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Stock Market & Financial Investment News

News Breaks
April 28, 2014
09:18 EDTAGEN, ETP, SUSS, POZN, HAE, OGXI, ATHX, GLW, YOKU, ABX, NEM, FRX, FURX, SOHU, BAC, PFE, AZNOn The Fly: Pre-market Movers
HIGHER: AstraZeneca (AZN), up 16% after Pfizer (PFE) confirms takeover offer made and turned down by company. Pfizer shares are also up 2.7% as the company says it is still interested in a potential AstraZeneca combination and is weighing its next steps... Furiex (FURX), up 31% after agreeing to be acquired by Forest labs (FRX) for $95 per share and contingent future payments... Susser (SUSS), up 37% after agreeing to be acquired by Energy Transfer Partners (ETP) for approx. $1.8B... Agenus (AGEN), up 10% after announcing collaboration and license agreement with Merck (MRK)... Yokou Toudou (YOKU), up 10% after announcing $1.22B investment led by Alibaba... Corning (GLW), up 2.7% after earnings report. DOWN AFTER EARNINGS: Sohu.com (SOHU), down 6.6%... Haemonetics (HAE), down 9.5%... ALSO LOWER: Bank of America (BAC), down 2.6% after suspending capital actions, including repurchase authorization... Newmont Mining (NEM), down 5.7% after terminating merger discussions with Barrick Gold (ABX)... Athersys (ATHX), down 56% after MultiStem therapy trial fails to show meaningful benefit... OncoGenex (OGXI), down 52% after Synergy did not meet primary endpoint in Phase 3 trial... POZEN (POZN), down 12% after drug candidates PA8140/PA32540 receive Complete Response Letter from FDA.
News For AZN;PFE;BAC;SOHU;FURX;FRX;NEM;ABX;YOKU;GLW;ATHX;OGXI;HAE;POZN;SUSS;ETP;AGEN From The Last 14 Days
Check below for free stories on AZN;PFE;BAC;SOHU;FURX;FRX;NEM;ABX;YOKU;GLW;ATHX;OGXI;HAE;POZN;SUSS;ETP;AGEN the last two weeks.
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July 16, 2014
09:30 EDTABXBarrick Gold CEO Jamie Sokalsky to step down in launch of new executive team
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09:27 EDTPFEPfizer to acquire InnoPharma for upfront cash payment of $225M
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08:51 EDTBACBank of America sees reserve releases to decline 'modestly' through rest of year
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08:47 EDTBACBofA now sees 'New BAC" cost savings of $2B to be achieved by Q4
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08:45 EDTBACBofA says balance sheet still positioned for NII benefit as rates move up
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08:36 EDTBACBofA says underlying trading business performed well despite lower volumes
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08:01 EDTAZNAlexion names former AstraZeneca CEO David Brennan to board
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07:59 EDTPFE, AZNTreasury Secretary urges Congress to take action on tax inversions
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07:31 EDTPOZNPOZEN announces FDA appectance of PA8140/PA32540 NDA refiling
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07:17 EDTBACBofA/Merrill to hold a roundtable
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07:13 EDTBACBank of America CEO says economy strengthening, customers doing more business
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07:11 EDTBACBank of America reports $21.16 book value per share at June 30
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07:08 EDTBACBofA reports Q2 provision for credit losses $411M, net charge-offs $1.1B
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07:05 EDTBACBofA sees Basel 3 common equity tier 1 ratio up to 9.5%
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07:04 EDTBACAIG to receive $650M in cash in Bank of America settlement
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07:04 EDTPFEPfizer says primary endpoint met in Phase 3 study of BeneFIX
Pfizer announced the positive results of a Phase 3 study comparing a prophylaxis regimen of BeneFIX Coagulation Factor IX 100 IU/kg once-weekly to on-demand treatment in people with moderately severe to severe hemophilia B. The top-line results of the study showed that the primary study endpoint was met and hemophilia B patients taking once-weekly BeneFIX showed a statistically significant reduction in the annualized bleeding rate relative to on-demand treatment with BeneFIX. In the study, the median ABR value, a commonly used measure of efficacy for prophylaxis regimens in hemophilia, was 2.0 for the prophylaxis regimen, compared to 33.6 for the on-demand regimen, representing a 94% decrease in bleeding rates. The mean ABR value was 3.6 for the prophylaxis period, compared to 32.9 for the on-demand treatment, which represents a reduction of 89%. Study results also showed that prophylaxis treatment significantly reduced both spontaneous and traumatic ABR compared to on-demand treatment with BeneFIX. In addition to meeting the primary endpoint, the secondary study endpoints showed that none of the 1,254 prophylaxis infusions administered during the study were associated with a less than expected therapeutic effect occurrence, which was defined as a spontaneous bleed occurring within 48 hours of a prophylaxis infusion. These results are preliminary, top-line data and are subject to additional analyses. Complete results from this study will be submitted for presentation at upcoming medical congresses and submitted for publication in a peer-reviewed journal.
07:02 EDTBACBank of America reports Q2 EPS ex-items 41c, consensus 29c
Reports Q2 revenue $21.75B, consensus $21.61B. Results include litigation expense of $4.0B pretax or approximately 22c per share after tax.
07:02 EDTBACAIG announces settlement with BofA on residential mortgage related disputes
American International Group (AIG) announced that it has reached a global resolution of its residential mortgage related disputes with Bank of America (BAC). The resolution includes its claims pending in New York and California federal courts related to the creation, offering, and sale of RMBS from which AIG and its subsidiaries suffered losses either directly on their own account or in connection with their participation in AIG’s securities lending program. The resolution also covers AIG’s objections to the $8.5 billion settlement of Countrywide’s mortgage repurchase obligations to various investors, as well as disputes concerning the issuance of mortgage guaranty insurance by AIG’s United Guaranty subsidiaries to Bank of America and Countrywide. Under the terms of the settlement, AIG will receive $650M in cash plus its pro rata share of whatever amount is ultimately paid out to investors in connection with the Countrywide repurchase settlement. In addition, the parties have agreed, subject to the approval of Fannie Mae, Freddie Mac and certain other mortgage holders, to resolve the outstanding mortgage guaranty claims disputes in accordance with agreed-to claims processes and payment formulae.
07:01 EDTBACAIG announces settlement with BofA on residential mortgage related disputes
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05:59 EDTSOHUSohu online game subsidiary Changyou to invest in MoboTap
Sohu.com (SOHU) announced that its online game subsidiary, Changyou.com (CYOU) and MoboTap, a Cayman Islands company that is the mobile technology developer behind the Dolphin Browser, have entered into a definitive investment agreement pursuant to which Changyou will purchase 51% of the equity interests in MoboTap on a fully-diluted basis, for cash consideration of $91M. In addition, Changyou will provide $30M in funding to MoboTap by purchasing a zero-coupon convertible bond due in five years. Changyou will have the option, exercisable at any time when the bond is outstanding, to convert all or any part of the unpaid principal into shares of MoboTap at a conversion price that would result in Changyou's equity interest in MoboTap increasing to 60% on a fully-diluted basis, measured as of the closing under the Investment Agreement, if the option is exercised in full. The transaction is expected to close in August.
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