Arena Pharmaceuticals‘ (NASDAQ:ARNA) Lorcaserin, an investigational pharmaceutical candidate planned to address weight management, is a recently developed chemical entity that is thought to serve as a selective serotonin 2C receptor agonist. This receptor originates in the brain, including the hypothalmus, a region thought to be integral in the regulation of appetite and metabolism. Arena possesses patents that cover Lorcaserin in the U. S., Europe and other regions that in most situations are able to persist into 2023 without considering any patent term extensions or additional exclusivity Arena might attain. The FDA is expected to rule on Lorcaserin by June 27.
Garmin Ltd.‘s (NASDAQ:GRMN) shares are further reduced now due to Apple’s TomTom deal, support at $37.36. Doughterty upgraded the company’s shares to Buy from Neutral, referencing valuation after reports that Apple will permit new software to be downloaded to iPhones and iPads that includes a new Maps app. Dougherty holds that shares are oversold and that the possible impact may be between $0 and $3 per share. Price target is $47. Garmin shares are trading higher by 3.65% today.
Featured Reading: Will Apple Pull the Plug on Garmin?
FactSet Research Systems Inc. (NYSE:FDS): Shares of FactSet are trading lower by 9.34% today. FQ3 EPS of $1.05 beats by $0.01, with revenue of $202M (+10.2 Y/Y) in-line. Shares of FactSet Research are trading 9.43% lower today.
Michael Kors Holdings Ltd (NYSE:KORS): Net profit for Michael Kors is up to $43.6M from $13.6M, thanks to impressive performance across the clothing company’s retail, wholesale and licensing ops. Guidance is: FQ1 EPS of $0.18-$0.20 vs. consensus of $0.17, and revenue of $360M-$370M vs. $323.98M; FY EPS of $1.08-$1.12 vs. $0.69, and revenue of $1.7B-$1.8B vs. $1.28B. Shares have risen 13.4%. The company is reporting plans to open 70 stores in the FY. Shares of Kors are trading 4.48% higher today.
Frontier Communications (NYSE:FTR) is providing broadband service to around 780 more households in the Fort Gay area of Wayne County. Frontier’s work there symbolizes the company’s dedication to expand broadband service in West Virginia. The company has provided such service to 117,000 more households in that state since July 2010, when it took on markets in 14 states from Verizon (NYSE:VZ).
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