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Stock Market & Financial Investment News

News Breaks
April 29, 2014
07:48 EDTICLR, Q, CVD, AZN, PRXL, CRL, PFECROs sold off on unknowns from potential merger, says Jefferies
Jefferies attributes yesterday's sell-off in the Contract Research Organization space to the potential merger between Pfizer (PFE) and AstraZeneca (AZN) and the fear or other large pharma deals. The firm believes current share levels will prove attractive entry points over a three-year time frame. It notes Charles River Labs (CRL) and PAREXEL (PRXL) have the greatest exposure to the potential takeover of AstraZeneca while Covance (CVD) is less exposed. Other names in the CRO sector include ICON plc (ICLR) and Quintiles (Q).
News For CRL;CVD;ICLR;PRXL;Q;PFE;AZN From The Last 14 Days
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July 28, 2015
07:20 EDTAZN, PFEBrookings Institute to hold a public meeting
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07:18 EDTPFEPfizer raises FY15 adjusted EPS view to $2.01-$2.07, consensus $2.04
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07:17 EDTPFEPfizer reports Q2 innovative products revenue $6.63B, up 8%
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07:02 EDTPFEPfizer reports Q2 EPS adjusted 56c, consensus 52c
Reports Q2 revenue $11.9B, consensus $11.42B.
06:04 EDTICLRICON plc announces expanded share repurchase program of up to $400M
In addition to the $58M of shares repurchased year to date, the company’s board has approved a further expansion of the share repurchase programme of up to $400M which will be funded using committed financing and cash on hand.
06:04 EDTICLRICON plc raises FY15 EPS to $3.90-$4.00 from $3.60-$3.70, consensus $3.67
Raises FY15 revenue to $1.6B-$1.65B from $1.57B-$1.6B, consensus $1.63B. Expects strong margin performance to continue and backlow conversion is lower than forecast.
06:02 EDTICLRICON plc reports Q2 EPS 95c, consensus 89c
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July 27, 2015
18:30 EDTPFEAllergan CEO pursuing 'transformational deals,' FT says
In a Financial Times interview following the sale of its generics unit to Teva (TEVA), Allergan's (AGN) CEO Brent Saunders stated, "We’re going to contemplate transformational deals... We couldn’t before because of our capital structure and debt, but now we can." When asked about the timing of a potential deal, Saunders remarked, "We’re not going to plod along," and when asked about a hypothetical takeover by Pfizer (PFE), the CEO commented, "I spend zero time thinking about Pfizer and I am not doing anything to make us more or less attractive to them." Reference Link
16:00 EDTPFEOptions Update; July 27, 2015
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15:03 EDTPFENotable companies reporting before tomorrow's open
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12:36 EDTPFEEarnings Watch: Pfizer shares nearly flat since last earnings report
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05:25 EDTAZNGenzyme acquires Caprelsa from AstraZeneca for $300M
Genzyme, a Sanofi (SNY) company, announced that it has entered into a definitive agreement with AstraZeneca (AZN) to acquire Caprelsa, a rare disease therapy, indicated for the treatment of symptomatic or progressive medullary thyroid carcinoma in patients with unresectable locally advanced or metastatic disease. Caprelsa is an oral kinase inhibitor treatment and is currently available in 28 countries. Caprelsa is in Phase III development for differentiated thyroid carcinoma, with the study expected to finish in the second half of 2015. Under the terms of the agreement, Genzyme will pay AstraZeneca up to $300M, including an upfront payment of $165M to acquire the global rights to sell and further develop Caprelsa, and further development and sales milestone payments of up to $135M. The transaction does not include the transfer of any AstraZeneca employees or facilities.
July 24, 2015
17:33 EDTPRXLS&P announces changes to S&P 400, 500, and 600 indices
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17:19 EDTPRXLEnanta to replace PAREXEL in S&P 600 as of 7/28 close
17:18 EDTPRXLPAREXEL to replace Signet Jewelers in S&P 400 as of 7/28 close
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July 22, 2015
13:58 EDTAZNPiper cuts Array target by only 50c after failed trial
Piper Jaffray analyst Edward Tenthoff says selumetinib for Uveal Melanoma is a small indication and represented only a small part of his valuation for Array BioPharma (ARRY). As such, after partner AstraZeneca (AZN) announced that selumetinib failed in the Phase III trial, the analyst cut his price target for Array by only 50c to $14.50. The primary drivers for Array remain binimetinib and encorafenib in NRAS and BRAF melanoma and low-grade serous ovarian cancer, the analyst tells investors in a research note. He keeps an Overweight rating on the stock.
09:07 EDTAZNOn The Fly: Pre-market Movers
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08:32 EDTPFEPfizer expands lease agreement with MIT subsidiary
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05:12 EDTAZNAstraZeneca says Phase 3 study of selumetinib did not meet primary endpoint
AstraZeneca (AZN) announced that the Phase 3 SUMIT study of selumetinib in combination with dacarbazine for the treatment of patients with metastatic uveal melanoma did not meet its primary endpoint of progression free survival. This combination therapy showed an adverse event profile generally consistent with current knowledge of the safety profiles of dacarbazine and selumetinib. A full evaluation of the data is ongoing. Selumetinib is a MEK inhibitor in late-stage development, with a primary Phase 3 program in second-line KRAS-mutant advanced non-small cell lung cancer in combination with docetaxel. Selumetinib is also being investigated in a Phase 3 study in differentiated thyroid cancer and in a Phase 2 registration study in patients with neurofibromatosis Type 1. Selumetinib is an oral small molecule MEK inhibitor invented by Array BioPharma (ARRY) and licensed to AstraZeneca in 2003.
July 21, 2015
08:04 EDTPFEPfizer launches Caltrate Bone & Joint Health supplement
Pfizer Consumer Healthcare announced the launch of Caltrate Bone & Joint Health, a 3-in-1, triple action product that delivers UC-II, an exclusive form of collagen, to support healthy cartilage and promote joint flexibility, calcium and vitamin D3, to nourish strong and healthy bones, and vitamin C and minerals to support collagen production for healthy bones and skin.
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