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Stock Market & Financial Investment News

News Breaks
March 27, 2014
10:00 EDTUSPH, RNDY, PCYC, GILD, BIIB, ACPW, KING, RNG, IRT, CIG, ASBC, COMM, TCB, REGN, ICLR, CELG, AMGNOn 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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July 22, 2015
06:50 EDTBIIBBiogen's Alzheimer's candidate shows reduction of clinical decline
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July 21, 2015
14:12 EDTGILDGilead reports study of E/C/F/TAF met primary endpoint
Gilead Sciences announced detailed 48-week data from an open-label Phase 3 study evaluating its investigational once-daily single tablet regimen of elvitegravir 150 mg, cobicistat 150 mg, emtricitabine 200 mg and tenofovir alafenamide 10 mg, or E/C/F/TAF, among 1,436 virologically suppressed adult patients switching from tenofovir disoproxil fumarate-containing regimens. The study met its primary endpoint by demonstrating non-inferiority of E/C/F/TAF to the TDF-based regimens at Week 48. The study also demonstrated statistical superiority among patients with HIV-1 RNA levels less than 50 copies/mL at Week 48 and statistically significant improvements in bone and renal laboratory parameters. These data were presented in an oral session at the 8th IAS Conference on HIV Pathogenesis, Treatment & Prevention in Vancouver, Canada. Among the 1,436 patients who were randomized in the study, virologic success rates at Week 48 were higher in patients taking E/C/F/TAF, 97% versus 93% for all TDF-based regimens; difference in percentages: 4.1%, 95% CI: 1.6% to 6.7%. The rates of virologic failure were similar between the two arms, with E/C/F/TAF, 1.0% and TDF-based regimen, 1.3%. General safety was similar between the two arms through 48 weeks of treatment, with similar percentages of patients in each group having any adverse events. Adverse events leading to treatment discontinuation were more common among patients treated with a TDF-based regimen.
12:47 EDTAMGN, REGNPiper confident in Regeneron approval by Friday
After Amgen's (AMGN) Repatha received marketing authorization in Europe, making it the first of the anti-PCSK9 antibody to be approved worldwide, Piper Jaffray analyst Edward Tenthoff expressed confidence that Regeneron (REGN) and Sanofi's (SNY) anti-PCSK9 antibody Praluent will be approved by Friday's FDA action date. Tenthoff believes Praluent will eventually be a blockbuster drug, but anticipates the launch to be slow. He keeps a Neutral rating on Regeneron with a $484 price target.
11:49 EDTAMGNNovartis may sell Amgen's cancer drug as soon as September, Bloomberg says
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11:03 EDTCELGCelgene treatment of pediatric Crohn's disease receives FDA orphan designation
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07:12 EDTAMGNAmgen's Repatha granted marketing authorization by EC
Amgen announced that the European Commission, or EC, has granted marketing authorization for Repatha, or evolocumab, the first proprotein convertase subtilisin/kexin type 9, or PCSK9, inhibitor to be approved in the world, for the treatment of patients with uncontrolled cholesterol who require additional intensive low-density lipoprotein cholesterol reduction. Repatha is a human monoclonal antibody that inhibits PCSK9, a protein that reduces the liver's ability to remove LDL-C, or "bad" cholesterol, from the blood.
06:29 EDTCELGCelgene price target raised to $160 from $147 at Piper Jaffray
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06:24 EDTBIIB, CELGPiper expects 'stronger, bolder' move from Biogen
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06:12 EDTBIIBBiogen implied volatility of 50 at upper end of index
July 20, 2015
07:33 EDTGILDInternational AIDS Society to hold a conference
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07:32 EDTBIIBAlzheimer's Association to hold a conference
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July 17, 2015
17:43 EDTCELGCelgene to finance Receptos buy with cash on hand and $5B senior notes
In connection with the recently disclosed acquisition of Receptos (RCPT) for approximately $7.2B, net of cash acquired, Celgene (CELG) will finance the acquisition with a combination of cash on hand and approximately $5B of senior notes pursuant to a public offering. The Company also expects to offer up to an additional $3B of senior notes for general corporate purposes consistent with the Company’s normal financing activity before year-end. The aggregate amounts of these anticipated debt financings were taken into consideration in our previously disclosed 2015 guidance and investment grade profile, each of which remains unchanged.
