Business

LogMein Surges in Late Trade After Third-Quarter Sales, Earnings Beat Market Forecasts

Shares of LogMein (LOGM), a provider of communication and support services, jumped late on Thursday after the firm reported earnings and sales that beat analysts’ expectations for the third quarter as it said that renewal rates returned to ‘historical levels’ in its communications and collaboration business. Sales rose to $308.9 million during the three months that ended September 30, from […]

Cameco Obtains Favorable Ruling From Canadian Tax Court – Shares Up 8% Pre-Bell

Cameco (CCJ) shares were up almost 8% pre-market Thursday after the company said late Wednesday that the Canadian tax court has ruled unequivocally in its favor in a dispute of the reassessments issued by Canada Revenue Agency for 2003, 2005 and 2006 tax years. The court has ruled that the company’s marketing and trading structure involving foreign subsidiaries and the […]

Geron Plunges 66% Pre-Bell As Janssen Ends Collaboration Deal, Will No Longer Fund Trials

Geron (GERN) was down more than 66% in Thursday’s pre-market session as Johnson & Johnson’s (JNJ) Janssen Biotech unit terminated the companies’ 2014 collaboration and license agreement. Janssen made this decision as the result of a strategic portfolio evaluation and prioritization of assets, Geron said. Geron has regained the global rights to develop and commercialize imetelstat, a drug being developed […]

Kemper Unit Wins Arbitration Award Against Computer Sciences

Kemper (KMPR) said late Wednesday that its subsidiary, Kemper Corporate Services, Inc., has won an arbitration award in the amount of $141.7 million against Computer Sciences Corp. and its parent company, DXC Technology (DXC). Back in November, the arbitration court found that Computer Sciences had breached a contract for the delivery of certain policy administration and billing software. Kemper sought […]

Saga Profit Advances in First Half as Operating Expenses Contract

Saga, a British specialist in products and services for the over 50s, posted an increase in its pre-tax profit in the first half of its fiscal year as a more efficient operating structure helped lower operating expenses across the business. The company, which provides cruises, holidays and insurance products to quinquagenarians and those older, posted pre-tax profit of 109 million […]

Foundation Building Materials Divests Mechanical Insulation Business For $122.5 Mln

Foundation Building Materials (FBM), a specialty distributor of wallboard, suspended ceiling systems and mechanical insulation, said early Thursday that it has entered into a definitive agreement to sell its Mechanical Insulation segment to an affiliate of Dunes Point Capital, LP, for $122.5 million, subject to customary closing conditions. The transaction is expected to close in Q4. The company said that […]

Asian Stock Markets Mixed, Lower on Central Bank Outlook

Asian stock markets were mostly weaker on Thursday as traders eyed a string of Asian central banks in the rate-hike mode, possibly resulting in higher bond yields and lower property-developer gains in coming seasons. The Hong Kong, Indonesia and Philippines central banks all raised rates in reaction to the Wednesday US Federal Reserve rate increase, although the People’s Bank of […]