Up to Date Stocks News Review: Wells Fargo & Company (NYSE:WFC), AbbVie Inc. (NYSE:ABBV), McDermott International Inc. (NYSE:MDR)

On Wednesday, Shares of: Wells Fargo & Company (NYSE:WFC), lost -1.13% to $55.08.

Despite rate reductions and low investment returns, commercial lines insurance is on track for positive underwriting gains in 2016. Favorable losses across most insurance lines and lack of multiple catastrophic property losses are driving this trend, according to the annual 2016 Market Outlook issued by Wells Fargo Insurance, part of Wells Fargo & Company (WFC). The report forecasts market conditions for a wide variety of product segments, counting liability, workers’ compensation, environmental, international, technology, and cyber.

“2015 was another buyer’s market for both property and casualty commercial insurance and associated lines, with rate decreases from medium- to- high single digits to low double digits,” said Doug O’Brien, Casualty & Alternative Risk National Practice leader. “Barring any catastrophic events, we expect similar trends will continue in 2016 for a majority of industries and coverage lines. Rate decreases are predictable in the mid- to- high single digit range for most lines as new and existing capital is deployed into the property and casualty market.”

Wells Fargo & Company provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. Its Community Banking segment offers checking, savings, market rate, individual retirement, and health savings accounts, in addition to time deposits and remittances; and lines of credit, auto floor plan lines, equity lines and loans, equipment and transportation loans, education and residential mortgage loans, and debit and credit cards.

Shares of AbbVie Inc. (NYSE:ABBV), declined -2.20% to $57.72, during its last trading session.

AbbVie declared its New Drug Application (NDA) has been accepted by the U.S. Food and Drug Administration (FDA) for a once-daily, fixed-dose formulation of the components of VIEKIRA PAK® (ombitasvir, paritaprevir, and ritonavir tablets; dasabuvir tablets). VIEKIRA PAK is an all-oral, interferon-free treatment approved with or without ribavirin (RBV) in the United States for patients with genotype 1 (GT1) chronic hepatitis C virus (HCV) infection, counting those with compensated cirrhosis. VIEKIRA PAK is not for people with decompensated cirrhosis.

The projected dosing for the fixed-dose formulation (dasabuvir, ombitasvir, paritaprevir, ritonavir tablets) is three oral tablets once daily with a meal, with or without twice-daily RBV, potentially offering another important treatment option for people living with GT1 HCV. The NDA filing is supported by data from two bioavailability studies. Presently, VIEKIRA PAK is taken twice daily as three tablets in the morning and one tablet in the evening, taken with a meal.

The Centers for Disease Control and Prevention (CDC) estimates that in the United States, about 2.7 million people are chronically infected with HCV.i Genotype 1 is the most prevalent form of HCV in the U.S., accounting for about 74 percent of all cases.ii Hepatitis C is inflammation of the liver caused by an infection with HCV. It is transmitted when an infected persons blood enters the bloodstream of an uninfected person. There are six major HCV genotypes (GT1-6). Presently, there is no vaccine for HCV infection.

AbbVie Inc. discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company’s products comprise HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; VIEKIRA PAK, an all-oral, short-course, interferon-free therapy, with or without ribavirin, for adult patients with genotype 1 chronic hepatitis, counting those with compensated cirrhosis; Kaletra, an anti-HIV-1 medicine used with other anti-HIV-1 medications as a treatment that maintains viral suppression in people with HIV-1; Norvir, a protease inhibitor indicated in combination with other antiretroviral agents to treat HIV-1 infection; and Synagis to prevent respiratory syncytial virus infection in high risk infants.

Finally, Shares of McDermott International Inc. (NYSE:MDR), ended its last trade with -4.33% loss, and closed at $4.20.

McDermott International launched a new web presence (www.mcdermott.com) to enhance the McDermott experience for clients, investors, suppliers, employees and potential members of the Company’s global team.

“For more than 90 years, the name McDermott has resonated throughout the energy, oil and gas and offshore industries for its approach to safety, project certainty and innovative solutions,” said David Dickson, President and Chief Executive Officer.

“In a changing global landscape, engaging with our key stakeholders to keep them connected and involved in the McDermott story is business critical,” Dickson said. “Our robust, improved web presence is compatible with the latest in tablet, smartphone and mobile technologies to support our global team, from Investor Relations to Business Development to Supplier Relations.”

McDermott International, Inc. operates as an engineering, procurement, construction, and installation company worldwide. The company operates through three segments: Asia Pacific, Americas, and the Middle East. It focuses on designing and executing offshore oil and gas projects.


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About Travis Garlick 1812 Articles
Been writing about and trading stocks since 2013. Manage a group of micro-cap investors on Facebook with over 15,000 members. Turned $8,500 into 185k the first year I started trading stocks and haven't looked back.