On Wednesday, in the course of current trade, Shares of Franklin Resources, Inc. (NYSE:BEN), climbed 1.17%, and is now trading at $ 50.24.
Franklin Resources, declared the expansion of its retirement target fund lineup for US investors with the introduction of Franklin LifeSmart2055 Retirement Target Fund. Like other funds in the lineup, the fund’s assets are allocated among the broad asset classes of equity, fixed-income and alternative investments by investing predominantly in other Franklin Templeton mutual funds, based on each underlying fund’s predominant asset class and strategy. The new fund joins a lineup that comprises 2015, 2020, 2025, 2030, 2035, 2040, 2045 and 2050 funds.
Like the existing Franklin LifeSmart Retirement Target Funds, the new 2055 fund will target a five percent allocation to alternative investment funds to take advantage of their lower correlation, in general, with traditional asset classes. The funds’ managers have the ability to tactically adjust this allocation within a range of zero to 10 percent as they shift the funds’ allocations based on changing market conditions.
Franklin Resources, Inc. is a publicly owned asset administration holding company. Through its auxiliaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships.
During an Afternoon trade, Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO), climbed 0.73%, and is now trading at $ 20.76.
Halozyme Therapeutics, declared a global partnership and license agreement with AbbVie (ABBV) to develop and commercialize products combining proprietary AbbVie compounds with Halozyme’s ENHANZE platform.
Under the terms of the agreement, Halozyme will receive an initial $23 million payment, followed by milestone payments totaling about $130 million for each of up to nine partnership targets. These payments are subject to AbbVie’s achievement of specified development, regulatory and sales-based milestones. In addition, AbbVie will pay Halozyme tiered royalties if products under the partnership are commercialized.
The Halozyme ENHANZE platform is based on a proprietary recombinant human hyaluronidase enzyme (rHuPH20) that temporarily degrades hyaluronan, a chain of natural sugars in the body, to aid in the dispersion and absorption of other injected therapeutic drugs. For AbbVie, this technology may allow for more rapid delivery of injectable medications through subcutaneous delivery.
Halozyme Therapeutics, Inc., a biotechnology company, researches, develops, and commercializes human enzymes. Its human enzymes are used to facilitate the delivery of injected drugs and fluids, enhancing the efficacy and the convenience of other drugs or can be used to alter abnormal tissue structures for clinical benefit.
Shares of SINA Corp (NASDAQ:SINA), during its Wednesday’s current trading session raised 1.94%, and is now trading at $ 57.62.
SINA Corp, declared that it has reached a legally binding subscription agreement with Mr. Charles Chao, Chairman of SINA’s board of directors and Chief Executive Officer, for the issuance and sale of 11,000,000 newly issued ordinary shares of the Company to Mr. Chao. Following the agreement, Mr. Chao will subscribe for and purchase directly or through a special purpose vehicle beneficially owned and controlled by him, 11,000,000 newly issued ordinary shares of SINA for a total purchase price of about US$456 million in cash. The per share purchase price of US$41.49 represents the average closing trading price of SINA’s ordinary shares for the 30 trading days ended May 29, 2015 and is higher than the closing trading price on May 29, 2015, the last trading day before the signing of the subscription agreement. Mr. Chao has agreed to subject all the shares he or his associate will acquire in the transaction to a contractual lock-up restriction for six months after the closing. The closing is predictable to take place upon satisfaction of customary closing conditions.
SINA Corporation, through its auxiliaries, operates as an online media company in the People’s Republic of China. It operates SINA.com, an online brand advertising portal that provides region-focused format and content, counting multimedia news; sporting events news; automobile-related news; business news coverage and personal finance columns; entertainment news and events; technology updates; interactive video products, such as news, sports, entertainment, and education; and education, digital, fashion, eLadies, luxury, health, collectibles, travel, and other interest-based channels.
Finally, Adobe Systems Incorporated (NASDAQ:ADBE), gained 2.22% Wednesday, hitting its highest level.
Adobe Systems Incorporated, released its annual Digital Index Travel Report, which reveals the best times to book airfare and hotels, top destinations, total online travel spend, consumer buying behaviors across devices and more. The report analyzed more than 15 billion visits across major U.S. travel, airline and hotel sites between 2013 and 2015 and more than three million social media mentions. Consumers are predictable to spend $65 billion online on travel between Memorial Day and Labor Day, seven percent more than in 2014. Twenty percent of travel bookings are now coming from smartphones and tablets, over six percent more than last year. The analysis also shows that Washington D.C. tops the list of U.S. travel destinations followed by Los Angeles, New York, Las Vegas and San Francisco.
Adobe’s annual travel report provides the most comprehensive set of travel insights in the industry and is based on aggregated and anonymous data from Adobe Marketing Cloud. Pricing details are based on booking transactions, which ensures highly accurate predictions. The report analyzed traffic and sales across major U.S. travel, airline and hotel sites counting seven of the top ten airlines and eight of the top ten hotel chains. Adobe also conducted a complementary survey of 1,000 U.S. consumers who plan to travel this summer.
Adobe Systems Incorporated is a diversified software company worldwide. It operates in three segments: Digital Media, Digital Marketing, and Print and Publishing. The Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content.
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