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Stock Market & Financial Investment News

News For BIIB;RHHBY;GSK From The Last 14 Days
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October 24, 2014
16:54 EDTBIIBMarket ends week higher as Apple leads list of earnings winners
Stocks ended the week higher as stronger than expected economic data and upbeat results from a number of companies lifted shares. MACRO NEWS: In the U.S., existing home sales for September and leading economic indicators for the month beat expectations, while weekly jobless claims were roughly in-line with expectations. Markit's “flash” manufacturing Purchasing Managers' Index for October came in at 56.2, versus the consensus forecast for a 57.0 reading... China reported that its GDP rose 7.3% in Q3, above the 7.2% growth expected by economists. HSBC's flash PMI inched up to 50.4 from a final reading of 50.2 in September, beating the consensus forecast for a 50.3 reading. The Asian country said that its industrial production jumped 8% versus the year earlier, easily beating the anticipated 7.5% increase... A euro zone purchasing managers' index increased to 52.2 in October from 52 in September. Most analysts had expected the index to decline modestly. COMPANY NEWS: Apple (AAPL), Microsoft (MSFT), Harley-Davidson (HOG), Yahoo (YHOO), Caterpillar (CAT), diversified manufacturer 3M (MMM) and chip maker Broadcom (BRCM) were among the companies that reported higher than expected profits. Conversely, the bottom lines of IBM (IBM), McDonald's (MCD), Verizon (VZ), AT&T (T), and Angie's List (ANGI) missed expectations... Shares of Amazon (AMZN) fell after the company reported weaker than expected results and provided lower than expected revenue guidance. At least two analysts downgraded the stock following its quarterly report, while a number of others cut their price targets on the shares... Boeing (BA) reported stronger than expected results and raised its full year core EPS guidance, but its stock fell as the airplane maker reduced its full year operating cash flow guidance... Pandora's (P) shares tumbled after the company's Q3 results beat expectations, but its total listener hours declined in Q3 versus Q2... Shares of drug maker Biogen Idec (BIIB) fell after the Q3 sales of its flagship multiple sclerosis treatment, Tecfidera, came in below expectations. Additionally, Biogen reported that one of the patients taking the drug had died after contracting a disease previously linked to MS treatments... BlackBerry (BBRY) rallied following renewed rumors that Chinese computer maker Lenovo (LNVGY) is looking to buy the smartphone maker... At home soda machine maker SodaStream (SODA) rallied after the company said that it would test making some of PepsiCo's (PEP) brands available on its machines. INDEXES: For the week, the Dow gained 2.58% to close at 16,805.41, the S&P 500 rose 4.12% to close at 1,964.58, and the Nasdaq advanced about 5.28% to close at 4,483.71.
13:31 EDTGSKEbola vaccine testing could begin in December, NY Times says
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12:03 EDTRHHBYRoche reports CHMP recommends label update for Esbriet
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09:16 EDTBIIBBiogen weakness creates buying opportunity, says Argus
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October 23, 2014
16:21 EDTGSKFive Prime announces expansion of respiratory disease research collaboration
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10:01 EDTGSKOn The Fly: Analyst Upgrade Summary
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06:25 EDTBIIBBiogen PML case expected to have minimal impact at Citigroup
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05:27 EDTGSKGlaxoSmithKline upgraded to Overweight from Equal Weight at Barclays
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October 22, 2014
16:33 EDTBIIBOn The Fly: Closing Wrap
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14:43 EDTGSKTheravance drops after partner announces restructuring, posts abstracts
Shares of Theravance, (THRX) a biopharmaceutical company that has economic ties to GlaxoSmithKline (GSK), are lower in afternoon trading after Glaxo reported restructuring plans. Additionally, Theravance disclosed last night that GSK is scheduled to present data from Phase 3 studies at an upcoming medical conference. CHEST 2014 in Austin, Texas, to be held from October 25-30. WHAT'S NEW: Earlier today, GlaxoSmithKline announced it intends to refocus its global pharmaceuticals business and cost base following the divestment of its oncology products and the changed dynamics now faced in the U.S. respiratory market. Theravance has strategic alliances with GlaxoSmithKline in respiratory products. Also, Theravance disclosed last night that Glaxo is scheduled to present data from Phase 3 studies at CHEST 2014, which is being held from October 25-30. Umeclidinium/Vilanterol, a once-daily combination treatment comprising two bronchodilators in Theravance's ELLIPTA inhaler, and Fluticasone Furoate/Vilanterol, a once-daily combination of a LABA and inhaled corticosteroid, have been developed under a collaboration pact between Glaxo and Theravance. Abstracts of the planned oral presentations can be found in the CHEST Journal, Theravance noted in its filing. PRICE ACTION: In afternoon trading, shares of Theravance fell 10.25% to $16.73.
