Concerns Diverting Active Stocks Direction: BHP Billiton (NYSE:BHP), Cascadian Therapeutics (NASDAQ:CASC)

Several matter pinch shares of BHP Billiton Limited (NYSE:BHP) [Trend Analysis], as shares surging 3.05% to $41.55 with a share volume of 3.11 Million. Anglo-Australian mining giant, BHP Billiton plc (BHP) reported that its total iron ore production for the second quarter improved 9 percent to 60 million tonnes. Half-year iron ore production rose 4 percent to 118 million tonnes.

Total petroleum production for the December 2016 quarter reduced by 15 percent to 51.4 MMboe. Copper production for the quarter declined 7 percent. BHP Billiton also maintanined its full year production guidance for Petroleum, Iron Ore and Coal. Meanwhile, the company lowered its production guidance for Copper to approximately 1.62 Mt, two per cent below prior guidance, reflecting lower volumes now expected at Olympic Dam. The stock is going forward its 52-week low with 110.90% and moving down from its 52-week high price with 2.77%. To have technical analysis views, liquidity ratio of a company was calculated 1.40 as evaluated with its debt to equity ratio of 0.67. The float short ratio was 0.29%, as compared to sentiment indicator; Short Ratio was 2.48.

Shares of Cascadian Therapeutics, Inc. (NASDAQ:CASC) [Trend Analysis] runs in leading trade, it surging 1.92% to traded at $3.72. The firm has price volatility of 7.82% for a week and 6.83% for a month. Its beta stands at 2.27 times. Cascadian Therapeutics, Inc. (CASC) declared that pricing of the previously reported concurrent but separate underwritten offerings of 23,182,000 shares of its common stock at a price to the public of $3.30 per share, for expected gross proceeds of around $76.5 million and 1,818 shares of its Series E convertible preferred stock at a price to the public of $3,300 per share, for expected gross proceeds of approximately $6.0 million.

Each share of Series E convertible preferred stock is non-voting and convertible into 1,000 shares of Cascadian Therapeutics common stock, provided that conversion will be prohibited if, as a result, the holder and its affiliates would beneficially own more than 19.99% of the common stock then outstanding.

As part of the common stock offering, Cascadian Therapeutics granted the underwriters a 30-day option to purchase 3,477,300 additional shares of Cascadian Therapeutics common stock. The offerings are being conducted as separate public offerings by means of separate prospectus supplements, and neither offering is contingent upon the consummation of the other. Narrow down four to firm performance, its weekly performance was -11.64% and monthly performance was -20.85%. The stock price of CASC is moving down from its 20 days moving average with -17.28% and isolated negatively from 50 days moving average with -30.68%.

 

About Richard Avery

He is a capital projects manager and process design engineer at a large-cap company. He has renowned MBA degree. Before joining SWR, he was a freelance writer for renounce tech websites. He is currently studying for CFP exam. Interests: Tech stocks, Economic Markets, Blue-chips.

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