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Monday, July 31, 2023

GigaMedia Q2 Net Loss Sharply Narrows

GigaMedia Ltd. (GIGM), a digital entertainment services provider, reported Monday that net loss attributable to GigaMedia for the second quarter halved to $562 million or $0.05 per share from $1.13 billion or $0.10 per share in the prior-year quarter.

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Biogen To Buy Reata Pharma In Around $7.3 Bln Deal; Stocks Move In Premarket

Biotechnology company Biogen Inc. (BIIB) Friday announced its agreement to acquire Reata Pharmaceuticals, Inc. (RETA) for $172.50 per share in cash, reflecting an enterprise value of around $7.3 billion.

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W. P. Carey Q2 AFFO Rises; Narrows 2023 AFFO Guidance Range

W. P. Carey Inc. (WPC) reported second quarter FFO attributable to W. P. Carey of $288.36 million compared to $220.03 million, last year. AFFO to W. P. Carey increased to $293.31 million from $254.37 million. AFFO per share was $1.36, up 3.8% from $1.31.

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Centene Raises 2023 Guidance

Centene Corp. (CNC) increased full year 2023 adjusted EPS guidance by $0.05 to at least $6.45. GAAP EPS is projected to be at least $5.60. The company also increased its 2023 premium and services revenues guidance range by $1.8 billion to reflect an additional $1.0 billion of Medicaid and Commercial premiums as well as $800 million for Medicaid state-directed payments. Premium and service revenues are now expected in the range of $137.0 billion to $139.0 billion. Total revenues are anticipated to be in a range of $147.3 billion to $149.3 billion.

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Sanofi Q2 Profit Rises, Sales Up 3.3% At CER; Raises 2023 Business EPS Guidance

Sanofi (SNYNF, SNY) reported that its second quarter net income attributable to equity holders increased to 1.43 billion euros from 1.17 billion euros, last year. IFRS earnings per share was 1.15 euros compared to 0.94. Second-quarter business net income increased 0.3% to 2.18 billion euros, and increased 8.0% at CER. Business earnings per share was 1.74 euros, up 0.6% on a reported basis, or up 8.1% at CER.

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Johnson & Johnson Raises Guidance For 2023 Adj. Operational EPS, Adj. Operational Sales

Johnson & Johnson (JNJ) reported second-quarter adjusted EPS of $2.80, up 8.1% from a year ago. Adjusted operational sales were up 6.2% from a year ago. Operational growth excluding COVID-19 Vaccine was 8.9%, for the quarter.

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M/I Homes Q2 Profit Rises 12%, Revenue Up 16%

M/I Homes, Inc. (MHO), a builder of single-family homes, reported Wednesday that net income for the second quarter increased to $103.07 million or $3.64 per share from $91.84 million or $3.16 per share in the prior-year quarter.

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