On Friday, Shares of F.N.B. Corp (NYSE:FNB), gained 1.14% to $13.31.
F.N.B. Corporation declared that the Office of the Comptroller of the Currency has approved the purchase and assumption application by F.N.B.’s largest associate, First National Bank of Pennsylvania, to acquire five branch offices from Bank of America, N.A. which comprise two branches in Berks County, two branches in Lancaster County and one branch in Chester County. There are no additional regulatory approvals needed to complete the transaction.
The transaction is planned to close on September 18, 2015.
F.N.B. Corporation, a financial holding company, provides various financial services to consumers, corporations, governments, and small- to medium-sized businesses primarily in Pennsylvania, eastern Ohio, and northern West Virginia.
Shares of Cimarex Energy Co (NYSE:XEC), inclined 0.86% to $116.34, during its last trading session.
Cimarex Energy Co., stated a second quarter 2015 net loss of $600.2 million, or $6.47 per diluted share, counting a non-cash impairment of oil and gas properties. The adjusted second quarter net income was $14.4 million, or $0.15 per diluted share. Second quarter 2015 adjusted cash flow from operations was $252.4 million as compared to $443.1 million a year ago.
Total company production averaged 1.0 billion cubic feet equivalent (Bcfe) per day during the second quarter, a 22 percent enhance from second quarter 2014. Year-over-year natural gas volumes raised 14 percent, oil volumes grew 35 percent, and NGL volumes were up 25 percent.
Commodity prices influenced Cimarex’s financial results for the quarter. Realized oil prices averaged $50.66 per barrel, down 46 percent as compared to a year ago but up 19 percent sequentially. Natural gas prices were down 46 percent year-over-year and averaged $2.51 per Mcf contrast to $4.62 per Mcf. NGL prices averaged $14.67 per barrel, down 59 percent from the second quarter of 2014 and seven percent sequentially.
Cimarex invested $190 million in exploration and development during the second quarter, which was funded with cash flow from operations. Total debt at June 30, 2015, remained at $1.5 billion of long-term notes. Cimarex had no borrowings under its revolving credit facility and a cash balance of $857 million. Debt was 26 percent of total capitalization.
Cimarex Energy Co. operates as an independent oil and gas exploration and production company primarily in Texas, Oklahoma, and New Mexico. The company owns interests in 3,240 net productive oil and gas wells.
At the end of Friday’s trade, Shares of Eagle Pharmaceuticals Inc (NASDAQ:EGRX), lost -8.32% to $66.70.
Eagle Pharmaceuticals, declared that the 505(b)(2) New Drug Application (NDA) for its novel ready-to-use bivalirudin product (“RTU bivalirudin”) has been accepted for filing by the U.S. Food and Drug Administration (FDA).
This 505(b)(2) NDA requests FDA approval of Eagle’s RTU bivalirudin product for the treatment of patients: (1) undergoing percutaneous coronary intervention (PCI) with use of glycoprotein IIb/IIIa inhibitor, (2) undergoing PCI with, or at risk of, heparin-induced thrombocytopenia and thrombosis syndrome, or (3) with unstable angina undergoing percutaneous transluminal coronary angioplasty (PTCA).
“We look forward to the FDA’s decision on this NDA in March 2016 and, if approved, intend to launch our RTU bivalirudin product the following day,” said Scott Tarriff, President, and Chief Executive Officer of Eagle Pharmaceuticals. “We expect our RTU liquid formulation will be well received due to its multiple differentiating features. We look forward to ongoing to work closely with the FDA through the review process.”
Eagle’s RTU bivalirudin product, which contains the same active ingredient as Angiomax, is administered as an IV solution at the same dose and rate. Eagle’s liquid formulation will allow for immediate administration, with no reconstitution nor initial dilution required, reducing work flow and the risk of dosing errors.
Eagle Pharmaceuticals, Inc., a specialty pharmaceutical company, focuses on developing and commercializing injectable products primarily in the critical care and oncology areas in the United States.
Finally, Forest City Enterprises, Inc. (NYSE:FCE.A), ended its last trade with -0.60% loss, and closed at $23.05.
Forest City Enterprises, declared that Nets Sports & Entertainment (NS&E) and Onexim have agreed to extend a forbearance agreement related to payment of capital calls and related fees for the Brooklyn Nets, through September 8. The agreement was originally set to expire August 12.
NS&E is the merged partner through which Forest City holds its ownership interests in the Nets and the Barclays Center arena. NS&E owns 20 percent of the Nets and 55 percent of Barclays Center. Forest City, in turn, owns about 62 percent of NS&E with the balance owned by minority partners.
Forest City Enterprises, Inc. acquires, owns, develops, and manages commercial and residential real estate and land in the United States. The company’s Commercial group acquires, owns, develops, and operates regional malls, specialty/urban retail centers, office and life science buildings, and mixed-use projects, in addition to operates Barclays Center, a sports and entertainment arena located in Brooklyn, New York.
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