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Stock Market & Financial Investment News

News Breaks
March 11, 2014
10:00 EDTPRA, CTSH, USB, NXTM, FMC, AMED, RAIL, VIPS, TGI, NTRS, BEP, AIXG, XOMA, BLDP, UIS, STT, MIICF, ARTXOn The Fly: Analyst Downgrade Summary
Aixtron (AIXG) downgraded to Neutral from Outperform at Exane BNP Paribas... Amedisys (AMED) downgraded to Perform from Outperform at Oppenheimer... Arotech (ARTX) downgraded to Neutral from Buy at B. Riley... Brookfield Renewable (BEP) downgraded to Hold from Buy at Canaccord... FMC Corporation (FMC) downgraded to Neutral from Overweight at Piper Jaffray... Millicom (MIICF) downgraded to Underweight from Equal Weight at Morgan Stanley... Northern Trust (NTRS) downgraded to Sell from Neutral at UBS... NxStage Medical (NXTM) downgraded to Underperform from Market Perform at Wells Fargo... State Street (STT) downgraded to Neutral from Buy at UBS... Triumph Group (TGI) downgraded to Sector Perform from Outperform at RBC Capital... U.S. Bancorp (USB) downgraded to Market Perform from Outperform at Keefe Bruyette... Unisys (UIS) downgraded to Market Perform from Outperform at Raymond James... Vipshop (VIPS) downgraded to Neutral from Buy at Goldman... Cognizant (CTSH) downgraded to Hold from Buy at Berenberg... Ballard Power (BLDP) downgraded to Hold from Buy at Lake Street... FreightCar America (RAIL) downgraded to Equal Weight from Overweight at Stephens... Panera Bread (PNRA) downgraded to Neutral from Buy at Longbow... XOMA (XOMA) downgraded to Hold from Buy at MLV & Co.
News For AIXG;AMED;ARTX;BEP;FMC;MIICF;NTRS;NXTM;STT;TGI;USB;UIS;VIPS;CTSH;BLDP;RAIL;PRA;XOMA From The Last 14 Days
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July 22, 2015
14:10 EDTXOMAXOMA downgraded to Neutral from Buy at Ladenburg
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13:36 EDTXOMAXOMA downgraded to Sector Perform from Outperform at RBC Capital
RBC Capital downgraded XOMA to Sector Perform from Outperform and lowered its price target on the stock to $2 from $8 after a trial of its gevokizumab drug in patients with Behcet's disease uveitis did not meet its primary endpoint.
12:57 EDTXOMAXOMA downgraded to Market Perform from Outperform at Cowen
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12:32 EDTXOMAOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday as slides in a number of big name tech stocks following their earnings reports dominated the news flow and largely dictated the market's direction. ECONOMIC EVENTS: In the U.S., the FHFA home price index rose 0.4% to 222.8 in May, as expected. Existing home sales rose 3.2% to a 5.49M rate in June, better than the 0.9% increase that was expected. In Europe, the European Central Bank reportedly raised the cap on Greece's Emergency Liquidity Assistance by EUR900M to EUR90.4B, according to Bloomberg. COMPANY NEWS: The tech sector has been weak, headlined of course by a 5% pullback in shares of Apple (AAPL) after iPhone shipments in the just completed quarter and the company's sales forecast for the new quarter missed estimates. Adding to the negative tone in tech stocks, and contributing further to the decline in the Nasdaq, was the 3% drop seen in Microsoft (MSFT) shares after its quarterly report as well as Yahoo's (YHOO) 1% decline after its revenue outlook missed the consensus forecast... Shares of Boeing (BA) and Coca-Cola (KO) fared better than Dow peer Apple after each reported better than expected sales and profits, though neither stock was moving far from where they closed yesterday's trading. MAJOR MOVERS: Among the notable gainers was Thoratec (THOR), which rose 10% after the company agreed to be acquired by St. Jude Medical (STJ) for $3.4 billion in cash, or $63.50 per share. St. Jude shares advanced fractionally after the deal, which had been foreshadowed by media reports yesterday, was announced. Also higher following their earnings reports were Intuitive Surgical (ISRG), which gained 10%, Chipotle Mexican Grill (CMG), which advanced 8% and Whirlpool (WHR), which was up 6%. Among the noteworthy losers were a number of suppliers to Apple that declined in tandem with the tech giant after it reported a sequential drop in iPhone sales. Skyworks Solutions (SWKS), Cirrus Logic (CRUS), Qorvo (QRVO) and NXP Semiconductors (NXPI) were among the many semiconductor stocks that slid following Apple's report. Also sharply lower was antibody-based therapeutics maker XOMA (XOMA), which plunged more than 73% and was downgraded to Neutral at Piper Jaffray after a Phase III trial of its gevokizumab drug in patients with Behcet's disease uveitis did not meet its primary endpoint. INDEXES: Near midday, the Dow was down 82.22, or 0.46%, to 17,837.07, the Nasdaq was down 42.68, or 0.82%, to 5,165.44, and the S&P 500 was down 6.93, or 0.33%, to 2,112.28.
