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Stock Market & Financial Investment News

News For BMY;PFE;DUF;CG;HLF;CALM From The Last 14 Days
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February 5, 2016
12:48 EDTBMYBristol-Myers announces expanded use of Daklinza approved by FDA
Bristol-Myers Squibb announced today that Daklinza, an NS5A replication complex inhibitor, has been approved by the U.S. Food and Drug Administration in combination with sofosbuvir (with or without ribavirin) in genotypes 1 and 3. The expanded label includes data in three additional challenging-to-treat patient populations: chronic hepatitis C virus patients with HIV-1 coinfection, advanced cirrhosis, or post-liver transplant recurrence of HCV. The Daklinza plus sofosbuvir regimen is already available for the treatment of chronic HCV genotype 3, and is currently the only 12-week, once-daily all-oral treatment option for these patients. Sustained virologic response rates are reduced in genotype 3 patients with cirrhosis receiving Daklinza and sofosbuvir for 12 weeks without ribavirin. The recommended dosage of Daklinza is 60 mg in combination with sofosbuvir with or without ribavirin for 12 weeks.
07:37 EDTBMYBristol-Myers pullback brings buying opportunity, says JPMorgan
JPMorgan analyst Chris Schott sees an attractive opportunity for shares of Bristol-Myers following the recent pullback. He reiterates an Overweight rating on the name with an $80 price target. The analyst sees a number of Immuno-Oncology catalysts for shares of Bristol over the next 12-18 months.
February 4, 2016
10:01 EDTPFEActive puts: SPY QQQ EEM PFE
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February 3, 2016
18:21 EDTCGJustice Department stipulates asset sales in Carlyle's Landmark Aviation sale
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16:00 EDTPFEOptions Update; February 3, 2016
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08:21 EDTPFEAxovant Sciences has negative read through from Pfizer decision, says Chardan
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07:38 EDTPFEAxovant Sciences weakness a buying opportunity, says Baird
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06:13 EDTPFEPfizer insists Allergan deal won't be thwarted by U.S. politicians, FT says
Pfizer (PFE) has insisted that its $160B acquisition of Allergan (AGN) will not be stifled by political opposition, amid criticism that the deal will cost the U.S. Treasury billions of dollars in future tax revenues, the Financial Times reports. Pfizer CEO Ian Read also reiterated his intention to postpone until 2018 a decision on whether to break of the combined entity into two or three smaller companies, but has said that he would be open to offers for its generics unit, the report says. Mylan (MYL) has been connected to a potential acquisition of Pfizer's generic drugs business after it failed in its attempt to buy Perrigo (PRGO) last year, the report says. Reference Link
February 2, 2016
13:35 EDTBMYEarnings Watch: Merck down over 5% since last earnings report
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12:03 EDTPFEOn The Fly: Top stock stories at midday
Wall Street began the session in negative territory and the averages have remained there throughout the day as oil once again weighs on stocks. The price of oil has slid another 4%, giving the commodity a roughly 10% loss over the past two trading sessions. The market's late day rally yesterday gave hope for a decoupling between equities and oil prices, but that appears to be a one day reprieve as the stocks are back in lock-step with crude prices. ECONOMIC EVENTS: In the U.S., the economic calendar was quiet. In Europe, statistics agency Eurostat reported that unemployment across the eurozone decreased by 49,000 to a total of 16.75M in December dropping the unemployment rate to its lowest since September 2011 at 10.4%. In central bank news, the Reserve Bank of Australia and Reserve Bank of India both held their benchmark interest rates steady, as expected. COMPANY NEWS: Class A shares of Alphabet (GOOGL) advanced 5% in the wake of its report of better than expected quarterly earnings and revenue, pushing Google's parent company to overtake Apple (AAPL) as the world's most valuable publicly-traded company in the process... Exxon Mobil (XOM) reported better than expected revenue and profits in the fourth quarter, but its shares slid 2.5% amid the renewed weakness in oil prices. Shares of fellow oil major BP (BP) plunged 8% in New York trading after reporting a steep quarterly loss, largely due to $2.6B in charges related to impairments of Upstream assets as well as restructuring... Pfizer (PFE) reported better than expected fourth quarter results, but forecast 2016 revenue and earnings below analysts' estimates, pushing its shares down fractionally. MAJOR MOVERS: Among the notable gainers was Syngenta (SYT), which rallied 4.5% after Bloomberg reported that ChemChina was close to a deal to buy the company for nearly $43B. Also higher were Mattel (MAT), Michael Kors (KORS), and Fabrinet (FN), which gained 12%, 22%, and 12.5%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Twitter (TWTR), which fell 8% after it was downgraded to Sell at Stifel and following a report claimed that tweets on the service are down 50% from their peak. Also lower were AGCO (AGCO), Harris (HRS), and Pitney Bowes (PBI), which were down 10%, 9.5%, and 11%, respectively, after reporting quarterly earnings. In addition, Ford (F) and General Motors (GM) lost 4% and 3.6%, respectively, after reporting U.S. sales for the month of January. INDEXES: Near midday, the Dow was down 239.86, or 1.46%, to 16,209.32, the Nasdaq was down 64.83, or 1.4%, to 4,555.54, and the S&P 500 was down 27.87, or 1.44%, to 1,911.51.
