On Tuesday, MEI Pharma Inc (NASDAQ:MEIP)’s shares declined -5.38% to $1.76.
MEI Pharma, Inc. (MEIP), an oncology company focused on the clinical development of novel therapies for cancer, declared updated results from a Phase II study of its investigational drug candidate Pracinostat in combination with azacitidine (marketed as Vidaza®) in elderly patients with newly diagnosed acute myeloid leukemia (AML). Data from 50 patients treated at 15 centers are being presented at the European Hematology Association (EHA) Annual Congress in Vienna. A copy of the poster, entitled “Updated Results from a Phase 2 Study of Pracinostat in Combination with Azacitidine in Elderly Patients with Acute Myeloid Leukemia,” is now accessible at www.meipharma.com.
MEI Pharma, Inc., an oncology company, focuses on the clinical development of novel therapies for the treatment of cancer. The company’s lead drug candidate is Pracinostat, an orally accessible histone deacetylase inhibitor, which is in Phase II clinical trial for the treatment of hematologic diseases, such as myelodysplastic syndrome and acute myeloid leukemia.
Caesars Entertainment Corp (NASDAQ:CZR)’s shares dropped -3.93% to $6.60.
In the first week of June, MGM Resorts International (MGM), Wynn Resorts Ltd. and Caesars Entertainment Corp. (CZR) were in focus with the passing of two bills by the Governor of Nevada that would further whet the appetite for gambling and boost the state’s sports betting industry.
Further, Caesars Entertainment’s domestic charter service, Total Rewards Air clinched agreements with two airlines to expand its commercial operations. Meanwhile, the possible merger of MGM Resorts and Wynn Resorts brought the companies into limelight.
Company’s Total Rewards Air – a domestic charter service that offers fast and easy way to travel to casino resorts – has reached three-year agreements with Sun Country Airlines and Via Airlines to enhance its commercial operations. Per the agreement, Sun Country Airlines and Via Airlines will serve as the main operating partners for Total Rewards Air and will provide service to more than 100 origin cities across the U.S.
The new technology by Total Rewards Air will make flight and hotel packages booking easy. The expanded service will comprise more than 1,800 flights annually to the Total Rewards Air primary destination hubs of Atlantic City, Laughlin, NV, and Tunica and Biloxi, MS.
Caesars Entertainment Corporation, through its auxiliaries, provides casino-entertainment and hospitality services in the United States and internationally. It operates in four segments: Caesars Entertainment Resort Properties, Caesars Growth Partners Casino Properties and Developments, Caesars Interactive Entertainment, and Caesars Entertainment Operating Company.
At the end of Tuesday’s trade, Integrated Device Technology Inc (NASDAQ:IDTI)‘s shares dipped -0.67% to $23.84.
Integrated Device Technology Inc (IDTI) declared the addition of 6 and 8 output 3.3 V clock generators to its low-power PCI Express® (PCIe) portfolio of clock generators. The 3.3 V family of devices joins the existing 1.5 V and 1.8 V families. The new products operate at about 100 milliwatts, making them the lowest power 3.3 V PCIe clock generators on the market. By operating at roughly one-fifth the power of traditional PCIe clock devices, the IDT 3.3 V devices effectively eliminate thermal concerns.
Integrated Device Technology, Inc. designs, develops, manufactures, and markets a range of semiconductor solutions for the communications, computing, and consumer industries worldwide. It operates in two segments, Communications, and Computing and Consumer. The Communications segment offers communication timing products, such as clocks and timing solutions; flow-control administration devices comprising Serial RapidIO switching solutions; multi-port products; telecommunications products; static random access memory products; first in and first out memories; digital logic products; radio frequency products; and MEMS oscillator solutions.
Companhia Siderurgica Nacional (ADR) (NYSE:SID), ended its Tuesday’s trading session with -3.17% loss, and closed at $1.83.
Companhia Siderurgica Nacional (ADR) (SID) or CSN on Jun 11, 2015. One of the leading steel-makers in Brazil, the company’s crude steel production for first-quarter 2015 stood at 1.18 million tons. It serves important markets like packaging, automotive and construction industries.
Long-term growth prospects remain bright for Companhia Siderurgica Nacional, with domestic steel demand likely to improve due to huge investments toward development of ports, railroads, airports, wind farms and roads. Also, the company’s diversified business structure, with exposure in steel, iron ore mining, logistics, cement and energy industries will prove beneficial in the long run.
Moreover, Companhia Siderurgica Nacional comprising endeavors to improve its production capabilities and services. For 2014−2019, the company has planned investments totaling R$21.3 billion, counting R$12 billion for mining business, R$0.4 billion for steel, R$1.4 billion for cement and R$7.5 billion for miscellaneous purposes.
However, despite these long-term positives, Companhia Siderurgica Nacional is exposed to risks arising from near-term headwinds. Huge debt levels and higher costs and expenses, if left unchecked, will prove detrimental to the company’s profitability. Moreover, the company’s international operations are subject to risks from unfavorable foreign currency translations.
Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil. It operates through five segments: Steel, Mining, Cement, Logistics, and Energy. The company primarily produces carbon steel and various steel products for the distribution, packaging, automotive, home appliance, and construction industries.
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