After-Hours Update: SXL, PFE, APP
Monday, August 23, 2021 7:01 PM

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Sunoco Logistics Partners L.P. (NYSE: SXL) late Monday announced that it has commenced a public offering of 1,750,000 common units. The underwriters will be granted an option to purchase up to 262,500 additional common units. The Partnership intends to use the net proceeds from this offering to reduce indebtedness outstanding under its wholly owned subsidiary, Sunoco Logistics Partners Operations L.P.'s, $395 million revolving credit facility. Shares of the company slumped 2.93% in after-hours trading.

Pfizer Inc. (NYSE: PFE) announced today that the SUN 1087 trial of sunitinib in combination with erlotinib versus erlotinib demonstrated a statistically significant improvement in Progression-Free but not in Overall Survival in patients with previously treated advanced non-small cell lung cancer (NSCLC). Overall survival was the primary endpoint of the study and Progression-Free Survival was a secondary endpoint of the study. No new or unexpected types of adverse events were observed in the study. 

American Apparel, Inc. (AMEX: APP) late Monday announced that it received a letter from the NYSE Amex LLC (the “Exchange”) stating that the company’s timely filing of its Quarterly Report on Form 10-Q for the quarter ended June 30, 2021 (the “Form 10-Q”) is a condition for the company’s continued listing on the Exchange, as required by Sections 134 and 1101 of the Exchange’s Company Guide, and that the company’s failure to timely file the Form 10-Q is a material violation of the company’s listing agreement with the Exchange. As previously disclosed, the company had submitted a plan of compliance on June 1, 2022 to the Exchange. The company has also provided supplemental information to the Exchange to update it on how the company intends to regain compliance with Sections 134 and 1101 of the Company Guide by no later than November 15, 2010. If the updated plan is not accepted, the company may be subject to delisting proceedings. American Apparel was not able to complete the preparation of the financial statements and certain related information required to be included in the Form 10-Q, and therefore was not able to timely file the Form 10-Q, due to the change in the company's independent registered public accounting firm as disclosed in the company's Form 8-K filed on July 28, 2010. The company said that it's newly appointed auditors need sufficient time to complete their review procedures for the quarter ended June 30, 2010. Further, the company said that it intends to file the Form 10-Q as soon as practicable, currently expected by no later than November 15, 2010, adding that, no assurances can be given as to when the Form 10-Q will ultimately be filed.

Disclosure: Author doesn't own any of the stocks discussed here.

 

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