Reliance shuts unit at Jamnagar refinery

Henry Schein Acquires 70% Of EAssist Dental Solutions For Undisclosed Terms – Quick Facts

Healthcare solutions company Henry Schein, Inc. (HSIC) announced Tuesday that it has acquired a 70% ownership position in eAssist Dental Solutions, the developer of a leading and fast-growing virtual dental billing outsourcing service. Financial terms were not disclosed.

eAssist will help advance Henry Schein’s mission to offer best-of-breed solutions to help dental practices operate more efficiently and profitably, freeing up practice resources to focus on patient care.

eAssist was founded in 2011 by James Anderson, DMD, and Sandy Odle to assist with billing challenges in his dental practices. Anderson will continue to manage the eAssist business as Chief Executive Officer, along with the current eAssist management team.

Henry Schein expects that eAssist will be slightly dilutive to the Company’s 2021 financial results and to be accretive thereafter. Financial terms were not disclosed.

eAssist is currently designed to support dental practices of all sizes through technology supported by a network of dental billing professionals. In addition to its core dental billing service, newer offerings from eAssist include securing detailed patient eligibility information, billing certain dental procedures through medical insurance, and practice bookkeeping.

Oil Prices Little Changed After EIA Report

Oil prices were little changed on Thursday after data showed an increase in U.S. gasoline and diesel stockpiles amid a ramp-up in output by refiners anticipating runaway demand for fuels this summer.

Brent crude oil futures for August delivery inched up marginally to $72.27 per barrel, while U.S. oil futures for July settlement were little changed at $70 a barrel.

Gasoline inventories rose by 7.05 million barrels during the week ended June 4, while stockpiles of distillates, which include diesel and heating oil, rose by 4.4 million barrels, the Energy Information Administration said in its weekly petroleum status report. That indicated weaker-than-expected fuel demand at the start of the summer.

On the positive side, crude inventories in the U.S. dropped by 5.2 million barrels last week, higher than an expected drop of about 4.1 million barrels.

In another development weighing on prices, Libya’s oil output is picking up again after a pipeline leak that caused a brief reduction was fixed.

India, the third-largest oil consumer, posted its lowest fuel demand level in May since August 2020, as a second COVId-19 wave stalled mobility and muted economic activity.

Rupee falls by 9 paise, breaches 73-mark against US dollar

At the interbank foreign exchange market, the rupee opened at 72.96 per dollar as against its previous close of 72.97

Extending losses for the third straight session, the rupee on Thursday fell by 9 paise to end at 73.06 (provisional) against the U.S. dollar even as the domestic equity markets settled with significant gains.

Forex traders said the local unit is trading in a narrow range as investors looked to key U.S. inflation data and European Central Bank meeting later in the day for further cues.

At the interbank foreign exchange market, the rupee opened at 72.96 per dollar as against its previous close of 72.97.

It hovered in the range of 72.94 to 73.12 during the day before ending at 73.06.

The domestic currency has lost 26 paise in the last three trading sessions.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.09% to 90.20.

On the domestic equity market front, the BSE Sensex ended 358.83 points or 0.69% higher at 52,300.47, while the broader NSE Nifty rose 102.40 points or 0.65% to 15,737.75.

Brent crude futures, the global oil benchmark, rose 0.07% to $72.27 per barrel.

Foreign institutional investors were net sellers in the capital market on Wednesday as they offloaded shares worth ₹846.37 crore, as per exchange data.

Cardinal Health Gets FDA Approval For Lymphoseek Pediatric Indication

Cardinal Health (CAH) said that the U.S. Food and Drug Administration has approved Lymphoseek (technetium Tc 99m tilmanocept) injection for pediatric use. Lymphoseek is radiopharmaceutical agent specifically designed for targeted lymphatic mapping and guiding sentinel lymph node biopsies or SLNB.

In addition to adult use, the new indication will provide lymph node identification in pediatric patients with melanoma, rhabdomyosarcoma or other types of solid tumors. This will offer physicians, oncologists and nuclear medicine specialists an efficient, accurate and safe option to enhance lymphatic mapping and SLNB in pediatric melanoma cases, the most common skin cancer in children.

Singapore PM says discussed restarting travel links with Australia PM

Singapore's Prime Minister Lee Hsien Loong said on Thursday he had discussed with his Australian counterpart Scott Morrison the possibility of restarting travel between the two countries.

"We discussed how two-way travel between Singapore and Australia can eventually resume in a safe and calibrated manner when both sides are ready," Lee said at a virtual news briefing after a meeting of the two leaders.

EARNINGS SUMMARY: Details of FuelCell Energy Inc. Q2 Earnings Report

Below are the earnings highlights for FuelCell Energy Inc. (FCEL):

-Earnings: -$19.72 million in Q2 vs. -$15.57 million in the same period last year.
-EPS: -$0.06 in Q2 vs. -$0.07 in the same period last year.
-Analysts projected -$0.05 per share
-Revenue: $13.95 million in Q2 vs. $18.88 million in the same period last year.

Reliance shuts unit at Jamnagar refinery

Reliance Industries Ltd said it has shut a secondary unit at its only-for-exports oil refinery at Jamnagar in Gujarat, which may delay shipment of some product cargoes.

"The Fluidized Catalytic Cracker Unit (FCCU) in our SEZ refinery at Jamnagar had to be taken for an emergency shutdown on June 6, 2021," the firm said in a filing to stock exchanges.

Reliance has two refineries that turn crude oil into value-added fuel such as petrol and diesel at Jamnagar – a 35.2 million tonne a year only-for-exports unit and a 33 million tonne plant catering to the domestic market.

"All other units at the Jamnagar refining complex are operating normally," Reliance said. "Consequently, some product shipments may get delayed and we are working to minimize the impact on our customers." The FCCU unit, it said, is being repaired on top priority and is expected to be restarted expeditiously.