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Stock Market & Financial Investment News

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May 12, 2014
04:55 EDTCMRX, CMRX, CMRX, CMRX, CMRX, CMRX, PFE, PFE, PFE, PFE, PFE, PFE, GILD, GILD, GILD, GILD, GILD, GILD, GSK, GSK, GSK, GSK, GSK, GSK, BMY, BMY, BMY, BMY, BMY, BMY, RHHBY, RHHBY, RHHBY, RHHBY, RHHBY, RHHBY, AZN, AZN, AZN, AZN, AZN, AZN, SRPT, SRPT, SRPT, SRPT, SRPT, SRPTInternational Society for Antiviral Research to hold a conference
27th International Conference on Antiviral Research to be held in Raleigh, North Carolina on May 12-17.
News For CMRX;PFE;GILD;GSK;BMY;RHHBY;AZN;SRPT From The Last 14 Days
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July 11, 2014
15:59 EDTGILDOptions Update; July 11, 2014
iPath S&P 500 VIX Short-Term Futures down 33c to 28.25. Option volume leaders: AAPL C GILD X FB GOOG AMZN TWTR TSLA according to Track Data.
09:48 EDTGILDSenators make new request to Gilead for Sovaldi pricing details
Senate Finance Committee Chairman Ron Wyden and senior Finance Committee member Chuck Grassley made public their request for detailed pricing information on Gilead's Sovaldi, a Hepatitis C virus drug. Wyden and Grassley have asked Gilead Sciences for information about Sovaldi, a drug developed to treat and cure HCV, they disclosed, stating, “Given the impact Sovaldi’s cost will have on Medicare, Medicaid and other federal spending, we need a better understanding of how your company arrived at the price for this drug." Reference Link
09:21 EDTSRPTRW Baird remains bullish on Sarepta after 144 week DMD data
Baird said Sarepta's 144 week data for eteplirsen did not necessarily help reinforce its NDA filing, but the firm still thinks the drug's ability to delay disease progression is demonstrated by the data. The firm maintains its bullish view of the stock and keeps an Outperform rating and $53 price target on Sarepta.
07:37 EDTGILDAmerican Enterprise Institute holds a discussion
Discussion entitled, "How Will We Pay for Cost of Cures" focuses on improving the development of transformative medicines and developing financing mechanisms to pay for them and is being held in Washington, D.C. on July 11 at 8 am. Webcast Link
07:36 EDTGILDJohnson & Johnson Q2 EPS likely to exceed expectations, says Bernstein
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July 10, 2014
16:25 EDTSRPTOn The Fly: Closing Wrap
Stocks on Wall Street began the session deep in negative territory, as fears about the health of one of Portugal’s largest banks, coupled with weak economic data out of Italy, prompted a sell-off in Europe, which spilled over to the U.S. The major averages moved generally higher after the open, though the early losses proved too much to overcome. The reignited fears about Europe's periphery come just as the U.S. corporate earnings season is set to pick up in earnest next week. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped 11K to 304K in the week ended July 5. Wholesale inventories rose 0.5% in May, while sales edged up 0.7%, which were both a little below expectations. In Europe, concerns about the periphery rose again as the parent company of Portugal's Espirito Santo bank missed a debt payment, leading the country's interest rates higher and equities in the Eurozone lower. Also, Italy's industrial output saw its steepest monthly fall since late 2012, having dropped 1.2% in May. In China, trade performance improved in June but still missed market forecasts. Exports rose 7.2% in June from a year earlier, missing the consensus forecast for a rise of 10.6%, while imports grew 5.5% in the month, versus the 5.8% growth expectation. COMPANY NEWS: Shares of Verizon (VZ) advanced 74c, or 1.51%, to $49.64 to lead the handful of gainers on the Dow Jones Industrial Average. The rise came after Verizon CEO Lowell McAdam said in an interview on CNBC that his company added over 1.4M postpaid subscribers in Q2, with "record" tablet growth and "very strong" smartphone growth. Afterward, Wells Fargo said in a note to investors that the net adds were higher than the firm's recently increased estimate and above Street consensus... Conversely, Home Depot (HD) was the Dow's worst performer, falling $1.33, or 1.65%, to $79.40. After hardwood floors retailer Lumber Liquidators (LL) and farm products retailer Tractor Supply (TSCO) pre-announced weaker than expected Q2 results, Deutsche Bank analyst Mike Baker reduced his estimates for Home Depot and peer Lowe's (LOW), explaining that the comparative sales of those two large home improvement retailers have historically had a positive correlation with those of Tractor Supply and Lumber Liquidators. MAJOR MOVERS: Among the notable gainers was AmREIT (AMRE), which rose $3.25, or 16.93%, to $22.45 after Regency Centers (REG) offered to acquire the company for $22 per share, payable in cash and/or stock. Also higher was Cray (CRAY), which rallied $4.27, or 15.69%, to $31.49 after the company announced it has been awarded a $174M supercomputer deal from the National Nuclear Security Administration. Among the noteworthy losers was sandwich maker Potbelly (PBPB), which plunged $3.68, or 25.12%, to $10.97 after the company's second quarter and fiscal 2014 outlook fell significantly short of analysts' consensus estimates. Also lower was Sarepta Therapeutics (SRPT), which sunk $3.35, or 12.94%, to $22.54 after the company announced data through week 144 from its eteplirsen study in patients with Duchenne muscular dystrophy. INDEXES: The Dow dropped 70.54, or 0.42%, to 16,915.07, the Nasdaq fell 22.83, or 0.52%, to 4,396.20, and the S&P 500 declined 8.15, or 0.41%, to 1,964.68.
