European Equity Benchmarks Close Lower

European Equity Benchmarks Close Lower

The broad-based major European indices closed lower in Friday’s trading session, as financial stocks and mining companies weighed on the markets. In economic news, Eurostat, the statistical office of the European Union, reported that for the euro area, (EA19) exports of goods to the rest of the world in July was EUR177.7 billion ($212.47 billion), an increase of 6.1% compared with July 2016 (EUR167.6 billion). Imports from the rest of […]

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Synopsys Plans Repatriation Up To $850 Mln Of Offshore Cash

Synopsys Plans Repatriation Up To $850 Mln Of Offshore Cash

Synopsys (SNPS), in the electronic design automation sector, reported Monday it plans to repatriate $775 million to $850 million of cash held offshore in Q4, and will take one-time charges as a result. Synopsys said non-GAAP expected earnings are not affected. On GAAP earnings, the company said it now expects a Q4 loss of $0.71 to $0.91 a share, compared with the previous estimate of a gain of $0.26 to […]

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Gulf Island Fabrication Wins Contract

Gulf Island Fabrication Wins Contract

Gulf Island Fabrication said its Gulf Island Shipyards unit won a contract from Oregon State University to build a regional class research vessel with an option for two additional vessels. Gulf Island said the first vessel will be built in Houma, Louisiana and will be delivered to the university in Q4 2020. Financial terms weren’t disclosed but the company said revenue and man-hour backlog related to the award will be […]

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Williams Partners Expands Natural Gas Pipeline Capacity

Williams Partners Expands Natural Gas Pipeline Capacity

Williams Partners, a natural gas pipeline partnership, Tuesday reported it has placed into service the first phase of its Hillabee expansion project, expanding the capacity of its Transco pipeline system in Alabama by 818,410 dekatherms per day to supply Florida power generators through the new Sabal Trail pipeline. Williams Partners said the Hillabee expansion project will add a total of approximately 1,13 million dekatherms per day of pipeline capacity to […]

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Paychex Fiscal Q4 Results Top Street Expectations

Paychex Fiscal Q4 Results Top Street Expectations

Paychex, a provider of payroll products, reported Wednesday fiscal Q4 adjusted net income of $0.54 per share, up from $0.49 per share in the prior year period and a penny higher than the Street estimate provided by Capital IQ. Revenues for the quarter ended May 31 were $798.6 million, up from $753.9 million reported for the same period last year and were higher than the $797.7 million Street estimate. For […]

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Reata Pharmaceuticals Receives Orphan Drug Status for Omaveloxolone

Reata Pharmaceuticals Receives Orphan Drug Status for Omaveloxolone

Reata Pharmaceuticals, a clinical-stage biopharmaceutical company, said Thursday the U.S. Food and Drug Administration has granted Orphan Drug Designation to omaveloxolone to treat Friedreich’s ataxia (FA). FA is an inherited, debilitating, and degenerative neuromuscular disorder that is typically diagnosed during adolescence and can ultimately lead to early death. Patients with FA experience progressive loss of coordination, muscle weakness, and fatigue, which commonly progresses to motor incapacitation and wheelchair reliance. There […]

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Merck Subsidiary Enters Into Collaboration with SerImmune

Merck Subsidiary Enters Into Collaboration with SerImmune

Shares of Merck & Co. were up almost 2% Tuesday after SerImmune said it entered into a research and development collaboration agreement with a Merck subsidiary. Under terms of the agreement SerImmune, which develops diagnostics and therapeutics for autoimmune diseases, will apply its immune repertoire characterization platform to clinical and preclinical specimens provided by Merck. Merck will lead preclinical and clinical development and commercialization of candidates identified from the collaboration. […]

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