Quick Bytes Thu June 16th: MRK, RAD, GLD, DIS, AAPL, BAC

A quick digest of what’s hot and trending for Thursday, June 16th. Here are your quick news bytes (yes we know it is bites) to get you caught up quickly with some interesting reads:

  1. Merck & Co., Inc.(NYSE:MRK)‘s Keytruda was successful in a 305-subject Phase 3 Clinical Trial. Based on the results it has been reccommended that the trial be concluded and patients receiving chemo be offered the opportunity to switch. The study showed Keytruda was superior to chemo and met its primary endpoint. (BusinessWire)
  2. Rite Aid Corporation(NYSE:RAD) reported revenues of $8.2 billion up 23.1 year over year. Adjusted Dilluted Net Income was $0.01 compared to $0.02 last year.  Adjusted EBITDA came in at $286 million compared to $299.3 million last year. Comparable Same Store sales rose 0.4% Prescription sales were 68.9% of total sales. (PressRelease)
  3. Gold hits highest point in nearly two years as it climbs to $1,312.55 an ounce. (Reuters)
  4. Kendall J. Anderson CFA makes 5 year forecasts for the S&P 400,500, and 600, which come in with expected returns of 7.04%, 7.68% and 6.84% respectively (SeekingAlpha)
  5. Walt Disney Co(NYSE:DIS) opens the gates to its first theme in park in China, the $5.5B Shanghai Disneyland. (SeekingAlpha)
  6. Bill Maurer looks at analyst data which suggests iPhone 7 Demand will be muted and that more features are to come in 2017. He cites a Credit Suisse report from Wednesday which although it had an outperform and $150 PT for Apple Inc.(NASDAQ:AAPL) believes consumers will wait for a blockbuster iPhone 8 coming out in 2017.  They believe the iPhone 7 will only feature a thinner body, more storage and an improve camera, while the iPhone 8 will have an OLED Screen, Full Glass Display, No Home Button, Enhanced Taptic Engine, Improved Camera,  and Wireless Charging. The Credit Suisse report suggests a break in Apple’s current iPhone upgrade cycle. We will see… (SeekingAlpha)
  7. Bank of America Corp(NYSE:BAC) has 23 percent fewer branches today than it did seven years ago. The CNN Money report cites digital disruption to the way banking is done as the primary motivator. (CNN Money)

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