Microsoft to cut 2,850 more jobs Jul 28, 2016 06:21PM

(Reuters) - Microsoft Corp (NASDAQ: MSFT) said it would cut about 2,850 more jobs over the next 12 months, taking its total planned job cuts to up to 4,700, or about 4 percent of its workforce.

The company said in May it would cut 1,850 jobs in its smartphone business, most of them in Finland.

Microsoft bought Finland-based handset maker Nokia in 2014 in an ill-fated attempt to take on market leaders Apple Inc (NASDAQ: AAPL) and Samsung... (continue reading...)

AbbVie (ABBV) Initiates Phase 3 Study of Venetoclax in Patients with Relapsed or Refractory Jul 28, 2016 05:32PM

AbbVie (NYSE: ABBV), a global biopharmaceutical company, today announced the initiation of a Phase 3 clinical trial to study the safety and efficacy of venetoclax in combination with bortezomib and dexamethasone in patients with relapsed or refractory multiple myeloma who are considered sensitive or naïve to proteasome inhibitors and have received one to three prior lines of therapy. The combination of venetoclax, bortezomib and dexamethasone will be compared to... (continue reading...)

Flowserve (FLS) Misses Q2 EPS by 3c, Comments on Realignment Program Jul 28, 2016 04:46PM

Flowserve (NYSE: FLS) reported Q2 EPS of $0.57, $0.03 worse than the analyst estimate of $0.60. Revenue for the quarter came in at $1.03 billion versus the consensus estimate of $1 billion.


Flowserve sees FY2016 EPS of $2.40-$2.60, versus the consensus of $2.50.

Realignment Program

In the 2016 second quarter, Flowserve realized cost savings of approximately $27 million through its realignment program, and continues to expect full year 2016 incremental savings of... (continue reading...)

Axalta Coating Systems (AXTA) Prices 41.6M Secondary Offering at $28.25/Share Jul 28, 2016 04:43PM

Axalta Coating Systems Ltd. (NYSE: AXTA) has announced the pricing of the previously announced sale of 41,621,996 common shares on an underwritten basis by affiliates of The Carlyle Group (“Carlyle”), at a price to the public of $28.25 per share. The last reported sale price of Axalta’s common shares on July 27, 2016 was $28.97 per share. Axalta will not receive any of the proceeds from the offering of shares by Carlyle. Closing of the offering is expected to... (continue reading...)

Expedia (EXPE) plans Tivago IPO Jul 28, 2016 04:37PM

Expedia (NASDAQ: EXPE) plans Tivago IPO

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