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Stock Market & Financial Investment News

News Breaks
August 25, 2014
09:11 EDTMRK, X, RGDO, THI, ADXS, TRP, RHHBY, BKW, QIHU, INSY, ITMNOn The Fly: Pre-market Movers
HIGHER: Burger King (BKW), up 13% after confirming talks regarding a potential strategic transaction with Tim Hortons (THI). Shares of the Canadian donut shop operator trading in New York are also up 17%... InterMune (ITMN), up 36% after Roche (RHHBY) agreed to acquire the company for $74.00 per share... Advaxis (ADXS), up 4% after entering clinical trial collaboration agreement with Merck (MRK)... Insys Therapeutics (INSY), up 5.5% after receiving FDA orphan drug designation for CBD... TransCanada (TRP), up 2.2% after Barron's says the company could climb 35%... U.S. Steel (X), up 3.7% after upgraded at Credit Suisse. LOWER: Regado (RGDO), down 52% after the company terminated enrollment in its REGULATE-PCI Phase 3 trial... Qihoo 360 (QIHU), down 5% after reporting Q2 earnings, Q3 outlook.
News For BKW;THI;ITMN;RHHBY;RGDO;INSY;TRP;X;QIHU;ADXS;MRK From The Last 14 Days
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November 18, 2014
11:22 EDTRHHBYTeva patent victory over Warner Chilcott, Roche affirmed
The U.S. Court of Appeals for the Federal Circuit ruled that a district court was correct to grant summary judgment to Teva (TEVA) in a patent dispute with Warner Chilcott and Roche (RHHBY) over patents related to osteoporosis drug risedronate.
07:13 EDTTRPTransCanada CEO comments on Keystone XL
TransCanada president and CEO Russ Girling provided a comment in advance of the debate and vote on U.S. Senate bill 2280. "I was very pleased to see another vote in the House of Representatives in favor of Keystone XL, a vote that demonstrates such broad bi-partisan support for the project. The majority of the U.S. Congress, in keeping with public opinion surveys, wants to see the Keystone gridlock come to an end so thousands of Americans can go to work building the final stage of one of the largest infrastructure projects on the books right now in the U.S. We put 9,000 Americans to work building the first two phases of the pipeline back in 2009/2010. We hired another 5,000 to build the southern leg of the project two years ago, and we want to put 9,000 more Americans to work to finish what we started. Also last week, comments were made that Keystone XL is an export pipeline. This statement is factually incorrect. Keystone XL will carry oil from both Canada and the U.S. - a receipt point at Baker, Montana is an important part of the project that will allow Bakken oil to be delivered to U.S. refineries. In fact, American-produced oil is already making its way to Gulf Coast refineries through the southern leg of Keystone."
06:39 EDTMRKAstraZeneca: 'Hard to comment' on whether Pfizer will come back, Reuters reports
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06:33 EDTXU.S. Steel initiated with a Market Perform at BMO Capital
Target $43.
November 17, 2014
17:03 EDTTRPTransCanada Tamazunchale Pipeline Extension now operational
TransCanada Corporation announced that it has placed into service the Tamazunchale Pipeline Extension, the most recent natural gas infrastructure project to be completed by TransCanada in Mexico. The new $600M pipeline is an extension of the existing Tamazunchale Pipeline that links an LNG terminal and natural gas supplies from the east coast of Mexico and U.S. to key power facilities in Tamazunchale. TransCanada has a 25-year natural gas transportation service contract with the Comision Federal de Electricidad, Mexico's state-owned power company. The pipeline extension is approximately 144 miles long and has a contracted capacity of 630M cubic feet a day.
14:26 EDTTRPTransCanada says Sandell analysis continues to be 'flawed'
TransCanada commented on materials made public by Sandell Asset Management: "TransCanada appreciates constructive input from shareholders and we actively engage in open dialogue with them to discuss all aspects of our operations and corporate strategy. We received materials from Sandell a few months ago containing a very similar and flawed analysis to the one that was published today. After careful review, and ongoing discussions with our other shareholders, TransCanada firmly believes that our current strategy best positions us to deliver long-term value to investors. TransCanada has established itself as a leading energy infrastructure company in North America with a blue-chip portfolio of assets that has consistently delivered attractive and sustainable growth in earnings, cash flow and dividends. Importantly, the Company has delivered a 15% annualized total shareholder return since 2000. We have a well-defined strategic plan to increase long-term shareholder value, including our strong focus on pipelines and power generation opportunities, and we remain focused on continuing to deliver on this plan successfully."
