On Tuesday, Shares of Apache Corporation (NYSE:APA), lost -1.54% to $49.71.
Apache Corporation, is hosting a webcast with analysts and investors to provide an update on the company’s North Sea operations, recent drilling success and views on the future potential of its portfolio in the region.
“Recently we will highlight the uniqueness of Apache’s global portfolio and our North Sea assets in particular. We believe our performance and outlook reflect a truly differentiated opportunity that will provide noteworthy value accretion in the coming years. With our financial position and our asset portfolio now in excellent shape, our strategy over the next five years is to focus on growing North America with the support of noteworthy free cash flow generated by our Egypt and North Sea operations. At the same time, we believe that our international regions, and the North Sea in particular, have noteworthy upside potential that will create value for Apache shareholders beyond its near-term free-cash-flow-generation potential,” said John J. Christmann, IV, Apache’s chief executive officer and president.
Apache Corporation, an independent energy company, explores, develops, and produces natural gas, crude oil, and natural gas liquids. It operates onshore and offshore assets primarily in the Permian Basin, the Anadarko basin in western Oklahoma, and the Texas Panhandle, Gulf Coast areas of the United States, in addition to in Western Canada.
Shares of Textron Inc. (NYSE:TXT), declined -1.53% to $41.79, during its last trading session.
Northrop Grumman Corporation (NOC) has been selected to provide flight-critical inertial instruments on the new Cessna Citation Longitude super-midsize jet.
Northrop Grumman’s LCR-100 attitude and heading reference system, in addition to the LCR-100N hybrid navigation unit, have been chosen by Cessna Aircraft Company — a partner of Textron Aviation Inc., a Textron Inc. (TXT) company — as the standard option inertial products for this advanced platform. This equipment provides critical navigation data to the autopilot and other key systems which assist achieve required availability, precision and integrity.
Developed by Northrop Grumman’s Germany-based navigation systems partner, Northrop Grumman LITEF, the LCR-100 and LCR-100N comprise of high-performance, fibre-optic gyroscope based inertial measurement units and advanced micro electromechanical system triad accelerometers.
The units feature gyro-compassing and hybrid navigation with coasting capability, counting ARINC outputs, which are essential for precise Required Navigation Performance (RNP) and RNP with approach authorization-required flight operations.
Textron Inc. operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial, and Finance. The Textron Aviation segment manufactures business jets, turboprop aircraft, piston aircraft, military trainer and defense aircraft, and parts, in addition to provides maintenance, inspection, and repair services.
Finally, Shares of Array Biopharma Inc (NASDAQ:ARRY), ended its last trade with -0.94% loss, and closed at $4.22.
Array Bio Pharma and Pierre Fabre, declared a partnership to globally develop and commercialize Array’s late-stage novel oncology products, binimetinib and encorafenib. Binimetinib, a MEK inhibitor, and encorafenib, a BRAF inhibitor, are presently advancing in three, global Phase 3 trials for melanoma and ovarian cancer. Top-line results from NEMO, a Phase 3 study of binimetinib in patients with NRAS-mutant melanoma, are anticipated before the end of 2015. Array plans to host a conference call on November 16, 2015 at 9:00 am ET to discuss the collaboration.
Under the terms of the agreement, Array will receive an upfront payment of $30 million and retains exclusive commercialization rights for binimetinib and encorafenib in the United States, Canada, Japan, Korea and Israel. Pierre Fabre will have exclusive rights to commercialize both products in all other countries, counting Europe, Asia and Latin America. Array is entitled to receive up to $425 million if certain development and commercialization milestones are achieved, and is eligible for robust, tiered double-digit royalties. Array and Pierre Fabre have agreed to split future development costs on a 60:40 basis (Array:Pierre Fabre) with initial funding committed for new clinical trials in colorectal cancer and melanoma. All ongoing binimetinib and encorafenib clinical trials remain substantially funded through completion by Novartis.
Pierre Fabre Oncology, a business unit of the global 10,000-employee Pierre Fabre company, is supported by over 1,000 employees with a strong focus on European markets. In 2014, worldwide annual sales of Pierre Fabre Oncology products surpassed $200 million on the strength of the Oral Navelbine, Javlor and Busilvex brands. In addition, Pierre Fabre has a noteworthycommitment and track record in pharmaceutical R&D, developing products for patients afflicted with lung, breast and other solid tumors and hematological cancers.
Array BioPharma Inc., a biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule drugs to treat patients with cancer in North America, Europe, and the Asia Pacific.