New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 25, 2014
12:19 EDTCELG, ANN, SNY, ITMN, GILD, LTM, RGDO, THI, QIHU, GSK, RHHBY, BKWOn The Fly: Midday Wrap
Stocks on Wall Street continued their recent run higher, pushing the S&P 500 above 2,000 for the first time ever. The benchmark index hit the record level despite a report that showed new home sales unexpectedly declined in July. At the lunch hour, the averages were just off their best levels and the S&P had dipped back just below the 2K milestone. ECONOMIC EVENTS: In the U.S., the Chicago Fed's National Activity index jumped to 0.39 in July from an upwardly revised 0.21 in June. Markit's preliminary August services PMI came in at 58.5, which was down from a prior reading of 60.8 but above the 58.0 consensus projection. New home sales dropped 2.4% to a 412K rate in July, missing expectations for them to have risen to a 430K annualized rate. COMPANY NEWS: Shares of InterMune (ITMN) surged 35.5% to trade just below $73 per share near noon after the company agreed to be acquired by Roche (RHHBY) for $74.00 per share in an all-cash transaction. The deal announcement comes less than two weeks after Bloomberg reported that Roche, along with big pharmaceutical peers Sanofi (SNY) and GlaxoSmithKline (GSK), had made takeover bids for the smaller drugmaker. A number of other biotech companies gained following the deal announcement, including Gilead (GILD), which rose about 3%, and Celgene (CELG), which advanced 2%... Burger King (BKW) shares rose 19% after the company confirmed it is in talks regarding a potential strategic transaction with Canadian donut chain Tim Hortons (THI). The new publicly-listed company, which would be headquartered in Canada, would be the world's third-largest quick service restaurant company with about $22B in system sales and over 18,000 restaurants. Shares of Tim Horton's trading in New York also gained 20% following the confirmation of news reported by The Wall Street Journal over the weekend. MAJOR MOVERS: Among the notable gainers was Life Time Fitness (LTM), which rose 10% after confirming the company has initiated a process to explore a potential conversion of its real estate assets into a Real Estate Investment Trust, or REIT. Also higher was Ann Inc. (ANN), which gained 4.5% after Engine Capital and Red Alder, who collectively own over 1% of the company's outstanding shares, urged the company to explore value creating opportunities, including a potential sale. Among the noteworthy losers was Regado Biosciences (RGDO), which plunged 60% and was downgraded at Deutsche Bank and Jefferies after the company announced the permanent termination of enrollment in its REGULATE-PCI phase 3 trial for its lead program. Also lower after its earnings report was Chinese Internet services provider Qihoo 360 (QIHU), which dropped 8%. INDEXES: Near midday, the Dow was up 96.27, or 0.57%, to 17,097.49, the Nasdaq was up 21.29, or 0.47%, to 4,559.85, and the S&P 500 was up 11.14, or 0.56%, to 1,999.54.
News For BKW;THI;ITMN;RHHBY;RGDO;SNY;GSK;LTM;ANN;QIHU;GILD;CELG From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | 4 | all recent news | >>
May 18, 2015
07:35 EDTANNAscena Retail to acquire Ann Inc. for $47 per share
07:31 EDTCELGCelgene, Acceleron granted fast track designations for luspatercept
Subscribe for More Information
May 17, 2015
14:59 EDTSNYL'Oreal CEO 'ready' to sell Sanofi stake if needed, Barron's says
Subscribe for More Information
May 15, 2015
16:01 EDTGILDOptions Update; May 15, 2015
iPath S&P 500 VIX Short-Term Futures down 20c to 20.06 Option volume leaders: AAPL BAC FB NFLX TWTR BABA CSCO TSLA MU GILD T MSFT AMZN MCD
15:11 EDTGSKGlaxoSmithKline reports 16.12% stake in HTG Molecular
Subscribe for More Information
11:08 EDTGILDOmega Advisors gives quarterly update on stakes
NEW STAKES: Targa Resources (TRGP), Targa Resources Partners (NGLS), Humana (HUM), Dow Chemical (DOW), and Twenty-First Century Fox (FOXA). INCREASED STAKES: Kinder Morgan (KMI), Chimera Investment Corporation (CIM), AerCap Holdings (AER), Shire (SHPG), and KKR & Co. (KKR). DECREASED STAKES: eBay (EBAY), Altisource Portfolio Solutions (ASPS), Caesars Entertainment (CZR), Navient (NAVI), and TerraForm Power (TERP). LIQUIDATED STAKES: HCA Holdings (HCA), Gilead (GILD), Cabot Oil & Gas (COG), and Apple (AAPL).
10:29 EDTSNYAmerican Urological Association to hold an annual meeting
Subscribe for More Information
09:31 EDTGSK, GILDAmerican Thoracic Society to hold a conference
ATS 2015 Conference is being held in Denver on May 15-20.
