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Stock Market & Financial Investment News

News Breaks
November 12, 2012
12:55 EDTACHN, ABT, GILDAchillion drops after competitors report promising HCV data
Achillion (ACHN), which is developing a hepatitis C virus, or HCV, treatment, is retreating after two other companies reported that their HCV treatments had performed well in tests. Gilead (GILD) reported that it did not detect HCV in the RNA of 25 HCV patients four weeks after they were treated with the company's investigational drug. Meanwhile, Abbott (ABT) said that its HCV treatment, SVR12, had produced "high sustained viral response rates" in patients. In a note to investors earlier today, Deutsche Bank analyst Alethia Young wrote that she expects Gilead to obtain 65% of the HCV market, but she predicts that Achillion will garner a 15% share. Moreover, the analyst believes that Achillion's treatment is simpler and better than that of Abbott. She thinks that the decline in Achillion's stock today is overdone, and recommends buying the shares on weakness. Similarly, Wells Fargo analyst Brian Abraham believes that Achillion's data suggests that its treatment could be as good as or better than that of Abbott’s. Achillion is well-positioned to participate in the HCV market, and today's weakness has created an attractive entry point in the stock, he wrote. In early afternoon trading, Achillion slumped $1.06, or 11.76%, to $7.91.
News For ACHN;ABT;GILD From The Last 14 Days
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July 21, 2014
09:38 EDTGILDActive equity options trading on open
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07:21 EDTGILDGilead could be hurt by new HCV drugs, says Wells Fargo
Noting that data on a new Merck (MRK) HCV treatment is expected in November, Wells Fargo thinks Merck's HCV drug could be combined with Gilead's (GILD) Sovaldi to shorten the duration of treatment to four weeks. Other companies could take similar actions, and Gilead's per patient revenues would be significantly reduced if this occurs, the firm warned. However, it continues to have an upbeat outlook on Gilead heading into what it sees as a strong quarter and is still upbeat on the company's long-term HCV opportunity. It keeps an Outperform rating on Gilead.
06:43 EDTGILDGrowing market for hepatitis-C treatment prompts legal scramble, WSJ says
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July 20, 2014
12:46 EDTGILDGilead drug cocktail helps treat HIV/HCV-coinfected patients, JAMA says
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July 18, 2014
16:47 EDTABTMarket ends week higher as earnings, M&A offset geopolitical tensions
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12:51 EDTABTKey GOP senator signals readiness for inversion deal, The Hill says
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July 17, 2014
07:06 EDTABTAbbott price target raised to $47 from $42 at Stifel
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July 16, 2014
11:57 EDTGILDStocks with call strike movement; GILD YHOO
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10:36 EDTABTTreasury calls on Congress to halt inversion deals
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09:25 EDTABTAbbott expects Global Nutrition sales to return to double digit growth in 2H14
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09:23 EDTABTOn The Fly: Pre-market Movers
HIGHER: Time Warner (TWX), up 15% after company confirmed that it rejected an $80B takeover offer from 21st Century Fox (FOX, FOXA), as had been reported earlier this morning... Apple (AAPL), up 2% after announcing an enterprise mobile partnership with IBM (IBM), which is also up 2%... International Game (IGT), up 9.5% after agreeing to be acquired by GTECH for $4.7B in cash and stock... FireEye (FEYE), up 5% after shares upgraded at Goldman... Precision Drilling (PDS), up 4% after announcing strategic agreement with Schlumberger (SLB), upgraded at Deutsche Bank... Mellanox (MLNX), up 4.7% following upgrade at Jefferies. UP AFTER EARNINGS: Intel (INTC), up 5.4%... HCA Holdings (HCA), up 6%... Textron (TXT), up 3.2%... Abbott (ABT), up 1%. DOWN AFTER EARNINGS: PNC Financial (PNC), down 2.5%... MGIC Investment (MTG), down 3.6%. LOWER: Yahoo (YHOO), down 3% after downgraded at CRT Capital following second quarter earnings report... Ares Capital (ARCC), down 2.5% after filing to sell 11.85M shares of common stock... Nationstar (NSM), down 2.4% after downgraded at Wells Fargo... Walter Investment (WAC), which was also downgraded at Wells Fargo, down 1.6%.
09:17 EDTABTAbbott sees Q3 ongoing EPS 59c-61c, consensus 60c
Sees Q3 revenue growth in mid-single digits, consensus $5.63B. Expects neutral impact from foreign exchange.
09:16 EDTABTAbbott sees FY14 revenue growth in mid single digits, consensus $22.42B
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09:03 EDTABTSanofi held talks on mature drugs with Abbott, Mylan, PE firms, Reuters says
Sanofi (SNY) has shopped an $8.5B portfolio of mature drugs to Abbott (ABT), Mylan (MYL) and private equity firms, according to Reuters, citing an internal company document circulated by the CGT union. Sanofi is considering whether to sell, carve out or create a joint venture for the portfolio of about 200 drugs, but a Sanofi spokesman said no decision has yet been made, the report noted. Reference Link
08:16 EDTABTLew's letter could bring 'chilly' tax inversion environment, says BMO Capital
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07:59 EDTABTTreasury Secretary urges Congress to take action on tax inversions
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07:49 EDTABTAbbott reports Q2 Nutrition sales $1.73B; Reports Q2 Diagnostics sales $1.19B
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07:47 EDTABTAbbott says it's on track for sales growth acceleration in 2H14
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07:46 EDTABTAbbott raises FY14 ongoing EPS to $2.19-$2.29 from $2.16-$2.26, consensus $2.19
07:46 EDTABTAbbott reports Q2 ongoing EPS 54c, consenus 51c
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