On Tuesday, Shares of Baidu Inc (ADR) (NASDAQ:BIDU), gained 4.58% to $173.86.
Baidu, declared that the company has accomplished a share exchange transaction with Ctrip.com International, Ltd., following which Baidu has exchanged 178,702,519 Class A ordinary shares and 11,450,000 Class B ordinary shares of Qunar Cayman Islands Limited beneficially owned by Baidu preceding to the consummation of the transaction in exchange for 11,488,381 newly-issued ordinary shares of Ctrip. The share exchange ratio for the transaction is 0.725 Ctrip ADSs per Qunar ADS. As a result of the transaction, Baidu will own ordinary shares of Ctrip representing about 25% of Ctrips aggregate voting interest , and Ctrip will own ordinary shares of Qunar representing about 45% of Qunars aggregate voting interest.
Four representatives, counting James Liang and Jane Sun, chairman and chief executive officer, and co-president and chief operating officer of Ctrip, respectively, have been designated to Qunars board of directors, and Robin Li and Tony Yip, chairman and chief executive officer, and vice president, head of investments, mergers and acquisitions of Baidu, respectively, have been designated to Ctrips board of directors.
Baidu and Ctrip have also agreed to a business cooperation across a broad base of products and services. Baidu anticipates to continue its existing business cooperation with Qunar.
Baidu, Inc. provides Internet search services in China and internationally. It offers Chinese language search platform on its Baidu.com Website that enables users to find relevant information online, counting Web pages, news, images, documents, and multimedia files through links offered on its Website; and international products and services to users in other countries.
Shares of UQM Technologies Inc (NYSEMKT:UQM), declined -53.85% to $0.600, during its last trading session.
UQM Technologies, declared that it has reached definitive agreements with institutional investors to purchase in a registered direct offering an aggregate of 8.0 million units for a total purchase price of about $6.4 million ($0.80 per unit). Each unit comprises of one share of UQM common stock and 0.5 of a warrant. Each warrant gives the warrant holder the right to purchase one share of UQM common stock at a price of $1.31 for a period starting six months from the date of issuance through the fifth anniversary of the date of issuance. The closing of the offering is predictable to take place on or about October 30, 2015, subject to the satisfaction of customary closing conditions.
Oppenheimer & Co. Inc. acted as the Lead Placement Agent and Rodman & Renshaw, a unit of H.C. Wainwright & Co., acted as Co-Placement Agent for the offering.
UQM Technologies, Inc. develops, manufactures, and sells electric motors, generators, and power electronic controllers in the United states and internationally. The company offers propulsion motors and generators, auxiliary motors, and electronic controls and DC-to-DC converters for electric, hybrid electric, plug-in hybrid electric, and fuel cell applications.
Finally, Shares of E I Du Pont De Nemours And Co (NYSE:DD), ended its last trade with 2.80% gain, and closed at $62.06.
E I Du Pont De Nemours And Co, declared third-quarter 2015 operating earnings of $0.13 per share contrast with $0.39 per share in the preceding year. GAAP1 earnings were $0.14 per share, contrast with $0.36 per share in the preceding year.
Third-quarter sales were $4.9 billion, down 17 percent as compared to preceding year due to negative impacts from currency (8 percent), portfolio (1 percent), volume (7 percent) and local price and product mix (1 percent). Year-to-date sales were $19.8 billion, down 12 percent as compared to preceding year due to negative impacts from currency (7 percent), portfolio (2 percent) and volume (3 percent).
While our bottom line continues to benefit from the positive effects of our operational redesign and productivity improvements, we are not happy with our results this quarter, said Nick Fanandakis, Executive Vice President and CFO. We saw noteworthy negative impacts from currency in addition to market weakness in agriculture, emerging market industrial production, and oil and gas. We remain on track with our revised annual guidance of operating earnings per share of about $2.75, an improvement from the preceding year of 3 percent not taking into account currency.
E I. du Pont de Nemours and Company operates as a science and technology based company worldwide. The company’s Agriculture segment offers corn hybrid, soybean, canola, sunflower, sorghum, inoculants, seed products, wheat, rice, herbicides, fungicides, and insecticides.
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