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Stock Market & Financial Investment News

News Breaks
May 2, 2014
09:20 EDTCVX, NTRI, BCOR, SREV, SQI, BIRT, RXII, INVN, IMMU, OPEN, AVNR, ISRG, SQNM, MRK, ECYT, RBS, AXLOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Royal Bank of Scotland (RBS), up 9%... Sequenom (SQNM), up 8.2%... Nutrisystem (NTRI), up 11.5%... American Axle (AXL), up 2.9%. ALSO HIGHER: Wynn Resorts (WYNN), up 4% after earnings, shares upgraded at Sterne Agee... Avanir (AVNR), up 3.7% after upgraded at Mizuho... RXi Pharmaceuticals (RXII), up 27.4% after announcing results from study of RXI-109... Intuitive Surgical (ISRG), up 4% after announcing accelerated share repurchase. DOWN AFTER EARNINGS: Chevron (CVX), down 1%... OpenTable (OPEN), down 3.4%... Actuate (BIRT), down 18.2%... SciQuest (SQI), down 20%... ServiceSource (SREV), down 15.2%. ALSO LOWER: Endocyte (ECYT), down 60% after announcing DSMB recommends vintafolide PROCEED trial be stopped. The drug is being developed in partnership with Merck (MRK)... Immunomedics (IMMU), down 16% after filing to sell $30M worth of common stock in a spot secondary offering... InvenSense (INVN), down 9.3% after downgraded at Needham following the company's Q4 earnings report... Blucora (BCOR), down 10% after earnings, downgrade at Craig-Hallum.
News For CVX;RBS;ECYT;MRK;SQNM;ISRG;AVNR;OPEN;IMMU;INVN;RXII;BIRT;SQI;SREV;BCOR;NTRI;AXL From The Last 14 Days
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October 16, 2014
08:42 EDTRBSUBS, DOJ in talks for forex rigging settlement, FT reports
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06:50 EDTRBSEuropean regulator rejects bonus loophole, NY Times says
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October 15, 2014
12:42 EDTMRKNY AG announces $31M Medicaid settlement with Organon
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09:57 EDTMRKLeerink biotech analysts hold an analyst/industry conference call
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07:44 EDTCVXExxon, Shell behind rivals in lowering greenhouse gas emissions, WSJ reports
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07:27 EDTRBSJPMorgan, HSBC fire traders linked to forex probe, WSJ reports
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October 14, 2014
13:28 EDTNTRIClinton Group says private equity firm could pay $23 per share for Nutrisystem
In a letter to Nutrisystem, Clinton Group said, "We stand by our suggestions to do a leveraged buyback or increase the dividend today, but recognize that such transactions may not be enough to cure the valuation discount in the equity markets. We believe therefore the Board should consider carefully whether Nutrisystem should remain a public company at all. We are aware of private equity firms that are interested in discussing a buyout in which the current management team would remain in place but the company would be privately held. Given the Nutrisystem's superior brand and cash flow prospects for the business, we believe such a going-private transaction could garner a substantial premium for the public market investors while affording the private equity buyer of Nutrisystem attractive returns. We have modeled that a private equity firm could pay $23 per share for Nutrisystem (a 50% premium to today's prevailing prices) and still reasonably expect to earn an IRR above 20%. In the meantime, we urge the company to use its cash to buy back its own stock at these attractive prices. Obviously, the more stock that you buy at these prices, the more a private equity buyer can pay in a going-private transaction for the remainder of the outstanding stock."
13:21 EDTNTRIClinton Group urges Nutrisystem to sell itself
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11:23 EDTMRKBIND Therapeutics and The Conference Forum hold a conference
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09:19 EDTCVXChevron delays $12B deepwater project after gas discovery, Jakarta Post says
PT Chevron Pacific Indonesia, a unit of Chevron, has submitted a letter requesting the postponement of its $12B Indonesia Deepwater Development project as it revise its calculations on the project following the discovery of a new gas reserve that has increased the projectís monetizing value, reported The Jakarta Post, citing an official with the Energy and Mineral Resources Ministry. Reference Link
08:17 EDTAXLAmerican Axle upgraded to Overweight from Equal Weight at Barclays
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07:11 EDTAVNRAvanir AVP-923 data looks better than expected, says Piper Jaffray
Piper Jaffray says the Phase II data Avanir presented for AVP-923 in Alzheimer's agitation at the American Neurological Association Monday was better than expected and could open the door for a billion dollar opportunity. It reiterates an Overweight rating on the stock with a $21 price target.
06:45 EDTRBSData says UK banks paid less than 40% to cover mis-selling, Reuters says
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October 13, 2014
16:32 EDTAVNRAvanir Phase 2 AVP-923 study shows improvement in agitation on primary endpoint
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09:06 EDTINVNInvenSense recent pullback a buying opportunity, says Northland
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07:37 EDTMRKAmerican Society of Anesthesiologists to hold annual meeting
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07:33 EDTAVNRAmerican Neurological Association to hold annual meeting
ANA 2014: 139th Annual Meeting is being held in Baltimore on October 12-14.
06:36 EDTCVXSaudi Arabia content to let oil prices stay low, Reuters reports
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October 12, 2014
13:53 EDTCVXKuwaiti Minister says OPEC unlikely to cut production, WSJ says
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13:45 EDTCVXSaudis take aggressive oil measures in Europe, WSJ says
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