On Thursday, Zogenix, Inc. (NASDAQ:ZGNX)’s shares inclined 0.95% to $1.60.
Zogenix, Inc. (ZGNX) declared that at the annual general meeting of shareholders held earlier recently, shareholders voted to approve a proposal authorizing the board of directors of the Company to amend the Company’s certificate of incorporation to effect a reverse stock split of Zogenix’s outstanding common shares at an exchange ratio of 1-for-8, and a change in the number of authorized shares of common stock to 50,000,000 shares. Zogenix’s board of directors had formerly directed that the proposal be presented to the shareholders for approval and has subsequently determined that the reverse stock split will take effect on July 1, 2015. Starting with the opening of trading on July 1, 2015, the Company’s common stock will trade on a split-adjusted basis.
Zogenix, Inc., a pharmaceutical company, develops and commercializes therapies for the treatment of central nervous system disorders in the United States. Its marketed product comprises Zohydro ER, an extended-release formulation of hydrocodone for the treatment of severe chronic pain. The company also develops ZX008, a low-dose fenfluramine for the treatment of Dravet syndrome; and Relday, an injectable formulation of risperidone that is in Phase Ib clinical trial to treat the symptoms of schizophrenia and bipolar disorder in adults and teenagers with 13 years of age and older.
Kimco Realty Corp (NYSE:KIM)’s shares gained 1.69% to $24.02.
Kimco Realty Corp. (KIM) declared that its administration will take part in the Jefferies Global Consumer Conference on Tuesday, June 23, 2015 in Nantucket, MA. Kimco administration will provide a general overview of the company followed by a question and answer session.
Kimco Realty Corporation is an independent real estate investment trust. The firm invests in the real estate markets across North America. It is primarily engaged in acquisitions, development, and administration of neighborhood and community shopping centers.
At the end of Thursday’s trade, United Parcel Service, Inc. (NYSE:UPS)‘s shares surged 0.98% to $101.40.
UPS(R) (UPS) declared that it is building a new healthcare distribution center in Roermond, the Netherlands, to accommodate growing demand. The new facility will measure close to 28,000 square meters and provide 41,000 pallet places. The declarement comes a month after UPS opened a healthcare-dedicated air freight forwarding facility at Amsterdam Airport Schiphol.
The Roermond facility, which is planned to be accomplished in January 2016, is part of UPS’s ongoing growth plan in Europe. With its close proximity to UPS’s European air hub at Cologne/Bonn airport in Germany, it allows for short transit times, counting next-day and two-day service, to global destinations. Up to 200 jobs will be created once the facility is fully operational.
United Parcel Service, Inc., a package delivery company, provides transportation, logistics, and financial services in the United States and internationally. It operates in three segments: U.S. Domestic Package, International Package, and Supply Chain & Freight. The U.S. Domestic Package segment offers time-definite delivery of letters, documents, small packages, and palletized freight through air and ground services in the United States.
Michael Kors Holdings Ltd (NYSE:KORS), ended its Thursday’s trading session with -0.58% loss, and closed at $46.16.
Michael Kors Holdings Ltd (KORS) agreed to pay $4.88 million and change its sales practices to settle a class action lawsuit claiming it used deceptive price tags at its outlet stores to fool shoppers into believing they were getting big bargains.
The preliminary settlement was filed on Friday in Manhattan federal court, and requires court approval.
Shoppers said the suggested retail prices were artificial because the tagged products had been made exclusively for Michael Kors outlets, and the London-based fashion house never intended to sell them at those prices.
As part of the settlement, Michael Kors will replace “MSRP” with “Value” on its price tags and display signage explaining that term, or stop using reference prices for products made exclusively for its outlets.
Michael Kors Holdings Limited engages in the design, marketing, distribution, and retailing of branded women’s apparel and accessories, and men’s apparel. The company operates in three segments: Retail, Wholesale, and Licensing. The Retail segment is involved in the sale of women’s apparel; accessories, which comprise handbags and small leather goods, such as wallets; footwear; and licensed products comprising watches, jewelry, fragrances and beauty, and eyewear.
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