During Friday’s Morning trade, Shares of Universal Insurance Holdings, Inc. (NYSE:UVE), lost -0.26% to $19.28.
Universal Insurance Holdings, declared that its Board of Directors authorized a share repurchase program under which the Company may repurchase up to $10 million of its outstanding shares of common stock through December 31, 2016. The Company may repurchase shares from time to time in its discretion, based on ongoing assessments of the capital needs of the Company, the market price of its common stock and general market conditions. The Company will fund the share repurchase program with cash from operations.
Universal Insurance stated record results in the third quarter of 2015 and our business remains robust, said Sean P. Downes, the Companys Chairman, President and Chief Executive Officer. This new $10 million share repurchase program underscores our confidence in our strategy, the long-term prospects of our business and our strong financial position and cash flow capabilities. The Company will continue to regularly review its capital allocation to ensure it is best positioned for growth and shareholder value creation.
Share repurchases may be made by the Company from time to time in open market transactions at prevailing market prices and are subject to relevant rules under the Securities Exchange Act of 1934, as amended (Exchange Act). The Company will effect repurchase transactions in compliance with Rule 10b-18 under the Exchange Act and the Companys insider trading policy. Universal Insurance Holdings, Inc., through its auxiliaries, provides various property and casualty insurance products. The company primarily underwrites homeowners insurance products; and offers reinsurance intermediary brokerage services.
Shares of Gilead Sciences, Inc. (NASDAQ:GILD), inclined 1.32% to $107.84, during its current trading session.
Following the recommendation by an independent Data Monitoring Committee (DMC), Gilead Sciences, declared that its Phase 3 Study 115 evaluating Zydelig® (idelalisib) added to standard therapy in formerly-treated chronic lymphocytic leukemia (CLL) patients will be unblinded early. The DMC recommendation is based upon a predefined interim analysis indicating a statistically noteworthybenefit in efficacy for progression-free survival (PFS) and overall survival (OS) in patients receiving Zydelig plus bendamustine and rituximab, contrast to those receiving only bendamustine and rituximab. The safety profile of Zydelig was compriseent with preceding studies. Detailed results from this study will be presented during a late-breaking abstracts session (#LBA-5) at the Annual Meeting of the American Society of Hematology (ASH) in Orlando, Florida taking place December 5-8.
Zydelig is approved in the United States in combination with rituximab for patients with relapsed CLL for whom rituximab alone would be considered appropriate therapy due to comorbidities.
“The clinical benefit observed in this Phase 3 study adds to the body of evidence demonstrating the potential of Zydelig-containing treatment regimens for patients with formerly treated CLL,” said Norbert W. Bischofberger, PhD, Gilead’s Executive Vice President, Research and Development and Chief Scientific Officer. “We look forward to sharing the detailed scientific data with the hematology community at the forthcoming ASH meeting.”
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.
Finally, Shares of Hecla Mining Company (NYSE:HL), lost -2.78%, and is now trading at $1.92.
Hecla Mining Company’s, Vice President – Investor Relations, Mike Westerlund, will present at The Silver Summit in San Francisco on Monday, November 23, 2015, at 5:15 p.m. ET. A PDF of the presentation will be available on the Company’s website at www.hecla-mining.com.
Mike Westerlund, Vice President – Investor Relations, will also take part in a panel negotiation at the Scotiabank Mining Conference in Toronto on Wednesday, December 2, 2015, at 9:00 a.m. ET.
Hecla Mining Company, together with its auxiliaries, discovers, acquires, develops, produces, and markets precious and base metal deposits worldwide. The company offers unrefined gold and silver bullion bars to precious metals traders; and lead, zinc, and bulk concentrates to custom smelters and brokers.