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Stock Market & Financial Investment News

News Breaks
April 2, 2012
16:15 EDTYPF, WG, GSK, GRPN, KERX, THRX, AVPOn The Fly: Closing Wrap
Stocks on Wall Street were higher after manufacturing reports in the U.S. and China indicated expansion. Stock futures traded below fair value for most of the pre-market trading session leading to a lower open for the broader market. The weakness was attributed to a high unemployment reading and a lackluster PMI report out of Europe. The market reversed its course and moved into positive territory following the slightly better than expected ISM manufacturing report here in the U.S. Once in positive territory the market moved quickly, but its advance stalled at a resistance level for the S&P. The move broadened out with the Nasdaq ending the day as the leading major index... ECONOMIC EVENTS: Domestically, the ISM manufacturing reading of 53.4 exceeded expectations for a 53.0 reading. Construction spending in February was down 1.1%, versus the expected increase of 0.6%. Internationally, an official reading of China's PMI rose to 53.1 while Markit's Eurozone manufacturing PMI fell to 47.7... MARKET NEWS: Avon Products (AVP) rejected the increased bid of $23.25 per share from fragrance-maker Coty. Avon shares rose $3.34, or 17.25%, to $22.70 following the announcement of the sweetened offer though Coty said it will not go hostile with its buyout plan... Groupon (GRPN) shares slid almost 17%, to $15.27, after the company announced weakness in its internal controls and revised its Q4 results lower... MAJOR MOVERS: Among the notable gainers were Willbros Group (WG), up 69c, or 21.30%, to $3.93, after its Q4 revenues beat expectations, and Theravance (THRX), up $3.79, or 19.44%, to $23.29, after GlaxoSmithKline (GSK) moved to raise its stake in the company to 26.8% with the purchase of 10M shares. Noteworthy losers included YPF SA (YPF), down $4.40, or 15.49%, to $24.01, following a downgrade at Merrill Lynch and a report that Argentina's government will take control of the company, and Keryx Biopharmaceuticals (KERX), down $3.24, or 65.06%, to $1.74, after the company announced that a trial for its lead drug missed its primary endpoint... INDICES: The Dow gained 52.45, or 0.40%, to 13,264.49; the Nasdaq added 28.13, or 0.91%, to 3,119.70; and the S&P 500 rose 10.43, or 0.74%, to 1,418.90.
News For AVP;GRPN;WG;THRX;GSK;YPF;KERX From The Last 14 Days
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April 20, 2015
08:33 EDTGRPNGroupon board approves new $300M share repurchase program
Groupon announced its Board of Directors has approved a new $300M share repurchase program, subject to the closing of the TMON sale. The authorization includes the flexibility for accelerated repurchases and purchases over time in the open market in accordance with our current practice. The new plan is expected to commence with the closing of the TMON sale and will run through August of 2017. Groupon expects to continue repurchases under its existing $300M share repurchase program approved in 2013. That program had $83M of authorized repurchases remaining as of March 31, 2015, and is set to expire in August of 2015. Share repurchases are subject to market conditions and other factors.
08:33 EDTGRPNGroupon agees to sell 46% stake in Ticket Monster to KKR for $360M
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07:20 EDTGSKAmerican Association for Cancer Research to hold annual meeting
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07:01 EDTGSKPernix Therapeutics obtains six months U.S. pediatric exclusivity for Treximet
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April 17, 2015
16:31 EDTAVPStocks end week lower amid earnings reports, fear about Greece, China
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April 16, 2015
09:14 EDTGSKAdamis says albuterol HFA product study met clinical FEV1 primary endpoint
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08:15 EDTGSK, THRXGlaxoSmithKline and Theravance announce launch of Anoro in Spain
In a regulatory filing, GlaxoSmithKline (GSK) and Theravance (THRX) announced the launch of Anoro in Spain following the approval in Europe in May 2014. Anoro Ellipta is indicated as a once-daily maintenance bronchodilator treatment to relieve symptoms in adult patients with chronic obstructive pulmonary disease. Anoro Ellipta is a combination of two bronchodilators, umeclidinium, a long-acting muscarinic antagonist and vilanterol, a long-acting beta2 agonist, in a single dry powder inhaler, the Ellipta. The approved dose of UMEC/VI is 55/22mcg. UMEC/VI has been developed under the 2002 LABA collaboration agreement between Glaxo Group Limited and Theravance.
April 15, 2015
12:33 EDTAVPStocks with call strike movement; ZIOP AVP
Ziopharm (ZIOP) October 14 call option implied volatility increased 8% to 97, Avon Products (AVP) July 11 call option implied volatility decreased 2% to 57 according to IVolatility.
