European Equity Benchmarks Close Mostly Higher

European Equity Benchmarks Close Mostly Higher

The broad-based major European indices closed mostly higher in Tuesday’s trading session, as banks, automakers, and mining stocks buoyed the markets. In economic news, the eurozone economy continued to expand at a “robust pace” to start 2017, according to the The Martkit Eurozone Purchasing Managers’ Index (PMI) survey, which showed employment rising at its fastest rate since 2008. The Martkit Eurozone PMI registered 54.3 in January, according to the preliminary […]

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Slim Declines for Consumer Stocks

Slim Declines for Consumer Stocks

Consumer stocks were narrowly lower this afternoon, with shares of consumer staples companies in the S&P 500 slipping about 0.2% while shares of consumer discretionary firms in the S&P 500 were posting a 0.1% retreat. In company news, shares of Chinese online operator 500.Com Ltd (WBAI) fell Monday after overnight saying Man San Law stepped down on Friday as board chairman and was replaced by Lian Qi. Qi is co-president […]

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IBM Edges Up to 18-Month High

IBM Edges Up to 18-Month High

International Business Machines shares edged up to a new 18-month high Friday morning after the technology company reported late Thursday Q4 results that topped analyst estimates. The company’s operating non-GAAP income was $5.01 a share, topping the average of estimates on Capital IQ for $4.88 and the year earlier $4.84 a share. Revenue from continuing operations of $21.8 billion, just ahead of the Street’s view for $21.6 billion although that […]

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Union Pacific Tops Q4 Estimates

Union Pacific Tops Q4 Estimates

Union Pacific gained more than 3% in pre-bell trade Thursday after handily beating Q4 estimates. The company reported Q4 earnings of $1.39 per diluted share compared to $1.31 last year. This was ahead of the $1.33 Capital IQ estimate. Revenues for the quarter came in at $5.17 billion, versus $5.21 billion in the same period last year. This beat the $5.13 billion Capital IQ consensus. “Looking to 2017, we are […]

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Novan Licenses Acne Treatment to Japan’s Sato Pharmaceuticals

Novan Licenses Acne Treatment to Japan’s Sato Pharmaceuticals

Novan said Tuesday it has agreed to license its SB2014 and related dosage forms for the treatment of acne vulgaris to Japan’s Sato Pharmaceutical for JPY1.25 billion ($11 million). Under the terms, Sato gets the exclusive rights to develop and commercialize SB204 in Japan. Novan will also receive from Sato certain development and commercialization milestone payments and, subject to product approval by Japan’s Ministry of Health, Labor and Welfare, certain […]

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