Vornado Realty Trust Extends Maturity of $1.25 Bln

Vornado Realty Trust Extends Maturity of $1.25 Bln

Vornado Realty Trust (VNO) said late Tuesday it extended the maturity of one of its two $1.25 billion unsecured revolving credit facilities from November 2018 to January 2022, with two 6-month extension options. The interest rate on the extended credit line was cut from LIBOR plus 105 basis points to LIBOR plus 100 basis points, according to a statement. The facility fee remains at 20 basis points. The interest rate […]

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CGG Wins Restructuring Plan Approval from Long-Standing Shareholders

CGG Wins Restructuring Plan Approval from Long-Standing Shareholders

CGG (CGG) said it has won support from long-standing shareholder Bpifrance for its restructuring plan. Bpifrance, through Bpifrance Participations, is a shareholder of CGG and holds 9.4% of its capital and 10.8% of its voting rights. DNCA, holding approximately 7.9% of CGG’s capital and 7.7% of its voting rights, 5.5% of the aggregate nominal amount of CGG’s senior notes and 20.7% of the aggregate nominal amount of CGG’s convertible bonds, […]

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Pzena Investment Management Posts Q3 EPS

Pzena Investment Management Posts Q3 EPS

Pzena Investment Management Inc (PZN) reported late Tuesday financial results for Q3, with earnings and revenue that exceeded single analyst estimates. The investment management company posted non-GAAP earnings of $0.17 per share, compared with the prior-year period’s $0.12 per share. One analyst on Capital IQ was expecting EPS of $0.15. Revenue was $36.2 million, up 34.2% from $27 million in the same quarter last year. The single analyst estimate was […]

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Pfizer Trial of Lung Cancer Treatment Lorlatinib Seen as ‘Clinically Meaningful’

Pfizer Trial of Lung Cancer Treatment Lorlatinib Seen as ‘Clinically Meaningful’

Pfizer (PFE) said on Monday that a Phase 2 clinical trial for lorlatinib, a treatment for lung cancer patients and secondary malignant tumors on the brain, indicated meaningful activity. The drugmaker said the study examined the activity and safety of lorlatinib in 275 patients with or without asymptomatic, untreated or treated brain metastases. A metastatic growth is secondary malignant growth at a distance from a primary site of cancer. “Controlling […]

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Saudi Stocks Advance on Higher Oil Prices, Stronger Banks

Saudi Stocks Advance on Higher Oil Prices, Stronger Banks

MidEast shares were mixed, with Saudi Arabia rising on the back of higher oil prices on signs of less tension between Baghdad and Iraqi Kurdistan. Banks also lent support after Alinma Bank said Q3 net profits rose to 542 million riyals ($145 million) from 312 million riyals a year ago and above the average analyst forecast for 493 million riyals. However, weaker Egyptian banks pressured that country’s main index. Investors […]

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Gilts Erase Earlier Losses

Gilts Erase Earlier Losses

Gilts erased earlier losses, and the 10-year cash yield is now down 2.7 basis points on the day. Bund yields declined similarly, and Italian and Spanish bond markets are outperforming, as Eurozone political risks are being discounted. The Austrian election may have produced a shift to the right, but the anti-European Union Freedom Party of Austria will only be a junior coalition partner if anything. Meanwhile, Barcelona and Madrid as […]

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GoC Yields Tip Back Towards Session Lows

GoC Yields Tip Back Towards Session Lows

GoC yields tipped back towards session lows alongside Treasuries, as risk assets were further underpinned following news U.S. President Donald Trump plans to decertify the Iran nuclear pact. Treasury yields had plunged early in the session on the tame core consumer price index print, with GoCs following suit. The S&P/TSX continues to outperform Wall Street thanks to firmer crude oil prices, up 0.5% compared to 0.2% gains for the Dow […]

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Net Element Shares Surge 45% After Reporting Strong Growth in Its North America Unified Payments Ops

Net Element Shares Surge 45% After Reporting Strong Growth in Its North America Unified Payments Ops

Net Element (NETE) shares surged 45% Friday after the provider of solutions for electronic payments acceptance across point of sale, e-commerce and mobile devices reported strong growth in its North America Unified Payments division. Total e-commerce volumes in H1 increased by 33% from a year ago and transactions processed increased by 34%. New e-commerce merchants in H1 increased by 37%.. Total volumes for electronic commerce and value-added integrated services such […]

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Goldman Reportedly Is Looking Into Options for Its Less Than $1 Mln Stake in Harvey Weinstein’s Film Studio

