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Stock Market & Financial Investment News

News Breaks
January 14, 2014
10:25 EDTCVD, CVD, EBS, EBS, CI, CI, BSX, BSX, BMY, BMY, AMGN, AMGN, ABT, ABT, HNT, HNT, SHPG, SHPG, REGN, REGN, PDCO, PDCO, VRTX, VRTXJPMorgan to host a conference
32nd Annual Healthcare Conference is being held in San Francisco on January 13-16 with webcasted company presentations to begin on January 14 at 10:30 am; not all presentations may be webcasted. Webcast Link
News For CVD;PDCO;REGN;SHPG;HNT;ABT;AMGN;BMY;BSX;CI;EBS;VRTX From The Last 14 Days
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July 20, 2015
12:09 EDTBMYBristol-Myers says Nivolumab BMS approved in EU for SQ NSCLC
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12:08 EDTBMYOn The Fly: Top stock stories at midday
Stocks on Wall Street were slightly higher at midday in the first trading day of a week that will be light on domestic economic data but heavy on earnings reports. Investors will be receiving profit reports from about 25% of the companies on the S&P 500 this week, making this the highest volume earnings week of this season. ECONOMIC EVENTS: In the U.S., no major data was released. In Europe, Greece reopened its banks three weeks after closing as the country worked out another bailout agreement. The country announced it has started the process of paying off its creditors, including the European Central Bank and the International Monetary Fund, with a bridge loan it just received. COMPANY NEWS: Lockheed Martin (LMT) agreed to buy the Sikorsky Aircraft business from United Technologies (UTX) for $9B, noting the price is "effectively reduced" to $7.1B after taking into account tax benefits resulting from the transaction. Shares of Lockheed, which also reported better than expected second quarter results and increased its fiscal year guidance, gained nearly 2% after the Sikorsky announcement and saying it will conduct a strategic review of its government IT infrastructure services business and technical services business... Shares of Morgan Stanley (MS) shares were little changed near noon after the bank reported earnings and revenue, excluding certain adjustments, that topped analysts' consensus forecasts... SunEdison (SUNE) announced a deal to acquire Vivint Solar (VSLR) for approximately $2.2B, payable in a combination of cash, shares of SunEdison common stock and SunEdison convertible notes. In connection with the proposed acquisition of Vivint Solar, SunEdison has entered into a definitive purchase agreement with a subsidiary of TerraForm Power (TERP) which, concurrently with the completion of SunEdison's acquisition of Vivint, will acquire Vivint Solar's rooftop solar portfolio, consisting of 523 MW expected to be installed by year-end 2015, for $922M in cash. Shares of Vivint rose 44% following the announcement, while SunEdison's stock gained 4% and TerraForm dropped 3%. Fellow residential solar installer SolarCity (SCTY), which is backed by Tesla's (TSLA) Elon Musk, rose 7% following the deal in the space. MAJOR MOVERS: Among the notable gainers was Exelixis (EXEL), which rallied 43% after the company reported that a study of cabozantinib in metastatic renal cell carcinoma met its primary endpoint of significant improvement in progression-free survival. The shares were indicated to rise even more in early pre-market trading, but lost some of their gains after Bristol-Myers (BMY) announced that its Opdivo study was stopped early after showing superior overall survival in a Phase 3 study of previously treated patients with advanced or metastatic renal cell carcinoma. Bristol-Myers rose a bit less than 1% to trade near $70 per share after its own announcement. Also higher was PayPal (PYPL), which gained more than 5.5% in its first day of trading after being spun out of eBay (EBAY). Meanwhile, eBay shares rose over 2%. Cal-Maine Foods (CALM) dropped 8% after posting lower than expected sales and profits in its fourth quarter and warning that while it should have an adequate supply of its primary feed ingredients, the company expects that prices will be "volatile" in the year ahead. Also lower were shares of several gold miners, including Barrick Gold (ABX) and Newmont Mining (NEM), which each fell about 11%, as gold prices declined about 2% near midday. INDEXES: Near midday, the Dow was up 31.66, or 0.18%, to 18,118.11, the Nasdaq was up 9.81, or 0.19%, to 5,219.96, and the S&P 500 was up 2.82, or 0.13%, to 2,129.46.
09:08 EDTBSXBoston Scientific begins study of resorbable drug-eluting scaffold system
Boston Scientific has initiated a study of the company's first fully resorbable drug-eluting scaffold system. The Fully Absorbable Scaffold Feasibility Study, or FAST, is a prospective, single arm study designed to assess the safety and performance of this next generation scaffold for the treatment of atherosclerotic coronary lesions.
