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Stock Market & Financial Investment News

News For AAPL;HMY;MRK;BAC From The Last 14 Days
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December 11, 2014
08:46 EDTAAPLApple Watch mass production rumored to start in January, AppleInsider says
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08:27 EDTMRKNewLink Genetics falls after Ebola vaccine trial suspended
Shares of NewLink Genetics (NLNK) are falling in pre-market trading after a clinical trial of the Ebola vaccine being developed by the company and partner Merck (MRK) was temporarily suspended as a precautionary measure after four patients complained of joint pains in their hands and feet, the University of Geneva Hospital said. The trials are scheduled to resume next month in up to 15 volunteers after checks to make sure that the joint pain symptoms were benign and temporary, the hospital added. Shares of NewLink are down 6.5% to $34.50 in early morning trading following the news, while Merck shares are indicated to open fractionally higher.
08:09 EDTAAPLGoogle shares pricing in loss of Apple search deal, says Citigroup
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06:35 EDTAAPLUnited's 23,000 flight attendants to get iPhone 6 Plus, Business Insider reports
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06:32 EDTAAPLGlobalfoundries hope to win orders from Qualcomm and Apple, DigiTimes reports
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December 10, 2014
16:00 EDTBAC, MRK, AAPLOptions Update; December 10, 2014
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14:20 EDTAAPLUnited Continental providing 23,000 flight attendants with iPhone 6 Plus
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13:45 EDTMRKMerck's Gardasil 9 approved by FDA
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12:24 EDTBACOn The Fly: Midday Wrap
Stocks on Wall Street opened in negative territory and have remained there throughout the morning. The averages have moved in a narrow range as the price of crude continues to fall. Near noon, WTI crude was down another 5% to roughly $60 per barrel. The weakness is effecting equities, as investors are concerned the oil price weakness is indicative of the slowing global economy. ECONOMIC EVENTS: In the U.S., House and Senate lawmakers reportedly reached a deal on a nearly $1.1T bill to fund most of the government through September and avert a shutdown. The EIA estimated crude oil supplies grew 1.5 Mmbbls last week, while consensus expected a 2.7 Mmbbls decrease. The Treasury budget statement for November is expected at 2:00 pm ET, with the consensus expectation for a deficit of $63B. COMPANY NEWS: Shares of JPMorgan (JPM) declined 2% after guidelines proposed yesterday by the Federal Reserve would likely result in the firm managing to a higher capital buffer. Additionally, JPMorgan CFO Marianne Lake, speaking earlier at a Goldman Sachs conference, said the bank sees its Q4 reported markets revenues down by a "high teens" percentage and that its "core" markets performance in Q4, excluding the sale of physical commodities and allocation of preferred dividend expense, is indicated down 4% to-date compared to last year's quarter. Lake became the latest bank executive to discuss a Q4 trading slump, after Bank of America (BAC) CEO Brian Moynihan, speaking yesterday at the same financial conference, said the bank expects its Q4 trading revenue to be down on both a linked-quarter and year-over-year basis. Also yesterday, Citigroup (C) CEO Michael Corbat estimated that the bank's Q4 markets revenue would be down year-over-year by about 5%. MAJOR MOVERS: Among the notable gainers was Analogic (ALOG), which rose 12% after the company reported better than expected quarterly earnings. Also higher was Novadaq (NVDQ), which gained 11.5% after the company signed a multi-year distributor agreement with LifeNet Health that analysts at Canaccord said could potentially be a big deal and materially help its near and long-term prospects. Among the noteworthy losers was Yum! Brands (YUM), which dropped nearly 5% after the owner of the KFC, Pizza Hut and Taco Bell brands issued a negative preannouncement on its China business and provided lower than expected 2015 EPS guidance. Also lower were shares of Krispy Kreme (KKD), which sunk 8% after the donut maker reported weaker than expected earnings and revenue. INDEXES: Near midday, the Dow was down 164.41, or 0.92%, to 17,636.79, the Nasdaq was down 32.79, or 0.69%, to 4,733.68, and the S&P 500 was down 17.43, or 0.85%, to 2,042.39.
