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Finish Line authorizes new share repurchase program

The Finish Line Inc. said Thursday that it has authorized a new 5 million share repurchase program. The new plan will go into effect when the current plan is complete. There are about 600,000 shares left in the current plan. The athletic apparel and accessories retailer also declared a regular quarterly dividend of 10 cents per share of outstanding common stock, payable on September 12, 2016 to shareholders of record as of August 26, 2016. Finish Line shares are up 1.3% in Thursday trading, but down 19.5% for the past year. The S&P 500 is up 2.5% for the last 12 months.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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CalPERS names Marcie Frost its new CEO

The California Public Employees’ Retirement System, known as CalPERS, named Marcie Frost as the pension funds’ new chief executive officer, effective Oct. 3. Frost will replace Doug Hoffner, who became interim CEO after former CEO Anne Stausboll retired on June 30. Frost will join CalPERS after a 16-year stint at the Washington State Department of Retirement Services, where she most recently served as executive director. With a total market value of about $301 billion, CalPERS is currently the U.S.’s largest defined-benefit public pension. “The selection of Marcie was unanimous by the CalPERS Board members involved,” said CalPERS board president Rob Feckner. “She has demonstrated throughout her career strong leadership and innovation, an emphasis on customer satisfaction, and team collaboration that will be fundamental to the future of CalPERS.”

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Small Servicers Navigate Low Rate Environment Better

In the current period of near-record low interest rates on home loans, smaller mortgage servicers are better equipped to maintain growth than their larger counterparts.

Many financial institutions and non-bank companies alike previously reported that their mortgage servicing portfolios were smaller during the first quarter of this year.

The decline in servicing portfolios presages a tougher period ahead as residential loan borrowers are presented with more opportunities to refinance their mortgages.

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CORRECTED: Oxitec’s genetically-engineered mosquitoes connected to 91% drop in Brazilian neighborhood’s dengue fever cases

Intrexon Corporation’s Oxitec Ltd. said Thursday that a neighborhood in Piracicaba, Brazil saw a 91% drop in dengue fever cases this year after the company’s genetically-engineered mosquitoes were released there. The effect, which compared the number of cases with the previous year, was an improvement above the 52% reduction in dengue fever seen in the municipality and unrelated to Oxitec’s mosquitoes. Oxitec’s genetically-engineered mosquitoes were released in Piracicaba’s 5,000 resident CECAP/Eldorado district, which last year saw much higher rates of dengue than the rest of Piracicaba, the company said. The data was courtesy of Piracicaba’s Epidemiologic Surveillance service. Oxitec has also proposed to release genetically-engineered mosquitoes in the Florida Keys, where the plan has met with local opposition.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Oxitec’s genetically-engineered mosquitoes connected to 52% drop in Brazilian city’s dengue fever cases

Intrexon Corporation’s Oxitec Ltd. said Thursday that the municipality of Piracicaba, Brazil saw a 52% reduction in dengue fever cases this year after the company’s genetically-engineered mosquitoes were released. The effect, which compared the number of cases with those the previous year, amounted to a 91% drop in the municipality’s 5,000 resident CECAP/Eldorado district, which typically sees much higher rates of dengue than the rest of Piracicaba, the company said. The data was courtesy of Piracicaba’s Epidemiologic Surveillance service. Oxitec has also proposed to release genetically-engineered mosquitoes in the Florida Keys, where the plan has met with local opposition.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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More Bikes Could Lead to More Revenue for Property Managers

By Rachel Jefferson

The 2016 Concept Community Survey gauged the needs of 88,000 renters nationwide. It found that 44% of renters either own or will soon own a bike and with the increase in bikes comes an increase in renters’ need for bike storage in their rental units. According to Multifamily Executive, “Nearly 20% of all renters would kick in an extra $5 per month for bike storage space, while another 7.24% would go as high as $10. Further, nearly 4% of renters would stretch up to $15 or more per month. All told, more than 30% of all renters are explicitly willing to pay for bike storage.”

on Multifamily Executive.

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Bayer increases all-cash Monsanto offer to $125 per share

Bayer came back with a new offer on Thursday for Monstanto of $125 per share, up from its initial $122 per share offer, with a $1.5 billion reverse antitrust break free to satisfy Monsanto’s concerns about regulatory barriers. The new offer is equal to a 40% premium above Monsanto’s closing share price in early May. Monsanto shares rose 3.3% on the news.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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FDA committee supports approval of Sandoz biosimilar for Amgen’s blockbuster Enbrel

Novartis’ Sandoz got a nod from an Food and Drug Administration advisory committee Wednesday for its biosimilar copy of Amgen Inc.’s blockbuster rheumatoid arthritis drug Enbrel. The unanimous vote in favor of the drug’s approval also supported approval for all of the conditions Enbrel treats, which also includes plaque psoriasis. Biosimilars, a new wave of drugs that hold cost-saving promise, began receiving FDA approval last year, but their path to pharmacies has been slowed by intellectual property disputes. An Amgen patent for Enbrel protects the drug through 2028, which could expose competitors on the way to market to litigation. This week has been an unusually busy one for biosimilars, with a biosimilar copy of AbbVie’s Humira receiving a go-ahead from an FDA advisory committee on Tuesday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News