Company Overview and News
WASHINGTON — President Trump on Thursday signed into law a measure that loosens key restraints for banks imposed after the 2008 financial crisis and Great Recession. Savoring the legislative triumph, he called it “the next step in America’s unprecedented economic comeback.”
The US's banks have largely sat out the mergers and acquisitions wave of recent years. While deal records have fallen in almost every other sector, big banks have done almost nothing, shrinking rather than expanding. And merger activity among small and mid-sized banks — some 5,607 of them, at last count — has been subdued.
The legislation, which garnered bipartisan support, will benefit thousands of community banks that had little to do with the 2008 financial crisis. Wall Street firms like JPMorgan Chase (JPM) and Goldman Sachs (GS), on the other hand, are not helped.
On May 21th, Fifth Third Bancorp (NASDAQ:FITB) announced a merger with MB Financial (NASDAQ:MBFI), a Chicago-based mid-sized bank. FITB will pay $4.7 billion, of which 90% will be in stock and the rest in cash. The deal is valued at a 2.8x P/B, which we view as a rich multiple.
WASHINGTON (AP) — Congress moved to dismantle a chunk of the rules framework for banks, installed to prevent a recurrence of the 2008 financial crisis that brought millions of lost jobs and foreclosed homes.
WASHINGTON — Congress moved Tuesday to dismantle a chunk of the rules framework for banks, installed to prevent a recurrence of the 2008 financial crisis that brought millions of lost jobs and foreclosed homes.
(Reuters) - Independent Bank Group Inc said on Tuesday it would buy Guaranty Bancorp for about $1 billion to expand its operations in the state of Colorado.
Fifth Third Bancorp (NASDAQ:FITB) Fifth Third to acquire MB Financial Conference Call May 21, 2018 9:00 AM ET
Investors do not like the premium in terms of the book value and elevated earnings multiple, combined with aggressive synergy targets.
CORTLAND, Ohio, May 22, 2018 (GLOBE NEWSWIRE) -- Cortland Bancorp (the “Company”) (OTCQB:CLDB), the parent company of The Cortland Savings and Banking Company (the “Bank”), announced today that, effective immediately, its board of directors nominated and appointed Thomas P. Perciak as Vice Chairman of the Company board of directors. In his new role, Mr. Perciak will direct his focus toward overseeing corporate governance.
Key elements of legislation that would ease bank regulation by rolling back parts of the Dodd-Frank law designed to prevent a repeat of the 2008-09 financial crisis.
Worldwide dealmaking for 2018 topped the $2 trillion mark this week, on track for the biggest year for mergers and acquisitions ever, according to data from Thomson Reuters Deals Intelligence.
Fifth Third Bancorp (FITB - Free Report) , headquartered at Cincinnati, OH, entered into a stock-cash acquisition deal with Chicago, IL-based MB Financial, Inc. (MBFI - Free Report) , under which the former will be merged with the latter, for a total value of $4.7 billion. The combined entity will form the fourth largest bank in Chicago, in terms of deposits, with a 6.5% market share. However, shares of Fifth Third depreciated 7.
MB Financial, Inc. (MBFI - Free Report) was a big mover last session, as the company saw its shares rise almost 13% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. The stock picked up sharply from the near-flat trend of $42.23 to $44.10 in the past one month time frame. The stock was driven after the company received a takeover bid from Fifth Third Bancorp.
Stocks were sharply higher on Monday after trade tensions with China seem to be coming to quicker end, and the major equity indices were indicated higher on Tuesday as well. The trend of buying the dips has not worked as well as it has in prior years, and many investors have been considering how they want their investments positioned for the longer term.
2018-05-25 - Asif
Overview Heron is a commercial-stage biotechnology company focused on improving the lives of patients by developing best-in-class treatments that address some of the most important unmet patient needs. Heron Therapeutics is developing novel, patient-focused solutions that apply its innovative science and technologies to already approved pharmacological agents for patients suffering from cancer or pain. On August 9, 2016, its first commercial product, SUSTOL, was approved by the FDA. The company developed SUSTOL for the prevention of chemotherapy-induced nausea and vomiting (“CINV”). SUSTOL is indicated, in combination with other antiemetics, in adults for the prevention of acute and delayed nausea and vomiting associated with initial and repeat courses of moderately emetogenic chemotherapy (“MEC”) or anthracycline and cyclophosphamide (“AC”) combination chemotherapy regimens. The company commenced commercial sales of SUSTOL in the U.S. in October 2016. On November 9, 2017...
2018-05-25 - Asif
Overview The company's mission is to deliver high-speed coherent optical interconnect products that transform communications networks, relied upon by cloud infrastructure operators and content and communication service providers, through improvements in performance and capacity and reductions in associated costs. By converting optical interconnect technology to a silicon-based technology, a process the company refer to as the siliconization of optical interconnect, the company believe Acacia Communications is leading a disruption that is analogous to the computing industry’s integration of multiple functions into a microprocessor. The company's products include a family of low-power coherent digital signal processor application-specific integrated circuits, or DSP ASICs, and silicon photonic integrated circuits, or silicon PICs, which Acacia Communications has integrated into families of optical interconnect modules with transmission speeds ranging from 100 to 400 gigabits per ...
2018-05-21 - Asif
Overview Anthera Pharmaceuticals, Inc. is a biopharmaceutical company focused on advancing the development and commercialization of innovative medicines that benefit patients with unmet medical needs. The company currently have two compounds in development, Sollpura and blisibimod. The company licensed Sollpura from Eli Lilly & Co (“Eli Lilly”) in July 2014. Sollpura is a novel non-porcine investigational Pancreatic Enzyme Replacement Therapy (“PERT”) intended for the treatment of patients with Exocrine Pancreatic Insufficiency (“EPI”), often seen in patients with cystic fibrosis and other conditions. The company licensed blisibimod from Amgen, Inc. (“Amgen”) in December 2007. Blisibimod targets B-cell activating factor, or BAFF, which has been shown to be elevated in a variety of B-cell mediated autoimmune diseases, including Immunoglobulin A nephropathy, or IgA nephropathy. Sollpura The exocrine pancreas is responsible for synthesis and secretion of digestive en...
as of ET