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Stock Market & Financial Investment News

News Breaks
April 13, 2012
10:24 EDTJBHT, ITW, AMT, PPL, CELG, NOK, ABCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Tower (AMT) downgraded to Neutral from Overweight at Piper Jaffray... AmerisourceBergen (ABC) downgraded to Equal Weight from Overweight at Morgan Stanley... Celgene (CELG) downgraded to Hold from Buy at Auriga... Illinois Tool Works (ITW) downgraded to Underweight from Equal Weight at Morgan Stanley... Nokia (NOK) downgraded to Equal Weight from Overweight at Barclays... PPL Corp. (PPL) downgraded to Buy from Conviction Buy at Goldman... J.B. Hunt (JBHT) downgraded to Neutral from Buy at Sterne Agee.
News For AMT;ABC;CELG;ITW;NOK;PPL;JBHT From The Last 14 Days
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July 15, 2015
19:32 EDTCELGCelgene looks like a buy, Barron's says
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17:41 EDTCELGCelgene-Receptos deal includes $230M, $400M termination fees
In a regulatory filing, Celgene (CELG) reported that its merger agreement with Receptos (RCPT) contains certain termination rights. Upon termination of the agreement by Receptos or Celgene upon specified conditions, a termination fee of $230M may be payable by Receptos to Celgene. The agreement also provides that Celgene will be required to pay Receptos a reverse termination fee of $400M and extend Receptos a loan in the amount of $350M in the event that HSR approval is not obtained under certain circumstances.
16:28 EDTCELGOn The Fly: Top stock stories for Wednesday
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12:18 EDTCELGOn The Fly: Top stock stories at midday
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09:32 EDTCELGActive equity options trading on open
Active equity options trading on open: AAPL FB BAC RCPT MU YUM NFLX CELG
09:23 EDTCELGOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Bank of America (BAC), up 2.9%... CSX (CSX), up 2.6%. ALSO HIGHER: Hertz (HTZ), up 3.9% after being upgraded to Buy from Hold at Deutsche Bank. NOTABLE: Receptos (RCPT), up 10.5% following deal to be acquired by Celgene (CELG)... Celgene is up 7.9% after announcing acquisition of Receptos... UP AFTER RECEPTOS/CELGENE DEAL: ZIOPHARM Oncology (ZIOP), up 1.7%... Arena Pharmaceuticals (ARNA), up 6.5%. DOWN AFTER EARNINGS: Delta Air Lines (DAL), down 2.4%. ALSO LOWER: Mead Johnson (MJN), down 4.8% after reducing fiscal 2015 EPS guidance... Columbia Pipeline Partners (CPPL), down 5.6% after 4.64M share Block Trade priced at $24.15... SINA (SINA), down 2.7% after being downgraded to Hold from Buy at Deutsche Bank... MacroGenics (MGNX), down 2.8% after 3.25M share Secondary priced at $37.00.
08:46 EDTCELGCelgene price target raised to $191 from $163 at BMO Capital
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08:40 EDTCELGCelgene acquisition positive, says JMP Securities
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08:07 EDTJBHTJ.B. Hunt July volatility elevated into Q2 and outlook
J.B. Hunt July call option implied volatility is at 45, August is at 23, November is at 22 compared to its 52-week range of 15 to 28, suggesting large near term price movement into the expected release of Q2 results on July 17.
