General Electric Company (NYSE:GE) (Reuters)
HOUSTON (Reuters) – General Electric Co (GE.N) on Wednesday said it had no plans to exit its investment in oilfield services firm Baker Hughes, A GE Company (BHGE.N), before a two-year lockup period. “Given today’s valuation levels, we see a lot of upside there. We like the macro trends. At this point in time, we have no intent to change anything or execute prior the expiration of any of the lockup periods,” Jamie Miller, chief financial officer for General Electric, said at a Barclays industrial conference. Shares of GE’s Baker Hughes (BHGE.N) rose as much as 5 percent following the comments and last traded up 3.7 percent at $27.44.
LendingClub Corp (NYSE:LC) (CNBC)
LendingClub – LendingClub reported adjusted quarterly profit of 1 cent per share, missing the consensus estimate by a penny a share. The online lender also saw revenue come in below estimates amid increased loan origination and servicing expenses.
Advance Auto Parts, Inc. (NYSE:AAP) (The Motley Fool)
What happened? Shares of Advance Auto Parts (NYSE:AAP), a leading aftermarket automotive parts retailer, are up 11% as of 12:00 p.m. EST after the company released fourth-quarter earnings that topped estimates despite declining year over year. So what: Advance Auto Parts posted revenue of $2.04 billion during the fourthquarter, which topped analysts’ estimates of $2.02 billion. Its bottom line adjusted for one-time items checked in at $0.77 per share and also topped analysts’ estimates calling for $0.65 per share.
Aegean Marine Petroleum Network Inc. (NYSE:ANW) (Benzinga)
Aegean Marine Petroleum Network Inc. shares declined 26.7 percent to $3.30 after the company announced plans to acquire HEC Europe for $367 million and reported preliminary earnings for the fourth quarter.
AbbVie Inc (NYSE:ABBV), Neurocrine Biosciences, Inc. (NASDAQ:NBIX) (MarketWatch)
AbbVie Inc. ABBV, +1.77% and Neurocrine Biosciences Inc. NBIX, +2.65% shares rose 1.7% and 1.1% respectively in premarket trade Wednesday after the companies announced that their drug met its primary endpoint in a phase 3 trial testing it in women with uterine fibroids. The therapy, elagolix, combined with low-dose hormone therapy reduced heavy menstrual bleeding in 68.5% of women, compared with 8.7% of women on the placebo. The phase 3 trial, ELARIS UF-I, is the first of two late-stage studies, and the Wednesday release was based on topline results from a six-month primary analysis. Uterine fibroids affect an estimated 7.5 million U.S. women, and consist of growths in the uterus that can cause heavy bleeding, pain and bladder problems.
