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Stock Market & Financial Investment News

News Breaks
May 15, 2014
10:01 EDTSUSQ, RAX, PBCT, MPET, LEJU, ICPT, ITW, GLRI, GSK, FCF, EBS, CHKE, CAMP, BDSI, ACADOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: ACADIA (ACAD) initiated with an Overweight at JPMorgan... BioDelivery Sciences (BDSI) initiated with a Buy at Summer Street... CalAmp (CAMP) initiated with an Overweight at Stephens... Cherokee (CHKE) initiated with a Buy at B. Riley... Emergent BioSolutions (EBS) initiated with a Buy at Summer Street... First Commonwealth (FCF) initiated with a Neutral at SunTrust... GlaxoSmithKline (GSK) initiated with an Overweight at JPMorgan... Glori Energy (GLRI) initiated with a Buy at Maxim... Illinois Tool Works (ITW) reinstated with a Neutral at Credit Suisse... Intercept (ICPT) initiated with a Buy at Summer Street... Leju (LEJU) initiated with an Outperform at Macquarie... Magellan Petroleum (MPET) initiated with a Buy at B. Riley... People's United (PBCT) initiated with a Neutral at SunTrust... Rackspace (RAX) assumed with an Overweight at JPMorgan... Susquehanna (SUSQ) initiated with a Neutral at SunTrust.
News For ACAD;BDSI;CAMP;CHKE;EBS;FCF;GSK;GLRI;ITW;ICPT;LEJU;MPET;PBCT;RAX;SUSQ From The Last 14 Days
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July 22, 2014
09:55 EDTGSKLupin, private equity funds weigh bids for GSK's older drugs, Reuters reports
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July 21, 2014
07:15 EDTRAXO'Reilly to hold a conference
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07:11 EDTGSKInternational Society of DNA Vaccines to hold a conference
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06:17 EDTCHKECove Capital reports 11% passive stake in Cherokee
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July 18, 2014
08:28 EDTPBCTPeople's United announces formation of joint venture with Vantiv
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08:28 EDTPBCTPeople's United reports Q2 operating EPS 20c, consensus 21c
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07:33 EDTLEJULeju signs strategic agreements with secondary brokerage agencies in China
Leju announced that it has signed strategic agreements with over 100 secondary brokerage agencies in 17 key cities in China, including four secondary brokerage agency alliance groups in Hangzhou, Qingdao, Chongqing and Xi'an. The participating brokerage agencies include 5i5j, Centaline, Century 21 China Real Estate, Home Link, and My Top Home, among others. Under these agreements, Leju and the participating agencies have agreed to jointly promote verified listings of secondary housing information and to provide accurate and authentic housing listings to consumers. Official signing ceremonies were held by Leju today in Hangzhou and Qingdao with the local brokerage agency alliances in those cities.
July 17, 2014
08:09 EDTGLRIGlori Energy initiated with an Outperform at FBR Capital
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07:18 EDTGSKMylan wins motion to enjoin GlaxoSmithKline from production of generic product
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06:43 EDTCAMPCalAmp initiated with an Outperform at William Blair
William Blair started shares of CalAmp with an Outperform rating, saying the company is positioned to benefit from the broader growth of the machine-to-machine and mobile resource management markets.
06:23 EDTGSKGlaxoSmithKline admits to bribing Chinese officials in 2001, FT reports
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July 16, 2014
12:08 EDTSUSQSusquehanna raises quarterly dividend to 9c from 8c per share
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07:14 EDTGSKIsis Pharmaceuticals earns $1M milestone payment from GlaxoSmithKline
Isis Pharmaceuticals (ISIS) has earned a $1M milestone payment from GlaxoSmithKline (GSK) related to the advancement of the Phase 2/3 study of ISIS-TTRRx in patients with familial amyloid polyneuropathy. ISIS-TTRRx is an antisense drug in development with GSK for the treatment of transthyretin amyloidosis, a severe and rare genetic disease characterized by progressive dysfunction of peripheral nerve and/or heart tissues. Including this milestone payment, Isis has generated $27M in upfront and milestone payments for advancing ISIS-TTRRx. If GSK elects to exercise its option to exclusively license the ISIS-TTRRx program, Isis is eligible to receive a license fee, regulatory and sales milestone payments and double-digit royalties on sales of ISIS-TTRRx.
