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 the 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 organization’s Large Hadron Collider (LHC) and data center. Developed at IDTs Open HPAC Lab and built upon the company 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.
This article is published by www.stocksnewswire.com. The content included in this article is just for informational purposes only. Stocksnewswire.com takes sensible consideration to ensure that the data given in this article is up to date and accurate. The news, prices, opinions, research, analysis, and other information published in this article are obtained from sources believed to be reliable.
Neither Stocksnewswire.com nor any of Stocksnewswire.com partners make any representation or guarantee as to the fulfillment or precision of the information contained in this article.
Investors must consult their own additional due diligence with any potential investment or highlighted company before making any decision on behalf of the information offered by Stocksnewswire.com.
Information contained in this article may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long-term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward-looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements may be identified with such words as expects, will, anticipates, estimates believes, or by statements indicating certain actions may, could, should/might occur.