09:02 EDTABTAbbott receives FDA approval and launches iDesign Advanced WaveScan system
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08:38 EDTABTAnalyst predicts Zoetis merges with Bayer unit, not Valeant
Zoetis (ZTS) in recent months has been the subject of takeover speculation, possibly for Valeant (VRX), but a Jefferies analyst told investors today in a research note that he views a deal with a unit of healthcare giant Bayer (BAYRY) as "highly likely" for the animal medicine company. BACKGROUND: Bill Ackman of Pershing Square, who owns stakes in both Zoetis and Valeant, said in early May while speaking on CNBC that Zoetis is a "great” business on a standalone basis, but he also spoke of the company's strategic value. Ackman added, however, that he was "not sure" that Valeant was the best acquirer of Zoetis. Subsequently, in late June, The Wall Street Journal reported that Valeant made a preliminary approach regarding a potential deal to buy Zoetis. CNBC's David Faber said the next day, citing his own sources, that Valeant reached out to Zoetis as a courtesy to common shareholder Ackman and was unlikely to pursue an acquisition of the company, though he cautioned then Valeant could change its approach and pursue a deal. BAYER: Jefferies analyst Jeffrey Holford said in a note today that he views a tie-up between Zoetis and Bayer's Animal Health business in 2016 as "highly likely." He sees Mylan's (MYL) acquisition of Abbott's (ABT) non‑U.S. developed markets specialty and branded generics business as a potential proxy for how a transaction could be structured, adding that such a "spinversion" could achieve up to 36% long-term earnings accretion for Zoetis. Holford reiterated a Buy rating on Zoetis with a $60 price target, while downgrading Bayer to Hold, citing valuation following the recent outperformance of its shares. IDEXX: While being discussed as a target, some analysts have also opined on companies that Zoetis could pursue as a buyer. On June 29, Canaccord said that in investor meetings with IDEXX (IDXX) executives declined to comment on Zoetis' potential interest in scaling up its animal health diagnostics business. Canaccord added that it thought Zoetis could make a bid for IDEXX. The firm reiterated its Buy rating and $80 price target on IDEXX shares at that time. PRICE ACTION: Since June 25, the day the Journal first reported on Valeant's preliminary takeover approach to Zoetis, the animal health company's shares have dropped nearly 4%. Zoetis closed down 20c to $47.80 on Friday.
08:28 EDTBMYExelixis off highs, but still up 34% after Bristol-Myers data
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08:05 EDTBMYBristol-Myers says Phase III study evaluating Opdivo stopped early
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07:33 EDTBMY, ABTInternational AIDS Society to hold a conference
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07:30 EDTABTZoetis 'highly likely' to merge with Bayer unit in 2016, says Jefferies
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07:09 EDTEBSEmergent BioSolutions awarded $19.7M BARDA contract
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July 17, 2015
10:21 EDTCICigna says 98.4% of customers treated with hep C drug Harvoni are cured
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July 16, 2015
19:17 EDTHNT, CIAffordable Care Act plan prices to increase 11.2% in 2016, WSJ says
State regulators will begin approving plan price increases for insurance plans purchased on Care Act’s exchanges as early as this month, reports the Wall Street Journal. Nearly every state has plans with premiums increasing over 10%, with some as high as 30%-50%, the Journal adds. Publicly traded companies in the space include Aetna (AET), Anthem (ANTM), Centene (CNC), Cigna (CI), Health Net (HNT), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG). Reference Link
16:05 EDTAMGNAmgen announces Phase 2 trial results evaluating Blincyto
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09:22 EDTBMYBristol-Myers says EU approves Evotaz for treatment of HIV-1 infection in adults
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09:01 EDTBMYuniQure has reached compelling entry point, says Roth Capital
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July 15, 2015
11:08 EDTABTFormula makers slip after Mead Johnson cuts guidance
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10:01 EDTHNTOn The Fly: Analyst Downgrade Summary
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08:32 EDTBMYBristol-Myers Squibb, MUSC announce translational research collaboration
The Medical University of South Carolina, or MUSC, and Bristol-Myers Squibb (BMY) announced that they have entered into a translational research collaboration focused on fibrotic diseases, including scleroderma, renal fibrosis and idiopathic pulmonary fibrosis. The agreement includes studies designed to improve the mechanistic understanding of fibrosis, explore patient segmentation based on disease characteristics and/or biomarker approaches and predictors of disease progression.
07:24 EDTHNTHealth Net downgraded to Hold from Buy at Jefferies
Jefferies downgraded Health Net (HNT) to Hold following the acquisition by Centene (CNC).
07:23 EDTHNTCentene upgraded to Buy from Hold at Jefferies
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