$DOV 2Q15 Call: Energy revenue of $366MM decreased 24%. Engineered Systems revenue of $593MM declined 3% overall. Fluids revenue increased 2% to $352MM. Refrigeration & Food Equipment revenue of $448MM declined 14% from 2Q14.
$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.
$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.