Big News: Hertz Global Holdings, Affymax, General Motors Company
2013-04-02 11:36 ET - News Release
NEW YORK, April 02, 2013 -Bestdarnpennystocks.com, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on Hertz Global Holdings, Affymax, General Motors Company.
Hertz Global Holdings, Inc. (NYSE:HTZ) shares gained 6.48% to $23.33. The company, on Mar. 29, announced that the Company's 5.25% Convertible Senior Notes Due 2014 (the "Notes") will continue to be convertible by holders of the Notes. This conversion right has been triggered because the Company's closing common stock price per share exceeded $10.77 for at least 20 trading days during the 30 consecutive trading day period ending onMarch 31, 2013. Based on this triggering event, the Notes will be convertible until June 30, 2013.
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Additionally, the company, on Mar. 14, announced that its wholly-owned subsidiary, The Hertz Corporation ("Hertz"), intends to offer $250 million aggregate principal amount of senior notes (the "Notes") in a private offering (the "Offering") exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), subject to market and other conditions.
Affymax, Inc.(NASDAQ:AFFY) shares dropped 8.09% to $1.25. The company, on April 2, reported financial results for the fourth quarter and year ended December 31, 2012. The net loss for the fourth quarter of 2012 was$68.3 million (or ($1.85) per share) compared to a net loss of $29.4 million (or ($0.82) per share) for the fourth quarter of 2011.
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Earlier this month, the Company began reorganizing its operations in order to significantly reduce operating costs and negotiating with Takeda to collaboratively focus on the OMONTYS safety and other related FDA issues associated with the recall of the product.
Moreover, on February 23, 2013, Affymax and its partner, Takeda Pharmaceutical Company Limited (Takeda) announced a nationwide voluntary recall of OMONTYS as a result of postmarketing reports regarding safetyconcerns, including anaphylaxis, which can be life-threatening or fatal.
General Motors Company(NYSE:GM) shares declined 0.65% to $27.62. The company expects to sell more high-end versions of its new full-size pickup trucks as American truck buyers opt for advanced safety features thatoutgoing models do not offer, executives said on April 1. The automaker expects to sell more luxurious "crew cab" editions of the 2014 Chevrolet Silverado and GM Sierra, both of which start around $33,000.
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Additionally, the company is recalling a small number of 2013 Buick Encores because the steering wheel could come loose or separate from the steering column, federal safety officials said today. The recall affects 144 Encores equipped with heated steering wheels and built between December 9 and December 28, GM said in a filing with the National Highway Traffic Safety Administration.
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