May 14, 2015
11:11 EDTCELGAnalysts divided on significance of Celgene blood cancer drug data
Subscribe for More Information
09:22 EDTRHHBYLeerink pharma/biotech analysts hold an analyst/industry conference call
Subscribe for More Information
May 13, 2015
18:12 EDTRHHBYGenentech alectinib shrank tumors in about half of ALK-positive NSCLC patients
Subscribe for More Information
17:42 EDTCELGCelgene announces over 55 blood, solid tumor cancer study presentations at ASCO
Subscribe for More Information
17:04 EDTRHHBYGenentech announces interim results from POPLAR study
Genentech, a member of the Roche Group announced interim results from a global, randomized Phase II study, POPLAR, in people with previously treated non-small cell lung cancer, NSCLC. The study showed the investigational cancer immunotherapy MPDL3280A doubled the likelihood of survival; hazard ratio [HR]=0.47) in people whose cancer expressed the highest levels of PD-L1 compared with docetaxel chemotherapy. An improvement in survival was also observed in people who had medium and high or any level of PD-L1 expression, as characterized by a test being developed by Roche. MPDL3280A was generally well tolerated and adverse events were consistent with what has been previously reported for MPDL3280A in NSCLC. Updated results will be presented in an oral session at the 51st Annual Meeting of the American Society of Clinical Oncology. “In our study of MPDL3280A in previously treated lung cancer, the amount of PD-L1 expressed by a person’s cancer correlated with improvement in survival,” said Sandra Horning, M.D., chief medical officer and head of Global Product Development. “The goal of PD-L1 as a biomarker is to identify people most likely to experience improved overall survival with MPDL3280A alone, and which people may be appropriate candidates for a combination of medicines.”
13:12 EDTGILDSen. Sanders urges VA to break patents on Gilead hepatitis C drugs
Subscribe for More Information
11:38 EDTGSKGlaxoSmithKline downgraded to Neutral from Buy at UBS
Subscribe for More Information
07:31 EDTSNY, GILDHeart Rhythm Society to hold a conference
Heart Rhythm 2015 is being held in Boston on May 13-16.
07:07 EDTGSKGSK, Emergent BioSolutions, Oxford initiate Prime Boost study of Ebola vaccine
A new phase 1 study has begun at the University of Oxford that will investigate the use of a modified vaccinia Ankara, or MVA, Ebola Zaire vaccine candidate, or MVA EBOZ, as a prime-boost to GlaxoSmithKline's (GSK) Chimp Adenovirus type 3, or ChAd3, Ebola vaccine candidate. The study, being conducted by the clinical research group of Professor Adrian Hill of the Jenner Institute, has received regulatory approval to begin from the United Kingdom's Medicines and Healthcare Products Regulatory Agency, or MHRA. The phase 1 study has a planned enrollment of 38 volunteers of which 6 will receive MVA EBOZ only while the other 32 will receive ChAd3-EBO-Z prime followed by MVA EBOZ boost. Emergent BioSolutions (EBS) manufactured the supply of MVA EBOZ to be used in this phase 1 study, which is being conducted in the U.K. with support from the Wellcome Trust and the U.K. Department for International Development.
07:05 EDTSNYSanofi exercises option on therapeutic program with Selecta Biosciences
Selecta Biosciences., a clinical stage biotechnology company developing a novel class of targeted antigen-specific immune therapies, today announced that, under the terms of an existing strategic global collaboration, Sanofi has exercised its option to an exclusive license to develop an immunotherapy for the treatment of celiac disease. Under the terms of the collaboration, Selecta is eligible to receive research support and several pre-clinical, clinical, regulatory and sales milestones totaling up to $300 million for this new program in celiac disease. Additionally, Selecta is also entitled to up to double digit tiered royalties as percentage of product net sales for any commercialized immunotherapy resulting from these efforts with Sanofi. November 2012, Selecta announced that they had formed a strategic global collaboration to discover highly targeted, antigen-specific immunotherapies for life threatening allergies. Under the agreement, Sanofi obtained a first exclusive license to develop an immunotherapy designed to abate acute immune responses against a life threatening food allergen and an option to develop two additional candidate immunotherapies for allergies and celiac disease. With the exercise of this option by Sanofi, Selecta and Sanofi now have two initiatives actively advancing immune tolerance treatments under the terms of the 2012 agreement. In October 2014, Selecta and JDRF announced another collaboration with Sanofi to research novel antigen-specific immune therapies for Type 1 Diabetes.
May 12, 2015
07:33 EDTCELGAlliqua announces licensing agreement with Celgene
Subscribe for More Information
06:02 EDTGSKGSK CEO cites 'poor choices' in rivals' M&A deals, Financial Times reports
Subscribe for More Information
1 | 2 | 3 | 4 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use