On Thursday, Shares of General Electric Company (NYSE:GE), lost -0.27% to $25.79.
General Electric Company declared a contract to sell GE Capital Bank’s U.S. online deposit platform together with all deposits of GE Capital Bank, counting online savings accounts, online CDs and brokered CDs, to Goldman Sachs Bank USA (“GS Bank”). Under this agreement about $16 billion of deposits will be transferred to GS Bank. The sale relates only to the deposit platform and deposits of GE Capital Bank.
The transaction is subject to regulatory approval and comprises administration, employees, software, and technology used to operate the platform. Scott Roberts, president of GE Capital Bank, is predictable to join GS Bank to oversee the platform.
GE Capital Bank is a Utah-chartered industrial bank. GE anticipates to wind down the remaining operations of GE Capital Bank following closing of the transaction, subject to regulatory approval.
General Electric Company (GE) operates as an infrastructure and financial services company worldwide. The company’s Power and Water segment offers gas, steam and aeroderivative turbines, nuclear reactors, generators, combined cycle systems, controls, and related services; wind turbines; and water treatment services and equipment.
Shares of CEMEX, S.A.B. de C.V. (NYSE:CX), declined -1.11% to $7.99, during its last trading session.
CEMEX declared that it has signed a contract for the sale of its operations in Croatia, counting its assets in Bosnia & Herzegovina, Montenegro and Serbia, to Duna-Dráva Cement for about €230.9 million.
The assets being sold mainly comprise of 3 cement plants (about 1.66 million tons of cement sold in 2014), 2 aggregate quarries (about 0.16 million metric tons of aggregates sold in 2014) and 7 ready-mix plants (about 0.25 million cubic meters of ready mix sold in 2014). CEMEX’s operations in Croatia, counting Bosnia & Herzegovina, Montenegro and Serbia, had net sales of about U.S.$138 million in 2014.
The proceeds obtained from this transaction will be used mainly for debt reduction and for general corporate purposes.
CEMEX, S.A.B. de C.V., a building materials company, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, and other construction materials in Mexico, the United States, Northern Europe, the Mediterranean, South America, the Caribbean, and Asia.
Finally, Aquinox Pharmaceuticals Inc. (NASDAQ:AQXP), ended its last trade with 15.22% gain, and closed at $20.29, following the release of positive mid-stage trial results for its bladder pain syndrome/interstitial cystitis treatment candidate AQX-1125.
The stock has spiked almost 1000% from it’s Thursday closing price of $1.79, after the company stated the mid-stage test results for the drug treatment, the only product presently in it’s pipeline.
“Encouraging effects of AQX-1125 observed on the primary end point of reduction in pain together with several statistically noteworthy secondary endpoints, underscore the potential of AQX-1125 as a once-daily, oral therapy for this debilitating disease,” CEO David Main said in a statement.
Aquinox Pharmaceuticals Inc., a clinical-stage pharmaceutical company, engages in discovering and developing targeted therapeutics for diseases in the areas of inflammation and immuno-oncology. The company primarily focuses on anti-inflammatory product candidates targeting SHIP1, a key regulator of a cellular signaling pathway in immune cells.
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