BLUE Shares Up After FDA Lifts Clinical Hold For Sickle Cell Disease, ?-Thalassemia Studies

Tyler Technologies Cuts FY EPS View, But Lifts FY Adj. EPS Outlook

Tyler Technologies Inc. (TYL) announced updated annual guidance for 2021, reflecting the strong year-to-date performance and improving market activity for Tyler, including recently acquisition of NIC.

The company cut annual GAAP earnings per share outlook to a range of $3.58 to $3.74 from the prior range of $4.03 to $4.21.

Looking ahead for fiscal year 2021, the company now expects non-GAAP earnings per share to be in the range of $6.65 to $6.77, GAAP total revenues of $1.507 billion to $1.537 billion, and non-GAAP total revenues of $1.510 billion to $1.540 billion.

Previously, the company expected non-GAAP earnings per share are expected to be in the range of $5.65 to $5.77, and total revenues of $1.190 billion to $1.220 billion.

Analysts polled by Thomson Reuters expect the company to report earnings of $6.53 per share and revenues of $1.50 billion for fiscal year 2021. Analysts’ estimates typically exclude special items.

JOIN OUR LIVE EVENT JUNE 24: Execs from Deutsche Bank, AllianceBernstein, and Accenture will break down how Wall Street is navigating the return to work

  • Sign up for our event on June 24 at 1 p.m. ET / 10 a.m. PST if you’re an Insider subscriber.

As the worst days of the pandemic seem to be subsiding in the US, there’s one question on everyone’s mind: What does the return to work actually look like?

On Wall Street, the itch has been mounting since the start of the pandemic for people to find a way to safely get back to their desks.

At some firms, the return to work has gradually begun. But, for many others, the timeline has yet to kick off to move thousands of people back into New York City skyscrapers and offices across the country.

Insider Finance reporter Reed Alexander will moderate a live webinar event on Thursday, June 24, at 1 p.m. ET/10 a.m. PST, in which three top financial-services execs from Deutsche Bank, AllianceBernstein and Accenture will break down what the return to work looks like for Wall Street.

You can sign up here if you’re an Insider subscriber.

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Nucor To Buy IMP Business Of Cornerstone Building Brands For $1 Bln Cash – Quick Facts

Nucor Corp. (NUE) announced Monday that it has signed a definitive purchase agreement to acquire the Insulated Metal Panels (IMP) business of Cornerstone Building Brands for $1 billion in cash.

Adjusting for the net present value of associated tax benefits, the realized effective purchase price for Nucor is approximately $900 million. The transaction is expected to close later this year, pending regulatory approvals.

IMP products are wall and roof panel solutions comprised of an energy efficient foam core sandwiched between two layers of steel or aluminum and are available in a variety of widths, thicknesses and exterior finishes.

The IMP business Nucor is acquiring from Cornerstone Building Brands has seven manufacturing facilities located throughout North America.

With this acquisition, Nucor will be purchasing two valued legacy brands, CENTRIA and Metl-Span, which provide a full range of products to service high-end architectural applications to more functional and quickly expanding cold storage and warehousing applications.

Separately, Cornerstone Building Brands said it expects post-tax transaction proceeds of approximately $750 million to be used to pay down a portion of its secured credit facilities, invest in organic growth and efficiency projects and strategic acquisitions.

Putin officially pulls Russia out of the Open Skies arms-control treaty. Trump quit the pact last year.

  • Russian President Vladimir Putin withdrew Russia from the Open Skies arms control treaty on Monday.
  • Trump pulled the US out of the treaty last year, and Biden said he would not resign. 
  • Putin said the US decision to pull out “significantly upset the balance of interests” among members of the treaty.
  • See more stories on Insider’s business page.

Vladimir Putin formally withdrew Russia from the Open Skies arms control treaty on Monday.

The move comes one year after Former President Donald Trump pulled the US out of the treaty, which allows unarmed surveillance between countries in the agreement.

President Joe Biden said in May that he would not re-enter the pact.

Putin formalized Russia’s exit from the treaty with a new law on Monday, saying the US decision to pull out “significantly upset the balance of interests” among members of the treaty, according to Reuters.

“This caused serious damage to the treaty’s observance and its significance in building confidence and transparency, (causing) a threat to Russia’s national security,” the Kremlin said in a statement translated by Reuters. 

This is a developing story. Please check back for more updates.

BLUE Shares Up After FDA Lifts Clinical Hold For Sickle Cell Disease, ?-Thalassemia Studies

Shares of bluebird bio Inc. (BLUE) are currently trading at $31.42, up 50 cents or 1.62%, with trading volume of over 698K versus an average volume of 1.40 million shares. The stock has been trading in the range of $24.24 – $72.30 for the past one year.

bluebird bio announced that the U.S. FDA has lifted the clinical holds on the Phase 1/2 HGB-206 and Phase 3 HGB-210 studies of LentiGlobin for sickle cell disease or SCD gene therapy (bb1111) for adult and pediatric patients with SCD.

The FDA also lifted hold on the Phase 3 Northstar-2 (HGB-207) and Northstar-3 (HGB-212) studies of betibeglogene autotemcel gene therapy (beti-cel; licensed as ZYNTEGLO in the EU and the UK) for adult, adolescent and pediatric patients with transfusion-dependent ß-thalassemia (TDT). The company is working closely with study investigators and clinical trial sites to resume all study activities as soon as possible.