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Stock Market & Financial Investment News

News Breaks
January 22, 2013
10:00 EDTMTRX, NXY, VIP, APKT, STT, BMRN, MHK, RIMM, BKYF, WCC, PCP, ASML, VIAB, GDPOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ASML (ASML) upgraded to Buy from Hold at ABN Amro... ASML (ASML) upgraded to Hold from Sell at Deutsche Bank... Bank of Kentucky (BKYF) upgraded to Outperform from Neutral at RW Baird... Goodrich Petroleum (GDP) upgraded to Outperform from Market Perform at BMO Capital... Precision Castparts (PCP) upgraded to Buy from Neutral at UBS... Research in Motion (RIMM) upgraded to Outperform from Sector Perform at Scotia Capital... Viacom (VIAB) upgraded to Buy from Neutral at Goldman... VimpelCom (VIP) upgraded to Overweight from Neutral at HSBC... WESCO (WCC) upgraded to Outperform from Neutral at Credit Suisse... Mohawk (MHK) upgraded to Outperform from Sector Perform at RBC Capital... State Street (STT) upgraded to Neutral from Underweight at JPMorgan... Nexen (NXY) upgraded to Hold from Sell at Canaccord... BioMarin (BMRN) upgraded to Buy from Hold at Stifel Nicolaus... Acme Packet (APKT) upgraded to Outperform from Market Perform at Northland Securities... Matrix Service (MTRX) upgraded to Overweight from Equal Weight at Stephens.
News For ASML;BKYF;GDP;PCP;RIMM;VIAB;WCC;VIP;MHK;STT;NXY;BMRN;APKT;MTRX From The Last 14 Days
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August 24, 2015
07:02 EDTBMRNMedivation to acquire worldwide rights to Talazoparib from BioMarin
Medivation (MDVN) and BioMarin Pharmaceutical (BMRN) have entered into an asset purchase agreement under which Medivation will acquire all worldwide rights to talazoparib, a highly-potent, orally-available poly ADP ribose polymerase inhibitor currently in a Phase 3 study for the treatment of patients with deleterious germline BRCA 1 or BRCA 2 mutations and locally advanced and/or metastatic breast cancer. Under the agreement, Medivation will be responsible for all research, development, regulatory and commercialization activities for all indications on a global basis. Under the terms of the agreement, Medivation will pay BioMarin $410 million upfront, up to an additional $160 million upon the achievement of regulatory and sales-based milestones and mid-single digit royalties for talazoparib. At the closing of the transaction, Medivation will assume all financial obligations associated with the development and commercialization of talazoparib. The closing of the transaction is conditioned on the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. The transaction is anticipated to close in 2015.
August 23, 2015
16:22 EDTVIAB'Straight Outta Compton' finds little contention for No. 1 box office spot
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August 21, 2015
13:11 EDTVIABFly Watch: 'Straight Outta Compton' eyes second weekend at top spot
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09:38 EDTBMRNUBS global healthcare analysts hold an analyst/industry conference call
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06:23 EDTBMRNUBS sees 'meaningful' upside to BioMarin on positive Hemophilia data
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August 20, 2015
06:36 EDTVIABBernstein cuts Disney, Time Warner with TV entering 'structural decline'
Bernstein analyst Todd Juenger downgraded his rating on both Disney (DIS) and Time Warner (TWX) saying the U.S. television industry is entering a period of "prolonged structural decline." With viewers moving away from ad-supported platforms to non-ad-supported, media companies with the least exposure to U.S. advertising represent the most favorable investments, Juenger tells investors in a 48-page research note on the Media sector. The analyst moved both companies to a Market Perform rating from Outperform, and lowered his price target for Disney to $114 from $125 and for Time Warner to $90 from $101. He called the downgrade of Time Warner a "very close call" as his new price target still represents 15% upside from current levels. Share performance in the entire Media sector will be challenged until the content owners take steps to "reclaim on-demand viewing" from streaming services like Netflix (NFLX) and use it to protect affiliate fees, Juenger argues. His Outperform-rated names are Nielsen (NLSN) and 21st Century Fox (FOXA). Along with Time Warner and Disney, the analyst has Market Perform ratings on AMC Networks (AMCX), CBS (CBS), Scripps Networks (SNI) and Discovery (DISCA). Juenger has an Underperform rating on Viacom (VIAB). Wells Fargo on Tuesday also downgraded Disney to Market Perform. Piper Jaffray this morning told investors that the recent pullback in shares of AMC Networks brings a "great" entry point into the name.
