Orlando, FL -- (SBWIRE) -- 08/16/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On MannKind Corporation (NASDAQ:MNKD), Sprint Nextel Corporation (NYSE:S).
MannKind Corporation(NASDAQ:MNKD) shares dropped 12.52% and closed at $6.64. The company on August 14 announced positive preliminary results from Study 171, a Phase 3 clinical study of AFREZZA® (insulin human [rDNA origin]) Inhalation Powder, an investigational, ultra rapid-acting mealtime insulin therapy, administered using MannKind's next-generation (Gen2) inhaler (also known as the Dreamboat™ inhaler), in patients with type 1 diabetes.
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Additionally, the company on August 9 reported financial results for the second quarter ended June 30, 2013. The net loss applicable to common stockholders for the second quarter of 2013 was $46.1 million, or $0.16 per share based on 284.0 million weighted average shares outstanding, compared with a net loss applicable to common stockholders of $36.6 million, or $0.23 per share based on 159.9 million weighted average shares outstanding for the second quarter of 2012.
Sprint Nextel Corporation (NYSE:S) shares dropped 0.57% to $6.96. Sprint Corp.’s new owner has picked up a bigger stake in the company and it’s planning to buy more. SoftBank Corp. has been buying more Sprint stock over the course of several transactions that began on August 1, raising its stake in Sprint from 78% to slightly more than 79%.
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Additionally, the company on July 30 reported an operating loss of $874m, a net loss of $1.6bn and a diluted net loss of 53 cents per share for the quarter including costs related to the Nextel network shutdown. Revenues rose slightly to $8.87bn from $8.84bn a year earlier. In the same period a year ago, the operating loss was $629m, the net loss was $1.4bn and the diluted net loss was 46 cents per share.
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