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Stock Market & Financial Investment News

News Breaks
February 12, 2014
06:46 EDTMNK, CADXCadence downgraded to Neutral from Outperform at Wedbush
Wedbush downgraded Cadence (CADX) to Neutral saying Mallinckrodt's (MNK) $14 per share offer to acquire the company is a fair valuation.
News For CADX;MNK From The Last 14 Days
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October 6, 2015
09:22 EDTMNKOn The Fly: Pre-market Movers
UP AFTER EARNINGS: PepsiCo (PEP), up 2.6%. ALSO HIGHER: PMC-Sierra (PMCS), up 33.8% after being acquired by Skyworks (SWKS)... Skyworks is up 2.5%... MagneGas (MNGA), up 8.9% after receiving order from a U.S. Army contractor... Exelixis (EXEL), up 5.9% after the phase 3 pivotal trial of cobimetinib met its secondary endpoint... DuPont (DD), up 6.1% after CEO and chair Ellen Kullman retires... Mallinckrodt (MNK), up 3% after providing fiscal 2016 guidance and a business update in a conference call. LOWER: EXACT Sciences (EXAS), down 34.7% after Cologuard included as an alternative screen test under the U.S. Preventive Services Task Force draft guidelines... Illumina (ILMN), down 17.7% after providing third quarter, fourth quarter, and fiscal 2015 guidance... Tesla (TSLA), down 2.5% after Model X forecasts were lowered at Morgan Stanley and the firm cut its price target to $450.
07:43 EDTMNKMallinckrodt continues to expect to generate $1B in cash annually
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07:43 EDTMNKMallinckrodt wants no more than a third of operating income from single product
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07:42 EDTMNKMallinckrodt says specialty generics business will have difficult comparisons
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07:41 EDTMNKMallinckrodt says Acthar is 'complex product', expects long-term volume growth
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06:54 EDTMNKMallinckrodt to hold a conference call
Management holds a business update conference call on October 6 at 7:30 am. Webcast Link
06:10 EDTMNKMallinckrodt sees FY16 net sales from Specialty Brands up at least 30%
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06:06 EDTMNKMallinckrodt sees FY16 adjusted EPS $7.70-$8.20, consensus $8.00
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October 5, 2015
18:56 EDTMNKOn The Fly: After Hours Movers
HIGHER: Regulus Therapeutics (RGLS), up 8.7% after the company announced that it will present new preclinical data on RG-012 for kidney disease... Palatin Technologies (PTN), up 9.6% after director Robert deVeer Jr. buys 10,000 shares of common stock... Arena Pharmaceuticals (ARNA), up 4.7% after CEO Jack Lief announced his retirement and Harry Hixson was named interim CEO... DuPont (DD), up 5.9% after CEO and chair Ellen Kullman retires... Ruckus Wireless (RKUS), up 4.9% after joining the S&P 600... Starz (STRZA), up 10.1% after the LA Times reports that Lionsgate (LGF) is in advanced talks to merge with Starz. DOWN AFTER EARNINGS: Container Store (TCS), down 10.4%. ALSO LOWER: Sarepta Therapeutics (SRPT), down 3.8% after filing to sell $125M of common stock... Haemonetics (HAE), down 12.2% after lowering its fiscal 2016 outlook... Energy XXI (EXXI), down 8.3% after filing a $500M mixed securities shelf... Mallinckrodt (MNK), down 1.6% after announcing that it will provide a business update and financial guidance for the fiscal year ending September 30, 2016, on an investor call on October 6.
17:58 EDTMNKMallinckrodt down 1.9% after announcing business update conference call
Mallinckrodt announced that it will provide a business update and financial guidance for the fiscal year ending September 30, 2016, on an investor call on October 6, 2015. Mallinckrodt will also provide recast historical financial information reflecting the reclassification of its CMDS business to discontinued operations. The company announced plans to sell its CMDS business to Guerbet in late July 2015, with a closing expected in Q1 of FY16.
15:04 EDTMNKMallinckrodt management to meet with JPMorgan
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September 29, 2015
10:00 EDTMNKOn The Fly: Analyst Initiation Summary
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08:18 EDTMNKMallinckrodt initiated with a Neutral at Nomura
Target $100.
September 25, 2015
07:23 EDTMNKMallinckrodt estimates lowered due to Acthar competition at UBS
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September 24, 2015
05:52 EDTMNKBarclays says 'hard to imagine' Mallinckrodt sentiment getting worse
It's "hard to imagine" investor sentiment for Mallinckrodt (MNK) getting worse, especially relating to Acthar, Barclays analyst Douglas Tsao tells investors in a research note. Disappointing Acthar sales coupled with competitive concerns following ANI Pharmaceuticals' (ANIP) purchase Monday of two new drug applications for purified corticotropin gel and corticotropin-zinc hydroxide have hurt sentiment, Tsao writes. He cut his price target for Mallinckrodt shares to $100 from $135 but keeps an Overweight rating on the name. After speaking with two rheumatologists, the analyst is "incrementally confident" in Mallinckrodt's ability to grow Acthar sales, especially as a potential treatment in lupus. He sees the stock bouncing higher from current levels. Mallinckrodt closed yesterday down $1.26 to $71.64.
September 23, 2015
08:10 EDTMNKMallinckrodt says USPTO grants requests for trial by Praxair
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