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Stock Market & Financial Investment News

News Breaks
March 20, 2012
16:16 EDTNSRGY, MYGN, AZN, TRGT, TSL, STP, YGE, TIF, RIO, BHPOn The Fly: Closing Wrap
Stocks on Wall Street were lower on concerns of slowing growth in China. The futures barely reacted to February U.S. housing data, which showed starts were lower than expected but building permits were higher. The futures action led to a lower open for the broader market. The averages found a level in the first 30 minutes of trading where they sat and eventually began to drift higher. The market moved generally higher until the last hour of the session but the averages were never able to retake the baseline to continue their six day winning streak... ECONOMIC EVENTS: In the U.S., homebuilders began construction on a seasonally adjusted annual rate of 698,000 homes in February, down 1.1% from a month ago. Building permits jumped 5.1%, versus expectations for an increase of 0.6%. In China, a report said that home prices dropped in 45 Chinese cities last month and the country increased its gas and diesel prices for the second time in less than six weeks... MARKET NEWS: BHP Billiton (BHP) was widely quoted as stating that Chinese iron ore demand growth was "flattening," but the company came out and said that the slowdown had been discussed before and was not new information. Also, both BHP and rival Rio Tinto (RIO) confirmed plans to expand production in China even further. Still, BHP's confirmation along with other signals of a slowdown in China was attributed as a significant catalyst for today's market pull-back... Saudi Arabia said it is ready to meet any shortfalls in global oil supplies which, along with China's news, caused oil prices to fall 2%, weighing on the Energy sector of the S&P... Amazon.com (AMZN) moved up 3.67% following its $775M purchase of Kiva Systems, a maker of robots and other material handling technology... MAJOR MOVERS: Among the notable gainers was Tiffany (TIF), up $4.59, or 6.68%, to $73.27, after its earnings missed expectations but its FY12 guidance beat the Street's view. Also higher were a number of Chinese solar companies, including Yingli Green Energy (YGE), up 46c, or 12.07%, to $4.27, Suntech (STP), up 44c, or 14.06%, to $3.57, and Trina Solar (TSL), up 61c, or 7.85%, to $8.38, following the U.S. Commerce Department's decision to impose tariffs of less than 5% on the companies, which was well below the 20% to 30% that was forecast by some analysts. Noteworthy losers included Targacept (TRGT), down $2.22, or 29.96%, to $5.19, after it abandoned plans to seek approval for a depression drug it was developing in partnership with AstraZeneca (AZN), and Myriad Genetics (MYGN), down $1.33, or 5.19%, to $24.31, after the Supreme Court ruled that two patents held by Nestle (NSRGY) for certain personalized medicine products are invalid because the patents utilize "laws of nature" without adding significant additional features to those laws... INDICES: The Dow fell 68.94, or 0.52%, to 13,170.19; the Nasdaq lost 4.17, or 0.14%, to 3,074.15; and the S&P 500 dropped 4.23, or 0.30%, to 1,405.52.
News For BHP;RIO;TIF;YGE;STP;TSL;TRGT;AZN;MYGN;NSRGY From The Last 14 Days
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July 31, 2014
06:24 EDTAZNAstraZeneca offers 'no comment' on Pfizer, Reuters reports
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July 30, 2014
06:10 EDTAZNAstraZeneca enters respiratory disease transaction with Almirall
AstraZeneca announced that it has entered an agreement to transfer to the company the rights to Almirall’s respiratory franchise for an initial consideration of $875M on completion, and up to $1.22B in development, launch, and sales-related milestones. AstraZeneca has also agreed to make various sales-related payments. Upon completion of the transaction, AstraZeneca will own the rights for the development and commercialization of Almirall’s existing proprietary respiratory business, including rights to revenues from Almirall’s existing partnerships, as well as its pipeline of investigational novel therapies. The franchise includes Eklira, LAS40464, LAS100977 or abediterol, and multiple pre-clinical programs. Under the agreement, Almirall Sofotec, an Almirall subsidiary focused on the development of innovative proprietary devices, will also transfer to AstraZeneca. Almirall’s pipeline of respiratory assets and its device capabilities further strengthen AstraZeneca’s respiratory portfolio, which includes Symbicort and Pulmicort, as well as the company’s investigational medicines in development. The addition of aclidinium and the combination of aclidinium with formoterol, both in proprietary Genuair device, will allow AstraZeneca to offer patients a choice between dry powder inhaler and metered dose inhaler devices across a range of molecules and combinations. AstraZeneca and Almirall anticipate that, subject to local consultation and legislation, a significant number of employees dedicated to the respiratory business, including Almirall Sofotec employees, will transfer to AstraZeneca. The transaction is subject to certain competition law clearances as well as other customary terms and conditions. The companies anticipate the transaction will complete by the end of 2014.Reference Link
06:05 EDTRIORio Tinto to sell coal assets in Mozambique to ICVL for $50M
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July 29, 2014
09:34 EDTTSLTrina Solar says opposed to preliminary U.S. antidumping findings
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08:45 EDTTSL, YGEChinese solar stocks facing multiple headwinds, says Axiom
Axiom believes that there are "outsized risks" to the margins and consensus estimates of Trina Solar (TSL), Yingli Green Energy (YGE), and JA Solar (JASO). The firm says that the companies are facing higher raw material prices, lower cell and module prices, adverse tariff decisions in the U.S., and reduced solar subsidies in multiple countries. In conjunction with this note the firm downgraded its rating on JA Solar to Hold from Buy. It kept Sell ratings on Trina Solar and Yingli Green Energy.
