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Stock Market & Financial Investment News

News Breaks
June 19, 2014
17:42 EDTCELGCelgene looks like a buy, Barron's says
Celgene looks like a buy due to stock split and buyback as well as its long-term EPS expectations, Barron's argues in its "Barron's Take" column. Reference Link
News For CELG From The Last 14 Days
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July 1, 2015
16:10 EDTCELGDoctor failed to disclose Celgene payment to medical journal, Bloomberg reports
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June 30, 2015
12:57 EDTCELGOn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday as headlines about Greece once again dominate the news flow. Hopes that Greece may still reach a last-minute deal with its creditors were attributed for the market's early bounce, though optimism and the averages have been dropping as the day continues. ECONOMIC EVENTS: In the U.S., Case-Shiller 20-city composite home price index for April rose by a seasonally adjusted 0.3% month over month, versus the consensus forecast for an increase of 0.8%. The Chicago PMI jumped 3.2 points to 49.4 in June, though that was below the expected reading of 50.0. The Conference Board's consumer confidence index rose to 101.4 in June from a revised 94.6 reading for May, beating expectations for a reading of 97.4. In Europe, Greece's government submitted a proposal for a deal with the eurozone bailout fund to cover its debt repayments due between 2015 and 2017. Jeroen Dijsselbloem said eurozone finance ministers will discuss the Greek request in a conference call tonight, but German Chancellor Angela Merkel reportedly said that no new negotiations should take place before Greek holds its scheduled referendum. COMPANY NEWS: Shares of Pentair (PNR) advanced 5.5% after activist investor Nelson Peltz's Trian Group confirmed it has taken a 7.24% stake in the company. Trian noted it has met with the company’s senior management and communicated its view that the company can create significant value for its shareholders by facilitating "prudent industry consolidation" through accretive mergers and acquisitions as well as by making other changes, such as communicating its results as "cash" EPS... Another company in the sights of an activist, ConAgra (CAG), rose 1.5% after reporting first quarter results that were roughly in-line with expectations while also announcing that plans to exit Private Brands operations. ConAgra CEO Sean Connolly said during the associated call that he wants "constructive conversation" with Jana Partners, which reported earlier this month that it has taken a 7.2% stake in the packaged foods company and is prepared to seek three ConAgra board seats, if necessary, to help the board evaluate and address opportunities for shareholder value creation. MAJOR MOVERS: Among the notable gainers was Juno Therapeutics (JUNO), which jumped 19% after the company announced a ten-year global collaboration for the development and commercialization of immunotherapies with Celgene (CELG). As part of the deal, Celgene will make an initial payment of approximately $1B, which includes the purchase of approximately 9.1M shares of Juno stock at $93 per share. Also higher was TreeHouse Foods (THS), which gained 9% after peer ConAgra announced plans to exit its private brands operations. Among the noteworthy losers was Apollo Education (APOL), which dropped 16.5% and was downgraded at Bank of America Merrill Lynch after the for-profit education company reported higher than expected Q3 earnings but lowered its fiscal 2015 guidance. Also lower were shares of Tuesday Morning (TUES), which fell 13% after announcing that its CFO Jeffrey Boyer has resigned his position to take the same role with Pier 1 Imports (PIR). INDEXES: Near midday, the Dow was down 3.77, or 0.02%, to 17,592.58, the Nasdaq was up 11.24, or 0.23%, to 4,969.71, and the S&P 500 was flat near 2,057.81.
09:05 EDTCELGCelgene may eventually acquire Juno, says Canaccord
Canaccord noted the deal between Celgene (CELG) and Juno Therapeutics (JUNO) and said the current deal structure may mean 2020 earnings may have to be adjusted lower as some of the company's programs are not eligible for a 50/50 split. Canaccord said Celgene may simply buy the rest of Juno to gain 100% of all the programs worldwide and reiterated its Buy rating and $156 price target on Celgene shares.
08:59 EDTCELGLion Biotech has positive read through from Celgene deal, says Roth Capital
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08:53 EDTCELGJuno Therapeutics price target raised to $83 from $66 at JPMorgan
JPMorgan raised Overweight rated Juno Therapeutics' (JUNO) price target to $83 from $66 following the announcement of a 10 year collaboration with Celgene (CELG). The firm said the partnership between the companies will be stronger than either single company or two separate entities.
08:08 EDTCELGCelgene deal positive, says JMP Securities
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07:47 EDTCELGCelgene paid high price for CAR T access, says Bernstein
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07:32 EDTCELGJuno pact leaves Celgene set for growth past Revlimid, says Deutsche Bank
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07:14 EDTCELGCelgene deal with Juno Therapeutics probably good, says UBS
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07:11 EDTCELGCelgene deal solidifies position in oncology, says Cantor
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07:03 EDTCELGCelgene leaps forward in immuno-oncology with Juno deal, says Piper Jaffray
Piper Jaffray analyst Joshua Schimmer said that Celgene (CELG) effectively spent $1B to buy into adoptive T cell therapy and own all of Juno Therapeutics' (JUNO) opportunities outside the U.S., leaping the company into a leading position in the immuno-oncology space. Schimmer additionally thinks Celgene's transaction should help boost investor confidence about the utility and value of CAR and TCR therapies, noting that he sees Bellicum Pharmaceuticals (BLCM), Cellectis (CLLS), Lion Biotechnologies (LBIO), bluebird bio (BLUE) and the Amgen (AMGN)-Kite Pharma (KITE) partnership as best positioned to compete in this rapidly advancing field. The analyst keeps an Overweight rating and $144 price target on Celgene.
