Mesoblast Limited
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MSB Details
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Positive Phase 2 trial Results: Mesoblast Limited (ASX: MSB) stock rose over 6.61% on August 09, 2016 after the company reported that the single intravenous infusion of its proprietary allogeneic Mesenchymal Precursor Cell (MPC) product candidate, MPC-300-IV, has resulted a dose-related improvement in clinical symptoms, physical function, and disease activity relative to placebo through the 12-week primary endpoint in its Phase 2 trial in biologic refractory rheumatoid arthritis. Additionally, MPC-300-IV, is well-positioned to advance via strategic partnership into Phase 3 development for biologic refractory rheumatoid arthritis.
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Recommendation:We give a “Hold” recommendation on the stock at the current price of $1.21
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ACR70 Response (Source: Company Reports)
Australia and New Zealand Banking Group Ltd
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ANZ Details
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Positive Management update: Australia and New Zealand Banking Group Ltd (ASX: ANZ) stock rose 2.88% on August 09, 2016 as its Chief Executive Officer Shayne Elliott gave a positive third quarter 2016 trading update. The Group’s Net Interest Margin (NIM) was stable due to the portfolio rebalancing in Institutional offset by increased funding costs and asset pricing competition. The focus of the bank is on the cost control, balance sheet especially from Asia, as well as on enhancing productivity of the bank by adopting new technology and digitizing of the own processes. For the nine months to June 30, ANZ’s statutory net profit was $4.3 billion while unaudited result to end of June 2015 was $5.58 billion. The cash profit for the third quarter was down by 3% to $5.2 billion. Meanwhile, ANZ stock has risen 8.3% (as on August 08, 2016) in the last six months.
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Recommendation:We give a “Buy” recommendation on the stock at the current price of $26.44
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