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Stock Market & Financial Investment News

News Breaks
March 27, 2014
10:00 EDTACPW, USPH, KING, TCB, RNDY, RNG, REGN, PCYC, IRT, ICLR, GILD, CIG, CELG, BIIB, ASBC, AMGN, COMMOn The Fly: Analyst Initiation Summary
Active Power (ACPW) initiated with a Buy at Roth Capital... Amgen (AMGN) initiated with an Overweight at Morgan Stanley... Associated Banc-Corp (ASBC) initiated with a Neutral at DA Davidson... Biogen (BIIB) initiated with an Overweight at Morgan Stanley... Celgene (CELG) initiated with an Equal Weight at Morgan Stanley... Cemig (CIG) initiated with a Buy at Goldman... Gilead (GILD) initiated with an Equal Weight at Morgan Stanley... ICON plc (ICLR) initiated with an Outperform at Credit Suisse... Independence Realty Trust (IRT) initiated with a Buy at Deutsche Bank... Pharmacyclics (PCYC) initiated with an Equal Weight at Morgan Stanley... Regeneron (REGN) initiated with an Equal Weight at Morgan Stanley... RingCentral (RNG) initiated with an Outperform at Macquarie... Roundy's (RNDY) initiated with a Buy at BofA/Merrill... TCF Financial (TCB) initiated with a Neutral at DA Davidson... King Digital (KING) initiated with a Neutral at Sterne Ageel... U.S. Physical Therapy (USPH) initiated with an Overweight at Stephensl... CommScope (COMM) initiated with a Buy at Longbow.
News For ACPW;AMGN;ASBC;BIIB;CELG;CIG;GILD;ICLR;IRT;PCYC;REGN;RNG;RNDY;TCB;KING;USPH;COMM From The Last 14 Days
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September 11, 2014
07:31 EDTBIIBBiogen announces new data from Plegridy Phase 3 ADVANCE trial
Biogen Idec announced new data from the second year of its Phase 3 ADVANCE clinical trial that show the positive treatment effects of PLEGRIDY were maintained in people with relapsing forms of multiple sclerosis beyond the first year of the study. These results were presented at the sixth Triennial Joint Meeting of the Americas Committee for Treatment and Research in Multiple Sclerosis and the European Committee for Treatment and Research in Multiple Sclerosis in Boston. Post-hoc analyses from the two-year, Phase 3 ADVANCE clinical trial confirm that PLEGRIDY’s positive effects on reducing disease activity and disability progression were maintained in year two of the study. A significantly higher proportion of patients taking PLEGRIDY during both years of the study experienced no evidence of disease activity – defined as the absence of clinical and MRI disease activity over two years of treatment – compared to those who switched to PLEGRIDY from placebo. Also, those treated with PLEGRIDY for both years of the study had significant reductions in the risk of 24-week confirmed disability progression compared to patients treated with placebo during the first year. In addition, new data from the second year of ADVANCE show that patients who took PLEGRIDY throughout the study experienced statistically significant improvements in clinical and MRI outcomes – including annualized relapse rate, risk of relapse, risk of 24-week confirmed disability progression, and number of brain lesions – when compared to those who switched to PLEGRIDY after taking placebo for the first year. This new data also showed that the safety profile of PLEGRIDY was consistent between years one and two of the study.
07:29 EDTCOMMDeutsche Bank to hold a conference
Technology Conference to be held in Las Vegas on September 9-11 with webcasted company presentations to begin on September 11 at 10:30 am; not all company presentations may be webcasted. Webcast Link
September 10, 2014
14:29 EDTPCYCPharmacyclics Veterans Affairs contract worth up to $17 per share, says Goldman
Today, the U.S. Department of Veterans Affairs awarded Pharmacyclics a contract worth up to $3.8B over the next five years to supply its cancer drug, Imbruvica. Goldman said the contract could be worth up to $17 per share if fully realized and views it as an unexpected windfall for the company.
