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Stock Market & Financial Investment News

News Breaks
May 30, 2014
16:34 EDTSPLK, NPSP, VRX, RTRX, LGF, AGN, SHPG, BLOXOn The Fly: Closing Wrap
The market began the session in quiet fashion and remained that way throughout the day. There was little for investors to get excited about, as the day’s economic data proved to be a mixed bag. The averages moved in a narrow range on very light volume while the news flow slowed to a trickle. With memorial Day kicking off the summer season and the week shortened by a day, investors appeared content to let the market drift in the last trading day of the week and the month, albeit near record levels. ECONOMIC EVENTS: In the U.S., personal income rose 0.3% in April, matching expectations, while consumer spending fell 0.1%, versus an expected increase of 0.2%. The Chicago ISM index rose 2.5 points to 65.5 in May, which was much better than expected. The final University of Michigan consumer confidence reading for May came in at 81.9, which was up just 0.1 from the prior reading and a hair below the expected 82.5 figure. COMPANY NEWS: Valeant Pharmaceuticals (VRX) raised its offer for Allergan (AGN) for the second time this week. Under the newly revised proposal, each Allergan share would be exchanged for $72.00 in cash and 0.83 shares of Valeant common stock, plus a Contingent Value Right for DARPin of up to $25.00 per share in value. This is up from the $58.30 in cash, plus shares and the CVR, that Valeant offered just two days ago. MAJOR MOVERS: Among the notable gainers was Retrophin (RTRX), which gained $1.74, or 13.51%, to $14.62 after announcing a license agreement with Mission Pharmacal for Thiola and revising its guidance. Also higher was NPS Pharmaceuticals (NPSP), which jumped $3.68, or 13.41%, to $31.13 after FT Alphaville, citing "usually well informed sources," said Shire (SHPG) has held internal discussions about a potential cash takeover offer for its smaller pharmaceutical industry peer. Among the noteworthy losers was Infoblox (BLOX), which plunged $7.56, or 36.84%, to $12.96 after the company's outlook for the new quarter missed expectations, its CEO Robert Thomas said he will step down and the shares were downgraded by at least six Street research firms. Other decliners following their earnings reports were data analysis software provider Splunk (SPLK), which fell $8.18, or 16.35%, to $41.86, and "Hunger Games" producer Lions Gate (LGF), which dropped $3.40, or 11.51%, to $26.13. INDEXES: The Dow was up 18.43, or 0.11%, to 16,717.17, the Nasdaq was down 5.33, or 0.13%, to 4,242.62, and the S&P 500 was up 3.54, or 0.18%, to 1,923.57.
News For AGN;VRX;BLOX;LGF;NPSP;SHPG;RTRX;SPLK From The Last 14 Days
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December 15, 2014
07:58 EDTAGNAllergan downgraded to Hold from Buy at Stifel
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06:12 EDTBLOXInfoblox called a top pick for 2015 at Piper Jaffray
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December 12, 2014
10:01 EDTSPLKOn The Fly: Analyst Initiation Summary
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06:27 EDTLGFPiper lowers Mockingjay forecast to $775M from $925M
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December 11, 2014
16:26 EDTSPLKSplunk initiated with a Neutral at Piper Jaffray
Target $65.
11:02 EDTLGFLionsgate Motion Picture Group promotes Sean Kisker to Chief Strategy Officer
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08:57 EDTSHPGLeerink major pharma & biotech analysts hold analyst/industry conference call
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08:17 EDTLGFHasbro names Lionsgate Vice Chairman Michael Burns to board of directors
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07:22 EDTRTRXRetrophin management to meet with Deutsche Bank
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06:29 EDTSHPGShire CEO sees no immediate need to spend break-up fee, Reuters reports
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December 10, 2014
07:25 EDTRTRXRetrophin management to meet with Deutsche Bank
Meeting to be held in New York on December 10 hosted by Deutsche Bank.
December 9, 2014
12:22 EDTSHPGPiper Jaffray biopharm analyst holds an analyst/industry conference call
Senior Research Analyst Schimmer, along with Biopharmaceuticals Analyst Breazzano, discuss gene therapy for hemophilia on an Analyst/Industry conference call to be held on December 11 at 10 am.
10:23 EDTSHPGOn The Fly: Analyst Downgrade Summary
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09:31 EDTAGN, VRXZoetis drops after report of Valeant abandoning growth by acquisitions strategy
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07:32 EDTLGFUBS to hold a conference
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06:39 EDTVRXValeant to abandon growth by acquisitions strategy, Reuters says
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06:14 EDTAGNAllergan price target raised to $245 from $210 at Citigroup
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05:38 EDTSHPGShire downgraded to Neutral from Buy at BofA/Merrill
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December 8, 2014
07:29 EDTAGNUBS to hold investor trip
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07:18 EDTAGNUBS to hold investor trip
2014 Annual West Coast Investor Trip travels on the West Coast on December 8-10.
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