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Stock Market & Financial Investment News

News Breaks
April 2, 2012
16:15 EDTGRPN, WG, THRX, GSK, YPF, KERX, 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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October 22, 2014
05:08 EDTWGWillbros Group to restate Q2 results
Willbros Group announced that it is refocusing its business strategy under the leadership of John T. McNabb, II, newly elected CEO, and a restructured management team. The company has identified approximately $22M-$24M in deterioration of a significant pipeline construction project in the company's Northeast regional business within the Oil & Gas segment. This deterioration consists of the reversal of approximately $8M in pre-tax income previously recognized and the recognition of approximately $14M-$16M in estimated pre-tax losses at project completion. Although some of the project deterioration related to Q3, the company has determined that a majority of these estimated charges should have been recognized in Q2. As a result, the company expects to restate its Q2 results and such results should no longer be relied upon. Additional information relating to the restatement is being disclosed in a Form 8-K being filed with the SEC. The company now expects to report operating income of approximately $26M-$28M for the nine months ended September 30, subject to the completion of its quarterly close procedures. In addition, management, with oversight from the company's Audit Committee, is evaluating any impact on its prior conclusions of the adequacy of internal control over financial reporting and disclosure controls and procedures. The company will amend, as necessary, any disclosures pertaining to its evaluation of such controls and procedures.
October 21, 2014
18:34 EDTWGWillbros Group names John McNabb as CEO
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17:25 EDTGRPNGroupon initiated with a Buy at Brean Capital
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11:04 EDTGSKGlaxoSmithKline receives orphan status for dabrafenib
The FDA granted GlaxoSmithKline orphan status for dabrafenib, its possible treatment of patients with BRAF mutation positive non-small cell lung cancer.
07:06 EDTGSKFierce Biotech to hold a breakfast meeting
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October 20, 2014
16:14 EDTGRPNGroupon updates IPhone app to include Apple Pay
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11:10 EDTKERXKeryx management to meet with Oppenheimer
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09:09 EDTGSKEMA encourages applications for orphan designation for Ebola treatments
The European Medicines Agency encourages developers of treatments or vaccines against Ebola to apply for orphan designation. Applications for orphan designation of Ebola medicines will be treated as a priority and EMA has committed to fast-tracking their evaluation, the regulator announced. Drug companies that are working on experimental Ebola vaccines and treatments include Tekmira (TKMR), Sarepta (SRPT), BioCryst (BCRX), Chimerix (CMRX), NewLink Genetics (NLNK) and GlaxoSmithKline (GSK).
07:19 EDTGSKIBC Life Sciences to hold a conference
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October 17, 2014
14:50 EDTGSKBARDA asks labs to ramp up Zmapp production, Reuters says
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14:41 EDTKERXKeryx down 4.4% to $15.31, Orange Book cited
Shares of Keryx are lower in afternoon trading after no NCE decision in the Orange Book was updated today, as pointed out by TheStreet's Adam Feuerstein earlier on Twitter.
11:17 EDTGSKGSK says Ebola vaccine too late for current epidemic, BBC reports
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05:25 EDTTHRXTheravance announces positive Anoro Ellipta study data published
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October 14, 2014
13:09 EDTGSKGlaxoSmithKline seeks binding bids for mature drugs, Reuters reports
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11:23 EDTGSKBIND Therapeutics and The Conference Forum hold a conference
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11:19 EDTGSKNIH says several potential Ebola treatments under development
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10:10 EDTGSKNIH director says supporting BioCryst, Chimerix Ebola treatments
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October 13, 2014
07:15 EDTAVPNational Association of Corporate Directors to hold a conference
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07:12 EDTGSKOligonucleotide Therapeutics Society to hold annual meeting
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06:07 EDTAVPStocks with implied volatility above IV index mean; AVP ACHN
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