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Stock Market & Financial Investment News

News Breaks
March 6, 2014
08:09 EDTMRK, ALNYAlnylam announces closing of previously announces acquisition of Merck unit
Alnylam (ALNY) announced that the previously announced acquisition of Merckís (MRK) wholly owned subsidiary, Sirna Therapeutics, has closed, following the expiration of the Hart-Scott-Rodino waiting period. On January 10, Alnylam entered into a stock purchase agreement with Merck pursuant to which Alnylam agreed to purchase from Merck all of Merckís rights, title, and interest in and to all of the outstanding shares of common stock of Sirna Therapeutics. In consideration for the Sirna common stock, Alnylam paid Merck $25M in cash. In addition, Alnylam agreed to issue to Merck 2,520,044 shares of Alnylam common stock, having a value of $150M as calculated under the terms of the stock purchase agreement on the date of execution, and representing an approximately 3% ownership position in Alnylamís outstanding common stock. Alnylam issued 85% of the shares at the closing and will issue the remainder of shares upon the completion of certain technology transfer activities pursuant to the terms of the stock purchase agreement.
News For ALNY;MRK From The Last 14 Days
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September 4, 2015
07:20 EDTMRKMerck selloff overdone, says SunTrust
After meeting with four senior Merck executives, SunTrust says that the selloff in the stock over concerns about the company's Januvia franchise are overdone. The firm expects the company's diabetes drugs to generate over $8.5B in revenue in 2020, up from less than $6B currently, through the launch of several new treatments within the next two years. It is upbeat on the outlook for the company's Keytruda cancer treatment and reiterates a $72 price target and Buy rating.
September 2, 2015
08:04 EDTMRKMerck says FDA approves pediatric indication for Emend capsules
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September 1, 2015
09:04 EDTMRKMerck reports new analyses from IMPROVE-IT study with Vytorin
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August 31, 2015
16:23 EDTALNYOn The Fly: Top stock stories for Monday
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12:20 EDTALNYOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday, putting the averages on track to close out a down month with a down day. The weakness is being attributed to comments from several Fed officials on the likelihood of interest rates rising sometime this year. Also impacting the negative tone may be the media reports regarding China pulling back on its recent asset purchases to shore up its stock market. ECONOMIC EVENTS: In the U.S., the Chicago PMI dipped to 54.4 in August from 54.7 in July, versus expectations for it to have edged up to 54.5. The Dallas Fed manufacturing survey general activity index fell to -15.8, versus expectations for a reading of -4.0. In Asia, Chinese stocks fell once again, with the Shanghai composite index closing down 0.82% to finish the month of August with a 12% decline. Japan's Nikkei index finished the month with an even worse daily decline, falling about 1.3%, giving the Nikkei an 8% drop during August. In Europe, a flash estimate from Eurostat showed inflation in the euro area remained unchanged at 0.2% in August. COMPANY NEWS: Shares of Phillips 66 (PSX) advanced 3% after Warren Buffett's Berkshire Hathaway (BRK.A) disclosed late Friday a $4.5B stake in the oil and gas refining and marketing company. Berkshire owns of the oil refiner. Berkshire increased its stake in Phillips 66 to nearly 58M shares between August 26 and August 28, according to filings with the SEC... Intel (INTC) and Goldman Sachs (GS) were the top gainers on the Dow and among the only names in the green among the members of the bluechip index, as both stocks benefited from analyst upgrades. Research firm Northland Capital upgraded Intel to Outperform, saying that the PC market has bottomed and that the chipmaking giant should benefit from its pending acquisition of Altera (ALTR), while Evercore ISI upgraded Goldman Sachs to Buy, saying the recent pickup in volatility has led to higher trading volumes, which should give a boost to the typically slowest summer month of the year. MAJOR MOVERS: Among the notable gainers was Vital Therapies (VTL), which gained 14% after the company announced that additional data from its VTI-208 clinical trial were presented this weekend at an international symposium on dialysis in liver disease. Also higher were shares of The Medicines Company (MDCO), which rose 18% after several analyst said that a Phase I trial of the company's ALN-PCSsc cholesterol treatment yielded better than expected results. Shares of The Medicines Company's partner on the drug, Alnylam Pharmaceuticals (ALNY), slipped 4% following the data announcement. Also lower were shares of ConforMIS (CFMS), which fell 18% after the company initiated a voluntary recall of specific serial numbers of patient-specific instrumentation for its knee replacement product systems and lowered its fiscal year revenue guidance. INDEXES: Near midday, the Dow was down 61.37, or 0.37%, to 16,581.64, the Nasdaq was down 16.59, or 0.34%, to 4,811.74, and the S&P 500 was down 8.73, or 0.44%, to 1,980.14.
07:45 EDTALNYRegeneron should be bought on any pullbacks, says RBC Capital
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06:35 EDTALNYAlnylam price target raised to $184 from $180 at Piper Jaffray
Piper Jaffray analyst Edward Tenthoff raised his price target for Alnylam Pharmaceuticals (ALNY) to $184 saying the company over the weekend reported positive Phase I data on ALN-PCS showing LDL-cholesterol lowering comparable to Amgen (AMGN) and Sanofi/Regeneron's (REGN) anti-PCSK9 antibodies, but with only quarterly or potentially every 6-month injections. Tenthoff recommends using the recent pullback in shares of Alnylam as a buying opportunity and keeps an Overweight rating on the name.
August 30, 2015
15:50 EDTALNYAlnylam, The Medicines Co. say ALN-PCSsc reduces LDL cholesterol as much as 83%
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12:33 EDTMRKDividend-rich blue chips look attractive amid market volatility, Barron's says
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August 28, 2015
12:59 EDTALNYFly Watch: Medicines Co., Alnylam rise ahead of cholesterol study presentation
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August 26, 2015
08:53 EDTMRKMerck management to meet with SunTrust
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07:09 EDTALNYVertex, Novavax among select biotechs to buy on weakness, says Piper Jaffray
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August 24, 2015
11:43 EDTALNYThe Medicines Co. and Alnylam Pharmaceuticals hold a joint conference call
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August 23, 2015
12:35 EDTMRKBiotech firms could see 'billions' in sales from new cancer drugs, Barron's says
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August 21, 2015
05:44 EDTMRKStocks with implied volatility movement; DIS MRK
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