Stocks In Focus: SKH, YMI, TUNE
Wednesday, September 08, 2021 8:27 AM

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Skilled Healthcare Group, Inc. (NYSE: SKH) jumped more than 30% in pre-market trading after it announced that it has reached agreement to settle the Humboldt County Class Action. Under the terms of the settlement, the Company will deposit a total of $50 million into escrow accounts to cover settlement payments to class members, notice and claims administration costs, certain service payments to named plaintiffs, plaintiffs' attorneys' fees and costs (to be approved by the Humboldt County Court) and certain other payments. 

YM BioSciences Inc. (AMEX: YMI) on Wednesday announced the publication of Phase I results demonstrating that CYT997, a novel vascular disrupting agent, was well tolerated at doses that were associated with pharmacodynamic evidence of vascular disruption in tumors. The article entitled "Phase I trial of CYT997, a novel cytotoxic and vascular-disrupting agent," was published in the premier cancer journal, the British Journal of Cancer. CYT997 is an orally bioavailable agent with dual mechanisms of vascular disruption and cytotoxicity and has the potential to be broadly active against a range of tumor types. CYT997 is currently in a Phase II clinical trial for glioblastoma multiforme, a brain cancer with poor prognosis, with data expected in Q2 2011.

Microtune, Inc. (NASDAQ: TUNE) on Wednesday agreed to be acquired by Zoran Corporation (NASDAQ: ZRAN) in a deal valued at $166 million, or $2.92 in cash. 

Disclosure: Author doesn't own any of the stocks discussed here.

 

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Market news:

  • Sunnis miss out again in new Iraqi government Nov 11, 2021 06:12 AM

    • BAGHDAD - The deal on a new Iraqi government appears to sideline the country's Sunni minority yet again while returning Shiite Prime Minister Nouri al-Maliki to power.
    • The deal confirmed early Thursday by Massoud Barzani, president of Iraq's autonomous Kurdish region, was hammered out after eight months of political deadlock following inconclusive elections on March 7.
    • A Sunni-backed coalition led by former Prime Minister Ayad Allawi won the most seats in the vote, but Allawi missed out on bids for both the prime minister job and the presidency.
      • Why Fed bond-buying plan is raising trade tensions Nov 11, 2021 06:09 AM

        • WASHINGTON - The Federal Reserve's plan to buy more Treasury bonds has incited critics at home to complain of inevitable high inflation and financial turmoil.
        • They say the Fed's $600 billion program is a scheme to give U.S. exporters an unfair edge - one that endangers the global economy.
        • Whether or not his plan succeeds in aiding the U.S. economy, it risks triggering a trade war and encouraging dangerous speculation in financial markets.
          • Obama gets no trade deal, but has his hands full Nov 11, 2021 05:59 AM

            • SEOUL, South Korea - Despite intense efforts, the United States and South Korea failed Thursday to conclude a long-sought free-trade deal, a setback for President Barack Obama as he confronts tensions abroad and at home on a series of economic fronts.
            • Denied the deal sought by U.S. business, Obama also was forced to defend policies to climb out of the deep economic slump against foreign misgivings that the U.S. is engineering a weak dollar.
            • All in all, Thursday's developments summed up the problems and conundrums facing a president weakened by election results, reeling from a domestic unemployment rate that stubbornly won't budge from 9.6 percent, and facing a restive international community suspicious about the U.S. response to its economic crisis.
              • US homes lost to foreclosure drops 9 pct in Oct. Nov 11, 2021 05:48 AM

                • LOS ANGELES - The number of U.S. homes repossessed by lenders last month fell by the sharpest margin this year, as several major lenders temporarily halted most or all of their foreclosures amid allegations thousands of foreclosures were handled improperly.
                • Home repossessions dropped 9 percent from September to October, foreclosure listing firm RealtyTrac Inc. said Thursday.
                • Lenders such as Bank of America, Ally Financial's GMAC Mortgage and JPMorgan Chase & Co. suspended some or all of their foreclosure activity after the foreclosure documents mess erupted in late September.
                  • Tiger struggles on greens for 69 at Aussie Masters Nov 11, 2021 05:00 AM

                    • MELBOURNE, Australia - Tiger Woods played 14 holes before finally missing a green in the opening round of the Australian Masters, which would seem like the ideal start to defending a title for the last time this year.
                    • Trouble was, he couldn't get a putt close to the hole, which was not the first time that happened this year.
                    • Woods had to settle for a 2-under 69 on Thursday, leaving him four shots behind a trio of players who competed before far fewer fans and had far less trouble on the greens at Victoria Golf Club.

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