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Stock Market & Financial Investment News

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December 3, 2013
09:37 EDTCELG, YHOO, BX, ARIA, GS, NXPI, AMGN, MRKActive equity options trading on open
Active equity options trading on open according to Track Data: CELG YHOO BX ARIA GS NXPI DG AMGN SLW MRK
News For CELG;YHOO;BX;ARIA;GS;NXPI;AMGN;MRK From The Last 14 Days
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April 6, 2014
14:21 EDTYHOOYahoo plans to acquire bigger budget TV programming, WSJ says
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13:37 EDTMRKMerck presents findings on clinical outcomes following treatment with MK-3475
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April 4, 2014
17:27 EDTBXBlackstone to acquire Gates Global for $5.4B
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12:16 EDTGSGoldman CEO Blankfein awarded raise for 2013, WSJ says
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10:45 EDTCELGMylan rises despite Meda rejecting takeover offer
Mylan (MYL) shares are higher this morning following a Financial Times report of its desire to buy Swedish rival Meda. Subsequent to the story being published, Meda confirmed it had been in talks with Mylan but rejected the company's takeover offer. WHAT'S NEW: The Financial Times reported that Mylan was considering buying Meda, a Swedish drugmaker, in a deal that would create a $23B+ pharmaceuticals business. Mylan reportedly hired advisers to put a deal together for Meda, and though the value of a deal was not noted, sources said Mylan was likely to pay a "significant" premium to Meda's market value, which was $4.5B at the end of trading on Thursday. Mylan's market value currently stands at $18.5B. A combination of the drugmakers would create a company with annual revenues of around $9B, the FT said, noting that would be half the size of generic drug rival Teva (TEVA). WHAT'S NOTABLE: Meda's board of directors confirmed that it was contacted by Mylan regarding a proposal to merge the companies, but the board decided to reject the proposal. Meda said all discussions between the company and Mylan have been terminated "without further actions." ANALYST REACTION: Citigroup upgraded Mylan to Buy from Neutral and raised its price target on the stock to $61 from $52 this morning. The firm cited potential operational and tax benefits from an acquisition of Meda, stating that in addition to expanding Mylan's geographic presence, the deal would increase its presence in specialty, OTC and branded generics. OTHER NEWS: Mylan sued Celgene (CELG) to block that company's efforts to keep generic versions of Revlimid and Thalomid off the market, Reuters reported. PRICE ACTION: Mylan shares are up $2.98, or 5.98%, to $52.84 in mid-morning trading.
09:02 EDTAMGNAmgen announces analysis results of Phase 3 trial of talimogene laherparepvec
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08:07 EDTMRKMerck, Ferring announce collaboration with WHO
Merck and Ferring Pharmaceuticals announced their collaboration with the World Health Organization to advance a new, proprietary formulation of carbetocin, used to prevent excessive bleeding in women after childbirth, that is designed to be stable at room temperature, even in hot and tropical climates. Currently, oxytocin, the standard medicine administered for the prevention of excessive bleeding, is temperature-sensitive and requires sustained cold distribution and storage in hot climates. The WHO will conduct a multi-country clinical study to evaluate the effectiveness of room-temperature-stable carbetocin, as compared to oxytocin. The development of a medicine that can be stored at room temperature has the potential to significantly improve management of bleeding following childbirth in the many areas of the world where cold storage is difficult to achieve and maintain, and thereby help reduce maternal deaths in those areas. Starting this year, the study will take place in 12 countries around the world and enroll approximately 29,000 women. If the results of the study are positive, the organizations will work together with the aim of making the medicine available in developing countries that have a high burden of maternal mortality at an affordable and sustainable public-sector price.
07:56 EDTBXBlackstone's Chae comes back to New York, Bloomberg says
Head of international private equity at Blackstone, Michael Chae, is scheduled return to New York in June after spending more than three years building the firmís business in Asia, according to Bloomberg, citing contents in an internal memo confirmed by a company spokesman. Reference Link
07:27 EDTGSMorgan Stanley pushes back at HFT accusations, FT says
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06:49 EDTCELGMylan sues Celgene for blocking Thalomid, Revlimid generics, Reuters says
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April 3, 2014
10:00 EDTBXOn The Fly: Analyst Initiation Summary
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09:37 EDTAMGNAmgen to pay GlaxoSmithKline $275M to terminate denosumab collaboration pact
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08:27 EDTAMGNLeerink's biotech analyst holds a dinner meeting update
Biotech Analyst Liang holds an update from the AACR's Annual Meeting to discuss some of the presentations including PFE/AMGN's Palbociclib, PBYI/PFE's Neratinib, as well as other new agents for breast cancer from LLY, MDVN and CLDX, in San Diego on April 7 at 9 pm.
07:53 EDTBXSeaWorld attendance falls 13% as Blackstone reduces stake, Bloomberg says
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07:28 EDTGSSinopec said to select Goldman for $30B unit sale, Bloomberg says
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06:47 EDTNXPINXP Semiconductors price target raised to $76 from $60 at BofA/Merrill
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06:46 EDTBXBlackstone, Carlyle look into bid for Singapore's Goodpack, Reuters says
Blackstone (BX) and Carlyle Group (CG) are considering a bid for Singapore's Goodpack, according to Reuters, citing people familiar with the matter. The sources said both companies had meetings this week with Goodpack, but there is no guarantee a deal with transpire as a result. Reference Link
06:28 EDTCELGAtopic dermatitis could bring upside to Regeneron, Celgene, says Citigroup
Citigroup believes Regeneron's (REGN) dupilumab and Celgene's (CELG) Otezla for atopic dermatitis are being overlooked by investors and could provide upside for both names. Citi believes both drugs have good efficacy but adds that dupilumab is more advanced. The firm has a Buy rating on both stocks.
06:20 EDTYHOOYahoo's goal of raising encryption could clash with advertising, WSJ reports
Yahoo's Chief Information Security Officer Alex Stamos announced new progress on efforts to beef up encryption although he admits there are limits to this encryption, reports the Wall Street Journal. The company could use HTTPS, which would block outsiders from watching data people submit, but Yahoo would then have to persuade every advertising network running ads to use the same encryption. Reference Link
06:17 EDTBXBlackstone initiated with an Outperform at Bernstein
Target $44.
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