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Stock Market & Financial Investment News

News Breaks
June 10, 2014
12:22 EDTAGN, VRX, ACHN, SGMS, RSH, MRK, IDIX, IGT, FRANOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday, threatening to break their recent winning streak. The market has steadily moved higher over the past week and has seen the Dow and S&P move to all-time highs, albeit on very light volume. ECONOMIC EVENTS: In the U.S., wholesale inventories rose 1.1% in April, with sales up 1.3%, which were both better than forecast. The JOLTS report showed job openings climbed 289K to 4.46M in April. In China, official data showed an index of consumer prices rose 2.5% year-on-year in May, while China's producer price index contracted 1.4% during the month. COMPANY NEWS: Allergan (AGN) once again rejected the takeover proposal being made by Valeant (VRX) in partnership with hedge fund Pershing Square, saying that their upwardly revised bid still "substantially undervalues the company, creates significant risks and uncertainties for the stockholders of Allergan, and is not in the best interests of the company and its stockholders." Allergan said in a letter to Valeant that it publicly disclosed that the Allergan board has "serious concerns" about the large stock component of the proposal and that the latest Valeant proposal does not warrant discussions between the companies. Following the latest twist in this ongoing story, shares of Allergan were fractionally lower, while Valeant was down a bit over 1%. MAJOR MOVERS: Among the notable gainers was Achillion (ACHN), which rose another 54% near noon after having gained 47% yesterday. This morning JMP Securities upgraded Achillion following Merck's (MRK) acquisition of Idenix (IDIX) yesterday, while Piper Jaffray became the latest Street research firm to say it believes Achillion is positioned as an acquisition target. Also, Achillion announced that the FDA has removed the clinical hold on sovaprevir, an NS3/4A protease inhibitor, to permit the conduct of trials in patients with HCV. Also higher for a second straight session was Scientific Games (SGMS), which rose nearly 13% after the company announced the appointment of a new President and CEO. The company's shares had risen yesterday after Reuters said another company in the same space, International Game Technology (IGT), was exploring a sale and has attracted interest from rival gaming companies and private equity firms. Among the noteworthy losers was apparel, jewelry, and accessories retailer Francesca’s (FRAN), which sunk more than 13% after the company's first quarter quarter results fell short of analysts' consensus estimates and it cut its fiscal 2014 outlook. Also lower following its own earnings report was RadioShack (RSH), which declined over 9% after reporting a Q1 loss that exceeded analyst's expectations and warning that it may need to borrow additional funds or raise capital if the current trend in its operating results continues or further declines. INDEXES: Near midday, the Dow was down 14.18, or 0.08%, to 16,928.92, the Nasdaq was down 6.62, or 0.15%, to 4,329.62, and the S&P 500 was down 3.39, or 0.17%, to 1,947.88.
News For AGN;VRX;ACHN;SGMS;RSH;MRK;IDIX;IGT;FRAN From The Last 14 Days
Check below for free stories on AGN;VRX;ACHN;SGMS;RSH;MRK;IDIX;IGT;FRAN the last two weeks.
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September 9, 2014
09:55 EDTRSHRadioShack price target cut to $0, bankruptcy likely, says Wedbush
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09:12 EDTFRANOn The Fly: Pre-market Movers
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07:37 EDTFRANFrancesca's sees FY14 EPS 88c-98c, consensus $1.05
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07:35 EDTFRANFrancesca's sees Q3 EPS 17c-22c, consensus 25c
Sees Q3 revenue $87M-$92M, consensus $92.59M. Sees mid-to low-single digit decrease in SSS.
07:33 EDTFRANFrancesca's reports Q2 EPS 24c, consensus 26c
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06:42 EDTVRX, AGNLew expects to make decision on combating inversion deals soon, NY Times reports
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06:03 EDTACHNStocks with implied volatility above IV index mean; DISH ACHN
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September 8, 2014
17:16 EDTSGMSScientific Games wins three-year instant games contract extension with Colorado
Scientific Games announced that it has signed an extension of its contract with the Colorado Lottery to continue as a provider of instant lottery games and related services. Under the agreement with the Colorado Lottery, Scientific Games will continue as the Lottery's primary instant game provider for three additional years beginning July 1.
