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Stock Market & Financial Investment News

News Breaks
January 10, 2014
10:20 EDTCHTP, SHPGChelsea falls after FDA staff call droxidopa approval decision 'complex'
Shares of Chelsea Therapeutics (CHTP) are sharply lower in early trading after the FDA posted briefing documents related to a review of a resubmission for the company's droxidopa drug. The documents are related to a cardiovascular and renal drug advisory committee meeting scheduled for January 14. WHAT'S NEW: Chelsea Therapeutics is seeking approval of droxidopa for “the treatment of symptomatic neurogenic orthostatic hypotension in patients with primary autonomic failure, which includes Parkinson’s Disease, Multiple System Atrophy and Pure Autonomic Failure, as well as to treat two other conditions. In the document, FDA staff wrote that the decision whether or not to approve droxidopa is "complex," noting that strong evidence from one clinical trial indicates that droxidopa confers "at least one week of symptomatic benefit," but also that there has been no durable effect, i.e., more than 1 week, demonstrated for droxidopa. The document also notes that Shire (SHPG), the sponsor of midodrine, an approved drug for symptomatic orthostatic hypotension, is currently being tasked with completing 2 adequate and well controlled trials to demonstrate that drug’s symptomatic benefit. The document also states that there were "numerous concerning safety findings" related to droxidopa. PRICE ACTION: In morning trading, shares of Chelsea Therapeutics are down over 29% to $2.50. Reference Link
News For CHTP;SHPG From The Last 14 Days
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July 16, 2014
07:59 EDTSHPGTreasury Secretary urges Congress to take action on tax inversions
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05:53 EDTSHPGStocks with implied volatility below IV index mean; LO SHPG
Stocks with implied volatility below IV index mean; Lorillard (LO) 21, Shire (SHPG) 31 according to iVolatility.
05:47 EDTSHPGStocks with implied volatility movement; SHPG XLP
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July 15, 2014
10:37 EDTSHPGOptions with decreasing implied volatility
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06:04 EDTSHPGStocks with implied volatility below IV index mean; BBBY SHPG
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July 14, 2014
16:30 EDTSHPGOn The Fly: Closing Wrap
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16:18 EDTSHPGShire shareholders should support latest AbbVie offer, Telegraph says
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10:00 EDTSHPGOptions with decreasing implied volatility: SHPG INFY CWH FDO IDIX FAST
09:55 EDTSHPGHigh option volume stocks: PTEN MFRM GTIV SHPG IMMR
09:16 EDTSHPGOn The Fly: Pre-market Movers
HIGHER: Citigroup (C), up 3.6% after reporting better than expected Q2 results, announcing $7B settlement with DOJ and FDIC... Apple (AAPL), up 0.7% after Barclays upgrades stock to Overweight, Morgan Stanley raises Apple estimates above consensus... Shire (SHPG), up 1.6% after receiving revised proposal from AbbVie (ABBV) of GPB 53.20 per share, which it says it would be willing to recommend to Shire shareholders. AbbVie is down 2.8% after the news... Mylan (MYL), up 4% after acquiring Abbott's (ABT) non-U.S. developed markets specialty and branded generics business in all-stock transaction valued at about $5.3B. Abbott up 1.6% after the news... Progenics (PGNX), up 13% after FDA says RELISTOR can be approved on data submitted in sNDA... Exelixis (EXEL), up 13% after announcing coBRIM Phase 3 trial met primary endpoint... URS (URS) up 8% after acquired by AECOM Technology (ACM) for $56.31 per share. AECOM shares alos up 2% after deal announcement... Whiting Petroleum (WLL), up 4.5% after agreeing to acquire Kodiak Oil & Gas (KOG) in a $6B transaction. Kodiak Oil & Gas up 3%... Kandi Technologies (KNDI), up 11% after announcing JV's sale of 4,114 EVs in Q2. LOWER: Riverbed (RVBD), down 4.5% after saying it sees its Q2 adjusted EPS at low end of 26c-28c range... Harmonic (HLIT), down 13% after reporting preliminary Q2 earnings results.. EBay (EBAY), down 0.5% after downgraded at Pacific Crest, confirming partnership plans with Sotheby's (BID).
06:03 EDTSHPGStocks with implied volatility below IV index mean; BBBY SHPG
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05:27 EDTSHPGShire receives revised proposal from AbbVie of GPB 53.20 per share
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July 13, 2014
17:10 EDTSHPGShire said to seek bid of near 53 pounds per share from AbbVie, Reuters says
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July 11, 2014
16:46 EDTSHPGStocks end week lower on European, Fed concerns
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14:13 EDTSHPGShire, AbbVie didn't commit to further talks, Dow reports
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13:58 EDTSHPGShire confirms meeting with AbbVie representatives
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11:54 EDTSHPGAbbVie, Shire in active takeover talks, Bloomberg reports
AbbVie (ABBV) and Shire (SHPG) are in active talks about a potential merger after AbbVie raised its takeover offer for a fourth time, Bloomberg reports, citing people with knowledge of the matter. The talks are in the early stage and may not lead to an agreement, sources told Bloomberg. Shares of Shire are up 5%, or $12.04, to $250.65 following the report.
11:34 EDTSHPGShire jumps 5% after Bloomberg report on talks with AbbVie
11:33 EDTSHPGShire, AbbVie held talks after latest raised takeover offer, Bloomberg says
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July 10, 2014
09:40 EDTSHPGAbbVie, Shire not holding talks at this point as deadline approaches, CNBC says
AbbVie (ABBV) and Shire (SHPG) are not holding talks at this point, according to CNBC's David Faber, citing sources. Shire confirmed two days ago that it has received AbbVie's latest, raised takeover offer and that its board will meet to consider the proposal.
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