Separately, analysts at Wells Fargo & Co. initiated coverage on shares of Arena Pharmaceuticals in a research note on Thursday, April 24th. They set a “market perform” rating on the stock.Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) net profit margin is -30.20% and weekly performance is -2.01%. On last trading day company shares ended up $5.86. Analysts mean target price for the company is $7.83. Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) distance from 50-day simple moving average is -7.13%.
On Jun 04, 2014 Hovnanian Enterprises, Inc. (NYSE:HOV), a leading national homebuilder, reported results for its fiscal second quarter and six months ended April 30, 2014. Total revenues were $449.9 million for the second quarter ended April 30, 2014, an increase of 6.4% compared with $423.0 million in the fiscal 2013 second quarter. For the six months ended April 30, 2014, total revenues increased 4.2% to $814.0 million compared with $781.2 million in the first half of the prior year. Hovnanian Enterprises, Inc. (NYSE:HOV) shares fell -2.83% in last trading session and ended the day on $5.15. HOV Gross Margin is 6.50% and its return on assets is 0.50%. Hovnanian Enterprises, Inc. (NYSE:HOV) quarterly performance is 8.88%.
Plug Power Inc. (PLUG), the red hot fuel cell producer that is making headlines this year, has just added another spark to its growing list of hydrogen-powered fuel cell developments. The company announced in a blog post on its website that it had just completed a demonstration of its new fuel cell beta unit, which would power airport ground support equipment (GSE), including baggage loaders, aircraft tuggers, and auxiliary power units. Plug Power Inc (NASDAQ:PLUG) shares moved down -1.06% in last trading session and was closed at $4.68, while trading in range of $4.62-$4.82. Plug Power Inc (NASDAQ:PLUG) year to date performance is 201.94%.
Synergy Resources (AMEX: SYRG) has provided an operational update of its fiscal 2014 drilling program. In early May, Synergy brought on production five of six wells planned on the Phelps pad. The five wells averaged 26 frac stages and are comprised of two Niobrara C wells, one Niobrara B well and two Codell wells. Three of the wells were completed using sliding sleeves and two of the wells were completed using the plug and perf method. Each of the five wells averaged 544 BOEs per day over the first thirty days of production and consisted of 76% oil. The best performing well on the pad, a Codell completed with 28 frac stages, averaged 668 BOEs over the 30 day period.Synergy Resources Corp (NYSEMKT:SYRG) ended the last trading day at $13.25. Company weekly volatility is calculated as 6.19% and price to cash ratio as 18.80. Synergy Resources Corp (NYSEMKT:SYRG) showed a negative weekly performance of -3.00%.
SBA Communications Corporation SBAC +0.65% (“SBA”) announced that it has entered into a definitive agreement with certain subsidiaries of Oi SA (ADR) (NYSE:OIBR), one of Brazil’s largest telecommunications service providers, and its affiliates, under which SBA will acquire 1,641 wireless sites in Brazil. Upon closing of the transaction, Oi will enter into a long-term lease with SBA, with monthly lease payments, for antenna space on each of these sites. The sites currently have 1.4 tenants per site (including Oi) and include leases with all of the major wireless carriers in Brazil. The transaction, subject to customary closing conditions, is expected to close by year end 2014. This transaction was exclusively negotiated and is on terms and conditions similar to SBA’s acquisition of 2,007 sites from Oi, which transaction closed March 31, 2014. Oi SA (ADR) (NYSE:OIBR) weekly performance is -6.52%. On last trading day company shares ended up $0.858. Analysts mean target price for the company is $1.45. Oi SA (ADR) (NYSE:OIBR) distance from 50-day simple moving average is -9.15%.