On Tuesday, Shares of General Motors Company (NYSE:GM), lost -1.87% to $27.30.
General Motors Co., said that Fitch Ratings has raised the credit ratings of both GM and GM Financial to investment grade. With this upgrade, the corporate credit ratings for GM are now investment grade with all major rating agencies.
“Fitch’s news recently confirms that we are delivering on our commitment to generate strong operating results and implement our customer-focused strategy,” GM CEO Mary Barra said. “But, as much as we like this recognition, we are focused on achieving even stronger performance and enhancing long-term shareholder value in the years to come.”
The new GM corporate and GM Financial credit ratings assigned by Fitch are BBB- with a “stable” outlook. Each credit rating is one level higher than the previous GM and GM Financial ratings of BB+, which were assigned by Fitch in August 2012 and August 2013, respectively.
General Motors Company designs, builds, and sells cars, crossovers, trucks, and automobile parts worldwide. It operates through GM North America, GM Europe, GM International Operations, GM South America, and GM Financial segments. The company markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Opel, Holden, and Vauxhall brand names, in addition to under the Alpheon, Baojun, Jiefang, and Wuling brand names.
Shares of Mylan NV (NASDAQ:MYL), declined -1.41% to $49.11, during its last trading session.
Mylan N.V., declared that the U.S. Patent and Trademark Office (PTO) has instituted inter partes review (IPR) proceedings against two Copaxone® 40 mg/mL patents, U.S. Patent Nos. 8,232,250 and 8,399,413, owned by Yeda Research & Development Co., Ltd. and licensed to Teva Pharmaceuticals Industries Ltd. The patents relate to methods for the treatment of multiple sclerosis through the administration of at least three 40 mg subcutaneous injections of glatiramer acetate over a period of seven days with at least one day between each injection. Mylan also has filed another petition for inter partes review of a related patent (U.S. Patent No. 8,969,302), which the PTO is predictable to act upon shortly.
Mylan CEO Heather Bresch commented, “We believe that the patents at question are invalid and are happy that, in instituting an inter partes review on all claims, the PTO has determined that there is a reasonable likelihood of prevailing on the invalidity assertion. We believe our generic version of Copaxone 40mg/mL represents an exciting first-to-file opportunity for Mylan.”
In August 2014, the U.S. Food and Drug Administration accepted Mylan’s abbreviated new drug application (ANDA) filing for a three times per week Glatiramer Acetate Injection 40 mg/mL, the generic version of Copaxone 40 mg/mL Mylan believes it is one of the first companies to have filed a substantially complete ANDA containing a Paragraph IV certification for this product and anticipates to be eligible for 180 days of marketing exclusivity in the U.S. upon final FDA approval.
Copaxone 40 mg/mL had U.S. sales of about $2.6 billion for the 12 months ending June 30, 2015, according to IMS Health.
Mylan N.V., through its auxiliaries, develops, licenses, manufactures, markets, and distributes generic, branded generic, and specialty pharmaceuticals worldwide. The company provides generic or branded generic pharmaceutical products in tablet, capsule, injectable, or transdermal patch forms, in addition to active pharmaceutical ingredients (APIs).
Finally, Hawaiian Electric Industries, Inc. (NYSE:HE), ended its last trade with -0.03% loss, and closed at $28.60.
Hawaiian Electric Industries, stated merged net income for common stock for the second quarter of 2015 of $35.0 million, or diluted earnings per share (EPS) of $0.33. Not taking into account $7.2 million after-tax of merger-related costs associated with the pending merger with NextEra Energy, Inc. and the spin-off of ASB Hawaii, core earnings1 for the second quarter of 2015 were $42.2 million or $0.39 EPS, contrast to $41.3 million or $0.41 EPS for the second quarter of 2014.
“Our utility continued to invest in modernizing and improving the electric grids on the five islands we serve to support the integration of more renewable energy, improve customer service and maintain system stability. We remain focused on further reducing costs for our customers while providing safe, reliable and ever cleaner electricity,” said Constance Lau, HEI president and chief executive officer.
Hawaiian Electric Industries, Inc., through its auxiliaries, engages in the electric utility and banking businesses primarily in the State of Hawaii. The company is involved in the production, purchase, transmission, distribution, and sale of electricity.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
