Boston, MA 03/05/2014 (wallstreetpr) – UTi Worldwide Inc. (NASDAQ:UTIW) was a mover in the past session, whereby shares traded up almost 10 percent to $10.71, by bell time. That gain came on a large volume session where more than three times normal volume of shares changed hands. The gain of the stock also came on the day that the company announced the completion and closing of its previously declared private offering. The offerings involved $175 million of 7 percent preference shares and $400 million of 4.5 percent senior notes. With the successful completion of the offering, that marked an important step towards refinancing of UTi Worldwide Inc. (NASDAQ:UTIW)’s plan. Approximately $555 million was raised in net proceeds and the company plans to use the funds for debt repayment and other corporate purposed.
Renren Inc (NYSE:RENN) was last seen changing hands at $3.90 per share after gaining 9.55 percent in the last session. The company also ended up the last session after trading a fairly large volume of shares than daily average. The leading social networking platform in China announced Tuesday that it will reported unaudited financial results next month. The company is planning reports for the fourth quarter and fiscal 2013. The results will be released after market close in the U.S. on March 18, at 9:00 p.m. ET. Renren Inc (NYSE:RENN) management will be there to discuss the results.
ISIS Pharmaceuticals, Inc. (NASDAQ:ISIS) was a mover in the last session. Shares of the company rose 8.9 percent to $55.41. It was a trading session that was characterized with higher than normal daily volume changing hands. The stock managed to escalate to a high of $55.97 and dipped to $53.19 in intraday range. ISIS has had its stock estimates and revised in the last 7 days. Investment analysts at Leerink Swann increased their price target on the stock to $55 from $33. However, even with that boost in price target, the new price still suggests a downside from the current price of the stock. On average analysts have a consensus “hold” rating and average price target of $42.64 on the stock of ISIS Pharmaceuticals, Inc. (NASDAQ:ISIS).