14:11 EDTSRPTSarepta added to the short-term buy list at Deutsche Bank
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13:28 EDTSRPTSarepta price target lowered to $34 from $52 at Roth Capital
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12:43 EDTBMYBristol-Myers announces plans for Q3 submission of Opdivo BLA
Bristol-Myers Squibb announced earlier that, following discussions with the FDA, the company is planning a Q3 submission of a Biologics Licensing Application for Opdivo for previously treated advanced melanoma. This will mark the second tumor type for which Bristol-Myers Squibb has a regulatory submission underway for Opdivo in the U.S. “We continue to collaborate closely with the FDA on Opdivo and the planned submission in advanced melanoma represents an important step forward in our company’s commitment to deliver innovative treatment options for patients with cancer,” said Michael Giordano, MD, Head of Oncology Development, Bristol-Myers Squibb. The advanced melanoma BLA is based on data from Checkmate -037, a multinational, multicenter, randomized open-label Phase 3 trial evaluating Opdivo compared to dacarbazine or carboplatin/paclitaxel in patients with unresectable or metastatic melanoma who have been previously treated with Yervoy and, if BRAF-mutation positive, a BRAF inhibitor regimen. Bristol-Myers Squibb has proposed the name Opdivo, which, if approved by health authorities, will serve as the trade name for nivolumab.
12:38 EDTSRPTSarepta potential for near-term approval lower after update, says Piper Jaffray
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11:52 EDTSRPTJanney Capital reiterates Sell rating on Sarepta
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11:50 EDTSRPTSarepta story correction issued by Wall Street Journal
The Wall Street Journal reported that its prior story, entitled "Sarepta to Submit Study on Muscular Dystrophy Drug to FDA Later Than Expected," at 9:12 a.m. EDT incorrectly suggested the decision to delay the application was unveiled Thursday. The Journal noted in its correction that the delay was previously reported. Reference Link
11:15 EDTSRPTSarepta shares defended at Stifel
11:09 EDTSRPTOptions with increasing implied volatility
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10:54 EDTSRPTSarepta shares defended at Needham
Needham said Sarepta weakness is unjustified and due to a confusing, inaccurate Wall Street Journal article that says the eteplirsen NDA is delayed. THe analyst said Sarepta maintains the NDA will be filed by 2014 year end and reiterates its Buy rating and $52 price target.
10:02 EDTRHHBYRoche unit, Merck KGaA to develop companion test for cancer treatment
Ventana Medical Systems, a member of the Roche Group (RHHBY), announced it has entered into an agreement with Merck KGaA (MKGAY), which operates as EMD Serono in the United States and Canada, to collaborate with Merck KGaA's biopharmaceutical division on the development and commercialization of a companion diagnostic for an undisclosed target using Ventana's proprietary diagnostic assays.
10:02 EDTSRPTSarepta tumbles, levels to watch
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08:34 EDTSRPTSarepta plans to submit long-term eterplirsen results as part of NDA by year-end
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08:32 EDTSRPTSarepta says on track to initiate several new studies of eteplirsen
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08:32 EDTSRPTSarepta reports long-term outcomes from Phase IIb Eteplirsen study
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