The Boeing Company (NYSE:BA) said it expects air cargo traffic to grow by 4.7% each year over the next 20 years, with global air freight traffic expected to more than double by 2033. “We see strong signs of a recovery as air freight traffic levels continue to strengthen after several years of stagnation,” VP of marketing, Boeing Commercial Airplanes, Randy Tinseth said in a statement. “The air cargo market is now growing at nearly the long-term rates.” Air cargo traffic grew 4.4% in the first seven months of the year. “If this trend continues, 2014 will be the highest growth year for the air freight industry since 2010,” The Boeing Company (NYSE:BA) said in a statement. “Much of the weak air cargo growth in the previous years can be attributed to two principal causes — an underperforming world economy and lackluster trade growth, particularly in those traditional commodities served by the air cargo industry.”
Computer and computer hardware manufacturer Hewlett-Packard Company (NYSE:HPQ) has had its price target raised by analysts at Mizuho Securities to $40 from $35 a share. The firm maintained its neutral rating on the stock. Shares of Hewlett-Packard Company (NYSE:HPQ) are trading within a 52-week spread of $20.25 – $38.25.
Hyperion Therapeutics Inc (NASDAQ:HPTX), development-stage biopharmaceutical company, said Tuesday that it has entered into an interim agreement with Clal Biotechnology Industries Ltd. in order to attempt to resolve the disputes between them and to allow Clal Biotechnology to evaluate whether there is any clinical efficacy to, and whether there is a potential regulatory path forward for, DiaPep277 that a party other than HPTX may wish to pursue. HPTX was developing DiaPep277 as a treatment for newly diagnosed Type 1 diabetes. It was part of HPTX’s acquisition of Clal Biotechnology’s subsidiary, Andromeda Biotech Ltd., in June 2014. Hyperion Therapeutics Inc (NASDAQ:HPTX) announced early September 2014 that it was terminating the development of DiaPep277 after uncovering evidence that certain employees of Andromeda Biotech, Ltd. engaged in serious misconduct, including collusion with a third-party biostatistics firm in Israel to improperly receive un-blinded DIA-AID 1 trial data and to use such data in order to manipulate the analyses to obtain a favorable result.
Under the terms of the interim agreement with Clal Biotechnology, HPTX will complete the current DIA-AID 2 study of DiaPep277, at its expense. An independent party or parties will be appointed by Clal Biotechnology , at Clal Biotechnology’s expense, and will be permitted to have access to relevant non-privileged documentary materials including, the statistical analysis plans, the study dataset after unblinding, and any correspondence with the FDA and other medical/clinical regulatory entities.
The independent party is expected to assess, for Clal Biotechnology ‘s benefit, the ongoing conduct of the DIA-AID 2 study, the conduct of the completed DIA-AID 1 study, the integrity of the studies’ readouts, and any potential regulatory path forward for DiaPep277. The assessment shall be conducted during the DIA-AID 2 study and thereafter for as long as reasonably required to complete the review. HPTX will not be obligated to take any action in response to the independent party’s observations.