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News Breaks
June 25, 2014
09:11 EDTBKS, CVRR, OMI, AERI, GIS, PXD, MDCI, NSPH, MON, IMS, SQBG, GLNG, BMYOn The Fly: Pre-market Movers
HIGHER: Barnes & Noble (BKS), up 7.7% after board authorizes management to separate Retail, Nook Media units... Monsanto (MON), up 5% after reporting better than expected Q3 results, raising its full year EPS outlook to the upper end of its previous guidance range and announcing a new $10B share repurchase authorization... IMS Health (IMS), up 7.7% after acquiring certain Cegedim businesses for $520M... Nanosphere (NSPH), up 16.2% after receiving 510(k) clearance for bacterial portion of Verigene EP test... Aerie Pharmaceuticals (AERI), up 37% after its trial of Roclatan achieved its primary efficacy endpoint... Medical Action (MDCI), up 94% after Owens & Minor (OMI) acquires the company for $13.80 per share in cash... Sequential Brands (SQBG), up 15% after acquiring Galaxy Brand for $100M cash, 13.75M shares... Pioneer Natural (PXD), up 2.3% after media reports that the company got U.S. permission to ship a type of light oil known as condensate... Bristol-Myers Squibb (BMY), up 2% after a Phase 3 study of nivolumab was halted early due to superior data. LOWER: General Mills (GIS), down 3.7% after Q4 earnings fall below analyst's consensus... Lindsay Corp. (LNN), down 5% after earnings miss, saying Iraq contract now more difficult to complete... Golar LNG (GLNG), down 2% after 11M share offering priced at $54 per share... CVR Refining (CVRR), down 7% after 6M share secondary offering of common units price at $26.07.
News For BKS;MON;GIS;BMY;NSPH;AERI;GLNG;MDCI;OMI;SQBG;PXD;CVRR;IMS From The Last 14 Days
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February 26, 2015
09:01 EDTBKSBarnes & Noble to separate College business from Retail and NOOK businesses
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08:35 EDTBMYBristol-Myers says BMS-966176 Phase IIa study met primary endpoint
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February 25, 2015
09:09 EDTGLNGGolar LNG valuation overly discounts the worst, says Morgan Stanley
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08:36 EDTBMYBristol-Myers announces data from Phase IIb BMS-663068 trial
Bristol-Myers Squibb Company announced data from a Phase IIb trial of investigational compound BMS-663068, designed as an HIV-1 attachment inhibitor, in treatment-experienced HIV-1 patients. In the study, which compared BMS-663068 to a pharmacoenhanced protease inhibitor, virologic response rates and immunologic reconstitution were similar across the BMS-663068 and Reyataz/ritonavir arms of the trial through 48 weeks. Specifically, 61-82% of BMS-663068 patients had HIV-1 RNA levels <50 c/mL, compared to 71% of Reyataz/ritonavir patients at week 48. HIV-1 RNA levels <50 c/mL typically indicate virus replication is undetectable. Treatment with BMS-663068 resulted in no dose response safety signals, no treatment discontinuations related to adverse events, and no treatment-related serious adverse events over the course of the trial. The most common AEs were headache and abdominal pain. Due to the positive results seen thus far, a Phase III clinical trial of the attachment inhibitor among heavily treatment-experienced patients began on Monday, February 23, 2015. For the purposes of the Phase III trial, heavily treatment-experienced patients are defined as individuals who can no longer formulate a viable regimen due to accumulation of drug resistance, past intolerabilities or antiretroviral contraindications. The Phase IIb study results, presented yesterday at the 22nd Conference on Retroviruses and Opportunistic Infections, highlight the novel mechanism of action of the investigational prodrug BMS-663068, which when converted into its active moiety BMS-626529, is designed to bind directly to the HIV gp120 protein, and prevents initial viral attachment to the host CD4+ T cell and entry into the host immune cell.
08:03 EDTSQBGSequential Brands backs FY15 revenue view $61M-$64M , consensus $62.58M
Reiterates FY15 adjusted EBITDA view of $38M-$40M. The company's contractual guaranteed minimum royalties for 2015 are approximately $45M.
08:02 EDTSQBGSequential Brands reports Q4 EPS 11c, consensus 12c
Reports Q4 revenue $18.6M, consensus $17.17M.
