On Wednesday, International Business Machines Corp. (NYSE:IBM)’s shares inclined declined -0.91% to $167.09.
IBM (NYSE: IBM) and Box (BOX) declared a global partnership that will combine the best-in-class technologies and resources of both companies to transform work in the cloud. Together, the companies plan to integrate their existing products and services and develop new, innovative solutions targeted across industries and professions ranging from medical teams working on complex cases to individuals negotiating consumer loans by mobile phone to engineers and researchers identifying patterns in patents, reports and academic journals.
As companies increasingly seek simple, secure partnership solutions that tap into local data and have global reach, this planned alliance brings together Box’s industry-leading cloud content partnership platform with IBM Analytics and Social solutions, IBM Security technologies and the global footprint of the IBM Cloud. The two companies will jointly deliver these solutions to market internationally, and IBM will also enable builders and developers to integrate Box APIs into enterprise apps and web services.
International Business Machines Corporation provides information technology (IT) products and services worldwide. The company’s Global Technology Services segment provides IT infrastructure and business process services, such as outsourcing, processing, integrated technology, cloud, and technology support. Its Global Business Services segment offers consulting and systems integration services for strategy and transformation, application innovation services, enterprise applications, and smarter analytics; and application administration, maintenance, and support services.
CIGNA Corporation (NYSE:CI)’s shares gained 0.58% to $165.75.
A.M. Best has placed the financial strength rating (FSR) of A (Excellent) and the issuer credit ratings (ICR) of “a” of the key life/health auxiliaries, the medical health maintenance organizations (HMO) and dental HMO auxiliaries of Cigna Corporation (collectively referred to as Cigna) (Bloomfield, CT) [NYSE:CI] under review with developing implications. Conpresently, the ICR of “bbb” of Cigna and its existing debt ratings have been placed under review with developing implications. A.M. Best also has placed the FSRs of A- (Excellent) and the ICRs of “a-” of four Cigna supplemental benefit companies and six Cigna HealthSpring companies under review with developing implications.
The actions follow the recent public declarement by Anthem, Inc. (Anthem) (Indianapolis, IN) [NYSE:ANTM] of its intent to acquire Cigna for $184 a share in cash and stock. Although the price represents noteworthypremium to Cigna’ stock price, Cigna’s board publicly rejected the proposal, claiming that it is not in the best interest of shareholders. However, Anthem reiterated its commitment to the proposal and publicly revealed details of the potential transaction. The transaction is planned to be financed through a combination of cash and new debt with predictable financial leverage reaching around 50% following the deal completion. The acquisition will be subject to regulatory approval in multiple jurisdictions, which could extend until the end of 2016.
Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. The company’s Commercial segment offers insured and self-insured customers medical, dental, behavioral health, and vision, in addition to prescription drug benefit plans, health advocacy programs, and other products and services. Its Government segment offers Medicare Advantage plans to seniors in 16 states and the District of Columbia, Medicare Part D plans in 50 states and the District of Columbia, and Medicaid plans.
At the end of Wednesday’s trade, GlaxoSmithKline plc (ADR) (NYSE:GSK)‘s shares surged dipped -0.06% to $43.35.
GlaxoSmithKline plc (ADR) (NYSE:GSK) declared that the U.S. Centers for Disease Control (CDC) Advisory Committee on Immunization Practices (ACIP) voted for a Category B recommendation for meningococcal group B vaccination, counting BEXSERO® (Meningococcal Group B Vaccine), in individuals aged 16 to 23 (with a preferred age of 16-18). This recommendation means that the decision to vaccinate against meningococcal group B will be made by qualified healthcare professionals, based on individual patient risk assessment. BEXSERO® was approved by the U.S. Food and Drug Administration (FDA) in January 2015 through an accelerated approval pathway for use in individuals aged 10 through 25 years and attained by GSK in March 2015 following the closure of the three-part transaction with Novartis.
GlaxoSmithKline plc creates, discovers, develops, manufactures, and markets pharmaceutical products, counting vaccines, over-the-counter medicines, and health-related consumer products worldwide. The company offers pharmaceutical products in the therapeutic areas, counting respiratory, anti-virals, central nervous system, cardiovascular and urogenital, metabolic, anti-bacterials, and emesis, dermatology, rare diseases, immuno-inflammation, vaccines, and HIV. It also provides consumer healthcare products in wellness, oral health, nutrition, and skin health areas.
Caterpillar Inc. (NYSE:CAT), ended its Wednesday’s trading session with -0.32% loss, and closed at $88.17.
Trade Promotion Authority (TPA), a critical tool long absent from United States trade negotiations, cleared its final hurdle before being sent to President Obama. Passing the Senate with bipartisan support, TPA is a linchpin that will provide U.S. trade negotiators with the strongest possible negotiating position as the U.S. seeks to expand trade with Europe, the Asia-Pacific Rim and developing countries. While Caterpillar (CAT) played a leadership role in support of TPA, a key difference-maker was the engagement of Caterpillar employees.
Caterpillar Inc. manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. The companys Construction Industries segment offers backhoe, small wheel, skid steer, multi-terrain, compact track, medium and compact wheel, and track-type loaders; mini, wheel, and track excavators; track-type tractors; and select work tools, motor graders, telehandlers, soil compactors, and pipelayers, in addition to its related parts for the heavy and general construction, rental, mining and quarry, and aggregates markets. Its Resource Industries segment provides electric rope and hydraulic shovels; draglines; drills; highwall and longwall miners; hard rock vehicles; articulated, large mining, and off-highway trucks; large wheel loaders; wheel tractor scrapers; wheel dozers; machinery components; and electronics and control systems for use in mining and quarry applications.
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