On Tuesday, Shares of JD.com, Inc. (NASDAQ:JD), gained 5% to $23.95.
JD.com, China’s largest online direct sales company, declared that its Board of Directors has authorized a share repurchase program under which the Company may repurchase up to US$1.0 billion worth of its American depositary shares (“ADSs”) over the next 24 months.
The Company’s projected repurchases may be made from time to time on the open market at prevailing market prices, in negotiated transactions off the market, in block trades or through other legally permissible means. The timing and extent of any purchases will depend upon market conditions, the trading price of its ADSs and other factors, and are subject to the restrictions regarding volume, price and timing under applicable law. JD.com anticipates to implement this share repurchase program in a manner consistent with market conditions and the interests of the Company’s shareholders. JD.com’s Board of Directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size accordingly. JD.com plans to fund repurchases made under this program from its available cash balance.
JD.com, Inc., through its auxiliaries, operates as an online direct sales company in the People’s Republic of China. It primarily offers electronics and home appliances products; and general merchandise products, counting audio and video products, and books.
Shares of Encana Corporation (NYSE:ECA), inclined 1.46% to $6.93, during its last trading session, as Brent crude settled up 4 percent on Tuesday as strength in stock markets assisted the global oil benchmark recoup the bulk of its losses from the previous session, according to Reuters.
U.S. crude fell slightly in volatile trade, reopening from Monday’s U.S. markets closure for the Labor Day holiday to news of refinery outages. Reuters Reports
The divergence between Brent and U.S. crude could grow if weekly crude inventories cited on Wednesday by industry group American Petroleum Institute (API) turn out to be higher than predictable by the market. Reuters added.
Encana Corporation, together with its auxiliaries, engages in the development, exploration, production, and marketing of natural gas, oil, and natural gas liquids in Canada and the United States.
Finally, Abbott Laboratories (NYSE:ABT), ended its last trade with 2.25% gain, and closed at $44.04.
Abbott Laboratories declared that it has accomplished its acquisition of Tendyne Holdings, Inc., a private medical device company focused on developing minimally invasive mitral valve replacement therapies. Abbott attained the equity of Tendyne that it did not already own for $225 million upfront, resulting in a total transaction value of $250 million, and potential future payments tied to regulatory milestones.
“The Tendyne acquisition broadens Abbott’s foundation as a leader in treatments for mitral valve disease, which is highly complex and requires multiple treatment options,” said John M. Capek, Ph.D., executive vice president, Ventures, Abbott. “Our aim is to provide effective, less invasive valve treatment technologies to treat people based on their specific anatomy and health situation.”
Tendyne’s Bioprosthetic Mitral Valve System is designed to be implanted in a beating heart, without the need for open-heart surgery, which would be a new treatment option for mitral valve replacement. It is an investigational device and not presently available for sale. The U.S. Food and Drug Administration has given approval for a feasibility clinical trial to provide data about the device’s safety and effectiveness. The trial has begun enrolling patients, and there are plans to start enrollment next year in a clinical trial to support CE Mark in Europe.
Abbott Laboratories manufactures and sells health care products worldwide. Its Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome; intrahepatic cholestasis or depressive symptoms; gynecological disorders; dyslipidemia; hypertension; hypothyroidism; pain, fever, and inflammation; hormone replacement therapy; anti-infective and influenza vaccines; and product that regulates physiological rhythm of the colon.
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