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Stock Market & Financial Investment News

News Breaks
May 20, 2014
08:15 EDTQSII, EXEL, SGEN, MNK, CGIX, AHS, GILD, ARRYUBS to hold a conference
2014 Global Healthcare Conference to be held in New York on May 19-21 with webcasted company presentations to begin on May 20 at 8 am; not all company presentations may be webcasted. Webcast Link
News For ARRY;CGIX;EXEL;GILD;MNK;QSII;AHS;SGEN From The Last 14 Days
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December 8, 2014
16:00 EDTGILDOptions Update; December 8, 2014
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10:04 EDTSGENSeattle Genetics highlights 'encouraging' long-term outcomes in Phase 1 trial
Seattle Genetics highlighted multiple ADCETRIS data presentations in frontline and salvage Hodgkin lymphoma at the 56th American Society of Hematology Annual Meeting and Exposition taking place in San Francisco, CA, December 6-9. ADCETRIS is an antibody-drug conjugate directed to CD30, which is expressed in classical HL and systemic anaplastic large cell lymphoma, a type of T-cell lymphoma. Data highlighted in oral sessions include encouraging long-term outcomes from a phase 1 trial evaluating ADCETRIS in combination with AVD chemotherapy in frontline HL, as well as strong activity evaluating ADCETRIS combination therapy in second-line HL and ADCETRIS monotherapy or combination therapy in frontline HL patients age 60 and older. In addition, encouraging data from multiple investigator-sponsored trials were featured in oral and poster sessions evaluating ADCETRIS in frontline and salvage HL and in non-Hodgkin lymphoma settings.
10:02 EDTGILDGilead presents follow-up data from Zydelig registrational studies
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08:33 EDTSGENSeattle Genetics should be bought on weakness, says RBC Capital
RBC Capital believes that Seattle Genetics' shares could be under pressure today due to questions around its AETHERA data and the checkpoint inhibitor efficacy of its ADCETRIS drug. However, the firm says that other issues are more important over the longer term, including the efficacy of ADCs as a cancer treatment, the emergence of other pipeline products and therapeutic approaches, and efficient development pathways to the market. The firm keeps a $48 price target and Outperform rating on Seattle Genetics.
07:37 EDTCGIXCancer Genetics announces launch of sequencing based panel for CLL
Cancer Genetics announced it has been licensed by the Clinical Laboratory Improvement Amendments to perform Focus::CLL, the company's unique next-generation sequencing-based panel for chronic lymphocytic leukemia and small lymphocytic lymphoma. The panel assesses seven genes with clinical relevance for prognosis, disease management, and treatment selection. The targeted NGS panel was designed to offer actionable and immediately relevant information for clinicians. With an analytical sensitivity of 5%, the test is able to detect biomarker mutations and aberrations that are present at very low levels and which may be missed by other, less sensitive methodologies. Improved sensitivity can lead to enhanced diagnostic and prognostic capabilities for this disease and improved patient outcomes.
December 7, 2014
13:23 EDTSGENSeattle Genetics, Takeda announce four-year data from ADCETRIS trial
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12:50 EDTSGENSeattle Genetics presents data from SGN-CD19A antibody-drug conjugate
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12:44 EDTSGENSeattle Genetics, Takeda report Phase 3 AETHERA trial data from Adcetris
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December 5, 2014
09:36 EDTGILDActive equity options trading
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07:37 EDTGILDGilead price target raised to $121 from $110 at JPMorgan
JPMorgan raised its price target for Gilead shares to $121 saying the company's potential cash flow generation is "immense" and provides "significant strategic flexibility." The firm estimates Gilead can generate more than $30B in cash in the next two years and $80B-plus over the next five years. It keeps an Overweight rating on the stock.
December 4, 2014
12:33 EDTMNKMallinckrodt management to meet with Piper Jaffray
Meetings to be held in Baltimore on December 8 and in Atlanta on December 9 hosted by Piper Jaffray.
