Following U.S. Stocks were among the “Top Losers” during Monday’s trade: BioScrip Inc (NASDAQ:BIOS), Lumber Liquidators Holdings Inc (NYSE:LL), Direxion Shares Exchange Traded Fund Trust (NYSEARCA:JNUG), Anthera Pharmaceuticals Inc (NASDAQ:ANTH)
Their insights are depicted underneath:
BioScrip Inc (NASDAQ:BIOS)’s shares dwindled -16.83%, and closed at $4.30, hitting new 52-week low of $4.28.
According to PRNewswire, BioScrip Inc. (BIOS), declared the sale of $62.5 million in Series A Convertible Preferred Stock (“Preferred Stock”) to Coliseum Capital Administration, LLC (“Coliseum Capital”) and associated funds. The Preferred Stock is convertible into 12,088,975 shares of BioScrip’s ordinary stock at a conversion price of $5.17 per share, which was the closing price of BioScrip’s ordinary stock on the NASDAQ Global Market on March 6, 2015. Dividends on the Preferred Stock will be payable quarterly at an annual rate of 8.5% if paid in cash or 11.5% if accrued. As part of the transaction, BioScrip issued to Coliseum Capital warrants for an aggregate of 3.6 million shares of BioScrip stock. Warrants for 1.8 million shares are exercisable at $5.295 per share and warrants for 1.8 million shares are exercisable at $6.596 per share.
In addition, BioScrip intends to conduct a registered rights offering to allow all of BioScrip’s existing stockholders of record, on a date to be determined by the Board, the non-transferable right to purchase their pro rata share of $20.0 million of Preferred Stock and warrants on the same terms as the accomplished private placement to Coliseum Capital. Coliseum Capital and its associates will not take part in the rights offering. Additional details regarding the anticipated rights offering will be comprised of in the Corporation’s Form S-3, which it intends to file with the Securities and Exchange Commission.
The proceeds from the private placement will be used primarily to reduce BioScrip’s outstanding indebtedness.
Christopher Shackelton, a Co-Founder and Managing Partner of Coliseum Capital, will join the BioScrip Board of Directors effective right away.
Richard M. Smith, President and Chief Executive Officer of BioScrip, said, “We are happy to declare this planned investment by Coliseum Capital which we expect will enhance BioScrip’s financial flexibility. We are excited to welcome Chris to our Board and believe his extensive experience in the healthcare services industry will bring added value to our Corporation.”
BioScrip, Inc. is a leading national provider of infusion and home care administration solutions. BioScrip partners with physicians, hospital systems, skilled nursing facilities, healthcare payors, and pharmaceutical manufacturers to provide patients access to post-acute care services.
Lumber Liquidators Holdings Inc (NYSE:LL), declined -16.12%, and closed at $27.95, hitting new 52-week low of $27.79.
According to PRNewswire, Lumber Liquidators Holdings, Inc. (LL) the largest specialty retailer of hardwood flooring in North America, has successfully implemented its expanded showroom concept as the Corporation continues growing its nationwide footprint.
The Corporation presently has more than 350 stores within 46 states and Canada after opening 34 new stores and remodeling 17 existing stores in 2014. Presently, nearly a third of the store locations have implemented the expanded showroom and that number will continue to rise throughout the next several years.
All new and remodeled Lumber Liquidators stores are now designed around an improved customer shopping experience. Expanded showrooms and improved warehouse design allow stores to offer a larger assortment of flooring options, moldings, accessories and tools. A variety of floors are also installed so customers can walk on different styles and species of wood.
For ease of flooring comparison and selection, products are grouped by category and displayed within color palettes and cost. Shoppers can also take home free flooring samples and consult with Lumber Liquidators flooring experts at every turn.
Robert M. Lynch, President and Chief Executive Officer, commented, “Customers are telling us that the new store concept is making floor shopping easier. Combining this with our high-quality flooring and legendary low prices creates consumer demand that continues fueling our expansion plans.”
With more than 350 locations, Lumber Liquidators is North America’s largest specialty retailer of hardwood flooring. The Corporation features more than 400 top quality flooring varieties, counting solid and engineered hardwood, bamboo, cork, laminate and resilient vinyl. Additionally, Lumber Liquidators provides a wide selection of flooring enhancements and accessories to complement, install and maintain your new floor.
Direxion Shares Exchange Traded Fund Trust (NYSEARCA:JNUG), dipped -15.81%, and closed at $16.51, hitting new 52-week low of $16.46.
Over the past 30 days, the Direxion Shares Exchange Traded Fund Trust (NYSEARCA:JNUG), has seen creation activity while traders have redeemed shares of the Direxion Daily Junior Gold Miners Index Bear 3X Shares (JDST) , according to Direxion data.
The investment seeks daily investment results, before fees and expenses, of 300% of the performance of the Market VectorsTM Junior Gold Miners Index. The fund creates long positions by investing at least 80% of its assets in the securities that comprise the Market VectorsTM Global Junior Gold Miners Index and/or financial instruments that provide leveraged and unleveraged exposure to the index.
Anthera Pharmaceuticals Inc (NASDAQ:ANTH), dropped -14.87%, and closed at $5.21.The company has the market capitalization of $159.52M. The beta value of the stock is 1.77. On the other hand the stock’s volatility for the week is 13.25%, and for the month is 12.81%. The stock price to book value is $27.42. Analyst’s mean recommendation regarding this stock is 2.70. (where 1=Buy, 5=Sale).
Anthera Pharmaceuticals, Inc., a biopharmaceutical corporation, focuses on developing and commercializing products to treat diseases associated with inflammation and autoimmune diseases.
