Shares of Voltari Corporation (VLTC) are higher by nearly 42% to $10.50 in pre-market trading on Monday following the company’s release of Form 10-Q in which it discloses its intention to exit the mobile marketing and ad business and enter into the business of acquiring, financing and leasing commercial real estate properties.
Voltari Corp. said it expects the total cost of its implementation and transformation plan to range from $0.6 – $1.4 million. Included in this estimate are severance and other workforce reduction costs of approximately $0.3 million.
All costs of the co.’s transformation plan are expected to be incurred during FY 2015.
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Twitter, Inc. (TWTR) is up $0.45, or 1.66%, at $27.49, following a NY Post article that seems to suggest the microblogging service is considering Intel (INTC) President Renée James for CEO.
In other Twitter news this morning, Dick Costolo, who stepped down as CEO in June, will step down from the company’s board of directors by the end of the year or when a new CEO is appointed, according to sources familiar with Costolo’s plans.
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In a report published Monday, Cowen analysts maintained an ‘Outperform’ rating while raising their price target on shares of Aquinox Pharmaceuticals (AQXP) to $14 from $3, a 367% increase. On Friday, the Canadian drug company posted a Q2’15 loss of $0.44 per share, compared to analysts’ estimates of a loss of $0.50 per share.
Additionally, the small cap firm released positive mid-stage trial results for an inflammation therapy targeted toward patients with bladder pain syndrome, or interstitial cystitis.
Aquinox shares are up 68.43% to $17.55 in pre-market trading. Ticker closed at $1.79 on Thursday.
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Tesla Motors, Inc. (TSLA) – Reuters Insight column suggests that the Silicon Valley automaker might be losing $4,000 on every Model S electric sedan it sells.
Tesla’s shares are down almost 4 points in pre-market trading.
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Alibaba Group Holding Limited (BABA) – The Chinese e-commerce giant will invest $4.63 billion for a 19.99% stake in Chinese electronics retailer Suning Commerce Group, making Alibaba its second-largest shareholder.
Alibaba is set to release its Q1 2016 earnings results on August 12 before the market open. The Street is looking for EPS of $0.59 and revenue of $3.43 billion. EarningsWhisper.com reports a whisper number of $0.63 per share.
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