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Stock Market & Financial Investment News

News Breaks
August 12, 2014
18:07 EDTCLDNCelladon 4M share Secondary priced at $9.50
Credit Suisse and Jefferies acted as joint book running managers for the offering.
News For CLDN From The Last 14 Days
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April 28, 2015
07:10 EDTCLDNCelladon downgraded to Neutral from Buy at H.C. Wainwright
H.C. Wainwright downgraded Celladon to Neutral after the company announced that its Phase 2b CUPID 2 trial did not meet its primary and secondary endpoints.
April 27, 2015
16:27 EDTCLDNOn The Fly: Top stock stories for Monday
Stocks on Wall Street began the session in positive territory and saw the Nasdaq and S&P 500 briefly hit new all-time highs in the process. By lunch time the Nasdaq and S&P crossed into negative ground while the Dow continued to struggle. The market limped into the close, digesting some of its recent gains, as investors prepared for the next round of earnings reports due out after the close, to be headlined by Apple (AAPL). ECONOMIC EVENTS: In the U.S., Markit's flash services PMI fell 1.4 points to 57.8 in April, versus the consensus forecast for a 59.5 reading. The Dallas Fed's manufacturing index remained weak at -16.0 in April, versus the consensus forecast for a -12.0 reading. In Europe, Spanish Prime Minister Mariano Rajoy lifted his nation's GDP forecast to 2.9% from 2.4% for 2015. COMPANY NEWS: Shares of Deutsche Bank (DB) trading in New York dropped $1.65, or 4.82%, to $32.61 after the bank, along with publishing its quarterly results, unveiled a major strategic overhaul. The bank plans to cut annual costs by another EUR3.5B, reduce the size of its securities business and lower its Postbank holdings next year to sub-50% from 94% by selling shares on the market before reducing its stake to zero in the medium term... Applied Materials (AMAT) and Tokyo Electron announced that they have agreed to terminate their merger agreement after the U.S. Department of Justice advised the parties that the coordinated remedy proposal submitted to all regulators would not be sufficient to replace the competition lost from the merger, leading the companies to determined that there is "no realistic prospect for the completion of the merger." Applied Materials also announced that its board has approved a new share repurchase program authorizing up to $3B in repurchases over the next three years beginning in Q3, but its shares fell $1.83, or 8.42%, to $19.97 following the news. MAJOR MOVERS: Among the notable gainers was iGATE (IGTE), which rose $1.54, or 3.36%, to $47.39 after the company entered into a definitive merger agreement under which Capgemini will acquire IGATE for a cash consideration of $48 per share in a transaction will amount to $4B. Also higher was Tesla Motors (TSLA), which gained $13.04, or 5.97%, to $231.47 after Deutsche Bank analyst Rod Lache wrote in a note to investors that the company's soon to be unveiled electricity storage products may boost the company's results more than the Street expects. Among the noteworthy losers was Celladon (CLDN), which plunged $11.04, or 80.7%, to $2.64 and was downgraded by Street research firms after reporting that its phase 2b trial evaluating a single, one-time, intracoronary infusion of the cardiovascular gene therapy agent Mydicar did not meet its primary and secondary endpoints. Also lower were shares of Akorn (AKRX), which fell $12.27, or 22.21%, to $42.97 after the drugmaker announced late Friday that it will need to further restate its previously issued financial statements for 2014. INDEXES: The Dow fell 42.17, or 0.23%, to 18,037.97, the Nasdaq slid 31.84, or 0.63%, to 5,060.25, and the S&P 500 dropped 8.77, or 0.41%, to 2,108.92.