11:53 EDTGSKGlaxoSmithKline initiated with a Sell at Societe Generale
05:48 EDTAVPStocks with implied volatility movement; WUBA AVP
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April 14, 2015
16:53 EDTAVPOn The Fly: Top stock stories for Tuesday
Stocks on Wall Street were mixed for the day, beginning the session in positive territory helped by better than expected earnings reports from JPMorgan (JPM), Johnson & Johnson (JNJ), and Wells Fargo (WFC). The early economic data was slightly below Wall Street expectations and became a headwind for the market. By the end of the first hour of trading the market had turned negative, and it spent the remainder of the day trading in mixed fashion. ECONOMIC EVENTS: In the U.S., retail purchases for March advanced 0.9%, bouncing up from a 0.5% decline in February. However, economists had predicted a 1.1% growth after improvements on last month's weather. The producer price index grew 0.2% for March, in line with consensus estimates. Core PPI grew 0.2% versus expectations of 0.1% growth. The International Monetary Fund's World Economic Outlook Report trimmed U.S. growth forecast to 3.1% from its previous outlook of 3.6%, while global forecast was left unchanged at 3.5%. COMPANY NEWS: Avon (AVP) surged 66c, or 8.24%, to $8.67 following a Wall Street Journal report that the company is exploring strategic alternatives, including potentially selling its North American business, though a Bloomberg report later in the day claimed the company is not conducting a formal sale process... Nokia (NOK) confirmed it is in "advanced discussions" to buy French telecom firm Alcatel-Lucent (ALU), prompting French President Francois Hollande to schedule meetings with leaders from both companies. Later in the day, the French government announced it supports the potential deal, with French Economy Minister Emmanuel Macron stating Nokia reassured officials by detailing "clear undertakings." Nokia fell 34c, or 4.1%, to $7.96 at the close, while Alcatel jumped 58c, or 13.33%, to $4.93. MAJOR MOVERS: Among the notable gainers was 58.com (WUBA), which rallied 33.52%, or $17.04, to $67.87 after the Financial Times reported the company has signed a memorandum of understanding to merge with rival classifieds service Ganji.com. Also higher was PartnerRe (PRE), which advanced 8.49% to $129.25 after EXOR proposed to acquire the company for $130.00 per share in cash, valuing PartnerRe at $6.4B. Following earnings, JPMorgan (JPM) advanced 1.56% to $63.04 after beating expectations, while Wells Fargo (WFC) fell 0.73% and Johnson & Johnson fell 0.03% after reducing its FY15 earnings guidance. Among the noteworthy losers was Arrowhead Research (ARWR), which tumbled 7.75% after Jefferies downgraded the stock to Hold and lowered its price target to $9 from $30. The firm said that while ARC-520 offers the potential for a Hepatitis B virus functional cure, it prefers to wait for multi-dosing data. Also lower was Norfolk Southern (NSC), which dropped 4.18% to $100.49 and was downgraded to Hold at TD Securities following first quarter guidance that fell below expectations. INDEXES: The Dow rose 59.66, or 0.33%, to 18,036.70, the Nasdaq lost 10.96, or 0.22%%, to 4,977.29, and the S&P 500 advanced 3.41, or 0.16%, to 2,095.84.
14:45 EDTAVPAvon said not to be conducting formal sale process, Bloomberg says
12:59 EDTAVPAvon Products reviewing strategic options, WSJ reports
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12:59 EDTAVPAvon Products volatility elevated into exploring strategic alternatives report
Avon Products overall option implied volatility of 59 compares to its 26-week average of 55 according to Track Data, suggesting large price movement into a WSJ reported the company is exploring strategic alternatives.
12:55 EDTAVPAvon Products resumes trading, shares up 74c to $8.75
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12:55 EDTAVPAvon Products halted for volatility after jumping on WSJ report
Shares of Avon Products halted for volatility after the Wall Street Journal reported the company is exploring strategic alternatives, including a possible sale of its North America business. The stock jumped 69c to $8.70.
12:52 EDTAVPAvon Products reviewing strategic alternatives, Dow Jones says
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10:00 EDTGRPNGroupon core business still key to valuation, says Piper Jaffray
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07:00 EDTGRPNKKR investor consortium close to deal to buy stake in Ticket Monster, WSJ says
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April 13, 2015
17:17 EDTAVPAvon Products postpones Investor Day to fall 2015
Avon Products announced that it has decided to postpone to Fall 2015 its Investor Day that the company was originally scheduled to host on May 13. The decision to postpone the meeting follows the recent appointment of James Scully as the company's CFO, to allow the company adequate time to prepare for a more robust discussion at the meeting. Further details, including webcast information, will be announced closer to the event. Avon will provide an update on its turnaround progress when it reports first-quarter 2015 financial results on April 30.
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