11:03 EDTBACJPMorgan drops 2% after CFO talks down Q4 numbers
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09:36 EDTAAPLActive equity options trading
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08:47 EDTMRKMerck, IBCSG, BIG announce opening of PANACEA study
The International Breast Cancer Study Group, Breast International Group, and Merck announced the opening of the PANACEA study, a global collaborative study exploring a new way to treat HER2+ breast cancer that has become resistant to the current standard of care. The PANACEA study will investigate the use of pembrolizumab in combination with trastuzumab to evaluate whether the addition of an anti-PD-1 therapy can reverse trastuzumab resistance in patients with HER2+ breast cancer whose cancer has spread while on trastuzumab therapy. The trial, “Anti-PD-1 Monoclonal Antibody in Advanced, Trastuzumab-resistant, HER2+ Breast Cancer,” is a Phase 1b/2 study in patients with HER2+ breast cancer whose cancer has spread while on treatment with trastuzumab. Primary outcome measures of the study are recommended dose and efficacy and safety profile of pembrolizumab in combination with trastuzumab. Response will be assessed by RECIST 1.1 criteria. Secondary outcome measures include safety and tolerability, disease control, duration of response, time to progression, progression-free survival and overall survival. The study is enrolling adult females with unresectable or metastatic breast adenocarcinoma with confirmed HER2-positivity. There are 10 sites participating in the study across Europe and Australia: Peter MacCallum Cancer Centre and Westmead Hospital in Australia; Medical University of Vienna in Austria; Jules Bordet Institute and CHU Sart Tilman in Belgium; Institut de Cancérologie de l’OUEST, Centre Léon Bérard and Institut Gustave Roussy in France; and Istituto Europeo di Oncologia Milano and Azienda USL4 Prato in Italy.
08:36 EDTAAPLApple, IBM deliver first wave of IBM MobileFirst for iOS apps
Apple (AAPL) and IBM (IBM) have delivered the first wave of IBM MobileFirst for iOS solutions in a new class of made-for-business apps and supporting cloud services that bring IBM’s big data and analytics capabilities to iPhone and iPad users in the enterprise. IBM MobileFirst for iOS solutions are now available to enterprise customers in banking, retail, insurance, financial services, telecommunications and for governments and airlines, thanks to an unprecedented collaboration between Apple and IBM. IBM clients today announcing support for IBM MobileFirst for iOS solutions include: Citi, Air Canada, Sprint and Banorte.
08:32 EDTMRKMerck announces early findings showing 18.5% overall response rate with Keytruda
Merck announced early study findings demonstrating an overall response rate of 18.5% with KEYTRUDA, the company’s anti-PD-1 therapy, as assessed by RECIST v1.1, central review in PD-L1 positive, advanced triple-negative breast cancer – one of the most aggressive forms of breast cancer. At the time of analysis, the median duration of response had not been reached with three of five responders on therapy for 11 months or more. These early findings, from the ongoing Phase 1b KEYNOTE-012 study, were shared today for the first time as part of the official press program at the 2014 San Antonio Breast Cancer Symposium and will be presented in an oral session at 10:45 a.m. CST by Dr. Rita Nanda, the University of Chicago. Data presented were from a cohort of the ongoing Phase 1b KEYNOTE-012 study which evaluated KEYTRUDA monotherapy at 10 mg/kg every two weeks in patients with advanced TNBC whose tumors were determined to be positive for PD-L1 expression. As measured by Merck’s proprietary PD-L1 immunohistochemistry clinical trial assay, tumors were considered to be PD-L1 positive if staining was present in the stroma or in greater than or equal to one percent of tumor cells. In the study, 58 percent of patients screened had tumors determined to be positive for PD-L1 expression. Most patients enrolled in this study had received two or more prior chemotherapies for metastatic disease and 87.5 percent had received prior neo-adjuvant or adjuvant therapy.
