Navient Agrees to Acquire Earnest for $155 Mln

Navient Agrees to Acquire Earnest for $155 Mln

Navient (NAVI), a provider of asset management and business processing solutions, said after market close on Wednesday that it has agreed to acquire Earnest, a financial technology and education finance company, for $155 million in cash. Earnest is expected to originate nearly $1 billion in student loan refinancing loans in 2017. As part of Navient, Earnest will continue as a distinct brand and will be led by its current management […]

Read More ˃
Prices Close Lower, Curves Mostly Steeper

Prices Close Lower, Curves Mostly Steeper

US Treasuries prices closed lower with mostly curves steeper after fading an early safe haven rally. In early trade Treasuries were boosted by underperforming Bunds as Spanish/Catalan risk amid lower Spanish equities and widening in Spanish bonds vs Germany. This caused a repeat of Monday’s price action in Treasuries as shorts set up for supply only to be squeezed. There was, however, some prop buying in 10Y while in the […]

Read More ˃
Abbott Laboratories Receives FDA Approval For HeartMate 3 LVAD System

Abbott Laboratories Receives FDA Approval For HeartMate 3 LVAD System

Abbott Laboratories received U.S. Food and Drug Administration approval for its full MagLev HeartMate 3 Left Ventricular Assist System (LVAD). The HeartMate 3 system provides advanced heart failure patients in need of short-term hemodynamic support and improved blood flow in a pump that uses full magnetic levitation to reduce trauma to blood passing through the LVAD system. The decision by the FDA was supported by the Momentum 3 clinical study […]

Read More ˃
Manulife Financial To Redeem Medium Term Notes

Manulife Financial To Redeem Medium Term Notes

Manulife Financial Corp said Tuesday it intends to redeem all of its outstanding $600 million principal amount of 7.768% medium term notes that are due April 8, 2019. The redemption price for the notes will be determined in accordance with the provisions of the company’s trust indenture and the fourth supplemental indenture dated April 8, 2009. The price will be equal to the greater of a price based on the […]

Read More ˃
Horizon Pharma Reports Q2 EPS and Revenue Beat

Horizon Pharma Reports Q2 EPS and Revenue Beat

Horizon Pharma rose 21.9% in Monday’s pre-market trading after the company reported financial results for Q2, with better-than-expected earnings and revenue and increased its full-year 2017 revenue guidance above forecasts. The biopharmaceutical company posted non-GAAP earnings of $0.41 per share, compared with the prior-year period’s $0.56 per share. Analysts polled by Capital IQ were expecting EPS of $0.10. Revenue was $289.5 million, up 12% from $257.4 million in the same […]

Read More ˃