14:07 EDTPCYCPharmacyclics ibrutinib designated as orphan treatment of follicular lymphoma
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13:11 EDTPCYCPharmacyclics climbs after leukemia drug wins VA contract
Shares of drug maker Pharmacyclics (PCYC) are rallying after a federal government website revealed that the company had won a contract that could be worth up to $3.8B. However, RBC Capital is warning that the deal is not as lucrative as it sounds and will not lead analysts to significantly raise their estimates for the company. WHAT'S NEW: A contract for Phamacyclics' Imbruvica drug, a treatment for chronic lymphocytic leukemia, was disclosed earlier today. The contract from Veterans Affairs, which has an award date of September 4, was revealed in a notice posted today to Federal Business Opportunities website and has a potential value of $3.809B, according to the posting. ANALYST REACTION: In a note to investors today, RBC Capital analyst Michael Yee wrote that the news is positive, but not to the extent that the size of the deal would suggest. Pharmacyclics is indicating that the size of the deal has been significantly misrepresented, Yee reported. Additionally, the order may not be a major surprise to analysts, since it is expected that the government will place orders for oncology drugs, he stated. Although Pharmacyclics is on pace to beat third quarter expectations, the order revealed today is unlikely to lead analysts to significantly raise their estimates, Yee stated. He kept a Sector Perform rating on the shares. PRICE ACTION: In early afternoon trading, Pharmacyclics advanced 5.5% to $125.
12:24 EDTPCYCPharmacyclics VA contract not likely to change estimates, says RBC Capital
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10:58 EDTPCYCPharmacyclics rises after VA contract award revealed
Shares of drugmaker Pharmacyclics are rising after a contract for its Imbruvica drug that was previously awarded by the Department of Veterans Affairs was disclosed. The contract, which has an award date of September 4, was revealed in an award notice posted today today to Federal Business Opportunities website and has a potential value of $3.809B, according to the posting. Pharmacyclics shares are up 6.5% to $126.35 in morning trading following the circulation of the FBO site posting.
10:51 EDTPCYCPharmacyclics receives contract up to $3B from Department of Veterans Affairs
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07:53 EDTCOMMDeutsche Bank to hold a conference
Technology Conference to be held in Las Vegas on September 9-11 with webcasted company presentations to begin on September 10 at 10:30; not all company presentations may be webcasted. Webcast Link
September 9, 2014
09:34 EDTGILDGilead recently started cutting Sovaldi pricing by 8%, says Cleveland Research
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07:51 EDTCELGNICE says Abraxane price not justified by limited benefit in pancreatic cancer
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07:29 EDTCOMMUBM Canon to hold a summit
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07:11 EDTCOMMUBM Tech to hold a conference
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September 8, 2014
11:05 EDTGILDOptions with increasing implied volatility
Options with increasing implied volatility: NPSP GILD VNET AVNR GTAT YHOO RHT VRTX SDRL COV MYL
09:40 EDTGILDActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL TWTR TSLA YHOO BAC FB MSFT NFLX GILD MCD
09:27 EDTBIIBLeerink biotech analyst holds a luncheon meeting with a conference call
Biotech Analyst Schwartz provides an update on key trends and controversies for marketed MS therapies and discusses new data presented at ACTRIMS-ECTRIMS at a Luncheon Meeting with an Analyst/Industry conference call to be held in Boston on September 11 at 12:15 pm.
08:48 EDTGILDGilead announces AMBITION study results in collaboration with Glaxo
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07:26 EDTCELGMorgan Stanley to hold a conference
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07:15 EDTBIIB, AMGN, REGNIBC Life Sciences to hold a conference
10th Annual Cell Line Development & Engineering Conference to be held in Berkeley, California on September 8-10.
06:49 EDTAMGNAmgen shares to trend higher, price target to $150 at RBC Capital
RBC expects shares of Amgen to trend higher due to evolving sentiment around the 2015 pipeline and low multiple. Some investors want a break-up of the company to increase shareholder value but the analyst does not expect it to occur given the concentrated portfolio, tax reasons, and a commercial infrastructure that can not be split off. Shares are Outperform rated with a $150 price target, raised from $135.
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