On Friday, Shares of Assured Guaranty Ltd. (NYSE:AGO), gained 1.33% to $25.16.
In a June 29 rating report on Assured Guaranty Ltd. (AGO) and its operating auxiliaries (collectively, Assured Guaranty), Standard & Poor’s Ratings Services (S&P) affirmed the AA Stable Outlook financial strength ratings of U.S. bond insurers Assured Guaranty Municipal Corp. (AGM), Municipal Assurance Corp. (MAC) and Assured Guaranty Corp. (AGC); European financial guarantor Assured Guaranty (Europe) Ltd. (AGE); and reinsurer Assured Guaranty Re Ltd. (AG Re). The AA rating is the highest S&P presently assigns to any financial guarantor.
In the report, S&P noted Assured Guaranty’s:
- Very strong capital adequacy
- Strong competitive position, built on a proven track record of credit discipline and market leadership
- Strong operating performance as a result, in part, of the long-term earnings power of the U.S. public finance business
- Strong liquidity, with conservative investment strategy
- Strong, well-diversified underwriting strategy, with a global footprint and low country risk
- Strong enterprise risk administration
- Strong understanding of the various risks the company faces by an practiced administration team
Assured Guaranty Ltd., through its auxiliaries, provides credit protection products to public finance, infrastructure, and structured finance markets in the United States and internationally. It offers financial guaranty insurance that protects holders of debt instruments and other monetary obligations from defaults in planned payments.
Shares of Zogenix, Inc. (NASDAQ:ZGNX), inclined 14.75% to $15.17, during its last trading session.
Zogenix, declared that it will host a Key Opinion Leader breakfast focused on Dravet syndrome, counting an overview of ZX008, the Company’s investigational proprietary pediatric formulation of low-dose fenfluramine, which is designated as an orphan drug for the treatment of Dravet syndrome in both the U.S. and Europe. Dravet syndrome is a rare and catastrophic form of intractable epilepsy that starts in infancy. The event and live webcast will take place on Tuesday, July 14 from 8 am-9:30 am Eastern Time in New York City.
The meeting will feature keynote presentations by key opinion leaders, Lieven Lagae, M.D., Ph.D., Professor at the University of Leuven, Belgium (KUL), Head of the Paediatric Neurology Department of the KUL University Hospitals and Director of the Childhood Epilepsy Program at the KUL University Hospitals, and Joseph Sullivan, M.D., Associate Professor of Neurology and Pediatrics at the University of California - San Francisco (UCSF) and Director of the UCSF Pediatric Epilepsy Center. Members of the Zogenix executive administration team will also provide an overview of the Company’s operations and ongoing clinical development work with ZX008, for which Zogenix intends to initiate Phase 3 clinical studies during the fourth quarter of 2015. Drs. Lagae and Sullivan, in addition to members of the Zogenix executive administration team, will also be accessible for Q&A following the presentations.
Zogenix, Inc., a pharmaceutical company, develops and commercializes therapies for the treatment of central nervous system disorders in the United States. Its marketed product comprises Zohydro ER, an extended-release formulation of hydrocodone for the treatment of severe chronic pain.
At the end of Friday’s trade, Shares of Franklin Electric Co. (NASDAQ:FELE), lost -3.10% to $30.04.
Franklin Electric, revised its formerly issued earnings guidance for the second quarter ended July 4, 2015.
For the second quarter, the Company anticipates adjusted earnings per share to be about $0.35 as compared to the formerly issued guidance on April 28, 2015 of $0.54 to $0.58, as a result of significantly lower sales. Second quarter revenues were about $37 million below the second quarter 2014, and guidance, with the vast majority of the decline occurring during May and June.
Franklin Electric Co., Inc., together with its auxiliaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in two segments, Water Systems and Fueling Systems.
Finally, Steel Dynamics, Inc. (NASDAQ:STLD), ended its last trade with 1.26% gain, and close at $19.62.
Steel Dynamics, declared it intends to release second quarter 2015 financial results after market close on Monday, July 20, 2015. The teleconference is planned to start at 10:00 a.m. Eastern Time on Tuesday, July 21, 2015 and will be hosted by Mark Millett, President and CEO; and Theresa Wagler, Executive Vice President and CFO.
Steel Dynamics, Inc., together with its auxiliaries, manufactures and sells steel products, processes and sells recycled ferrous and nonferrous metals, and fabricates and sells steel joist and decking products in the United States and internationally.
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