Retrophin, Inc. RTRX announced new data from a physician-initiated study on RE-024 for the treatment of pantothenate kinase-associated neurodegeneration (PKAN). Data revealed that patients (n=2) treated with RE-024 demonstrated clinically meaningful improvements, followed by stabilization of disease progression over 47 weeks of treatment […]
On Jun 23, 2016, we initiated coverage on water and waste water service provider Connecticut Water Service Inc. CTWS . The company is well positioned to gain from strategic acquisitions and its regulated operations. […]
QUALCOMM Incorporated QCOM , the world’s leading mobile chipset manufacturer, has filed a lawsuit against smartphone maker, Meizu, in China over the payment of licensing fees. In 2015, the company had inked agreement with the Chinese government for charging Chinese companies for the use of its intellectual properties (IP). […]
Baxter International ( BAX ) engages in the worldwide development, manufacture and distribution of a diversified line of products, systems and services used primarily in the health-care field. The company provides a portfolio of hospital and renal products that service to treat end-stage renal disease, irreversible kidney failure, and acute kidney therapies. The company's products are used by hospitals, clinical and medical research laboratories, blood and dialysis centers, rehabilitation centers, nursing homes, doctors' offices and by patients, at home, under physician supervision […]
FIBRA Prologis Acquires 231,500 Square Feet of Logistics Space PR Newswire MEXICO CITY, June 23, 2016 MEXICO CITY , June 23, 2016 /PRNewswire/ — FIBRA Prologis (BMV: FIBRAPL14), Mexico’s leading owner and operator of Class-A industrial real estate, today announced the acquisition of a 231,500 square foot fully occupied Class-A building for a total investment of US$16.6 million including closing costs. The property was developed by sponsor Prologis and is in the El Salto submarket of Guadalajara . “We are pleased with the acquisition of this newly developed Class-A logistics facility located within Prologis Park Los Altos, an enclosed master-planned park owned by FIBRA Prologis,” said Luis Gutierrez , CEO, Prologis Property Mexico […]
Black Knight Financial Services, Inc. BKFS , a unit of Fidelity National Financial, Inc. […]
On Jun 22, 2016, we issued an updated research report on Manulife Financial Corporation MFC . Manulife is consistently expanding its wealth and asset management business around the world. The company continues to see strong investments in all public asset classes […]
Starwood Hotels & Resorts Worldwide, Inc .’s HOT Aloft Hotel brand is the first one to introduce RoomCast, which is the ‘in-thing’ in technology and a future of in-room entertainment. Nowadays visitors carry their favorite content on their smart devices and have apps like Netflix, YouTube, Pandora, Showtime, ESPN and others on their mobile devices. RoomCast provides an easy way to stream those content to their in-room TV screen directly. […]
Anavex Life Sciences Corp. AVXL announced that the FDA has granted orphan drug status to its lead candidate ANAVEX 2-73 for the treatment of patients suffering from infantile spasms. We note that the FDA usually grants orphan drug status to those candidates that are being developed for the treatment of rare diseases affecting less than 200,000 patients in the U.S […]
Lower gas prices, an improving job scenario and increasing consumer confidence helped the consumer sector make a strong start to fiscal 2016.Energy prices have bounced from a near-term bottom, but are still at low levels. Moreover, in spite of being a cautious shopper, consumers have reduced their debts and have started to spend more, which is proving beneficial for these companies. […]
The subsidiary of Sterling Construction Company, Inc. STRL – Texas Sterling Construction Co – has been announced the low bidder on a $65.3 million Texas Department of Transportation (“TxDOT”) project in the San Antonio, TX area. This is one of the largest awards of the company in Texas in recent years […]
Sunoco LP Enters into Definitive Agreement to Purchase Wholesale Fuel Distribution and Terminalling Business PR Newswire DALLAS, June 23, 2016 DALLAS , June 23, 2016 /PRNewswire/ — Sunoco LP (NYSE: SUN) (“Sunoco”) announced today the execution of a definitive agreement to purchase the fuels business (the “Fuels Business”) from Emerge Energy Services LP (NYSE: EMES) (“Emerge”) for $178.5 million , subject to working capital adjustments. The Fuels Business comprises Dallas -based Direct Fuels LLC and Birmingham -based Allied Energy Company LLC, both wholly owned subsidiaries of Emerge, and engages in the processing of transmix and the distribution of refined fuels. The Fuels Business includes two transmix processing plants with attached refined product terminals located in the Birmingham, Alabama and greater Dallas, Texas metro areas […]
The U.S. market is on a roller coaster ride with recent events spiking up volatility. Speculation surrounding the rate hike by the Fed and volatile gasoline prices triggered by ‘critical’ gas supply are now accompanied by the fear of Brexit […]
Potentially Rewarding Market Trends World demand for coal is expected to grow by 7 percent through 2030 as a result of emerging markets prioritizing cost effective energy production methods over environmental sustainability. India and Southeast Asia hold 26 percent of the world’s population but account for only 13 percent of global energy production. Coal energy’s cost efficiency will be vital to these emerging nations’ strive towards the upper echelon of global markets. […]
Per a Wall Street Journal report, Bank of America Corporation BAC is in talks with the Securities and Exchange Commission (“SEC”) to bring an end to the probe related to breach of rules designed to protect client accounts. The bank may shell out $400 to $450 million to settle these allegations, according to people familiar with the matter. […]
Volkswagen AG VLKAY has been facing significant trouble since the Environmental Protection Agency (“EPA”) revealed that the company had developed a software algorithm to deceive U.S. emission tests. Volkswagen admitted that its diesel vehicles are installed with software that makes the engines appear to have low emission levels during tests. […]
After a nightmarish 2015, this year brought a ray of hope for the basic materials sector, which encompasses a broad range of industries ranging from mining and metals to chemical products. Last year, prices hit multi-year lows due to the economic weakness in China and the first hike in interest rates in almost a decade. […]
Shares of The J.M. Smucker Company SJM reached a new 52-week high of $147.19 on Jun 22, since the company announced upbeat fourth-quarter fiscal 2016 results on Jun 9. Shares of this food company eventually closed at $147.09. […]
Garnero Group Announces Extension of Time to Complete an Initial Business Combination to July 22, 2016 PR Newswire NEW YORK, June 23, 2016 NEW YORK , June 23, 2016 /PRNewswire/ — Garnero Group Acquisition Company (NASDAQ: GGAC) (“GGAC”), a public investment vehicle formed for the purpose of effecting a merger, acquisition or similar business combination, announced today that its shareholders had approved an extension of time for GGAC to complete an initial business combination to July 22, 2016 . In connection with the extension, holders of 12,373,127 of GGAC’s ordinary shares duly exercised their right to convert such shares into a pro rata portion of the funds held in the trust account established in connection with GGAC’s initial public offering. GGAC will distribute approximately $124,349,930 from the trust account to such holders in payment of the aggregate conversion amount. […]
Similar to “too-big-to-fail” banks, the $76 trillion asset management industry continues to be in the focus of the global regulatory bodies amid heightened regulations and scrutiny in the broader financial system post crisis. The Financial Stability Board (“FSB”) proposed 14 recommendations to address the contagion risks, given the structural vulnerabilities in asset management industry. The FSB, a group of international regulators led by Bank of England's governor Mark Carney, called for additional oversight of exchange-traded, mutual and other funds, trading activities of which could potentially pose financial stability risks. […]
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