On Friday, Shares of Wells Fargo & Company (NYSE:WFC), lost -0.93% to $55.52.
Wells Fargo & Company, extended $22.6 billion in new loan commitments to small business customers (primarily with annual revenue less than $20 million) in the first 15 months of its five-year aim (January 2014 – March 2015). The company intends to extend $100 billion in new lending to small businesses by the end of 2018. The five-year lending aim was introduced in 2014 together with Wells Fargo Works for Small BusinessSM, a broad initiative to deliver resources, guidance and services to assist business owners achieve financial success.
The lending aim tracks Wells Fargo’s new lending to small businesses with annual revenues of less than $20 million, and comprises new loans, new or raised lines of credit and credit cards. The company’s progress toward the aim over the last 15 months has been supported by lending growth to small business owners in several areas, counting:
- Wells Fargo’s combined Business Direct credit card, lines of credit and loan product solutions (primarily under $100,000 sold through our retail banking stores) in first quarter 2015 were up 23 percent from the preceding year.
- Wells Fargo SBA 7(a) lending approvals, from October 2014 through March 2015 (six months of federal fiscal year 2015), were up 13 percent in dollars and 47 percent in units from the preceding year.
Wells Fargo & Company provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. Its Community Banking segment offers checking, savings, market rate, individual retirement, and health savings accounts, in addition to time deposits and remittances; and lines of credit, auto floor plan lines, equity lines and loans, equipment and transportation loans, education and residential mortgage loans, and debit and credit cards.
Shares of VimpelCom Ltd. (NASDAQ:VIP), inclined 5.13% to $6.35, during its last trading session.
VimpelCom, declared that it’s been awarded ‘Best Consumer Innovation Service’ for its Digital HUB. The Digital HUB was developed in partnership with Opera Software and AT-Consulting and was heralded as a leading mobile innovation by Global Telecoms Business (GTB) at an award ceremony in London last night.
VimpelCom’s Digital HUB offers internet partners a cost-effective and agile way to connect cloud-based smartphone apps and mobile internet services with VimpelCom’s mobile networks worldwide, bringing an improved mobile internet experience to its customers, up to 218 million customers.
Romeo Ganescu, VimpelCom’s Director Product Development, says: “As a leading global mobile provider VimpelCom is very happy to be awarded Best Consumer Innovation Service. The Hub gives customers more convenience and control in the way they experience and interact with their mobile services and apps.”
VimpelCom Ltd. provides telecommunications services in Italy, Russia, Ukraine, Kazakhstan, Uzbekistan, Tajikistan, Armenia, Georgia, Kyrgyzstan, Laos, Algeria, Bangladesh, and Pakistan. It offers voice and data services through a range of traditional and broadband mobile and fixed line technologies.
At the end of Friday’s trade, Shares of Companhia de Saneamento Basico do Estado de Sao Paulo (NYSE:SBS), gained 1.39% to $6.56.
SABESP, declared its 1Q15 results.
In 1Q15, net operating revenue, counting construction revenue, reached R$ 2.5 billion; an 11.6% decrease contrast to 1Q14.
Costs and expenses, counting construction costs, totaled R$ 1.4 billion, down by 32.9% contrast to R$ 2.0 billion recorded in 1Q14. Not taking into account the R$ 696.3 million reimbursement from the Sao Paulo state government, costs and expenses raised R$ 25.8 million or 1.3%.
Adjusted EBIT, in the amount of R$ 1.1 billion, grew 46.1% from R$ 755.6 million recorded in the same quarter of the previous year.
Adjusted EBITDA, in the amount of R$ 1.4 billion, raised 33.6% from R$ 1.0 billion recorded in 1Q14.
The adjusted EBITDA margin was 55.0% in 1Q15, as compared to 36.4% in 1Q14. Not taking into account construction revenues and construction costs, the adjusted EBITDA margin was 71.6% in 1Q15 (44.5% in 1Q14).
Net income totaled R$ 318.2 million, 33.4% lower than R$ 477.6 million recorded in 1Q14.
Companhia de Saneamento Basico do Estado de Sao Paulo SABESP provides basic and environmental sanitation services; and supplies treated water on a wholesale basis to residential, commercial, industrial, and governmental customers in the state of Sao Paulo.
Finally, Amgen Inc. (NASDAQ:AMGN), ended its last trade with 0.23% gain, and closed at $162.36.
Amgen, declared the first results from its global Phase 2, double-blind, placebo-controlled study evaluating the efficacy and safety of AMG 334 for the prevention of episodic migraine. The study met its primary endpoint of reducing monthly mean migraine days contrast with placebo. The data were presented at the 17th Congress of the International Headache Society (IHC 2015) in Valencia, Spain.
AMG 334 is a fully human monoclonal antibody under investigation for the prevention of migraine by inhibiting the calcitonin gene-related peptide (CGRP) receptor that is believed to transmit signals that can cause incapacitating pain.
In the trial, 483 patients were randomized to subcutaneous monthly placebo or AMG 334 (7 mg, 21 mg or 70 mg) in a 3:2:2:2 ratio, respectively. Patients had a mean baseline of 8.7 migraine days per month. The primary endpoint was the change from baseline in monthly migraine days at week 12. Patients randomized to the 70 mg dose group observed a statistically noteworthy3.4-day reduction in monthly migraine days contrast with 2.28 days observed in the placebo group (p=0.021).
Amgen Inc., a biotechnology company, discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses for the treatment of illness in the areas of oncology, hematology, inflammation, bone health, nephrology, cardiovascular, and general medicine.
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