On Wednesday, Investors Bancorp, Inc. (NASDAQ:ISBC)’s shares inclined 1.30% to $12.43.
Investors Bancorp, Inc. (ISBC) declared that its Board of Directors approved the Company’s second share repurchase program which authorizes the repurchase of an additional 10% of the Company’s outstanding shares of common stock, or about 34 million shares. The new repurchase program will commence right away upon completion of the first repurchase plan declared in March 2015. The Company will repurchase the shares from time to time for cash in open market transactions in accordance with applicable federal securities laws.
Investors Bancorp, Inc. operates as the holding company for Investors Bank that provides various banking products and services for businesses and individuals in the United States. It offers deposit products, such as savings, checking, and money market accounts, in addition to certificates of deposit. T
ITC Holdings Corp. (NYSE:ITC)’s shares gained 0.03% to $33.12.
ITC Holdings Corp. (ITC) declared it has filed a major permit application with the U.S. Department of Energy (DOE) for the ITC Lake Erie Connector merchant transmission line. The purpose of the DOE filing is to obtain the Presidential Permit necessary for international border-crossing projects.
The ITC Lake Erie Connector is a projected 1000 MW, bi-directional, High-Voltage Direct Current (HVDC) merchant transmission line that will provide the first direct link between the markets of the Ontario Independent Electricity System Operator (IESO) and PJM Interconnection, LLC (PJM). The ITC Lake Erie Connector will enable transmission customers to more efficiently access energy, capacity, and renewable energy credit opportunities in both markets.
ITC Holdings Corp., together with its auxiliaries, engages in the transmission of electricity in the United States. The company functions as conduit, allowing for power from generators to be transmitted to local distribution systems through its own systems or in conjunction with neighboring transmission systems. It owns and operates high-voltage transmission facilities in Michigan’s Lower Peninsula and portions of Iowa, Minnesota, Illinois, Missouri, Kansas, and Oklahoma.
At the end of Wednesday’s trade, American Electric Power Company Inc (NYSE:AEP)‘s shares surged 0.80% to $53.89.
Affiliates of American Electric Power (AEP), Berkshire Hathaway Energy, Duke Energy (DUK), Edison International (EIX), Eversource Energy (ES), Exelon (EXC), Great Plains Energy (GXP), and Southern Company (SO) have signed a memorandum of understanding to pursue development of Grid Assurance™, a limited liability company that expects to offer subscribers cost-effective solutions for enhancing grid resiliency and protecting customers from prolonged transmission outages.
As proposed, Grid Assurance will own and provide subscribers with timely access to an inventory of emergency spare transmission equipment that can otherwise take months to acquire. Grid Assurance filed a petition with the Federal Energy Regulatory Commission (FERC) late yesterday seeking confirmation that this service can be part of a transmission-owning entity’s strategy to effectively address grid resiliency mandates. Grid Assurance will not be FERC regulated, but plans to charge cost-based subscription fees, similar to FERC-regulated transmission formula rates. Cost-based subscription fees are expected to facilitate subscribers’ ability to recover expenses.
Restoration of the transmission grid can be hampered by long lead times required to design, build and deliver critical replacement equipment including large transformers, circuit breakers and other specialized electrical equipment. As proposed, Grid Assurance will be more cost-effective than companies independently securing emergency spare equipment for high-impact, low-frequency events due to economies of scale, diversification and improved logistics.
American Electric Power Company, Inc., a public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers. The company generates electricity using coal and lignite, natural gas, nuclear, and hydroelectric and other energy sources.
Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA), ended its Wednesday’s trading session with 2.05% gain, and closed at $8.95.
Ariad Pharmaceuticals, Inc. (ARIA) and Paladin Labs Inc., an operating company of Endo International plc (ENDP) (ENL.TO), recently declared that ARIAD has granted Paladin exclusive rights to distribute Iclusig™ (as ponatinib hydrochloride) in Canada for its newly approved indications. Paladin is focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian market.
Health Canada approved Iclusig for the treatment of adult patients with all phases of chronic myeloid leukemia (CML) or Philadelphia chromosome-positive acute lymphoblastic leukemia (Ph+ ALL) for whom other tyrosine kinase inhibitor (TKI) therapy is not appropriate, counting CML or Ph+ ALL that is T315I mutation positive, or where there is prior TKI resistance or intolerance. Iclusig will be made accessible through a controlled distribution program, whereby prescribers who have accomplished the certification procedure will be able to prescribe Iclusig.
ARIAD Pharmaceuticals, Inc., an oncology company, engages in the discovery, development, and commercialization of medicines for cancer patients. The company offers Iclusig (ponatinib), a tyrosine kinase inhibitor (TKI) for the treatment of adult patients with chronic myeloid leukemia (CML), and Philadelphia chromosome-positive acute lymphoblastic leukemia in the United States, Europe, and other territories.
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