Emerging Stories: Goldcorp Inc. (USA) (GG), GT Advanced Technologies Inc (GTAT), Oracle Corporation (ORCL), Arena Pharmaceuticals, Inc. (ARNA)

Posted In Business, Healthcare, Technology - By Cyrus On Wednesday, September 3rd, 2014 With 0 Comments

Dallas, Texas 09/03/2014 (ustradevoice) – Goldcorp Inc. (USA) (NYSE:GG) announced Tuesday that it halted operations at its mine in Mexico over pit wall instability. The company said that the suspension of mining operations at the El Sauzal mine comes as a safety precaution measure after movement in the high wall slope was reported at the Trini pit. Goldcorp Inc. (USA) (NYSE:GG) went on to say that experts were assessing the situation and its impact on the operations of the mine. The mine was expected to produce 105,000 ounces of gold this year. Shares of Goldcorp declined 4.77% to $26.73 on Tuesday.

GT Advanced Technologies Inc (NASDAQ:GTAT) edged up 1.18% to $18.02 on Tuesday, a development that appears to be supported by the recent positive rating that the stock received from Piper Jaffray. The analysts resumed coverage of the stock with an “overweight” rating and a target price of $23, which is ahead of the consensus target price of $19.65. According to analyst Mike Ritzenthaler of Piper Jaffray, they expect GT Advanced Technologies Inc (NASDAQ:GTAT) to witness improvement in Ebitda within the next two years. He further stated that the expected improvement in Ebitda is linked to the launch of Apple Inc. (NASDAQ:AAPL)‘s iPhone 6.

Oracle Corporation (NYSE:ORCL) failed an attempted to obtain $1.3 billion in damages from rival SAP SE (ADR) (NYSE:SAP). That happened because a U.S. appeals court said the company should either accept a lower amount in the copyright dispute or enter a new trial. A spokeswoman for Oracle Corporation (NYSE:ORCL) declined to state whether they would accept a lower amount of $356.7 million to settle the dispute or seek a second trial.

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) reported that its investigational drug APD811 has been granted orphan drug status by the U.S. Food and Drug Administration. The drug is being developed to treat vasospastic diseases, which include pulmonary arterial hypertension (PAH). APD811 was discovered internally and is also being developed internally by Arena Pharmaceuticals, Inc. (NASDAQ:ARNA). The FDA orphan drug status is granted to promising drugs with potential to treat rare diseases.

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