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Stock Market & Financial Investment News

News Breaks
December 11, 2012
10:00 EDTBCRX, FWLT, ARW, AWR, HSP, EPR, XUE, LPL, CBLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Arrow Electronics (ARW) downgraded to Underperform from Outperform at CLSA... CBL & Associates (CBL) downgraded to Neutral from Buy at Goldman... Entertainment Properties (EPR) downgraded to Neutral from Buy at Goldman... Foster Wheeler (FWLT) downgraded to Neutral from Buy at Lazard Capital... Hospira (HSP) downgraded to Sell from Neutral at Goldman... LG Display (LPL) downgraded to Sell from Hold at Topeka... BioCryst (BCRX) downgraded to Hold from Buy at Noble Financial... Xueda Education (XUE) downgraded to Sell from Buy at Goldman... American States Water (AWR) downgraded to Neutral from Buy at Ladenburg.
News For ARW;CBL;EPR;FWLT;LPL;HSP;BCRX;XUE;AWR From The Last 14 Days
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April 1, 2015
11:22 EDTBCRXDyax jumps after HAE data, while analysts defend competitors Shire, BioCryst
The shares of drug maker Dyax (DYAX) are surging after the company last night reported data from a Phase 1b clinical trial of its DX-2930 drug, a treatment for hereditary angioedema, or HAE. The disease is a rare genetic disorder characterized by episodes of swelling in different areas of the skin or the internal organ. A number of analysts reacted to the news by significantly raising their price targets on Dyax's stock in notes to investors earlier today. WHAT'S NEW: Dyax last night reported that, in the study, the HAE attack rate of patients taking the 300 mg dose of its drug were 100% lower than those taking placebo. The HAE attack rate of patients taking the 400 mg dose of its drug were 88% lower than those taking placebo, Dyax added. ANALYST REACTION: Jefferies analyst Biren Amin raised his price target on Dyax to $31 from $18, saying that DX-2930 could become the next standard of care in HAE. Most investors would have been pleased if the company's drug had lowered attacks by 35%-50%, wrote the analyst, who kept a Buy rating on the shares. RBC Capital analyst Michael Yee also hiked his price target on the shares to $31 from $18, saying that the results were impressive and clearly showed proof of concept evidence that the company's drug can reduce or prevent nearly all HAE attacks. The drug has an 85% chance of succeeding, added Yee, who kept an Outperform rating on he shares, and believes that the stock could reach $35-$39 if everything goes well for Dyax. Oppenheimer analyst Akiva Felt hiked his price target on Dyax to $26 from $14.as he believes that the data represented a best-case scenario. Investors were anticipating a much smaller reduction in HAE attack rates and the drug has made a giant leap toward becoming the best-in-class prophylactic HAE treatment, added Felt, who kept an Outperform rating on the stock. WHAT'S NOTABLE: Dyax's DX-2930 competes with BioCryst's (BCRX) oral kallikrein inhibitor BCX4161 and shares of BioCryst could see additional weakness in the near-term following Dyax's report, JPMorgan wrote in a note to investors today. However, the firm thinks that BioCryst's stock can rise significantly heading into key catalysts in the second half of the year and kept an Overweight rating on the name. Similarly, research firm Susquehanna wrote that Dyax's positive results will threaten Shire's (SHPG) HAE franchise, though the firm thinks that Shire has multiple pipeline drugs that it can turn into additional high margin therapies. The firm continued to recommend buying Shire's stock. PRICE ACTION: In late morning trading, Dyax soared 48% to $24.80, while Shire lost 2% to $234 and BioCryst gained 4.5% to $9.44.
