On Monday, U.S. stocks hit an encouraging note for the start of March, with a rally stimulating the Nasdaq Composite on top of 5,000 — a level not attained since 2000 for the tech-heavy index — while the S&P 500 and the Dow Jones Industrial Average gained records of their own.
The record-setting day for the key indexes came accompanied by economic reports on Monday that pointed to a delay in manufacturing activity in addition to consumer spending. However, shareholders brushed off somewhat unsatisfactory data, apparently content with the fact the U.S. economy is still growing, albeit, at a more modest clip.
Insights about those Stocks that landed in the Red-Zone during Monday’s trade, are depicted underneath:
Lumber Liquidators Holdings, Inc. (NYSE:LL)’s shares dwindled -25.13%, and closed at $38.83, during the last trading session, hitting new 52-week high of $38.19, soon after the news release that the largest specialty retailer of hardwood flooring in North America, supported several educational organizations across America within the past year through its Lay It Forward philanthropic program. Counting cash and product, the Company donated nearly $100,000 to education related causes.
Benefiting organizations comprise Williamsburg (Va.) Montessori School, Pocono (Pa.) Environmental Education Center, Philadelphia Academies Inc., Thomas Nelson Community College (Va.), National Braille Press (Boston), Warhill (Va.) High School and A Child’s Song (Colo.).
Robert M. Lynch, President and Chief Executive Officer, commented, “Lay It Forward centers on investing in people and organizations that will benefit communities for generations. Education fits this vision well and has become one of the program’s natural focus areas.”
Lumber Liquidators Holdings, Inc. (NYSE:LL), is North America’s largest specialty retailer of hardwood flooring. The Company 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.
Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX), declined -19.58%, and closed at $92.30, soon after the news release that Pacira Pharmaceuticals, Inc. (PCRX) recently declared the receipt of a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) following a review of its supplemental New Drug Application (sNDA) for the use of EXPAREL® (bupivacaine liposome injectable suspension) in nerve block to provide postsurgical analgesia. Pacira will right away plan an End-of-Review meeting with the Division of Anesthesia, Analgesia and Addiction Products of the Center for Drug Evaluation and Research to talk about the contents of the CRL.
“We are reviewing the contents of the CRL and will work actively with the FDA to bring this important new indication to our core and growing business in infiltration,” said Dave Stack, president, chief executive officer and chairman of Pacira. “Prescribed opioids in the acute care, postsurgical setting lead to chronic use and abuse in about one out of every 15 surgery patients in the United States; we remain committed to providing patients with long-acting, non-opioid analgesic options, like EXPAREL, to treat their pain while minimizing the risk of opioid-related adverse events. We look forward to finding solutions to address this public healthcare problem together with the FDA.”
EXPAREL is presently indicated for single-dose infiltration into the surgical site to produce postsurgical analgesia.
Pacira Pharmaceuticals, Inc. (PCRX) is a specialty pharmaceutical company focused on the clinical and commercial development of new products that meet the needs of acute care practitioners and their patients.
BioScrip Inc. (NASDAQ:BIOS), dipped -14.89%, and closed at $5.20,hitting new 52-week low of $5.00, following the news release that BioScrip®, Inc. (BIOS) declared 2014 fourth quarter financial results. Fourth quarter proceed from ongoing operations was $253.7 million and the net loss from ongoing operations was $61.9 million, or $0.90 per basic and diluted share. Non-GAAP adjusted loss from ongoing operations per basic and diluted share was $0.69.
Fourth Quarter Highlights:
- Total proceed raised by $28.2 million, or 12.5%, as contrast to the preceding year period. Proceed from the Infusion Services segment raised to $239.5 million, reflecting 13.0% growth year-over-year, driven by organic proceed growth;
- Gross profit from ongoing operations was $65.6 million, or 25.9% of proceed, as contrast to $68.2 million, or 30.2% of proceed, in the preceding year period;
- Adjusted EBITDA from ongoing operations was a loss of $30.6 million, primarily reflecting incremental allowance for bad debt expense.
- The Company booked an incremental $31.7 million charge to bad debt, an raise of $29.2 million contrast to the preceding year period, bringing the total bad debt expense in 2014 to $79.6 million. The Company believes this charge appropriately reserves older account receivables;
- The Company implemented an annualized $15 million in formerly identified cost savings projects and identified incremental gross savings of $9 million predictable to be realized in 2015, for a total of $24 million of predictable gross cost savings in the year. Net of investments and expenses to support double digit organic growth and continued improvement of cash collections, the Company anticipates realizing a total of $10 million in net cost savings in 2015;
- Cash flow from ongoing operations was positive for the second successive sequential quarter at $2.0 million; and,
- As a result of the continued focus on cash collections, the Company has raised monthly average accounts receivable collections from $70.0 million in the first quarter of 2014 to $83.0 million in the fourth quarter of 2014.
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.
Mitel Networks Corporation (NASDAQ:MITL), dropped -12.30, and closed at $8.91, soon after the news release that a global leader in business communications, and Mavenir Systems (MVNR), a leading provider of software-based networking solutions for mobile carriers, recently declared that that they have reached a definitive merger contract in which Mitel will attain all of the outstanding shares of Mavenir ordinary stock in a cash and stock deal valued at about $560 million. Under the terms of the merger contract, Mitel will commence an exchange offer following which Mavenir stockholders will be entitled to elect to receive either all-cash or all-stock consideration for each share of Mavenir ordinary stock, subject to proration, in either case with a value of $11.08 plus 0.675 of a Mitel ordinary share, or $17.94 based on the closing price of a Mitel ordinary share on February 27, 2015.
Powering more than 2 billion connections every day, Mitel (NASDAQ:MITL) assists businesses connect, collaborate and take care of their customers. That comprises more than 33 million cloud connections daily, making Mitel the world’s fastest growing provider of cloud communications.