Goldman Reportedly Is Looking Into Options for Its Less Than $1 Mln Stake in Harvey Weinstein’s Film Studio

Goldman Sachs (GS) is weighing its options for its less-than $1 million stake in Weinstein and Co., Harvey Weinstein’s film studio that it co-founded with his brother Bob, Bloomberg reported, citing the Wall Street bank’s spokesman Andrew Williams. Harvey Weinstein was sacked from the studio after allegations that he had sexually harassed and assaulted women over decades, according to recent news reports. Goldman was an initial investor in the studio […]

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Forum Energy Cuts Q3 Outlook Due to Harvey Impact

Forum Energy Cuts Q3 Outlook Due to Harvey Impact

Forum Energy Technologies (FET) said Thursday that its Q3 financial results were adversely impacted by Hurricane Harvey’s widespread damage in Texas and Louisiana, and now expects revenues of approximately $200 million and adjusted net loss of $0.10 per share for the quarter. The company previously issued net loss guidance of $0.07 to $0.04 loss per share, on sequential revenue growth of 8% to 12%. Analysts polled by Capital IQ have […]

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Micron Technology Prices Upsized Offering of 29.3 Mln Shares at 1.5% Discount

Micron Technology Prices Upsized Offering of 29.3 Mln Shares at 1.5% Discount

Micron Technology (MU) said late Wednesday it has priced the sale of 29.3 million shares in a public offering at $41 each, a 1.5% discount to the closing price. The offering was upsized to $1.2 billion from previously $1 billion. Micron also granted the underwriter an option to buy an additional 4.4 million shares. The company said it plans to use approximately $476 million of the net proceeds to redeem […]

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DXC Technology to Combine US Public Sector Ops With Vencore

DXC Technology to Combine US Public Sector Ops With Vencore

DXC Technology (DXC) said late Thursday it plans to combine its US Public Sector business with Vencore Holding Corporation and KeyPoint Government Solutions to form a separate, independently publicly traded company that will serve US public sector clients. Under the agreement, DXC shareholders will own approximately 86% of the new company and private equity firm Veritas Capital and its affiliates, which own Vencore and KeyPoint, will own 14% and will […]

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Protagonist Therapeutics Prices Offering of 3.5 Mln Shares at 14.2% Discount

Protagonist Therapeutics Prices Offering of 3.5 Mln Shares at 14.2% Discount

Protagonist Therapeutics (PTGX) said late Wednesday it has priced the public offering of more than 3.5 million shares at $17 each, a 14.2% discount to the closing price. The company has also granted underwriters a 30-day option to buy an additional 529,500 shares. Gross proceeds are expected to be $60 million and Protagonist said it plans to use net proceeds to fund clinical research and development of the company’s three […]

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Equities Futures Near Flat After Another Record

Equities Futures Near Flat After Another Record

US equities futures were hovering around unchanged early Thursday after the benchmark indices touched new records Wednesday. Overseas, investors are watching Spain and the fallout from Catalonia’s independence vote. Minutes from the last European Central Bank meeting are released Thursday. The US dollar was off against the euro, the Japanese yen and the Canadian dollar but higher against the pound sterling. – The S&P 500 future was down 0.09% recently, […]

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Organovo Holdings Preliminary Fiscal Q2 Sales Slip From Year Ago & Lag Forecast

Organovo Holdings Preliminary Fiscal Q2 Sales Slip From Year Ago & Lag Forecast

Organovo Holdings (ONVO) reported late Wednesday preliminary fiscal Q2 total revenue is expected to be between $1.3 million and $1.4 million. At the midpoint, this result reflects a 2% decrease from a year ago and a 36% surge sequentially. The average analyst forecast for the sales is $1.46 million. Shares gained 1.5% in after-hours trading. The company said in a statement it sees a strong possibility of one or more […]

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MutualFirst Financial and Universal Bancorp Sign Merger Deal to Expand Footprint in Central & Southern Indiana

MutualFirst Financial and Universal Bancorp Sign Merger Deal to Expand Footprint in Central & Southern Indiana

MutualFirst Financial (MFSF) and Universal Bancorp said late Wednesday they signed an agreement pursuant to which Universal will be merged into MutualFirst, with MutualFirst being the surviving entity. The cash and stock transaction is valued at about $65.6 million. After the close, BloomBank, a wholly owned subsidiary of Universal, will merge into MutualFirst’s wholly owned bank subsidiary, MutualBank, according to a statement. The merger is expected to be accretive to […]

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