07:03 EDTCELGJuno volatility low into announcing immunotherapy collaboration with Celgene
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June 29, 2015
19:01 EDTCELGOn The Fly: After Hours Movers
HIGHER: Juno Therapeutics (JUNO), up 38.4% after announcing immunotherapy collaboration with Celgene (CELG)... Kite Pharma (KITE) and Lion Biotechnologies (LBIO) are up 8.7% and 5.7% respectively, following Juno's collaboration with Celgene. DOWN AFTER EARNINGS: CHC Group (HELI), down 8%... Apollo Education (APOL), down 6.2%. ALSO LOWER: EnteroMedics (ETRM), down 12.4% after filing to sell common stock and warrants... Celgene (CELG), down 1% after Juno announces immunotherapy collaboration.
18:09 EDTCELGJuno surges after Celgene collaboration, CAR-T peers follow
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16:09 EDTCELGCelgene, Juno Therapeutics announce ten year collaboration
Celgene (CELG) and Juno Therapeutics (JUNO) announced a global collaboration for the development and commercialization of immunotherapies. The two companies will leverage T cell therapeutic strategies to develop treatments for patients with cancer and autoimmune diseases with an initial focus on Chimeric Antigen Receptor Technology and T Cell Receptor technologies. Under the terms of the collaboration, Celgene has the option to be the commercialization partner for Juno’s oncology and cell therapy auto-immune product candidates, including Juno’s CD19 and CD22 directed CAR-T product candidates. B-Cell Maturation Antigen is excluded as a target in this collaboration. Under the terms of the collaboration, Celgene has the option to be the commercialization partner for Juno’s oncology and cell therapy auto-immune product candidates, including Juno’s CD19 and CD22 directed CAR-T product candidates. B-Cell Maturation Antigen is excluded as a target in this collaboration. For Juno-originated programs co-developed under the collaboration: Juno will be responsible for research and development in North America and will retain commercialization rights in those territories; Celgene will be responsible for development and commercialization in the rest of the world, and will pay Juno a royalty on sales in those territories; and Celgene has certain co-promotion options: Celgene will initially be eligible to select two programs, excluding CD19 and CD22, to be subject to a global profit sharing agreement under which the companies will share worldwide expenses and profits equally, except in China; and Additionally, subject to additional obligations, Celgene may select a third program. Juno will have the option to enter into a co-development and co-commercialization agreement on certain Celgene-originated development candidates that target T Cells. For any such Celgene-originated programs co-developed under the collaboration: The parties will share global costs and profits with 70% allocated to Celgene and 30% allocated to Juno; and Celgene will lead global development and commercialization, subject to a Juno co-promote option in the US and certain EU territories. Upon closing, Juno will receive an upfront payment of approximately $150M, and in addition Celgene will purchase 9,137,672 shares of Juno’s common stock at $93.00 per share. In conjunction with this stock purchase: Celgene will receive the right to nominate a member to Juno’s board of directors; During the 10-year term of the collaboration, Celgene will have the right to purchase additional equity in Juno during specified windows and at specified market premiums subject to satisfaction of certain conditions by each party including Juno opting in on select Celgene programs, such that, at a maximum, Celgene could own up to 30% of Juno’s common stock then outstanding; and Celgene has entered into a standstill agreement and agreed to certain lock-up provisions on its share ownership. This transaction has been approved by the boards of directors of both companies. Celgene and Juno currently expect to complete the transaction during the third quarter of 2015, subject to the expiration or termination of applicable waiting periods under all applicable antitrust laws and satisfaction of other usual and customary closing conditions.
16:08 EDTCELGJuno jumps 45% after announcing immunotherapy collaboration with Celgene
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16:07 EDTCELGCelgene, Juno Therapeutics announce ten year collaboration
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June 26, 2015
11:32 EDTCELGCelgene looks to protect itself from Kyle Bass patent challenges, WSJ says
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June 17, 2015
07:32 EDTCELGCelgene announces additional $4B share repurchase authorization
Celgene Corporation announced that during its June meeting the company's Board of Directors authorized the repurchase of up to an additional $4B of the company's common stock. This open-ended program is effective immediately. Purchases may be made in the open market or in privately negotiated transactions from time to time, as determined by Celgene's management and in accordance with the requirements of the Securities and Exchange Commission. Celgene now has a total of approximately $5.2B remaining from previous authorizations plus the new authorization. Since 2009, Celgene has returned approximately $12.3B to shareholders through the repurchase program.

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