06:38 EDTAAPLBose products to return to Apple stores, 9to5Mac reports
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06:22 EDTAAPLChina touch panel makers suffer as smartphone inventory rises, DigiTimes reports
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December 9, 2014
18:20 EDTAAPLApple to establish R&D center in Japan, Nikkei reports
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16:28 EDTMRKOn The Fly: Closing Wrap
Stocks on Wall Street opened in the red on the heels of a sharp sell-off in China and amid continued concern over tumbling oil prices. The domestic economic calendar offered little in the way of a catalyst and the market moved in a narrow range throughout the morning. However, the averages began to pare their losses once the European markets closed. By mid-afternoon the averages had turned mixed with the Nasdaq higher, the S&P flat, and the Dow the laggard, which is the way the trading day closed. ECONOMIC EVENTS: In the U.S., the National Federation of Independent Business' optimism index rose to 98.1 from a prior reading of 96.1. The JOLTS report showed job openings increased 149K to 4.83M in October, which was above the expectation for 4.795M openings. Wholesale sales increased 0.2% in October and inventories grew 0.4%, both of which were better than expected. In Asia, China's Shanghai composite index plunged 5.4%, making for the stock market's sharpest selloff in years, after the country’s securities clearing house raised the threshold for the type of collateral used for short-term loans and policymakers warned about potentially slower economic growth. In Europe, Greek stocks and bonds also tumbled after a move to bring forward presidential elections, which could potentially derail Greece’s bailout and austerity efforts. COMPANY NEWS: Verizon (VZ) was among the Dow's worst performers, sinking $1.98, or 4.05%, to $46.92 after the company warned that Q4 impacts of its promotional offers, together with the strong customer volumes this quarter, will put short-term pressure on its earnings per share. After last night's commentary from the company, Robert W. Baird downgraded Verizon shares to Neutral from Outperform and lowered its price target on the stock to $50 from $54... Merck (MRK) also weighed on the Dow, as the drugmaker fell $1.87, or 3.02%, to $60.01 after a Delaware court denied Cubist's (CBST) bid to stop Hospira (HSP) from selling a generic version of Cubicin in 2016. Merck announced just yesterday morning that it had agreed to buy Cubist in a transaction with a total value of approximately $9.5B. The news is a "tough start" to Merck's takeover and makes the $9.5B buyout price look $2B to $3B too high, according to analysts at Leerink. Shares of Cubist also fell $xxx, or xxx%, to $xxx following the court ruling. MAJOR MOVERS: Among the notable gainers was bluebird bio (BLUE), which surged $35.39, or 72.39%, to $84.28 after the company announced data from eight subjects treated with its LentiGlobin drug product and Piper Jaffray more than doubled its price target for the shares to $112 from $52. Among the noteworthy losers was Conn's (CONN), which plunged $14.26, or 40.64%, to $20.83 after unexpectedly reporting losses for its third fiscal quarter, withdrawing its FY15 guidance and announcing the departure of its CFO. Also lower was Spirit Airlines (SAVE), which slid $10.70, or 12.67%, to $73.77 after the company said last night that since late October there has been compression in the fare structure for close-in bookings, believed to be driven by the industry’s willingness to trade lower fuel prices for lower fares. Also, this morning, Raymond James downgraded Spirit Airlines to Market Perform from Outperform, citing valuation, European deflation headwinds, and earnings that are still being revised down. INDEXES: The Dow fell 51.28, or 0.29%, to 17,801.20, the Nasdaq rose 25.77, or 0.54%, to 4,766.46, and the S&P 500 slipped 0.49, or 0.02%, to 2,059.82.
16:00 EDTBAC, AAPLOptions Update; December 9, 2014
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14:57 EDTBACFed to propose rulemaking on risk-based capital surcharges for GSIB banks
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