NEW YORK, April 29, 2015 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Moments ago, Analysts Review released new research updates concerning several important developing situations including Rigel Pharmaceuticals, Inc. (NASDAQ: RIGL), Acacia Research Corporation (NASDAQ: ACTG), Legacy Reserves LP (NASDAQ: LGCY), Ubiquiti Networks, Inc. (NASDAQ: UBNT), and ResMed Inc. (NYSE: RMD). Analysts Review provides a single unified platform for investors' to hear about what matters - proudly employing registered CFA® research staff and rigorous compliance procedures. The full research reports are being made available to the public for informational purposes only.
To access our full PDF reports on a complementary basis, please visit the links below.
Today's update concerns the following companies:
Full PDF Download Links (you may have to copy and paste the following links into your browser):
RIGL Research Report: ( http://get.analystsreview.com/pdf/?c=Rigel%20Pharmaceuticals&d=29-Apr-2015&s=RIGL ),
ACTG Research Report: ( http://get.analystsreview.com/pdf/?c=Acacia%20Research%20Corporation&d=29-Apr-2015&s=ACTG ),
LGCY Research Report: ( http://get.analystsreview.com/pdf/?c=Legacy%20Reserves&d=29-Apr-2015&s=LGCY ),
UBNT Research Report: ( http://get.analystsreview.com/pdf/?c=Ubiquiti%20Networks&d=29-Apr-2015&s=UBNT ),
RMD Research Report: ( http://get.analystsreview.com/pdf/?c=ResMed&d=29-Apr-2015&s=RMD ).
Analyst Update: Earnings Updates, Dividend Distribution and Top Management Changes
Reviewed by: Rohit Tuli, CFA®
U.S. stocks closed mixed on Tuesday as investors remained vigil over tech earnings and the Federal Reserve's concluding statement on Wednesday. The Dow Jones Industrial Average advanced 0.40%, to close the day at 18,110.14, and the S&P 500 gained 0.28%, to 2,114.76. However, the NASDAQ Composite was down 0.10%, to finish the session at 5,055.42. European stocks tumbled on Tuesday amid concerns over Federal Reserve's meeting outcome. Germany's DAX 30 fell 1.89%, France's CAC 40 lost 1.81%, and London's FTSE 100 ended 1.03% lower on Tuesday. Meanwhile, Asian stock markets mostly closed lower on Tuesday. The Shanghai Composite Index and Australia's S&P ASX both fell on Tuesday, while Hong Kong's Hang Seng index was flat.
Rigel Pharmaceuticals reported its financial results for Q4 2014 and the year ended December 31, 2014, early last month. For Q4 2014, Rigel reported a net loss of $22.3 million, or $0.25 per share, compared to a net loss of $16.9 million, or $0.19 per share, in Q4 2013. Contract revenues from collaborations of $8.3 million in Q4 2014 came in higher than $5.8 million in the fourth quarter of 2013.
Acacia Research Corp. (ACTG) announced its Q1 FY15 financial results on April 23, 2015. Revenue for Q1 FY 15 was $34.2 million, as compared to $12.6 million in Q1 FY14. Loss narrowed to $13.1 million or 27 cents per share in Q1 FY15, as compared to $24.4 million, or 51 cents per diluted share for the comparable prior year quarter.
On April 20, 2015, Legacy Reserves LP announced that in response to the sustained steep decline in commodity prices, it has reduced quarterly dividend distribution to $0.35 per unit to more accurately reflect the cash flow generation of assets at current commodity prices. The Company continues to execute its $30 million capital spending budget and said that it is realizing better-than-expected reductions in operating and capital costs.
On April 23, 2015, Ubiquiti Networks Inc. announced that Craig L. Foster, the Company's CFO and a member of the Board, has resigned. Ubiquiti is looking for a new CFO. Hartley Nisenbaum, Executive VP, Operations and Legal Affairs, has been appointed as the Company's interim CFO.
On April 23, 2015, ResMed Inc. announced results for its quarter ended March 31, 2015. Revenue and net income for the quarter were $422.5 million and $91 million, respectively, a corresponding rise of 6% and 1% compared to the quarter ended March 31, 2014. Diluted EPS increased 2% YoY to $0.64.
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