The stock market had a mildly positive day on Friday, and gains of between 0.1% and 0.3% were common for most of the major benchmark indexes. Without any outright hostility among leaders of the G-7 nations in their summit in Canada’s Quebec City, investors seemed content to go into the weekend with confidence in the prospects for the U.S. economy and its biggest businesses. Yet some individual companies had bad news that held their shares back from participating in the rally. Nabors Industries (NYSE:NBR), PolarityTE (NASDAQ:COOL), and Evolus (NASDAQ:EOLS) were among the worst performers on the day. Here’s why they did so poorly.
Nabors sells more stock
Shares of Nabors Industries fell 4.5% as the operator of land-based and offshore rigs in the U.S. and abroad made an announcement about a recent stock offering. Last month, Nabors agreed to sell 35 million shares at $7.75 per share, raising roughly $271 million. At the time, though, the underwriters retained the right to purchase another 5.25 million shares if they so chose. Nabors said that its underwriters had exercised that right in full, paying $39.4 million. Given that shares had started the day below the $7.75 level and ended well under it, it’s likely that underwriters had entered hedging transactions to protect themselves from downward moves shortly after the initial offering. Unwinding those hedges and the prospect of further dilution from additional share issuance likely combined with a drop in oil prices and uncertain future for the company to push Nabors stock lower.
Hot Medical Stocks For 2021: Tidewater Inc.(TDW)
Tidewater Inc., through its subsidiaries, provides offshore service vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels. It provides services in support of offshore exploration, field development, and production, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction and seismic support; and various specialized services, such as pipe and cable laying. The company?s vessels include platform supply vessels, and anchor handling towing supply vessels that are used in transporting supplies and equipment from shore bases to deepwater and intermediate water depth offshore drilling rigs, platforms, and other installations; towing-supply and supply vessels used in intermediate and shallow waters; and crewboats and utility vessels that are chartered for transporti ng personnel and supplies from shore bases to offshore drilling rigs, platforms, and other installations. It also operates offshore tugs used for towing floating drilling rigs; assisting in the docking of tankers; towing barges; assisting in pipe laying, cable laying, and construction barges; and commercial towing operations, including towing barges carrying various bulk cargoes and containerized cargo. In addition, the company operates inshore tugs; production, line-handling, and various other special purpose vessels. Further, it operates two shipyards, which construct, modify, and repair vessels. As of March 31, 2011, the company had 378 vessels serving the global offshore energy industry. The company has operations in the United States, Gulf of Mexico, the Persian/Arabian Gulf, and areas offshore Australia, Brazil, Egypt, India, Indonesia, Malaysia, Mexico, Trinidad, Venezuela, and West Africa. Tidewater Inc. was founded in 1956 and is headquartered in New Orleans, Louisi ana.
- [By Shane Hupp]
Tidewater (NYSE:TDW) and Golar LNG Partners (NASDAQ:GMLP) are both small-cap oils/energy companies, but which is the superior investment? We will contrast the two businesses based on the strength of their earnings, profitability, analyst recommendations, valuation, institutional ownership, dividends and risk.
- [By Logan Wallace]
Tidewater (NYSE:TDW) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
Hot Medical Stocks For 2021: Ethan Allen Interiors Inc.(ETH)
Ethan Allen Interiors Inc. (Ethan Allen), incorporated on May 25, 1989, through its wholly owned subsidiary, Ethan Allen Global, Inc., is an interior design company. The Company is a manufacturer and retailer of home furnishings and accessories. The Company offers interior design service to its clients and sells a range of furniture products and decorative accents through ethanallen.com and a network of approximately 300 design centers in the United States. The Company owns and operates eight manufacturing facilities, including five manufacturing plants and one sawmill in the United States and a manufacturing plant in each of Mexico and Honduras. The Company operates in two segments, including wholesale and retail. The wholesale segment develops, designs, manufactures, sells and distributes home furnishings and accents. The retail segment is engaged in selling of home furnishings and accents to consumers.
The wholesale segment is engaged in the development of the Ethan Allen brand, encompasses all aspects of design, manufacture, sourcing, sale and distribution of home furnishings and accents. Wholesale revenue is generated upon the wholesale sale and shipment of its products to its network of operated design centers and Company operated design centers through its national distribution center. The wholesale segment also develops and implements related marketing and brand awareness programs. The Company operates four case good plants (two in Vermont, including one sawmill, one in North Carolina and one in Honduras), three upholstery plants (two in its North Carolina campus and one in Mexico) and one home accessory plant in New Jersey.
The retail segment sells home furnishings and accents to consumers through a network of Company operated design centers. The Company also offers access to its products to interior designers through its interior design affiliate (IDA) program. Retail revenue is generated upon the retail sale and delivery o! f its products to its retail customers through its network of service centers. As of June 30, 2014, the Company opened nine new design centers, six of which were relocations.
- [By Stephan Byrd]
Victory Capital Management Inc. boosted its position in shares of Ethan Allen Interiors Inc. (NYSE:ETH) by 9.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 59,273 shares of the company’s stock after purchasing an additional 4,949 shares during the quarter. Victory Capital Management Inc. owned 0.22% of Ethan Allen Interiors worth $1,043,000 as of its most recent SEC filing.
- [By Stephan Byrd]
COPYRIGHT VIOLATION WARNING: “LSV Asset Management Raises Stake in Ethan Allen Interiors Inc. (ETH)” was originally reported by Ticker Report and is the sole property of of Ticker Report. If you are viewing this article on another website, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The legal version of this article can be accessed at www.tickerreport.com/banking-finance/4159499/lsv-asset-management-raises-stake-in-ethan-allen-interiors-inc-eth.html.
Hot Medical Stocks For 2021: Jazz Pharmaceuticals Inc.(JAZZ)
Jazz Pharmaceuticals, Inc., a specialty pharmaceutical company, engages in the identification, development, and commercialization of pharmaceutical products to meet unmet medical needs. The company markets Xyrem, a sodium oxybate oral solution for the treatment of both cataplexy and excessive daytime sleepiness in patients with narcolepsy; and Luvox CR extended-release capsules for the treatment of obsessive compulsive disorder. Its product candidates under clinical development include JZP-6, a Phase III pivotal clinical trials completed product for the treatment of fibromyalgia; and JZP-8, an intranasal formulation of clonazepam, which has completed Phase II clinical trial for the treatment of acute repetitive seizures in epilepsy and solid oral dosage forms of sodium oxybate. The company sells its products through specialty sales force targeting sleep specialists, psychiatrists, neurologists, and pulmonologists. Jazz Pharmaceuticals, Inc. was founded in 2003 and is headq uartered in Palo Alto, California.
- [By Ethan Ryder]
Get a free copy of the Zacks research report on Jazz Pharmaceuticals (JAZZ)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Max Byerly]
COPYRIGHT VIOLATION NOTICE: “Matthew P. Young Sells 1,152 Shares of Jazz Pharmaceuticals PLC (JAZZ) Stock” was first reported by Ticker Report and is the property of of Ticker Report. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece can be read at www.tickerreport.com/banking-finance/4204759/matthew-p-young-sells-1152-shares-of-jazz-pharmaceuticals-plc-jazz-stock.html.