Today’s Highlight: pSivida Corp. (PSDV), ReneSola (SOL), Msci (MSCI), RXi Pharmaceuticals (RXII)

Posted In Healthcare, Technology - By Linda Barnes On Friday, September 19th, 2014 With 0 Comments

Dallas, Texas 09/19/2014 (ustradevoice) – pSivida Corp. (NASDAQ:PSDV)‘s cash and cash equivalents as well as market securities, were recorded at $18.3 million as of June 30, 2014, which was better than $10 million compared with the same period last year. However, the company is facing cost challenges, which is a cause for concern.  The company reported that its operating expenses surged to $17 million in its 2014 fiscal year, which compared unfavorably with $14.2 million in the prior year. pSivida Corp. (NASDAQ:PSDV) tried to explain the increase in operation expenses and attributed the issue to high costs relating to research and development. That means that a downward adjustment in operating expenses is possible as it puts some projects behind.

ReneSola Ltd. (ADR) (NYSE:SOL) announced an extension of its collaboration with SolarMax to capture new markets.  The companies inked a new partnership that targets the Australia and New Zealand markets. The latest deal involves the supply of SolarMax inverters and other accessories as well as ReneSola Ltd. (ADR) (NYSE:SOL)’s solar panels to customers in the countries. They will target both commercial and residential customers. ReneSola Ltd. (ADR) (NYSE:SOL) and SolarMax are already partnering in markets such as the U.S., Chile, Italy, Germany and the U.K.

Msci Inc (NYSE:MSCI) declared a first ever quarterly dividend of $0.18 per share that will be paid to shareholders on October 31, but will benefit the shareholders of record as of October 1. The company further said it was raising its stock repurchase program to return more money to shareholders. The new buyback budget is $850 million from $300 million. The move signals Msci Inc (NYSE:MSCI)’s intent to return about $1 billion to its shareholders by end of 2016.

RXi Pharmaceuticals Corp (NASDAQ:RXII) said its President and CEO, Dr. Geert Cauwenbergh, will present at an upcoming investor event, during which he is expected to talk about their product pipeline and other issues of interest. The presentation will also touch on RNA-targeted technologies, such as their RXI’109. The 7th Annual BioPharm America Conference will take place on September 24.

About the Author

- Linda Barnes is known for her in-depth politics and economic reporting on national and international news related to finance.

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