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Stock Market & Financial Investment News

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May 28, 2014
04:55 EDTALL, ALL, ALL, NOC, NOC, NOC, BAC, BAC, BAC, CMG, CMG, CMG, FCX, FCX, FCX, GD, GD, GD, MCD, MCD, MCD, TRI, TRI, TRI, REGN, REGN, REGN, GS, GS, GS, PX, PX, PXBernstein to hold a conference
Strategic Decisions Conference to be held in New York on May 28-30.
News For ALL;GS;REGN;TRI;MCD;GD;FCX;CMG;BAC;NOC;PX From The Last 14 Days
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March 19, 2015
06:06 EDTGSSunrun powers up for IPO later this year, WSJ reports
Sunrun, a solar-energy company, is said to be working with Credit Suisse (CS) and Goldman Sachs (GS) on a potential IPO for later this year, sources tell The Wall Street Journal, which adds that the company was valued at $1.3B as of March 2014. Other solar companies that have gone public in recent years include residential solar installers like Vivint Solar (VSLR), backed by Blackstone (BX), and SolarCity (SCTY), backed by Tesla's (TSLA) Elon Musk. Reference Link
March 18, 2015
11:03 EDTFCXStocks with call strike movement; NE FCX
Noble Corp. (NE) June 16 call option implied volatility increased 2% to 54, Freeport McMoRan (FCX) August 21 call option implied volatility increased 2% to 49 according to IVolatility.
07:27 EDTGS, FCXFreeport seeks funding from Blackstone, Apollo, Reuters says
Freeport McMoRan (FCX) has hired Goldman Sachs (GS) and Barclays (BCS) to find private equity firms willing to finance certain of its energy projects and asset developments, reports Reuters, citing people familiar with the matter. Freeport is in talks with Blackstone (BX), Apollo (APO), and Warburg Pincus about a potential partnership. The sources say the firm may be seeking "several billion dollars," though discussions are in "very early" stages. Reference Link
07:10 EDTBACPlatts to hold a forum
11th Annual Steel Markets North America is being held in Chicago on March 17-18.
06:09 EDTGSGoldman Sachs prices 6M shares of specialty lending arm, WSJ reports
According to a source, late yesterday, Goldman Sachs priced 6M shares of Goldman Sachs BDC, its specialty lending arm, at $20 per share with the shares set to begin trading today, The Wall Street Journal reports. Shares of Goldman Sachs BDC will trade under the ticker symbol "GSBD." Reference Link
March 17, 2015
13:40 EDTFCXAmended settlement agreement announced between Credit Suisse, Freeport
On March 16, an Addendum to the Stipulation and Agreement of Settlement, Compromise and Release was entered into with respect to the consolidated stockholder derivative litigation captioned In Re: Freeport-McMoRan Copper & Gold (FCX) Derivative Litigation, C.A. No. 8145-VCN. The Addendum modifies the terms of the settlement in order to resolve potential derivative claims against Credit Suisse Securities (CS) in connection with its engagement to act as lead financial advisor to the Special Committee of the Board of Directors of Freeport-McMoRan with respect to the company’s 2013 acquisitions of Plains Exploration & Production Company and McMoRan Exploration Co., which potential claims were previously excluded from the settlement as set forth in the Stipulation and Agreement of Settlement, Compromise and Release filed on January 15. As set forth in the Addendum, the original settlement consideration will be increased by $16.25M, consisting of a $10M cash payment to the company by Credit Suisse, and a credit of $6.25M to be redeemable by the company in connection with future assignments Credit Suisse performs. The Supplemental Cash Amount, together with the original settlement amount, less plaintiffs’ attorneys’ fees and expenses as awarded by the Court of Chancery of the State of Delaware, will be distributed to the company’s stockholders as a special dividend. The settlement is subject to specified conditions, including final approval by the Court of Chancery of the State of Delaware. The settling defendants and Credit Suisse vigorously deny all allegations of wrongdoing or fault but entered into the settlement to avoid the costs and distraction of continued litigation.
