On Monday, SunTrust Banks, Inc. (NYSE:STI)’s shares declined -0.42% to $42.84.
SunTrust Banks, Inc. (STI) declared that it plans to release second quarter 2015 results prior to the market opening on Friday, July 17, 2015.
SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation’s largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of March 31, 2015, SunTrust had total assets of $189.9 billion and total deposits of $144.4 billion. Through its flagship partner, SunTrust Bank, the company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The company also serves clients in selected markets nationally. Its primary businesses comprise deposit, credit, trust, and investment services. Through its various auxiliaries, the company provides mortgage banking, asset administration, securities brokerage, and capital market services. SunTrust’s Internet address is suntrust.com.
SunTrust Banks, Inc. operates as the holding company for SunTrust Bank that provides various financial services in the United States. The company operates in three segments: Consumer Banking and Private Wealth Administration, Wholesale Banking, and Mortgage Banking. The Consumer Banking and Private Wealth Administration segment offers deposits, home equity lines and loans, credit lines, indirect auto loans, student loans, bank cards, and other lending products, in addition to various services.
Pengrowth Energy Corp (USA) (NYSE:PGH)’s shares dropped -2.16% to $2.49.
Pengrowth Energy Corp (USA) (PGH) disclosed that production from the Lindbergh thermal project now exceeds the project’s nameplate capacity of 12,500 barrels per day (bbl/d). With all three well pads now on SAGD (steam assisted gravity drainage) production, the project is presently producing in excess of 13,000 bbl/d with an instantaneous steam oil ratio of 1.9. Installation of the remaining down hole electric submersible pumps (ESPs) was accomplished at the end of May and all producing wells now have ESPs in place. Production rates from the commercial project continue to enhance, tracking the performance of the two pilot well pairs which have now been on production for over three years and which have been integrated into the commercial project. The project remains on track with continued ramp-up of production predictable through the remainder of 2015, ultimately achieving production rates of 16,000 bbl/d by the end of the year.
In addition, construction and commissioning of the Husky sales line is predictable to be accomplished by the end of June. The completion of the sales line will provide additional transportation/marketing optionality for the company. Pengrowth anticipates to utilize both pipeline and rail to move production to markets in an effort to maximize revenues and netbacks.
Pengrowth Energy Corporation engages in the acquisition, development, exploration, and production of oil and natural gas assets in the Alberta, British Columbia, Saskatchewan, and Nova Scotia provinces in Canada. It primarily explores for crude oil, bitumen, natural gas, and natural gas liquids.
At the end of Monday’s trade, SolarCity Corp (NASDAQ:SCTY)‘s shares dipped -2.88% to $56.57.
SolarCity Corp (SCTY) America’s #1 solar power provider, will make it possible for many Rhode Island homeowners to install solar with no upfront cost and pay as much as 20 percent less by going solar than they pay the utility. SolarCIty is making its popular MyPower solar loan accessible in Rhode Island for the first time. SolarCity anticipates the unique solar loan to right away become the most affordable residential solar power option in the state.
MyPower loan payments are based on the production of the solar energy system, just like a solar power purchase agreement (PPA). Unlike a PPA, the homeowner retains ownership of the solar panels. SolarCity’s affordable solar power options have made it the number one choice among American consumers—the company is presently providing one out of every three new solar energy systems in the U.S.
Initially, homeowners in ten towns in the National Grid territory will have access to SolarCity’s services: Coventry, Cranston, Cumberland, East Providence, Johnston, North Providence, South Kingstown, Warwick, West Warwick and Woonsocket. Residents outside of the initial service area can sign up to be alerted as soon as service is accessible to their homes. Rhode Island is the 18th state where SolarCity offers service and the fourth in New England, joining Connecticut, Massachusetts and New Hampshire.
SolarCity Corporation designs, manufactures, installs, maintains, monitors, leases, and sells solar energy systems to residential, commercial, government, and other customers in the United States. It offers solar energy systems; solar lease and power purchase agreement finance products; mounting hardware for photovoltaic panels; and related software, in addition to develops a proprietary battery administration system, which is designed to enable remote, bidirectional control of distributed energy storage that can provide benefits to customers, utilities, and grid operators.
Sanofi SA (ADR) (NYSE:SNY), ended its Monday’s trading session with -0.14% loss, and closed at $49.50.
Sanofi SA (ADR) (SNY) declared positive results from the phase III extension studies (EDITION JP 1 and EDITION JP 2) on its basal insulin, Toujeo, which was conducted on Japanese patients with uncontrolled diabetes. Data were presented at the American Diabetes Association.
In the extension studies, Japanese patients (with type I and type II diabetes) were treated with Toujeo or Lantus over a period of 12 months. Results demonstrated that throughout the course of the study, Toujeo maintained similar blood sugar control, with fewer people experiencing night-time low blood sugar events when contrast to Lantus. While 21% fewer patients with type I diabetes (EDITION JP 1) practiced blood sugar levels of <= 54 mg/dL, 27% fewer patients with type II diabetes (EDITION JP 2) showed blood sugar levels of <= 70 mg/dL as contrast to Lantus.
Sanofi’s diabetes franchise is under noteworthy pressure with Lantus facing increasing competitive pressure at the payor level. In addition to this, Lantus is likely to face biosimilar competition in the EU in 2015.
Meanwhile, Sanofi is working on converting the majority of patients in the U.S. and Europe from Lantus to Toujeo. Though the diabetes franchise recorded global sales of €7.3 billion in 2014 (up 12.1%), the company anticipates revenues from the segment to remain flat or grow slightly between 2015 and 2018.
Sanofi researches, develops, and markets various therapeutic solutions. Its products comprise diabetes solutions, counting Lantus, Apidra, and Insuman that are human insulin analogs; Amaryl, an oral sulfonylurea; Lyxumia, a glucagon-like peptide-1 receptor agonist; and Afrezza, an inhaled insulin to improve glycemic control, in addition to Toujeo, an insulin glargine.
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