Current Trade Momentum: Nike Inc (NKE), Gilead Sciences (GILD)

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Nike Inc (NYSE:NKE)

Stock’s Trading Stats:

Nike Inc (NYSE:NKE) is trading up with a percentage change of 0.54% and is at $59.26 right now. The Company’s market capitalization stands at $100.52 Billion in the current trading Session whereas, its outstanding shares are 1.33 Billion.

Recent Press Release:

Nike Inc (NKE) on April 26, 2016 declared that it has been notified of an unsolicited “mini-tender” offer dated April 21, 2016, made by TRC Capital Corporation, a private Canadian investment company, to purchase up to 2,000,000 shares of NIKE Class B Common Stock, less than one sixth of one percent of the outstanding shares. TRC Capital’s unsolicited “mini-tender” offer price of $57.00 per share is about 4.39% below the $59.62 per share closing price of NIKE’s Class B Common Stock on April 20, 2016, the last trading day before the beginning of the offer. NIKE is not associated in any way with TRC Capital, the offer or the offer documentation.

NIKE recommends that shareholders reject this unsolicited offer, for the reasons described below.

TRC Capital has made many similar “mini-tender” offers for the shares of other companies. “Mini-tender” offers look for to purchase less than five percent of a company’s outstanding shares, thereby avoiding many disclosure and procedural rules of the United States Securities and Exchange Commission (the “SEC”) because the offers are below the SEC’s threshold for requiring such disclosure and procedural protections for shareholders.

Gilead Sciences, Inc. (NASDAQ:GILD)

Stock’s Trading Stats:

Gilead Sciences, Inc. (NASDAQ:GILD) is declining -0.85% percent and is at $84.46 in the Real-Time trading session. The stock’s market capitalization stands at $107.72 Billion with outstanding shares of 1.35 Billion.

Recent Press Release:

Gilead Sciences, Inc. (GILD) on April 29, 2016 declared that the Committee for Medicinal Products for Human Use (CHMP), the scientific committee of the European Medicines Agency (EMA), has adopted a positive opinion on the company’s Marketing Authorization Application (MAA) for Odefsey (emtricitabine 200 mg/rilpivirine 25 mg/tenofovir alafenamide 25 mg; R/F/TAF), an investigational single tablet regimen for the treatment of HIV-1 infection in adults and adolescents (ages 12 years and older with body weight at least 35 kg) without known mutations associated with resistance to the NNRTI class, tenofovir or emtricitabine, and with a viral load less than 100,000 copies per mL. Odefsey combines Gilead’s emtricitabine and tenofovir alafenamide with rilpivirine, owned by Janssen Sciences Ireland UC, one of the Janssen Pharmaceutical Companies of Johnson & Johnson, and marketed by Janssen Cilag International NV.

The CHMP’s recommendation will now be reviewed by the European Commission, which has the authority to approve medicines for use in the 28 countries of the European Union.