On Friday, Shares of Wells Fargo & Co (NYSE:WFC), gained 1.88% to $51.50.
AmTrust Financial Services, Inc. (AFSI) recently declared the completion of the acquisition of Warranty Solutions(R) a Wells Fargo business (“Warranty Solutions”) from Wells Fargo & Company (WFC) for about $158 million in cash. The transaction is predictable to be right away accretive.
Warranty Solutions designs, markets, administers and underwrites vehicle service contracts for new and used automobiles through a national network of more than 70 active agencies, and 1,500 franchised and independent dealers.
“We are excited to welcome the employees, agents and customers of Warranty Solutions to the AmTrust family of companies,” said AmTrust Financial Services, Inc. President and CEO, Barry Zyskind. “The addition of Warranty Solutions’ strong reputation and extensive market presence should profitably add to our already successful vehicle extended warranty business.”
Wells Fargo & Company is a financial and bank holding company. Its principal business is to act as a holding company for its subsidiaries. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking and Wealth, and Brokerage and Retirement. The Company provides retail, commercial and corporate banking services through banking stores and offices, the Internet and other distribution channels to individuals, businesses and institutions in all around 50 states, the District of Columbia and in other countries.
Shares of Peabody Energy Corporation (NYSE:BTU), declined -14.18% to $1.21, during its last trading session, after natural gas beat coal’s market share of U.S. energy’s source for the fourth successive month in July.
About 35% of the U.S.’s electricity came from natural gas plants, surpassing 34.88% that came from coal-powered plants, according to the Energy Information Administration, Bloomberg reports.
In April, gas beat coal for the first time with a 31.5% share of U.S. electricity production.
Peabody Energy Corporation is a coal company. The Company has five segments: Western United States Mining, Midwestern United States Mining, Australian Mining, Trading and Brokerage, and Corporate and other. Western United States Mining and Midwestern United States segments are engaged in the mining, preparation and sale of thermal coal, which is typically supplied to United States electricity generators and industrial customers for power generation, with a portion sold into seaborne export markets.
Shares of Exelixis, Inc. (NASDAQ:EXEL), declined -4.68% to $5.91, during its last trading session.
Exelixis, declared positive results from METEOR, the phase 3 pivotal trial comparing cabozantinib to everolimus in 658 patients with renal cell carcinoma (RCC) who have practiced disease progression following treatment with a VEGF receptor tyrosine kinase inhibitor (TKI). In July 2015, Exelixis revealed that the trial met its primary endpoint, demonstrating a statistically noteworthy improvement in progression-free survival for patients in the cabozantinib arm. Principal investigator Toni K. Choueiri, M.D. will present detailed data from the late-breaking METEOR abstract (#4-LBA) on Saturday, September 26, during the Presidential Session I at the European Cancer Congress (ECC) 2015, which is being held September 25-29 in Vienna. The METEOR data and an accompanying editorial were also published recently in The New England Journal of Medicine.
As declared in July, the METEOR trial met its primary endpoint of demonstrating a statistically noteworthy improvement in progression-free survival (PFS) for cabozantinib as contrast to everolimus, as determined by an independent radiology committee. Per the trial protocol, the primary analysis was conducted among the first 375 patients randomized to ensure sufficient follow up and a PFS profile that would not be primarily weighted toward early events. The median PFS was 7.4 months for the cabozantinib arm as compared to 3.8 months for the everolimus arm, corresponding to a 42% reduction in the rate of disease progression or death for cabozantinib as contrast to the everolimus arm (hazard ratio [HR]=0.58, 95% confidence interval [CI] 0.45-0.75, p<0.001). Cabozantinib effects were favorable across patient stratification subgroups counting the number of prior VEGF receptor TKI therapies and commonly applied RCC risk criteria developed by Motzer et al.
Exelixis Inc. is a biopharmaceutical company. The Company is engaged in developing small molecule therapies for the treatment of cancer. The Company is focusing on resources development and commercialization of COMETRIQ (cabozantinib) for the treatment of progressive, metastatic medullary thyroid cancer (MTC) in the United States.
Finally, Southwest Airlines Co (NYSE:LUV), ended its last trade with -0.21% loss, and closed at $38.09.
At a meeting, the Board of Directors of Southwest Airlines designated Dr. Thomas W. Gilligan as a member of the Board. Dr. Gilligan presently serves as the Tad and Dianne Taube Director of the Hoover Institution on War, Revolution and Peace at Stanford University, a position he has held since Sept. 2015. The Hoover Institution is a public policy research center devoted to the advanced study of economics, politics, history, and political economy in addition to international affairs.
“Tom is a special person with a brilliant mind and a passion for serving others who will be an invaluable addition to our Board of Directors,” said Gary Kelly, Chairman of the Board, President, and Chief Executive Officer for Southwest Airlines. “Tom brings with him a wealth of knowledge, experience, and leadership in finance, economics, and business administration that will benefit our Board and our Company. We’re thrilled to welcome him onboard.”
Before his appointment at the Hoover Institution, Dr. Gilligan served as the Dean of the McCombs School of Business at The University of Texas at Austin from 2008 to Aug. 2015, where he also held the Centennial Chair in Business Education Leadership.
Southwest Airlines Co. operates Southwest Airlines (Southwest). Southwest is a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company serves around 93 destinations in 40 states and runs international services to Montego Bay, Nassau, Oranjestad, Cabo San Lucas/Los Cabos, Cancun, Mexico City and Punta Cana. It serves around 17 non-stop destinations and 581 non-stop city pairs.
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