July 28, 2014
16:36 EDTTRGTTargacept discontinues TC-5214 development for overactive bladder
Targacept announced top-line results from a Phase 2b clinical trial of TC-5214 as a treatment for overactive bladder. In the trial, the high dose of TC-5214 demonstrated mixed results on the co-primary endpoints by providing a statistically significant reduction in micturition frequency and an improvement that did not reach statistical significance on episodes of urinary incontinence per 24 hours, after 12 weeks of treatment. As a consequence of these results, Targacept is discontinuing further development of TC-5214 in OAB. In this trial, TC-5214 was considered generally safe and well tolerated. However, there was a placebo corrected 15.1% rate of constipation and a 5.9% rate of urinary tract infection in the high dose group.
16:30 EDTTRGTTargacept trading halted, pending news
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08:06 EDTYGEYingli Green Energy comments on tariff decision by Commerce Department
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05:36 EDTAZNQIAGEN, AstraZeneca announce collaboration
QIAGEN (QGEN) announced a collaboration agreement with AstraZeneca (AZN) for the co-development and commercialization of a liquid biopsy-based companion diagnostic to be paired with IRESSA, AstraZeneca's targeted therapy for non-small cell lung cancer, or NSCLC. The project builds on a master framework agreement signed by both companies in 2013 and aims to develop and market a novel QIAGEN companion diagnostic that analyzes plasma samples to assess EGFR mutation status in NSCLC patients. The assay will be designed to guide the treatment of NSCLC patients with Astra Zeneca's oral monotherapy anti-cancer treatment when tumor tissue is not available. QIAGEN already offers the therascreen EGFR RGQ PCR Kit as a tissue-based companion diagnostic for lung cancer patients, which was approved in the U.S. by the FDA in July 2013 and in China in May 2014. The companies will collaborate to create a new companion diagnostic for IRESSA based on liquid biopsy samples from NSCLC patients, rather than requiring invasive surgical collection of tissue samples. Data from several studies, including the IFUM Study presented at the "World Lung 2013" conference, provided evidence of the ability to assess the EGFR status of advanced lung cancer patients using blood / plasma samples. This breakthrough provides hope for patients for whom surgical biopsy is not an option by enabling them to have their EGFR mutation status assessed using a less invasive method.
July 27, 2014
20:10 EDTTSL, YGEU.S proposes penalties on certain Chinese solar-energy imports, Bloomberg says
The U.S Commerce Department proposed expanded penalties on some Chinese solar-energy imports, says Bloomberg. The agency said in a preliminary finding that Chinese manufacturers were unfairly selling goods in the U.S. at unfairly low prices, added Bloomberg. Reference Link
15:12 EDTNSRGY Hospira in talks to acquire Danone medical nutrition business, FT says
French consumer company Danone (DANOY) has been in negotiations to sell its medical nutrition business to Hospira (HSP) in a deal said to value the unit at $5B, says the Financial Times. The deal would also allow for U.S. based Hospira to domicile its tax base in Europe in a tax strategy known as an inversion, added the Financial Times. In prior reports, Nestle (NSRGY) and Fresenius (FMS) have also been mentioned as suitors for the Danone unit. Reference Link
July 24, 2014
06:16 EDTBHPBHP Billiton looks to ramp up iron ore output, WSJ reports
Despite declining prices, BHP Billiton is planning to continue to expand iron ore production, the Wall Street Journal reports. Reference Link
July 23, 2014
18:53 EDTBHPBHP Billiton, Anglo seek buyers for manganese assets, WSJ reports
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15:17 EDTBHPBHP Billiton, Anglo seek buyers for manganese assets, DJ says
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08:11 EDTYGEYingli Green Energy to supply PV modules to large project in Japan
Yingli Green Energy's (YGE) wholly-owned subsidiary, Yingli Green Energy Japan, has signed an agreement to supply 32 MWs of multicrystalline PV modules to a large-scale project located in Okayama, Japan. The company will deliver approximately 108K YGE 72 Cell Series modules for the project from January 2015 to December 2015. The project is financed by GE (GE) Energy Financial Services.
06:13 EDTRIORio Tinto says Chinese demand for iron ore 'strong,' Daily Telegraph says
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July 22, 2014
08:16 EDTYGEYingli Green Energy opens third Latin American office in Chile
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05:25 EDTAZNAdams Express, MedImmune announce clinical trial partnership
Advaxis (ADXS) has entered into a clinical trial collaboration with MedImmune, the global biologics research and development arm of AstraZeneca (AZN). The Phase I/II immunotherapy study will evaluate the safety and efficacy of MedImmune's investigational anti-PD-L1 immune checkpoint inhibitor, MEDI4736, in combination with Advaxis' lead cancer immunotherapy vaccine, ADXS-HPV, as a treatment for patients with advanced, recurrent or refractory human papillomavirus, or HPV,-associated cervical cancer and HPV-associated head and neck cancer. Both MEDI4736 and ADXS-HPV are cancer immunotherapies, a new class of treatments that use the body's own immune system to help fight cancer. Under the terms of the agreement, MedImmune and Advaxis will evaluate the combination as a treatment for HPV-associated cervical cancer and squamous cell carcinoma of the head and neck. The Phase I part of the trial is expected to establish a recommended dose regimen of MEDI4736 with ADXS-HPV, and the Phase II portion will assess the safety and efficacy of the combination. The study will be funded and conducted by Advaxis. Results from the study will be used to determine whether further clinical development of this combination is warranted. Under the terms of the deal, MedImmune has a non-exclusive relationship with respect to HPV-driven tumour types. MedImmune has first right of negotiation for future development of combinations involving MEDI4736 and ADXS-HPV.
July 21, 2014
09:01 EDTTIFTiffany names Frederic Cumenal as CEO, effective April 1, 2015
09:01 EDTTIFTiffany CEO Michael Kowalski to retire, effective March 31, 2015
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