On Monday, Shares of Ascena Retail Group Inc. (NASDAQ:ASNA), lost -12.77% to $14.28.
Ascena Retail Group, declared that it has updated its financial outlook for the quarter and fiscal year ending July 25, 2015 primarily to reflect its recent decision to accelerate its planned merchandise transition at Justice and to incorporate lower than predictable top-line performance at Justice and dressbarn. Separately, the Company also declared that in the fourth quarter it anticipates to take a non-cash, pre-tax goodwill and intangible asset impairment charge in the range of $275 million to $325 million related to Lane Bryant, and a pre-tax charge of about $50 million to establish a reserve for the future settlement of the formerly revealed Justice class action litigation.
Subject to completion of the Company’s fourth quarter close and audit of its fiscal year 2015 financial statements, the Company now anticipates full-year adjusted EBITDA from ongoing operations in the range of $365 million to $375 million, and full-year adjusted earnings per diluted share from ongoing operations in the range of $0.57 to $0.60 as contrast to its preceding expectation of $0.70 to $0.75 per share. These ranges exclude the above-mentioned charges for the goodwill and intangible asset impairment and the litigation reserve.
Ascena Retail Group, Inc., through its auxiliaries, operates as a specialty retailer of apparel for women, and tween girls and boys. It operates through five segments: Justice, Lane Bryant, maurices, dressbarn, and Catherines segments.
Shares of AFLAC Inc. (NYSE:AFL), declined -0.47% to $61.42, during its last trading session.
Aflac Incorporated, released its 2014 Corporate Citizenship Report. The informative online document, accessible at Aflac.com, highlights the accomplishments of the company in the area of citizenship, counting reports on company innovation, diversity and philanthropy in 2014. According to the report, the $23.9 billion dollar company places a premium on ethics and integrity, which they call the “Aflac Way.”
Key items in the report comprise:
- Innovation - Aflac developed One Day PaySM, an innovative claims processing system by which eligible claims filed online through Aflac SmartClaim® before 3:00 p.m. ET, Monday through Friday, together with all the necessary documentation, are paid by the following day.
- Diversity - Aflac’s workforce is 67 percent women, 43 percent minority, 33 percent female minorities, with more than 28 percent of all officers being women as well. In 2014, the company promoted two African-American women to the highest offices in their respective fields, President of Aflac U.S. and General Counsel.
- Philanthropy - Aflac is set to achieve its stated aim of surpassing $100 million in contributions to the Aflac Cancer Center by the end of 2015. As of the end of 2014, Aflac had already surpassed $95 million to assist fund valuable treatment and research for children’s cancer, of which $500,000 each month comes voluntarily from the commission checks of Aflac’s independent sales agents.
Aflac Incorporated, through its partner, American Family Life Assurance Company of Columbus, provides supplemental health and life insurance products. It operates through two segments, Aflac Japan and Aflac U.S. The Aflac Japan segment offers various voluntary supplemental insurance products, counting cancer plans, general medical indemnity plans, medical/sickness riders, care plans, living benefit life plans, ordinary life insurance plans, and annuities in Japan.
Finally, OncoGenex Pharmaceuticals, Inc. (NASDAQ:OGXI), ended its last trade with 3.14% gain, and closed at $2.30.
OncoGenex Pharmaceuticals, declared that its Phase 3 ENSPIRIT trial evaluating custirsen in the treatment of advanced or metastatic non-small cell lung cancer (NSCLC) is ongoing as planned per the recommendation of an Independent Data Monitoring Committee (IDMC). This decision was based upon completion of the second and final planned interim futility analysis.
Two interim analyses were originally planned to evaluate whether to stop the trial for futility. OncoGenex filed an amendment with the U.S. Food and Drug Administration amending the statistical design and analysis plan that comprised of a more rigorous and expedient evaluation of the potential survival benefit associated with custirsen in NSCLC. Based on current enrollment, initial ENSPIRIT results could be accessible in the second half of 2016.
OncoGenex Pharmaceuticals, Inc., a biopharmaceutical company, develops and commercializes therapies that address treatment resistance in cancer patients. The company’s product candidates comprise Custirsen that is in Phase III clinical development for the treatment in men with metastatic castrate-resistant prostate cancer, in addition to in patients with non-small cell lung cancer; and Apatorsen, which is in two Phase I and seven randomized Phase II trials for the treatment of bladder, lung, pancreatic, and prostate cancers.
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