11:03 EDTXOMAXOMA downgraded to Neutral from Overweight at Piper Jaffray
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09:07 EDTXOMAOn The Fly: Pre-market Movers
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08:31 EDTXOMAXOMA resumes, drops 63% after gevokizumab study misses primary endpoint
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08:08 EDTXOMAXOMA to resume trading at 8:30 am EDT after trial misses endpoint
Shares of antibody-based therapeutics maker XOMA were halted for trading before the company announced that a Phase 3 study of gevokizumab in patients with Behçet's disease uveitis did not meet the primary endpoint of time to first acute ocular exacerbation. The stock is scheduled to resume quotation at 8:25 am EDT and resume trading at 8:30 am EDT, according to Nasdaq.
08:02 EDTXOMAXOMA Phase 3 EYEGUARD-B study of gevokizumab did not meet primary endpoint
XOMA announced the Phase 3 EYEGUARD-B study of gevokizumab in patients with Behçet's disease uveitis, run by its partner Servier, an independent French pharmaceutical research company driven by the pursuit of innovative drugs, did not meet the primary endpoint of time to first acute ocular exacerbation. "Although the study did not achieve its main objective, we did see signals of drug activity such as preserved visual acuity, less severe ocular exacerbations and a reduced incidence of reported macular edema in patients treated with gevokizumab," said Paul Rubin MD, Senior Vice President Research and Development and Chief Medical Officer. "We will continue to work closely with our partner, Servier, and uveitis experts to conduct a thorough analysis of the data to fully understand gevokizumab's impact on several clinically relevant endpoints." Gevokizumab appeared to be well tolerated in the trial. Adverse events were comparable between gevokizumab and placebo treated groups.
08:02 EDTXOMAXOMA Phase 3 EYEGUARD-B study of gevokizumab did not meet primary endpoint
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07:59 EDTXOMAXOMA trading halted, pending news
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07:36 EDTNTRSNorthern Trust reports Q2 EPS ex-items $1.01, consensus 96c
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07:34 EDTBLDPBallard Power to provide 1MW clean power generation system in Bordeaux, France
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06:36 EDTXOMAXOMA volatility elevated into expected release of Phase III data
XOMA August call option implied volatility is at 287, September is at 228, December is at 167; compared to its 52-week range of 71 to 299, suggesting large price movement into expected release Phase III data for gevokizumab in Behçet’s disease uveitis.
05:27 EDTXOMAStocks with implied volatility above IV index mean; XOMA AMZN
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July 21, 2015
15:02 EDTNTRSNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Coca-Cola (KO), consensus 60c... Boeing (BA), consensus $1.42... Abbott Laboratories (ABT), consensus 50c... Thermo Fisher Scientific (TMO), consensus $1.78... EMC (EMC), consensus 41c... Illinois Tool Works (ITW), consensus $1.28... St. Jude Medical (STJ), consensus $1.00... Northern Trust (NTRS), consensus 96c... Check Point Software (CHKP), consensus 95c... Polaris Industries (PII), consensus $1.58... Interpublic Group (IPG), consensus 27c... New York Community Bancorp (NYCB), consensus 26c... B/E Aerospace (BEAV), consensus 76c... Owens Corning (OC), consensus 54c... Knight Transportation (KNX), consensus 37c.
09:34 EDTVIPSVipshop Q2 revenues tracking below consensus, says ITG Research
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July 20, 2015
13:03 EDTSTTFed proposes final rule on capital surcharges for largest U.S. banks
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08:12 EDTXOMAXOMA volatility elevated into expected release of Phase III data
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06:06 EDTXOMAStocks with implied volatility above IV index mean; XOMA TWTR
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