHLBI), a division of the National Institutes of Health (NIH). This grant will be used to assist fund the development of a modified CoSense device that is suitable for field use in developing countries with high prevalence of SCD.
Capnia, Inc. develops diagnostics and therapeutics based on its proprietary technology for precision metering of gas flow primarily in the United States. The company offers CoSense for the diagnosis of excessive hemolysis in neonates, a condition that causes long-term developmental disability due to the degradation of red blood cells. It also develops Serenz, a therapeutic product candidate that has accomplished phase II clinical trials for the treatment of symptoms related to allergic rhinitis. T
Markit Ltd (NASDAQ:MRKT)’s shares gained 0.34% to $29.53.
Markit Ltd (MRKT) declared the launch of a secondary public offering of its common shares. In the offering, which is subject to market and other conditions, certain of Markit’s shareholders intend to offer 24,586,022 common shares for sale and to grant the underwriters the right to purchase up to about 1,700,000 additional common shares from the selling shareholders. The company itself is not selling any shares and will not receive any proceeds from the projected offering.
BofA Merrill Lynch, Barclays, Citigroup, Credit Suisse, Deutsche Bank Securities, Goldman, Sachs & Co., HSBC, J.P. Morgan, Morgan Stanley, RBC Capital Markets, UBS Investment Bank, BNP PARIBAS, Jefferies, RBS and TD Securities are acting as joint book-running managers for the offering.
As part of the offering, Markit intends to purchase from the underwriters a number of common shares with an aggregate value of about $350 million at a price per common share equal to the price to be paid to the selling shareholders by the underwriters. Markit intends to fund the repurchase through a combination of cash and a drawdown of its revolving credit facility.
Markit Ltd. provides financial information services worldwide. It operates through three divisions: Information, Processing, and Solutions. The Information division provides pricing and reference data, indices, and valuation and trading services across multiple asset classes and geographies through direct and third-party distribution channels. Its products and services are used for independent valuations, research, trading, and liquidity and risk assessments.
At the end of Friday’s trade, MasTec, Inc. (NYSE:MTZ)‘s shares dipped -2.90% to $17.41.
MasTec, Inc. (MTZ) recently declared it will be filing its 2014 Annual Report on Form 10-K on July 31, 2015. The Audit Committee established and observed a process that the Company followed in the preparation of its 2014 Form 10-K, counting a detailed review of percentage-of-completion accounting at the Company’s Electrical Transmission segment and a detailed review of accounting judgments, estimates and entries over a multi-year period across the balance of the Company’s segments selected to further test the reliability of the formerly issued financial statements.
The Company has concluded that certain accounting adjustments are appropriate with respect to interim periods during the Company’s fiscal year ended December 31, 2014. In the aggregate, these interim period adjustments enhance the Company’s formerly revealed unaudited, preliminary net income attributable to MasTec, Inc. (“Net Income”) for the year ended December 31, 2014 by $0.3 million to an aggregate of $115.9 million.
MasTec, Inc., an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for energy, utility, and communications infrastructure primarily in the United States. It operates in five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.
Microchip Technology Inc. (NASDAQ:MCHP), ended its Friday’s trading session with -0.23% loss, and closed at $43.29.
Microchip Technology Inc. (MCHP), a leading provider of microcontroller, mixed-signal, analog and Flash-IP solutions, declared that designers using the Automotive Open System Architecture (AUTOSAR) to develop and reuse their in-vehicle software can now connect their systems to not only networking technologies such as CAN and LIN, but also to the MOST® Cooperation’s automotive-proven MOST networking technology. This means that Microchip’s MOST Intelligent Network Interface Controllers (INICs) can be used for cross-domain communication in an AUTOSAR system, such as Advanced Driver Assistance Systems (ADAS), which simplifies automotive networking and diagnostics.
AUTOSAR has developed standardized, open software architecture for automotive electronic control units, which is increasingly being applied in traditional vehicle electronic domains. For example, after the major German vehicle OEMs successfully utilized AUTOSAR in the central areas of their electrical/electronics architectures, they are now extending its use into additional domains. With the introduction of the AUTOSAR 4.x standard, most other OEMs are now also investigating or actively migrating to AUTOSAR. Therefore, it is increasingly important that the infotainment domain of a vehicle is able to support AUTOSAR, at least where an interaction with other domains is necessary.
Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers microcontrollers, such as 8-bit, 16-bit, and 32-bit microcontrollers under the PIC brand name; and 16-bit dsPIC digital signal controllers, in addition to provides microcontrollers for automotive networking, computing, lighting, power supplies, wireless communication, and wireless audio applications.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.
