Glaxo JV Wins FDA Go-Ahead, Chesapeake Drops Four Execs, and 3 More Hot Stocks
GlaxoSmithKline (NYSE:GSK): Glaxo’s joint venture, ViiV Healthcare, has won Food and Drug Administration approval for its once-daily HIV pill Tivicay, which was shown to reduce the HIV virus to undetectable levels in more people than Gilead’s (NASDAQ:GILD) Atripla, the world’s top-selling treatment for the segment. Glaxo has a 76.5 percent holding in ViiV, while Pfizer has 13.5 percent, and Japan’s Shionogi has 10 percent.
Chesapeake Energy Corp. (NYSE:CHK): Four of the company’s top executives — the chief operating officer, executive vice president of production, senior vice president of drilling, and senior vice president of human resources — will be leaving the company, effective immediately. The company is undergoing a an immense reorganization effort.
Sina Corp. (NASDAQ:SINA): A favorable quarterly report has lifted shares over 3 percent, as earnings per share of 21 cents beat estimates by 9 cents and revenues of $152.8 million beat by $7.6 million. The company anticipates third-quarter revenue to reach $176 million-$180 million, well above the $165.5 million consensus. Ad revenue is expected to surge to $151 million-$153 million in that time, although non-ad revenue is expected to drop to $25 million-$27 million due to a $6 million quarter-over-quarter decline in mobile VAS revenue.
First Majestic Silver Corp. (NYSE:AG): EPS of 7 cents missed by 3 cents as revenue weighed in at $48.4 million. Silver production rose 44 percent over last year to about 2.77 million ounces, while silver equivalent ounces increased 55 percent to roughly 3.27 million ounces. Cash costs fell 6 cents to $9.43 per ounce, and the company expects that cash costs in the second half of the year will end below the first half’s levels.
Orbitz Worldwide (NYSE:OWW): Shares of Orbitz are tumbling over 12 percent after it was revealed that PAR Capital sold 8.1 million shares in the travel company. PAR claims the move was an effort to diversify its portfolio, and the investment firm still holds more than 16 million shares — but others don’t seem as easily convinced.