Boston, MA 03/27/2014 (wallstreetpr) – China XD Plastics Co Ltd (NASDAQ:CXDC) is on a reversal today after it soared enormously a day earlier on account of its easy beat to the analysts’ expectations in the fourth quarter. The company specializing in chemicals saw its fourth quarter revenue grow 128.1% to $384.6 million, as against the revenue of $168.6 million in the previous year’s same quarter. At the same time, its net income increased from $17.3 million to $57.5 million. As the full year is concerned, the revenue stood at $1.05 billion and net income in the order of $133.8 million, in comparison to $599.8 million revenue and $85.9 million net income in 2012. The company’s CEO Jie Han mentioned that the reason for the accelerated growth of the company comes on account of its successful execution of business strategy to gain market share.
The week turned out to be action packed for investors in Double Eagle Petroleum Co (NASDAQ:DBLE) as it recently announced multiple decisions taking place within the company. Firstly, Charles F. Chambers is taken in as the new Chairman and Chief Executive Officer of the company and he will assume the new role with effect from April 1, 2014. Secondly, as per the planned transition of the company, it has decided to change its name to Escalera Resources Co.And, lastly, the company has declared an equity private placement of $4,825,000 worth of its common stock and the net proceeds from this offering its intended to be used to meet working capital needs and other general corporate purposes.
Yongye International, Inc (NASDAQ:YONG) popped by over 13% yesterday and is on the higher side in the opening phase today too after the company signaled the increase in merger price. The company disclosed that the Morgan Stanley led Consortium raised its takeover bid price from $6.69 to $7 per share now. It is to be noted that the shareholders did not approve the last bid offer. So, if the deal gets through then there will be an upside of $0.20 in the current trading price of the stock. However, the shareholders of the company should agree to clear way for this merger post the increased offer, as they were concerned with the previous buyout price, being not adequate.
