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U.S. Energy Initiatives Corporation Inc. (OTC: USEI) shares closed up 109.30 percent on Wednesday with nearly 260 million shares traded. The stock was one of the biggest gainers in the OTC market. The Company announced that they are extremely excited about Congress' decision to legalize the cultivation of Hemp. Pursuant to the passage of the new Farm Bill, the cultivation of industrial Hemp is legal on a Federal level and is clearing the way for industrial Hemp pilot programs in 10 states such as Colorado, Washington, California, Kentucky, Maine, Montana, North Dakota, Oregon, Vermont and West Virginia, where growing the plant is legal.
Get more information on U.S. Energy Initiatives Corporation Inc. and free access to the in-depth equity report at: www.TrendingWallStreet.com/stockquote/USEI
Pernix Therapeutics Holdings, Inc. (NASDAQ: PTX) shares closed up nearly 70 percent on Wednesday with over 8.9 million shares traded. The stock was one of the biggest gainers in the NASDAQ. The company announced that it has hired industry veteran Doug Drysdale as Chief Executive Officer. Mr. Drysdale has also been appointed to the Company’s Board of Directors and shall serve as Chairman. Mr. Drysdale’s appointment is supported by a group of institutional investors led by Athyrium Capital Management, who have agreed to purchase $65 million aggregate principal amount of 8.00% Convertible Senior Notes due 2019 (the “Notes”) from Pernix, providing the company with expansion capital for the acquisition of accretive specialty products to be added to the Company’s portfolio, as well as for working capital and general corporate purposes.
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Bill Barrett Corp. (NSYE: BBG) shares closed down 16.94 percent on Wednesday with about 9.6 million shares traded. Disappointing output guidance prompted Global Hunter Securities to downgrade the stock. Bill Barrett reported full-year production of 14.5 million barrels of oil equivalent (boe), a 30% year-over-year increase. The company also said it had proved reserves of 197 million boe, including 88% growth in reserves at three active oil programs. Despite this the company expects to produce between 11 million and 12.2 million boe in 2014, less than estimated production of 14.5 million boe in 2013.
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T-Mobile US, Inc. (NYSE: TMUS) shares closed up 5.38 percent on Wednesday with about 14.4 million shares traded. The stock was one of the biggest movers on the NYSE. SoftBank Corp.’s founder Masayoshi Son and Sprint Corp. (S) Chief Executive Officer.
Dan Hesse plan to decide in the next few weeks whether to move ahead on a bid for T-Mobile US Inc. after speaking with U.S. regulators, people with knowledge of the matter said. Son will also meet with T-Mobile owner Deutsche Telekom AG (DTE) to relay those conversations so the two companies can determine if they should begin structuring a deal.
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