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Will This News Move These Stocks Today?

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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
Walmart Inc. (WMT) reported adjusted EPS of $1.41 for the fourth-quarter of fiscal 2019. On average, 27 analysts polled by Thomson Reuters expected the company to report profit per share of $1.33 for the quarter. Analysts' estimates typically exclude special items. Net income attributable to Walmart... Anglo-Australian miner BHP, formerly known as BHP Billiton, reported Tuesday higher attributable profit in its first half, while revenues were flat. Underlying EBITDA margin was lower. Further, the company maintained its dividend. Looking ahead, the company said its productivity for the 2019 financial year is now expected to be broadly flat. Asia-focused lender HSBC Holdings Plc reported Tuesday higher profit in its fiscal 2018 reflecting revenue growth in all of global businesses, despite a challenging fourth quarter. Further, the company said it reported a good start to 2019, noting that Group revenue performance in January was ahead of plan for the month. In London, HSBC shares were losing around 4 percent in the morning trading.
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