News / Finance
Mid Day News for Friday September 16, 2011: Freedom Energy Holdings, Inc., Netflix, RPX Corporation, Quepasa Corporation, Dynavax Technologies Corporation
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Freedom Energy Holdings, Inc. (PINKSHEETS: FDMF) announced today 9/16/11, that the company has named the new formula SR 139. The formula was developed specifically to use in the process for shingle recycling, a multi-billion dollar industry.
Recycling asphalt shingles has evolved over the last forty years. Through considerable research and development the industry of recycling shingles is just beginning to have a major impact on the reduction of construction and demolition waste generation. Today, there are a dozen or so states that are utilizing manufacture scrap in their roadways. State Departments of Transportation are beginning to seriously look at the benefits in cost reduction and improvement to the pavement characteristics. A few states have already written specs allowing the utilization of both manufacturing and tear-off scrap. This industry is quickly moving from the infancy stage into a growth stage and with the assistance of SR 139, an exciting new market is about to open for the approximate 11 million tons of asphalt shingle waste generated each year in the United States. (US)(CIWMB 2007; CMRA 2007; Sengoz and Topal 2005; Zickell 2003.
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Netflix (NASDAQ: NFLX) users are voting with their feet: the company said Thursday 9/15/11, that it expects to lose 1 million customers this quarter after it raised prices for customers who wanted access to both DVDs and online content. The upside is that Netflix said its financial projections for the quarter will not be affected by the drop-off in customers, but it’s obviously not a great piece of news to have to announce. Around 80 percent of the now-departed customers were DVD-only subscribers, while Netflix said that the number of subscribers who pay for access to both DVDs and streamed content will remain unchanged.
RPX Corporation (NASDAQ: RPXC) announced on 9/15/11 the pricing of its follow-on offering of 3,000,000 shares of its common stock at $20.49 per share. RPX will sell 1,400,000 shares and selling stockholders will sell the remaining 1,600,000 shares in the offering. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 450,000 shares of common stock from the selling stockholders. Goldman, Sachs & Co., Barclays Capital and BofA Merrill Lynch have acted as joint book-running managers, and Allen & Company LLC, Cowen & Company, Baird and Lazard Capital Markets have acted as co-managers.
Quepasa Corporation (AMEX: QPSA), owner of popular Latino social network Quepasa.com announced today 9/16/11, that its merger agreement with Insider Guides, Inc., DBA myYearbook, the best place to meet new people on the web or mobile device, was amended to remove the closing condition requiring the price per share of Quepasa stock to be $5.00 or more, and to fix the number of shares issuable to myYearbook shareholders in the merger at 17 million, regardless of changes in the trading price of Quepasa stock. Quepasa and myYearbook believe these changes reaffirm their commitment to completing the merger and definitively address questions they have received related to the effect Quepasa's trading prices may have on closing.
Dynavax Technologies Corporation (NASDAQ: DVAX) announced today 9/16/11, that on Sunday, September 18, at 11:30 am CDT at the 51st Interscience Conference on Antimicrobial Agents and Chemotherapy (ICAAC), the company will present additional immunogenicity data from its Phase 3 trial (HBV-16) evaluating the immunogenicity and safety of HEPLISAV versus Engerix-B®. Tyler Martin, M.D., President and Chief Medical Officer of Dynavax, will make an oral presentation in Session No. 80 "New Trends in Vaccines." The location of the presentation (#G1-534) is Meeting Room W194a of the McCormick Place convention center in Chicago, IL where the ICAAC annual meeting is taking place.
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