Noticeable Stocks: JPMorgan Chase & Co. (NYSE:JPM), ANI Pharmaceuticals, Inc. (NASDAQ:ANIP), BorgWarner Inc. (NYSE:BWA)

April 26, 2023 3:43 am5 commentsViews: 69

JPMorgan Chase & Co.’s (NYSE:JPM) reported that its Matt Malloy has stepped down as head of institutional solutions as well as advisory, a job that engaged working with asset-management clients for example insurers and pensions, according to a person with knowledge of his departure. JPMorgan hired Malloy in 2010 from Goldman Sachs Group Inc. Assets under management for insurers climbed to more than $70 billion, and he bolstered staff with additions from companies including MetLife Inc. and American International Group Inc. Mary Erdoes, chief executive officer of asset management at the JPMorgan, praised Malloy in February, as she highlighted her group’s work with insurers, endowments and foundations. “They continue to have really outstanding growth,” she said at a presentation. JPMorgan Chase & Co. (NYSE:JPM) stock hit highest price at $68.14, beginning with a price of $67.90 and reported a gain of 1.55% to close at $68.09 with a day range of $67.68-$68.14.

Specialty pharmaceutical company, ANI Pharmaceuticals, Inc. (NASDAQ:ANIP) released that it has purchased 22 previously marketed generic drug products from Israeli generic drugmaker Teva Pharmaceuticals Industries Ltd. (TEVA) for $25M in cash and a percentage of future gross profits from product sales. The deal includes 19 solid-oral dosage products, and 3 oral suspension products. ANI will initially focus to technology transfer four products that qualify as CBE30 filings into ANI’s two manufacturing facilities. ANI Pharmaceuticals, Inc. (NASDAQ:ANIP) stock has highest price of $68.19 in last session, beginning with a price of $64.21 and reported an advance of 7.99% to close at $67.19 with a day range of $63.01-$68.19.

Autoparts maker, BorgWarner Inc. (NYSE:BWA) reported that it has decided to purchase Remy International, Inc. (REMY), a producer of rotating electrical components. According to the terms of the contract, BorgWarner will purchased the outstanding shares of Remy for $29.50 in cash, which implies an enterprise worth of Remy of around $1.2B. James Verrier, President and CEO of BorgWarner said, “Their products and capabilities will strengthen BorgWarner’s position in the rapidly developing powertrain electrification trend. The acquisition will be another step in executing our plan, to profitably grow revenue to $15 billion by 2020.” Shares of BorgWarner Inc. (NYSE:BWA) traded at $54.79 by surging 2.16% with price volatility of 2.64% for a week and 1.68% for a month. Its beta stands at 1.80 times.

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