NEW YORK, September 15, 2017 /PRNewswire/ --
U.S. equity market was mixed on Thursday after The Labor
Department said the Consumer Price Index increased more than
expected in August. The Dow Jones Industrial average rose 0.21
percent, or 45.9 points, to 22,204.10 on Thursday and hit a new
all-time high during the trading session. The S&P 500 was down
from record high and closed 0.11 percent lower at 2,495.62. Nasdaq
composite Index underperformed, fell 0.48 percent to 6429.08.
Katie Stockton, Chief Technical
Strategist at BTIG, said in a note, reported by CNBC: "Short-term
momentum remains positive behind the SPX, supporting the rally off
of the August low. The breakout above July's peak makes the path of
least resistance higher, and it reflects healthy market breadth, or
participation." Oracle Corporation (NYSE: ORCL), Halozyme
Therapeutics, Inc. (NASDAQ: HALO), Nordstrom, Inc. (NYSE: JWN),
Aldeyra Therapeutics Inc. (NASDAQ: ALDX), Teva Pharmaceutical
Industries Ltd. (NYSE: TEVA)
According to The Labor Department, U.S. consumer prices rose 0.4
percent in August and increased 1.9 percent on a year-over-year
basis. Economists polled by Reuters has estimated the CPI to rise
0.3 percent in August. The better-than-expected inflation may
affect the Federal Reserve's decision on rate hike. The Fed has an
inflation target of 2 percent. Minh
Trang, senior FX trader at Silicon Valley Bank, said in a
CNBC report: "Overall, the inflation numbers have been below the
Fed's target of 2 percent. That's why you're seeing the market call
the Fed's bluff to an extent."
Oracle Corporation (NYSE: ORCL) announced fiscal 2018 Q1
results Thursday after market. Total Revenues increased 7% from the
prior year to $9.2 billion. Cloud
plus On-Premise Software Revenues were up 9% to $7.4 billion. Cloud Software as a Service (SaaS)
revenues were up 62% to $1.1 billion.
Cloud Platform as a Service (PaaS) plus Infrastructure as a Service
(IaaS) revenues were up 28% to $400
million. Total Cloud Revenues were up 51% to $1.5 billion. "The sustained hyper-growth in our
multi-billion dollar cloud business continues to drive Oracle's
overall revenue and earnings higher and higher," said Oracle CEO,
Safra Catz. "In Q1, total revenues
were up 7%, GAAP EPS was up 19%, and non-GAAP EPS was up 12%.
Oracle is off to a very, very strong start in FY18."
Halozyme Therapeutics, Inc. (NASDAQ: HALO) stock up more
than 18% on Thursday after the biotechnology company announced that
it has licensed its ENHANZE® drug-delivery technology to Roche for
exclusive development of an undisclosed therapeutic target. Under
the terms of the agreement it will receive an initial $30 million with the potential to earn additional
payments of up to $160 million
subject to achievement of specified development, regulatory and
sales-based milestones. Halozyme will also receive tiered,
mid-single digit royalties on sales of commercialized products.
Nordstrom, Inc. (NYSE: JWN) shares jumped about 7% after
CNBC announced Tuesday that the Nordstrom family is leaning toward
a partnership with private equity firm Leonard Green to assist its
bid to take the department store private. According to the report,
the Nordstrom family is hoping that as a private company,
it will be able to make investments that help it adapt to the
changing retail landscape without worrying about short-term
shareholder reaction.
Aldeyra Therapeutics Inc. (NASDAQ: ALDX) shares had
jumped 34 percent on Tuesday after the company announced
positive results from a Phase 2a clinical trial of its ADX-102
treatment in patients with dry eye disease. The stock has gained
another 34 percent on Thursday and doubled its value in
three days. The company said it expects to begin a phase 2b trial
in the first half of 2018. Todd C.
Brady, M.D., Ph.D., President and Chief Executive Officer of
Aldeyra, commented: "These data represent the fourth set of
positive Phase 2 results with ADX-102 in ocular inflammation. The
breadth of activity across noninfectious anterior uveitis, allergic
conjunctivitis, and now dry eye disease confirms the potential of
ADX-102 as an important and differentiated therapy in
ophthalmology."
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA)
announced on Monday it has entered into a definitive agreement
under which CooperSurgical will acquire PARAGARD, a product within
its global Women's Health business, in a $1.1 billion cash
transaction. PARAGARD had revenues of
approximately $168 million for the trailing twelve-month
period ending June 30, 2017. This transaction includes Teva's
manufacturing facility in Buffalo, NY, which produces
PARAGARD exclusively. Teva briefly broke above $20 Tuesday morning.
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