During Thursday’s current trade, Gilead Sciences, Inc (NASDAQ:GILD)’s shares gained 1.71%, to $108.20.
Gilead Sciences, Inc (GILD) and EpiTherapeutics ApS, a privately-held Danish company, declared the signing of a definitive agreement following which Gilead has attained EpiTherapeutics for $65 million, subject to certain purchase price adjustments, to be financed through accessible cash on hand.
EpiTherapeutics has generated a library of first-in-class, selective small molecule inhibitors of epigenetic regulation of gene transcription, in particular histone demethylases. The company’s lead pre-clinical compounds are being studied for the treatment of certain cancers.
“Epigenetics is a promising area of research and the EpiTherapeutics team is a recognized scientific leader in this field,” said Norbert Bischofberger, PhD, Gilead’s Executive Vice President, Research and Development and Chief Scientific Officer. “This therapeutic class represents a planned fit with our existing research portfolio, counting the potential for novel combination approaches. We look forward to working with colleagues from EpiTherapeutics to advance these programs toward clinical development in diseases with noteworthy unmet medical need.”
“EpiTherapeutics has done groundbreaking work in a new therapeutic class of small molecule inhibitors with broad implications across various disease states,” said Martin Bonde, PhD, EpiTherapeutics’ Chief Executive Officer. “We are confident that with Gilead’s acquisition of the company, our discoveries will have the best chance to be developed into therapies that will benefit patients.”
Gilead Sciences, Inc., a biopharmaceutical company, discovers, develops, and commercializes medicines in areas of unmet medical nee in North America, South America, Europe, and the Asia-Pacific. The company’s products comprise Stribild, Complera/Eviplera, Atripla, Truvada, Viread, Emtriva, Tybost, and Vitekta for the treatment of human immunodeficiency virus (HIV) infection in adults; and Harvoni, Sovaldi, Viread, and Hepsera products for the treatment of liver disease.
Weyerhaeuser Co (NYSE:WY)’s shares jumped 1.34% to $32.46, during the current trading session Thursday’s.
Weyerhaeuser Co (WY), stated first quarter net earnings to common shareholders of $90 million, or 17 cents per diluted share, on net sales of $1.7 billion. This compares with net earnings of $183 million, or 31 cents per diluted share, on net sales from ongoing operations of $1.7 billion for the same period last year.
Not taking into account after-tax charges of $9 million for special items, the company stated net earnings of $99 million, or 19 cents per diluted share for the first quarter. This compares with net earnings from ongoing operations before special items of $143 million for the same period last year and $145 million for fourth quarter 2014.
“We are happy with our first quarter performance in Timberlands and Wood Products, as operational excellence efforts resulted in higher earnings contrast with the fourth quarter in both businesses despite weaker market conditions,” said Doyle Simons, president and chief executive officer. “Our Cellulose Fibers business was challenged by a strengthening U.S. dollar, West Coast port disruptions, and a slower than predictable restart of our largest fluff mill after a planned maintenance outage in the quarter. We repurchased over $250 million of common shares in the quarter, and have now accomplished 65 percent of our authorization. We look forward to an improving spring selling season and continue to expect measured growth in U.S. housing starts.”
Weyerhaeuser Co. is a real estate investment trust. It primarily invests in United States. The firm operates under four business segments, timberlands, wood products, cellulose fibers and real estate. It owns timberlands primarily in the U.S and has long-term licenses in Canada. The firm manufactures wood and specialty cellulose fibers products, and develops real estate, primarily as a builder of single-family homes. Weyerhaeuser Co was founded in 1900 and is based in Federal Way, Washington.
In an afternoon trade, L Brands Inc (NYSE:LB)’s shares climbed 1.18%, to $88.04.
In conjunction with L Brands (LB) first quarter 2015 earnings release, which will cross the wire after market close on Wednesday, May 20, you are invited to listen to a live webcast of the conference call on Thursday, May 21, at 9:15 a.m. ET with L Brands executives.
What: L Brands First Quarter 2015 Earnings Conference Call Webcast
When: 9:15 a.m. ET on Thursday, May 21, 2015
Where: http://www.LB.com
L Brands, Inc. operates as a specialty retailer of women’s intimate and other apparel, beauty and personal care products, and accessories. The company operates in three segments: Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. Its products comprise loungewear, bras, panties, sleepwear, swimwear, athletic attire, fragrances, shower gels and lotions, aromatherapy, soaps and sanitizers, home fragrances, handbags, jewelry, and personal care accessories.
Norfolk Southern Corp (NYSE:NSC), during its Thursday’s current trading session dropped -0.50% to $97.25.
Alan H. Shaw has been named executive vice president and chief marketing officer by the board of directors of Norfolk Southern Corp. (NSC), Chairman and CEO Wick Moorman said.
The appointment is effective May 16, 2015, with an office in Norfolk, and Shaw will report to NS President James A. Squires. He succeeds Donald W. Seale, who stepped down after 39 years in administration positions in NS’ marketing division.
“Norfolk Southern’s ongoing aim is to provide reliable rail services and market access that support our shippers and receivers as leaders in their business sectors,” Moorman said. “Alan has the experience and market perspective to ensure that our valued customer partnerships grow even stronger.
“I have the highest confidence in Alan and the entire Marketing Division to continue finding effective ways for customers to take advantage of the best that rail has to offer,” said Squires. “Clean, safe, dependable rail transportation is what moves the economy, and Alan has the long-term perspective to build on those advantages.”
Reporting to Shaw will be NS’ merchandise, intermodal, and coal marketing organizations; the teams that manage shipping options such as short line connections and the transload network; real estate services; and the corporation’s industrial development services for companies that want to locate and expand rail-served businesses.
Norfolk Southern Corporation, together with its auxiliaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. As of December 31, 2014, it operated about 20,000 miles of road in 22 states and the District of Columbia. The company also operates planned passenger trains; transports overseas freight through various Atlantic and Gulf Coast ports; and provides logistics services. In addition, it provides bimodal truckload transportation services primarily utilizing RoadRailer trailers, a hybrid technology that facilitates over-the-road and on-the-rail transportation in the eastern United States, in addition to in Ontario and Quebec through a network of terminals.
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