On Wednesday, Shares of Lowe’s Companies, Inc. (NYSE:LOW), added 1.75% and closed at $71.32 in the last trading session. The last trading range of the stock ranges between $70.25 and $71.76. The company’s Market capitalization is $61.61 Billion with the total Outstanding Shares of 874.66 million. During the 52-week trading session the minimum price at which share price traded, registered at $62.62 and reached to max level of $83.65. Lowe’s Companies, Inc. (LOW) (“Lowe’s”) and RONA inc. (RON.TO)(RON-PA.TO) (“RONA”) declared recently that Lowe’s, through a wholly owned partner, and RONA have reached a definitive agreement for the acquisition of RONA’s outstanding Cumulative 5-Year Rate Reset Series 6 Class A Preferred Shares and Cumulative Floating Rate Series 7 Class A Preferred Shares (collectively, the “Preferred Shares”) for C$24 per share in cash following a plan of arrangement under the Business Corporations Act (Québec).
The board of directors of RONA, after consultation with its financial and legal advisors, has unanimously approved the transaction and has resolved to unanimously recommend that holders of the Preferred Shares (the “Preferred Shareholders”) vote in favour of the transaction at a meeting of Preferred Shareholders to be held to consider the transaction. RBC Capital Markets has offered a fairness opinion to RONA’s board of directors that, subject to the assumptions, limitations and qualifications set out in such fairness opinion, and as of the date of such opinion, the consideration under the transaction is fair from a financial point of view to the Preferred Shareholders.
PulteGroup, Inc. (NYSE:PHM), jumped 0.36% and closed at $19.75 in the last trading session. The last trading range of the stock ranges between $19.63 and $19.90. The company’s Market capitalization is $6.70 Billion with the total Outstanding Shares of 343.62 million. During the 52-week trading session the minimum price at which share price traded, registered at $14.61 and reached to max level of $22.40.` PharmaMar (PHM) has declared the positive results of its Phase II study of lurbinectedin (PM1183) in patients with BRCA 1 / 2 -associated metastatic breast cancer, who had formerly received a maximum of 3 prior chemotherapy regimens.
About, 5-10% of breast cancers are associated with the BRCA 1 or 2 hereditary mutations. For the moment the treatment of these patients is similar to any other type of breast cancers, that is mainly conditioned by their hormone receptor and HER2 status. However, recent studies around the mutation demonstrate that these types of tumors behave differently in breast cancer, therefore, the patients harboring these mutations could benefit from a more specific treatment.
Doctor Judith Balmaña, oncology expert from the Vall D´Hebron Institute of Oncology, and principal investigator of the trial, presented the data at an oral session at the European Society of Medical Oncology (ESMO) Congress, being held in Copenhagen, Denmark, that started on the 7th and running to the 11th of October.
Penn West Petroleum Ltd (USA)(NYSE:PWE), lost -2.90% and closed at $1.84 in the last trading session. The last trading range of the stock ranges between $1.84 and $1.90. During the 52-week trading session the minimum price at which share price traded, registered at $0.48 and reached to max level of $1.97. Troubled Canadian energy producer Penn West Petroleum Ltd named David French as its chief executive, replacing Dave Roberts, who has been in the role since 2013.
French, most recently CEO of Bankers Petroleum Ltd, has also held several executive roles at Apache Corp.
Penn West said in May that it may default on its financial covenants at the end of the second quarter and raised doubts about its ability to continue as a going concern.
However, the company said in June it was in compliance with all of its financial covenants and removed the going-concern note included in the first-quarter financial statements.source reuter