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Home Sales Still Strong Year-Over-Year

Home Sales Still Strong Year-Over-Year

May 23, 2017 at 3:23 pm 0 comments

Even with the monthly decline in home purchases, sales are still up “solidly” year-over-year and home builders are reporting strong demand, Wells Fargo said. Builders have shrunk their businesses to fit the modest sales pace and they’re seeing all the business they can handle for now, the bank said. Bank of Tokyo/Mistu analyst Chris Rupkey said the housing data isRead More

ConocoPhillips Trims Q2 Production Guidance

ConocoPhillips Trims Q2 Production Guidance

May 18, 2017 at 11:42 am 0 comments

ConocoPhillips said early Thursday it lowered its Q2 production guidance to 1.37 million from 1.41 million barrels of oil equivalent per day, reflecting the partial-quarter impact of the previously announced sale of its 50% non-operated interest in the Foster Creek Christina Lake (FCCL) oil sands partnership, as well as the majority of its western Canada Deep Basin gas assets, toRead More

Akebia Therapeutics Shares Rise

Akebia Therapeutics Shares Rise

May 16, 2017 at 12:21 pm 0 comments

Shares of Akebia Therapeutics rallied to their highest level since October 2014 after the biopharmaceutical company said it has entered into an exclusive license agreement to sell vadadustat to Fresenius Medical Care (FMS) dialysis clinics in the United States upon approval by the U.S. Food and Drug Administration. AKBA was up 20% at $15.44 recently, trading in a new 52-weekRead More

CDK Global Starts Accelerated Share Repurchase

CDK Global Starts Accelerated Share Repurchase

May 15, 2017 at 3:18 pm 0 comments

CDK Global said pre-market Monday that it started an accelerated share buyback (ASR) agreement with Bank of America (BAC) to buy $350 million of CDK shares. Under the terms of the ASR agreement, CDK will make a $350 million payment to Bank of America Merrill Lynch on May 16, and will receive on the same day an initial delivery ofRead More

Starboard Takes Stake in Parexel International

Starboard Takes Stake in Parexel International

May 11, 2017 at 11:37 am 0 comments

Starboard Value LP said in a filing with the Securities and Exchange Commission that it has acquired a 5.7% stake in Parexel International (PRXL). Starboard said it believes that there is “substantial opportunity to improve [Parexel’s ] operating margins” given the large disparity in the company’s margins versus its best-in class peers. Starboard also said that if Parexel runs aRead More

CBOE Holdings Beats Q1 EPS and Sales Estimates

CBOE Holdings Beats Q1 EPS and Sales Estimates

May 9, 2017 at 1:03 pm 0 comments

CBOE Holdings reported pre-market Tuesday Q1 non-GAAP EPS of $0.78, beating the Capital IQ consensus estimate of $0.68 per share, and up from $0.61 per share a year ago. On a GAAP basis, the company earned $0.16 per share, down from $0.60 per share for the same quarter last year. Total revenue increased to $265.3 million from $255.2 million lastRead More

Bond Prices Lower

Bond Prices Lower

May 8, 2017 at 4:16 pm 0 comments

U.S. Treasury prices dropped Monday with Treasury set to auction $62 billion new notes through the week while the as-expected results from the French elections drained safe-haven bids as the market lost some “buy the rumor, sell the fact” support. Participants noted there was a floor under prices as the market went after and failed to take out significant technicalRead More