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Stock Market & Financial Investment News

News For SQNM;HITK;DSCI;HTWR;IMGN;MDAS;CRVL;CCRN;AMED;AEZS From The Last 14 Days
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March 23, 2015
16:20 EDTIMGNOn The Fly: Closing Wrap
Stocks on Wall Street opened in relatively quiet fashion and remained that way throughout the session until a sharp selloff in the closing minutes. For most of the day the averages moved in a narrow range, as the Dow broke its streak of consecutive days with triple digit moves. Like stocks, the oil markets had a quiet session that stood out amid the recent volatility in crude prices. A late day drop prevented the major stock indexes from adding to the big gains they'd notched on Friday. ECONOMIC EVENTS: In the U.S., the Chicago Fed's national activity index fell to -0.11 in February, below expectations for a reading of 0.10. Existing home sales rose 1.2% to a 4.88M rate in February, which was below the consensus forecast for them to grow 2% to a 4.92M unit rate. COMPANY NEWS: Shares of Kansas City Southern (KSU) declined $9.21, or 7.96%, to $106.48 after the railroad operator lowered its fiscal year revenue guidance to reflect slower year-to-date carload growth primarily from the energy sector, along with a continued deterioration in the value of the Mexican peso against the U.S. dollar and lower fuel surcharge revenues driven by lower WTI prices. The revenue warning appeared to weigh on others in the rail industry as well, with Union Pacific (UNP) falling $4.67, or 3.98%, to $112.78, Norfolk Southern (NSC) dropping $3.87, or 3.5%, to $106.56 and Canadian National (CNI) sliding $1.13, or 1.65%, to $67.24. MAJOR MOVERS: Among the notable gainers was ImmunoGen (IMGN), which gained $1.25, or 16.8%, to $8.69 after Takeda (TKPYY) licensed rights to use the company's antibody drug conjugate technology. Also higher was Tenet Healthcare (THC), which rose $2.45, or 4.94%, to $52.07 after agreeing to combine its short-stay surgery and imaging center assets into a new joint venture with United Surgical Partners International. Tenet will initially own 50.1% of the joint venture and will consolidate its financial results and will have a path to full ownership of USPI over the next five years through a put/call structure, the company noted. Among the noteworthy losers was MEI Pharma (MEIP), which plunged $4.37, or 69.37%, to $1.93 and was downgraded by at least four Wall Street research firms after the combination of Pracinostat and azacitidine showed no difference in the rate of complete remission, the primary endpoint of a Phase II study, compared to azacitidine alone. Also lower were shares of Vertex (VRTX), which fell $5.21, or 3.98%, to $125.79 after reporting data from a study evaluating VX-661 in combination with ivacaftor in cystic fibrosis that JPMorgan said was generally below expectations. INDEXES: The Dow fell 11.61, or 0.06%, to 18,116.04, the Nasdaq lost 15.44, or 0.31%, to 5,010.97, and the S&P 500 dropped 3.68, or 0.17%, to 2,104.42.
12:17 EDTIMGNOn The Fly: Midday Wrap
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09:28 EDTIMGNOn The Fly: Pre-market Movers
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06:31 EDTIMGNTakeda licenses rights to use ImmunoGen's antibody drug conjugate technology
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March 20, 2015
15:30 EDTDSCIBroadfin Capital raises stake in Derma Sciences to 8.3% from 7.4%
On March 19, Broadfin Capital and certain of its affiliates entered into a letter agreement with Derma Sciences. Pursuant to the Settlement Agreement, the company agreed to nominate Samuel E. Navarro for election to its Board of Directors at the 2015 annual meeting of the stockholders, and not to nominate C. Richard Stafford, a current member of the Board, for election. Furthermore, the company granted Broadfin the right to designate a replacement candidate for Navarro in the event Navarro is unable, or at any time ceases, to serve as a director of the company, for so long as Broadfin owns at least 5% of the outstanding Shares of the company. Derma Sciences also agreed to entered into a Consulting Agreement with Jason M. Aryeh for various strategic consulting services in order to increase stockholder value. Broadfin agreed, amongst other things, not to engage in proxy solicitation activities with respect to the 2015 Annual Meeting and to cause all of its Shares to be voted in favor of the director candidates nominated by the Board for election at the 2015 Annual Meeting.
March 19, 2015
17:39 EDTSQNMSequenom launches the HerediT test in collaboration with Recombine
Sequenom's wholly owned subsidiary, Sequenom Laboratories, and Recombine Inc., a clinical genetic testing company dedicated to helping patients and providers make informed healthcare decisions, launched the HerediT UNIVERSAL carrier screening test as a service to ordering physicians. The HerediT UNIVERSAL test screens for more than 250 genetic diseases by analyzing over 2,000 genetic mutations.
07:59 EDTSQNMSequenom management to meet with William Blair
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March 18, 2015
11:34 EDTDSCIBroadfin Capital reports 8.3% stake in Derma Sciences, will continue talks
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March 17, 2015
16:27 EDTAEZSAeterna Zentaris reports Q4 EPS 6c, consensus (16c)
The increase in net income for the three-month period ended December 31, as compared to the same period in 2013, is due largely to higher comparative net finance income, offset partially by higher comparative operating expenses and by lower net income from discontinued operations. The decrease in net income for the year ended December 31, as compared to the same period in 2013, is due largely to the higher loss from operations and to lower net income from discontinued operations, partially offset by higher comparative net finance income.
16:26 EDTMDASMedAssets promotes Garner to Chief Strategy Officer and Cocaluca to CFO
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07:05 EDTSQNMSequenom elects Kenneth Buechler as Chairman of the Board
Sequenom elected Kenneth Buechler as Chairman of the Board, effective April 1, 2015. Buechler succeeds Harry Hixson who will retire from the position effective March 31 after 11 years of service. Incoming chairman, Dr. Buechler, has served on the board of directors since December 2009. Prior to joining Sequenom's board, he served as President and Chief Scientific Officer of Biosite Incorporated, which he co-founded.
07:02 EDTMDASHealthways, MedAssets partner in new five-year agreement
Healthways (HWAY) has partnered with MedAssets (MDAS) to expand patient access to the Dr. Dean Ornish Program for Reversing Heart Disease. Under the five-year agreement, Healthways has contracted with MedAssets as its sales partner to accelerate deployment of the Ornish Reversal Program to hospitals, health systems and physician organizations. The Ornish Reversal Program is the most scientifically proven platform in lifestyle medicine for treating and reversing heart disease and other chronic conditions.
March 16, 2015
05:40 EDTSQNMIllumina files patent infringement suit in UK regarding NIPT patents
Illumina (ILMN) announced that it and its wholly-owned subsidiary, Verinata Health have filed a patent infringement suit against Premaitha Health in the High Court of Justice, Chancery Division, Patents Court in the United Kingdom. Illumina is seeking all available remedies, including damages and injunctive relief. The patents asserted are European Patent 0 994 963 B2 and European Patent 1 981 995 B1, which are exclusively licensed to Illumina from Sequenom (SQNM), and The Board of Trustees of Leland Stanford Junior University, respectively. Stanford is joined in the suit as a necessary party because it is the registered owner of the European Patent 1 981 995 B1. The patents are directed to using cell-free fetal DNA for non-invasive prenatal testing. The suit accuses Premaitha’s IONA Test of infringement, including its use of next-generation sequencing to analyze cell-free fetal DNA from a sample of maternal blood.
March 12, 2015
07:32 EDTDSCIDerma Sciences reaffirms FY15 revenue view $88.1M, consensus $88.41M
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07:32 EDTDSCIDerma Sciences reports Q4 EPS (37c), consensus (45c)
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