On Friday, Shares of Oshkosh Corporation (NYSE:OSK), lost -2.00% to $39.60.
Oshkosh Corporation declared that its Board of Directors recently approved an improvement to its share repurchase authority. The new authorization is in addition to the unused portion of the Company’s previous share repurchase authorization and permits the Company to repurchase up to an additional 10 million shares of Oshkosh Corporation common stock. The authorization is open-ended and the Company has not set any timeframe to use the authority.
“Today’s action reaffirms our Board’s confidence in the Company’s MOVE strategy and gives us the flexibility to repurchase shares over the next few years when opportunities arise,” said Charles L. Szews, Oshkosh Corporation chief executive officer.
During the Company’s fourth fiscal quarter through August 31, 2015, the Company repurchased 2,599,723 of its shares. As of August 31, 2015, the Company had 299,198 shares available for repurchase under its previous share repurchase authorization.
Oshkosh Corporation designs, manufactures, and markets specialty vehicles and vehicle bodies worldwide. Its Access Equipment segment offers aerial work platforms and telehandlers used in construction, agricultural, industrial, institutional, and general maintenance applications.
Finally, Incyte Corporation (NASDAQ:INCY), ended its last trade with -0.16% loss, and closed at $115.88.
Incyte Corporation, declared a global license and partnership agreement with Jiangsu Hengrui Medicine Co., Ltd. for the development and commercialization of SHR-1210, an investigational anti-PD-1 monoclonal antibody. Under the agreement, Incyte will have the exclusive development and commercialization rights to SHR-1210 worldwide, with the exception of Mainland China, Hong Kong, Macau, and Taiwan. SHR-1210 is predictable to enter proof-of-concept studies for the treatment of patients with advanced solid tumors in the coming months.
“The addition of this anti-PD-1 candidate to our early stage portfolio reinforces our commitment to cancer patients and further diversifies our clinical development programs,” stated Hervé Hoppenot, President, and Chief Executive Officer of Incyte. “We continue to make excellent progress in the multiple clinical trials underway across our existing portfolio, counting our planned collaborations.”
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics primarily for oncology. It offers JAKAFI, an oral janus associated kinase (JAK) inhibitor for the treatment of patients with intermediate or high-risk myelofibrosis (MF), counting primary MF, post-polycythemia vera MF, and post-essential thrombocythemia MF.
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