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International Business Machines Corp. (NYSE:IBM)has teamed with ESB for the begin the use of a fully integrated smarter charging IT system assisting in the management of electric vehicle public charge-points, currently being introduced across Ireland by ESB Networks. As a team, the two companies will make the process more convenient by allowing EV drivers to access, charge, and pay using an identification card. The project will also give utilities to access energy usage data possibly helping to improve smart grid operations, lower power strain during peak charging times, and ensure reliable energy distribution to customers.
The Goldman Sachs Group, Inc. (NYSE:GS) analyst Jeffrey Currie gave an upbeat report regarding the global commodities market, and the positive outlook regarding commodity prices spanning the next 12 months will probably cause the investment bank to raise its focus on commodities trading in the near future.
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Synta Pharmaceuticals Corp. (NASDAQ:SNTA) announced the results from an interim analysis of the Phase 2b portion of the GALAXY trial, which is a global, randomized, multi-center Phase 2b/3 study that is intended for the evaluation of the effectiveness and safety of the company’s top Hsp90 inhibitor, ganetespib, to be used as a second-line treatment for advanced non-small cell lung cancer. The results indicated good tolerability concerning the combination of ganetespib and docetaxel, and meaningful improvements regarding total survival in adenocarcinoma patients who were treated with docetaxel plus ganetespib versus those receiving docetaxel alone. The GALAXY trial is based on a two-stage, operationally adaptive design. The first-stage, randomized, open-label, 240-patient Phase 2b portion of the trial is in the process of enrolling Stage IIIB/IV NSCLC patients who were able to progress after one former line of therapy, and it is intended to identify the patient population, which are defined by biomarker or other disease characteristic, to further the Phase 3 portion of the trial.
Microsoft Corporation (NASDAQ:MSFT): On Friday, the 9th U.S. Circuit Court of Appeals in San Francisco ruled that Google’s (NASDAQ:GOOG) Motorola Mobility unit will not be able to enforce a patent injunction obtained against Microsoft in Germany. This will likely harm Google’s leverage in the smartphone patent battle, according to Reuters.
Tenet Healthcare Corp.’s (NYSE:THC) new plan includes near-term acquisitions, which will probably reach $400 million, for the enhancement of the company’s primary business lines, like acute care hospitals, outpatient facilities, and business process services. The company has also been authorized for a new $500 million to repurchase common stock in open market transactions. The time and amount of repurchase transactions is to be based on an evaluation of market conditions and share price, along with other factors. Proceeds will be used to minimize the outstanding balance on the Tenet’s bank line, fund near-term acquisitions, retire $216 million of 7.375 percent debt which will mature in February 2013, along with additional general corporate purposes. There will also be a reverse stock split issuing one new THC share in exchange for every four existing shares, effective October 11, 2012.
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