On Wednesday, in the course of current trade, Shares of United States Steel Corp. (NYSE:X), gained 2.05%, and is now trading at $26.33.
Today, United States Steel’s President and Chief Executive Officer Mario Longhi declared that Nancy Sykes has been named vice president - human resources. In this position, she will be responsible for all facets of the company’s human resources, in addition to medical and health services. Sykes will be based at the company’s Pittsburgh headquarters and will join the company’s executive administration team.
Sykes was most recently at Goodyear Tire and Rubber Company, where she started as vice president, talent administration before moving to China in her current role of vice president, human resources Asia-Pacific in October 2012. While at Goodyear she led the Asia-Pacific human resources function for more than 10,000 employees in twelve countries with seven manufacturing locations. In Asia-Pacific, her activities focused on building the team required to grow the business. In her preceding role, Sykes led activities focused on establishing and improving global processes for performance administration, succession planning, compensation, talent acquisition, associate engagement, learning and development and HR information systems.
United States Steel Corporation produces and sells flat-rolled and tubular steel products in North America and Europe. It operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, rounds, strip mill plates, sheets, and tin mill products.
During an Afternoon trade, Shares of Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), gained 1.89%, and is now trading at $4.32.
Arena Pharmaceuticals, declared that its partner, Arena Pharmaceuticals GmbH, and Roivant Sciences Ltd., have reached a Development, Marketing and Supply Agreement for nelotanserin, Arena’s internally discovered inverse agonist of the 5-HT2A receptor. The agreement grants Roivant exclusive worldwide rights to develop and commercialize nelotanserin.
Nelotanserin has been studied to date in multiple clinical trials involving over 900 subjects. Roivant intends to initiate additional Phase 2 clinical trials for the treatment of behavioral and neuropsychiatric disturbances, counting psychoses, in patients with dementia and other neurological diseases. In addition, Roivant may pursue the development of nelotanserin for other neuropsychiatric disorders. Roivant will be responsible for funding the development and commercialization of nelotanserin.
Under the agreement, Arena will manufacture clinical supply and commercial product to sell to Roivant. Arena will receive a $4.0 million upfront payment and is eligible to receive $41.5 million in regulatory and development milestone payments. Arena is also eligible to receive 15% of net sales of nelotanserin in exchange for the manufacture and supply of finished commercial drug product, and up to a total of $60.0 million in one-time purchase price adjustment payments tied to certain commercial sales milestones.
Arena Pharmaceuticals, Inc., a biopharmaceutical company, discovers, develops, and commercializes novel drugs that target G protein-coupled receptors. The company offers BELVIQ, a drug used to treat chronic weight administration in adults. It is also developing a portfolio of programs in various therapeutic areas, counting cardiovascular, central nervous system, and metabolic diseases.
Shares of Scripps Networks Interactive, Inc. (NYSE:SNI), during its Wednesday’s current trading session fell -0.48%, and is now trading at $66.39.
Scripps Networks Interactive, stated first-quarter 2015 operating results.
Merged revenues for the quarter raised $14.5 million, or 2.3 percent, to $658 million from the preceding-year period. Results for the three-month period ended March 31 comprise advertising revenue of $435 million, up marginally over last year, and associate fee revenue of $209 million, up $8.1 million, or 4.1 percent, year over year.
Costs of services and selling, general and administrative expenses for the quarter raised $28.3 million, or 7.6 percent, to $401 million from the preceding-year period. The enhance was driven by $10.2 million of transaction expenses related to the pending acquisition of TVN and $4.9 million of costs related to the formerly declared restructuring programs. Also contributing to the enhance were higher programming amortization and marketing and promotion expenses. Not taking into account the TVN transaction expenses and restructuring charges, cost of services and selling, general and administrative expenses would have raised $13.2 million, or 3.5 percent.
Total segment profit reduced $13.8 million, or 5.1 percent, to $257 million, reflecting TVN transaction expenses and restructuring charges coupled with enhances in programming and marketing and promotion expenses. Not taking into account TVN transaction expenses and restructuring charges, total segment profit would have raised $1.3 million, 0.5 percent.
Scripps Networks Interactive, Inc. develops lifestyle-oriented content for linear and interactive video platforms in the United States, the United Kingdom and other European markets, the Middle East and Africa, the Asia-Pacific, and Latin America. The company delivers content that focuses on specifically defined topics of interest for audiences and advertisers.
Finally, Pepco Holdings, Inc. (NYSE:POM), lost -0.87% Wednesday.
Pepco Holdings, stated first quarter 2015 merged earnings.
“Our first quarter financial results reflect our investment in utility infrastructure aimed at improving system reliability and customer service,” said Joseph M. Rigby, Chairman, President and Chief Executive Officer. “Higher operation and maintenance costs, largely driven by the implementation of a new customer information system also influenced first quarter merged earnings.” Rigby added, “As we work on obtaining the remaining regulatory approvals for the merger with Exelon, we are happy to have reached a merger settlement agreement with Montgomery and Prince George’s Counties and other parties in Maryland.” Rigby added, “We believe this transaction provides noteworthy benefits for all of our stakeholders and that the commitments we have made meet our jurisdictions’ requirements for merger approval. We continue to expect the transaction to close in the second or third quarter of this year.”
Pepco Holdings’ GAAP net income for the three months ended March 31, 2015 was $53 million, or 21 cents per share, as contrast to $75 million, or 30 cents per share for the same period in 2014. There were no adjustments to GAAP earnings for the first quarter of 2014. Not taking into account items that company believe are not representative of ongoing business operations, adjusted net income for the first quarter of 2015 would have been $61 million, or 24 cents per share.
Pepco Holdings, Inc., through its auxiliaries, engages in the transmission, distribution, and supply of electricity. The company also distributes and supplies natural gas. In addition, the company designs, constructs, and operates energy projects and distributed generation equipment, counting combined heat and power plants principally for federal, state, and local government customers.
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