05:38 EDTGSKGSK, Theravance initiate Phase III IMPACT study
GlaxoSmithKline (GSK) and Theravance (THRX) announced the start of a global phase III study, known as IMPACT, to evaluate the efficacy and safety of the 'closed' triple combination of FF/UMEC/VI in patients with chronic obstructive pulmonary disease, or COPD. IMPACT is the first pivotal phase III study in a programme to evaluate a once-daily closed triple combination treatment of an inhaled corticosteroid, or ICS; a long-acting muscarinic antagonist, or LAMA; and a long-acting beta2-adrenergic agonist, or LABA, in patients with COPD. The IMPACT study will enrol approximately 10,000 patients and assess whether the combination of FF, or fluticasone furoate, an ICS, UMEC, or umeclidinium, a LAMA, and VI, or vilanterol, a LABA, all delivered in GSK's Ellipta inhaler, can reduce the annual rate of moderate and severe exacerbations compared with two approved once daily COPD treatments, Relvar/Breo Ellipta, FF/VI, which is an ICS/LABA combination, and Anoro Ellipta, UMEC/VI, which is a LAMA/LABA combination.
July 15, 2014
12:21 EDTGSKOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday despite better than expected quarterly reports from two of the nation's largest financial institutions. Stock futures improved during the pre-market trading session, leading to a higher open for the broader market, following better than expected earnings reports from JP Morgan (JPM) and Goldman Sachs (GS). The earnings news also came alongside another huge M&A deal, as tobacco giants Reynolds American (RAI) and Lorillard (LO) confirmed plans to merge. However, the major averages weakened throughout the morning and fell into negative ground against the backdrop of Fed Chair Janet Yellen giving testimony on Capital Hill. In the Board of Governors' Monetary Policy Report, the central bank said valuation metrics in "some sectors" appear substantially stretched, "particularly those for smaller firms in the social media and biotechnology industries." ECONOMIC EVENTS: In the U.S., retail sales increased 0.2% in June compared to the month prior, making for the weakest reading since January and missing the consensus forecast for an increase of 0.6%. The Empire State manufacturing index climbed to a four-year high of 25.6 in July, beating expectations for a reading of 16.5. Import prices rose 0.1% in June, with export prices slipping 0.4%. Business inventories grew 0.5% in May, which was just below the 0.6% consensus growth expectation. In Europe, Germany's ZEW survey missed expectations, as both its Current Situation and Expectations reading were lower than forecast. COMPANY NEWS: Shares of JPMorgan advanced nearly 4% after the bank reported a profit of $1.46 a share, which included a legal expense of 13c a share, beating analysts' consensus forecast of $1.29. The earnings report comes after CEO Jamie Dimon recently disclosed that he has throat cancer. During the company's conference call, Dimon said he was "feeling great," that doctors had found no evidence of cancer anywhere except in the location where it had originally been detected, and that his prognosis for recovery is "excellent"... Also in the large-cap bank sector, Goldman Sachs' headline earnings and revenue similarly beat expectations. The firm, which said it ranks first in worldwide announced and completed mergers and acquisitions for the year-to-date, advanced about 1% following its report... Along with JPMorgan in the Dow Jones Industrial Average, Johnson & Johnson (JNJ) reported quarterly sales and profits that beat expectations and the healthcare conglomerate raised its fiscal year EPS view to $5.85-$5.92 from $5.75-$5.85. However, its increased outlook range still fell short of the $5.90 per share consensus forecast that analysts had prior to its report... Reynolds American confirmed news that has been speculated for many weeks, announcing that it will acquire peer Lorillard in a cash-and-stock transaction currently valued at $68.88 per Lorillard share, or a total of $27.4B, including the assumption of net debt. Shares of both fell afterward, with Lorillard down 8% to trade near $61.75 at midday and Reynolds slipping 5%. MAJOR MOVERS: Among the notable gainers was small-cap pharma biotechnology research company Codexis (CDXS), which surged nearly 50% after announcing a collaboration and license agreement with GlaxoSmithKline (GSK). Among the noteworthy losers was Aaron's (AAN), which is engaged in the lease ownership and retail sale of a variety of consumer products. Its stock fell over 6% after the company lowered its second quarter outlook, citing lower than expected performance of its core business as the reason for the revision. INDEXES: Near midday, the Dow was down 33.45, or 0.2%, to 17,021.97, the Nasdaq was down 40.48, or 0.91%, to 4,399.94, and the S&P 500 was down 9.24, or 0.47%, to 1,967.86.
11:07 EDTRAXRackspace new cloud pricing a differentiator, says Wells Fargo
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09:21 EDTGSKOn The Fly: Pre-market Movers
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09:12 EDTRAXRackspace introduces new service-based pricing model
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09:03 EDTACADACADIA names Stephen Davis as EVP, CFO, Chief Business Officer
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05:05 EDTFCFFirst Commonwealth announces new mortgage banking division
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