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Stock Market & Financial Investment News

News Breaks
August 25, 2014
12:19 EDTGILD, LTM, RGDO, THI, QIHU, GSK, RHHBY, BKW, CELG, ANN, SNY, ITMNOn 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
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February 19, 2015
08:23 EDTGSKGlaxoSmithKline weakness creates buying opportunity, says Argus
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06:45 EDTRHHBYStudy shows Roche's treatments equal to Eylea in most cases, NY Times says
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06:21 EDTSNYSanofi upgraded to Buy from Neutral at BofA/Merrill
05:31 EDTSNYSanofi upgraded to Buy from Neutral at BofA/Merrill
05:31 EDTRHHBYExelixis announces acceptance of NDA for Genentech cobimetinib
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05:26 EDTRHHBYFDA grants Genentech cobimetinib priority review for combination use
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February 18, 2015
16:00 EDTCELGOptions Update; February 18, 2015
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10:05 EDTCELGOn The Fly: Analyst Initiation Summary
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10:05 EDTQIHUOn The Fly: Analyst Downgrade Summary
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09:38 EDTCELGCelgene reports FDA expands indication for Revlimid combo
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09:37 EDTCELG, GILDOption volume leaders on open
Option volume leaders: AAPL TSLA TWTR CELG APO NFLX AXP APA LNKD C GILD according to Track Data.
07:36 EDTQIHUQihoo 360 downgraded on web game weakness at Jefferies
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06:47 EDTCELGCelgene initiated with a Buy at Canaccord
Target $156.
February 17, 2015
17:13 EDTGILD, QIHUPoint72 gives quarterly update on stakes
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16:11 EDTQIHUQihoo 360 downgraded to Hold from Buy at Jefferies
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16:00 EDTGILDOptions Update; February 17, 2015
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13:18 EDTGILDOmega Advisors gives quarterly update on stakes
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11:38 EDTSNYGenzyme reports publication of ENGAGE registration study results
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09:40 EDTGILDActive equity options trading on open
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07:38 EDTGSKGlaxo replaces head of struggling U.S. drug unit, Bloomberg reports
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