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Merchants Bancorp Launches IPO

Merchants Bancorp Launches IPO

October 19, 2017 at 6:05 pm 0 comments

Merchants Bancorp (MBIN), a diversified bank holding company headquartered in Carmel, Indiana, said on Monday it has launched its initial public offering of shares of its common stock. Merchants said in a statement it aims to sell 5.6 million shares and expects to grant the underwriters a 30-day option to buy up to an additional 0.8 million shares. The IPORead More

First Republic Bank Price Target Cut to $92 From $96 at BMO Capital

First Republic Bank Price Target Cut to $92 From $96 at BMO Capital

October 19, 2017 at 6:01 pm 0 comments

First Republic Bank (FRC), a commercial bank and trust company, had its price target cut at BMO Capital to $92 from $96. The San Franciso, Calif.-based company’s Q3 results were slightly above BMO’s forecast, “but quality was low”, BMO analyst Lana Chan said in a research note to investors on Friday. Chan said on the positive side, client activity remainsRead More

Sonus Networks Preliminary Q3 Sales

Sonus Networks Preliminary Q3 Sales

October 17, 2017 at 5:43 pm 0 comments

Sonus Networks (SONS) shares were halted on Friday after the company said preliminary results show total revenue is expected to be $74.5 million in Q3, compared with the company’s previous guidance range of $70 million to $72 million and an average analyst estimate of $70.8 million from Capital IQ. SONS shares are set to resume trading at 8 am ET.Read More

Alcoa Terminates Rockland Smelter Power Contract For $237.5 Mln Lump Sum

Alcoa Terminates Rockland Smelter Power Contract For $237.5 Mln Lump Sum

October 17, 2017 at 5:41 pm 0 comments

Alcoa (AA) shares were higher 2% in recent pre-market trade after the industrial product manufacturer terminated a contract with power provider Luminant Generation for its Rockdale operations in Texas. The smelter at Rockdale has been fully curtailed since the end of 2008. Alcoa said that while it sold surplus electricity since the smelter’s curtailment, the cost of power under theRead More

SteadyMed Gets Notice of Allowance in Europe for Patent Application Relating to Enhanced Reduction of Infusion-Site Pain

SteadyMed Gets Notice of Allowance in Europe for Patent Application Relating to Enhanced Reduction of Infusion-Site Pain

October 16, 2017 at 7:02 pm 0 comments

SteadyMed (STDY), a specialty pharmaceutical company, said Thursday it has received a notice of allowance from the European Patent Office for a patent application related to enhanced infusion-site pain reduction for drug delivery devices. “Currently, infusion-site pain is a common patient complaint when certain therapeutic drugs are delivered subcutaneously,” said CEO Jonathan Rigby. “The patent application relates to the deliveryRead More

Steel Partners to Acquire Remaining Shares of Handy & Harman

Steel Partners to Acquire Remaining Shares of Handy & Harman

October 16, 2017 at 7:01 pm 0 comments

Steel Partners Holdings (SPLP), a diversified global holding company, said Thursday it has “successfully” completed its exchange offer to acquire the remaining shares of Handy & Harman (HNH), a diversified global industrial company, it does not own. The offer expired at 12:00 midnight, New York City time, at the end of Oct. 11. As of the expiration, 2.4 million sharesRead More

Kadmon Shares Jump 13% Pre-Bell as FDA Grants Orphan Designation For Graft-vs-Host Disease Treatmen

Kadmon Shares Jump 13% Pre-Bell as FDA Grants Orphan Designation For Graft-vs-Host Disease Treatmen

October 11, 2017 at 12:37 am 0 comments

Kadmon Holdings (KDMN) shares advanced 13% pre-market trade after the company said the U.S. Food and Drug Administration has granted orphan drug designation to its KD025 for the treatment of chronic graft-versus-host disease (cGVHD), a serious complication following allogeneic bone marrow or stem cell transplantation. KD025 is being studied in an ongoing phase 2 clinical trial in adults with steroid-dependentRead More