On Thursday, Shares of American International Group Inc (NYSE:AIG), lost - 1.31% to $60.13.
American International Group, declared that its Board of Directors has authorized the repurchase of additional shares of AIG Common Stock with an aggregate purchase price of up to $3.0 billion. As of December 15, 2015, AIG has repurchased about $9.7 billion of shares of AIG Common Stock year to date, following prior authorizations from the Board of Directors. AIG’s aggregate remaining share repurchase authorization, inclusive of recently’s declared $3.0 billion authorization, is about $4.3 billion. Repurchases may be made from time to time in the open market, private purchases, through forward, derivative, accelerated repurchase or automatic repurchase transactions, or otherwise.
“This additional authorization will enable AIG to continue returning excess capital to shareholders, while finalizing authorization plans for 2016,” said Douglas M. Steenland, Chairman of the Board of Directors of AIG. “The timely return of excess capital to shareholders is one of AIG’s planned priorities.”
Certain statements in this press release constitute forward-looking statements. These statements are not historical facts but instead represent only AIG’s belief regarding future events, many of which, by their nature, are inherently uncertain and outside AIG’s control. It is possible that actual results will differ, possibly materially, from the anticipated results indicated in these statements. Factors that could cause actual results to differ, possibly materially, from those in the forward-looking statements are talked about throughout AIG’s periodic filings with the SEC following the Securities Exchange Act of 1934.
American International Group, Inc. provides insurance products and services for commercial, institutional, and individual customers in the United States, the Asia Pacific, and internationally. The company’s Commercial Insurance segment offers general liability, commercial automobile liability, workers’ compensation, excess casualty, and crisis administration causality insurance products; commercial, industrial, and energy-related property insurance products; aerospace, environmental, political risk, trade credit, surety, and marine insurance products, in addition to various insurance products for small and medium sized enterprises; and professional liability insurance products for a range of businesses and risks.
Shares of Can Fite Biopharma Ltd (ADR) (NYSEMKT:CANF), inclined 1.34% to $3.03, during its last trading session.
Can-Fite BioPharma Ltd., declared that the Japan Patent Office has granted the Company a patent for its lead drug candidate CF101 for the reduction of intraocular pressure (IOP) in a patent titled, “A3 adenosine receptor agonists for the reduction of intraocular pressure.” CF101 is an A3 adenosine receptor (A3AR) agonist that binds to A3AR, which is known to be over-expressed in inflammatory cells. Can-Fite has been granted a similar patent in the U.S. for IOP and has pending applications in other key global markets.
Can-Fite’s partner OphthaliX (OPLI) is presently conducting a Phase II trial of CF101 for the treatment of glaucoma in Europe and Israel. Patient enrollment has been accomplished and top line results are predictable in mid-2016.
Raised pressure in the eye, or IOP, is a leading cause of glaucoma, which can damage the optic nerve and cause vision loss. While most glaucoma drugs presently on the market are generic eye drops, CF101 is one of only a few oral drugs in development for the treatment of this disease. An estimated 3 million Americans have glaucoma. The treatment market for glaucoma in the seven major markets was estimated to be $2.4 billion in 2013 and is estimated to reach about $3 billion by 2023 according to GlobalData.
Can-Fite BioPharma Ltd., a clinical-stage biopharmaceutical company, develops small molecule therapeutic products for the treatment of autoimmune-inflammatory, oncological, and ophthalmic diseases. It offers CF101, which has accomplished Phase II/III clinical trials for the treatment of psoriasis; accomplished Phase II clinical trials for the treatment of rheumatoid arthritis; accomplished Phase I clinical study for the treatment of osteoarthritis; and accomplished Phase I study for the treatment of uveitis, in addition to is in Phase II clinical trials for the treatment of glaucoma or related syndromes of ocular hypertension.
Finally, First Niagara Financial Group Inc. (NASDAQ:FNFG), ended its last trade with - 1.65% loss, and closed at $10.71.
KeyBank, a wholly owned partner of KeyCorp (KEY), declared that it plans to keep mortgage operations in Buffalo, N.Y., and that it will leverage and expand First Niagara Bank’s mortgage capabilities upon completion of First Niagara’s merger into Key. Although it is too soon to know exactly how many jobs the Buffalo-based mortgage operations will entail, it is anticipated that initially about 300 employees will be needed to ensure all functions are covered.
KeyCorp and First Niagara Financial Group (FNFG) declared on Oct. 30, 2015, a contract for Key to purchase the Buffalo, N.Y.-headquartered bank, subject to shareholder and regulatory approvals. Key had recently declared a plan to bring its presently outsourced mortgage fulfillment operations into the organization, the scope of the project will now leverage First Niagara’s servicing platform systems and expertise after the merger occurs.
Presently, mortgage origination — application and product determination — is handled by KeyBank Mortgage loan officers located throughout KeyBank’s 12-state footprint in addition to through a centralized tele-mortgage team, while underwriting, fulfillment and portfolio administration functions are managed and serviced by an outsourced provider, PHH Mortgage.
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