11:10 EDTPFEPiper says buy Axovant on today's Pfizer-related selloff
Piper Jaffray analyst Charles Duncan calls the pullback in shares of Axovant Sciences (AXON) after Pfizer (PFE) announced the discontinuation of its 5-HT6 antagonist program in Alzheimer's a buying opportunity. Axovant's RVT-101 has "clear differences" to Pfizer's program on potency, clinical trial design and patient enrollment criteria, Duncan tells investors in an intraday research note. The analyst views clinical read-through between the two programs as minimal and does not believe the probability of RVT-101 success is compromised by Pfizer's news. He reiterates an Overweight rating on Axovant with a $23 price target. The stock Is down 27%, or $4.51, to $12.14 in late morning trading.
10:59 EDTPFEPfizer CEO confident Allergan deal can close in second half
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09:46 EDTBMY, PFEIntercept rumored to draw interest from many suitors, Daily Mail says
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08:53 EDTBMYPiper Jaffray biopharma analyst holds an analyst/industry conference call
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08:49 EDTPFEAxovant tumbles after Pfizer halts Alzheimer's study
Shares of clinical-stage drug company Axovant Sciences (AXON) are tumbling in pre-market trading after it came to light that a larger competitor halted its own study of a potential Alzheimer's disease treatment since the drug did not appear to have its intended effect in a clinical study. WHAT'S NEW: According to a post to the U.S. National Institutes of Health's ClinicalTrials.gov, Pfizer terminated its Phase 2 study evaluating the safety and efficacy of PF-05212377 in subjects with Alzheimer's disease with existing neuropsychiatric symptoms on donepezil. "The study was terminated October 23, 2015 as pre-specified, interim analysis futility criteria were met. The termination was not due to safety concerns," the site, which was last updated on January 29, stated. WHAT'S NOTABLE: Axovant's own experimental Alzheimer's therapy, RVT-101, is an orally administered, potent antagonist of the 5-hydroxytryptamine 6 serotonin receptors in the brain, which is a similar mechanism of action to Pfizer's drug candidate. RVT-101 is currently in Phase 3 trials. PRICE ACTION: In pre-market trading, Axovant shares fell $2.68, or 16%, to about $14 per share.
08:36 EDTPFEPiper Jaffray biopharma analyst holds an analyst/industry conference call
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07:42 EDTPFEPressure mounts on big pharma names to shrink, sharpen focus, FT says
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06:54 EDTPFEPfizer expects combination with Allergan to occur in 2H16
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06:52 EDTPFEPfizer sees FY16 adjusted EPS $2.20-$2.30, consensus $2.36
Sees FY16 revenue $49B-$51B, consensus $52.49B. Expects impact of January 2016 FX rates compared to 2015 FX rates to negatively impact adjusted EPS by 9c and revenue by $1.5B. Expects currency impact related to Venezuela to negatively impact EPS by 7c and revenue by $800M. Sees FY16 effective tax rate of approximately 24%. Sees FY16 adjusted R&D expenses $7.3B-$7.8B and adjusted SI&A expenses of $13.2B-$14.2B.
06:49 EDTPFEPfizer reports Q4 Innovative Products revenue $7.64B
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