13:38 EDTBIIBBiogen price target lowered to $386 from $420 at Piper Jaffray
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12:21 EDTBIIBBiogen upgraded to Outperform from Neutral at RW Baird
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12:09 EDTBIIBOn The Fly: Midday Wrap
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11:38 EDTBIIBBiogen retreats after Tecfidera sales miss, patient death reported
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11:01 EDTBIIBBiogen trading lower on slower growth, PML case, says Deutsche Bank
Deutsche Bank attributes the pullback in shares of Biogen (BIIB) to slower sequential revenue growth and the one PML case with Tecfidera disclosed on today's earnings call. Deutsche believes investors are now favoring Celgene (CELG) over Biogen due to near term headline risks. The firm says it likes Celgene more as well due its pipeline, but keeps a Buy rating on Biogen.
10:46 EDTBIIBBiogen shares defended at Morgan Stanley
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10:42 EDTBIIBBiogen shares defended at Deutsche Bank
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09:46 EDTBIIBBiogen falls, levels to watch
The shares are down sharply following Q3 results and a guidance boost for FY14, At the current price of $294.96, shares are lower by 9.8%. Support is at the session low at $290.94. Resistance is at $299.71.
09:21 EDTBIIB, GSKOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Dow Chemical (DOW), up 3.7%... iRobot (IRBT), up 12%... Six Flags (SIX), up 13%... GlaxoSmithKline (GSK), up 2%... Broadcom (BRCM), up 7%... Boston Scientific (BSX), up 4.3%... Abbott (ABT), up 1.8%... Yahoo! (YHOO), up 6%. ALSO HIGHER: Blue Earth (BBLU), up 26.4% after CEO says statements in Seeking Alpha blog are "false and misleading."... GW Pharmaceuticals (GWPH), up 5.4% after Epidiolex receives orphan designation from EMA. DOWN AFTER EARNINGS: 3D Systems (DDD), down 15%... Biogen (BIIB), down 7%... Lumber Liquidators (LL), down 13.4%... Norfolk Southern (NSC), down 3%... Angie's List (ANGI), down 8.8%. ALSO LOWER: Nanosphere (NSPH), down 33% after filing secondary, reporting preliminary Q3 revenue... Himax Technologies (HIMX), down 16% after announcing that Google (GOOG) will not exercise an additional investment option in the company... Cree (CREE), down 10.5%, downgraded at DA Davidson and Canaccord following the company's Q1 earnings results... Ocwen Financial (OCN), down 7% after downgraded to Hold at Evercore, downgraded to Neutral at BofA Merrill Lynch... VMware (VMW), down 7.8%, downgraded at Nomura and Raymond James following the company's Q3 results.
09:12 EDTBIIBBiogen down 6% after Q3 report, disclosure of patient death
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07:49 EDTGSKGlaxoSmithKline sees FY14 dividend to rise 3% to 80p, 2015 dividend flat
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07:48 EDTGSKGlaxoSmithKline announces restructuring program for pharmaceuticals business
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07:46 EDTGSKGlaxoSmithKline to explore IPO of minority shareholding in ViiV Healthcare
Glaxo announced "further significant steps" within its Pharmaceuticals business to realize value for shareholders and deliver improved operational performance. Glaxo stated: "Five years ago, we created ViiV Healthcare, a new standalone global business focused on development of treatments for HIV. This has been a highly innovative and successful venture with our equity partners Pfizer and Shionogi. The business has made very significant progress in both R&D and commercial execution, culminating in the recent successful launches of Tivicay and Triumeq. We believe now is the right time to explore the potential for an IPO of a minority shareholding in this business. This will provide greater visibility of the intrinsic value we see in its currently marketed assets and future pipeline and also enhance potential future strategic flexibility."