February 24, 2015
20:13 EDTGLNGGolar LNG reports Q4 revenue $32.6M, consensus $28.83M
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20:10 EDTGLNGGolar LNG maintains Q4 dividend at 45c per share
Coinciding with a chartering market that is expected to be weak for the next 9-12 months, Golar has embarked on a period of rapid growth linked to the new investments in the floating LNG liquefaction business. The board continues to maintain the position that a regular and stable to growing dividend is a key part of the return to shareholders. With respect to Q4, the board has decided to maintain the dividend at 45c per share. The company does not expect further material growth in the dividend ahead of an upturn in the shipping market or until the floating LNG liquefaction units become free cash generative. The record date for the dividend will be March 12, ex-dividend date is March 10 and the dividend will be paid on or about March 24.
20:10 EDTGLNGGolar LNG sees 'weak' Q1 operating results driven by weak shipping market
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20:10 EDTGLNGGolar LNG expects weak market for chartering LNG shipping in first half 2015
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13:03 EDTPXDPioneer Natural shares recommended at Credit Suisse
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07:46 EDTBMYJacobs Engineering awarded contract from Bristol-Myers
Jacobs Engineering Group (JEC) announced that it received a contract from Bristol-Myers Squibb Company (BMY) to provide architectural and engineering services for a new large-scale biologics manufacturing facility in Cruiserath, County Dublin, Ireland. The facility is being designed to produce multiple therapies for the company’s robust and growing portfolio of approved and investigational biologic medicines, and to increase Bristol-Myers Squibb’s biologics manufacturing capacity. The new facility is expected to include multiple large scale bioreactors, a purification area, as well as office and laboratory space. Bristol-Myers Squibb’s Board of Directors has approved initial funding that will support the first phase of the project, with the full cost of the facility expected to be finalized in the second half of 2015. The facility is estimated to be operational in 2019.
07:31 EDTAERIRBC Capital to hold a conference
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February 23, 2015
12:21 EDTBMYOn The Fly: Midday Wrap
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09:59 EDTIMSOn The Fly: Analyst Upgrade Summary
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08:15 EDTBMYRigel Pharmaceuticals and Bristol-Myers announces R&D collaboration agreement
Rigel Pharmaceuticals (RIGL) and Bristol-Myers (BMY) announced that they have entered into a collaboration agreement for the discovery, development and commercialization of cancer immunotherapies based on Rigel's extensive portfolio of small molecule TGF beta receptor kinase inhibitors. TGF beta can promote tumor growth, broadly suppress the immune system and increase the ability of tumors to spread in the body. The collaboration will focus on developing a new class of therapeutics aimed at increasing the immune system's activity against various cancers either as monotherapy or in combination with immune checkpoint inhibitors, including Bristol-Myers Squibb's Opdivo and Yervoy. Under the terms of the agreement, Bristol-Myers Squibb will obtain exclusive, worldwide rights to develop and commercialize small molecule therapeutics derived from Rigel's TGF beta library, including, but not limited to, those approved to treat cancer. Bristol-Myers Squibb will pay $30M upfront and Rigel will be eligible to receive development and regulatory milestones that could total more than $309M for a successful compound approved in multiple indications. Rigel will also be eligible to receive tiered royalties on the net sales of any products from the collaboration.
08:06 EDTBMYBristol-Myers, Rigel enter R&D agreement for TGF beta receptor kinase inhibitors
Rigel Pharmaceuticals (RIGL) and Bristol-Myers Squibb (BMY) announced that they have entered into a collaboration agreement for the discovery, development and commercialization of cancer immunotherapies based on Rigel’s extensive portfolio of small molecule TGF beta receptor kinase inhibitors. TGF beta can promote tumor growth, broadly suppress the immune system and increase the ability of tumors to spread in the body. The collaboration will focus on developing a new class of therapeutics aimed at increasing the immune system’s activity against various cancers either as monotherapy or in combination with immune checkpoint inhibitors, including Bristol-Myers Squibb’s Opdivo, or nivolumab, and Yervoy, or ipilimumab. Under the terms of the agreement, Bristol-Myers Squibb will obtain exclusive, worldwide rights to develop and commercialize small molecule therapeutics derived from Rigel’s TGF beta library, including, but not limited to, those approved to treat cancer. Bristol-Myers Squibb will pay $30M upfront and Rigel will be eligible to receive development and regulatory milestones that could total more than $309M for a successful compound approved in multiple indications. Rigel will also be eligible to receive tiered royalties on the net sales of any products from the collaboration.
08:01 EDTBMYBristol-Myers to acquire Flexus, potential total consideration may be $1.25B
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05:43 EDTIMSIMS Health upgraded to Overweight from Equal Weight at Barclays
Barclays upgraded IMS Health to Overweight citing improving fundamentals and its positive view of the Cegedim deal. The firm raised its price target for shares to $30 from $27.
February 20, 2015
07:23 EDTBMYAbbVie replaces Pfizer as top global pharma pick at Jefferies
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