CG Stocks Overview; Origin Agritech Ltd. (SEED), Craft Brew Alliance Inc (BREW)
Shares of Origin Agritech Ltd. (NASDAQ:SEED) ended Thursday session in red amid volatile trading. The shares closed down -0.02 points or -0.76% at $2.61 with 110,639.00 shares getting traded. Post opening the session at $2.64, the shares hit an intraday low of $2.58 and an intraday high of $2.74 and the price vacillated in this range throughout the day. The company has a market cap of $62.05 million and the numbers of outstanding shares have been calculated to be 22.87 million shares.
Origin Agritech Ltd. (SEED) announced the establishment of its North American operations in Des Moines, Iowa effective August 29, 2016. The North America operations and international relations center will be located at 666 Walnut Street in downtown Des Moines.
This move represents a key step in a series of strategic actions to position Origin as a leading global foundation biotech and seed development company. Over the past six months, the company has also expanded partnerships on biotech traits globally and established a new leadership team.
“Des Moines is an ideal location for Origin’s North American operations, providing superior access to talent, technologies and proximity to our key target markets,” said Bill Niebur, Origin CEO. “Iowa is positioned in the center of agricultural innovation, which will allow Origin to attract and retain great talent, while working collaboratively with, and in close proximity to, our strategic partners.”
Shares of Craft Brew Alliance Inc (NASDAQ:BREW) ended Thursday session in red amid volatile trading. The shares closed down -0.50 points or -2.72% at $17.85 with 106,810.00 shares getting traded. Post opening the session at $18.25, the shares hit an intraday low of $17.70 and an intraday high of $18.30 and the price vacillated in this range throughout the day. The company has a market cap of $348.12 million and the numbers of outstanding shares have been calculated to be 19.24 million shares.
Craft Brew Alliance Inc (BREW) and Anheuser-Busch (AB) announced a series of new commercial agreements that expand and strengthen the companies’ long-term relationship and create new growth opportunities for both companies. The agreements include an amended and extended master distribution agreement, a new contract brewing arrangement, and a new international distribution agreement.
Through the agreements, AB will provide additional support and committed resources to accelerate CBA’s growth strategy, which includes: strengthening its distinctive portfolio of craft brands; maximizing the potential of Kona Brewing Co. as one of the fastest-growing American craft brands; and optimizing CBA’s brewing footprint to drive gross margin expansion and deliver its craft beers to more beer lovers in the U.S. and around the world.