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Stock Market & Financial Investment News

News Breaks
June 12, 2013
16:20 EDTCTB, GT, LYV, ULTA, HMA, BIIB, VODOn The Fly: Closing Wrap
Stocks on Wall Street were lower despite opening sharply higher as the market looked to avoid its first three day losing streak of the year. Downside momentum quickly took hold however, and the averages moved steadily lower through the session, moving to their lows in the final hour of trading but finishing just off those levels. ECONOMIC EVENTS: In the U.S., the MBA's purchase applications composite index rose 5.0% for the week. The U.S. posted a $139B May budget deficit against expectations for a $130B deficit, and compared to a $124.6B deficit a year ago. In Europe, factory production in the 17-nation euro area rose 0.4% in April from March, compared to expectations for it to remain unchanged. COMPANY NEWS: Cooper Tire (CTB) agreed to be acquired by India's Apollo Tyres for $35.00 per share in cash, or $2.5B. Cooper shares surged $10.10, or 41.12%, to $34.66 to trade near $34.50 following the deal announcement, while peer Goodyear Tire (GT) advanced about 33c, or 2.26%, to $14.93... Live Nation (LYV) shares gained $2.33, or 16.84%, to $16.17 after the company announced it prevailed in an arbitration ruling related to a ticketing license software agreement... MAJOR MOVERS: Among the notable gainers was Ulta Salon (ULTA), up $12.51, or 14.87%, to $96.64 following its quarterly earnings report. Also higher was Health Management (HMA), up $1.58, or 11.34%, to $15.51 after Glenview Capital said in a filing it is seeking to repeal a provision that prevents entities from holding more than 15% of the company's stock and saying it would look to nominate candidates to the company's board. Among noteworthy losers was Biogen (BIIB), down $16.48, or 7.39%, to $206.55 after the stock was downgraded to Neutral from Buy at Citigroup, which cited concerns that EU medical regulators are unlikely to approve the company's multiple sclerosis treatment. Also lower were U.S.-listed shares of Vodafone (VOD), down 71c, or 2.47%, to $28.12 after the company confirmed it approached Kabel Deutschland about a possible deal. INDICES: The Dow was down 126.79, or 0.84%, to 14,995.23; the S&P 500 was down 13.61, or 0.84%, to 1,612.52; the Nasdaq was down 36.52, or 1.06%, to 3,400.43.
News For CTB;GT;LYV;ULTA;HMA;BIIB;VOD From The Last 14 Days
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August 20, 2014
05:20 EDTVODEricsson to upgrade Vodafone Australia network
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August 15, 2014
18:35 EDTBIIBBiogen PLEGRIDY approved in U.S. for treatment of multiple sclerosis
Biogen Idec announced that the FDA has approved PLEGRIDY, a new treatment for people with relapsing forms of multiple sclerosis, or RMS. PLEGRIDY is dosed once every two weeks and can be administered subcutaneously with the PLEGRIDY PEN, a new, ready-to-use autoinjector, or a prefilled syringe. The FDA approval of PLEGRIDY is based on results from one of the largest pivotal studies of beta interferon conducted, ADVANCE, which involved more than 1,500 MS patients.
08:16 EDTCTBCooper Tire, Chengshan Group enter CCT option agreement
Cooper Tire & Rubber Company announced it has entered into an option agreement with Chengshan Group Company Ltd. that affirms and provides additional details regarding the previously announced put and call process to resolve the future ownership of Cooper Chengshan, or CCT, as contemplated by the January 29 agreement among the two companies and the CCT labor union. In addition, the new option agreement extends the option commencement deadline, which is the deadline for the independent valuation firm to deliver its fair market valuation of CCT, to August 24. The process for determining the future ownership of CCT begins with an independent valuation of the fair market value of CCT. Once the valuation is delivered, Chengshan has the first option, within 45 days, to elect to purchase Cooper’s 65% interest, to sell its 35% interest to Cooper, or not to exercise either of these options. If Chengshan determines not to exercise either of the options, Cooper has the right to purchase Chengshan’s 35% interest. In the event that neither party elects to purchase the others’ interest, the joint venture continues as currently structured. Further, should Chengshan purchase Cooper’s stake in the joint venture, Cooper will continue to have offtake rights with CCT agreeing to produce Cooper-brand products, including Truck and Bus Radial tires, for a minimum of three years.
07:01 EDTBIIBIsis Pharmaceuticals earns $2M from advancement of ISIS-SMN from Biogen
Isis Pharmaceuticals (ISIS) announced that it has earned a $2M milestone payment from Biogen (BIIB) related to the advancement of the ongoing open-label extension study of ISIS-SMNRx in children with spinal muscular atrophy.
August 14, 2014
17:16 EDTVODPaulson & Co gives quarterly update on stakes
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12:46 EDTVODHayman Capital gives quarterly update on stakes
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August 12, 2014
08:03 EDTULTAGoldman's Retail selections for Q2
Goldman is most above Q2 consensus for Advance Auto Parts (AAP), Best Buy (BBY) and Williams-Sonoma (WSM), sees best risk/reward in Ulta Salon (ULTA) and Sportsman's Warehouse (SPWH), and low visibility in Dick's Sporting (DKS) and Wal-Mart (WMT).
06:30 EDTVODEricsson deploys its Charging System for Vodafone India
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August 11, 2014
17:47 EDTCTBCooper Tire extends CCT ownership option commencement deadline
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15:23 EDTCTBJPMorgan to hold a conference
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10:50 EDTBIIBBiogen weakness attributed to Forward Pharma IPO filing
Shares of Biogen Idec (BIIB) came off their earlier highs and moved into negative ground in early trading, with some attributing the move lower to another pharmaceutical company, Forward Pharma (FWP), filing its registration statement with the SEC relating to a proposed initial public offering and reporting that Joel Sendek has been appointed CFO. WHAT'S NOTABLE: Forward Pharma focuses on a proprietary formulation of dimethyl fumarate, or DMF, for the treatment of multiple sclerosis. DMF is the Active Pharmaceutical Ingredient, or API, found in Tecfidera, which Biogen Idec began selling for the treatment of RRMS following approval by the FDA in March 2013 and approval by the European Commission in February 2014, Forward Pharma indicated in its IPO filing. In addition to its filing, Forward Pharma announced this morning that it has hired Joel Sendek from Stifel Financial, where he served as Managing Director, Biotechnology and led the firm's healthcare equity research group. PRICE ACTION: Shares of Biogen are down fractionally in mid-morning trading after being up over 1% soon after today's opening bell.
August 8, 2014
10:36 EDTULTAOptions with increasing implied volatility
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August 7, 2014
10:51 EDTBIIBOptions with increasing implied volatility
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10:00 EDTVODOn The Fly: Analyst Downgrade Summary
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07:33 EDTCTBCooper Tire announces accelerated share repurchase program
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07:32 EDTCTBCooper Tire reports Q2 EPS 59c, may not compare to consensus 80c
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06:21 EDTVODVodafone downgraded to Market Perform from Outperform at Raymond James
August 6, 2014
07:19 EDTBIIBAkebia names Brad Maroni as Chief Medical Officer
Akebia Therapeutics (AKBA) announced the expansion of its senior management team with three key additions: Brad Maroni, M.D., as Senior Vice President and Chief Medical Officer, Mark De Rosch, Ph.D., as Vice President of Regulatory Affairs and Tamara Dillon as Vice President of Human Resources. Maroni most recently served as Vice President, Medical Research at Biogen Idec (BIIB).
06:06 EDTLYVStubHub launching Music app nationwide, AP reports
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