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Stock Market & Financial Investment News

News Breaks
July 8, 2014
16:23 EDTABBV, SHPG, NFLX, FB, TXMD, IPCI, LRCXOn The Fly: Closing Wrap
Stocks on Wall Street opened lower and stayed in negative territory for the entire session. The tech-heavy Nasdaq was weighed down by slides in a number of "momentum" stocks, while the Dow fell below 17,000 after having eclipsed that milestone for the first time to end last week. The declines came as investors prepare for earnings season, which unofficially kicked off when Alcoa (AA) reported after today's closing bell. ECONOMIC EVENTS: In the U.S., the Job Openings and Labor Turnover, or JOLTs, report showed a 171K increase in job openings to 4.635M, marking a fourth straight monthly gain. Consumer credit grew $19.6B in May, which was fairly in-line with expectations for it to be up $19.8B. COMPANY NEWS: Shares of both AbbVie (ABBV) and Shire (SHPG) fell, despite the U.S. drug company raising its takeover bid for its U.K. peer by 11% to over $51B in cash and stock. Shire responded by saying that AbbVie did not make the revised proposal to Shire before the announcement and that its board will meet to consider the revised offer. Following the announcement of the new bid, Shire shares trading in New York fell $4.55, or 1.92%, to $232.92, while AbbVie slipped $1.71, or 2.98%, to $55.69. MAJOR MOVERS: Among the notable gainers was TherapeuticsMD (TXMD), which rose $1.34, or 32.45%, to $5.47 after research firm FBR Capital initiated the stock with an Outperform rating and $34 price target. Also higher was Lam Research (LRCX), which gained $1.06, or 1.54%, to $69.67 after providing updated financial guidance at its analyst and investor meeting. Among the noteworthy losers was Intellipharmaceutics (IPCI), which fell 52c, or 13.33%, to $3.38 after reporting a net loss for its second fiscal quarter. Also lower were shares of a number of prominent technology "momentum" stocks, including Facebook (FB), which slid $2.53, or 3.88%, to $62.76, and Netflix (NFLX), which dropped $15.57, or 3.38%, to $445.05. INDEXES: The Dow lost 117.59, or 0.69%, to 16,906.62, the Nasdaq declined 60.07, or 1.35%, to 4,391.46, and the S&P 500 dropped 13.94, or 0.7%, to 1,963.71.
News For ABBV;SHPG;NFLX;FB;TXMD;IPCI;LRCX From The Last 14 Days
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July 14, 2014
09:36 EDTFBActive equity options trading on open
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09:34 EDTABBVAbbVie falls after revised Shire acquisition proposal, levels to watch
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09:25 EDTFBGoogle looked to Page, Brin to woo Facebook workers, WSJ says
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09:16 EDTABBV, SHPGOn The Fly: Pre-market Movers
HIGHER: Citigroup (C), up 3.6% after reporting better than expected Q2 results, announcing $7B settlement with DOJ and FDIC... Apple (AAPL), up 0.7% after Barclays upgrades stock to Overweight, Morgan Stanley raises Apple estimates above consensus... Shire (SHPG), up 1.6% after receiving revised proposal from AbbVie (ABBV) of GPB 53.20 per share, which it says it would be willing to recommend to Shire shareholders. AbbVie is down 2.8% after the news... Mylan (MYL), up 4% after acquiring Abbott's (ABT) non-U.S. developed markets specialty and branded generics business in all-stock transaction valued at about $5.3B. Abbott up 1.6% after the news... Progenics (PGNX), up 13% after FDA says RELISTOR can be approved on data submitted in sNDA... Exelixis (EXEL), up 13% after announcing coBRIM Phase 3 trial met primary endpoint... URS (URS) up 8% after acquired by AECOM Technology (ACM) for $56.31 per share. AECOM shares alos up 2% after deal announcement... Whiting Petroleum (WLL), up 4.5% after agreeing to acquire Kodiak Oil & Gas (KOG) in a $6B transaction. Kodiak Oil & Gas up 3%... Kandi Technologies (KNDI), up 11% after announcing JV's sale of 4,114 EVs in Q2. LOWER: Riverbed (RVBD), down 4.5% after saying it sees its Q2 adjusted EPS at low end of 26c-28c range... Harmonic (HLIT), down 13% after reporting preliminary Q2 earnings results.. EBay (EBAY), down 0.5% after downgraded at Pacific Crest, confirming partnership plans with Sotheby's (BID).
07:22 EDTFBFacebook poised to report stronger than expected Q2 results, says Oppenheimer
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06:03 EDTSHPGStocks with implied volatility below IV index mean; BBBY SHPG
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05:27 EDTSHPG, ABBVShire receives revised proposal from AbbVie of GPB 53.20 per share
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July 13, 2014
17:10 EDTSHPG, ABBVShire said to seek bid of near 53 pounds per share from AbbVie, Reuters says
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July 11, 2014
16:46 EDTSHPG, ABBVStocks end week lower on European, Fed concerns
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15:59 EDTFBOptions Update; July 11, 2014
iPath S&P 500 VIX Short-Term Futures down 33c to 28.25. Option volume leaders: AAPL C GILD X FB GOOG AMZN TWTR TSLA according to Track Data.
14:13 EDTSHPG, ABBVShire, AbbVie didn't commit to further talks, Dow reports
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13:58 EDTSHPG, ABBVShire confirms meeting with AbbVie representatives
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11:54 EDTSHPG, ABBVAbbVie, Shire in active takeover talks, Bloomberg reports
AbbVie (ABBV) and Shire (SHPG) are in active talks about a potential merger after AbbVie raised its takeover offer for a fourth time, Bloomberg reports, citing people with knowledge of the matter. The talks are in the early stage and may not lead to an agreement, sources told Bloomberg. Shares of Shire are up 5%, or $12.04, to $250.65 following the report.
11:34 EDTABBV, SHPGShire jumps 5% after Bloomberg report on talks with AbbVie
11:33 EDTABBV, SHPGShire, AbbVie held talks after latest raised takeover offer, Bloomberg says
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09:37 EDTFBActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL WFC C SUNE FB AMZN TSLA TWTR
08:59 EDTNFLXNetflix price target to $500 on international opportunity at Raymond James
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07:42 EDTFBFacebook should move higher on strong quarter, says Deutsche Bank
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06:29 EDTABBVAbbVie encourages largest Shire shareholders to pursue talks, Bloomberg says
Shire (SHPG) is hearing from its largest shareholders who are encouraging the company to come to the table and work out an agreement with AbbVie (ABBV), according to Bloomberg, citing three people familiar with the matter. AbbVie is targeting Shire in a $51.1B takeover offer. Reference Link
06:10 EDTFB, NFLXJPMorgan expects solid Q2 results in Internet space
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