12:22 EDTARRYOn The Fly: Midday Wrap
Stocks on Wall Street began the session slightly lower despite relatively in-line jobless claims data, as European markets moved down following a rate decision and accompanying commentary from ECB President Mario Draghi. Adding to the modest pressure seen in morning trading may be the fact that oil prices continue to move lower. ECONOMIC EVENTS: In the U.S., initial jobless claims fell 17K to 297K in the week ended November 29, which was nearly in-line with the expectation for 295K first-time claims. Challenger reported announced layoffs fell 15.2K in November to 35.9K. In Europe, the European Central Bank kept its key rates unchanged, as expected. ECB President Mario Draghi said in his accompanying press conference that the latest euro area macroeconomic projections indicate lower inflation, accompanied by weaker real GDP growth and subdued monetary dynamics. Additionally, he stated that early next year the Governing Council will reassess the monetary stimulus achieved, the expansion of the balance sheet and the outlook for price developments. "Should it become necessary to further address risks of too prolonged a period of low inflation, the Governing Council remains unanimous in its commitment to using additional unconventional instruments within its mandate. This would imply altering early next year the size, pace and composition of our measures," Draghi said. COMPANY NEWS: Shares of Barnes and Noble (BKS) slid about 10% after the company reported lower than expected second quarter earnings and said it continues to expect both Retail comparable bookstore sales and Retail Core comparable bookstore sales to decline in the low-single digits this fiscal year. Additionally, Barnes & Noble and Microsoft (MSFT) agreed to terminate their commercial agreement and B&N agreed to acquire Microsoft's entire preferred interest in NOOK Media in exchange for $62.4M cash and 2.74M shares of its stock. MAJOR MOVERS: Among the notable gainers was Hawaiian Electric (HE), which jumped 16% after its board approved a plan to spin off ASB Hawaii, the parent company for American Savings Bank, and establish it as an independent publicly traded company and NextEra Energy (NEE) agreed to acquire the company, excluding the banking subsidiary. Array BioPharma (ARRY) rose 15% after announcing it has reached a definitive agreement with Novartis (NVS) to regain full worldwide rights to binimetinib, a MEK inhibitor in three Phase 3 trials, which Piper Jaffray called a "big win" for the company. Among the noteworthy losers was UTi Worldwide (UTIW), which fell 11.5% after confirming that exploratory conversations have taken place with DSV, but adding those discussions never progressed beyond a preliminary stage and that no talks are currently taking place. Also lower were shares of Express (EXPR), which declined over 9% after the apparel retailer reported lower than expected Q3 revenue and gave EPS guidance that fell short of estimates. INDEXES: Near midday, the Dow was down 53.56, or 0.3%, to 17,859.06, the Nasdaq was down 2.80, or 0.06%, to 4,771.67, and the S&P 500 was down 5.49, or 0.26%, to 2,068.84.
09:23 EDTARRYOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Avago (AVGO), up 7.2%... Kroger (KR), up 3.1%... Rite Aid (RAD), up 3.1%... Sears Holdings (SHLD), up 2.3%. ALSO HIGHER: Array Biopharma (ARRY), up 24% after reaching a definitive agreement with Novartis (NVS) to regain full worldwide rights to binimetinib... Hawaiian Electric (HE), up 13.5% following merger announcement with NextEra Energy (NEE)... SinoCoking Coal (SCOK), up 14.2% after beginning construction of second aboveground Syngas facility... Plug Power (PLUG), up 12.3% after announcing $20M ReliOn fuel cell contract... Mobileye (MBLY), up 3.4% after being upgraded to Buy from Hold at Deutsche Bank... CTI BioPharma (CTIC), up 3.6% following $15M payment from Teva for TRISENOX... TASER (TASR), up 3% after receiving multiple orders of AXON body cameras. DOWN AFTER EARNINGS: Barnes & Noble (BKS), down 7.6%... Express (EXPR), down 11.3%... Toronto-Dominion Bank (TD), down 1.4%... Toro Company (TTC), down 1.1%... Aeropostale (ARO), down 14.1%. ALSO LOWER: Kindred Biosciences (KIN), down 29.3% after announcing that it will discontinue its AtoKin study... UTi Worldwide (UTIW), down 13% after saying that there are no current talks with DSV A/S... Agree Realty (ADC), down 3.7% after 2.1M share Spot Secondary priced at $29.90.
09:15 EDTARRYArray BioPharma to host conference call
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09:01 EDTGILDVA negotiated $594 per dose price for Gilead HCV treatment
A Veterans Health Administration official told a Senate committee yesterday that Veterans' Affairs has "moved rapidly to deploy new, more effective, less toxic HCV treatments and has been able to negotiate significant discounts for these newer therapies." The agency negotiated a price of $594 per dose for Gilead's (GILD) Hepatitis C virus drug Sofosbuvir, below the commercial price of $1,000 per dose, VHA Chief Consultant for Pharmacy Benefits Management Michael Valentino told the Senate's Committee on Veterans' Affairs. The agency also received a $413 per dose price for Johnson & Johnson's (JNJ) Simeprevir, below the commerical price of $790. The VA has approximately 174,000 veterans in care with HCV, making it the largest single HCV provider in the U.S., Valentino pointed out. He added, "Like the rest of the country, VA has treated only a portion of Veterans for HCV because treatment and cures have been difficult to achieve due to low efficacy and high toxicity of standard drug therapies." Reference Link
05:54 EDTARRYArray BioPharma regaining binimetinib a 'big win,' says Piper Jaffray
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December 3, 2014
18:29 EDTARRYOn The Fly: After Hours Movers
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16:05 EDTARRYArray BioPharma to regain worldwide rights to Binimetinib
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16:00 EDTGILDOptions Update; December 3, 2014
iPath S&P 500 VIX Short-Term Futures down 45c to 26.52. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX C GILD RIG ABX according to Track Data.
09:35 EDTGILDActive equity options trading
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