By Mitchell Young
New Haven: Worry warts that reacted to Alexion Pharmaceuticals, Inc.’s [Nasdaq: ALXN] announcement that it was trimming its world wide work force by 5% will be surprised by the company’s first-quarter 2017 financial results
Revenues rose 24.1% year over year to $870 million, exceeding analysts expectations of $821 million. There was a small benefit from an accounting change, but reveneus increased by 20% organically.
Shares of Alexion were up more than 5% at the end of trading, in response to the better-than expected results.
The news comes at a good time for the stock as drugs competitive to its flag ship product Soliris started getting some headlines with clinical trial announcements. Soliris sales however continued to rise as the company has found new disease treatments for the drug. The best news for investors is that the company’s big acquisition bets [more than $10 billion total] are starting to show up in sales.
Fifty State Tech Reports Present Connecticut Data
CONNTACT.com Compiled Comparisons With Our State Neighbors Below
The state of Connecticut and many of its companies and institutions have spent the last two decades trying to build out the technology infrastructure of companies and jobs.
A new annual study of tech employment in all fifty states presents a detailed look at employment in the state’s technology industry and within non-tech companies as well.
The report’s data is compiled and reported by CompTIA, based in Downers Grove, IL. CompTia is a member based non-profit organization and bills itself as “the world's leading tech association, is a thought leader and an action leader.” Among the services of the association are standards development, communities of professionals, industry advocacy and IT certification programs.
Connecticut’s unemployment rate ticked upward from 4.4 percent to 4.5 percent in January, despite the gain of 5,700 jobs, the state Department of Labor reported Friday.
The number of unemployed in Connecticut rose by 3,000 in January as more people returned to the labor force seeking work. The unemployment rate calculation only considers those either employed or actively seeking employment.
The January rate still remains 1 percentage point lower than the jobless rate from January 2016.
|Matt Powers Uber's Connecticut GM|
STAMFORD: Ride sharing service Uber opened what it calls a “Greenlight Hub” in Stamford in early February.
According to the company a Greenlight Hub, is a “resource center,” and will serve as a “central help facility for Uber’s driver-partners.”
“Drivers are our customers, and this new Greenlight Hub is designed to put their needs front and center,” said Matt Powers, General Manager for Uber in Connecticut. “We’re also excited to set down roots here in Stamford, as part of our broader commitment to Connecticut.”
Uber currently operates approximately 75 Greenlight Hubs throughout the United States, along with around 200 facilities where they provide additional in-person support to driver-partners. The Stamford building is projected to see more than 600 people per month.
WALLINGFORD: Bristol-Myers Squibb Company has changed direction and will no longer relocate 500 employees to a new location in Connecticut. BMS announced previously its intention to close its 1 million square feet Wallingford research center and to relocate the 500
employees elsewhere in Connecticut.
The change in plans is part of a wider move to consolidate operations in Hopewell, New Jersey and Seattle, Washington.
BMS will distribute those jobs across other facilities and is adding to its Lawrenceville, New Jersey campus and expand its Devens, Massachusetts facility. None of the jobs will remain in Connecticut.
HARTFORD: The national economy may be getting better and there is a President Elect promise to make things great but here in the Nutmeg state job losses continue to be racked up.
Connecticut Business & Industry Association’s [CBIA] chief economist Peter Gioia said “The numbers speak for themselves,” Connecticut has lost 14,900 jobs since June.
It’s the fourth consecutive month of job losses, 7,200 jobs were lost in October and in September 6,600.
Goia, had some good news “construction and mining, manufacturing, and financial services — all core industries here in Connecticut — added jobs. But there’s nothing you can sugarcoat when we’re down to only 3,000 jobs year over year added in the state.”