On Tuesday, Shares of Pfizer Inc. (NYSE:PFE), lost -0.20% to $34.49.
Pfizer, declared study results demonstrating palbociclib in combination with fulvestrant was superior to treatment with a standard of care, fulvestrant, by significantly extending progression-free survival (PFS) in women with hormone receptor-positive (HR+), human epidermal growth factor receptor 2-negative (HER2-) metastatic breast cancer whose disease has progressed during or after endocrine therapy (HR 0.42, median PFS, 9.2 vs. 3.8 months, in their respective arms, p<0.000001). Results from the Phase 3 PALOMA-3 study will be featured recently in a press briefing during the 51st Annual Meeting of the American Society of Clinical Oncology (ASCO) and will be presented as a late-breaker on Monday, June 1 at 8:00 a.m. CDT (Abstract #LBA502). The results will also be simultaneously published online by The New England Journal of Medicine. The Principal Investigator for the study, Nicholas C. Turner, MD, PhD, consultant medical oncologist at The Royal Marsden and Institute of Cancer Research in London, United Kingdom, will present these data.
“The current treatment options accessible for patients with this type of metastatic breast cancer present challenges for physicians and patients, as demonstrated by the limited clinical benefit of additional lines of endocrine therapy, and by the difficult side effects of chemotherapy,” said Dr. Turner. “The PALOMA-3 results demonstrate that palbociclib in combination with fulvestrant more than doubled the time before disease progression contrast to fulvestrant alone, and suggest that palbociclib could be a promising treatment option for women with HR+, HER2- metastatic breast cancer after progression on endocrine therapy.”
“The results of PALOMA-3 are compelling and provide evidence that could potentially expand the role of palbociclib as an innovative first-in-class therapy for patients with metastatic breast cancer,” said Dr. Mace Rothenberg, senior vice president of Clinical Development and Medical Affairs and chief medical officer for Pfizer Oncology.
Pfizer Inc., a biopharmaceutical company, discovers, develops, manufactures, and sells healthcare products worldwide. The company operates through Global Innovative Pharmaceutical (GIP); Global Vaccines, Oncology and Consumer Healthcare (VOC); and Global Established Pharmaceutical (GEP) segments.
Shares of American International Group, Inc. (NYSE:AIG), inclined 1.70% to $59.68, during its last trading session.
American International Group Inc. rose in New York trading on its plan for selling AerCap Holdings NV stock in a public offering, which will free up capital that could be used for share buybacks, according to Bloomberg.
AIG Chief Executive Officer Peter Hancock has been repurchasing his company’s stock and redeeming high-cost debt as he works to boost return on equity. The New York-based insurer said April 30 that it would buy back $3.5 billion in stock after first-quarter profit climbed 53 percent on gains at the unit selling property and casualty coverage to commercial clients.
“We view this as another step forward on the capital-administration front,” Randy Binner, an analyst at FBR Capital Markets, said of AIG’s plan for AerCap in a note to clients. Bloomberg Reports.
American International Group, Inc. provides insurance products and services for commercial, institutional, and individual customers in the United States, the Asia Pacific, and internationally.
At the end of Tuesday’s trade, Shares of NetApp, Inc. (NASDAQ:NTAP), gained 0.54% to $33.33.
In today’s business environment, traditional backup is slow, risky, expensive, and complex. Users expect instant recovery and minimal data loss, but IT struggles to keep pace using legacy backup and recovery strategies. To meet these demands, recently NetApp, Inc. (NASDAQ: NTAP) introduced NetApp® AltaVault®, formerly SteelStore, cloud-integrated storage solutions and services, which will provide customers with the ability to quickly backup data to any cloud at up to 90 percent less cost than on-premises solutions.
The enterprise backup storage footprint is growing, yet budgets and acquisition costs remain flat and bandwidth costs and constraints become more acute with larger datasets. Adding to these challenges, many organizations still rely on tape, increasing the risk of lost media in transport and leading to raised downtime, data loss and the inability to adequately test disaster recovery procedures.
NetApp, Inc. is engaged in design, manufacture, and marketing of networked storage solutions. The company provides storage and data administration software, systems, and services. It offers Data ONTAP storage operating system that delivers integrated data protection, comprehensive data administration, and built-in efficiency software for virtualized, shared infrastructures, cloud computing, and mixed workload business applications; storage efficiency technologies.
Finally, Conns Inc. (NASDAQ:CONN), ended its last trade with 7.12% surge, and closed at $38.07.
Conn’s, declared its financial results for the first quarter ended April 30, 2015.
Financial Results
First-quarter fiscal 2016 noteworthy items comprised of (on a year-over-year basis unless noted):
- Merged revenues raised 8.8% to $365.1 million due to new store openings, partially offset by a decrease in same store sales of 4.3%, in addition to an enhance in credit revenue from growth in the average balance of the customer receivable portfolio, partially offset by a 100 basis point decrease in portfolio yield;
- Retail gross margin reduced 10 basis points to 41.3%;
- Adjusted retail segment operating income raised 9.3% to $43.2 million;
- Credit segment operating loss was $8.5 million, driven primarily by raised provision for bad debts;
- The percentage of the customer portfolio balance 60+ days delinquent was 8.4% as of April 30, 2015 contrast to 8.0% as of April 30, 2014, with a sequential decrease of 130 basis points from January 31, 2015; and
- Diluted earnings for the three months ended April 30, 2015 were $0.43 per share contrast to diluted earnings of $0.77 per share for the three months ended April 30, 2014.
Conn’s, Inc. operates as a specialty retailer of durable consumer goods and related services in the United States. It operates through Retail and Credit segments. The company’s stores provide home appliance comprising refrigerators, freezers, washers, dryers, dishwashers, and ranges; home furniture and mattress, counting furniture and related accessories for the living room, dining room, and bedroom, in addition to traditional and specialty mattresses; and home office products comprising of computers, tablets, printers, and accessories.
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