Select Medical Shares Gain

Select Medical Shares Gain

Select Medical Holdings shares rose 3% in morning trading after the operator of specialty hospitals and outpatient rehabilitation clinics guided for full year revenue in line with Wall Street expectations. Select Medical expects consolidated net operating revenues for the full year 2017 to be in the range of $4.4 billion to $4.6 billion. Analysts polled by Capital IQ are expecting $4.49 billion on average. Select Medical expects fully diluted income […]

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Crude Recovers To End Higher In U.S.

Crude Recovers To End Higher In U.S.

U.S. crude on the New York Mercantile Exchange rose 0.94 percent to $53.56 a barrel, while global benchmark Brent crude gained 0.76 percent to $56.89 a barrel. U.S. crude oil inventories fell 7.1 million barrels at the end of last week, well beyond the 2.2 million drop seen, as companies cleared supplies for tax purposes at the year end and the higher refining runs prompted a surge in gasoline and […]

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Monsanto Signs Licensing Agreement

Monsanto Signs Licensing Agreement

Monsanto said it reached a new global licensing agreement with Harvard and the Broad Institute of the Massachusetts Institute of Technology for the use of the new CRISPR-Cpf1 genome-editing technology in agriculture. The method has potential to be a simpler and more precise tool for making targeted improvements in a cell’s DNA when compared to the older CRISPR-Cas9 system, the company said on Wednesday. “Monsanto believes that genome-editing technologies, including […]

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Bonds Trim Losses

Bonds Trim Losses

U.S. Treasuries pared early losses Tuesday as stocks trimmed gains. Treasuries were pressured on rising global inflation measures and equities while later domestic manufacturing and construction data beat expectations. The mid-curve has been hit hardest while the two- and 30-year wings outperform. Treasuries have continued to suffer in the face of expected upticks in inflation, fiscal spending and increased debt supply. The 30-year recently traded near 3.075% from a 3.133% […]

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Energy Stocks Losing Ground

Energy Stocks Losing Ground

Energy stocks have turned narrowly mixed, with the NYSE Energy Sector Index rising about 0.2% while shares of energy companies in the S&P 500 were down about 0.1% as a group. Crude oil for February delivery was down 14 cents at $53.63 per barrel while February natural gas futures were 9 cents lower at $3.71 per 1 million BTU. In company news, Gulfport Energy (GPOR) has recovered a portion of […]

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Stocks Reverse Gains in US Intraday

Stocks Reverse Gains in US Intraday

The main US stock markets gave back gains made earlier in the session and headed lower for a second day on Thursday afternoon, as financials weighed on the Dow Jones Industrial Average. The run to record highs for all three benchmarks has taken a breather in holiday-lightened trade, while the blue-chip benchmark Dow moved further away from the key 20,000 level, of which it had come within about 25 points […]

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BGC Partners Sees Q4 Distributable Earnings Near Top of Forecast Range

BGC Partners Sees Q4 Distributable Earnings Near Top of Forecast Range

BGC Partners Inc. was steady in late Wednesday trading after the global brokerage company revised its outlook for its financial results during the three months ending Dec. 31, now expecting Q4 pre-tax distributable earnings to near the high-end of its prior forecast range expecting between $107 million to $125 million, up from $103.6 million during the final three months of 2015. The company also sees quarterly revenue near the mid-point […]

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Consumer Confidence Rises to 15-Year High

Consumer Confidence Rises to 15-Year High

Consumer confidence rose to the highest level in more than 15 years amid a strong economy and optimism for the new year. The Conference Board Consumer Confidence Index rose to a reading of 113.7 in December frmo 109.4 a month earlier, the independent researcher said in a report on Tuesday. The firm’s expectations index increased “sharply” to a 105.5 reading from 94.4 a month earlier, the highest in 13 years. […]

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Arrow Electronics Increases Credit Facility

Arrow Electronics Increases Credit Facility

Arrow Electronics said Friday it has increased its revolving credit facility to $1.8 billion from $1.5 billion while extending the maturity to December 2021 from December 2018. “When combined with our strong cash flows and balance sheet, the credit facility enhances our financial flexibility to continue to drive strategic growth,” CEO Chris Stansbury said.

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Vericel Closes 7.1 Million Stock Offering

Vericel Closes 7.1 Million Stock Offering

Vericel shares are nearly 7% higher in early trade as the company said after Wednesday’s close it has closed its 7.1 million share offering, priced at $2.75 per share, resulting in gross proceeds of $20 million. The offering included 930,000 shares of common stock sold pursuant to the over-allotment option granted by the company to the underwriters, which was exercised in full. Vericel plans to use the proceeds from the […]

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