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Stock Market & Financial Investment News

News Breaks
December 31, 2012
12:34 EDTBMY, PFE, DUF, CG, HLF, CALMOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday as the last minute fiscal cliff negotiations may prove to be a boost, or a bane, to the averages in the last hours of trading of the year. With little else for investors to key in on, the fiscal cliff headlines will dominate once again for the remainder of the session... ECONOMIC EVENTS: In the U.S. a minor economic report, the Dallas Fed's December manufacturing survey, came in better than expected at +6.8. In China, the HSBC purchasing managersí index for December rose to a final reading of 51.5, an upward revision from the preliminary 50.9 result and an improvement from 50.5 a month earlier... COMPANY NEWS: After Friday's closing bell, the FDA announced it had approved the anti-clotting drug Eliquis, marketed by Bristol-Myers Squibb (BMY) and Pfizer (PFE). Atlantic Equities upgraded Bristol-Myers citing the approval and shares advanced about 1%. Pfizer shares, however, slid about 0.3%... MAJOR MOVERS: Among the notable gainers was Duff & Phelps (DUF), up 20% after agreeing to be acquired by a group led by The Carlyle Group (CG), with the provision that Duff & Phelps can continue to seek a better deal. Also higher were shares of Herbalife (HLF), which rose over 8% as the stock continues to bounce back from the sell-off begun with Bill Ackman's revelation of his short position. Among the noteworthy losers was Cal-Maine Foods (CALM), down 10% after reporting Q2 earnings that missed expectations... INDICES: Near noon, the Dow was down 2.10, or 0.02%, to 12,936.01; the Nasdaq was up 20.07, or 0.68%, to 2,980.38; and the S&P 500 was up 3.80, or 0.27%, to 1,406.23.
News For BMY;PFE;DUF;CG;HLF;CALM From The Last 14 Days
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July 18, 2014
07:14 EDTCGBlackstone, KKR, TPG discussing deal collusion suit settlement, Reuters says
Blackstone (BX), KKR (KKR) and TPG Capital are in discussions to settle a U.S. case accusing the firms of conspiring not to outbid one another and other buyout companies on takeovers of firms, according to Reuters, citing two people familiar with the matter. If all three companies settled, the Carlyle Group (CG) would be the only private equity company still up against a trial among 11 firms originally accused of colluding in agreements before the financial crisis occurred. Reference Link
July 17, 2014
13:47 EDTHLFHerbalife says 'confident' will overcome Pershing's 'campaign of misinformation'
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13:47 EDTHLFHerbalife says Pershing Square's campaign 'based on propaganda'
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13:46 EDTHLFHerbalife says 'stands behind quality' of products
Herbalife issued the following statement regarding the strength and integrity of its business: "Herbalife has the utmost trust in the integrity of our business model and that we are in compliance with all applicable laws and regulations. We are cooperating fully with the FTC and welcome the opportunity to clear up misinformation in the marketplace. Herbalife stands behind the quality of our products and our commitment to member satisfaction and consumer protection. Herbalife continues to face an unprecedented and unrelenting attack from Pershing Square to support its $1B bet to manipulate and drive Herbalife's stock price to zero to the detriment of our investors, members, customers and employees. Herbalife is confident that the facts are on its side and that it will overcome Pershing Square's campaign of misinformation about the Company as the truth about Pershing Square's increasingly desperate accusations is revealed. Attacks on Herbalife have been clearly orchestrated by Pershing Square and its agents. Pershing Square's attack on the Company lacks any impartiality or accountability. Pershing Square has no duty to any member of the public and is unhindered by the disclosure obligations imposed upon publicly traded corporations. With Pershing Square's limited accountability, in light of the historical regulatory scrutiny placed on Herbalife, it has made the astonishing claim that it is a "provable certainty" Herbalife is a massive, sprawling fraud that had gone undetected for more than 30 years. Pershing Square is claiming that decades of Herbalife management, and a material number of members had all kept this secret.Pershing Square has admittedly spent more than $20B and 18 months trying to find former Herbalife members from as far back as 2008 that will complain about their experience with the Company. In fact, Pershing Square has even been willing to pay multi-million dollar bounties to anyone willing to generate negative publicity against Herbalife and support Pershing Square's agenda. The reason why Pershing Square has so few relative voices is because, as demonstrated through third party studies, the overwhelming majority of our members have been very satisfied, and we are proud of that track record. In fact, Pershing Square's own well-financed campaign to find dissatisfied customers has actually largely validated our consumer reputation. Ultimately, Pershing Square's campaign is based on propaganda."
