Articles written by: Steven Goodstein

MRC Global, Lenders Agree to Trim Interest Rate for Senior Secured Term Loan
Markets / Stocks

MRC Global, Lenders Agree to Trim Interest Rate for Senior Secured Term Loan

MRC Global (MRC) Friday said the lenders for its senior secured term loan B have agreed to reduce the interest rate margin for the basic credit facility by 50 basis points, or 20%, to 200 basis points. The banks also agreed to trim the margin on its LIBOR-calculated loans by 50 basis points to 300 basis points while also halving […]

MKM Cuts Granite Construction Price Target to $74
Markets / Stocks

MKM Cuts Granite Construction Price Target to $74

MKM Partners has cut its price target on Granite Construction (GVA) to $74 from $82 while retaining its buy rating, expecting legislative overhang around SB-1 repeal in California to weigh on the shares. Still, MKM analyst Daniel Scott said in a note that he expects margins to turn by the end of the year and the SB-1 issue to be […]

Seattle Genetics To Present ECHELON-1 Trial of Adcetris Combination at Cancer Conference
Business News / Stocks

Seattle Genetics To Present ECHELON-1 Trial of Adcetris Combination at Cancer Conference

Seattle Genetics (SGEN) will present updated data from a phase 1 study of enfortumab vedotin for patients with metastatic urothelial cancer at the 2018 American Society of Clinical Oncology meeting in Chicago, Ill., in June. Data from this study formed the basis of the recent US Food and Drug breakthrough therapy designation for enfortumab vedotin. Multiple posters featuring sub-analyses from […]

Luminex Q1 Profit Meets Estimates
Markets / Stocks

Luminex Q1 Profit Meets Estimates

Luminex’ (LMNX) adjusted EPS rose to $0.25 in Q1 from $0.22 a year earlier, meeting analysts’ expectations in a Capital IQ poll. Revenue rose 6% to $82.7 million from a year ago, exceeding the $80.52 million forecasts. For Q2, Luminex expects revenue to be between $78.5 million and $80 million and reaffirms its full year 2018 revenue guidance of between […]

Groupon Adds American Express to Cash-Back Restaurant Deals Program
Markets / Stocks

Groupon Adds American Express to Cash-Back Restaurant Deals Program

Groupon (GRPN) said Monday it has added American Express (AXP) to its Groupon+ (Groupon Plus) free-to-claim, cash-back restaurant deals program currently available in about 25 U.S. markets. GRPN shares were up 3.7% and AXP shares rose 0.4% in recent trading. The company said once the partnership is fully ramped, American Express Card Members in Groupon+ cities will be able to […]

MagneGas Generates Record Sales in April
Markets / Stocks

MagneGas Generates Record Sales in April

MagneGas (MNGA) said Monday it generated record sales of $1.06 million in April, which the company says is the highest combined industrial gas and welding supply sales in its history. According to MagneGas, the record 236% year-over-year growth was largely due to recent acquisitions that expanded the company into California, Louisiana, and Texas, along with accelerated organic growth in Florida. […]

Frontier Communications Posts Narrower-than-Estimated Q1 Loss
Markets / Stocks

Frontier Communications Posts Narrower-than-Estimated Q1 Loss

Frontier Communications (FTR) shares gained more than 4% in extended trading on Tuesday after the provider of telecom services reported Q1 results that beat Wall Street expectations. Adjusted net loss was $0.58 per share for the March quarter. The average estimate of analysts surveyed by Capital IQ was for a net loss of $0.86. Q1 revenue decreased to $2.199 billion, […]