17:01 EDTVRXValeant to expand Bausch + Lomb facility, will add 120 new jobs
Valeant Pharmaceuticals announced that the company hosted a ribbon cutting ceremony for the new Bausch + Lomb ULTRA contact lens manufacturing lines and solar array assembly at the company's Optics Center in Rochester, NY. The ceremony recognized the expansion and installation of the new manufacturing lines, which will produce the company's silicone hydrogel contact lens, Bausch + Lomb ULTRA. The solar array, which is currently under construction, will generate and supply electricity through the installation of 3,667 solar panels, helping to reduce the Rochester facility's carbon footprint by 800 tons of carbon dioxide emissions annually.
16:00 EDTMRKOptions Update; September 8, 2014
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15:27 EDTFRANNotable companies reporting before tomorrow's open
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14:23 EDTFRANFrancesca's technical commentary before earnings
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12:18 EDTSGMSOn The Fly: Midday Wrap
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07:21 EDTAGNJazz looks more attractive for Allergan than Salix, says Wells Fargo
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September 5, 2014
16:45 EDTMRKMarket ends week little changed after mixed economic data
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14:44 EDTACHNAchillion November volatility elevated into expected release of viral data
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11:17 EDTMRKBristol-Myers files patent infringement suit against Merck
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10:05 EDTVRX, AGNOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Actavis (ACT) initiated with a Buy at ISI Group... Akamai (AKAM) initiated with a Buy at UBS... Alexion (ALXN) initiated with a Buy at SunTrust... Allegion (ALLE) initiated with a Buy at Buckingham... Allergan (AGN) initiated with a Buy at ISI Group... Aviat Networks (AVNW) initiated with a Neutral at H.C. Wainwright... Celgene (CELG) initiated with a Buy at SunTrust... EZCORP (EZPW) initiated with a Hold at Jefferies... Eaton (ETN) initiated with a Neutral at Buckingham... Emerson (EMR) initiated with a Neutral at Buckingham... HMS Holdings (HMSY) initiated with an Overweight at Stephens... Incyte (INCY) initiated with a Buy at SunTrust... Ingersoll-Rand (IR) initiated with a Neutral at Buckingham... Insmed (INSM) initiated with an Outperform at Cowen... Intercept (ICPT) initiated with an Outperform at Cowen... Johnson & Johnson (JNJ) initiated with an Outperform at BMO Capital... Lennox (LII) initiated with a Neutral at Buckingham... Mylan (MYL) initiated with a Hold at ISI Group... Orion Engineered Carbons (OEC) initiated with a Buy at Goldman... Parker-Hannifin (PH) initiated with a Buy at Buckingham... Pentair (PNR) initiated with a Neutral at Buckingham... Pharmacyclics (PCYC) initiated with a Neutral at SunTrust... Rockwell Automation (ROK) initiated with a Neutral at Buckingham... Sabre (SABR) initiated with an Outperform at Oppenheimer... Santander Consumer (SC) initiated with a Buy at Jefferies... Springleaf (LEAF) initiated with a Buy at Jefferies... Susser Petroleum (SUSP) initiated with a Neutral at Credit Suisse... Teva (TEVA) initiated with a Buy at ISI Group... Valeant (VRX) initiated with a Buy at ISI Group... WESCO (WCC) initiated with a Neutral at Buckingham... Watsco (WSO) initiated with a Neutral at Buckingham... Weyerhaeuser (WY) initiated with a Neutral at JPMorgan... World Acceptance (WRLD) initiated with a Hold at Jefferies.
08:39 EDTMRKMerck Keytruda sales to reach $5B in 2018, says BMO Capital
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05:59 EDTACHNStocks with implied volatility above IV index mean; ACHN MCD
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