August 19, 2015
17:33 EDTGDPGoodrich Petroleum CFO Jan Schott to resign
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16:06 EDTBMRNBioMarin receives rare pediatric disease designation from FDA for drisapersen
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10:35 EDTMHKMohawk management to meet with SunTrust
Meetings to be held in New York August 26-27 hosted by SunTrust.
09:50 EDTPCPPrecision Castparts downgraded to Neutral from Buy at Citi
Citi last night downgraded Precision Castparts (PCP) to Neutral saying it does not see another potential buyer emerging to compete with Berkshire Hathaway (BRK.A). Berkshire's offer is likely a "good enough" outcome for Precision Castparts, CIti stated. It lowered its price target for shares to $235 from $246.
09:17 EDTBMRN'Female Viagra' approval seen as positive for Sarepta, BioMarin
The FDA's approval of the world's first drug designed to boost a woman's sexual desire is seen as boding well for companies awaiting critical decisions by the agency. FEMALE VIAGRA: The Food and Drug Administration yesterday approved flibanserin to treat acquired, generalized hypoactive sexual desire disorder in premenopausal women. The drug, which will be sold under the name "Addyi" and is commonly referred to as the "female Viagra," is the first FDA-approved treatment for sexual desire disorders in men or women, the agency prominently stated in its press release. HSDD is characterized by low sexual desire that causes marked distress or interpersonal difficulty and is not due to a co-existing medical or psychiatric condition, problems within the relationship, or the effects of a medication or other drug substance, the FDA explained. Addyi was approved with a risk evaluation and mitigation strategy as well as a Boxed Warning given the risk of severe hypotension and syncope in patients who drink alcohol during treatment. The drug is made by privately held Sprout Pharmaceuticals. ANALYST REACTION: Addyi's approval is "another sign of flexibility" by the FDA, especially for first-in-class therapies, Roth Capital analyst Debjit Chattopadhyay writes this morning in a note to investors. This bodes well for the approval of eteplirsen, drisapersen and Translarna, the analyst contends. Eteplirsen, designed by Sarepta Therapeutics (SRPT), and drisapersen, designed by BioMarin (BMRN), are experimental drugs being developed to treat Duchenne muscular dystrophy. Translarna, designed by PTC Therapeutics (PTCT), is already being sold in Europe as a treatment for DMD and is awaiting approval from the FDA. Duchenne muscular dystrophy is a form of muscular dystrophy affecting around 1 in 3,600 boys, which results in muscle degeneration and premature death. SAVING LIVES: While female sexual dysfunction is a clinical problem, eteplirsen is designed to save lives, Chattopadhyay points out. He has a Buy rating on Sarepta and noted his price target of $45 assumes accelerated approval for eteplirsen in the first quarter of 2016. Shares of the Massachusetts-based biopharmaceutical company closed yesterday at $35.69.
08:29 EDTBMRNFlibanserin approval bodes well for Sarepta, others, says Roth Capital
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August 18, 2015
10:19 EDTPCPOptions with increasing implied volatility
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10:17 EDTVIABDisney downgraded as Wells moves away from content providers
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10:00 EDTPCPOn The Fly: Analyst Downgrade Summary
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06:12 EDTPCPPrecision Castparts downgraded to Neutral from Buy at UBS
UBS analyst David Strauss downgraded Precision Castparts (PCP) to Neutral saying a higher competing takeover bid to Berkshire Hathaway's (BRK.A) is unlikely to emerge. The analyst lowered his price target for Precision Castparts to $235 from $244.
August 17, 2015
10:55 EDTPCPOptions with increasing implied volatility
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07:46 EDTGDPEnerCom to hold a conference
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August 16, 2015
16:59 EDTVIAB'Straight Outta Compton' sidesteps rivals in $56.1M weekend debut
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13:20 EDTPCPBerkshire Hathaway could see boost from Castparts deal, Barron's says
Berkshire Hathaway's (BRK.A, BRK.B) agreement to acquire Precision Castparts (PCP) looks like a "good -- not great" deal for Berkshire and could yield attractive returns for the company, Barron's contends in its 'Follow Up' column. Reference Link
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