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Sunrise Mining Corp – SUIP

ECGI is a provider of ambulatory medical devices for physicians and medical institutions to help diagnose and treat patients with potentially life-threatening conditions including arrhythmia’s at the earliest possible opportunity.

ECGI is a telemedicine solution provider, specializing in equipment, software, and advanced monitoring services for high risk and chronically ill patients especially with heart diseases such as arrhythmia.

ECGI in 2015 will be launching its first of many patient remote monitoring medical devices commencing with arrhythmia heart monitoring.

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Medican Enterprises Inc – MDCN

Corporate Overview

Investing in Evidence-based Complementary and Integrative Medicine

Medican Enterprises Inc. is a bio-pharmaceutical company headquartered in Las Vegas, NV. The Company is at the forefront of wholesale medical marijuana (“MMJ”) production, cultivation, and wholesale distribution of cannabis related products.

Through joint ventures with development partners all over Canada and the United States, Medican builds and operates Medical Marijuana Cultivation and Research Centers—that use cutting edge pharmaceutical and agricultural technologies. Learn more about medical marijuana cultivation.

Uniquely Positioned in the Medical Marijuana Industry

Medican is the industry standard for pharmaceutical grade medical marijuana production, cultivation and distribution

With strong operational experience, a significant focus on R&D, and financial expertise, Medican is strongly positioned capitalize on the medical marijuana market opportunity.

This will be achieved through:

  • Standardized high-quality product
  • Rapid rollout of cultivation sites – 1ST Mover advantage
  • Scalable business model
  • Existing wholesale distribution channel
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    HSBC confirms FHFA settlement, to pay $550 million

    HSBC Holdings PLC confirmed that it reached a settlement with the Federal Housing Finance Agency, becoming the latest financial firm to settle mortgage-bond lawsuits filed in 2011.

    HSBC will pay $550 million. Earlier Friday, The Wall Street Journal reported that the settlement would be between $500 million and $600 million.

    Stuart Alderoty, senior executive vice president and general counsel for HSBC North America, said in a statement that “we are pleased to have resolved this matter.”

    The FHFA alleged that HSBC’s U.S. arm failed to disclose adequately the risks on the mortgage bonds it sold to Fannie Mae and Freddie Mac ahead of the financial crisis.

    HSBC’s settlement is less than the price many of its peers paid to resolve the FHFA’s claims. Last month, Goldman Sachs Group Inc. reached a deal with the regulator valued at about $1.2 billion.

    On Aug. 4, London-based HSBC said net profit for the first half of the year declined to $9.46 billion from $10 billion in the first half of 2013. The decline was expected by analysts after a poor first quarter for certain businesses. Chairman Douglas Flint said the results showed “a suitably well balanced financial performance” at a time of low interest rates and reduced financial market volumes.

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    Allianz may sell retail unit of Fireman’s Fund: report

    SAN FRANCISCO (MarketWatch) — German insurer Allianz ALIZF, +0.17% is looking into selling the retail unit of its U.S. subsidiary Fireman’s Fund due to disappointing performance, Sueddeutsche Zeitung reported Saturday. Its industrial and commercial insurance business will then be merged with Allianz Global Corporate & Specialty, according to the newspaper. Allianz bought the California-based Fireman’s Fund in 1991.


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    Manchester United swings to loss as expenses rise

    Manchester United Ltd. swung to a fiscal fourth-quarter loss as expenses ballooned, though the football club’s revenue increased on higher commercial and broadcast sales.

    The team is owned by the Glazer family, headed by American businessman Malcolm Glazer. The role of the Glazers, who took on debt to purchase the team for $1.47 billion in 2005, stirred the ire of some fans, who worried the new debt would restrict the team’s ability to keep and attract top talent. In an effort to reduce its debt load, Manchester United went public in 2012.

    For the quarter ended June 30, the company posted a loss of GBP5.8 million, or GBP3.55 a share, from a prior-year profit of GBP106.1 million, or GBP64.80 a share.

    Adjusted for items, the loss widened to GBP3.85 a share, from GBP2.15 a share a year earlier.

    Revenue increased 13% to GBP96.2 million, from GBP85.1 million a year earlier.

    Analysts polled by Thomson Reuters had expected a per-share loss of GBP7 on revenue of GBP81.6 million.

    Commercial revenue, which accounted for 46% of Manchester United’s revenue in the quarter, increased 17% to GBP44.3 million, boosted by higher sponsorship revenues.

