On Tuesday, Ford Motor Company (NYSE:F)’s shares declined -2.83% to $13.91.
The Board of Directors of Ford Motor Company (F) approved a three-year extension of Ford’s current tax benefit preservation plan, which is designed to preserve Ford’s substantial tax assets. The current plan, originally adopted in September 2009 and amended in September 2012, was planned to expire on September 30, 2015. The extension approved by the Board of Directors extends the final expiration date of the plan to September 30, 2018.
The purpose of the plan is to protect shareholder value by safeguarding noteworthy tax assets. It is similar to tax benefit preservation plans adopted by many other public companies with noteworthy tax attributes.
At year-end 2014, Ford had tax attributes, counting net operating losses and tax credit carry forwards, that would offset more than $15 billion of taxable income. Ford can utilize these tax attributes in certain circumstances to offset taxable income and reduce its federal income tax liability.
Ford Motor Company manufactures and distributes automobiles worldwide. The company operates through two sectors, Automotive and Financial Services. The Automotive sector develops, manufactures, distributes, and services vehicles, parts, and accessories.
Merck & Co., Inc. (NYSE:MRK)’s shares dropped -0.47% to $50.74.
MSD, known as Merck (MRK) in the United States and Canada, recently declared that omarigliptin, MSD’s investigational once-weekly DPP-4 inhibitor in development for adults with type 2 diabetes, achieved its primary efficacy endpoint in a Phase 3 study. Omarigliptin was found to be non-inferior to MSD’s once-daily DPP-4 inhibitor, JANUVIA® (sitagliptin), at reducing patients’ HbA1c* levels from baseline, with similar HbA1c reductions achieved in both groups. The head-to-head study was designed to evaluate once-weekly treatment with omarigliptin 25 mg contrast to 100 mg of JANUVIA once daily, a widely prescribed DPP-4 inhibitor worldwide. Results were presented during an oral session at the 51st European Association for the Study of Diabetes (EASD) Annual Meeting.
MSD presented a new drug application to the Japanese Pharmaceuticals and Medical Devices Agency in November 2014 and plans to submit for regulatory approval of omarigliptin in the United States by the end of 2015. The clinical development program for omarigliptin, O-QWEST (Omarigliptin Q Weekly Efficacy and Safety in Type 2 Diabetes), comprises 10 Phase 3 clinical trials involving about 8,000 patients with type 2 diabetes.
Merck & Co., Inc. provides health care solutions worldwide. The company offer therapeutic and preventive agents to treat cardiovascular, type 2 diabetes, asthma, nasal allergy symptoms, allergic rhinitis, chronic hepatitis C virus, HIV-1 infection, fungal infections, intra-abdominal infections, hypertension, arthritis and pain, inflammatory, osteoporosis, male pattern hair loss, and fertility diseases.
At the end of Tuesday’s trade, Mylan NV (NASDAQ:MYL)‘s shares dipped -3.14% to $46.65.
Mylan N.V. (MYL) confirmed that on September 19, 2015 the Stichting Preferred Shares Mylan, an independent foundation incorporated under the laws of the Netherlands (the “Foundation”), requested cancellation of the preferred Mylan shares issued to the Foundation on July 23, 2015. The Foundation informed Mylan it was satisfied that influences that might adversely affect the strategy, mission and other interests of Mylan, its business and its stakeholders to be protected by the Foundation as described in the Foundation’s articles of association have been sufficiently addressed.
Cancellation of the preferred shares requires Mylan shareholder approval. The Mylan Board of Directors will declare the shareholders meeting to approve the cancellation of the preferred shares in due course.
Mylan N.V., through its auxiliaries, develops, licenses, manufactures, markets, and distributes generic, branded generic, and specialty pharmaceuticals worldwide. The company provides generic or branded generic pharmaceutical products in tablet, capsule, injectable, or transdermal patch forms, in addition to active pharmaceutical ingredients (APIs).
Hilton Worldwide Holdings Inc (NYSE:HLT), ended its Tuesday’s trading session with -1.46% loss, and closed at $23.68.
Hilton Worldwide (HLT) declared that The Asheville Foundry Inn in North Carolina will join Curio – A Collection by Hilton™, a global set of remarkable upscale and luxury hotels hand-picked for their distinctive character and personality, appealing to passionate travelers seeking local discovery.
Construction of the new-build 92-room hotel at Eagle and South Market streets will preserve existing buildings in the exciting downtown area to maintain the character and spirit of the local community. The Asheville Foundry Inn, Curio Collection by Hilton, is predictable to open by December of 2016.
Historically known as the Foundry Buildings, the three original, contiguous buildings to remain as part of the development are recognized as some of the most noteworthy structures in Asheville. Much of the steel used in the construction of buildings in the Asheville area was formed and created at this site. Together with two newer buildings on the site, The Foundry Inn will be comprised of these five connected buildings counting a 100-seat restaurant, 3,500 square foot lounge with a library and fireplaces, 3,600 square foot luxury spa and fitness center, and about 3,000 square feet of functional meeting and event space.
Hilton Worldwide Holdings Inc., a hospitality company, owns, leases, manages, develops, and franchises hotels, resorts, and timeshare properties worldwide. The company operates hotels under 12 brand names, counting Hilton Hotels & Resorts, Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Canopy by Hilton, Curio-A Collection by Hilton, DoubleTree by Hilton, Embassy Suites Hotels, Hilton Garden Inn, Hampton Hotels, Homewood Suites by Hilton, Home2 Suites by Hilton, and Hilton Grand Vacations.
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