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Stock Market & Financial Investment News

News Breaks
March 20, 2012
16:16 EDTAZN, STP, NSRGY, TRGT, YGE, MYGN, TSL, RIO, BHP, TIFOn 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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November 19, 2014
07:11 EDTAZNSanofi drawing up list of CEO candidates to repalce Viehbacher, Reuters reports
Sanofi's (SNY) board is in the process of drawing up a short list of CEO candidates to replace Chris Viehbacher, sources tell Reuters. Jean-Rene Fourtou, a Sanofi director and the honorary chairman of media group Vivendi (VIVHY), has been selected to lead the appointments and governance committee that will select the next CEO. Smith & Nephew (SNN) CEO Olivier Bohuon, AstraZeneca (AZN) CEO Pascal Soriot and former Wyeth CEO Bernard Poussot have been rumored to be potential contenders for the CEO position. Reference Link
07:08 EDTMYGNCrescendo data shows Vectra DA is better predictor of joint damage in RA
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06:36 EDTAZNClovis rociletinib data 'good news/bad news,' says Mizuho
Mizuho analyst Peter Lawson says his initial read of the new rociletinib data is "good news/bad news," which leaves his price target for Clovis unchanged. Lawson pegs the bad news as the drug losing its progression-free survival lead since the estimated PFS dropped from 12 months to 10.4 months, essentially in-line with AstraZeneca's (AZN) competing drug AZD9291. Lawson sees the good news as the "encouraging" PFS of 7.5 months in T790M-negative patients. He keeps a Buy rating on Clovis with a $100 price target.
06:16 EDTTSLTrina Solar signs 10MW turnkey solutions agreement with Jordan's Shamsuna Power
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November 18, 2014
14:59 EDTAZNRanbaxy sues FDA for rescinding approval of Nexium, Valcyte copies, Reuters says
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13:28 EDTBHP, RIOIron ore, steel stocks lower after iron ore prices, China home prices decline
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10:15 EDTTSLTrina Solar could be worth $1.1B-$1.2B for pe buyer, AsianSweeper says
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07:29 EDTAZNPfizer less likely to pursue AstraZeneca after PD-L1 deal, says JPMorgan
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07:18 EDTAZNWoodford confident in Astra, sees 50% chance of new Pfizer bid, Reuters reports
Investment manager Neil Woodford of Woodford Investment Management said he now has an even stronger belief in AstraZeneca (AZN), citing the company's strong product pipeline, and put the chances of a new takeover bid from Pfizer (PFE) at 50/50, reported Reuters, citing a statement from Woodford. Reference Link
06:39 EDTAZNAstraZeneca: 'Hard to comment' on whether Pfizer will come back, Reuters reports
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November 17, 2014
09:37 EDTAZNAstraZeneca to host investor day
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07:21 EDTNSRGYDanone mulls IPO for nutrition unit as sale talks disappoint, Reuters says
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07:16 EDTAZNMilken Institute--Faster Cures to hold a conference
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07:08 EDTAZNMedImmune presents positive Phase IIb data for mavrilimumab in RA
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07:07 EDTAZNMedImmune presents new data in systemic lupus
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06:43 EDTAZNAstraZeneca, Pfizer deal seen less likely after Merck transaction, Reuters says
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November 16, 2014
13:36 EDTAZNAstraZeneca presents data from studies of lesinurad combined with allopurinol
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November 14, 2014
14:53 EDTAZNCVS Express Scripts implementing drug price controls, says Cleveland Research
Cleveland Research believes that CVS (CVS) and Express scripts are implementing rebates and price controls on drug. The firm expects the companies to increase their focus on controlling durg prices next year, and adds that they have already itnroduced prior authorization criteria for hepatitis drug. Publicly traded drug companies include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY). Makers of hepatits c drugs include AbbVie (ABBV) and Gilead (GILD),
07:14 EDTMYGN, AZNAmerican College of Rheumatology is holding a meeting
2014 ACR/ARHP Annual Meeting is being held in Boston on November 14-19.
05:42 EDTNSRGYNestle to explore strategic options for development of Davigel
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