Pacira BioSciences Reports Second Quarter 2020 Financial Results and Business Update

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— EXPAREL average daily sales return to year-over-year growth in month of June 2020 —
— Conference call today at 8:30 a.m. ET —

PARSIPPANY, N.J., Aug. 06, 2020 (GLOBE NEWSWIRE) — Pacira BioSciences, Inc. (Nasdaq: PCRX), a leading provider of innovative non-opioid pain management options, today reported financial results for the second quarter of 2020.

“We are very pleased to report that since the peak of the impact from COVID-19 in April, we’ve seen a steady and continued increase in EXPAREL sales. This is a testimony to the resolve of our physician partners who are dedicated to ensuring that patients receive their much-needed surgeries, particularly in the ambulatory setting,” said Dave Stack, chairman and chief executive officer of Pacira BioSciences. “This pandemic has accelerated the shift of inpatient procedures to the 23-hour stay environment and we are well positioned to lead the way with our innovative opioid alternatives.”

“Today,

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Provention Bio Reports Second Quarter 2020 Financial Results and Provides Business Update

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– Completed commercial-scale drug substance PPQ campaign ahead of schedule, enabling the expected on-time completion of the rolling Biologics License Application (BLA) submission for teplizumab in Q4 2020 –

– Expect to submit clinical module of rolling BLA for teplizumab in Q3 2020 –

– Extended follow-up results from the pivotal “At-Risk” TN-10 Study presented at ADA demonstrated that teplizumab significantly delays the onset of insulin-dependent T1D by a median of approximately three years compared to placebo –

OLDWICK, N.J., Aug. 6, 2020 /PRNewswire/ — Provention Bio, Inc. (Nasdaq: PRVB), a clinical-stage biopharmaceutical company dedicated to intercepting and preventing immune-mediated disease, today reported financial results for the second quarter ended June 30, 2020 and provided a business update.

(PRNewsfoto/Provention Bio, Inc.)

“In the past few months, we have achieved tremendous progress in support of our efforts to advance teplizumab toward the market for the delay or prevention of

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Lincoln Financial Group Reports Second Quarter 2020 Results

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RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today reported net loss for the second quarter of 2020 of $(94) million, or $(0.49) per diluted share available to common stockholders, compared to net income in the second quarter of 2019 of $363 million, or $1.79 per diluted share available to common stockholders. Second quarter adjusted income from operations was $187 million, or $0.97 per diluted share available to common stockholders, compared to adjusted income from operations of $478 million, or $2.36 per diluted share available to common stockholders, in the second quarter of 2019.1

“Second quarter results were impacted by elevated claims experience from COVID-19 and negative returns within our alternative investment portfolio, consistent with our expectations,” said Dennis R. Glass, president and CEO of Lincoln Financial Group. “Based on what we know today, we expect earnings to recover to more normal levels in the third quarter, excluding

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PennyMac Financial Services, Inc. Reports Second Quarter 2020 Results and Increases Quarterly Dividend

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WESTLAKE VILLAGE, Calif.–(BUSINESS WIRE)–PennyMac Financial Services, Inc. (NYSE: PFSI) today reported net income of $352.7 million for the second quarter of 2020, or $4.39 per share on a diluted basis, on revenue of $821.6 million. Book value per share increased to $34.26 from $29.85 at March 31, 2020.

PFSI’s Board of Directors declared a second quarter cash dividend of $0.15 per share, a 25 percent increase from the prior quarter, payable on August 28, 2020, to common stockholders of record as of August 17, 2020.

Second Quarter 2020 Highlights

  • Pretax income was $480.4 million, up 16 percent from the prior quarter and 382 percent from the second quarter of 2019
    • Record earnings driven by core production and servicing results partially offset by fair value losses on mortgage servicing rights (MSRs) and associated hedging and other losses
    • In June, repurchased approximately 7 million shares of PFSI’s common stock (approximately
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Fintech Greenlight is building ways to let kids invest in stocks

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  • Greenlight, the personal financial management app for kids and parents, has seen its user base double since the start of the year.
  • With this growth, Greenlight is building an investing product, where kids can propose stock and ETF trades to their parents.
  • “To build true wealth, you really need to learn how to invest,” Tim Sheehan, cofounder and CEO of Greenlight, told Business Insider. “So we want the kids to try to learn that as early as they can, and to do it in a supervised environment.”
  • Greenlight is backed by investors including JPMorgan Chase, and Wells Fargo.
  • Visit Business Insider’s homepage for more stories.

