Business News / Markets
Alibaba Group Holding (BABA) said pre-market Tuesday it has decided to sell certain Tmall Pharmacy healthcare businesses to Hong Kong-listed Alibaba Health Information Technology Ltd. for HKD10.6 billion ($1.4 billion). The businesses transferring to Alibaba Health include medical devices and healthcare products, adult products and medical and healthcare services. The e-commerce giant also said it would raise its equity ownership […]
Markets / Stocks
Pan American Silver (PAAS), a mining company based in Canada, has suspended operations indefinitely at its Dolores mine in Chihuahua, Mexico amid reports of organized crime attacks on workers, according to El Diario de Chihuahua. The suspension was confirmed by Jose Rafael Jabalera, director of mining in the state government, the report said. The Dolores mine has a workforce of […]
Business News / Markets
Amneal Pharmaceuticals (AMRX) shares advanced in Thursday morning trading after the specialty pharmaceutical company said it has received final FDA approval on its “Abbreviated new drug application” for a generic version of Welchol tablets, 625 mg. Shares rose 2.5% in early trading. Amneal said it has immediately started commercialization activities for this first-to-market opportunity. “We are pleased to be one […]
Markets / Stocks
Telecom Italia S.P.A (TI) reappointed Amos Genish as its CEO on Monday, French media group Vivendi said in a statement, after U.S. activist investor Elliott Management wrested control of the phone carrier’s board last week. Genish, who was appointed as Telecom Italia CEO in September, received unanimous consent from the new board. Fulvio Conti, meanwhile, was appointed chairman. “We have […]
Business News / Markets
Chardan has set its price target on ORBCOMM (ORBC) at $13.30 while retaining its buy rating to reflect its Q1 results and the recently completed 3.45 million share offering. “Risks to achieving our target include higher than expected integration costs of acquisitions, increased competition, and the overall health of the global economy,” Chardan analyst James McIlree said in a note.
Markets / Stocks
Zendesk Inc. (ZEN) late Tuesday was rising in after-hours trading after reporting a surprise non-GAAP Q1 profit, earning $0.02 per share during the three months ended March 31, reversing a $0.05 per share net loss during the same quarter last year and topping the Capital IQ consensus expecting a $0.03 per share net loss. Revenue for the software firm rose […]
Business News / Markets
Chatham Lodging Trust (REIT) (CLDT) said Tuesday that it recorded an adjusted FFO of $16.5 million in the first quarter, down 8.8% from the $18.1 million in the corresponding period of 2017, but the company’s adjusted FFO per diluted share of $0.36 was above consensus estimates of $0.35 and exceeding its guidance of $0.33 to $0.35. Chatham also exceeded consensus […]