11:55 EDTMRKMerck says IMPROVE-IT study met all primary, secondary endpoints
Merck announced that the investigational IMPROVE-IT study met its primary and all secondary composite efficacy endpoints. In IMPROVE-IT, patients taking the LDL-cholesterol-lowering medicine VYTORIN – which combines simvastatin with the non-statin ZETIA -- experienced significantly fewer major cardiovascular events than patients treated with simvastatin alone. The results from this 18,144-patient study of high-risk patients presenting with acute coronary syndromes were presented today during the late-breaking clinical trials session at the American Heart Association 2014 Scientific Sessions. Merck plans to submit the data from IMPROVE-IT to the U.S. Food and Drug Administration in mid-2015 to support a new indication for reduction of major cardiovascular events for VYTORIN and ZETIA. VYTORIN and ZETIA are currently indicated for use along with a healthy diet to reduce elevated LDL cholesterol in patients with hyperlipidemia. The current U.S. Prescribing Information for both products states that the effect of ezetimibe on cardiovascular morbidity and mortality, alone or incremental to statin therapy, has not been determined.
08:34 EDTMRKMerck says IMPROVE-IT met primary endpoint
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08:14 EDTTRPSandell Asset Management sends letter to TransCanada board
Sandell Asset Management, a significant shareholder of TransCanada, has publicly released a letter and White Paper to the Board of Directors of the Company in anticipation of its upcoming Investor Day to stimulate further discussions among all stakeholders as to the best long term corporate structure for TRP. Tom Sandell, CEO of Sandell, stated: “Although we are excited about the recent positive developments at TransCanada, we are disappointed that the Company has neither fully embraced the Master Limited Partnership structure nor emphasized cash flow metrics such as Adjusted Funds From Operations to highlight the Company’s ample tax assets, low maintenance capital requirements and capacity for dividend payment. Furthermore, we believe a spinoff of the Energy segment is the best long term course for this asset to attract a world-class, dedicated management team to deal with upcoming opportunities and challenges within the sector and to highlight the premium value of the Pipeline business.” In Sandell’s analysis, fully utilizing the Company’s existing MLP, TC PipeLines LP and highlighting AFFO metrics would serve to enhance the Company’s ability to finance its significant Capital Program by increasing dividend growth expectations and lowering cost of capital for both TRP and TCP. Additionally, by engaging in an ‘all-in’ dropdown to TCP and by restructuring its incentive distribution rights, TCP would be transformed into a powerful player in the US MLP industry, increasing organic growth prospects and allowing it to participate in the current wave of M&A to bolster its strategic positioning and distribution growth profile. Sandell believes that, through the implementation of these steps, TRP’s share price would immediately trade at its intrinsic value of $75 per share reflecting a corporate structure that maximizes the future value of TRP, TCP and the separated Energy business.
05:30 EDTRHHBYInovio, Roche terminate collaboration for INO-5150
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November 16, 2014
13:26 EDTMRKMerck: KEYTRUDA showed superiority to chemotherapy for primary endpoint of PFS
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November 14, 2014
17:48 EDTTRPTransCanada to host investor day
Investor Day to be held in Toronto on November 19 at 8 am. Webcast Link
14:53 EDTRHHBY, MRKCVS 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),
14:24 EDTTRPTransCanada one vote short in Senate, The Hill says
TransCanada's Keystone Pipeline is one vote short of the 60 it will need to be approved by the Senate, according to The Hill. The House already approved the pipeline, but the White House indicated this week that President Obama is still opposed to it. Reference Link
13:27 EDTRHHBYRoche reports FDA nod for Avastin in platinum-resistant recurrent ovarian cancer
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12:56 EDTTRPHouses passes Keystone approval bill, Senate to vote next week
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11:46 EDTMRKMerck management to meet with SunTrust
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09:33 EDTTRPTransCanada volatility elevated into Congress likely vote on Keystone Pipeline
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November 13, 2014
13:56 EDTQIHUChina mobile game sector to grow slower in 2015, says Rosenblatt
Rosenblatt says Tencent reported below consensus numbers, particularly in mobile games, where revenue fell sequentially. The firm expects China's mobile game sector to grow slower in 2015 and remains on the sidelines with regards to shares of Sky-mobi (MOBI), China Mobile Games (CMGE) and iDreamSky (DSKY). Rosenblatt thinks Qihoo's(QIHU) mobile game distribution business will also be hurt by the slowing growth.
06:39 EDTTRPCongress likely to vote on Keystone Pipeline soon, Politico says
Congress is expected to vote on legislation authorizing TransCanada's Keystone Pipeline in coming days, but supporters look to be a few votes short in the Senate, according to Politico. Additionally, the White House indicated that President Obama still opposes the measure, the website stated., citing a Reuters report. Reference Link
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