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Stock Market & Financial Investment News

News Breaks
June 20, 2014
09:46 EDTACHN, MRK, IDIXIdenix received bid above $18.00 per share prior to deal with Merck
In a regulatory filing, Merck (MRK) disclosed that, on June 3, the company submitted a revised proposal to acquire all of the outstanding shares of Idenix (IDIX) at a price per share of $18.00 in cash. On June 6, Centerview contacted Credit Suisse to inform Merck that its June 3rd proposal did not represent the highest price per share of any proposal received. Also on June 6, immediately following a meeting of the Idenix Board, representatives of Centerview contacted representatives of Merck to request that the company submit a best and final proposal by June 8. On June 8, Merck submitted its best and final proposal to acquire all of the outstanding shares at a price of $24.50 per share in cash, which was subsequently accepted and announced on June 9. Shares of Idenix peer Achillion Pharmaceuticals (ACHN) are up 4.7% to $8.46 in early trading following the disclosure that a bidder other than Merck had previously offered to buy Idenix for greater than $18.00 per share.
News For ACHN;IDIX;MRK From The Last 14 Days
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November 17, 2014
11:55 EDTMRKMerck says IMPROVE-IT study met all primary, secondary endpoints
Merck announced that the investigational IMPROVE-IT study met its primary and all secondary composite efficacy endpoints. In IMPROVE-IT, patients taking the LDL-cholesterol-lowering medicine VYTORIN Ė which combines simvastatin with the non-statin ZETIA -- experienced significantly fewer major cardiovascular events than patients treated with simvastatin alone. The results from this 18,144-patient study of high-risk patients presenting with acute coronary syndromes were presented today during the late-breaking clinical trials session at the American Heart Association 2014 Scientific Sessions. Merck plans to submit the data from IMPROVE-IT to the U.S. Food and Drug Administration in mid-2015 to support a new indication for reduction of major cardiovascular events for VYTORIN and ZETIA. VYTORIN and ZETIA are currently indicated for use along with a healthy diet to reduce elevated LDL cholesterol in patients with hyperlipidemia. The current U.S. Prescribing Information for both products states that the effect of ezetimibe on cardiovascular morbidity and mortality, alone or incremental to statin therapy, has not been determined.
08:34 EDTMRKMerck says IMPROVE-IT met primary endpoint
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November 16, 2014
13:26 EDTMRKMerck: KEYTRUDA showed superiority to chemotherapy for primary endpoint of PFS
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November 14, 2014
14:53 EDTMRKCVS Express Scripts implementing drug price controls, says Cleveland Research
Cleveland Research believes that CVS (CVS) and Express scripts are implementing rebates and price controls on drug. The firm expects the companies to increase their focus on controlling durg prices next year, and adds that they have already itnroduced prior authorization criteria for hepatitis drug. Publicly traded drug companies include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY). Makers of hepatits c drugs include AbbVie (ABBV) and Gilead (GILD),
11:46 EDTMRKMerck management to meet with SunTrust
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November 12, 2014
11:17 EDTMRKLeerink major pharma & biotech analysts hold analyst/industry conference call
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08:13 EDTMRKBoston Biotech to hold a conference
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05:54 EDTACHNStocks with implied volatility movement; ACHN FXY
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November 11, 2014
16:01 EDTMRKOptions Update; November 11, 2014
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15:43 EDTMRKLeerink major pharma & biotech analysts hold analyst/industry conference call
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09:37 EDTMRKActive equity options trading
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08:10 EDTMRKMerck reports results from Phase 2 study of Grazoprevir/Elbasvir
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05:56 EDTACHNStocks with implied volatility above IV index mean; GME ACHN
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November 10, 2014
16:44 EDTACHNOn The Fly: Closing Wrap
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12:24 EDTACHNOn The Fly: Midday Wrap
Stocks on Wall Street were modestly higher at midday. The averages opened mixed, but very close to the flat line, and have continued to drift slowly higher from that point. There is little to stand in the way of the marketís drift, as the economic calendar is quiet, the earnings season is winding down, and the most closely watched geopolitical situations are currently status quo. ECONOMIC EVENTS: In the U.S., little of note was on the economic calendar. The Federal Reserve's newly introduced Labor Market Conditions Index was flat at 4 in October. The Fed started updating estimates of the LMCI every month beginning with last month. COMPANY NEWS: Shares of Netflix (NFLX) advanced about 1% after xxx President Barack Obama publicly urged the Federal Communications Commission to implement the "strongest possible rules" to protect net neutrality. In response, Verizon (VZ) said it supports the open Internet and continues to believe that the "light-touch regulatory approach in place for the past two decades has been central to the Internetís success," adding that it believes the reclassification Obama called for would "apply 1930s-era utility regulation to the Internet" and be a "radical reversal of course" that would threaten great harm to an open Internet, competition and innovation." A number of Internet Service Providers, including Comcast (CMCSA), Time Warner Cable (TWC), Charter (CHTR) and Cablevision (CVC), moved lower after Obama weighed in on the hot-button issue. MAJOR MOVERS: Among the notable gainers was Achillion Pharmaceuticals (ACHN), which rose 22% after the company presented data from the ongoing Phase 2 study of its Hepatitis C virus treatment at the Annual Meeting of the American Association for the Study of Liver Diseases, or AASLD. Also higher was Dean Foods (DF), which rose more than 13% after the dairy products distributorís third quarter results, as well as its fourth quarter and full year profit outlook, surpassed analystsí consensus estimates. Among the noteworthy losers was Rayonier (RYN), which dropped 13% after management determined that there was a material weakness in the company's internal controls, restated certain previously made financial statements, and cut its dividend reflecting expectations of reduced cash available for distribution due to lower expected annual harvest levels. INDEXES: Near midday, the Dow was up 18.55, or 0.11%, to 17,592.48, the Nasdaq was up 10.77, or 0.23%, to 4,643.30, and the S&P 500 was up 4.01, or 0.2%, to 2,035.93.
10:17 EDTACHNOptions with decreasing implied volatility
Options with decreasing implied volatility: RMTI ACHN RPRX ARCP SALE ZU KING UBNT KATE AWAY
09:35 EDTACHNActive equity options trading
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09:20 EDTACHN, MRKOn The Fly: Pre-market Movers
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08:48 EDTMRKGilead rises after Merck presents data on HCV combo
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07:20 EDTMRKGilead overhang from Merck HCV combo removed, says Wells Fargo
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