$PWR said Electric Power segment revenues were $1.16Bil in 2Q16, reflecting a decrease of approx. 5.2% QoverQ. FX negatively impacted revenues by approx. $8MM. Oil and Gas segment revenues decreased QoverQ by 2.6% to $633.3MM in 2Q16.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.
$MRK announced new phase 2 data on investigational triple combination therapy MK-3682B for chronic hepatitis C virus (HCV) genotype (GT) 1 infection for whom treatment with approved direct-acting antiviral regimens had failed.
$LLY announced phase 3 Monarch 3 breast cancer study of abemaciclib demonstrated superior progression-free survival at interim analysis. The trial met its primary endpoint of demonstrating statistically significant improvement in progression-free survival.
$TCB said expenses were higher than revenue in 1Q17 due to a
one-time charge. The company believes that for the remainder of 2017, revenue
growth will exceed the expense growth. $TCB is making some investments in
technology initiatives but in general the company is cognizant about managing
expenses in proportion to its revenues.