Statoil ASA(ADR)(NYSE: STO) stock fell 0.52% to $24.66. Standard & Poor's Ratings Services (S&P) announced credit ratings for Statoil ASA at AA-/A-1+ with stable outlook. The ratings reflect the Group's stand-alone credit profile, which S&P assesses at 'a+'. S&P assesses Statoil's business risk profile as "strong" and financial risk profile as "modest." The ratings include one notch of uplift to reflect extraordinary state support from the Kingdom of Norway, 67%-owner. The short-term rating is 'A-1+'.
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Telik, Inc.(NASDAQ: TELK) shares climbed 38.64% to $2.47 in the early hour. The company announced the publication of a clinical trial abstract in the proceedings of the 54th Annual Meeting of the American Society of Hematology in Atlanta, Georgia. The abstract, "Oral Ezatiostat HCl (Telintra), a Glutathione Analog Prodrug GSTP1-1 Inhibitor, for Treatment of Patients with Myeloid Growth Factor-Resistant Idiopathic Chronic Neutropenia (ICN).
Oncolytics Biotech, Inc. (USA)(NASDAQ: ONCY) shares soared 71.88% to $3.68 in the morning hour after the company announced initial positive top line data from the first endpoint in its double-blinded randomized Phase III clinical study examining REOLYSIN in combination with carboplatin and paclitaxel in second-line patients with platinum-refractory, taxane-naïve head and neck cancers (REO 018). The endpoint examines initial percentage tumour changes between the pre-treatment and first post-treatment scans (typically performed at six weeks post-first treatment) of all patients enrolled in the study.
Best Buy Co., Inc.(NYSE: BBY) stock gained 17.49% to $14.34. The company’s founder Richard Schulze is expected to make a fully financed offer to buy the consumer electronics retailer by a mid-December deadline. Schulze's bid would be at least $5 billion to $6 billion.
Additionally, Bank of America announced that they have downgraded electronics retailer, Best Buy Co. The firm, which did not have a previous rating on the company, reported that they have downgraded BBY to a “Underperform,” and have given the company a $9 price target.
CVS Caremark Corporation(NYSE: CVS) stock increased 3.60% to $49.26 after the company reaffirmed its guidance for the full-year 2012, and also boosted its quarterly dividend by about 38%.
The company said it continues to expect fiscal 2012 earnings in a range of $3.38 to $3.41 per share. Analysts expected the company to report earnings of $3.40 per share for fiscal 2012.
Additionally, the company said its board has approved an increase in its quarterly dividend of about 38% to $0.225 per share on the common stock of the company, payable on February 4 to holders of record on January 24, 2013.
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