European ADRs Fractionally Lower

European ADRs Fractionally Lower

American depository receipts of European stocks were 0.2% lower at 121.88 on the Bank of New York Mellon Europe ADR Index on Wednesday morning. Decliners in Continental Europe were led by CGG (CGG), a manufacturer of geophysical equipment, 4.8% lower, followed by Banco Bilbao Vizcaya Argentaria (BBVA), a Spanish financial group, down by 3.3% and Materialise (MTLS), a Belgian provider of 3D printing software and services, down by 2.0%. Technology […]

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General Motors Sees 2017 Earnings Topping Last Year’s Outlook

General Motors Sees 2017 Earnings Topping Last Year’s Outlook

General Motors expects adjusted, diluted earnings this year to rise to between $6 and $6.50, up from the outlook given for 2016 of $5.50 to $6 on projections of a strong performance in North America and China. “We’ve generated consistently strong results the last few years by delivering great vehicles, growing the topline and driving efficiencies, while at the same time establishing a leading position in shaping the future of […]

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Intersect ENT Reports Preliminary Q4 Revenue Above Street View

Intersect ENT Reports Preliminary Q4 Revenue Above Street View

Intersect ENT advanced in morning trading on Monday after the commercial stage drug-device company pre-announced higher-than-estimated Q4 revenue and guided for Q1 revenue nearly in line with the Street view. Shares rose more than 2%. Preliminary unaudited revenue for Q4 is expected to be in the range of $24.0 to $24.2 million, an increase of 28% compared to $18.8 million for the year-ago period. That topped the $23.08 million of […]

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J.C. Penney Says Same-Store Holiday Sales Down From 2016

J.C. Penney Says Same-Store Holiday Sales Down From 2016

J.C. Penney said year-over-year sales during the holiday period were down, continuing a very bad week for some of the biggest department store chains in the US. Sales in the nine-week November-December holiday timeframe were down 0.8% from 2015, the company said on Friday. The company still reaffirmed its full-year earnings, before items, target of $1 billion for fiscal 2016. Chief Executive Marvin Ellison said the decline mostly came in […]

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Health Care Shares Keep Nasdaq in the Green

Health Care Shares Keep Nasdaq in the Green

Health care stocks were helping to keep the Nasdaq Composite index near its break-even mark for today’s session, with the NYSE Health Care Index (^NYP) rising nearly 0.9% while shares of health care companies in the S&P 500 (XLV) were up more than 0.5% as a group. In company news, Dynavax Technologies (DVAX) declined Thursday after the biopharmaceutical company today said it was reshaping operations and its strategy – including […]

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Assurant Shares Hit New Record High

Assurant Shares Hit New Record High

Assurant, a risk management firm, said it has agreed to acquire Green Tree Insurance Agency, a subsidiary of Walter Investment Management, for $125 million in cash. Shares of Assurant touched a new record high and Walter shares climbed more than 1% in intraday trading. AIZ trades in a new 52-week range of $64.36 to $95.17. The deal also includes a potential earnout of up to $25 million for an Assurant […]

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Vista Outdoor Cancels Participation in ICR Conference

Vista Outdoor Cancels Participation in ICR Conference

Vista Outdoor, a designer, manufacturer and marketer of consumer products in the outdoor sports and recreation market, has canceled its scheduled appearance at the 2017 ICR Conference, according to a report on Benzinga. A company spokesperson said the company’s participation was withdrawn due to a scheduling conflict, the report added. Vista’s Chief Financial Officer Stephen Nolan was scheduled to speak on Jan. 13. The ICR Conference is an annual investment […]

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General Dynamics Wins Contract From US Navy

General Dynamics Wins Contract From US Navy

General Dynamics has been awarded a $324.5 million modification to a previously awarded contract by the U.S. Navy, the Department of Defense said in a statement on its web site. The contract is for General Dynamics’ National Steel and Shipbuilding Co to definitize the long lead time material of the undefinitized contract action and to award the detail, design and construction of Expeditionary Sea Base 5, the DoD said.