A personal finance app for kids that’s managed by their parents has doubled its user base in the first half of this year.

Greenlight, which currently offers debit cards and savings accounts, is eyeing more financial products to launch for its parent and child users

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Former business minister Margot James joins board of doorstep lender Provident Financial

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Former Conservative minister Margot James has joined the board of doorstep lender Provident Financial after stepping down from Parliament last year. 

Ms James will serve as a non-executive director at the company, which hands out high interest credit cards and loans to borrowers with a poor repayment history and is widely known as ‘the Provvy’.

She served as an MP from 2010 to 2019 and held a number of government offices, including as small business minister and digital minister under Theresa May. 

The politician stoked controversy last year by saying it would be “a bad thing for the country” if the Conservatives won a majority in the general election. She said the best government she ever served in was during the Coalition, where the Liberal Democrats “acted as a very necessary break on our party’s right wing obsession with Brexit”.

The Stourbridge MP was also one of the 21 Tory

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KBRA Assigns Preliminary Ratings to Mariner Finance Issuance Trust 2020-A

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NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of Mariner Finance Issuance Trust 2020-A (MFIT 2020-A), a personal loan asset-backed securities transaction.

The financial impact of COVID-19 has resulted in high unemployment, which can adversely impact the performance of the transaction and consumer loans in general. Owing to this risk, KBRA increased its base case default assumptions for the subject pool in a manner that was similar to recent portfolio reviews of the sector. A review conducted in April 2020 resulted in six ratings from two MFIT securitizations being placed on Watch Status. The Watch Status Placements were maintained in a more recent review in July 2020, at which time the ratings on the most senior class in each securitization was affirmed. For more information on the reviews see U.S. Unsecured Consumer ABS Ratings Affirms and Maintains Watch Report and U.S. Unsecured Consumer

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Vuzix Schedules Conference Call to Discuss Second Quarter 2020 Financial Results and Business Update

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ROCHESTER, Ny., July 27, 2020 /PRNewswire/ — Vuzix® Corporation (NASDAQ: VUZI), (“Vuzix” or, the “Company”), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, is pleased to announce that the Company will host a conference call regarding its second quarter 2020 operating results at 4:30 PM Eastern Time (ET), August 10, 2020.

(PRNewsfoto/Vuzix Corporation)

To join the live conference call, please dial 877-709-8150 (U.S. and Canadian callers) or 201-689-8354 (international callers outside of the U.S. and Canada) 10 to 15 minutes prior to the scheduled call time. Participants can also click this link for instant telephone access to the event. The link will become active approximately 15 minutes prior to the start of the conference call.

Additionally, a live and archived webcast of the conference call will be available on the investor relations page of the Company’s website at: https://ir.vuzix.com/

Participating on

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Tokyo, Sydney move to lure Hong Kong financial firms, but Singapore is top draw, Banking News & Top Stories

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HONG KONG (REUTERS) – Japan, Australia and some other nations are readying incentives to attract banks and asset managers in Hong Kong that are worried about the new security law imposed by China, but finance sector experts said even if they move, it will be to Singapore.

High taxes and costs, bloated bureaucracies and cultural differences in some of these Asia-Pacific nations present formidable challenges for the Hong Kong financial institutions to relocate even partially, while Singapore’s similarities to Hong Kong give it an advantage, they said, though the South-east Asian city-state has not actively been seeking such business.

Beijing imposed a tough national security law from July 1 on Hong Kong, regional home to many global financial groups, prompting companies to reassess their operations there.

Hong Kong’s financial regulators said last week they had been approached by institutions concerned about the law, but they said it would not affect

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Intevac Announces Second Quarter 2020 Financial Results

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SANTA CLARA, Calif.–(BUSINESS WIRE)–Intevac, Inc. (Nasdaq: IVAC) today reported financial results for the quarter and six months ended June 27, 2020.

“We are pleased to report profitable second-quarter financial results, demonstrating excellent execution by our team in delivering strong levels of business to our hard disk drive (HDD) customers and a record quarter in Photonics,” commented Wendell Blonigan, president and chief executive officer. “In light of the constraints placed on our operations and supply chain as a result of the COVID-19 pandemic, our financial results are indicative of the essential role Intevac plays within the critical IT and Defense infrastructure sectors. While 2020 will be an immensely challenging year overall, we are on very strong financial footing and further strengthened the balance sheet in the second quarter, increasing total cash and investments to $45 million. In our Thin-film Equipment (TFE) growth initiatives, we continue to experience pandemic-related delays

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