Company Overview and News
For a second consecutive week, 3M Company (NYSE: MMM) is once again the Dow’s cellar dweller. The industrial giant’s stock added more than 4% last week but even that was not enough to climb out of the basement. 3M shares are now trading down 8.1% for the year to date.
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UNITED TECHNOLOGIES CORP. has U.S. Defense Logistics Agency contract worth up to $2.46b to supply Air Force depot-level repairables, consumable parts. NORTHROP GRUMMAN conducted first ground test of 63-in.-dia. Graphite Epoxy Motor (GEM 63) developed for UNITED LAUNCH ALLIANCE Atlas V rocket Sept. 20 in Promontory, UT. RAYTHEON/LOCKHEED MARTIN JAVELIN JV has $27.6m U.S. Army foreign military sales contract for Javelin weapons system full-rate production for Australia, Estonia, Lithuania, .
Atlantic Power Corporation (AT - Free Report) recently announced that it has entered into an agreement with EDF Renewables Inc. to acquire two biomass plants in South Carolina for $13 million. The two plants are the Allendale plant and the Dorchester plant, located in Allendale and Harleyville, South Carolina, respectively. The plants have a total capacity of 20 megawatts (MW) each. The company expects to close the deal in the second half of 2019 and the acquisition will be funded by the company’s discretionary cash.
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Valmont Industries, Inc. (VMI - Free Report) has launched Valmont Coatings Connector, a first-to-market customer communication solution that provides industrial coatings customers with real-time visibility of their products from any device at any place along with the ability to schedule deliveries and product pick-ups. Notably, Valmont Coatings Connector meets customers’ demand for current information by sending notifications via text and/or email regarding movement of products through each step of the coating process.
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McDonald's Corporation (MCD - Free Report) declared a 15% hike in its quarterly dividend to $1.16 from $1.01 a share. The dividend will be paid on Dec 17, 2018, to shareholders on record as of Dec 3, 2018. Total fourth-quarter dividend payout is estimated to amount to $900 million. Notably, the company has a history of increasing dividend almost every year since the inception of its dividend payout policy in 1976.
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Shares of Galectin Therapeutics, Inc. (GALT - Free Report) rallied 14.5% following the company’s release of positive preliminary results from a cohort 3 of a phase Ib study on its pipeline candidate GR-MD-02 in combination with Merck’s (MRK - Free Report) Keytruda. The candidate is currently being evaluated for the treatment of metastatic melanoma in patients whose disease progressed during or after receiving Keytruda as a monotherapy.
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Northrop Grumman Corp.’s (NOC - Free Report) recently secured an order related to operational requirements for logistics support services with regard to the government-owned fixed-wing fleet performing special electronic missions. Valued at $75 million, the contract was awarded by U.S. Army Contracting Command, Redstone Arsenal, Alabama. The company will execute the work in Herndon, VA, and expects to complete services by February 2027.
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Intuitive Surgical, Inc. (ISRG - Free Report) is currently one of the top-performing stocks in the MedTech space. An impressive outlook for 2018 and strength in its flagship da Vinci system favor the stock.
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Sempra Energy (SRE - Free Report) recently announced that it has inked a definitive agreement with Consolidated Edison, Inc. (ED - Free Report) , to divest its U.S.-based renewable portfolio for a total cash of $1.54 billion. The deal includes Sempra Energy’s non-utility operating solar assets, solar and battery storage development projects and one wind facility. However, the deal remains subject to adjustments for working capital and pre-closing cash contributions.
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Medtronic (MDT - Free Report) has taken its existing relationship with Mazor Robotics to the next level. In a bid to grow further in the field of robotics spine surgery, Medtronic decided to acquire the Israel-based robotic surgical guidance systems company for $1.64 billion in cash.
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Americans are increasingly comfortable about their well-being as the nine-year economic expansion continues to go strong for a solid performance in the second half of 2018. Current credit spreads are also at historic lows, which paint a rosier economic picture.
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Synaptics (SYNA - Free Report) earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, delivering an average positive earnings surprise of 4.7%. With expected long-term earnings per share growth rate of 10% and a market cap of $1.63 billion, it seems to be a stock that investors should keep in their portfolio for now. Let’s take a look at the factors that have been influencing the company’s performance.
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Comcast (CMCSA - Free Report) and 21st Century Fox (FOXA - Free Report) will now participate in a three-round auction, run by the British regulators, to settle the ownership of European Pay-TV giant, Sky Plc. Notably, Fox already owns a 39% stake in Sky. The fight for the remaining 61% stake has seen much drama over the last 21 months. In December, 2016, Fox offered to buy the stake for $13.41 (£10.
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In a bid to bolster presence in the global cloud market, Adobe Systems Incorporated (ADBE - Free Report) has signed a definitive agreement to acquire Marketo from Vista Equity Partners Management for $4.75 billion. San Mateo, CA-based Marketo is a provider of marketing tools via its cloud based business-to-business (B2B) engagement platform which help the companies add new customers and drive business growth.
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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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