On Wednesday, Shares of Bank of America Corporation (NYSE:BAC), gained 0.24% to $16.47.
Bank of America Corporation, declared it will report second-quarter 2015 financial results on Wednesday, July 15. The results are planned to be released at 7 a.m. ET, followed by an investor presentation at 8:30 a.m. ET.
Bank of America Corporation, through its auxiliaries, provides banking and financial products and services for individual consumers, small and middle market businesses, institutional investors, large corporations, and governments worldwide. The company operates through Consumer & Business Banking; Consumer Real Estate Services; Global Wealth & Investment Administration; Global Banking; Global Markets; and Legacy Assets & Servicing segments.
Shares of Exelixis, Inc. (NASDAQ:EXEL), declined -0.82% to $3.65, during its last trading session.
On April 30, Exelixis stated financial results for the first quarter of 2015 and offered an update on progress toward its 2015 key corporate objectives and clinical development milestones.
Updates on National Cancer Institute’s Cancer Therapy Evaluation Program (NCI-CTEP) and Investigator-Sponsored Trials (IST) of Cabozantinib.
Exelixis’ collaborators at NCI-CTEP and independent investigators are evaluating cabozantinib in tumor types beyond the company’s phase 3 pivotal trials in mRCC and HCC. Following are a few program updates:
- The Alliance for Clinical Trials in Oncology (The Alliance) recently notified Exelixis that CABOSUN, the randomized phase 2 study of cabozantinib as compared to sunitinib in the first-line RCC setting, met its enrollment target of 150 patients determined to be intermediate or poor risk by the Heng criteria. The primary endpoint of CABOSUN is PFS. Given the historical PFS duration for sunitinib in similar patients in the first-line setting, Exelixis anticipates data from the trial in 2016. CABOSUN is being conducted by The Alliance as part of Exelixis’ partnership with the NCI-CTEP.
- Separately, the NCI-CTEP has received and notified Exelixis of top-line results from its randomized phase 2 trial (Study GOG-0186K) of cabozantinib as compared to paclitaxel (1:1) in 111 patients with persistent or recurrent epithelial ovarian, fallopian tube, or primary peritoneal cavity cancer. The trial did not meet its primary endpoint of demonstrating a statistically noteworthy improvement in PFS for patients treated with cabozantinib as contrast to paclitaxel. Safety data were consistent with those observed in other trials of cabozantinib. The results of the study are the subject of ongoing analyses and will be presented by the investigators for presentation at a future medical conference.
- NCI-CTEP anticipates in the near-term the initiation of a phase 1 trial of cabozantinib in combination with nivolumab alone, or in combination with nivolumab plus ipilimumab, in patients with advanced/metastatic urothelial (bladder) and other genitourinary tumors.
Exelixis, Inc., a biopharmaceutical company, develops and sells small molecule therapies for the treatment of cancer in the United States. The company offers COMETRIQ, an inhibitor of multiple receptor tyrosine kinases for the treatment of patients with progressive, metastatic medullary thyroid cancer.
At the end of Wednesday’s trade, Shares of Owens-Illinois, Inc. (NYSE:OI), surged 9.21% to $25.98.
Owens-Illinois, declared that it has reached a definitive agreement with Vitro, S.A.B. de C.V. (VITROA.MX), to acquire Vitro`s food and beverage glass container business in an all-cash transaction valued at about $2.15 billion. Vitro is the largest supplier of glass containers in Mexico. The transaction, which has been approved by the boards of directors of both companies, is subject to approval by Vitro`s shareholders and customary regulatory approvals. The deal is predictable to close within 12 months.
The transaction provides O-I with a competitive position in the attractive and growing glass segment of the packaging market in Mexico, further enhancing O-I`s position as the world`s foremost glass container producer. The agreement comprises Vitro`s five plants in Mexico and one in Bolivia, which together employ 4,700 people. The current leadership of Vitro`s food and beverage glass container business will remain in place following the transaction close. The attained business is predictable to generate estimated annual revenue of $945 million and adjusted EBITDA of $278 million.
Owens-Illinois, Inc., through its auxiliaries, manufactures and sells glass container products to food and beverage manufacturers primarily in Europe, North America, South America, and the Asia Pacific. It produces glass containers for alcoholic beverages, counting beer, flavored malt beverages, spirits, and wine.
Finally, The Goodyear Tire & Rubber Company (NASDAQ:GT), ended its last trade with 2.67% gain, and closed at $30.38, hitting its highest level.
On April 29, The Goodyear Tire & Rubber Company, stated record earnings for the first quarter of 2015.
Goodyear’s first quarter 2015 sales were $4.0 billion, down from $4.5 billion a year ago, with the decrease largely attributable to unfavorable foreign currency translation of $393 million.
Tire unit volumes totaled 40.8 million for the first quarter of 2015, up 2 percent from last year. Original equipment unit volume was up 3 percent. Replacement tire shipments were up 2 percent.
The company stated record first quarter segment operating income of $391 million in 2015, up from $373 million a year ago. The enhance in segment operating income was driven by higher sales volume, a net benefit from changes in price/mix and raw material costs and improvements in other cost items. These improvements were partially offset by unfavorable foreign currency translation.
The Goodyear Tire & Rubber Company develops, manufactures, distributes, and sells tires, and related products and services in North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific.
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