On Wednesday, EXACT Sciences Corporation (NASDAQ:EXAS)’s shares declined -1.57% to $24.51.
Exact Sciences Corporation (EXAS) declared a contract to sell 7,000,000 shares of its common stock to Jefferies LLC and Robert W. Baird & Co. Incorporated as underwriters in an underwritten public offering following an effective shelf registration statement filed with the Securities and Exchange Commission (the “SEC”) on Form S-3. The Company has also granted the underwriters an option to purchase up to 1,050,000 additional shares.
The Company intends to use the net proceeds of this offering to fund expansion of Cologuard® commercialization activities, to fund product development efforts, and for general corporate and working capital purposes.
Exact Sciences Corporation, a molecular diagnostics company, focuses on developing non-invasive colorectal cancer screening products. The company develops the Cologuard, a non-invasive stool-based DNA colorectal cancer screening test that is designed to detect pre-cancerous lesions or polyps, and each of the four stages of colorectal cancer. Its Cologuard test comprises proprietary and patented methods that isolate and analyze the human DNA that are shed into stool every day from the exfoliation of cells that line the colon; and also protein marker to detect blood in the stool, utilizing an antibody-based fecal immunochemical test.
Synchronoss Technologies, Inc. (NASDAQ:SNCR)’s shares gained 6.39% to $47.10.
Synchronoss Technologies, Inc. (SNCR), the mobile innovation leader that provides cloud solutions and software-based activation for mobile carriers, retailers and OEMs around the world, recently declared financial results for the second quarter 2015.
On a GAAP basis, Synchronoss stated net revenues of $137.8 million, representing an enhance of 33% contrast to the second quarter of 2014. Gross profit was $82.9 million and income from operations was $23.6 million in the second quarter of 2015. Net income was $15.2 million, leading to diluted earnings per share of $0.33, contrast to $0.20 for the second quarter of 2014.
Synchronoss Technologies, Inc. provides cloud solutions and software-based activation for connected devices worldwide. The company’s services comprise intelligent connectivity administration and content synchronization, backup, and sharing service procurement, in addition to provisioning, activation, and support services that enable communications service providers, cable operators/multi-services operators, original equipment manufacturers with embedded connectivity, multi-channel retailers, and other customers to accelerate and monetize value-add services for connected devices.
At the end of Wednesday’s trade, Popular Inc (NASDAQ:BPOP)‘s shares surged 0.19% to $31.19.
Popular, Inc. (BPOP) stated net income of $597.5 million and adjusted net income of $90.1 million for the quarter ended June 30, 2015, contrast to net income of $74.8 million and an adjusted net income of $90.3 million for the quarter ended March 31, 2015.
NoteworthyEvents
- During the quarter ended June 30, 2015, the Corporation recorded a partial reversal of the valuation allowance on its deferred tax assets from its U.S. operations for about $544.9 million. The Corporation has concluded that it is more likely than not that a portion of the total of $1.2 billion on deferred tax assets at the U.S. operations, comprised mainly of net operating losses (“NOLs”) will be realized. The Corporation based its determination on its estimated earnings for the remaining carryforward period – eighteen years startning with the 2016 fiscal year – accessible to utilize the deferred tax asset to reduce its income tax obligations.
The enhance in the net deferred tax asset did not have a material impact on regulatory capital. However, it raised the tangible book value per common share by $5.27.
Popular, Inc., through its auxiliaries, provides various retail and commercial banking products and services primarily to institutional and retail customers. The company accepts various deposit products. It also offers commercial and industrial loans; commercial real estate loans; construction loans; lease financing comprising automobile loans/leases; residential mortgage and construction loans; and consumer loans, counting personal loans, credit cards, home equity lines of credit, and other loans to individual borrowers.
Gevo, Inc. (NASDAQ:GEVO), ended its Wednesday’s trading session with 6.31% gain, and closed at $2.19.
Gevo, Inc. (GEVO), received a key endorsement for the use of its renewable isobutanol by the marine industry, following support and recommendation for the use of isobutanol by the National Marine Manufacturers Association (NMMA) as an effective, less damaging, more suitable biofuel alternative than ethanol for powering various types of marine and recreational boat engines.
The NMMA is the leading association representing the recreational boating industry in North America. Its member companies produce more than 80 percent of the boats, engines, trailers, accessories and gear used by boaters and anglers throughout the U.S. and Canada. Over the last five years, the NMMA has worked together with Gevo, the US Department of Energy (DOE), Argonne National Laboratory, the US Coast Guard and others on the testing of isobutanol in a variety of marine engines. During this time, the NMMA has gathered a great amount of data supporting the viability of isobutanol as the preferred renewable fuel blendstock for gasoline-powered marine engines.
Gevo, Inc., a renewable chemicals and biofuels company, focuses on the development and commercialization of alternatives to petroleum-based products based on isobutanol produced from renewable feedstocks. The company operates in two segments, Gevo, Inc.; and Gevo Development/Agri-Energy.
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