Month: July 2018

Goldman Sachs GS will be reviewing equity capital market transactions at its Australian branch after being accused of misleading potential investors in a block trade transaction that the unit had undertaken in relation to shares of Healthscope Limited in November 2015. The Australian Securities and Investments Commission (“ASIC”) has put forth concerns over "certain representations" that Goldman Sachs Australia made to investors about minimum fixed demand. Goldman Sachs Australia (GS Australia) has been asked to pay $500,000 into a community fund and sign an enforceable undertaking that will require it to tighten controls of its bookbuild messaging of certain transactions […]

Macau, which is the world’s largest gambling hub, has disappointed investors with lower-than-expected revenues for the second successive month. Although gambling revenues from the Macau region increased 12.5% in June, it fell short of analyst expectations. Shares of companies such as MGM Resorts International MGM , Melco Resorts & Entertainment Limited MLCO , Wynn Resorts, Limited WYNN and Las Vegas Sands Corp. […]

Adding pressure to the already strained relationship between the United States and China, the Trump administration has sought to block the entry of China Mobile Limited CHL in the country, citing security concerns. The stock fell sharply on the news in local bourses and is likely to continue its downtrend in the U.S. market as well. […]

Brown & Brown, Inc . BRO recently acquired Health Special Risk, Inc. The acquisition will help this Zacks Rank #2 (Buy) insurance broker add capabilities to its special risk and accident & health portfolio […]

Black Hills Corp .‘s BKH natural gas utility subsidiary announced that it has submitted a 35-mile natural gas pipeline construction proposal to the Wyoming Public Service Commission (WPSC) in the month of May 2018. The extended Natural Bridge Pipeline will supply additional volumes of natural gas to provide efficient services to customers in Wyoming. The new 12-inch steel pipeline will be connected with the 750-mile transmission pipeline system which serves the Riverton and Casper areas […]

Centene Corporation CNC recently announced that it has completed its acquisition of substantially all the assets of Fidelis Care for a transaction worth $3.75 billion. With this buyout, the company would be able to establish its presence in the state of New York. Fidelis Care, the leading government health plan provider in New York, would enable Centene to expand its nationwide dominance in government sponsored healthcare as well as enter New York, the country’s second largest managed care state in terms of membership. […]

Avista Corporation AVA has made a filing to Idaho Public Utilities Commission (IPUC) for approving its annual fixed cost adjustment (FCA) in Idaho. If lent a nod, the overall annual electric and natural gas revenues in the region will decrease by $7.2 million (2.9%) and $2.7 million (4.5%), respectively. The nod is expected to be implemented with effect from Oct 1, 2018, for electricity and Nov 1, 2018, for natural gas […]

Merck and Co., Inc. MRK gained priority review for yet another supplemental biologics license application (sBLA) for its PD-1 inhibitor, Keytruda. […]

AstraZeneca AZN announced that the Japanese regulatory authorities have granted approval to its PARP inhibitor, Lynparza tablets for the treatment of patients with unresectable or recurrent BRCA-mutated metastatic breast cancer in patients who have received prior chemotherapy. With this approval, Lynparza becomes the first and only PARP inhibitor approved for use beyond ovarian cancer in Japan. This is the second indication for which Lynparza is now approved in Japan. […]

Finisar Corporation FNSR has decided to expand the vertical-cavity surface-emitting lasers (VCSELs) and associated 3D sensing technologies by inaugurating a new manufacturing facility in Sherman, TX on Jul 9. The production process is expected to begin by the end of this year. VCSEL Capital of the World The site building, previously owned by MEMC and SunEdison, was under renovation since December 2017 […]

Microsoft MSFT recently entered into a partnership with Israel-based global wireless broadband provider, RADWIN. The companies have teamed up to offer cost-effective broadband internet services to “underserved and unserved” rural communities worldwide. The 21st century is basically governed by the internet and consequently the access to this service forms the very basis of this world. […]

Allegion plc ALLE recently completed two acquisitions through its subsidiaries, including Door and Access Systems business of GWA Group Limited, and ISONAS Security Systems Inc. While the Door and Access Systems buyout is worth AUD 107 million — funded through cash in hands and funds available through revolving credit facility, the financial terms of the ISONAS buyout was not disclosed by the company. The deal to acquire GWA Group’s Door and Access Systems business was originally announced in May 2018 while that of ISONAS was communicated in June […]

Acxiom Corporation ACXM has recently inked a deal with Interpublic Group (IPG) to divest its Acxiom Marketing Solutions segment (“AMS”). The company anticipates receiving $2.3 billion in cash for the deal. The transaction is subject to regulatory clearance and projected to close in third quarter of fiscal 2019. […]

On Jul 3, 2018, we initiated coverage on Knight-Swift Transportation Holdings Inc . KNX . […]