On Monday, Mastercard Inc (NYSE:MA)’s shares declined -0.77% to $91.91.
Mastercard Inc (MA) will offer its customer’s access to Apple Pay, which is transforming mobile payments with an easy, secure and private way to pay, when it launches in the UK.
MasterCard has built a foundation for secure mobile transactions made with Apple Pay, to allow consumers to use their cards where and how they want with a seamless payment experience. For consumers and merchants alike, that means that every purchase made with a MasterCard using an iPhone 6, iPhone 6 Plus or Apple Watch will offer the security, benefits and guarantees of any MasterCard transaction.
In shops, consumers can pay contactless simply by holding their iPhone near a contactless terminal and authenticating with Touch ID. For purchases within an app, consumers simply touch to pay and authenticate with their fingerprint or passcode for a seamless experience without having to enter their card number or leave the app.
MasterCard is working with several banks, counting: HSBC; MBNA; RBS/Natwest and Santander, to enable users of an iPhone 6, iPhone 6 Plus or Apple Watch to use their MasterCard credit, debit or prepaid cards directly through Apple Pay.
MasterCard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company facilitates the processing of payment transactions, counting authorization, clearing, and settlement, in addition to delivers related products and services. It also offers value-added services, such as loyalty and reward programs, and information and consulting services.
Exelixis, Inc. (NASDAQ:EXEL)’s shares gained 3.88% to $3.48.
Exelixis, Inc. (EXEL) declared positive results from a two-stage phase 2 investigator-sponsored trial (IST) evaluating cabozantinib in patients with advanced RET-rearranged lung cancers. Data were stated for the first stage, which enrolled 16 patients. The objective response rate (ORR) was 38% (6/16), with a median duration of response of 8 months. Although the trial is still accruing, it has already met its primary endpoint, surpassing the predefined targeted number of five objective responses. Alexander Drilon, M.D. of New York’s Memorial Sloan Kettering Cancer Center (MSKCC) will present the data (Abstract #8007) recently during an oral abstract session at the 2015 Annual Meeting of the American Society of Clinical Oncology in Chicago, Illinois.
Study Results
At the time of data cut-off, 20 patients had been treated and 18 were evaluable. Data were presented for the 16 patients enrolled in the first stage of the trial. The median age for patients in the first stage of the trial was 59 (range 38-80 years), and 62 percent (10/16) of these were female. All patients in the first stage had adenocarcinoma, the median number of prior lines of chemotherapy was 1, and 31% of patients had received ≥ 2 lines of prior chemotherapy.
PFS and OS are secondary endpoints. The median PFS was 7 months (95% CI 5-NA). The median OS was 10 months (95% CI 8-NA) with a median follow-up of 24 months.
Exelixis, Inc., a biopharmaceutical company, develops and sells small molecule therapies for the treatment of cancer in the United States. The company offers COMETRIQ, an inhibitor of multiple receptor tyrosine kinases for the treatment of patients with progressive, metastatic medullary thyroid cancer. It is also evaluating cabozantinib in various development programs comprising about 45 clinical trials, counting 2 ongoing phase 3 pivotal trials focusing on metastatic renal cell carcinoma (mRCC) and advanced hepatocellular carcinoma (HCC).
At the end of Monday’s trade, New Media Investment Group Inc (NYSE:NEWM)‘s shares surged 1.07% to $18.92.
New Media Investment Group Inc (NEWM) declared that it has reached a contract to purchase all of the publishing operations and assets of The Columbus Dispatch. The Columbus Dispatch has an extensive history serving Central Ohio, and presently has a daily and Sunday circulation of over 130,000 and 235,000, respectively.
Michael E. Reed, New Media’s President and CEO commented, “We are very excited to declare the projected transaction to acquire The Columbus Dispatch, together with its weekly newspapers, magazines and distribution company. The newspaper, first published in 1871, is the sole daily newspaper in its market, and is the trusted source for comprehensive local news, politics, sports and entertainment coverage across Central Ohio. The newspaper has a deep rooted history providing quality journalism and has been named Best Daily Newspaper in Ohio by the Society of Professional Journalists multiple times, counting in three of the last four years.
New Media intends to fund the acquisition with a combination of cash on the balance sheet and an incremental $25.0 million on the Company’s existing term loan. New Media anticipates the deal will close in the second quarter of 2015 subject to customary closing conditions; however, there can be no assurance as to the timing or the occurrence of the closing. Terms of the deal were not revealed.
New Media Investment Group Inc. owns, operates, and invests in local media assets in the United States. The company’s principal products comprise 93 daily newspapers with total paid circulation of about 842,000; 256 weekly newspapers with total paid circulation of about 297,000 and total free circulation of about 741,000; 103 shoppers with total circulation of about 2.6 million; 379 locally focused Websites and 360 mobile sites with about 119 million page views per month; 6 yellow page directories with a distribution of about 430,000 that covers a population of about 1.1 million people; and propel digital marketing services.
Key Energy Services, Inc. (NYSE:KEG), ended its Monday’s trading session with -0.94% loss, and closed at $2.10.
Key Energy Services, Inc. (KEG) declared recently that it has closed a $100 million asset-based revolving credit facility (“ABL”) due February 2020 and closed and funded a $315 million term loan facility due June 2020 (together, the “Facilities”). The Facilities replace Key’s existing $400 million senior revolving credit facility.
The Facilities do not have cash flow based financial maintenance covenants; however, the Facilities require Key to maintain $100 million in liquidity, counting cash and availability under the ABL. Upon closing, Key had $270.6 million of liquidity, assuming the completion of certain post-closing collateral perfection requirements. The Facilities also require Key to maintain the ratio of the net orderly liquidation value of its assets and certain term loan proceeds to term loan borrowings of 1.5x. As of the date of closing, this ratio was 2.15x. The ABL also comprises a fixed charge coverage ratio of 1.0x, which is tested only if excess availability under the ABL falls below a specified threshold or upon the occurrence of certain other events. The term loan was issued at an OID of 3.0% with an annual rate of LIBOR plus 9.25% with a 1.00% LIBOR floor. The ABL bears interest at an annual rate on outstanding borrowings of LIBOR plus 4.5%, with a fee on unused commitments ranging from 1.00% - 1.25% based on utilization. Key plans to file copies of the Facilities with the U.S. Securities and Exchange Commission as exhibits to a Current Report on Form 8-K, and reference should be made to the Facilities for a complete description of their terms.
Bank of America Merrill Lynch acted as the Sole Lead Arranger of the term loan facility and Bank of America Merrill Lynch and Wells Fargo acted as Joint Lead Arrangers on the ABL.
Key Energy Services, Inc. operates as an onshore rig-based well servicing contractor in the United States and internationally. It offers rig-based services, counting the maintenance, workover, and recompletion of existing oil wells; completion of newly-drilled wells; and plugging and abandonment of wells at the end of their lives, in addition to specialty drilling services to oil and natural gas producers.
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