Corcept Therapeutics Incorporated (NASDAQ:CORT) (MarketWatch)
Shares of Corcept Therapeutics Inc. CORT, -24.10% plunged 21% in premarket trade Monday, after the drug maker disclosed it was informed that Teva Pharmaceutical Industries Ltd. TEVA, -2.80% has submitted a new drug application (NDA) for a generic version of Corcept’s hyperglycemia treatment Korlym. The company said the notice letter it received alleges that the Korlym patents, with expiration dates August 2028 and August 2036, will not be infringed by Teva’s proposed product. Corcept said it intends to “vigorously defend” its intellectual property rights related to Korlym. Teva’s stock fell 2% ahead of the open.
Eyegate Pharmaceuticals Inc (NASDAQ:EYEG) (Benzinga)
Eyegate Pharmaceuticals Inc shares tumbled 42.9 percent to $0.588 after the company announced that EGP-473 did not meet co-primary endpoints.
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Arconic Inc (NYSE:ARNC) (Reuters)
(Reuters) – Arconic Inc (ARNC.N) forecast on Monday 2018 profit and free cash flow below Wall Street estimates as the specialty metal-parts maker spends more to ramp up production to meet rising demand for aircraft-engine components. Shares of the company, which said it was reviewing its businesses, fell as much as 8.6 percent to $26.60. “On the engine ramp, this is one of the biggest challenges that the aviation community has faced,” Chief Executive Officer Chip Blankenship said on a conference call.
Boeing Co (NYSE:BA) (CNBC)
Boeing – Boeing may be interested in bidding for a Canada jet fighter contract despite the ongoing trade dispute involving Canada’s Bombardier, according to a senior executive. Boeing has until February 9 to decide to bid. Separately, UPS placed an order for 14 747-8 freighters, easing doubts about that aircraft’s future.
Wells Fargo & Co (NYSE:WFC) (MarketWatch)
Wells Fargo & Co. says the impact from sanctions put on the bank after a wave of customer account scandals could reduce its profit this year by as much as $400 million. Wells Fargo WFC, -8.53% is replacing four board members and won’t be able to grow beyond the $1.95 trillion in assets it held at the end of 2017, after agreeing to a consent order with the Federal Reserve on Friday. The bank opened millions of customer accounts without consent over a period of years, and it has also been found to have committed additional infractions, such as charging borrowers for unneeded guaranteed auto protection.
TOP SHIPS Inc (NASDAQ:TOPS) (Benzinga)
TOP SHIPS Inc surged 57.7 percent to $0.323 following FY17 results announced late Friday. The company posted net loss of $13.4 million on sales of $39.363 million.
Bristol-Myers Squibb Co (NYSE:BMY) (CNBC)
Bristol-Myers Squibb – The drugmaker reported adjusted quarterly profit of 68 cents per share, one cent a share above estimates. Revenue also beat forecasts and the company announced that its cancer drug Opdivo has been approved for use in patients with a certain type of melanoma. The company also did well in clinical trials as part of a combination treatment with certain lung cancer patients.
Pfizer Inc. (NYSE:PFE) (CNBC)
Pfizer – Pfizer has gotten only two bids for its consumer unit, according to a Bloomberg report. GlaxoSmithKline and Reckitt Benckiser are the only companies to bid, with rival candidates having walked away. Analysts say the unit could be worth between $15 billion and $20 billion.
