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Pfizer (NYSE:PFE) announced that the European Medicines Agency has accepted the Marketing Authorization Application for bazedoxifene/conjugated estrogens, a possible new medicine for postmenopausal women with a uterus in order to treat estrogen deficiency symptoms and to treat osteoporosis for women at risk of fracture. Pfizer believes the European Commission’s decision will be complete during 2013. BZA/CE was studied in a Phase III clinical development program. The most common reactions to the drug seen in the SMART trials were abdominal pain, vaginal yeast infection, and muscle spasms.
Pacific Premier Banc (NASDAQ:PPBI) did not record a provision for loan losses during Q2. The shares closed at $8.88, up $0.33 or 3.86% on the day. They have traded in a 52-week range of $5.50 to $8.60.
Ppg Industries (NYSE:PPG): After it finishes its transactions, expected to occur in late 2012 or early 2013, the combined company should have annual revenues totaling around $5 billion and will be the third-largest chlor-alkali producer and second-largest vinyl chloride monomer producer in North America. President and CEO of the merged companies will be headed by Georgia Gulf President and CEO Paul Carrico and a senior management team built with commodity chemicals employees from both companies. The board of directors will be the eight Georgia Gulf board members as well as three new board members to be assigned by PPG, which includes Michael McGarry, the current senior vice president of PPG’s commodity chemicals business and will continue to be with PPG after the merge. The combined companies will have nearly 6,400 employees working for over 40 facilities, mainly in North America. The merge may have to be approved by Georgia Gulf shareholders as well as being subject to customary closing conditions, relevant tax authority rulings and regulatory approvals Barclays and J.P. Morgan Chase Bank have committed debt financing. PPG Chairman and CEO Charles E. Bunch stated, “We intend to maintain our dividend, and our long heritage of increasing our annual dividend payout.” The shares closed at $111.96, up $7.77 or 7.46% on the day. They have traded in a 52-week range of $66.43 to $107.95.
Raytheon Company (NYSE:RTN): According to independent Senator Joseph Lieberman, the odds against sequestration spending cuts taking place are “overwhelming,” but they could possibly be implemented, reported by Defense News yesterday. The shares closed at $56.86, up $0.06 or 0.11% on the day. They have traded in a 52-week range of $38.35 to $56.90.
Snap-On Inc. (NYSE:SNA) reported a Q2 EPS of $1.30, consensus $1.20. The shares closed at $67.24, up $5.9 or 9.62% on the day. They have traded in a 52-week range of $41.74 to $64.48.
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