16:41 EDTCELGStocks end week higher as Google, Greece bring out the buyers
Stocks ended the week higher and the major averages are back at record highs after Iran agreed to a nuclear deal, Greece's parliament paved the way for the country to receive another bailout by agreeing to new austerity measures and Google (GOOG) gave investors hope that earnings from tech's other heavyweights will be similarly better than expected. MACRO NEWS: In the U.S., retail sales unexpectedly fell 0.3% in June, versus the consensus forecast for growth of 0.3%. The producer prices index showed prices rose 0.4% in June, versus expectations for an increase of 0.2%. The consumer price index rose a seasonally adjusted 0.3% in June from a month earlier, matching the consensus forecast. Compared with last year, consumer prices rose 0.1%, marking the first annual increase since December. Housing starts rose 9.8% to a 1.17M rate in June and building permits rose 7.4% to a 1.34M pace, both of which topped expectations. The NAHB homebuilder sentiment index for July came in at 60, a point better than forecast. The University of Michigan's consumer sentiment reading dropped to 93.3 in the preliminary July figure, which was below the 96.0 reading that was expected. During testimony before Congress, Federal Reserve Chair Janet Yellen stayed on message, stating that the central bank is on track to raise record-low interest rates this year, so long as the labor market and the economy keep improving... In China, exports rose 2.1% from a year earlier during June and imports dropped 6.7%, leaving a trade surplus of $45.8B for the month, the nation's customs administration reported. The nation's GDP was reported to have grown 7% in the second quarter from a year earlier, beating the consensus expectation for growth of 6.8%... In Europe, Greek lawmakers passed the country's austerity agreement and Euro-area finance ministers reportedly agreed in principle to extend a bridge loan to Greece. The loan should help keep Greece afloat while its Prime Minister negotiates the details of the country's latest bailout... Iran reached a deal on restrictions and inspections intended to prevent it from developing nuclear weapons in exchange for the lifting of economic sanctions by six world powers. The agreement still faces a political fight in the U.S. before taking effect, but President Barack Obama has vowed to veto any congressional effort to block its implementation. COMPANY NEWS: Class A shares of Google (GOOG, GOOGL) surged at the end of the week after the search giant reported better than expected revenues and earnings in the second quarter. Research firms all over Wall Street raised their price targets on the stock in the wake of the report... Netflix (NFLX) rallied to a split-adjusted all-time high after the streaming service operator reported stronger than expected second quarter results, including higher than expected Q2 subscriber metrics, prompting a large number of research firms to raise their price targets on the stock... Many of the nation's largest banks reported on their results in the second quarter this week. JPMorgan (JPM), Bank of America (BAC) and Citigroup (C) all posted quarterly profits, excluding certain items, that beat the average estimates of analysts. Wells Fargo (WFC) reported earnings in-line with consensus estimates and revenue somewhat below expectations, while Goldman Sachs (GS) reported headline earnings that appeared to fall far short of the consensus forecast. However, that was due to Goldman's nearly $1.5B in provisions for litigation and regulatory matters. Excluding those provisions, the bank's earnings were ahead of consensus... On the M&A front, Receptos (RCPT) advanced after Celgene (CELG) announced a deal to buy the smaller drugmaker for $232 per share in cash, or a total of about $7.2B net of cash acquired. A number of research firms applauded the deal, especially noting the price Celgene agreed to pay, but cautioned that a rival bidder may still emerge for Receptos. Marathon Petroleum (MPC) gained after MPLX (MPLX), the company's fee-based master limited partnership, agreed to acquire MarkWest Energy (MWE) in a cash and stock deal that implies a total enterprise value for MarkWest of approximately $20B, including the assumption of debt of approximately $4.2B. Micron (MU) rose after The Wall Street Journal reported that China's state-owned Tsinghua Unigroup had offered to acquire the memory chip maker for $23B, or $21 per share... Shares of Twitter (TWTR) spiked Tuesday morning after a questionable takeover report was published on a website that mimicked, but had a different web address, than Bloomberg News. A Bloomberg spokesman said soon afterward that the Twitter takeover story being attributed to the news service was a fake, while a Twitter spokesperson also denied the report of an alleged deal... Macy's (M) jumped after Starboard CEO Jeffrey Smith called the stock his "best idea" for 2015, adding that the shares could be worth $125 each if the company takes steps to maximize the value of its real estate holdings. Amazon (AMZN) announced it sold more units on its first "Prime Day" than the biggest Black Friday ever and had more new members try its Prime service worldwide than any single day in company history. The e-commerce giant noted that its worldwide order growth increased 266% over the same day last year and 18% more than Black Friday 2014, adding that it will "definitely be" doing another Prime Day in the future. A number of semiconductor equipment stocks, including Applied Materials (AMAT) and Lam Research (LRCX), dropped after Intel (INTC) cut its capital expenditures guidance while reporting on its quarterly results. INDEXES: For the week, the Dow gained about 1.05% to close at 18,086.45, the Nasdaq advanced about 3.37% to close at 5,210.14, and the S&P 500 rose about 1.67% to close at 2,126.64.
13:29 EDTCOMMWireless infrastructure shares up after Ericsson,TESSCO report
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10:21 EDTGILDCigna says 98.4% of customers treated with hep C drug Harvoni are cured
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09:03 EDTGILDGilead granted orphan status for gastric cancer treatment
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July 16, 2015
16:05 EDTAMGNAmgen announces Phase 2 trial results evaluating Blincyto
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10:18 EDTKINGOptions with increasing implied volatility
Options with increasing implied volatility: SRPT ENR FOSL KING
09:22 EDTGILDBristol-Myers says EU approves Evotaz for treatment of HIV-1 infection in adults
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07:19 EDTCELGCelgene management to meet with Deutsche Bank
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