New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 4, 2013
12:16 EDTYOKU, GCI, SONS, BRO, HUM, APKT, CS, CYBX, ORCLOn The Fly: Midday Wrap
Stocks on Wall Street were sharply lower at midday, with the major averages giving back most or all of Friday's gains. The indices began the session deep in negative territory and remain that way near the lunch hour. There was little on the domestic economic calendar to account for the weakness, but some market participants were attributing the move to profit-taking following a strong start to the year along with political concerns resurfacing in Europe... ECONOMIC EVENTS: In the U.S., the ISM New York area reading of 56.7 was ahead of the expected reading of 53.0. A separate report showed factory orders increased 1.8% in December, versus an expected increase of 2.3%. In Europe, Spanish and Italian government bond yields rose following political developments in both countries. Spain's opposition Socialist Party called on Prime Minister Mariano Rajoy to resign over a corruption scandal, while in Italy former PM Silvio Berlusconi's popularity is seeing a resurgence, which may threaten the reforms implemented by the outgoing government. In Asia, a report over the weekend showed China's non-manufacturing PMI ticked up to 56.2 from 56.1 last month... COMPANY NEWS: Shares of Acme Packet (APKT) surged 22.2% and traded at the $29.25 price it agreed to in a deal to be acquired by Oracle (ORCL). Several companies offering solutions in the same technology area advanced as well, particularly Sonus Networks (SONS), which climbed over 13%. Meanwhile, Oracle slid a bit more than 2% following the deal announcement... Among companies reporting earnings this morning, Humana (HUM) advanced while Gannett (GCI) declined... MAJOR MOVERS: Among the notable gainers was Cyberonics (CYBX), which rallied 8% after a former employee dropped a lawsuit against the company. Also higher were shares of Brown & Brown (BRO), which rose 5.5% after it reported quarterly results after the bell Friday and was upgraded to Outperform at Raymond James this morning. Among the noteworthy losers were Youku Tudou (YOKU), which fell over 6% after Maxim downgraded shares to a Sell rating, and Credit Suisse (CS), down nearly 6% as well following an initiation of coverage with a Hold rating at Canaccord... INDICES: Near noon, the Dow was down 139.75, or 1.00%, to 13,870.04; the Nasdaq was down 41.09, or 1.29%, to 3,138.01; and the S&P 500 was down 15.94, or 1.05%, to 1,497.23.
Sign up for a free trial to see the rest of the stories you've been missing.
October 2, 2015
08:31 EDTHUMAllergan and Humana announce research partnership
Subscribe for More Information
October 1, 2015
07:28 EDTCSSEC Commissioner calls for increased transparency for dark pools, Reuters says
Subscribe for More Information
September 30, 2015
08:08 EDTSONSBroadSoft can be a 'significantly larger' company, says Jefferies
Subscribe for More Information
06:58 EDTORCLOracle to furlough workers during holiday week, BI reports
Oracle has decided to close down during the holiday week between Christmas and New Year's, mandating that its employees pay for this furlough with paid vacation time, Business Insider reports, citing several sources. Some Oracle employees have been angered about this move that basically removes four days of paid time off from them, the report says. Reference Link
September 29, 2015
08:39 EDTORCLOracle Health Sciences adds 93 biopharma customers
Oracle (ORCL) Health Sciences announced that 93 emerging biopharma organizations worldwide have become new customers in the past year, adopting Oracle Health Sciences solutions to succeed in this rapidly evolving market and deliver drugs to patients faster. Organizations, including Accera and NewLink (NLNK), selected Oracle Health Sciences solutions to manage their end-to-end clinical trial processes, boost clinical development productivity, facilitate compliance, and build scalable, affordable platforms for growth.
