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Stock Market & Financial Investment News

News Breaks
May 30, 2014
08:01 EDTABBVAbbVie presents results from Phase 1 study with ABT-414
AbbVie released preliminary results from an ongoing Phase I study with ABT-414, an anti-epidermal growth factor receptor monoclonal antibody drug conjugate, in combination with temozolomide, which showed four objective responses, including one complete response, in patients with recurrent or unresectable glioblastoma multiforme. Specifically, one patient experienced a complete response (CR) and three patients experienced partial responses as measured with the Revised Assessment in Neuro-Oncology criteria. Later stage clinical trials are being planned to continue to investigate ABT-414 in patients with glioblastoma multiforme.
News For ABBV From The Last 14 Days
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January 30, 2015
09:48 EDTABBVAbbVie sees 100bps of gross margin improvement if FX rates are stable
09:35 EDTABBVAbbVie sees high teens revenue growth on an operational basis in FY15
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09:34 EDTABBVAbbVie sees high teens revenue growth on an operational basis in FY15
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09:33 EDTABBVAbbVie sees Q1 adjusted EPS 82c-84c, consensus 85c
09:30 EDTABBVAbbVie confirms FY15 guidance issued earlier this month
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07:50 EDTABBVAbbVie reports Q4 Humira sales up 10.6% to $3.36B
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07:49 EDTABBVAbbVie sees FY15 adjusted EPS $4.25-$4.45, consensus $4.37
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07:48 EDTABBVAbbVie reports Q4 GAAP revenue $5.45B, consensus $5.36B
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07:48 EDTABBVAbbVie reports Q4 adjusted EPS 89c, consensus 86c
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January 29, 2015
15:37 EDTABBVNotable companies reporting before tomorrow's open
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14:46 EDTABBVAbbVie technical comments ahead of earnings, levels to watch
The shares have been trending down since hitting the 52-week high of $70.76 back in early December of last year. At the current price of $63.01, the first important support level to watch on negative news or outlook would be at the 200-day moving average, last at $58.04. A test and a bounce there would be bullish, while a breakdown would be bearish for the longer-term uptrend. Levels to watch below the 200-day are at $56.51, and then at $55.80. If the news is a positive surprise, the first resistance level of note as a potential upside objective is at the $65 area. A breakout above $65 would turn the trend to bullish, with next resistance levels at $67.16, $68.29, and the 52-week high at $70.76.
13:38 EDTABBVEarnings Preview: AbbVie reports Q4 results after FDA Viekira Pak approved
AbbVie (ABBV) is scheduled to report fourth quarter earnings before the market open on Friday, January 30 with a conference call scheduled for 9:00 am ET. EXPECTATIONS: Analysts are looking for earnings per share of 86c on revenue of $5.36B, according to First Call. The consensus range for EPS is 82c-90c on revenue of $5.17B-$5.59B. LAST QUARTER: AbbVie reported third quarter EPS of 89c, considerably higher than consensus estimates of 77c, on revenue of $5.02B against estimates of $4.82B. The company raised its fiscal year 2014 EPS view to $3.25-$3.27 from $3.06-$3.16 against consensus estimates of $3.16. On its Q3 earnings conference call the company said it is "well on track" to exceed original Humira sales forecast for FY14. CEO Richard Gonzalez commented on the quarter, "Our Q3 results reflect the strong performance of our business with double-digit growth from Humira and several other key brands. Our underlying business grew nearly 14% in the quarter excluding lipids, We exceeded our outlook for the quarter and have significantly raised our original 2014 guidance. In Q4, we look forward to the U.S. approval of our interferon-free HCV combination, which will further accelerate sales and earnings growth in 2015 and beyond." STREET RESEARCH: On January 9, BofA/Merrill downgraded AbbVie to Neutral based on valuation with a price target of $70. On January 6, UBS raised its price target on AbbVie shares to $76 from $72, citing increased market share assumptions for the company's Viekira Pak Hep C regimen and a more favorable view of the regimen's approval chances in the EU. The firm maintained its Buy rating on the stock. PRICE ACTION: AbbVie shares are up around 3% since the company's last earnings report on October 31 and are up around 1.5% to $62.83 in midday trading ahead of Friday's earnings release.
January 16, 2015
10:10 EDTABBVAbbVie announces FDA approval of DUOPA enteral suspension
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07:04 EDTABBVEnanta says EU grants marketing authorizations for AbbVie's Viekirax
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05:05 EDTABBVAbbVie granted marketing authorization by EC for VIEKIRAX + EXVIERA
AbbVie announced that the European Commission has granted marketing authorizations for its all-oral, short-course, interferon-free treatment of VIEKIRAX + EXVIERA. The treatment has been approved with or without ribavirin for patients with genotype 1 chronic hepatitis C virus infection, including those with compensated liver cirrhosis, HIV-1 co-infection, patients on opioid substitution therapy and liver transplant recipients.1,2 Additionally, VIEKIRAX has been approved for use with RBV in genotype 4 chronic hepatitis C patients.

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