11:56 EDTHLFPershing Square to reveal investigation into Herbalife Nutrition Clubs
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08:08 EDTBMY, PFEBristol-Myers, Pfizer announce enrollment in Phase IV EMANATE trial for Eliquis
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05:53 EDTHLFStocks with implied volatility movement; HLF ABBV
Stocks with implied volatility movement; Herbalife (HLF) 52, AbbVie (ABBV) 30 according to iVolatility.
July 16, 2014
18:26 EDTHLFOn The Fly: After Hours Movers
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17:44 EDTHLFAckman says he would like Icahn out of Herbalife holdings
17:17 EDTHLFIcahn says bad time to talk about Herbalife, but hasn't sold one share
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11:46 EDTHLFHerbalife August volatility flat into Q2
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10:59 EDTHLFHerbalife August volatility flat on into Q2
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10:36 EDTPFETreasury calls on Congress to halt inversion deals
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10:17 EDTHLFAckman to detail Herbalife club probe next week, NY Post says
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09:27 EDTPFEPfizer to acquire InnoPharma for upfront cash payment of $225M
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07:59 EDTPFETreasury Secretary urges Congress to take action on tax inversions
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07:04 EDTPFEPfizer says primary endpoint met in Phase 3 study of BeneFIX
Pfizer announced the positive results of a Phase 3 study comparing a prophylaxis regimen of BeneFIX Coagulation Factor IX 100 IU/kg once-weekly to on-demand treatment in people with moderately severe to severe hemophilia B. The top-line results of the study showed that the primary study endpoint was met and hemophilia B patients taking once-weekly BeneFIX showed a statistically significant reduction in the annualized bleeding rate relative to on-demand treatment with BeneFIX. In the study, the median ABR value, a commonly used measure of efficacy for prophylaxis regimens in hemophilia, was 2.0 for the prophylaxis regimen, compared to 33.6 for the on-demand regimen, representing a 94% decrease in bleeding rates. The mean ABR value was 3.6 for the prophylaxis period, compared to 32.9 for the on-demand treatment, which represents a reduction of 89%. Study results also showed that prophylaxis treatment significantly reduced both spontaneous and traumatic ABR compared to on-demand treatment with BeneFIX. In addition to meeting the primary endpoint, the secondary study endpoints showed that none of the 1,254 prophylaxis infusions administered during the study were associated with a less than expected therapeutic effect occurrence, which was defined as a spontaneous bleed occurring within 48 hours of a prophylaxis infusion. These results are preliminary, top-line data and are subject to additional analyses. Complete results from this study will be submitted for presentation at upcoming medical congresses and submitted for publication in a peer-reviewed journal.
06:26 EDTBMYBristol-Myers lung cancer trials being underestimated, says Citigroup
After building a statistical model of Bristol-Myers' two critical registration trials for Opdivo in lung cancer, Citigroup believes the market is "materially" underestimating both Phase III trials. Citi says potential Opdivo FDA approval in 2015 in lung cancer would give Bristol-Myers an up to two year lead time versus Merck (MRK) and Roche (RHHBY). The firm estimates 2023 Opdivo revenue at $7B and reiterates a Buy rating on Bristol with a $60 price target.
July 15, 2014
11:13 EDTBMYPerrigo retreats after analyst sees limited potential buyers
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07:35 EDTBMYPerrigo potential buyers list could be limited, says Jefferies
After Globes reported that Perrigo retained an investment bank to assist with a potential merger, Jefferies says the list of potential buyers could be limited since the store brand business is fundamentally a high volume, lower margin model. The firm notes U.S. companies that currently do not have large over-the-counter divisions include Bristol-Myers (BMY), Eli Lilly (LLY) and Merck (MRK). Jefferies views the merger speculation surrounding Perrigo as not surprising given the company's strong long-term fundamentals and attractive Irish domicile. It has a Buy rating on the stock with a $160 price target.
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