07:58 EDTCELGAnalysts break down impact of $7.2B Receptos buyout
After Celgene (CELG) announced last night that the company has agreed to acquire Receptos (RCPT) for $232 per share in cash, or a total of about $7.2B net of cash acquired, research firms have chimed in with their opinions on how the proposed deal may impact others in the biotech space. Receptos key asset is Ozanimod, which is being studied in Phase III trials for relapsing multiple sclerosis and ulcerative colitis. DERIVATIVE CALLS: Piper Jaffray analyst Edward Tenthoff told investors that he views Celgene's deal for Receptos as good for Arena Pharmaceuticals (ARNA). The analyst notes that Arena's APD334 is already showing dose-dependent decreases in circulating lymphocyte counts and that the company will initiate Phase II studies in ulcerative colitis and Crohn's disease this year. Tenthoff reiterates an Overweight rating and $7.50 price target on Arena, which has a market capitalization around $1B and closed yesterday up 8c to $4.47. In its own note to investors this morning, Nomura said Celgene's deal could put downward pressure on Biogen's (BIIB) long-term multiple sclerosis estimates. Nomura's M. Ian Somaiya contended that one-year Phase II efficacy data for Ozanimod looked as good as Novartis’s (NVS) Gilenya and Biogen's Tecfidera’s Phase III at year 2. Somaiya also wondered if rival Gilead (GILD) could be "looking for something bigger" than Receptos for its own deal, telling investors that the firm views Incyte (INCY) as Gilead's most likely takeout target. Incyte's shares closed up $4.46 at $117.46 yesterday, giving the company a market cap of about $20B. RIVAL BID?: Wedbush analyst Liana Moussatos believes another bidder may seek to acquire Receptos, noting that she previously estimated Receptos could be valued at $348 per share, or about $10.9B, in a buyout. Moussatos noted that Celgene said it expects annual peak sales for Ozanimod to reach about $4B-$6B for RMS and UC, making its acquisition price of $7.2BN only a bit more than about 1X peak sales without accounting for other possible indications or the rest of its pipeline. Moussatos told investors she sees "plenty" of potential upside to justify a rival bidder stepping in and reiterated the firm's Outperform rating on Receptos shares. PRICE ACTION: In pre-market trading, Receptos rose 10% to $228.61 while Gilead gained 1.4% to about $119 per share.
07:57 EDTCELGCelgene price target raised to $150 from $135 at RBC Capital
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07:55 EDTCELGReceptos acquisition a 'great deal' for Celgene, says UBS
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07:46 EDTCELGCelgene acquisition of Receptos will be viewed favorably, says Baird
Baird believes Celgene's (CELG) acquisition of Receptos (RCPT) will be viewed favorably by the Street, as the firm sees the price as attractive enough to move the needle for Celgene in the long term. Baird reiterated its Outperform rating and raised its price target to $162 from $139 on Celgene shares.
07:43 EDTCELGReceptos volatility flat into Celgene acquiring for $7.2B
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07:29 EDTNOKNokia's HERE forms Open Mobile Ticketing Alliance
Nokia's (NOK) HERE mapping services announced that along with partners in the public and private sector it is forming the Open Mobile Ticketing Alliance, an effort to develop global standards that would allow people to buy public transit tickets from a single app on their mobile devices in cities worldwide. The aim of the Open Mobile Ticketing Alliance is to enable the vision of 'Register once, travel anywhere' by developing open, interoperable standards with payment vendors and transit operators. Other founding members include transportation service providers Scheidt & Bachmann and Thales (TCSFY), and mobile payment provider Verifone (PAY) Mobile Money. Public transit authorities implementing solutions based on OMTA benefit from lower fare-collection costs, while passengers can get the lowest possible fare based on how often they ride.
07:09 EDTCELGCelgene may face rival bidder for Receptos, says Wedbush
Wedbush analyst Liana Moussatos believes another bidder may seek to acquire Receptos (RCPT), which has agreed to a $232 per share takeover deal with Celgene (CELG), noting that she previously estimated Receptos could be valued at $348 per share, or about $10.9B, in a buyout. Moussatos noted that Celgene said it expects annual peak sales for Receptos' Ozanimod to reach about $4B-$6B for RMS and UC, making its acquisition price of $7.2BN only a bit more than about 1X peak sales without accounting for other possible indications or the rest of its pipeline. Moussatos, who told investors she sees "plenty" of potential upside to justify a rival bidder stepping in, reiterated the firm's Outperform rating and $348 acquisition value on Receptos shares.
07:04 EDTCELGCelgene volatility low into acquiring Receptos for about $7.2B
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06:28 EDTCELGCelgene price target raised to $175 from $160 at Deutsche Bank
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05:59 EDTCELGPiper views Receptos buyout as good for Arena
Piper Jaffray analyst Edward Tenthoff views Celgene's (CELG) acquisition of Receptos (RCPT) as good for Arena Pharmaceuticals (ARNA). Tenthoff views Arena as a "derivative call" on the deal with the company's APD334 already showing dose-dependent decreases in circulating lymphocyte counts. Arena will also initiate Phase II studies in ulcerative colitis and Crohn's disease this year, the analyst points out. Receptos' ozanimod is being studied in Phase III trials for relapsing multiple sclerosis and ulcerative colitis. Tenthoff reiterates an Overweight rating on Arena with a $7.50 price target. The company has a market capitalization around $1B and closed yesterday up 8c to $4.47
05:52 EDTCELGReceptos deal 'another good move' for Celgene, says Piper Jaffray
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