On Wednesday, U.S. stocks drooped.
The S&P 500 SPX, -0.81% saw broad-based declines across all 10 main sectors, which traded deep in the red. Out of 500 stocks in the index, less than 30 traded in the green. Alcoa led the declines, after being downgraded by Bank of America Merrill Lynch.
The Dow Jones Industrial Average DJIA, -0.82% declined by triple digits, with every single blue chip stock trading in negative territory.
The NASDAQ COMP, -0.64% retreated further below the psychologically important 5,000 level reached on Monday.
Insights about U.S. Stocks that landed in the Red-Zone during the current trade, are depicted underneath:
InspireMD Inc (NYSEMKT:NSPR)’s shares dropped -41.84%, and is now trading at $0.320, hitting new 52-week low of $0.30.
InspireMD Inc., a leader in embolic protection systems, declared that it has reached a definitive contract to sell up to about 34 million shares of ordinary stock and warrants to purchase up to about 34 million shares of ordinary stock in a public offering. The ordinary stock will be sold at a negotiated purchase price of $0.40 per share, and each purchaser will receive a warrant to purchase one share of ordinary stock for each share of ordinary stock that it purchases in the offering. The warrants shall be exercisable right away and have a term of exercise of five years from the date of issuance and an exercise price of $0.55. The Corporation anticipates to receive gross proceeds from the offering of about $13.5 million, before deducting placement agents’ fees and estimated offering expenses.
The offering is predictable to close on or about March 9, 2015, subject to customary closing conditions.
H.C. Wainwright & Co., LLC, is serving as the sole bookrunner for this offering. Dawson James Securities, Inc. is serving as co-manager.
The Corporation intends to use the net proceeds from this offering to commercially launch CGuard™ EPS, conduct sales activities related to MGuard Prime™ EPS, advance the development of its pipeline, and for general corporate purposes.
The securities described above are being offered following a shelf registration statement on Form S-3 which was filed with the Securities and Exchange Commission (“SEC”) and was declared effective on November 27, 2013. A preliminary prospectus supplement regarding the offering was filed with the SEC on March 3, 2015 and a final prospectus supplement regarding the offering will be filed with the SEC by March 5, 2015.
InspireMD seeks to utilize its proprietary MGuard® with MicroNet™ technology to make its products the industry standard for embolic protection and to provide a superior solution to the key clinical issues of current stenting in patients with a high risk of distal embolization, no reflow and major adverse cardiac events.
Corporate Resource Services Inc (NASDAQ:CRRS), declined -25.93%, and is now trading at $0.07, hitting new 52-week low of $0.05.The stock has the beta value of 1.19, and its volatility for the week is 59.37%, while for the month it is 65.31%. The company has the market capitalization of $11.69M. The mean recommendation of analysts for this stock is 3.00.(where 1=Buy, 5=Sale).
Corporate Resource Services, Inc. provides diversified technology, staffing, recruiting, and consulting services in the United States. It offers trained employees in the areas of insurance, information technology, accounting, legal, engineering, science, healthcare, life sciences, creative services, hospitality, retail, general business, and light industrial work.
Bazaarvoice Inc (NASDAQ:BV), dipped -24.12%, and is now trading at $6.89.
Bazaarvoice Inc., declared its results for the fiscal quarter of 2015, ended January 31, 2015.
Third Fiscal Quarter of 2015 Financial Details:
The divestiture of PowerReviews was accomplished on July 2, 2014. The terms of the transaction were approved by the Department of Justice on June 26, 2014. As a result, PowerReviews proceeds, related expenses and loss on disposal, net of tax, are components of “revenue (loss) from suspended operations, net of tax” in the Condensed Merged Statements of Operations as of our fourth fiscal quarter of 2014 and all comparative fiscal quarters presented. The Statement of Cash Flows is stated on a combined basis without separately presenting cash flows from suspended operations for all periods presented.
Proceed from ongoing operations: Bazaarvoice stated proceed of $49.6 million for the third fiscal quarter of 2015, up 14% from the third fiscal quarter of 2014, and comprised of SaaS proceed of $46.4 million and net media proceed of $3.1 million.
Adjusted EBITDA from ongoing operations: Adjusted EBITDA for the third fiscal quarter of 2015 was $2.0 million, a noteworthy improvement contrast to a loss of $3.5 million for the third fiscal quarter of 2014.
GAAP net loss and net loss per share from ongoing operations: GAAP net loss was $4.1 million, contrast to a GAAP net loss of $8.4 million for the third fiscal quarter of 2014. GAAP net loss per share was $0.05 based upon weighted average shares outstanding of 78.9 million, contrast to $0.11 for the third fiscal quarter of 2014 based upon weighted average shares outstanding of 76.1 million.
Bazaarvoice is a network that connects brands and retailers to the authentic voices of people where they shop. Each month, more than 700 million people view and share authentic opinions, questions, and experiences about tens of millions of products in the Bazaarvoice network.
Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC), dwindled -24.30%, and is now trading at $1.08.
Today, Cyclacel Pharmaceuticals Inc., declared that it has priced its formerly declared public offering of 10,000,000 shares of its ordinary stock, at a price to the public of $1.00 per share, for gross proceeds of $10.0 million. The offering is predictable to close on March 9, 2015, subject to customary closing conditions.
The net proceeds, after deducting placement agent fees and expenses and other estimated fees and expenses payable by the Corporation, are about $9.2 million. The Corporation intends to use the proceeds from this offering for the continued clinical development of its most advanced product candidate, sapacitabine, in myelodysplastic syndromes (MDS) and other indications, Phase 1 clinical trials of its cyclin dependent kinase (CDK) inhibitor, CYC065, and general corporate purposes.
H.C. Wainwright & Co., LLC is acting as the sole book runner for the offering.
The securities described above are being offered by Cyclacel following a “shelf” registration statement on Form S-3 (File No. 333-187801) filed with the Securities and Exchange Commission, or the SEC, which was declared effective by the SEC on April 22, 2013.
Cyclacel is a biopharmaceutical corporation developing oral therapies that target the various phases of cell cycle control for the treatment of cancer and other serious diseases. Sapacitabine, Cyclacel’s most advanced product candidate, is the subject of SEAMLESS, a Phase 3 trial, which has accomplished enrollment and is being conducted under an SPA with the FDA as front-line treatment for acute myeloid leukemia (AML) in the elderly, and other studies for myelodysplastic syndromes (MDS) and chronic lymphocytic leukemia (CLL).