    Broadcasting revenue increased 28% to GBP34 million, boosted by Manchester United’s first-place finish in the 2012-13 Premier League. Matchday revenue fell 13% to GBP18 million as the company played one fewer Premier League home game in the quarter.

    Meanwhile, operating expenses increased 23% to GBP102.8 million from GBP83.3 million a year earlier.

    For the 2015 fiscal year, Manchester said it is expecting revenue of GBP385 million to GBP395 million, while analysts were looking for GBP410 million.

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    Vera Bradley profit falls in line with forecast

    Vera Bradley Inc. on Wednesday said its fiscal second-quarter earnings dropped 49%, as the retailer continues to struggle to attract new customers.

    Vera Bradley, known for its floral-patterned handbags, backpacks and luggage, is aiming to transform its business under Chief Executive Robert Wallstrom after posting uneven results amid inventory-management challenges and soft sales. Like many retailers, Vera Bradley’s margins also have been pressured by a highly promotional environment and tepid store traffic.

    For the quarter ended Aug. 2, Vera Bradley posted a profit of $7.6 million, or 19 cents a share, down from $15 million, or 37 cents a share, a year earlier. Revenue fell 4% to $120.1 million.

    The company previously projected earnings of 18 cents to 20 cents a share on revenue of $113 million to $120 million.

    Gross margin edged down to 53.3% from 57.2% a year ago on higher online promotions.

    Vera Bradley said comparable sales fell 5.3% in the quarter, with a 14.2% drop in store sales partially offset by a 9.3% increase in e-commerce revenue. Indirect sales fell 18% to $41.2 million due to lower orders from specialty retail accounts.

    For the current quarter, the company forecast per-share earnings from continuing operations of 18 cents to 20 cents and revenue between $123 million and $128 million. Analysts polled by Thomson Reuters had projected earnings of 26 cents a share on revenue of $126.7 million.

    The company raised the low end of its revenue outlook for the year by $10 million, putting the range at $520 million to $530 million. Vera Bradley backed its earnings guidance of $1.00 to $1.10 a share.

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    Dechra Pharma pretax profit up 72% in fiscal 2014

    LONDON–Dechra Pharmaceuticals PLC (DPH.LN) Monday raised its dividend payment after posting a 72% jump in fiscal 2014 pretax profit, and said that current trading is in line with management expectations and is consistent, at constant exchange rates, with the growth seen in the second half of fiscal 2014.

    For the year ended June 30, the company reported a pretax profit of 21.4 million pounds ($35 million), up from GBP12.5 million in the year ago period, on a revenue of GBP193.6 million and GBP189.2 million, respectively.

    The veterinary pharmaceutical company will pay a final dividend of 10.65 pence per share, making a total of 15.40 pence, up 10% over the previous year.

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    Citigroup CFO: Trading revenue should flatten out

    Citigroup Inc.’s chief financial officer on Monday said he expects a steep slump in trading revenue to mitigate, while emphasizing that the New York bank’s primary focus remains on passing its stress tests.

    John Gerspach said he expects fixed-income and equities-trading revenue to be roughly flat in the third quarter with the year-ago period, when Citigroup and its rivals saw trading revenue hammered by investor expectations that the Federal Reserve could move to raise interest rates.

    Mr. Gerspach also said he expects quarterly investment-banking revenue to be stronger than the year earlier, but said it would likely be down from the second quarter due to a seasonal decline in underwriting volumes.

    Mr. Gerspach, speaking at the Barclays Global Financial Services Conference in New York, was peppered with questions from the audience on the bank’s progress on preparing for the next round of stress tests. In March, Citigroup failed to get Federal Reserve approval to reward investors with higher dividends and stock buybacks. The bank’s chief executive, Michael Corbat, has since said the stress testing–the “Comprehensive Capital Analysis and Review,” or “CCAR,” process–is the bank’s most important goal.

    On Monday, Mr. Gerspach reiterated that sentiment. “Priority one is CCAR, priority two is CCAR and priority three is CCAR,” he said. In response to an audience member who accused him of striking a similarly optimistic tone before Citigroup failed its stress tests, Mr. Gerspach said the bank’s understanding of CCAR has since deepened.

    “A year ago, we had a false set of understanding coming out of the previous year’s CCAR,” he said. “We didn’t grasp totally the need to ingrain the qualitative aspects in everything that we do.” The Fed’s March rejection of Citigroup’s capital plan was based on qualitative aspects, namely deficiencies in how the bank plans for a future recession, including its ability to project revenue and losses across all of its operations under a scenario of sustained economic stress.

