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Stock Beat: AT&T Inc. (NYSE:T), WPX Energy Inc (NYSE:WPX), Anacor Pharmaceuticals Inc (NASDAQ:ANAC)

Stock Beat: AT&T Inc. (NYSE:T), WPX Energy Inc (NYSE:WPX), Anacor Pharmaceuticals Inc (NASDAQ:ANAC)
Written by
Joel Najarian
Published on
October 9, 2014
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AT&T Inc. (NYSE:T), Accuris Networks and BSG Wireless said Thursday they reached an agreement to bring to market a new seamless and secure Wi-Fi hub solution called AT&T Wi-Fi Hub. The hub, which is expected to launch before the end of 2014, will allow wireless operators to provide turnkey Wi-Fi roaming services to their customers. JR Wilson, Vice President of Partnerships & Alliances at AT&T Mobility said, "For the end user, all they will need to do is download an app from their Wi-Fi provider to access Wi-Fi roaming." AT&T Inc. (NYSE:T) shares were down 1.1% at $34.78 in recent mid-day trade, moving within a 52-week range of $31.74-$37.48.WPX Energy Inc (NYSE:WPX) was lower after the oil and gas company late Wednesday announced a new corporate strategy intended to simplify its geographic focus as well as expanding its returns, margins and cash flow over the next five years WPX shares recently were down about 8% at $19.83 apiece, holding slightly above its session low of $19.77 a share. WPX Energy Inc (NYSE:WPX) has traded within a 52-week range of $16.80 to $26.79 a share, rising slightly more than 14% over the past year through Wednesday's close.Ultimately, WPX said it believes the revamped model for the firm will produce a five-fold jump in oil production by 2020 over 2013 levels, also tripling operating margins and the company's overall value over the next five years. The company will narrow its investment strategy to North Dakota, New Mexico and Colorado while targeting its remaining properties for sale. WPX previously announced the sale of its coalbed methane assets in Wyoming and its international interests in Apco.Anacor Pharmaceuticals Inc (NASDAQ:ANAC) said late Wednesday that it intends to offer $70 million aggregate principal amount of convertible senior notes due 2021 in a private placement. The company also intends to grant to the initial purchasers of the convertible notes a 30-day option to purchase up to an additional $7 million to cover over-allotments, if any.Additionally, certain funds affiliated with Venrock Associates, one of ANAC's affiliates, have indicated an interest in purchasing $12.0 million of notes in a concurrent private placement. The Venrock Notes are expected to be sold at the same price, and constitute part of the same series, as the convertible notes. ANAC intends to use a portion of the net proceeds of the offering and the sale of the Venrock Notes to repay outstanding indebtedness under its loan and security agreement, and to use the remaining net proceeds for general corporate purposes. Shares of Anacor Pharmaceuticals Inc (NASDAQ:ANAC), the biopharmaceutical company are trading with a 52-week range of $10.05 - $25.78.

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