Company Overview and News
Over the last five trading days, major banks’ rally continued on expectation of interest rate hike this month. The rate hike will translate into top-line expansion for banks, leading to improved results in the quarters ahead. Further, given the growth in economy, low unemployment rate and healthy consumer sentiment, the demand for loans and other related products of banks are expected to rise. However, imposition of tariffs on $200 billion worth of Chinese goods next week could escalate trade war tensions, impacting consumers and increasing inflation.
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Fifth Third Bancorp’s (FITB - Free Report) plan to acquire Chicago based MB Financial, Inc. (MBFI - Free Report) has gained steam, after MB Financial’s common shareholders accorded their assent to the agreement. The deal is now subject to customary closing conditions, which includes certain regulatory approvals, and is expected to complete by the first quarter of 2019. Fifth Third’s shares have gained 3.
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CHICAGO, Sept. 18, 2018 (GLOBE NEWSWIRE) -- MB Financial, Inc. (the “Company”) (NASDAQ: MBFI) announced today that it received the requisite approvals of its common stockholders for the Company’s pending merger with Fifth Third Bancorp (“Fifth Third”) at a special meeting of the Company’s stockholders held today. Detailed voting results will be provided in a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission within the next four business days.
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CHICAGO, Aug. 23, 2018 (GLOBE NEWSWIRE) -- MB Financial, Inc., (Nasdaq: MBFI) today announced it expects to release its third quarter 2018 earnings at approximately 6:00 a.m. Eastern Time on Tuesday, October 23, 2018. In light of the pending merger with Fifth Third Bancorp, the Company will not be hosting an earnings call.
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Following an internal review, JPMorgan (JPM - Free Report) intends to terminate nearly 100 employees in its Asset Management division. This was first reported by Wall Street Journal. Later on, the bank’s spokeswoman, Kristen Chambers confirmed the news. In an e-mail she said, “We routinely review our coverage model to ensure appropriate staffing levels across a variety of functions. Any reductions will be relatively small and will not affect our continued investment in client coverage and our business.
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The Finance sector turned out to be one of the best performers in the April-June quarter. Specifically, benefits from a stabilizing economy and improving interest-rate scenario have well positioned the banking industry. Also, lower commercial tax rates are likely to boost banks’ profitability further. In addition, relieving banks from some of the stringent requirements of the Dodd-Frank Act has made the companies optimistic of future earnings growth and raised investor sentiment as well.
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TORONTO, Aug. 20, 2018 (GLOBE NEWSWIRE) -- US Financial 15 Split Corp ("US Financial 15") declares its monthly distribution of $0.04016 for each Preferred share, or 5.25% annually based on the previous month end net asset value. Distributions are payable September 10, 2018 to shareholders on record as at August 31, 2018.
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Constant earnings growth captivates almost everyone, right from the top brass to research analysts. This is because earnings are a measure of the money a company is making. Notably, earnings are essentially revenues that the company generates after deducting the cost of production over a given period of time.
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Shares of Webster Financial (WBS - Free Report) climbed 2% after the company delivered a positive earnings surprise of 5.7% in second-quarter 2018. Adjusted earnings per share of 92 cents surpassed the Zacks Consensus Estimate of 87 cents.
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Signature Bank’s (SBNY - Free Report) second-quarter 2018 adjusted earnings per share of $2.82 surpassed the Zacks Consensus Estimate of $2.80. Also, it compares favorably with $2.21 earned in the prior-year quarter. Shares of Signature Bank lost 5% in full day trading session post its earnings release, reflecting investors’ concern over contracting net interest margin and decline in fee income.
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Riding on higher revenues, Citizens Financial Group (CFG - Free Report) delivered a positive earnings surprise of 2.3% in second-quarter 2018. Earnings per share of 88 cents topped the Zacks Consensus Estimate of 66 cents.
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2018-09-18 - Asif
Overview Rigel Pharmaceuticals is a biotechnology company dedicated to discovering, developing and providing novel small molecule drugs that significantly improve the lives of patients with immune and hematologic disorders, cancer and rare diseases. The company's pioneering research focuses on signaling pathways that are critical to disease mechanisms. The company's first FDA-approved product is TAVALISSE™ (fostamatinib disodium hexahydrate), an oral spleen tyrosine kinase (SYK) inhibitor, for the treatment of adult patients with chronic immune thrombocytopenia who have had an insufficient response to a previous treatment. The company's current clinical programs include Phase 2 studies of fostamatinib in autoimmune hemolytic anemia and IgA nephropathy, and a Phase 1 study for its IRAK program. In addition, Rigel Pharmaceuticals has product candidates in development with partners BerGenBio AS, Daiichi Sankyo, and Aclaris Therapeutics. Since inception, Rigel Pharmaceuticals h...
2018-09-18 - Asif
Overview The company design, develop and sell exoskeleton technology to augment human strength, endurance and mobility. The company's exoskeleton technology serves multiple markets and can be used both by able-bodied users as well as by persons with physical disabilities. Ekso Bionics has sold, rented or leased devices that (a) enable individuals with neurological conditions affecting gait (stroke and spinal cord injury) to rehabilitate and to walk again and (b) allow industrial workers to perform heavy duty work for extended periods. Today, its medical exoskeleton, Ekso GT, is used as a rehabilitation tool to allow physicians and therapists to rehabilitate patients who have suffered a stroke or spinal cord injury. With its unique features designed specifically for hospitals and its proprietary SmartAssist software, Ekso GT allows for the early mobilization of patients, with high step count and high dosage treatments. The intent is to allow the patient’s central nervous syst...
2018-09-18 - Asif
Overview Agile Therapeutics is a forward-thinking women’s healthcare company dedicated to fulfilling the unmet health needs of today’s women. Twirla® and its other current potential product candidates are designed to provide women with contraceptive options that offer greater convenience and facilitate compliance. The company's lead product candidate, Twirla, also known as AG200-15, is a once-weekly prescription contraceptive patch that is at the end of Phase 3 clinical development. Since its inception in 1997, Agile Therapeutics has devoted substantial resources to developing Twirla, building its intellectual property portfolio, business planning, raising capital and providing general and administrative support for these operations. The company incurred research and development expenses of $14.4 million, $20.9 million and $25.6 million during the years ended December 31, 2017, 2016 and 2015, respectively. The company incurred research and development expenses of $2.4 milli...
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