    Mr. Gerspach said Citigroup now has “a much greater appreciation of the need to have a bottom-up approach” to CCAR.

    The bank’s expenses will likely be up in the third quarter from the second, driven by rises in costs related to preparing for the stress tests.

    Mr. Gerspach expects consumer revenue to grow modestly both on a year-over-year and a sequential basis, and treasury and trade-solutions revenue to be up from a year ago.

    He said trading revenue ultimately depends on how September plays out, noting that he expects the month to be better than August, which in turn was weaker than July.

    Citigroup’s trading results, like those of rival investment banks, have seen a string of sharp declines beginning in the third quarter of last year, amid uncertainty about the Fed’s plans to taper its bond purchases. In the third quarter of 2013, Citigroup reported its fixed-income trading revenue fell 26% from a year earlier to $2.78 billion, while equity-market revenue rose 36% from the prior year.

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    Musk speaks, investors listen — and dump Tesla

    SAN FRANCISCO (MarketWatch) — Tesla Motors Inc. shares on Friday took their worst tumble in two months, as investors took a cue from CEO Elon Musk and locked in profits.

    Musk stirred up investors by saying on CNBC Thursday that the stock is “kind of high.”

    Tesla TSLA, -3.02% shares were off nearly 4% on Friday, a day after it officially selected Nevada to house its $5 billion battery factory. Shares are still up 2% so far on the week.

    The stock hit an intraday high of $288 on Wednesday and a closing high of $284.80 on Tuesday. Shares have risen 86% this year, more than 10 times the gains for the S&P 500 index. SPX, +0.50%

    “If you need an excuse to take profits, the CEO of the company saying ‘hey, we are not cheap’ is a good one,” said Efraim Levy, an analyst with S&P Capital IQ.

    The selection of Nevada brought to an end months of speculation about the ‘gigafactory’ location. The state needs to chip in with a $1.25 billion tax-incentive package, which includes sales tax and property tax abatements, tax credits, and even discounted electricity rates.

    “Nevada made sense throughout,” said Levy.

    Tesla’s demands ‘a bridge too far’ for some

    Key to Tesla’s selection are thought to be Nevada’s tax environment (the state has no income tax and no inventory tax), proximity to the electric car maker’s factory and headquarters in California, and the generous incentives it offered.

    Nevada is also home to the only producing lithium mine in the U.S.

    Ultimately, Tesla demands were a “bridge too far” for California., politicians there said Thursday.

    Tesla’s makes its cars in Fremont, east of San Francisco, and is headquartered in Palo Alto, south of San Francisco.

    Nevada’s state legislature will convene next week to discuss and very likely approve the tax incentives. It would allow Tesla to operate in the state tax-free for a decade, which has stirred some criticism from both sides of the aisle.

    “The enormity of Tesla’s project cannot be ignored,” said Joe Harpaz, a managing director at Thomson Reuters’ tax and accounting unit. Nevada expects the Tesla project to generate $100 billion in economic impact over 20 years.

    With the plant would also come “untold startups” and ancillary technology companies likely to be “pulled into the orbit around Tesla’s new center of gravity,” Harpaz said.

    The project is sure to hit its share of bumps along the way, “but Nevada’s bold move has the potential to rewrite the rules of local tax incentives as we have known them,” he added.


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    Alibaba to set IPO price range at $60 to $66 a share

    Chinese e-commerce giant Alibaba Group Holding Ltd. is expected to set the price range of its initial public offering at $60 to $66 a share, according to a person familiar with the matter, valuing the company at about $160 billion at the midpoint of the range.

    It isn’t unusual for companies seeking to go public to set an initial price range that proves to be below where the offering eventually prices. With both Facebook Inc.FB, +1.72% and Twitter Inc. TWTR, +0.92% , the final price on the deal was higher than the initial range.

    The Chinese e-commerce company is expected to launch the deal this month and plans to list under the symbol “BABA” BABA, +0.00% on the New York Stock Exchange.

    The setting of a price will be followed by a nearly two-week “roadshow” that will involve meeting with big groups of investors, as well as one-on-one pitches, in Asia, Europe and the U.S.

    The Wall Street Journal reported earlier Friday that Alibaba is planning to let employees and other people close to the company to buy some shares in its impending offering.

    An expanded version of this report appears at


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