On Friday, Shares of Bank of America Corporation (NYSE:BAC), lost -1.82% to $15.65.
Bank of America Corp. shareholders should oppose a proposal allowing Chief Executive Officer Brian Moynihan to remain chairman, proxy adviser Institutional Shareholder Services said in a report to investors, according to Bloomberg.
“The board’s suggestion that the independent chairman requirement is no longer needed given that the company’s circumstances have changed since 2009 is unconvincing,” ISS said in the report obtained Friday by Bloomberg. “While the near-term viability of BAC is no longer in question, its performance and governance continue to raise concerns,” the proxy adviser wrote, referring to the bank’s stock ticker.
Moynihan, 55, became chairman in October after the second-largest U.S. lender amended shareholder-backed bylaws created in 2009 that require an independent chairman. The bank’s investors are planned to vote Sept. 22 on a proposal that would ratify that change. Glass Lewis & Co., another proxy adviser, said earlier this week that it also opposes the bylaw change. Bloomberg Reports
Bank of America Corporation is a bank holding company. The company, through its auxiliaries, operates through Consumer and Business Banking; Consumer Real Estate Services; Global Wealth and Investment Administration; Global Banking; Global Markets; and Other segments.
Shares of Sprint Corporation (NYSE:S), declined -1.98% to $4.95, during its last trading session.
Sprint Corporation declared it will start a four-year commitment of offering free broadband connectivity to the Pomona, Calif., Unified School District to 300 students at the School of Extended Educational Options (SEEO). The high-speed LTE broadband service will assist students stay connected at-home through a Wi-Fi hotspot. The value of Sprint’s service during the term is estimated at $576,000.
“This partnership is a novel approach to ensuring that the learning that takes place in the classrooms continues at home by making technology and Internet accessible to our unconnected students,” said Pomona Unified School District Superintendent Richard Martinez, who has been recognized by the White House for being a trailblazer in the world of digital education. “I want to thank Sprint for partnering with Pomona Unified to assist us reach our aim of supporting student learning through innovative strategies.”
Last year, Sprint pledged to provide wireless broadband connectivity for 50,000 low-income K-12 students across the U.S. as part of the White House initiative, ConnectED – a public and private effort to get technology into classrooms and into the hands of teachers and students to assist bridge the “digital divide.” SEEO is one of the first schools to come online with Sprint.
Sprint Corporation, through its auxiliaries, provides various wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers in the United States, Puerto Rico, and the U.S. Virgin Islands.
Finally, Merck & Co. Inc. (NYSE:MRK), ended its last trade with -2.01% loss, and closed at $51.59.
Merck & Co., declared that the U.S. Food and Drug Administration (FDA) has approved a supplemental New Drug Application (sNDA) for EMEND® (aprepitant) capsules, a substance P/neurokinin 1 (NK1) receptor antagonist. With this expanded indication, EMEND capsules are now approved for use in combination with other antiemetic agents in patients 12 years of age and older and patients less than 12 years who weigh at least 30 kg (about 66 pounds) for the prevention of acute and delayed nausea and vomiting associated with initial and repeat courses of highly emetogenic cancer chemotherapy (HEC) counting high-dose cisplatin, in addition to for the prevention of nausea and vomiting associated with initial and repeat courses of moderately emetogenic cancer chemotherapy (MEC). EMEND has not been studied for treatment of established nausea and vomiting. Chronic continuous administration of EMEND is not recommended because it has not been studied, and because the drug interaction profile may change during chronic continuous use.
With this approval, EMEND is the first and only NK1 receptor antagonist to be approved for the prevention of acute and delayed phases of chemotherapy-induced nausea and vomiting (CINV) in patients 12 to 17 years of age and patients less than 12 years who weigh at least 30 kg receiving HEC or MEC. The approval was supported by data from a pivotal Phase 3 study that showed adding EMEND to a standard regimen for prevention of CINV in HEC or MEC regimens resulted in a reduction of emetic events.
EMEND is contraindicated in patients with any known sensitivity to any component of this drug. EMEND is also contraindicated for patients taking pimozide.
Merck & Co., Inc. provides health care solutions worldwide. The company offer therapeutic and preventive agents to treat cardiovascular, type 2 diabetes, asthma, nasal allergy symptoms, allergic rhinitis, chronic hepatitis C virus, HIV-1 infection, fungal infections, intra-abdominal infections, hypertension, arthritis and pain, inflammatory, osteoporosis, male pattern hair loss, and fertility diseases.
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