13:40 EDTCLDNCelladon downgraded to Hold from Buy at Stifel
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12:25 EDTCLDNOn The Fly: Top stock stories at midday
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10:04 EDTCLDNHigh option volume stocks
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10:00 EDTCLDNOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 3D Systems (DDD) downgraded to Hold from Buy at Canaccord... Akorn (AKRX) downgraded to Neutral from Overweight at Piper Jaffray... Allegiant Travel (ALGT) downgraded to Fair Value from Buy at CRT Capital... Altera (ALTR) downgraded to Neutral from Outperform at Baird... Amazon.com (AMZN) downgraded on valuation at Argus... American Science & Engineering (ASEI) downgraded to Sell from Fair Value at CRT Capital... Basic Energy (BAS) downgraded to Underperform from Neutral at Macquarie... C.H. Robinson (CHRW) downgraded to Sell from Neutral at UBS... Celladon (CLDN) downgraded to Neutral from Buy at Roth Capital... DST Systems (DST) downgraded to Neutral from Outperform at Credit Suisse... DeVry (DV) downgraded on weaker than expected outlook at Stifel... Eaton Vance (EV) downgraded to Sell from Neutral at Citigroup... Emerge Energy (EMES) downgraded to Hold from Buy at Wunderlich... FMC Technologies (FTI) downgraded to Accumulate from Speculative Buy at Global Hunter... Fibria Celulose (FBR) downgraded to Underweight from Equal Weight at Morgan Stanley... Forum Energy (FET) downgraded to Neutral at Baird... Gulf Island Fabrication (GIFI) downgraded to Hold from Accumulate at Johnson Rice... Hancock Holding (HBHC) downgraded to Hold from Buy at Drexel Hamilton... Hi-Crush Partners (HCLP) downgraded to Hold from Buy at Wunderlich... Houghton Mifflin (HMHC) downgraded to Neutral from Buy at Citigroup (Friday)... Infosys (INFY) downgraded to Hold from Buy at Deutsche Bank... Marvell (MRVL) downgraded to Hold from Buy at Craig-Hallum... Merge Healthcare (MRGE) downgraded to Hold from Buy at Topeka... Oceaneering (OII) downgraded to Neutral from Buy at Goldman... Omega Healthcare (OHI) downgraded at BofA/Merrill... Perrigo (PRGO) downgraded to Neutral from Buy at UBS... Petrobras (PBR) downgraded to Underweight from Equal Weight at Morgan Stanley... Procter & Gamble (PG) downgraded on lack of upside at CLSA... ResMed (RMD) downgraded to Neutral from Buy at Goldman... Seadrill (SDRL) downgraded to Sell from Neutral at Citigroup... Six Flags (SIX) downgraded to Neutral from Buy at Goldman... Stratasys (SSYS) downgraded to Hold at Canaccord... Telecom Italia (TI) downgraded to Neutral from Buy at BofA/Merrill... Twitter (TWTR) downgraded to Neutral from Buy at SunTrust... United Continental (UAL) downgraded to Fair Value from Buy at CRT Capital... Virgin America (VA) downgraded to Sell from Buy at CRT Capital.
09:36 EDTCLDNActive equity options trading on open
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09:22 EDTCLDNOn The Fly: Pre-market Movers
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08:55 EDTCLDNuniQure should be bought on weakness after Celladon failure, says Roth Capital
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08:17 EDTCLDNbluebird bio, uniQure slide after Celladon trial misses endpoints
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07:21 EDTCLDNCelladon downgraded to Neutral from Outperform at Wedbush
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06:32 EDTCLDNCelladon downgraded to Neutral from Buy at Roth Capital
Roth Capital downgraded Celladon to Neutral with a $2 price target following neagive results for CUPID2 Trial of MYDICAR in advanced heart failure.
06:03 EDTCLDNStocks with implied volatility above IV index mean; CLDN WETF
Stocks with implied volatility above IV index mean; Celladon (CLDN) 419, WisdomTree (WETF) 76 according to iVolatility.
April 26, 2015
17:08 EDTCLDNCelladon reports Mydicar trial did not meet primary and secondary endpoints
Celladon announced that its phase 2b Cupid2 trial did not meet its primary and secondary endpoints. Cupid2 is a randomized, double-blind, placebo-controlled, multinational trial evaluating a single, one-time, intracoronary infusion of the cardiovascular gene therapy agent Mydicar, or AAV1/SERCA2a, versus placebo added to a maximal, optimized heart failure drug and device regimen. In the study, the primary endpoint comparison resulted in a hazard ratio of 0.93, defined as heart failure-related hospitalizations or ambulatory treatment for worsening heart failure. The secondary endpoint comparison, defined as all-cause death, need for a mechanical circulatory support device, or heart transplant, likewise failed to show a significant treatment effect. The efficacy endpoint analyses were performed on the 243 modified intent to treat population, which excludes clinical events that occurred in patients who did not receive Mydicar or placebo, or which occurred prior to dosing. All other exploratory efficacy endpoints were also inconsistent with a treatment effect. No safety issues were noted.
April 24, 2015
05:55 EDTCLDNStocks with implied volatility above IV index mean; CLDN WETF
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April 23, 2015
10:00 EDTCLDNOn The Fly: Analyst Initiation Summary
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06:18 EDTCLDNCelladon initiated with a Market Perform at BMO Capital
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05:58 EDTCLDNStocks with implied volatility above IV index mean; CLDN AMZN
Stocks with implied volatility above IV index mean; Celladon (CLDN) 383, Amazon.com (AMZN) 44 according to iVolatility.
April 22, 2015
13:55 EDTCLDNCelladon May options active into trial outcome
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April 20, 2015
15:11 EDTCLDNCelladon call volume and volatility elevated into trial outcome
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