07:44 EDTGSKGlaxoSmithKline backs FY14 view for core EPS 'broadly similar' to FY13
GlaxoSmithKline (GSK) continues to expect full year 2014 core EPS to be broadly similar to 2013 at CER and on ex-divestment basis. Glaxo says its proposed 3-part transaction with Novartis (NVS) is on track for completion in 1H15.
07:42 EDTGSKGlaxoSmithKline reports Q3 core EPS 27.9p, up 5% CER ex-divestments
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07:08 EDTBIIBBiogen reports Q3 TECFIDERA revenues $787M
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07:03 EDTBIIBBiogen raises FY14 adjusted EPS view to $13.45-$13.55, consensus $13.10
Still sees revenue growth 38%-41% vs. 2013, consensus $9.69B. $&D expense is expected to be approximately 20% to 21% of total revenue.
07:02 EDTBIIBBiogen reports Q3 adjusted EPS $3.80, consensus $3.46
Reports Q3 revenue $2.51B, consensus $2.48B.
06:41 EDTGSKWHO fast-tracking testing of two Ebola vaccines, Guardian reports
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October 21, 2014
15:35 EDTBIIBNotable companies reporting before tomorrow's open
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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.
07:15 EDTRHHBYFDA to hold workshop on breast cancer drug development
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07:06 EDTGSKFierce Biotech to hold a breakfast meeting
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06:54 EDTBIIBBiogen October weekly volatility elevated into Q3 and outlook
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October 20, 2014
12:37 EDTRHHBYOn The Fly: Midday Wrap
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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).
07:32 EDTBIIBCubist names Perez CEO to succeed Bonney
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07:19 EDTGSK, RHHBYIBC Life Sciences to hold a conference
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07:11 EDTRHHBYAmerican Society for Reproductive Medicine to hold annual meeting
2014 Annual Meeting of ASRM is being held in Honolulu on October 18-22.
07:10 EDTRHHBYAmerican Society of Human Genetics to hold annual meeting
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07:06 EDTRHHBYNewLink announces worldwide license agreement for NLG919 development
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07:04 EDTRHHBYRoche approval would be positive for TESARO, says Jefferies
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October 17, 2014
14:50 EDTGSKBARDA asks labs to ramp up Zmapp production, Reuters says
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11:17 EDTGSKGSK says Ebola vaccine too late for current epidemic, BBC reports
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October 16, 2014
14:47 EDTRHHBYRoche in pact with Pharmacyclics to evaluate Imbruvica, Gazyva combo
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13:13 EDTRHHBYRoche considers submitting Ebola test for emergency use approval, WSJ says
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09:35 EDTRHHBYDiplomat announces contract to distribute Esbriet
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05:58 EDTRHHBYRoche sees FY14 core EPS targeted to grow ahead of sales
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05:56 EDTRHHBYRoche reports 9 month revenue CHF34.76B vs. CHF34.87B last year
Roche CEO Severin Schwan said: “Demand for our products is strong in both divisions and we are well on track to reach our full-year targets. We have had positive news from our product pipeline, including study results for Perjeta in breast cancer and a new combination therapy with Zelboraf in melanoma. The InterMune acquisition has also strengthened our portfolio with a new medicine, Esbriet for idiopathic pulmonary fibrosis, which has now been approved by the FDA. In Diagnostics, growth continues to be driven by the immunodiagnostics business and we have strengthened our molecular diagnostics portfolio with a new generation of testing systems.”
October 15, 2014
15:45 EDTRHHBYFDA approves Esbriet to treat idiopathic pulmonary fibrosis
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October 14, 2014
13:09 EDTGSKGlaxoSmithKline seeks binding bids for mature drugs, Reuters reports
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11:23 EDTBIIB, RHHBY, GSKBIND 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
07:12 EDTGSKOligonucleotide Therapeutics Society to hold annual meeting
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