In 3Q17, T-Mobile’s postpaid phone churn rate year-over-year improved to ~1.2% compared to ~1.3% in 3Q16.
On December 6, 2017, T-Mobile (TMUS) debuted its first stock repurchase program for up to $1.5 billion of its common stock through December 31, 2018.
T-Mobile’s postpaid customer base grew ~11.3% year-over-year to reach ~37.0 million at the end of 3Q17.
T-Mobile reported a 3Q record-low postpaid phone churn rate of ~1.2% in 3Q17, which was lower than the comparable figure of ~1.3% in 3Q16.
Merger talks between Sprint (S) and T-Mobile (TMUS) have collapsed after being unable to find mutually agreeable terms. This move marked the second failed attempt by T-Mobile to merge with Sprint.
In October 2017, the FDA granted BioMarin’s valoctocogene roxaparvovec its Breakthrough Therapy Designation.
In 3Q17, BioMarin’s (BMRN) Aldurazyme generated revenues of $22.4 million, which reflected an ~7.0% decline year-over-year and ~13.0% growth quarter-over-quarter.
In 3Q17, BioMarin (BMRN) generated revenues of $334.0 million, which reflected 19.0% growth year-over-year and 5.0% growth quarter-over-quarter.
On December 4, 2017, Huntsman (HUN) announced that it would pay the remaining $511 million of its Term Loan B due in 2023.
On December 4, 2017, 3M (MMM) in a press release said that it had filed a lawsuit against Kerr Corporation related to its Protect Dental Restorative Technology.
On December 5, 2017, Air Products and Chemicals (APD) announced the beginning of operations of its new plant in the Pukou Economic Development Zone (PKEDZ) in Nanjing in Eastern China.
On December 4, 2017, RPM International (RPM) announced that it has acquired Whink Products via its business group Rust-Oleum.
On December 8, 2017, Ashland (ASH) announced price hikes on a few of its products in the EMEA (Europe, the Middle-East, and Africa) region.
Celanese stock remained flat and closed at $106.54 for the week ended December 8, 2017.
According to a recent report, Citi Investment Research is the largest institutional investor in XLU as of September 30, 2017.
Utility stocks have only marginally underperformed broader markets so far this year.
Broader markets continued to make new highs on the expected tax reforms while utilities fell approximately 1% last week.
In 3Q17, Spectrum Pharmaceuticals (SPPI) raised $114.0 million from the sale of 12.6 million shares through its security offering program.
Spectrum Pharmaceuticals (SPPI) obtained exclusive rights to commercialize Poziotinib from Hanmi Pharmaceutical (HANPF) under an in-license agreement in 2015.
In 2012, Spectrum Pharmaceuticals (SPPI) acquired the rights to market Zevalin outside the US from Bayer for 19 million euros.