13:01 EDTGDGeneral Dynamics unit selected for $1.3M task order
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08:34 EDTBACBank of America reinstated with an Outperform at Raymond James
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07:18 EDTNOCSatellite & Access Intelligence to hold a exhibition
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06:46 EDTMCDMcDonald's burn complaints to focus on corporate reponsibility, WSJ says
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06:06 EDTMCDMcDonald's employees file complaints of burns, injuries, LA Times says
McDonald's employees have filed complaints against 28 McDonald's locations -- including nine owned by the corporation itself -- alleging they received burns on the job, reports the LA Times, citing statements by union-backed group Fast Food Forward. The complaints were lodged with the Occupational Safety and Health Administration and claim that greasy floors, lack of staff, and an extremely fast-paced environment elevate the risk of injury in McDonald's restaurants. Reference Link
March 16, 2015
17:07 EDTFCXCredit Suisse to pay Freeport McMoRan $10M to settle allegations, WSJ says
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10:22 EDTBACBank of America February default rate 2.98% vs. 2.93% last month
Reports February delinquency rate 1.86% vs. 1.83% last month.
08:23 EDTREGNPCSK9 data continues to impress, says Leerink
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07:16 EDTREGNRegeneron Sanofi dupilumab drug can generate $6B+ in revenue, says Bernstein
Bernstein believes that dupilumab, a drug made by Regeneron and Sanofi, has shown strong efficacy in patients with severe atopic dermatitis. The firm notes that the drug is currently in pivotal trials involving patients with severe levels of other common diseases. The firm thinks the drug can generate $1.5B of revenue by 2018 and $3.8B by 2020. Bernstein keeps a $500 price target and Outperform rating on Regeneron.
06:40 EDTREGNPCSK9 studies show potential improvement in heart health, WSJ says
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March 15, 2015
13:04 EDTREGNSanofi, Regeneron announce publication of results of ODYSSEY long term trial
Sanofi (SNY) and Regeneron Pharmaceuticals (REGN) today announced that 18-month results of a Phase 3 trial of Praluent, alirocumab, an investigational therapy, involving 2,341 high risk patients with hypercholesterolemia were published online in The New England Journal of Medicine. In the ODYSSEY LONG TERM trial, Praluent 150 mg every two weeks reduced low-density lipoprotein cholesterol by an additional 62% at week 24 when compared to placebo, the primary efficacy endpoint of the study, with consistent LDL-C lowering maintained over 78 weeks."These results demonstrated the durable efficacy for Praluent when added to maximally-tolerated statin therapy and further reinforce its generally consistent safety profile," said Jennifer Robinson, M.D., M.P.H., Director of the Prevention Intervention Center, Professor, Departments of Epidemiology & Medicine, College of Public Health at the University of Iowa. "Additionally, the post hoc analysis of major cardiovascular events represents an important finding for Praluent -- we look forward to results from the ongoing ODYSSEY OUTCOMES trial, which is prospectively evaluating the potential of Praluent to reduce cardiovascular events."
March 13, 2015
17:50 EDTNOCNorthrop Grumman awarded $113.3M government contract modification
Northrop Grumman Corp. Electronic Systems, Linthicum Heights, Maryland, is being awarded a $113,276,299 modification under a previously awarded contract to exercise an option for procurement of two additional Ground/Air Task-Oriented Radar low-rate initial production systems. Exercise of this option brings the total production of G/ATOR LRIP systems to six systems. Fiscal 2013 procurement funds in the amount of $1,396,263, fiscal 2014 procurement funds in the amount of $4,320,179, fiscal 2015 procurement funds in the amount of $80,992,517 and fiscal 2015 research, development, test and evaluation funds in the amount of $22,230,000 will be obligated at the time of award. Contract funds in the amount of $1,396,263 will expire at the end of the current fiscal year. This modification is awarded against a sole-source contract in accordance with 10 U.S.C. 2304(c)(1). The Marine Corps Systems Command, Quantico, Virginia, is the contracting activity.
17:33 EDTFCXS&P announces changes to S&P 100 Index
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11:40 EDTCMGEl Pollo Loco soars after Q4 results top estimates
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