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European Equity Benchmarks Close Mixed

European Equity Benchmarks Close Mixed

The broad-based major European markets were mixed in Thursday’s trading session, with the FTSE hitting a record high for the second straight day, while continental markets edged lower, burdened by falling banks and automotive stocks. In economic news, home prices in Britain were stable in 2016, according to Nationwide’s most recent house price index report. Average home prices in the U.K. have risen by 4.5% in 2016, the same rate […]

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MidEast Shares Mostly Edge Higher

MidEast Shares Mostly Edge Higher

MidEast stocks mostly firmed with some Saudi stocks finding mild support from a rise in crude oil prices. In company news, Al Othaim Markets said it expected a capital gain of 112.1 million riyals ($29.9 million) from the sale of a shopping mall in Ha’el City. Gulf Navigation formed a partnership with SeaQuest. It said it will use the tie-up to expand its business in these areas in the Middle […]

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Biocept Shares Add 6%

Biocept Shares Add 6%

Biocept shares were higher 6% as the company said the Columbia University Medical Center will conduct a study to evaluate the clinical utility of Biocept’s Target Selector liquid biopsy technology to diagnose leptomeningeal metastases (LM) in patients with breast cancer. Biocept’s liquid biopsy platform will be used to test the CSF of breast cancer patients and will be compared to standard methods for confirming the diagnosis of LM. The clinical […]

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Professional Diversity Network Names Wang as CEO

Professional Diversity Network Names Wang as CEO

Professional Diversity Network, an operator of professional networks with a focus on diversity, said Friday that it has named Maoji (Michael) Wang, a company director and investor in Cosmic Forward Limited, as the company’s CEO. At the same time, the company transitioned Katherine Butkevich from CEO to CEO of the company’s largest subsidiary by revenue, NAPW. In addition, the company announced the departure of David Mecklenburger, CFO, who is leaving […]

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PerkinElmer to Sell Medical Imaging Unit

PerkinElmer to Sell Medical Imaging Unit

PerkinElmer said it has agreed to sell its Medical Imaging business, a supplier of flat panel X-ray detectors that serve as components for industrial, medical and dental X-ray imaging systems, to Varian Medical Systems (VAR). Varian said the purchase will be added to the Varian Imaging Components business, which is slated to become an independent public company, Varex Imaging Corporation, through a previously announced separation expected to be completed in […]

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Dow, Nasdaq Set Record Highs

Dow, Nasdaq Set Record Highs

The Dow Jones Industrial Average and Nasdaq Composite set new record highs on Tuesday on gains in telecom and financial stocks, after Wall Street shrugged off recent geopolitical events and continued its march to 20,000 on the blue-chip index. Buoyed by gains in oil futures and the financial markets’ resilience to Monday’s tragic events in Europe, the benchmark averages were higher for a second day as the Trump-rally powers on. […]

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BP Buys Stakes in Exploration Projects

BP Buys Stakes in Exploration Projects

BP said on Monday it had agreed to acquire stakes in off-shore exploration areas near Mauritania and Senegal from Dallas-based Kosmos (KOS.N) as it seeks to add to its oil and gas reserves. The British oil company said it will buy a 62% stake and operating rights of Kosmos’ Mauritania exploration blocks, as well as a 32.49% interest in Kosmos’ exploration blocks near Senegal. The area in Mauritania, include the […]

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LightPath Technologies Prices Underwritten Public Offering of Class A Common Stock

LightPath Technologies Prices Underwritten Public Offering of Class A Common Stock

LightPath Technologies (LPTH) retreated in premarket trading on Friday after the maker of proprietary optical and infrared components, priced an underwritten public offering of 7 million shares of its class A common stock at a price of $1.21 per share, 0.8% lower than the closing price on Thursday. Shares fell as much as 2.4%. The company also granted to the underwriters a 45-day option to acquire an additional 1 million […]

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Aethlon Medical Begins Research to Assess Ability of Hemopurifier to Capture Viruses

Aethlon Medical Begins Research to Assess Ability of Hemopurifier to Capture Viruses

Aethlon Medical said it has begun a research study to validate the ability of the Aethlon Hemopurifier to capture viruses that are associated with increased mortality in immune-suppressed sepsis patients. The study is designed to validate the in vitro capture of Cytomegalovirus, Epstein-Barr virus and Herpes Simplex Viruses. Upon successful completion, Aethlon will seek to demonstrate that the Hemopurifier can simultaneously capture all three viruses. Aethlon recently completed a sepsis-related […]

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Alcobra Discusses Path to Resume MDX Trials With FDA

