On Thursday, U.S. stocks opened somewhat higher, in the wake of two days of declines on the S&P 500, after higher-than-expected preliminary jobless claims figures and ahead of a report on factory orders.
Insights about U.S. Stocks that are active during the current trade, are depicted underneath:
AbbVie Inc (NYSE:ABBV)’s shares declined -2.75%, and is now trading at $58.61. The Stock is active as 19.63M shares changed hands versus its average volume of 11.75M shares.
AbbVie Inc., formerly on February 26, declared that 15 abstracts of studies in its neuroscience and oncology development programs have been accepted for presentation during the 67th American Academy of Neurology annual meeting in Washington, D.C., from April 18-25. The accepted abstracts feature results from studies evaluating AbbVie’s FDA-approved product, DUOPA, in addition to investigational treatments in AbbVie’s pipeline. Presentations will comprise Phase 1 results from a study of ABT-414 in patients with glioblastoma multiforme, Phase 3 data for ZINBRYTA™ (daclizumab high-yield process), which is being developed jointly with Biogen Idec, in relapsing remitting multiple sclerosis, and results from a study of DUOPA (carbidopa and levodopa) enteral suspension in advanced Parkinson’s disease.
“The data to be presented at AAN demonstrate the depth and breadth of AbbVie’s ongoing commitment to research innovative ways to address devastating neurodegenerative diseases like multiple sclerosis, in addition to primary brain cancers,” said Michael Severino, M.D., executive vice president, research and development and chief scientific officer, AbbVie. “Our rapidly advancing oncology and neuroscience research is an important part of AbbVie’s dedication to developing therapies that have the potential to provide a remarkable influence on patients’ lives.”
AbbVie is a global, research-based biopharmaceutical corporation formed in 2013 following separation from Abbott Laboratories. The corporation’s mission is to use its expertise, dedicated people and unique approach to innovation to develop and market advanced therapies that address some of the world’s most complex and serious diseases.
Bank of America Corp (NYSE:BAC), raised 0.76%, and is now trading at $15.96. The Stock is active as 10.96M shares changed hands versus its average volume of 98.37M shares.
Today, Bank of America Merrill Lynch Community Development Banking provided more than $3.2 billion in loans, tax credit equity investments and other real estate development solutions to over 550 clients in 2014, creating more than 13,000 housing units for individuals, families, seniors, students, veterans and other at-risk groups across the country.
This effort included:
- A range of innovative financial solutions for developments, many of which incorporate green and transit-oriented elements.
- Nearly $2 billion in commercial real estate-based lending.
- More than $1.1 billion in tax credit investments.
- More than 140,000 affordable housing units over the past 10 years.
“There is a tremendous need for affordable housing and neighborhood revitalization across the U.S.,” said Maria Barry, BofA Merrill Community Development Banking executive. “For 30 years, Bank of America Merrill Lynch has been a leader in creating healthy and sustainable communities through a team of highly practiced real estate experts who specialize in community development financing through a variety of innovative debt and equity solutions.”
Bank of America is one of the world’s largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset administration and other financial and risk administration products and services.
Pharmacyclics, Inc (NASDAQ:PCYC), enhanced 10.48%, and is now trading at $254.65, hitting new 52-week high of $255.52. The Stock is active as 8.87M shares changed hands versus its average volume of 1.47M. The company holds the book value per share of 10.95, whereas cash per share is 11.27. Price to book value is estimated to be 21.05, while price to sale value is 24.01. Analysts mean recommendation for the stock is said to be 2.20 (where 1=Buy, 5=sale).
Shares of Pharmacyclics, Inc. surged more than 10% on Thursday after AbbVie, declared plans to attain the maker of leukemia drugs for $21 billion.
AbbVie is paying a 13.4% premium over Pharmacyclics’ closing price on Wednesday and 39% above its closing price on Feb. 24 — before it was stated that the Sunnyvale, Calif.-based corporation could be an attainment target. Pharmacylics’ shareholders will receive $261.25 per share through a choice of cash, stock or a combination of both. The transaction is predictable to be accomplished in mid-2015.
Pharmacylics is the maker of Imbruvica, its flagship product which has been approved to treat two different types of blood cancer.
Pharmacyclics, Inc., a biopharmaceutical corporation, focuses on developing and commercializing novel therapies for the treatment of cancer and immune-mediated diseases in the United States.
Apple Inc (NASDAQ:AAPL), dropped -0.98%, and is now trading at $127.33. The Stock is active as 9.05M shares changed hands versus its average volume of 62.29M shares.
Late Wednesday, Apple Inc., declared that it is pushing back the start of production for its larger 12.9-inch iPad, according to Bloomberg. Now, Apple is saying production is more likely to start in September, due to supply issues with the larger display panels.
The U.S. tech giant is also playing around with new designs and features for the enterprise market, the Wall Street Journal reports.
Apple Inc. designs, manufactures, and markets mobile communication and media devices, personal computers, and portable digital music players worldwide.
