On Tuesday, Shares of Chesapeake Energy Corporation (NYSE:CHK), gained 2.62% to $12.53, as oil futures marked their first gain in four sessions Tuesday as traders bet that data due out this week will show another weekly drop in U.S. crude supplies.
July crude tacked on 45 cents, or 0.8%, to settle at $59.97 a barrel on the New York Mercantile Exchange after tallying a loss of more than 3% over the past three trading sessions.
August Brent crude on London’s ICE Futures exchange fell 25 cents, or 0.4%, to $63.70 a barrel, MarketWatch Reports.
Chesapeake Energy Corporation engages in the acquisition, exploration, and development of properties for the production of oil, natural gas and natural gas liquids (NGL) from underground reservoirs in the United States.
Shares of Gilead Sciences Inc. (NASDAQ:GILD), inclined 0.77% to $119.07, during its last trading session, as Health care stocks were holding on to moderate gains Tuesday afternoon, with the NYSE Health Care Sector Index climbing about 0.4% and shares of health care companies in the S&P 500 also adding about 0.4% as a group.
On May 31, Gilead Sciences, Inc. declared results from the Phase 3 clinical Study 119 of an investigational use of Zydelig® (idelalisib) in combination with ofatumumab in formerly-treated patients with chronic lymphocytic leukemia (CLL). In Study 119, there was a 73 percent reduction in the risk of disease progression or death in patients receiving Zydelig in combination with ofatumumab contrast to ofatumumab alone (hazard ratio (HR) = 0.27; 95 percent CI: 0.19, 0.39; p<0.0001). Detailed results will be presented recently during a poster session at the 51st Annual Meeting of the American Society of Clinical Oncology (ASCO) in Chicago (Abstract #7023).
Study 119 was a randomized, controlled, open-label Phase 3 study evaluating the efficacy and safety of Zydelig in combination with ofatumumab. The study enrolled 261 adult patients with formerly treated CLL whose disease had progressed less than 24 months following completion of preceding therapy, and had not formerly been refractory to ofatumumab. Eligible patients were randomized 2:1 to receive an ofatumumab 1,000 mg dosing regimen (12 infusions, first infusion 300mg) over 24 weeks plus Zydelig (150 mg) twice daily (n=174) continuously until disease progression or unacceptable toxicity or an ofatumumab 2,000 mg dosing regimen (12 infusions, first infusion 300mg) over 24 weeks (n=87).
The primary endpoint was progression-free survival (PFS), defined as the time from randomization to definitive disease progression or death assessed by an independent review committee. Median PFS in the Zydelig/ofatumumab arm was 16.3 months, contrast to 8.0 months in the ofatumumab monotherapy arm. Statistically noteworthy improvements were also observed for overall response rate (75 percent vs. 18 percent; odds ratio (OR) = 15.9, p<0.0001) and lymph node response rate (93.3 percent vs. 4.9 percent; OR=486.96, p<0.0001). Median PFS in the about 40 percent of patients with 17p deletion or TP53 mutation was 13.7 months vs. 5.8 months (HR=0.32, p<0.0001). A statistically noteworthy difference was not achieved in median overall survival (20.9 months vs. 19.4 months; HR=0.74, p=0.27).
Gilead Sciences, Inc., a biopharmaceutical company, discovers, develops, and commercializes medicines in areas of unmet medical need in North America, South America, Europe, and the Asia-Pacific.
Finally, Morgan Stanley (NYSE:MS), ended its last trade with 0.53% gain, and closed at $39.74.
Morgan Stanley, declared a regular dividend on the outstanding shares of each of the following preferred stock issues:
- Floating Rate Non-Cumulative Preferred Stock, Series A - $252.78 per share (equivalent to $0.25278 per Depositary Share)
- 10 Percent Non-Cumulative Non-Voting Perpetual Preferred Stock, Series C - $25.00 per share
- Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series E - $445.31 per share (equivalent to $0.44531 per Depositary Share)
- Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series F - $429.69 per share (equivalent to $0.42969 per Depositary Share)
- 625 Percent Non-Cumulative Preferred Stock, Series G - $414.06 per share (equivalent to $0.41406 per Depositary Share)
- Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series H - $681.25 per share (equivalent to $27.25000 per Depositary Share)
- Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series I - $398.44 per share (equivalent to $0.39844 per Depositary Share)
- Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series J - $447.08 per share (equivalent to $17.88333 per Depositary Share)
The dividends for the Preferred Stock Series A, C, E, F, G, H, I and J are payable on July 15, 2015 to stockholders of record at the close of business on June 30, 2015.
Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals worldwide. The companys Institutional Securities segment offers financial advisory services on mergers and acquisitions, divestitures, joint ventures, corporate restructurings, recapitalizations, spin-offs, exchange offers, leveraged buyouts, takeover defenses, and shareholder relations, in addition to provides capital raising and corporate lending services.
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