American Electric (NYSE:AEP) CEO Nicholas K. Akins stated, “Our earnings guidance for 2012 remains suspended because of the ongoing Ohio regulatory proceedings. We have received an order from the Public Utilities Commission of Ohio regarding capacity charges, but a decision on the Electric Security Plan, or ESP, isn’t expected until early August.” The shares closed at $41.93, down $0.07 or 0.17% on Friday. They have traded in a 52-week range of $33.09 to $42.00.
Ebay Inc. (NASDAQ:EBAY): Investors were most impressed to see eBay’s net income rise to $692 million (53 cents per share) vs. $283.4 million (22 cents per share) in the same quarter a year earlier, a more than twofold rise from the year-earlier quarter. Additionally, revenue surged 23.1% to $3.4 billion from the year-earlier quarter. eBay Inc. beat the mean analyst estimate of 48 cents per share. Analysts were expecting revenue of $3.36 billion.
Eastern Virginia Ban (NASDAQ:EVBS) has reported a $1.3 million provision for loan losses, and net charge offs total $1.5 million. The shares closed at $4.14, up $0.14 or 3.5% on Friday. They have traded in a 52-week range of $1.50 to $4.41.
Onyx Pharmaceuticals (NASDAQ:ONXX) advances after a rival to the company’s liver cancer treatment did not properly demonstrate statistically significant results in a study. Bristol-Myers’ (NYSE:BMY) brivanib – a liver cancer treatment – did not meet its primary overall survival objective during a Phase III trial. In a note to investors, Leerink Swann wrote that the failure of brivanib reflects a significant positive for the long term outlook of Onyx’s Nexavar. The firm predicts a number of possible catalysts for Onyx coming up. The firm upgraded its rating from Market Perform to Outperform. In early trading, Onyx rose $3.09, or 4.52%, to $71.49. Meanwhile, Bristol Myers dropped 44c, or 1.22%, to $35.71. The shares closed at $76.38, up $7.98 or 11.67% on Friday. They have traded in a 52-week range of $27.17 to $68.98.
Pfizer (NYSE:PFE) announced that the Committee for Medicinal Products for Human Use of the European Medicines Agency developed a positive opinion, and recommended that crizotinib be granted conditional marketing authorization in the European Union, to treat adults suffering from previously treated anaplastic lymphoma kinase-positive advanced non-small cell lung cancer. The positive opinion of the CHMP should be reviewed by the European Commission, who is the authority approving medicines for the European Union. Pfizer waits on a decision from the Commission in the upcoming months. If crizotinib is granted conditional marketing authorization, Pfizer could be required to submit EMA data from the recently completed PROFILE 1007 study, which the company announced in June met its main endpoint in previously treated ALK-positive advanced NSCLC patients. After reviewing the 1007 results by CHMP, the European Commission would consider changing the conditional marketing authorization to a normal marketing authorization. The shares closed at $23.70, down $0.1 or 0.42% on Friday. They have traded in a 52-week range of $16.63 to $23.83.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.