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Stock Market & Financial Investment News

News Breaks
November 12, 2012
10:00 EDTHES, VNO, NKTR, JCP, CAT, PBR, VRTX, KRC, GRMN, BMY, STRA, JNJ, IQNTOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Caterpillar (CAT) downgraded to Neutral from Overweight at JPMorgan... Garmin (GRMN) downgraded to Sell from Neutral at Goldman... Inteliquent (IQNT) downgraded to Underweight from Equal Weight at Morgan Stanley... J.C. Penney (JCP) downgraded to Underperform from Neutral at Credit Suisse... Johnson & Johnson (JNJ) downgraded to Hold from Buy at Jefferies... Kilroy Realty (KRC) downgraded to Neutral from Buy at BofA/Merrill... Nektar (NKTR) downgraded to Hold from Buy at Jefferies... Strayer Education (STRA) downgraded to Neutral from Overweight at JPMorgan... Vertex (VRTX) downgraded to Neutral from Outperform at Credit Suisse... Vornado (VNO) downgraded to Neutral from Buy at BofA/Merrill... Bristol-Meyers (BMY) downgraded to Market Perform from Outperform at BMO Capital... Petrobras (PBR) downgraded to Neutral from Buy at BofA/Merrill... Hess Corp. (HES) downgraded to Market Perform from Outperform at Howard Weil.
News For CAT;IQNT;GRMN;JCP;JNJ;KRC;NKTR;STRA;VRTX;VNO;BMY;PBR;HES From The Last 14 Days
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March 18, 2015
08:07 EDTNKTRNektar weakness a buying opportunity, says Brean Capital
Brean Capital said it would use any weakness following Nektar's announcement of top line results for its breast cancer drug trial as a buying opportunity. The firm noted the trial missed its primary and secondary endpoints and has removed the revenue from their estimates, leading to a lowering of its price target to $17 from $20, but maintained its Buy rating on Nektar shares, citing its other opportunities.
07:02 EDTNKTRNektar price target lowered to $15 from $20 at Piper Jaffray
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06:49 EDTNKTRNektar price target lowered to $17 from $19 at JPMorgan
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March 17, 2015
19:42 EDTNKTROn The Fly: After Hours Movers
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17:51 EDTNKTRNektar down 18% after NKTR-102 trial did not achieve statistical significance
17:40 EDTNKTRNektar to resume trading at 5:50 pm ET
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16:19 EDTNKTRNektar says NKTR-102 trial did not achieve statistical significance
Nektar Therapeutics announced topline results from its Phase 3 BEACON study evaluating single-agent NKTR-102 in patients with advanced breast cancer. BEACON compared NKTR-102 to an active control arm comprised of a single chemotherapy agent of physician's choice in patients who were heavily pre-treated with a median of three prior therapies for metastatic disease. In a topline analysis of 852 patients from the trial, NKTR-102 provided a 2.1 month improvement in median overall survival over TPC. Based on a stratified log-rank analysis, the primary endpoint measuring the Hazard Ratio for survival in the NKTR-102 group compared to the active control arm was 0.87 with a p-value of 0.08, which did not achieve statistical significance. In a pre-specified subgroup of patients with a history of brain metastases, NKTR-102 showed an improvement of 5.2 months in median OS. The proportion of patients with brain metastases with 12-month survival was 44.4% in the NKTR-102 arm as compared to 19.4% in the control arm. In a pre-specified subgroup of patients with baseline liver metastases at study entry, NKTR-102 showed an improvement of 2.6 months in median OS. In these patients with baseline liver metastases, the proportion of patients with 12-month survival was 46.9% in the NKTR-102 arm as compared to 33.3% in the control arm. Secondary endpoints in the BEACON study included objective response rate and progression-free survival, which did not achieve statistical significance in the study. Nektar will continue to review and analyze the data from the BEACON study. Data from the BEACON study will be submitted for presentation at an upcoming medical meeting. "It is clear from our BEACON study that NKTR-102 has potential as an important anti-cancer agent when compared to the best available treatment options today for women with advanced breast cancer. Given the significant need for new drugs to treat patients with this devastating disease, we will be exploring potential paths forward for NKTR-102 in metastatic breast cancer with regulatory agencies," said Howard Robin, president and CEO of Nektar Therapeutics.
16:17 EDTNKTRNektar to explore potential regulatory pathways for NKTR-102 in U.S., Europe
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16:16 EDTNKTRNektar says NKTR-102 trial did not achieve statistical significance
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15:41 EDTJCPJ.C. Penney General Counsel Janet Dhillon leaving, Bloomberg says
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11:31 EDTCATCaterpillar sees up year for North American construction
Sees some competitors in the construction segment becoming more price competitive.
11:10 EDTCATCaterpillar says balance sheet will allow M&A for potential targets
Says metrics are in "great shape." Says not afraid of doing a "multi-billion dollar" deal.
11:05 EDTCATCaterpillar seeing some activity in domestic infrastructure investment
Comments from Caterpillar at Bank of American Merrill Lynch Global Industrials Conference.
10:44 EDTCATCaterpillar reaffirms FY15 EPS ex-items about $4.75, consensus $4.74
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06:57 EDTJCPJ.C. Penney CMO leaves company, effective immediately, AdAge reports
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05:35 EDTJNJJohnson & Johnson to invest $10M in UK government fund to fight dementia
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March 16, 2015
15:04 EDTJNJPharmacyclics says committee recommends unblinding after primary endpoint met
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10:02 EDTGRMNOn The Fly: Analyst Downgrade Summary
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07:28 EDTGRMNGarmin downgraded at Oppenheimer
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06:40 EDTGRMNGarmin downgraded to Perform from Outperform at Oppenheimer
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