Month: May 2013

Recently, GlaxoSmithKline ( GSK ) announced that two new melanoma drugs, Tafinlar (dabrafenib) and Mekinist (trametinib) have been cleared by the US Food and Drug Administration (FDA). Glaxo intends to launch both drugs by early third quarter of 2013. The FDA approved Tafinlar for BRAF V600E mutation-positive unresectable or metastatic melanoma patients. […]

On May 30, we reiterated our recommendation on American Express Co. ( AXP ) (AmEx) to Neutral based on its stable billed business trends and capital flexibility, which augur sustained growth in the future. However, higher loan loss provisions and lower ROE increase the operational risks […]

Water and wastewater management company The York Water Company ( YORW ) filed for a rate hike with the Pennsylvania Public Utility Commission (PPUC). The filing is for an annual increase in the water rate by $7.1 million and a general increase in wastewater rates for the Asbury Pointe Subdivision to $27,960 per year. The filing for higher rates aims to recover the $49 million invested by York Water Company in York and Adams counties since its 2010 rate filing. […]

Good news flowed in at Bristol-Myers Squibb ( BMY ) and partner AstraZeneca ( AZN ) from the UK recently when the National Institute for Health and Clinical Excellence (NICE) issued a Final Appraisal Determination (FAD) for their type II diabetes drug Forxiga (dapagliflozin). NICE has recommended the use of the product for adults suffering from type II diabetes in combination with metformin and in combination with insulin with or without other oral anti-diabetic drugs in England and Wales. We note that the FAD will act as the basis for the final NICE guidance. […]

Aluminum producer Alcoa Inc. ’s ( AA ) unsecured debt ratings were downgraded by Moody's Investors Service to Ba1 from Baa3. Moreover, the rating agency assigned a Ba1 Corporate Family Rating and a Ba1-PD Probability of Default Rating […]

Canada-based Rogers Communications Inc. ( RCI ) entered into a 20-year deal with Videotron to expand the 4GLTE coverage across Québec and the Ottawa region in Canada. Per the agreement, Rogers and Videotron will use both their resources to build the 4GLTE network as soon as possible. […]

Emcor Group, Inc . ( EME ) recently received a contract for its subsidiary Dynalectric Company for the installation of electrical systems at the Georgia Gwinnett College. Financial details for this contract have not been disclosed yet. […]

The latest to join the power service reliability program at FirstEnergy Corp ( FE ) is its ancillary Pennsylvania Electric Company (Penelec). Following Metropolitan Edison Company (Met-Ed), Penelec is also looking to speed up vegetation management activity in the state of Pennsylvania. […]

Mondelez International, Inc. ( MDLZ ) recently discussed its strategies to drive long-term growth at the Citi 2013 Global Consumer Conference. […]

SAP AG ( SAP ) and the Chinese government are planning a strategic cooperation to develop intelligent transportation system that will manage the traffic in China’s expanding urban areas in the coming years. SAP and the Chinese High-Way Group intend to form collaboration for research on integrated solutions for transportation communications and the development of intelligent traffic management systems. […]

On May 30, we reiterated our Outperform recommendation on Hilltop Holdings Inc. ( HTH ) based on its strong first-quarter 2013 results and business diversification following the acquisition of Plains Capital Corp. […]

Elan Corporation ( ELN ) recently provided a brief update on its cash position and multiple sclerosis drug Tysabri’s value to its shareholders and the market at large. Elan stated in its press release that the underlying value of Tysabri is $11.85 per share with an upside potential of $17.15 per share. The company has set its cash value at $3.65 per share […]

Yum! Brands Inc. ’s ( YUM ) signature brand KFC recently made its debut in Mongolia with the opening of a new restaurant in Ulaanbaatar. The restaurant named KFC Mongolia was unveiled by Yum!’s operational arm, Yum! Restaurants International (YRI) in association with its franchisee,Tavan Bogd Group […]

Hyatt Hotels Corporation ( H ) recently unveiled a HYATT house branded property in Minot, ND, in association with Interstate Hotels & Resorts. The HYATT house brand includes upscale, contemporary-lifestyle accommodation targeted at business travelers. Christened HYATT house Minot, the new property will mark the debut of the Hyatt brand in the state […]

Riding on a steady growth momentum, the shares of MetLife Inc. ( MET ) reached its 52-week high at $43.93 on May 29. […]

Endo Health Solutions ( ENDP ) announced recently that its two top executives are leaving the company. The company’s Chief Financial Officer (CFO) Alan G. […]