Month: June 2016

Murphy Oil Corporation ’s MUR Canadian unit, Murphy Oil Company Ltd. ("MOCL"), has completed the sale of Syncrude Canada Ltd. to Suncor Energy Inc. […]

Incyte Corporation INCY announced that the FDA has granted Breakthrough Therapy status to Jakafi (outside the U.S.: Jakavi) for the treatment of patients suffering from acute graft-versus-host disease (GVHD). Incyte’s shares gained 4% on the news. We note that the FDA usually grants Breakthrough Therapy status to expedite the development and review of drugs for the treatment of serious or life-threatening conditions, and to help ensure that people have access to them through FDA approval as soon as possible. […]

PPG Industries Inc. PPG declared that Enviro-Prime Epic electrocoat (e-coat) technology has secured full approval from the PSA Group, subsequent to the production-line conversions and testing at two of the automaker’s plants in Europe. Enviro-Prime EPIC e-coat is a patented, metal-free catalyst technology that provides greater smoothness, is corrosion resistant and also gives a thin-film pretreatment performance […]

The board of directors of DTE Energy Company DTE approved a 5.5% increase in its quarterly dividend rate. The revised dividend of 77 cents per share will be distributed on Oct 15, 2016, to shareholders of record at the close of business on Sep 19. The latest hike marks a 4 cent per share increase from the previous dividend of 73 cents per share and reflects management's confidence in its long-range growth plan […]

Declining top and bottom lines are not something new for the beauty products company, Avon Products Inc. AVP . […]

General Mills Inc. GIS is set to report fourth-quarter and fiscal 2016 results on June 29, before the market opens. Last quarter, the company delivered a positive earnings surprise of 4.84%. […]

On Jun 24, 2016, we issued an updated research report on WestRock Company WRK , a provider of paper and packaging solutions in consumer and corrugated markets. WestRock’s recent spin-off of its specialty chemicals business, into a new independent public company Ingevity Corp. NGVT is a prudent move as it was not in line with the company’s core business. […]

Windstream Holdings Inc. WIN has sought permission from the U.S. telecom regulator Federal Communications Commission (FCC) to discontinue its operator assisted legacy voice services across its ILEC (incumbent local exchange carrier) and CLEC (competitive local exchange carrier) territories. […]

On Thursday, the Federal Reserve released the Dodd-Frank Act supervisory stress test 2016 (DFAST 2016) results, which reflected the continued stability in the banking system despite the Fed’s harsher hypothetical “severely adverse” scenario this time. The second straight year of clearing the first part of the annual stress test reaffirms that the U.S. […]

The uneven growth in the U.S. economy shows little sign of recovery. In fact, the investment market is becoming all the more jittery with the global qualms adding further uncertainty to what the market has been facing so far. […]

Putting all speculation to rest, the Britons have voted in favor of exiting the European Union. Results of the U.K. referendum revealed that 51.9% of the votes (17,410,742) were cast in favor of Brexit while 48.1% (16,141,242) opposed the notion. […]

Gold is getting its sheen back after a harrowing 2015, manifested by a roughly 25% surge since the beginning of this year. The yellow metal’s recovery this year has been backed by a concoction of factors including mounting worries over the global economy, volatility in equities, slowdown in China and introduction of negative interest rates by several of the world’s central banks that have fueled safe-haven demand for gold. Gold has been the best performing asset this year, outperforming major equity indices, investment grade and high yield bonds and commodity indices […]

The Votes Are In — Great Britain Will Not Remain Part Of The European Union (EU) By a margin of 51.9% to 48.1% on a 72.2% turnout, the U.K. electorate voted to leave the EU in a historic referendum. Why the ‘NO’ Vote Supporters of ‘Vote Leave’ mainly point toward Europe’s migration crisis and continued Eurozone travails […]

As global equity markets went in a tizzy with the U.K’s shocking decision to exit the European Union or Brexit, various U.S. companies from diverse sectors also felt the ripple effect. Although the Brexit referendum is not legally binding and offers a likely two-year window for the entire process to be completed, it has certainly created a wave of uncertainty among investors […]

The Dow was guided entirely by the chances of a Brexit this week. Markets swung between gains and losses as the odds of a Brexit waxed and waned over the week. Investors closely watched the results of opinion polls conducted ahead of the crucial referendum […]

Over the last five trading days, the major banks showed a bullish trend. Investors’ confidence received a boost with the banks clearing the annual regulatory stress test successfully. The results reflect banks’ capability of withstanding economic downturn and negative U.S […]

After months of speculation, the historic headline for the day is “Brexit results: Britain votes to leave the EU.” After being a part of the EU for 43 years, the vote in favor of Brexit has sent shockwaves throughout the world. Official results show that the “Leave” campaign secured 51.9% of the votes. […]

Wall Street has been taken unawares by Tesla Motor 's TSLA shocking offer to buy SolarCity SCTY on Tuesday. Surprisingly, the $2.8 billion all-stock bid has grabbed as much attention as such heavyweight issues like the presidential race, gun control controversy, ISIS terror and Brexit hullabaloo. […]

As Britain voted to leave the European Union (EU), the British Prime Minister David Cameron announced his resignation. The European project of greater unity that was conceived from the ashes of World War 2 also received a deathblow, making this the most significant historical moment, perhaps of all times. Of course, a Brexit poses serious treats to the British economy […]

New home sales dropped in May from a more than eight-year high in April. Data released by the U.S. Census Bureau and the Department of Housing and Urban Development on Jun 23 showed that sales of new single-family homes declined 6% to a seasonally adjusted annual rate of 5,51,000 units in May from a downwardly revised April rate of 5,86,000. […]