Boyd Gaming Corporation (NYSE:BYD) down by 4.70%, Astex Pharmaceuticals Inc (NASDAQ:ASTX)

Posted by Nathan Alexander May 17, 2013 0 Comment 1395 views


Boyd Gaming Corporation (NYSE:BYD): In Thursday’s trading session, Boyd Gaming Corporation (NYSE:BYD) dropped 4.70%. Its opening price of $13.77 climbed to an intraday high of $13.87 which then headed down to close at $13.18 per share. Over 2.57 million shares exchanged hands in the previous trading session. This number stood above the average volume of 3.25 million that was measured over a 30-day period.

Incorporated in June 1988, Boyd Gaming Corporation is a multi-jurisdictional gaming company. The company owns and operates of 16 gaming entertainment properties and controlling interest in one limited liability Company. Its gaming operations are in Louisiana, New Jersey, Mississippi, Nevada, Illinois and Indiana. It operates in four different segments: Downtown Las Vegas, Las Vegas Locals and Atlantic City Midwest and South.  BYD owns and operates a Hawaiian travel agency as well as a captive insurance company located there. This company underwrites travel-related insurance. Boyd Gaming Corporation (NYSE:BYD) has around 87 acres of land situated on the Las Vegas Strip. The Echelon development project is based here.  The company closed the sale of the Echelon site in March 2013.

Astex Pharmaceuticals Inc (NASDAQ:ASTX): In Thursday’s trading session, Astex Pharmaceuticals, Inc (NASDAQ:ASTX) dipped 1.28%. The opening price of $5.49 touched an intraday high of $5.51 which then headed down to close at $5.42 per share. Close to 0.578 million shares were traded in Thursday’s trading session. This number stood below the average volume of 1.85 million that was measured over a 30-day period.

Astex Pharmaceuticals is focused on discovering and developing novel small-molecule therapeutics that are related to oncology and hematology. It is developing a pipeline of proprietary novel therapies and involved in the creation of de-risked products. Its area of expertise lies in the discovery of fragment-based drugs, which have been the most important advance in the field of discovery chemistry over the past last 20 years. The company has a world-class management team and partners with many leading pharmaceutical companies. Astex Pharmaceuticals, Inc (NASDAQ:ASTX) developed an injectable called DACOGEN(decitabine) and it receives significant royalties on the global sales of the same.  ASTX has very strong cash reserves as well.


About Nathan Alexander

Nathan Alexander holds bachelor’s degrees in Journalism and European Studies from Boston University. Nathan reports round up the day’s business and financial market news and include keynote interviews with major business players and updates on Asian, European and US stock markets. He has interviewed heads of leading European banking institutions such as European Central Bank President Jean-Claude Trichet and HSBC Chairman Stephen Green, and CEOs from the business world including Microsoft founder Bill Gates, Virgin Chairman Sir Richard Branson and former Porsche President and CEO Dr Wendelin Wiedeking.

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