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Actionable news in WMT: WAL-MART STORES Inc,

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3:45 am Total S.A. reports start up production of ethylene at Antwerp platform (TOT) :

  • Co announces that its refining and chemicals platform in Antwerp has started up production of ethylene using ethane feedstock, which is extracted from natural gas and is significantly cheaper than oil-derived feedstock.
  • Total has invested nearly $60 million to revamp one of the platform's two steam crackers and to adapt the site's terminal to enable the import of 200,000 tons of ethane per year by ship from Norway.
  • The project optimizes supply by providing flexibility to use either ethane, butane or naphtha as feedstock; advantaged feedstock could therefore account for more than 50% of supply

3:42 am Volvo sells stake in Deutz AG (VLVLY) :

  • The Volvo Group has sold its complete holding in the German listed engine manufacturer Deutz AG.
  • Divestment proceeds amount to SEK1,897 mln, corresponding to SEK62.73 per share (EUR6.50).
  • The sale will result in a capital gain of approximately SEK 350 M that will impact operating income in the third quarter of 2017.
  • Volvo Group has sold 30,246,582 shares, corresponding to 25% of total shares in Deutz.

3:40 am IRSA Inversiones launches of its global public offering of common shares (IRS) :

  • IRSA Propiedades Comerciales S.A. announced the launch of its global public offering of 14,000,000 newly-issued common shares, par value Ps.1.00 per share, which will be represented by ADSs
  • In addition, 14,000,000 common shares are being offered by IRSA Inversiones y Representaciones Sociedad Annima as selling shareholder.
  • The total number of common shares offered for sale in the global offering is subject to reallocation between the international and Argentine offerings.
  • IRSA CP expects that the common shares will be offered at a price between $50.00 and $60.00 per ADS or $12.50 and $15.00 per common share.

3:37 am argenx presents full data from ARGX-111 Phase Ib study; continues to show evidence of anti-tumor activity (ARGX) :

Co announced that its abstract covering the complete data set from its Phase Ib study of ARGX-111 in patients with advanced cancers over-expressing the MET protein was selected as part of the Best of ASCO program at the 3rd Singapore Society of Oncology Annual Scientific Meeting in Singapore.

  • The new data from the Phase Ib study continue to show evidence of anti-tumor activity with ARGX-111 at all dose levels and across different indications.
  • Partial...