Market Focus

HP Upgraded by RBC

HP Upgraded by RBC

July 20, 2017 at 3:50 pm 0 comments

HP received an investment-rating upgrade Thursday to outperform from sector perform from RBC Capital Markets, which also raised its price target on the shares of the provider of personal computers and other devices and technologies “to reflect improved PC/print end-market fundamentals and share gains.” The new price target from RBC is $22 per share, up from $21. The shares closedRead More

Valeant Pharma Agrees to Divest Obagi Medical Products Business

Valeant Pharma Agrees to Divest Obagi Medical Products Business

July 17, 2017 at 4:45 pm 0 comments

Shares of Valeant Pharmaceuticals International (VRX) were barely higher pre-market Monday after the Canada-based drug maker said it agreed to sell its Obagi Medical Products business to Haitong International Zhonghua Finance Acquisiiton Fund I for $190 million in cash. The fund counts China Regenerative Medicine International as one of its limited partners. Valeant said it will use the proceeds fromRead More

Applied DNA Sciences To Provide Certification Services For GHCL Products

Applied DNA Sciences To Provide Certification Services For GHCL Products

July 11, 2017 at 4:18 pm 0 comments

Applied DNA Sciences Tuesday reported a multi-year license agreement with GHCL, an India-based manufacturer of home textiles, to provide “CertainT” platform services in connection with source-verified, polyethylene terephthalate (PET) and recycled PET in home textile products. No terms disclosed. PET is the clear plastic most commonly seen in water bottles, but which can be made into other products, such asRead More

Asian ADRs Slip Lower

Asian ADRs Slip Lower

July 7, 2017 at 3:14 pm 0 comments

American depository receipts of Asian stocks were trading 0.13% lower at 158.89 on the Bank of New York Mellon Asia ADR Index on Friday. In North Asia, the gainers were led by biopharmaceutical company Beigene (BGNE), and aluminum producer Aluminum Corporation of China (ACH), which rose 4.3% and 3.3% respectively. They were followed by Baozun (BZUN), a brand e-commerce solutionsRead More

Belden Reports Final Results of Tender for Notes Due 2022

Belden Reports Final Results of Tender for Notes Due 2022

July 6, 2017 at 4:12 pm 0 comments

Belden Inc reported Thursday morning the final results of its previously announced offer to purchase any and all of its outstanding 5.5% senior subordinated notes due 2022. The tender offer expired at 5:00 p.m. ET on July 5. Belden says it received tenders from holders of $581.1 million aggregate principal amount, representing approximately 83.02% of the aggregate principal outstanding ofRead More

U.S. Dollar Rallies

U.S. Dollar Rallies

July 3, 2017 at 3:25 pm 0 comments

The dollar rallied following the June manufacturing ISM and May construction spending figures, where the former handily beat expectations, and the latter missed the mark, and the previous month was revised higher. EUR/USD fell to 1.1360 from over 1.1370 as USD/JPY topped at 113.27, up from under 113.05. Wall Street is on session highs, while yields edged higher. Cable hasRead More

Glu Partners With WWE

Glu Partners With WWE

June 20, 2017 at 7:07 pm 0 comments

Glu Mobile, a developer and publisher of free-to-play mobile games, said pre-market Tuesday it has struck a multi-year agreement with World Wrestling Entertainment (WWE) to develop a mobile game featuring WWE Superstars, logos and marks. Glu said its WWE title will include simple, one-touch gameplay mechanics with deep meta game features. The project will use the names and likenesses ofRead More