Category: Finance

business, Finance

Mid Cap Insider Selling: Huntsman Corporation (NYSE:HUN), Amkor Technology (NASDAQ:AMKR), Qlik Technologies (NASDAQ:QLIK), Coty (NYSE:COTY), Palo Alto Networks (NYSE:PANW)

Huntsman Corporation (NYSE:HUN) CEO Anthony P. Hankins unloaded 157,483 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $28.00, for a total transaction of $4,409,524.00. Following the transaction, the chief executive officer now directly owns 317,461 shares in the company, valued at approximately $8,888,908. Huntsman Corporation (NYSE:HUN) stock performance was 0.45% in last session … Continue reading Mid Cap Insider Selling: Huntsman Corporation (NYSE:HUN), Amkor Technology (NASDAQ:AMKR), Qlik Technologies (NASDAQ:QLIK), Coty (NYSE:COTY), Palo Alto Networks (NYSE:PANW)

Jason Knox
business, Finance

Nasdaq Watch List: Intel Corporation (NASDAQ:INTC), Broadcom Corporation (NASDAQ:BRCM), salesforce.com (NYSE:CRM), MHR, NVIDIA Corporation (NASDAQ:NVDA)

In our active watch list of the day, read up-to-date news and analysis on Intel Corporation (NASDAQ:INTC), Broadcom Corporation (NASDAQ:BRCM), salesforce.com (NYSE:CRM), MHR, NVIDIA Corporation (NASDAQ:NVDA). The would-be plaintiff in STC.UNM v. Intel Corp. (NASDAQ:INTC), a wholly owned licensing arm of the University of New Mexico, accused Intel Corp  (NASDAQ:INTC) of infringing a patent that arose from collaborative research between university personnel and an employee of … Continue reading Nasdaq Watch List: Intel Corporation (NASDAQ:INTC), Broadcom Corporation (NASDAQ:BRCM), salesforce.com (NYSE:CRM), MHR, NVIDIA Corporation (NASDAQ:NVDA)

Ryan Holtz
business, Finance

Wall Street Hot Runners: Molycorp Inc (NYSE:MCP), NQ Mobile (NYSE:NQ), IAMGOLD (NYSE:IAG), Magnum Hunter Resources (NYSE:MHR), Chelsea Therapeutics (NASDAQ:CHTP)

Molycorp Inc (NYSE:MCP) is said to have been downgraded to Underweight from Neutral by JPMorgan financial analysts. The JPMorgan bank downgraded Molycorp Inc (NYSE:MCP) to Underweight as soon as the company reported its Q1 results, stating that Molycorp will look for another capital raise likely this year. Molycorp Inc (NYSE:MCP) stock performance was 1.45% in last session and finished the day at $2.80. Traded volume … Continue reading Wall Street Hot Runners: Molycorp Inc (NYSE:MCP), NQ Mobile (NYSE:NQ), IAMGOLD (NYSE:IAG), Magnum Hunter Resources (NYSE:MHR), Chelsea Therapeutics (NASDAQ:CHTP)

Kevin Long
Finance, Software

(NYSE:NQ) No Evidence Of Fraud found at NQ Mobile

(NYSE:NQ) The Investigation Team conducted a thorough review of cash reported on NQ Mobile’s financial statements and the Company’s cash transactions, which included the following procedures: obtained bank confirmations for the Company’s accounts through in-person visits and mail

Chinese mobile security software maker NQ Mobile said a special committee had found no evidence of fraud, as alleged by short-seller Muddy Waters Research Group. NQ Mobile also said the committee also found no evidence that the company’s revenues and cash balances were inconsistent with public disclosures. Muddy Waters called NQ Mobile a “massive fraud” in October, a charge NQ Mobile rejected as false.

NQ Mobile’s shares rose about 30 percent in premarket trading.

According to the auditors findings : “The Investigation Team determined that the Company’s cash balances were verifiable and consistent with public disclosures. … (ii) The Investigation Team did not find evidence that the Company’s revenues were inconsistent with public disclosures.”

Benedict commented on NQ Mobile’s activity since the Muddy Waters allegation, “We have seen fees drop off a bit from October to around early to mid April, then we saw fees surge again briefly.”. An independent committee investigating Muddy Waters’ allegations at NQ Mobile Inc (ADR) (NYSE:NQ) has found no evidence of fraud. Block says they continue to investigate NQ Mobile Inc (ADR) (NYSE:NQ) and that he doesn’t think the debate over the company will be over “until regulators step in or NQ’s shares go to zero.”

In the meantime, ChinaRock discloses that is has doubled its stake in NQ Mobile. Both short interest and utilization rose by about one percent on the news, according to Benedict. The utilization rate is now 92 percent.

Continue reading “(NYSE:NQ) No Evidence Of Fraud found at NQ Mobile”

Adam Keintzel
Finance

Hot Movers: National Bank of Greece (ADR) (NYSE:NBG), Dendreon Corporation (NASDAQ:DNDN), Facebook Inc (NASDAQ:FB), Twitter Inc (NYSE:TWTR), Weibo Corp (ADR) (NASDAQ:WB)

National Bank of Greece (ADR) (NYSE:NBG) was added to the “model portfolio” of JPMorgan’s European banking analysts Monday, who also added Banco Popular to the list following last week’s moves by the European Central Bank to improve funding to the banking sector. National Bank of Greece (ADR) (NYSE:NBG) stock performance was -5.13% in last session and finished the day at $3.88. Traded volume was 8.96million … Continue reading Hot Movers: National Bank of Greece (ADR) (NYSE:NBG), Dendreon Corporation (NASDAQ:DNDN), Facebook Inc (NASDAQ:FB), Twitter Inc (NYSE:TWTR), Weibo Corp (ADR) (NASDAQ:WB)

Jason Knox
business, Finance

NASDAQ New Lows: Francesca’s Holdings Corp (NASDAQ:FRAN), Essex Rental Corp. (NASDAQ:ESSX), Papa Murphy’s Holdings Inc (NASDAQ:FRSH), Majesco Entertainment Co. (NASDAQ:COOL)

Francesca’s Holdings Corp (NASDAQ:FRAN) issued an update on its FY15 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.05-1.17 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.21, AnalystRatingsNetwork.com reports. The company issued revenue guidance of $387-399 million, compared to the consensus revenue estimate of $397.72 million. The company also updated its Q2 guidance to $0.28-0.34 EPS. Francesca’s … Continue reading NASDAQ New Lows: Francesca’s Holdings Corp (NASDAQ:FRAN), Essex Rental Corp. (NASDAQ:ESSX), Papa Murphy’s Holdings Inc (NASDAQ:FRSH), Majesco Entertainment Co. (NASDAQ:COOL)

Richard Atkins