On Monday, Shares of JPMorgan Chase & Co. (NYSE:JPM), added 1.77% and closed at $65.54. The last trading range of the stock ranges between $64.83 65.55.
J.P. Morgan Asset Management declared that its newest ETF, the JPMorgan Diversified Return Europe Equity ETF (JPEU), will officially start trading recently. Further expanding J.P. Morgans planned beta suite, JPEU is the fifth product offered since the launch in June 2014.
JPEU is designed to serve as the foundation of a developed Europe equity portfolio, combining portfolio construction with stock selection in an effort to produce higher returns with lower volatility than traditional market cap-weighted indices. Similar to its predecessors, the ETF seeks to diversify risk across sectors and build a portfolio that excludes expensive, low quality companies with weak momentum characteristics.
The ETF tracks the FTSE Developed Europe Diversified Factor Index, which is rebalanced on a quarterly basis and was thoughtfully constructed based on J.P. Morgans active insights and risk administration expertise. The fund is managed by an practiced J.P. Morgan team, with James Ford and Richard Morillot as co-managers. J.P. Morgan has been investing in European markets since 1964 and manages $37B in European equities.
Valeant Pharmaceuticals International, Inc. (NYSE:VRX), jumped 0.22% and closed at $108.76 in the last trading session. The company’s market capitalization is $37.11B.
Buried in the details of a new 20-year distribution agreement between Valeant Pharmaceuticals International Inc. and Walgreens Boots Alliance Inc. is a $150 million financial hit to Valeant that underscores the unusual nature of the deal, according to WSJ.
The amount reflects the one-time revenue impact on Valeant of the drug-distribution pact, according to a Valeant presentation last week to analysts and investors.
Essentially, Valeant is buying back its own drugs from Walgreens and then reselling them on consignment to the pharmacy, said a person familiar with the matter. The transaction is a title swap because Walgreens isn’t returning the drugs, that person said.
The $150 million revenue impact comprises the value of the drugs that are shifting to consignment status, the person said, and Valeant isn’t paying a premium to take back title of the drugs. WSJ Reports
Shares of Integrated Device Technology, Inc. (NASDAQ:IDTI), ended its last trade with 0.34% gain, and closed at $26.92. The average Volume of the company is at 3,052,230. The EPS of the company stands at $0.89.
Integrated Device Technology declared that it has developed with the European Organization for Nuclear Research (CERN) a low-latency platform to speed and improve the administration of analytics at the organizations Large Hadron Collider (LHC) and data center. Developed at IDTs Open HPAC Lab and built upon the companys RapidIO® technology, the platform marks the first major milestone in the three-year partnership IDT and CERN openlab declared in March.
CERN openlab is a unique public-private partnership that accelerates the development of cutting-edge solutions for the worldwide LHC community and wider scientific research. Through CERN openlab, CERN collaborates with leading ICT companies and research institutes.
The key to achieving better data analytics performance is having superior real-time interconnect with low, deterministic latency, said Alberto Di Meglio, head of CERN openlab. With its optimized usage of interconnects and processor resources, this first deliverable in our partnership with IDT will provide us with the baseline computing platform that will scale to enable better usage of our analytics data.
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