On Monday, Shares of Merck & Co., Inc. (NYSE:MRK), lost -2.38% to $48.42.
Syndax Pharmaceuticals, Inc. and Merck (MRK), known as MSD outside the United States and Canada, recently declared the dosing of the first patients in the Phase 1b/2 clinical trial of Syndax’s entinostat in combination with Merck’s anti-PD-1 therapy KEYTRUDA® (pembrolizumab) in patients with non-small cell lung cancer (NSCLC) or melanoma. The clinical trial, designated ENCORE 601 by Syndax and KEYNOTE 142 by Merck, is evaluating the safety, tolerability and efficacy of entinostat, an oral, small molecule that targets immune regulatory cells, combined with KEYTRUDA, an anti-programmed cell death protein 1 (anti-PD-1) antibody.
The ENCORE 601/KEYNOTE 142 trial is designed as a Phase 1b/2 open label clinical trial with dose escalation for entinostat, in which the Phase 1b portion will evaluate the safety and tolerability of the combination of entinostat and KEYTRUDA in patients with NSCLC, and the Phase 2 portion will assess the safety and preliminary efficacy of the combination in separate cohorts in patients with NSCLC or melanoma. The trial will be conducted in the United States and is predictable to enroll up to 178 patients.
Merck & Co., Inc. is a global health care company. The Company offers health solutions through its prescription medicines, vaccines, biologic therapies and animal health products, which it markets directly and through its joint ventures. The Company’s Pharmaceutical segment includes human health pharmaceutical and vaccine products marketed either directly by the Company or through joint ventures.
Shares of J C Penney Company Inc (NYSE:JCP), declined -1.59% to $9.28, during its last trading session.
Charles Grom of Sterne Agee CRT has upgraded the rating from Neutral to Buy, with a price target of $13, according to Benzinga.
Analyst Charles Grom believes that the new CEO, Marvin Ellison, “has the right demeanor, discipline, and business acumen to “right the ship”,” mentioning that Ellison intends to build off JC Penney’s previous core competencies, rather than trying to create an alternative brand identity for the company.
While industry headwinds continue to impact the department store industry, Grom anticipates JC Penney’s turnaround initiatives to drive meaningful improvements to the EBITDA, “so much that the current $1.2B EBITDA aim (for 2017), which many view as a ceiling . . . will soon become a floor.”
J C. Penney Company, Inc. (JCPenney) is a holding company. The Company’s operating subsidiary is J. C. Penney Corporation, Inc. (JCP). The Company’s business consists of selling merchandise and services to consumers through its department stores and Website at jcpenney.com, which utilizes applications for desktop, mobile and tablet devices.
Shares of U.S. Bancorp (NYSE:USB), declined -2.40% to $40.42, during its last trading session.
U.S. Bank and Elavon, the global acquiring partner of U.S. Bancorp (USB), recently declared the availability of Samsung Pay to offer more payment choices and convenience to their customers.
Consumers and small businesses with U.S. Bank Visa® credit and debit cards may now load their cards onto eligible Samsung mobile devices and pay using Samsung Pay. U.S. Bank’s co-brand and affinity partners may do the same. Point of sale devices offered to U.S. Bank and Elavon merchant customers are also enabled to accept participating credit and debit card Samsung Pay payments.
Samsung Pay delivers secure mobile payments worldwide and uses both Near Field Communication (NFC) and proprietary technology called Magnetic Secure Transmission (MST). MST promotes broad merchant acceptance by converting traditional magnetic-stripe information into a wireless signal that has the potential of being accepted at about 30 million merchant locations worldwide – almost anywhere your customers can swipe a card themselves.
U.S. Bancorp is a multi-state financial services holding company. The Company operates through its banking subsidiary, U.S. Bank National Association, is engaged in the general banking business in domestic markets.
Finally, SouFun Holdings Ltd (NYSE:SFUN), ended its last trade with 4.10% gain, and closed at $5.84.
SouFun Holdings declared it reached (i) a subscription agreement ( “IDG Subscription Agreement”) with IDG Alternative Global Limited, which is an associate of IDG Capital Partners (“IDG”) as of the date of IDG Subscription Agreement and (ii) a subscription agreement (“Carlyle Subscription Agreement”, together with IDG Subscription Agreement, “Subscription Agreements”) with Safari Group Holdings Limited and Safari Group CB Holdings Limited, which are beneficially owned by Carlyle Group (“Carlyle”) as of the date of Carlyle Subscription Agreement. IDG, Carlyle and the administration (mainly founder and CEO Vincent Mo) will invest a total amount between $400 million and $700 million (of which 50% will be convertible notes) to purchase SouFun’s newly issued Class A ordinary shares and convertible notes (“Notes”) following the Subscription Agreements.
Under the Subscription Agreements, the subscription price of the new Class A ordinary shares is US$5.85 per current ADS (i.e. US$29.25 per Class A ordinary share), which is higher than the closing price of SouFun’s ADS as of September 16, 2015 and represents a 3.5% premium to the volume-weighted average trading price of the ADS for the 20 trading days preceding September 16, 2015. Holders of the convertible notes will have the right to convert the Notes into Class A ordinary shares at the price per share equal to 122.5% of the per share purchase price of the new Class A ordinary shares in 7 years after the issuance of the Notes. The Notes shall bear an annual interest of 1.5%.
SouFun Holdings Limited operates as a real estate Internet portal in China. The Company also operates home furnishing and improvement Websites. Its Websites and mobile applications support online communities and networks of users seeking information on, and services for, the real estate and home-related sectors in China.
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