Market Update: Thursday's MidDay Movers: Greece, Iran; Netflix Soars, Two IPO's Skyrocket, and More!

The Eurozone agreed to a three-year Greece bailout early Thursday; Greek lawmakers agreed to approve what is known to be a harsh austerity deal that was demanded by the bailout creditors. According to the Wall Street Journal, Greek Prime Minister Alexis Tsipras has publicized that he does not fully believe in the agreement. Tsipras has lost support from numerous lawmakers on his own left-wing (Syriza party).

Riots broke out outside the Parliament building in Athens at an anti-austerity protest rally. Mr. Tsipras commented “I don’t believe the measures will benefit the economy, but we are forced to adopt them.” The European Central Bank raised emergency lending by 900 million Euros early Thursday; ECB President Mario Draghi stated the extra lending was in response to “several positive things that have happened,” regarding Greece’s negotiating with their creditors.

President Barack Obama has promised Congress that he will use his power to veto in the case of lawmakers voting down on the Iran deal. Lawmakers have nearly 60 days to review and decide to approve or deny the deal made with Iran.

Despite the world news, the US markers continue to move:

WINNERS:
Chiasma, Inc CHMA skyrocketed 40 percent on its Initial Public Offering. The pharmaceutical company offered ~6.36 million common shares at the price of $16, up from the initial predicted range of $13-$15.

Ollie’s Bargain Outlet Holdings OLLI soared 35 percent also on its IPO; The outlet retailer has offered 8.925 million common shares at the price of $16, up from initial price range of $13-$15.

Amyris Inc AMRS was lifted 24 percent after the renewable products company reported a new, multi-year collaboration agreement with a global food ingredients supplier.

Partner Communications Company Ltd PTNR was up 15 percent after the the telecommunications company announced it will release its Q2 results on August 15.

Amira Nature Foods Ltd ANFI soared 15 percent after the food product provider beat earnings by 6 cents; the company reported an EPS of $0.52 on sales of $226.8 million, versus the projected $217.26 million.

Netflix Inc NFLX heightened 15 percent after the tech giant reported quarterly revenues that were 22.7 percent higher than last year; it reported earnings of 6 cents per share versus analyst projections of 4 cents per share.

LOSERS:
Quantum Corporation QTM dwindled 22 percent after the company lowered its first quarter guidance; the company’s total revenues were $111 million versus past projections of $125-$130 million.

Rovi Corporation ROVI declined 17 percent. According to Reuters, the company said it will appeal a court decision to invalidate five of its own patents and the order that Netflix did not infringe on those patents.

Travelzoo Inc TZOO was down 16 percent after the global internet media company reported earnings of 9 cents per share, one cent lower than expectations, along with a fall in revenues; revenues fell 7.6 percent year-over-year to $34.1 million.

Synthetic Biologics Inc SYN shot down 14 percent after the biotech company priced its underwritten public offering of ~13.3 million common stock shares at $3 per share.

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Posted In: EarningsNewsGuidanceOfferingsIPOsEconomics
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