J.C. Penney Lands a Loan, Protalix Rides on Approval, and 3 Other Hot Stocks

J.C. Penney (NYSE:JCP): It appears that all the shuffling and negotiating has paid off, as the retailer was able to land $1.75 billion in loans with a five-year structure that uses its real estate holdings as collateral. Outstanding debt will now be able to be paid off, and the company can finance its ongoing working capital requirements.

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JCP

Protalix BioTherapeutics (AMEX:PLX): Type I Gaucher disease treatment UPLYSO has garnered approval for use in Chile and Mexico, sending the shares of Protalix up almost 5 pecent. The drug has already been approved in the U.S., Israel, and Brazil, and is developed and commercialized in collaboration with Pfizer (NYSE:PFE).

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PLX

Banco Santander SA (NYSE:SAN): CEO Alfredo Saenz has announced that he will be stepping down from his post at the bank, to be replaced by Javier Marin. His resignation comes after a long legal battle that centered over the argument that criminal records had an affect on the ability to work in banking. The 70 year-old Saenz is  handing the reigns to the 46 year-old Marin, who was head of the global insurance, asset management and private banking division.

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SAN

Merck & Co. (NYSE:MRK): Merck has entered in to a 60/40 deal with Pfizer (NYSE:PFE) to co-develop and commercialize ertugliflozin, an “investigational oral sodium glucose cotransporter (SGLT2) inhibitor” being evaluated for the treatment of type 2 diabetes. Under the deal, Pfizer receives $60 million up front, and may be entitled to additional payments down the road.

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MRK

Don’t Miss: Is J.C. Penney Getting a $1.75 Billion Band-Aid?

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