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Anadarko to Resume Takeover Talks With Occidental

Anadarko to Resume Takeover Talks With Occidental

Oil and gas production company Anadarko Petroleum (APC) said on Monday that it would like to resume negotiations with Occidental Petroleum (OXY), which has offered to take over the company, because it feels that the proposal could result in a superior one to that proposed by rival Chevron (CVX). Anadarko entered into a definitive merger agreement with Chevron on April […]

Asian ADRs Move Higher in Monday Trading

Asian ADRs Move Higher in Monday Trading

American depositary receipts of Asian stocks were trading 3.01% higher at 1,508.40 on the BNY Mellon Asia 50 ADR Index on Monday. In North Asia, the gainers were led by online game developer Changyou.com (CYOU) and internet services company Sohu.com (SOHU), which surged 22.5% and 16.3% respectively. They were followed by search engine Sogou (SOGO) and used car ecommerce platform […]

LogicBio Therapeutics Granted FDA Orphan Drug Designation for LB-001 to Treat Methylmalonic Acidemia

LogicBio Therapeutics Granted FDA Orphan Drug Designation for LB-001 to Treat Methylmalonic Acidemia

LogicBio Therapeutics, Inc. (LOGC), a genome editing company, reported that the US Food and Drug Administration (FDA) has granted orphan drug designation to LB-001, a recombinant adeno-associated viral vector with human methylmalonyl-COA mutase (MUT) gene for the treatment of methylmalonic acidemia (MMA). “We believe that LB-001 has potential to transform the treatment of this devastating disease,” said Chief Executive Fred […]

Insperity Q1 Tops Street on EPS, Falls Short on Revenue

Insperity Q1 Tops Street on EPS, Falls Short on Revenue

Insperity (NSP), a human resources and business services provider, reported Q1 adjusted earnings of $1.98 a share, up from $1.41 in the same period a year ago and exceeding the estimate of $1.88 from Wall Street analysts polled by Capital IQ. Total revenue of $1.15 billion was up from $1.01 billion in the same period a year ago and missed […]

Durable-Goods Orders Rise 2.7% in March, Led Higher by Transportation Equipment

Durable-Goods Orders Rise 2.7% in March, Led Higher by Transportation Equipment

Orders for durable goods rose 2.7% in March, sailing past expectations and the previous month’s revised decline of 1.1%, the Commerce Department said Thursday. March’s orders were bolstered by a 7% jump in transportation equipment. Excluding transportation, new orders rose 0.4% last month. Econoday had predicted a 0.7% advance for new orders and a 0.2% gain excluding transportation. “The guts […]

S&P 500’s Q1 Results So Far Show More EPS Beats Than Revenue Beats

S&P 500’s Q1 Results So Far Show More EPS Beats Than Revenue Beats

The Standard & Poor’s 500 index has seen higher-than-expected Q1 earnings per share from 58 of the 77 companies that have released full operating comparative quarterly data as of Friday, according to a report from Howard Silverblatt, senior index analyst at S&P Dow Jones Indices. While that amounts to an EPS beat rate of 75% so far, there haven’t been […]

Crude Spikes as White House Ends Sanctions Waivers on Iran Oil

Crude Spikes as White House Ends Sanctions Waivers on Iran Oil

Crude oil futures prices surged higher on Monday as the White House said it would end sanctions waivers on Iran’s oil exports in a bid to bring the shipments to zero, while saying global markets would “remain adequately supplied.” West Texas Intermediate, the US benchmark, jumped 2.7% to $65.70 a barrel in morning trade, the highest since late October, while […]