3 Notable Intraday Movers: Freeport-McMoRan (NYSE:FCX), Morgan Stanley (NYSE:MS), Gilead Sciences, (NASDAQ:GILD)

On Thursday, Shares of Freeport-McMoRan Inc (NYSE:FCX), lost -0.42% to $13.01. The stock attained the volume of 25.94 million shares.

Freeport-McMoRan Inc. (FCX) declared that PT Freeport Indonesia (PT-FI) and the Government of Indonesia have engaged in productive talk about regarding PT-FIs long term operating rights and investment plans. The Government is presently developing economic stimulus measures which comprise revisions to mining regulations to promote economic and employment growth.

In consideration of PT-FIs major investments and preceding and ongoing commitments to enhance benefits to Indonesia, counting formerly agreed higher royalties, domestic processing, divestment and local content, the Government has assured PT-FI that the Government will approve the extension of operations beyond 2021, counting the same rights and the same level of legal and fiscal certainty offered under its Contract of Work.

FCX is a premier U.S.-based natural resources company with an industry-leading global portfolio of mineral assets, noteworthy oil and gas resources and a growing production profile. FCX is the worlds largest publicly traded copper producer.

Freeport-McMoRan Inc., a natural resource company, engages in the acquisition of mineral assets, and oil and natural gas resources. It primarily explores for copper, gold, molybdenum, cobalt, silver, and other metals, in addition to oil and gas.

Shares of Morgan Stanley (NYSE:MS), surged 3.29% to $33.61, during its last trading session.

Morgan Stanley Alternative Investment Partners (AIP) has raised over $1 billion in commitments for Private Markets Fund VI (PMF VI). The fund’s strategy is to combine primary funds, co-investments and secondary in one globally diversified portfolio of private equity investments. The capital raise, which is now complete, exceeded AIP’s initial $750 million target.

The objective of PMF VI is to provide investors with superior risk-adjusted returns and exposure to four private equity strategies: buyouts, venture, growth capital, and special situations. AIP’s investment strategy emphasizes less efficient market segments and targets managers who can apply specialized skills to unlock value within the underlying portfolio assets.

Morgan Stanley Alternative Investment Partners (AIP), part of Morgan Stanley Investment Administration, specializes in assisting institutional and high net worth investors achieve their aims through the design and administration of alternative investment programs. AIP’s multi-disciplinary investment teams thoughtfully combine expertise in fund investing, secondaries and co-investing across hedge fund, private equity, real estate and multi-asset class strategies for the benefit of our clients. Solutions comprise diversified and opportunistic multi-manager strategies, multi-asset class portfolios, liquid alternatives and fiduciary administration. As of June 30, 2015, AIP managed total assets of $38.4 billion, counting $10.7 billion in assets in our private equity primary and secondary funds.

Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals worldwide. The company’s Institutional Securities segment offers financial advisory services on mergers and acquisitions, divestitures, joint ventures, corporate restructurings, recapitalizations, spin-offs, exchange offers, leveraged buyouts, takeover defenses, and shareholder relations, in addition to provides capital raising and corporate lending services.

Finally, Gilead Sciences, Inc. (NASDAQ:GILD), ended its last trade with 3.30% gain, and closed at $101.64.

Gilead Sciences, Inc. (GILD) declared that the U.S. Food and Drug Administration (FDA) has approved the use of Letairis® (ambrisentan) in combination with tadalafil for the treatment of pulmonary arterial hypertension (PAH) (WHO Group 1) to reduce the risks of disease progression and hospitalization for worsening PAH, and to improve exercise ability. Letairis is an endothelin receptor antagonist that was first approved in 2007 in the U.S. as monotherapy for PAH to improve exercise ability and delay clinical worsening. Tadalafil is a PDE5 inhibitor that was initially approved for PAH in the U.S. in 2009 to improve exercise ability.

The new labeling is supported by data from the AMBITION study (a randomized, double-blind, multicenter study of first-line combination therapy with AMBrIsentan and Tadalafil in patients with pulmonary arterial hypertensION). In AMBITION, 605 patients with WHO Functional Class II or III PAH were randomized (2:1:1) to receive once-daily Letairis plus tadalafil (n=302) or to Letairis (n=152) or tadalafil (n=151) alone. Treatment was initiated with Letairis 5 mg and tadalafil at 20 mg. If tolerated, tadalafil was raised to 40 mg at four weeks and Letairis was raised to 10 mg at eight weeks. The primary endpoint was time to first occurrence of death, hospitalization for worsening PAH, greater than 15 percent decrease from baseline in six-minute walk distance (6MWD) combined with WHO Functional Class III or IV symptoms sustained over 14 days (short-term clinical worsening) or reduction in 6MWD sustained over 14 days combined with WHO Functional Class III or IV symptoms sustained over 6 months (inadequate long-term clinical response).

In the study, combination therapy with Letairis and tadalafil demonstrated superiority in reducing the risk of the composite primary endpoint by 49 percent and 45 percent, respectively, as compared to monotherapy with Letairis (hazard ratio = 0.51; 95 percent CI: 0.35, 0.73; p=0.0002) or tadalafil (hazard ratio = 0.55; 95 percent CI: 0.37, 0.81; p=0.002). Overall, 20 percent of patients receiving combination therapy practiced a primary endpoint event contrast to 35 percent and 30 percent, respectively, in patients receiving Letairis or tadalafil.

Gilead Sciences, Inc., a biopharmaceutical company, discovers, develops, and commercializes medicines in areas of unmet medical need in North America, South America, Europe, and the Asia-Pacific.

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About Travis Garlick 1759 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.