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Stock Market & Financial Investment News

News Breaks
March 19, 2014
08:08 EDTAGIO, CELGAgios Pharmaceuticals enrolls first patient in Phase 1 AG-120 study
Agios Pharmaceuticals (AGIO) announced that the first patient has been dosed in a Phase 1 study of AG-120 in patients with advanced hematologic malignancies with an isocitrate dehydrogenase-1 mutation. AG-120 is an orally available, selective, potent inhibitor of the mutated IDH1 protein, making it the first targeted therapeutic candidate to treat patients with cancers that harbor the IDH1 mutation. AG-120 is a part of Agiosí global strategic collaboration with Celgene (CELG). The Phase 1, multicenter, open-label, dose-escalation clinical trial of AG-120 is designed to assess the safety and tolerability of AG-120 as a single agent. The study is expected to only enroll subjects with an IDH1-mutant hematologic malignancy, including acute myelogenous leukemia and myelodysplastic syndrome. Key objectives in the study include determining maximum tolerated dose, pharmacokinetics, pharmacodynamics and preliminary anti-tumor activity. Disease-specific expansion cohorts will be enrolled at the maximally tolerated or biologically relevant dose.
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July 25, 2014
07:06 EDTCELGCelgene shares should recover, says Cantor
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July 24, 2014
12:20 EDTCELGCelgene price target raised to $115 from $85 at Piper Jaffray
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07:45 EDTCELGCelgene reports Q2 VIDAZA sales decreased 28%
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07:43 EDTCELGCelgene reports Q2 ABRAXANE sales increased 39%
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07:42 EDTCELGCelgene reports Q2 REVLIMID sales increased 15%
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07:34 EDTCELGCelgene raises FY14 adjusted EPS view to $3.60-$3.65 from $3.50-$3.60
Consensus is $3.67. Raises FY14 revenue view to $7.6B from $7.5B, consensus $7.54B. Sees Revlimid net product sales $4.95B from preview $4.9B-$5B range. Sees Abraxane net product sales $850M-$900M.
07:32 EDTCELGCelgene reports Q2 adjusted EPS 90c, consensus 89c
Reports Q2 revenue $1.87B, consensus $1.85B.
July 23, 2014
15:30 EDTCELGNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Ford (F), consensus 36c; General Motors (GM), consensus 58c; Potash (POT), consensus 46c; Caterpillar (CAT), consensus $1.52; 3M (MMM), consensus $1.91; Union Pacific (UNP), consensus $1.43; Bristol-Myers Squibb (BMY), consensus 44c; Eli Lilly (LLY), consensus 65c; Celgene (CELG), consensus 89c; Precision Castparts (PCP), consensus $3.35; Raytheon (RTN), consensus $1.59; Noble Energy (NBL), consensus 79c; Hershey (HSY), consensus 76c; Southwest Airlines (LUV), consensus 61c; Boston Scientific (BSX), consensus 19c; JetBlue (JBLU), consensus 19c.
09:41 EDTCELGActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL NFLX FB MSFT CELG TWTR TSLA VALE CNW
July 22, 2014
07:12 EDTCELGCelgene has upper hand in Revlimid case, says Bernstein
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July 15, 2014
10:56 EDTCELGFed calls small cap social media, biotech valuations 'stretched'
The Board of Governors of the Federal Reserve in its Monetary Policy Report dated today said valuation metrics in "some sectors" appear substantially stretched, "particularly those for smaller firms in the social media and biotechnology industries, despite a notable downturn in equity prices for such firms early in the year." A later part in the document reads, "Equity valuations of smaller firms as well as social media and biotechnology firms appear to be stretched, with ratios of prices to forward earnings remaining high relative to historical norms." The specific targeting of sectors by the Fed seems to be having an impact on stocks in the social media and biotech spaces. Shares of Yelp (YELP) are down over 5% to $67.51, while Twitter (TWTR) and Facebook (FB) are each down 2%. Celgene (CELG) and Amgen (AMGN) are leading the biotech space lower with pullbacks of greater than 1%.
10:33 EDTCELGFacebook, Twitter slip following cautious valuation comments from Fed
Shares of a number of companies in the social media and biotech industries moved lower following the circulation of cautious comments about their stock valuations that were included in the Federal Reserve's latest Monetary Policy Report. WHAT'S NEW: In the report, presented by the Board of Governors of the Federal Reserve and signed on behalf of the governors by Chair Janet Yellen, the central bank wrote that some broad equity price indexes have increased to all-time highs in nominal terms since the end of 2013, but that valuation measures for the overall market in early July were "generally at levels not far above their historical averages." However, the Fed's report also cautioned that valuation metrics in some sectors do appear substantially "stretched," particularly those for smaller firms in the social media and biotechnology industries, despite a notable downturn in equity prices for such firms early in the year. As support for its assessment, the Fed noted that ratios of prices to forward earnings for "smaller firms as well as social media and biotechnology firms" remain "high relative to historical norms." PRICE ACTION: Following the circulation of the comments in the Fed report, shares of Facebook (FB) are down 88c, or 1.3%, to $67.02, Twitter (TWTR) is down 24c, or 0.6%, to $38.07 and LinkedIn (LNKD), is down 21c, or 0.1%, to $159.57. Shares of some biotechnology companies including Celgene (CELG) and Amgen (AMGN) also ticked lower following the circulation of the comments from the Fed's report.

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