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Will This News Move These Stocks Today?

stock market 012714 09jul18

Buyback

Anadarko Petroleum Corp. (APC) is boosting its share-buyback by $1 billion, and debt-reduction program by $500 million, raising its total spend on the equity and debt buyback programs to $5.5 billion. The buyback authorization extends through the end of June, 2019.

Asset Acquisition

Clinical-stage oncology drug developer MabVax Therapeutics Holdings, Inc. (MBVX), said family-owned pharma company Boehringer Ingelheim has acquired all rights in and to its program targeting a glycan commonly over-expressed on multiple solid tumor cancers. In return, MabVax will receive US $11 million in upfront and near-term milestones as well as downstream regulatory milestone payments, plus further earn-out payments. MabVax added that this asset acquisition is separate and distinct from its other programs under development.

Potential catalyst

The FDA is scheduled to make an approval decision in July or August on Elagolix, a drug for treating endometriosis-associated pain. Elagolix was originally developed by Neurocrine Biosciences (NBIX), which licensed the drug to AbbVie seven years ago. An approval would mean milestone payments and sales royalties to Neurocrine Biosciences, which currently has just one approved drug on the market.

Investment

Online luxury fashion retailer Secoo Holding Ltd. (SECO) to receive a $175 million investment from Private equity firm L Catterton Asia, and Chinese retailer JD.com, Inc. (JD).

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Business News

Editors Pick
Royal Caribbean Group's ultra-luxury brand Silversea Cruises is set to launch the world's first hybrid-powered cruise ship in the summer of 2023. This will also be the first ship with large-scale fuel cell technology to enable emission-free port operations. The fuel cells will provide 100% of power while at port. Affco USA is recalling around 24,461 pounds of frozen raw lamb shoulder products that were not presented for import re-inspection into the U.S., the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS announced. The recall involves the frozen raw lamb shoulder items that were imported on July 12, 2021. American Express Company (AXP) reported an increase in profit for the third quarter that also topped Wall Street estimates. Consolidated total revenues net of interest expense rose 25 percent year-on-year, primarily reflecting growth in Card Member spending, as well as a rise in the average discount...
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