Watch List: Organovo Holdings Inc (NYSEMKT:ONVO), Westport Innovations Inc. (USA) (NASDAQ:WPRT), RadioShack Corporation (NYSE:RSH), MRC Global Inc (NYSE:MRC)
Organovo Holdings Inc (NYSEMKT:ONVO) stock decreased 14.02% to $4.60. The company on Aug. 2 announced the sale of 9,000,000 shares of its common stock in an underwritten public offering at a price to the public of $4.50 per share. The net offering proceeds to Organovo from the sale of the shares are expected to be approximately $37.7 million, after deducting underwriting discounts and commissions and other estimated offering expenses, but excluding any exercise of the underwriters’ over-allotment option. The Company anticipates using the net proceeds from this offering for general corporate purposes.
Westport Innovations Inc. (USA) (NASDAQ:WPRT) shares decreased 11.23% to $28.29. The company on August 1 reported financial results for the second quarter ended June 30, 2013 and provided an update on operations. The company’s revenue, excluding joint ventures’ revenues, for the quarter ended June 30, 2013 was $34.9 million compared with $49.1 million for the same period last year. For the quarter ended June 30, 2013 Westport reported a net loss of $33.9 million, or $0.61 loss per share, compared with $6.1 million, or $0.11 loss per share, for the same period last year.
RadioShack Corporation (NYSE:RSH) shares decreased 11.07% to $2.57. In celebration of music fans, RadioShack begins taking pre-orders on August 2 for DECK by SOL REPUBLIC x Motorola, the hot new portable wireless speaker that will make music social.
Additionally, The company on July 23 reported a wider-than-expected quarterly loss and announced the departure of its financial chief, stepping up the pressure on the struggling electronics retailer just months before the holiday selling season.
The company’s net loss widened to $53.1 million (34.5 million pounds), or 53 cents a share, from $21 million, or 21 cents a share, a year earlier. Analysts, on average, expected a loss of 24 cents a share. Sales fell 0.5 percent to $845 million, hurt by store closures.
MRC Global Inc (NYSE:MRC) shares dropped 10.98% to $24.17. The company on August 1 reported net income for the second quarter of $43.9 million or $0.43 per share, compared to $31.3 million or $0.32 per share for the year-ago quarter. Sales for the current quarter declined 11% to $1.27 billion from $1.43 billion in the year-ago quarter. Analysts expected the company to earn $0.38 per share on revenue of $1.31 billion for the quarter.