Italy’s political mayhem has taken U.S. investors by surprise. Italy’s president, for the time being, restricted the formation of a new government backed by two euroskeptic, anti-establishment parties. […]
So the markets took a bath in red sauce yesterday, following weekend drama regarding the difficulties Italy faces with a hung parliament, leading to fears that the third largest economy in the European Union will voluntarily exit the EU — “Italexit,” to coin a phrase. The led to further game theory that said instability in the EU as a whole may eventually lead to a breakup of the Eurozone overall. But we are a long way from there; it’s far too early to be a true believer in the destruction of the EU […]
Hunt Mortgage Group Finances the Acquisition and Renovation of a Multifamily Property Located in Wichita, Kansas — Total funding equals $4 million — PR Newswire NEW YORK, May 30, 2018 NEW YORK , May 30, 2018 /PRNewswire/ — Hunt Mortgage Group , a leader in financing commercial real estate throughout the United States , announced today it provided a first mortgage bridge loan to finance the acquisition and renovation of a multifamily property located in Wichita , Kansas. The total Hunt Mortgage Group investment is $4 million . The borrower is Westport Wichita LLC, which is backed by lead sponsor Corridor Ventures. […]
ResMed, Inc. RMD recently announced a definitive agreement to buy HEALTHCARE first — a privately-held provider of software solutions and services to home health and hospice agencies. […]
MGM Resorts International MGM and MGM Growth Properties LLC MGP have reached an agreement to buy Empire City Casino's race track and casino. If Empire City gets a license for live table games on or before Dec 31, 2022 and MGM Resorts accepts it by Dec 31, 2024, then the latter will pay an additional amount of $50 million to the former. […]
Michael Kors Holdings Limited KORS maintained its positive earnings surprise streak for the 12th straight quarter, when it reported fourth-quarter fiscal 2018 results. Revenues also came ahead of the Zacks Consensus Estimate for the fifth straight quarter. The results were driven by robust performance by the Michael Kors and Jimmy Choo brands. […]
Qualcomm Incorporated QCOM has unveiled the world’s first dedicated Extended Reality (XR) platform, the Qualcomm Snapdragon XR1, at the backdrop of the annual Augmented World Expo. The XR1 Platform was rolled out by the company’s subsidiary, Qualcomm Technologies, Inc. […]
In a concerted move to facilitate businesses augment productivity through seamless cloud connectivity, AT&T Inc. T has collaborated with Google Cloud — a suite of cloud computing services offered by Alphabet Inc. GOOGL […]
CenturyLink, Inc. CTL recently secured the industry’s first certifications for alliance partners from Cisco Systems, Inc. […]
Last week, Ameris Bancorp ABCB closed the acquisition of Atlantic Coast Financial Corporation for roughly $145 million (in aggregate). Per the terms, Atlantic Coast Financial shareholders will receive $1.39 in cash and 0.17 shares of Ameris Bancorp for each outstanding share of Atlantic Coast Financial. The deal, announced in November 2017, also resulted in the merger of Ameris Bank (banking subsidiary of Ameris Bancorp) with Atlantic Coast Financial’s subsidiary, Atlantic Coast Bank […]
Duluth Holdings Inc. DLTH is slated to release first-quarter fiscal 2018 results on Jun 5, before the opening bell. […]
In order to boost its paper-based tube and core business, Sonoco Products Company SON has signed a definitive agreement to acquire the remaining 70% interest in the Conitex Sonoco joint venture (JV), for approximately $133 million. The transaction is subject to regulatory reviews and expected to close in third-quarter 2018. About Conitex Sonoco JV The Conitex Sonoco JV was formed in 1998 between Texpack, Inc., a Spanish global provider of paperboard and paper-based packaging products, and Sonoco’s former North America textile cone business. […]
Per a Reuters article, Deutsche Bank DB seeks to spare Russia from its job cut drive and instead focus on strengthening a key business area — commercial banking. Borislav Ivanov, Chief Country Officer for Russia, noted that the Germany-based bank sees the region as a priority. As part of its global restructuring overhaul, Deutsche Bank had trimmed its investment banking operation in Moscow in the last few years. […]
GlaxoSmithKline plc GSK and partner Innoviva, Inc. INVA announced the submission of a regulatory application in Japan seeking approval for their once-daily, single inhaler triple combination therapy, Trelegy Ellipta for the treatment of chronic obstructive pulmonary disease (“COPD”) in adults. […]
Franklin Resources, Inc. ’s BEN shares have dropped 21.4% in the past year compared with the industry ’s gain of around 13.4%, on rising investors’ concerns due to persistent net outflows recorded by the company. Investment management fees have been Franklin’s biggest source of revenues, accounting for about 68%, for the past few years. […]
Clovis Oncology, Inc. CLVS announced that the European Commission (“EC”) has conditionally approved its PARP inhibitor, Rubraca (rucaparib) as monotherapy for the treatment of platinum-sensitive and relapsing ovarian cancer patients with BRCA-mutation in third- or later-line setting. […]
Allergan plc AGN announced a nationwide recall of some sample packs of Taytulla softgel oral contraceptive capsules (1mg/20mcg). Allergan said that four non-hormonal placebo pills were erroneously placed where the contraceptive capsules should have been. This instigated the recall following a physician report on the same […]
Wednesday, May 30, 2018 So the markets took a bath in red sauce yesterday, following weekend drama regarding the difficulties Italy faces with a hung parliament, leading to fears that the third largest economy in the European Union will voluntarily exit the EU — “Italexit,” to coin a phrase. The led to further game theory that said instability in the EU as a whole may eventually lead to a breakup of the Eurozone overall. […]
Utility is one of the most stable sectors for investment, as it deals with basic services. Most Utility players are mature, fundamentally strong and focus on domestic as well as industrial usages. Utility companies are generally regulated. […]
Shares of AstraZeneca, PLC AZN have risen 4.8% so far this year against the Large-Cap Pharma industry ’s decline of 4.9%. Though the drug sector was off to a strong start in 2018, it has struggled thereafter, probably on U.S. market instability and a few negative updates on the pipeline and regulatory front […]
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