On Wednesday, Following Stocks were among the “Top 100 Losers” of U.S. Stock Market: SunCoke Energy Partners, L.P. (NYSE:SXCP), Worthington Industries, Inc. (NYSE:WOR), TG Therapeutics, Inc. (NASDAQ:TGTX), RADA Electronic Industries Ltd. (NASDAQ:RADA)
SunCoke Energy Partners, L.P. (NYSE:SXCP), with shares declined -10.89%, closed at $19.73, hitting new 52-week low of $19.20.
Worthington Industries, Inc. (NYSE:WOR), with shares dropped -9.98%, settled at $25.90.
TG Therapeutics, Inc. (NASDAQ:TGTX), with shares dipped -9.49%, and closed at $15.84.
RADA Electronic Industries Ltd. (NASDAQ:RADA), plummeted -8.90%, and closed at $2.56.
Latest NEWS regarding these Stocks are depicted underneath:
SunCoke Energy Partners, L.P. (NYSE:SXCP)
SunCoke Energy Partners, L.P. (SXCP), issued the following statement regarding U.S. Steel’s declaration that it is temporarily idling its Granite City Works flat-rolled operations subject to customer demand.
“SunCoke Energy supplies coke to U.S. Steel’s Granite City Works under a long-term, take-or-pay contract until 2025 and the temporary idling doesn’t change any obligations for U.S. Steel under this contract. We value our long-standing relationship with U.S. Steel and will assist them in managing through the situation, which may comprise shipping coke to other U.S. Steel facilities.”
SunCoke Energy Partners, L.P., a master limited partnership, manufactures and sells coke used in the blast furnace production of steel in the United States. The corporation operates through Domestic Coke and Coke Logistics segments. It also provides metallurgical and thermal coal blending and handling terminal services. SunCoke Energy Partners GP LLC operates as the general partner of the corporation. SunCoke Energy Partners, L.P. is headquartered in Lisle, Illinois.
Worthington Industries, Inc. (NYSE:WOR)
Worthington Industries, Inc. (WOR), stated net sales of $804.8 million and a net loss of $25.7 million, or a loss of $0.39 per diluted share, for its fiscal 2015 third quarter ended February 28, 2015. These results comprised of a non-cash impairment charge of $81.6 million for the Corporation’s Engineered Cabs business, related to goodwill and long-lived assets and $2.3 million of severance expense related to the recently declared workforce reductions in Oil & Gas Equipment. The after-tax influence of these charges reduced earnings by $52.9 million, or $0.78 per diluted share. In last year’s third quarter, the Corporation stated net sales of $773.2 million and net earnings of $40.6 million, or $0.57 per diluted share.
Merged Quarterly Results:
Net sales for the third quarter ended February 28, 2015, were $804.8 million, a 4% raise over the comparable quarter in the preceding year, when net sales were $773.2 million. The $31.6 million raise was primarily driven by attainments in the Steel Processing and Pressure Cylinders segments.
Gross margin declined $24.0 million from the preceding year quarter to $98.5 million. The positive influence from the recent attainments was more than offset by higher inventory holding losses fueled by rapidly falling steel prices in Steel Processing and lower volumes in Consumer and Industrial Products in Pressure Cylinders.
On Tuesday, the Corporation declared its decision to close its Engineered Cabs facility in Florence, S.C., which resulted in the $81.6 million impairment of goodwill and long-lived assets in the current quarter. As a result, operating revenue reduced $97.3 million from the preceding year.
Without taking into account the impairment charge, operating revenue was down $15.7 million, driven largely by inventory holding losses, lower Pressure Cylinders volumes and raised manufacturing expenses. SG&A expenses were down $8.9 million from the preceding year quarter as lower earnings resulted in lower profit sharing and bonus expenses.
Revenue tax showed a benefit of $18.2 million as a result of the impairment charge. Not including the charge, revenue tax expense would have been $10.9 million in the current quarter contrast to $16.6 million in the comparable quarter of the preceding year. The lower earnings in the current quarter more than offset the influence of a higher effective tax rate. Tax expense in the current quarter reflects an estimated annual effective rate of 30.9% contrast to 27.3% for the preceding year quarter.
Worthington Industries, Inc., a metals manufacturing corporation, focuses on value-added steel processing and manufactured metal products in the United States, Europe, Mexico, Canada, and internationally. It operates through three segments: Steel Processing, Pressure Cylinders, and Engineered Cabs.
TG Therapeutics, Inc. (NASDAQ:TGTX)
Michael S. Weiss, Executive Chairman of TG Therapeutics, Inc. (TGTX), and Interim Chief Executive Officer, presented at the 27th Annual ROTH Conference, held at the Ritz Carlton in Laguna Niguel, CA. The presentation took place on Monday March 9, 2015.
TG Therapeutics, Inc., a biopharmaceutical corporation, focuses on the attainment, development, and commercialization of novel treatments for b-cell malignancies and autoimmune diseases. The corporation develops TG-1101 (ublituximab), a novel glycoengineered monoclonal antibody, which is in Phase III clinical trials and targets a epitope on the CD20 antigen found on the surface of B-lymphocytes developed to aid in the depletion of circulating B-cells; and TG-1101 in combination with TGR-1202 that is in Phase Ib/II clinical trials for relapsed/refractory non-Hodgkin’s lymphoma and chronic lymphocytic leukemia.
RADA Electronic Industries Ltd. (NASDAQ:RADA)
RADA Electronic Industries Ltd. (RADA), declared the selection by Lockheed Martin Space Systems Corporation of its Multi-Mission Hemispheric Radar (MHR) to support internally funded high energy laser weapon system prototype testing. The radar will be used by Lockheed Martin in combination with other sensors.
The MHR — an S-Band, Software-Defined, Pulse-Doppler, Active Electronically Scanned Array radar — has sophisticated beam forming capabilities and advanced signal processing, provides multiple missions on each radar platform, and offers unprecedented performance-to-price ratio. It is compact and mobile, delivering ideal organic, tactical surveillance solutions for force and border protection applications such as counter rockets and mortars, counter unmanned aerial systems, ground moving target indicator, air surveillance, and more.
RADA Electronic Industries Ltd., a defense electronics contractor, is engaged in the development, manufacture, and sale of defense electronics to various air forces and companies worldwide. The corporation offers data/video recording and administration systems, counting flight data recorders for fighter aircraft; digital video/audio/data recorders with data transfer functions; high-rate data recorders for aircraft and airborne pods; video recorders and airborne data servers; a range of head-up-displays color video cameras for fighter aircraft; and various ground debriefing solutions.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.
