On Thursday, Intrexon Corp (NYSE:XON)’s shares declined -0.60% to $43.29.
Intrexon Corp (XON) declared that it has determined the final distribution ratio regarding its formerly declared distribution of all of its 17,830,305 shares of ZIOPHARM Oncology, Inc. (ZIOP) common stock on or about June 12, 2015, the distribution date, as a pro rata dividend on shares of Intrexon common stock, and on warrants to purchase shares of Intrexon common stock (“Warrants”), outstanding on June 4, 2015, the record date.
Based on the number of Intrexon shares outstanding and shares deliverable under Warrants as of the record date, holders of Intrexon common stock will receive 0.162203 shares of ZIOPHARM common stock in the distribution with respect to each outstanding share of Intrexon common stock they own at the close of business on the record date, and holders of Warrants will receive 0.162203 shares of ZIOPHARM common stock in the distribution with respect to each share of Intrexon common stock deliverable under the Warrants they hold at the close of business on the record date.
Fractional shares of ZIOPHARM common stock will not be distributed to Intrexon shareholders or Warrant holders. Instead, the fractional shares of ZIOPHARM common stock will be aggregated and sold back to ZIOPHARM, with the net proceeds distributed pro rata in the form of cash payments to Intrexon shareholders and Warrant holders who would otherwise receive ZIOPHARM fractional shares.
The distribution of the shares of ZIOPHARM common stock is predictable to be partially taxable for U.S. federal income tax purposes. Intrexon shareholders and Warrant holders should consult their tax advisors with respect to U.S. federal, state, local and foreign tax consequences of the distribution, counting, without limitation, the potential imposition of withholding taxes on the distribution of ZIOPHARM common stock.
Intrexon Corporation, a biotechnology company, operates in the synthetic biology field in the United States. The company, through a suite of proprietary and complementary technologies, designs, builds, and regulates gene programs, which are DNA sequences that comprise of key genetic components.
TTM Technologies, Inc. (NASDAQ:TTMI)’s shares gained 0.10% to $10.51.
Stifel analyst Matthew Sheerin downgraded the rating on TTM Technologies, Inc. (NASDAQ: TTMI) from Buy to Hold. The analyst believes that the successful integration of Viasystems Group, Inc. (NASDAQ: VIAS) is already priced into the stock.
The rating on the company had been upgraded in April 2014 after TTM Technologies successfully ramped new product lines for Apple Inc. (NASDAQ: AAPL) in 2H14, which led to margin expansion and revenue growth for the former company. TTM Technologies also successfully trimmed its portfolio and implemented cost cutting initiatives, while also concluding the Viasystems acquisition.
The company has been able to achieve cost savings worth about $55 million, most of which was driven by overhead reduction, while the rest was contributed by operating plant efficiencies. The analyst anticipates further cost saving to be gradual, with most of the benefits coming in during 1HF16. However, the analyst also anticipates incremental expenses due to the recent loan.
TTM Technologies, Inc., together with its auxiliaries, provides various printed circuit board (PCB) products and backplane assemblies worldwide. The company offers high density interconnect, conventional, flexible, and rigid-flex PCBs, in addition to backplane assemblies and IC substrates. It also offers various services, such as design for manufacturability support during new product introduction stages; PCB layout design; simulation and testing services; quick turnaround production; and drilling and routing services.
At the end of Thursday’s trade, LinnCo LLC (NASDAQ:LNCO)‘s shares dipped -1.05% to $10.40.
LinnCo LLC (LNCO) and LINN Energy, LLC (LINE) declared monthly distributions and dividends, respectively.
LINN Energy, LLC declared a monthly cash distribution of $0.1042 per unit, or $1.25 per unit on an annualized basis, for all of its outstanding units. The distribution will be payable June 17, 2015, to unitholders of record as of the close of business on June 11, 2015.
LinnCo, LLC declared a monthly cash dividend of $0.1042 per common share, or $1.25 per share on an annualized basis, for all of its outstanding common shares. The dividend will be payable June 18, 2015, to shareholders of record as of the close of business on June 11, 2015.
LinnCo, LLC, through its limited liability company interests in Linn Energy, LLC, focuses on the acquisition and development of oil and natural gas properties in the United States. The company was founded in 2012 and is headquartered in Houston, Texas.
Kindred Healthcare, Inc. (NYSE:KND), ended its Thursday’s trading session with -3.24% loss, and closed at $21.53.
Kindred Healthcare, Inc. (KND) declared that Stephen D. Farber, Executive Vice President and Chief Financial Officer, will take part in the Barclays High Yield Bond and Syndicated Loan Conference in Colorado Springs, Colorado, on Thursday, June 11, 2015.
Kindred Healthcare, Inc. provides healthcare services in the United States. It operates in four divisions: Hospital, Nursing Center, Rehabilitation, and Care Administration. The Hospital division operates transitional care hospitals that provide services for medically complex patients, counting the critically ill, suffering from multiple organ system failures, primarily the cardiovascular, pulmonary, kidney, gastro-intestinal, and cutaneous systems. This division also operates inpatient rehabilitation hospitals, which offer services to patients who require intensive inpatient rehabilitative care.
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