News Review – Advanced Micro Devices, (NASDAQ:AMD), Novartis AG, (NYSE:NVS), Ultra Petroleum Corp., (NYSE:UPL)

September 28, 2020 Travis Garlick NYSE Stocks, Uncategorized Comments Off

On Wednesday, Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD), gained 7.07% to $2.12.

Building on its planned investments in heterogeneous system architecture (HSA), AMD (NASDAQ: AMD) declared a suite of tools designed to ease development of high-performance, energy efficient heterogeneous computing systems. The Boltzmann Initiative leverages HSAs ability to harness both central processing units (CPU) and AMD FirePro™ graphics processing units (GPU) for maximum compute efficiency through software. The first results of the initiative are featured this week at SC15 and comprise the Heterogeneous Compute Compiler (HCC); a headless Linux® driver and HSA runtime infrastructure for cluster-class, High Performance Computing (HPC); and the Heterogeneous-compute Interface for Portability (HIP) tool for porting CUDA-based applications to a common C++ programming model. The tools are designed to drive application performance across markets ranging from machine learning to molecular dynamics, and from oil and gas to visual effects and computer-generated imaging.

AMDs Heterogeneous-compute Interface for Portability enables performance portability for the HPC community. The ability to take code that was written for one architecture and transfer it to another architecture without a negative impact on performance is extremely powerful, said Jim Belak, co-lead of the U.S. Department of Energys Exascale Co-design Center in Extreme Materials and senior computational materials scientist at Lawrence Livermore National Laboratory. The work AMD is doing to produce a high-performance compiler that sits below high-level programming models enables researchers to concentrate on solving problems and publishing groundbreaking research rather than worrying about hardware-specific optimizations.

Advanced Micro Devices, Inc. operates as a semiconductor company worldwide. The company’s products primarily comprise x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete graphics processing units (GPUs), and semi-custom System-on-Chip (SoC) products.

Shares of Novartis AG (NYSE:NVS), inclined 1.20% to $88.47, during its last trading session.

The U.S. Food and Drug Administration has accepted Novartis unit Sandozs submission for approval of a biosimilar version of U.S.-based Amgens Neulasta drug that fights infections in cancer patients, the Swiss group said on Wednesday, according to Reuters.

It marks the companys third biosimilar filing in the United States and the second of 10 regulatory filings planned over the next three years, it said in a statement.

Sandoz said it would seek the same indication as Neulasta, whose generic name is pegfilgrastim.

Amgens third-quarter results last month showed sales of Neulasta up 6 percent to $1.26 billion, topping expectations of $1.17 billion.

The FDA last month accepted Sandozs regulatory submission for approval of a biosimilar copy of Amgens blockbuster Enbrel drug. Reuters Reports

Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. Its Pharmaceuticals division offers patented prescription medicines in various therapeutic areas, such as oncology, cardio-metabolic, immunology and dermatology, retina, respiratory, neuroscience, and established medicines.

Finally, Shares of Ultra Petroleum Corp. (NYSE:UPL), ended its last trade with -1.41% loss, and closed at $4.91.

The stock saw its price movement on below-normal volume, as 2,945,107 million shares changed hands when contrast with its average daily volume of 3.25 million shares, with a year-to-date performance of -62.69%.

Ultra Petroleum Corp., an independent oil and gas company, engages in the acquisition, exploration, development, production, and operation of oil and natural gas properties in the United States. It primarily focuses on developing natural gas reserves in the Green River Basin of Wyoming; oil reserves in the Uinta Basin of Utah; and natural gas reserves in the Appalachian Basin of Pennsylvania.

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