JPMorgan Is Invited to Kenya for Eurobond Debut and 2 Other Dow Movers to Watch
JPMorgan Chase & Co. (NYSE:JPM): Current price $52.92
The country with the biggest economy in East Africa — Kenya — has invited JPMorgan to arrange the sale of a debut Eurobond it plans to issue by January, according to its Treasury Secretary Henry Rotich. Subsequent to negotiations to hire the lead manager, which should be completed in the next week or two, the country will begin marketing the securities abroad over about six-weeks, and then issue the dollar-denominated debt, according to Rotich in a Wednesday phone interview Nairobi. Last month, Rotich said that Kenya planned to raise between $1.5 billion and $2 billion to repay a $600-million syndicated loan and finance infrastructure that includes rail links and power-generation projects.
The Boeing Co. (NYSE:BA): Current price $127.60
On Wednesday, Chief Executive Jim McNerney said that Boeing is “making good progress” on improving the dispatch reliability of the 787 Dreamliner, but he also said his company is not satisfied with reliability that presently stand at around 97 percent. McNerney reported that Boeing anticipates launching the 777-8X and 777-9X planes later in 2013, but did not indicate a more precise timetable. Dispatch reliability refers to how often a plane leaves on time, versus being detained by a mechanical matter.
Merck & Co. Inc. (NYSE:MRK): Current price $46.58
Merck reported that the FDA has granted MK-5172/MK-8742 Breakthrough Therapy designation for treatment of chronic hepatitis C virus infection. The drug is an all-oral combination regimen consisting of MK-5172, an investigational HCV NS3/4A protease inhibitor, and MK-8742, an investigational HCV NS5A replication complex inhibitor. Interim data from an current Phase IIB clinical trial examining MK-5172/MK-8742 in genotype 1 infected patients (C-WORTHY Study) is set to be presented at the 64th American Association for the Study of Liver Disease Annual Meeting in Washington D.C., November 1 through 5.