September 28, 2015
15:15 EDTCSCredit Suisse to pay $4.25M over deficient blue sheet submissions
Subscribe for More Information
08:01 EDTCYBXCyberonics announces results from extension of ANTHEM-HF study
Subscribe for More Information
September 25, 2015
12:04 EDTCSGlencore taps banks to help sell grains business, Bloomberg reports
Subscribe for More Information
06:39 EDTHUMAPA: Big insurance firm mergers could harm mental healthcare, Reuters says
Subscribe for More Information
September 23, 2015
10:20 EDTORCLOptions with decreasing implied volatility
Options with decreasing implied volatility: CVC HRTX NWBO ATML RHT KMX OVTI ADBE ORCL DRI
10:02 EDTCYBXHigh Court of England and Wales approves Sorin, Cyberonics combination
Sorin S.p.A. and Cyberonics announced that the High Court of England and Wales has issued an order approving completion of the cross-border merger of Sorin with and into LivaNova PLC following the adoption of the transaction agreement providing for the business combination between Sorin and Cyberonics by Cyberonics stockholders on September 22, 2015. The Sorin Merger will become effective at 12:01 a.m. on October 19, 2015. Thereafter, at 12:01 a.m. EDT on October 19, 2015, the merger of Cypher Merger Sub, Inc., a U.S. subsidiary of LivaNova, with and into Cyberonics will also become effective. Pursuant to the Transaction Agreement, at the effective time of the Sorin Merger, each outstanding Sorin ordinary share held by a Sorin shareholder will be converted into the right to receive 0.0472 ordinary shares of GBP 1.00 nominal value each in the share capital of LivaNova, and at the effective time of the Cyberonics Merger, each outstanding share of Cyberonics common stock held by a Cyberonics stockholder will be converted into the right to receive 1 ordinary share of GBP 1.00 nominal value each in the share capital of LivaNova, subject to the terms and conditions in the Transaction Agreement.
08:11 EDTHUMLeerink sees less political risk for Managed Care mergers after hearings
Subscribe for More Information
September 22, 2015
20:02 EDTHUMClinton vows $250 cap on monthly drug costs in blast against biotechs, insurers
Democratic presidential candidate Hillary Clinton railed against biotech companies as well as health insurers at a community health care forum in Iowa on Tuesday. Clinton began her speech by praising the Affordable Care Act, but quickly noted that she wants to strengthen it due to what she called the rising cost of prescription drugs. She explained, "Our pharmaceutical and biotechnology industries deserve credit... [But] too often, these drugs cost a fortune. Now, sometimes there is a good reason for that. Scientific breakthroughs are often the result of major investment... so it may makes sense, for a short period of time, to have to charge a lot of money for a drug. But when a drug has no competition, when there aren't any other treatments that can do what it does, pharmaceutical companies can charge astronomical fees far beyond anything that it would take to recoup their investment, and far beyond what they charge consumers anywhere else in the world outside of America." Referencing the recent criticism against Turing Pharmaceuticals, Clinton went on to say that "pharmaceutical companies that acquire an existing affordable drug that people rely on, and then turn around and charge a fortune for it, [are just betting] on the fact that desperate people will find some way to pay for it." Preemptively responding to questions of whether greater regulation will dampen investment, Clinton commented that "some people worry that my proposals will threaten innovation, but I have designed a plan that will do exactly the opposite... Under my plan, drug companies that want to keep getting federal support will have to redirect more of their profits into meaningful investments in research and development." Clinton also criticized incremental drug improvements, saying that "too often, so-called new drugs are really old drugs that have just been tweaked a little bit, but then they're marketed as breakthrough drugs and they're sold for high prices." The Democratic candidate went on to condemn advertising in the drug industry, remarking that "I also want to tackle direct to consumer advertising... Other countries ban these ads because they are so often misleading. But at the very least, we shouldn't be encouraging them with corporate write-offs... Under my plan, we will instead use that taxpayer money to fund innovation... I would also like to make sure any ads the drug industry does run are approved by the FDA." Moving more broadly onto Medicaid and health insurers, Clinton stated, "I believe Medicare should be able to negotiate for lower prices for its members... I will require drug companies to provide higher rebates for prescription drugs to low income Medicare patients, just like they have to do for Medicaid patients... I think the insurance companies need to be put on notice." Providing more concrete details of her plan, Clinton concluded, "I will cap out of pocket drug costs for working families. You won't have to pay more than $250 a month for covered medications... Particularly for people who have a chronic illness. Also under my plan, you will be able to import cheaper drugs from other countries legally. If the medicine you need costs less in Canada, you should be able to buy it from Canada or any other country that meets our safety standards... I will also make sure we have more generics on the market [by boosting funding for] the FDA's office of generic drugs."
14:52 EDTHUMAetna plans to raise Humana wages after merger, Bloomberg says
Aetna (AET) CEO Mark Bertolini plans to raise wages to $16 per hour for about 10,000 low-wage Humana (HUM) employees if the prospective merger of the two companies goes through, reports Bloomberg, citing written testimony at a U.S. Senate subcommittee hearing. "Our hope is these initiatives will help reduce employee turnover," explained Bertolini. Reference Link
08:37 EDTHUMAetna, Anthem CEOs set to testify to Senate committee, WSJ reports
Subscribe for More Information
07:34 EDTCSDenver Gold Group to hold a forum
Subscribe for More Information
September 21, 2015
15:04 EDTCYBXCyberonics to host special shareholder meeting
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use