Stocks In News: MannKind Corporation, MEMC Electronic Materials Inc, RR Donnelley & Sons Co, Zions Bancorporation
MannKind Corporation(NASDAQ:MNKD) shares increased 2.90% to $6.74. The company on May 9 posted financial results for the first quarter ended March 31, 2013. For the first quarter of 2013, total operating expenses were $36.4 million, compared to $33.9 million for the first quarter of 2012, an increase of $2.5 million. The net loss applicable to common stockholders for the first quarter of 2013 was $41.0 million, or $0.15 per share based on 280.1 million weighted average shares outstanding, compared with a net loss applicable to common stockholders of $38.2 million, or $0.27 per share based on 143.2 million weighted average shares outstanding for the first quarter of 2012. The number of common shares outstanding at March 31, 2013 was 289.4 million.
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MEMC Electronic Materials, Inc.(NYSE:WFR) shares increased 2.01% to $7.60. The company on May 9 posted first quarter net loss attributable to shareholders of $89.4 million, narrower than prior-year loss of $98.6 million. On a per share basis, loss totaled $0.40 compared with loss of $0.43 last year. On an adjusted basis the firm posted loss per share of $0.16 for the three months. Analysts on average estimated loss per share of $0.14 for the period. The company clocked revenue of $443.6 million, down from $519.2 million last year. Analysts were looking were revenue of $423.14 million for the quarter.
RR Donnelley & Sons Co(NASDAQ:RRD) shares increased 1.71% to $13.06.The company on May 28 announced that it has been awarded a multi-year multi-million dollar agreement by Williams-Sonoma, Inc. that renews and significantly expands the companies’ relationship. Under the terms of the agreement RR Donnelley will provide printing, sophisticated co-mailing and mailing logistics services for all of Williams-Sonoma, Inc.’s catalogs.
Zions Bancorporation(NASDAQ:ZION) shares climbed 2.04% to $28.05. ZION‘s stock had its “underperform” rating reiterated by stock analysts at Sanford C. Bernstein in a report issued on May 28. They currently have a $21.00 price objective on the stock. Sanford C. Bernstein’s target price points to a potential downside of 23.61% from the company’s current price.
Additionally, the company will begin trading ex-dividend on May 21, 2013. A cash dividend payment of $0.04 per share is scheduled to be paid on May 30, 2013. Shareholders who purchased ZION stock prior to the ex-dividend date are eligible for the cash dividend payment. This represents an 300% increase over the prior quarter. At the current stock price of $27.39, the dividend yield is .58%.