Chester County Daily News Business Briefs

By

Chester County Daily News Business Briefs are short summaries and links to important Chester County’s business stories not included in VISTA Today’s daily news stream.

West Hosts 1st Quarter Conference Call This Morning

West Pharmaceutical Services (NYSE: WST) releases first quarter 2015 financial results before the market opens this morning and follows with a conference call to discuss the results and business expectations at 9:00 a.m. Eastern Time. To participate on the call please dial 877-930-8295 (U.S.) or 253-336-8738 (International). The conference ID is 27364666.  West will offer a live broadcast of the conference call on its Investor’s page here and suggests participants allow extra time prior to the call to visit the site and download the streaming media software required to listen to the Internet broadcast.

Morningstar upgrades AmerisourceBergen’s Credit Rating

Sleek Money reported yesterday that AmerisourceBergen (NYSE:ABC), Chester County’s only FORTUNE 500 company, was given an “A-” credit rating by Morningstar. The firm’s “A-” rating suggests that the company is a low default risk. They also gave their stock a two star rating.  The upgrade reflects the Chesterbrook-based company’s strong performance over the last several years and follows similar upgrades by other analyst firms including RBC Capital and Zacks.

Cubesmart Shares Fall On Higher Than Average Trading

Equities.com reported that Malvern-based CubeSmart (NYSE: CUBE) experienced unusually high volume yesterday, as the stock lost 3.56% to a closing price of $23.06. The stock saw 3.4 million shares trade hands over the course of the day on 16,159 trades. Given that the stock’s average daily volume over the last month has been 1.19 million shares a day, the service notes the change represents a pretty substantial spike over the norm.

Liberty Property TrustLiberty Breaks Ground On Its 13th Navy Yard Building

Liberty Property Trust (NYSE: LPT) of Malvern plans to break ground this week on a 145,000-square-foot structure (right) at the Philadelphia Navy Yard complex in South Philadelphia.  The building is expected to be completed sometime next year.  According to a report in the Philadelphia Business Journal, “the new building . . . will be the 13th building Liberty has constructed at the Navy Yard.” WuXi AppTec Inc. will be the building’s primary tenant.

USA Technologies Forms Partnership With Chase Division

Malvern-based USA Technologies (NASDAQ: USAT), a leader of wireless, cashless payment solutions for small-ticket, self-serve retailing industries and Chase Commerce Solutions, a division of JPMorgan Chase & Co., announced a new strategic relationship earlier this week. The new relationship continues to broaden USA Technologies’ reach for products and services domestically as well as outside the U.S while providing Chase access to new customer base via the unattended self-service retail market space. Separately, Wall Street Observer reported overnight that shares of USA Technologies traded at a 52 weeks high level during April 29th’s trading session.

Pennsylvania’s Wealthiest Individual

4.30.2015 Iron SpringsForbes magazine placed Mary Alice Dorrance Malone, a Coatesville resident and a Campbell Soup board member and largest shareholder (Malone owns 17 percent of the Camden soup-makers outstanding shares), as the wealthiest person in Pennsylvania.  The magazine ranks Ms. Dorrance as the 190th wealthiest person in the United States and 557th in the world.  When she isn’t attending to her board member duties, Dorrance breeds horses at Iron Spring Farm, a 1,000-acre property she owns along Route 82 between Kennett Square and Coatesville.

Wall Street Journal Letter to the Editor

Finally, John Swaney a professor at Drexel University’s medical school and Malvern resident, had his Letter to the Editor published on the Wall Street Journal’s Editorial Page yesterday.  Taking issue with an article earlier in the week claiming energy costs were souring, Swaney made a case for Pennsylvania’s electric energy choice program as a viable approach for controlling costs and then made a case for combating global warming. He wrote, “We can gamble our children’s future by betting that global warming won’t happen, but what if proponents are right and we lose that bet? With hindsight, renewables might end up looking like pretty good economics. Or we can enjoy low rates today and stick it to our grandkids in yet another way.”

Tags:

Connect With Your Community

Subscribe to stay informed!

"*" indicates required fields

This field is for validation purposes and should be left unchanged.
Advertisement
Creative Capital logo