07:37 EDTBCRXBioCryst could be weak on Dyax data, says JPMorgan
JPMorgan believes shares of BioCryst (BCRX) could see additional weakness in the near-term after competitor Dyax (DYAX) reported better than expected Phase Ib results for its anti-kallikrein antibody for hereditary angioedema. The firm notes Dyax's DX-2930 competes with BioCryst's oral kallikrein inhibitor BCX4161. It views shares of BioCryst as "fairly washed out" at current levels given the weakness going into Dyax's data announcement, however, and sees potential for "meaningful upside" in the stock heading into key catalysts in the second half of 2015. JPMorgan thinks BioCryst is undervalued and keeps an Overweight rating on the name.
March 31, 2015
19:38 EDTBCRXOn The Fly: After Hours Movers
HIGHER: Dyax (DYAX), up 47.7% following positive results from Phase 1b clinical trial of DX-2930... Voltari (VLTC), up 93.1% after Carl Icahn reports 52.3% stake... Chesapeake Energy (CHK), up 1.6% after chairman Archie Dunham buys 1M shares of common stock. DOWN AFTER EARNINGS: Cytosorbents (CTSO), down 39.4%... UTi Worldwide (UTIW), down 11.8%... Real Goods Solar (RGSE), down 7%... SYNNEX (SNX), down 3.3%. ALSO LOWER: BioCryst Pharmaceuticals (BCRX), down 8.6% following positive results from Dyax Phase 1b clinical trial of DX-2930... Carpenter Technology (CRS), down 6.4% after targeting a $50M inventory reduction by end of fiscal 2015.
10:56 EDTARWArrow Electronics sees acquisition of immixGroup accretive by 10c-14c per share
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07:00 EDTBCRXBioCryst awarded $35M contract by BARDA for development of BCX4430
BioCryst Pharmaceuticals announced that the Biomedical Advanced Research and Development Authority, or BARDA, within the U.S. Department of Health and Human Services' Office of the Assistant Secretary for Preparedness and Response, or ASPR, has awarded BioCryst a contract for the continued development of BCX4430 as a potential treatment for diseases caused by RNA pathogens, including filoviruses. This ASPR/BARDA contract includes a base contract of $12.1M to support BCX4430 drug manufacturing, as well as $22.9M in additional development options that can be exercised by the Government, bringing the potential value of the contract to $35.0M. Filoviruses represent serious threats to national security and the U.S. Government has made this a top priority for medical countermeasure development.
06:07 EDTLPLSamsung, LG settle legal disputes, WSJ says
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March 30, 2015
11:32 EDTHSPHospira announces availability of INFLECTRA in Canada
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March 27, 2015
14:58 EDTCBLCBL & Associates management to meet with JPMorgan
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09:05 EDTHSPHospira presents two studies that evaluate proposed biosimilar, Epoetin Hospira
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March 26, 2015
05:58 EDTLPLApple expected to release 3 new iPhone models in 2H15, DigiTimes reports
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March 25, 2015
05:16 EDTXUEXueda Education announces updates on JV with Qihoo 360
Xueda Education Group (XUE) announced updates pertaining to its Joint Venture, or JV, Agreement with Qihoo 360 (QIHU). The Agreement formed a joint-venture company, Sunshine Rabbit Technology, in Beijing, on February 26, with registered capital of less than $5M for the principal business purpose of pursuing online education opportunities. Xueda's CEO and co-founder, Xin Jin, serves as chairman of the board for the joint venture. Junyi Li, a senior executive at Xueda, serves as CEO of the joint venture. Qihoo 360's co-founder and president, Xiangdong Qi, and senior vice president, Guangdong Yu, serve, together with others, as directors of the joint venture.
March 23, 2015
16:40 EDTAWRAmerican States Water coverage resumed with a Neutral at Janney Capital
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10:08 EDTCBLHigh option volume stocks
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09:03 EDTHSPPfenex announces early HSR clearance for collaboration with Hospira
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06:00 EDTLPLSharp's investment in Oxide TFT LCD display may face competition, DigiTimes says
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March 18, 2015
05:41 EDTXUEXueda Education CEO purchased about 10.95M share, 1M ADS
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