Alcobra Discusses Path to Resume MDX Trials With FDA

Alcobra held a “productive” face-to-face meeting with the Division of Psychiatry Products (DPP) of the U.S. Food and Drug Administration to discuss the FDA’s decision to place a full clinical hold on the development programs of metadoxine extended release (MDX), and paths to resume human clinical trials with MDX. The company expects to provide further details regarding the MDX regulatory path upon receipt of final meeting minutes from the DPP […]

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Terex Sets 2017 Revenue Projection Below Street, Targets Dividend Increases

Terex Sets 2017 Revenue Projection Below Street, Targets Dividend Increases

Terex, a manufacturer of lifting and material handling products, is up more than 7% in afternoon trading and near its 52-week high after providing its preliminary 2017 outlook as part of an investor day presentation Tuesday. The company said it expects net sales of $4 billion for 2017, below the Street estimate of $4.13 billion. The company also said it is targeting a double-digit annual percentage dividend increase through 2020 […]

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Sinclair Broadcast’s Subsidiary to Amend and Extend Bank Credit Agreement

Sinclair Broadcast’s Subsidiary to Amend and Extend Bank Credit Agreement

Sinclair Broadcast Group said Monday that its wholly-owned subsidiary, Sinclair Television Group, plans to amend certain terms and extend the maturity date of certain loans under its existing bank credit facility. Sinclair is seeking to extend the maturity date of its term B loans from April 9, 2020 and July 31, 2021 to Jan. 2024. In connection with the extension, Sinclair is also seeking to add additional operating flexibility, including […]

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Synergy Pharmaceuticals Reports Positive Results

Synergy Pharmaceuticals Reports Positive Results

Shares of Synergy Pharmaceuticals have surged more than 17%, putting them on track for a 52-week high, after it reported that top-line results from a clinical trial evaluating plecanatide to treat irritable bowel syndrome with constipation (IBS-C) has met the study’s primary endpoint. ┬áThe stock hit a pre-market high of $6.97, above its prior high of $6.16. Preliminary analysis of the data indicates that both plecanatide 3 mg and 6 […]

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Tyson Foods Expects Record Quarter

Tyson Foods Expects Record Quarter

Tyson Foods, a branded food manufacturer, said late Wednesday it is on track for the best quarter in its history, according to remarks made by CEO Tom Hayes at a conference. Hayes and CFO Dennis Leatherby told investors at the Bernstein Consumer Summit the company continues to see growth in its retail and foodservice businesses. “We continue to see success in leveraging consumer insights in our prepared foods’ business, and […]

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NeuroDerm Prices Follow-On Stock Offering at 2.1% Discount

NeuroDerm Prices Follow-On Stock Offering at 2.1% Discount

NeuroDerm said Wednesday that it has priced a follow-on offering of 4 million ordinary shares at a price of $18.75 per share, or a 2.1% discount from the stock’s previous close, for total expected gross proceeds of $75 million. The underwriters have been granted a 30-day option to purchase up to 0.6 million additional shares. The company intends to use the net proceeds to fund its ongoing and planned clinical […]

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Kite Pharma Meets Primary Endpoint In Study Of Non-Hodgkin Lymphoma Drug

Kite Pharma Meets Primary Endpoint In Study Of Non-Hodgkin Lymphoma Drug

Kite Pharma said it met the primary endpoint of objective response rate in its ZUMA-1 trial of a drug for patients with Non-Hodgkin Lymphoma. The study examined Kite’s axicabtagene ciloleucel in a population of 111 patients with diffuse large B-cell lymphoma, primary mediastinal B-cell lymphoma, or transformed follicular lymphoma. A total of 79% of patients achieved an objective response rate and 52% achieved a complete response rate, the company said. […]

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Hilton Worldwide Holdings Board Approves Spin Off of Park

Hilton Worldwide Holdings Board Approves Spin Off of Park

Hilton Worldwide Holdings ┬ásaid on Monday its board approved the spin off of Park Hotels and Resorts and Hilton Grand Vacations timeshare program, and a one-for-three stock split effective at the end of the day on Jan. 3. Park will begin trading under the ticket PK and Hilton Grand Vacations will be under HGV starting on Jan. 4, the company said in a statement. Hilton will have an investor day […]

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