Home / Street Sector / Office Depot (NASDAQ:ODP) BOD Authorize A Stock Repurchase Program- Waste Connections (NYSE:WCN), BioMarin Pharmaceutical (NASDAQ:BMRN)

Office Depot (NASDAQ:ODP) BOD Authorize A Stock Repurchase Program- Waste Connections (NYSE:WCN), BioMarin Pharmaceutical (NASDAQ:BMRN)

Office Depot, Inc. (NASDAQ:ODP) [Trend Analysis] attempts to attain leading position in street, Shares price changes as it 1.42% to close at $3.58 with the total traded volume of 10.95 Million shares. Office Depot, Inc. (ODP) announced that the Board of Directors has authorized a stock repurchase program of up to $100 million of its outstanding common stock. The stock repurchase authorization, which is effective immediately, permits the company to repurchase stock from time-to-time through a combination of open market repurchases, privately negotiated transactions, 10b5-1 trading plans, accelerated stock repurchase transactions and/or other derivative transactions.

The program, which extends for a period of 12 months, may be suspended or discontinued at any time. The exact number and timing of share repurchases will depend on market conditions and other factors, and will be funded through existing liquidity. The firm has institutional ownership of 91.40%, while insider ownership included 0.50%. Its price to sales ratio ended at 0.14. ODP attains analyst recommendation of 2.90 with week performance of 3.47%.

Waste Connections Inc. (NYSE:WCN) [Trend Analysis] try to make new thrust in street and making different trends, stocks trading ended with -3.93% to $65.47. Waste Connections (WCN) and Progressive Waste Solutions (BIN) expect merger to close tomorrow. Immediately following the completion of the merger, the consolidation and the name change on June 1, 2016, common shares of New Waste Connections (formerly Progressive Waste Solutions Ltd.) are expected to commence trading on the New York Stock Exchange and on the Toronto Stock Exchange under the symbol “WCN.” The share price of WCN attracts active investors, as stock price of week volatility recorded 2.90%. The stock is going forward to its 52-week low with 44.28% and lagging behind from its 52-week high price with -7.98%.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) [Trend Analysis] climbed reacts as active mover, shares a gain 0.63% to traded at $89.65 and the percentage gap between open changing to regular change was 0.29%. BioMarin (BMRN) withdraws market authorization application for Kyndrisa (drisapersen) in Europe. BioMarin Pharmaceutical has withdrawn its Kyndrisa (drisapersen) Marketing Authorization Application from the European Medicines Agency following discussions at the May 2016 Committee for Medicinal Products for Human Use meeting. Those discussions clearly indicated that the CHMP intended to issue a negative opinion. Kyndrisa is an experimental drug for the treatment of Duchenne muscular dystrophy amenable to exon 51 skipping.

Based on discussions at the CHMP meeting and the Food and Drug Administration Complete Response Letter in January, BioMarin intends to discontinue clinical and regulatory development of Kyndrisa as well as the three other first-generation follow-on products, BMN 044, BMN 045 and BMN 053, currently in Phase 2 studies for distinct forms of Duchenne muscular dystrophy. Notwithstanding this outcome for Kyndrisa in Europe, the Company continues to expect to achieve non-GAAP break-even or better in 2017. The firm’s current ratio calculated as 2.60 for the most recent quarter. The firm past twelve months price to sales ratio was 15.42 and price to cash ratio remained 31.20. As far as the returns are concern, the return on equity was recorded as -8.10% , while its return on asset stayed at -5.20%. The firm has total debt to equity ratio measured as 0.29.

About Blake Escott

Blake Escott holds junior writer position in SWR. Before joining Streetwise Report, he was a freelance content Writer. He has high-level copywriting experience and particularly experienced in proofreading and editing. He covers news about different companies including all US market sectors. Interests: Commodities, Energy stocks, Sector-wise Stocks analysis, Utilities

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