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Stock Market & Financial Investment News

News Breaks
May 2, 2014
09:20 EDTNTRI, SQI, INVN, AVNR, MRK, CVX, BCOR, BIRT, IMMU, ISRG, ECYT, AXL, SREV, RXII, OPEN, SQNM, RBSOn 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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January 21, 2015
10:16 EDTMRKLeerink biopharma analysts hold an analyst/industry conference call
Analyst Fernandez, along with Dr. Paul Gurbel and Dr. Richard Becker, discuss AstraZeneca's PEGASUS trial and the current use of Brilinta and dual antiplatelet therapy for prevention of CV disease and implications of the recently completed DAPT trial on an Analyst/Industry conference call to be held on January 21 at 1:30 pm.
10:01 EDTCVXOn The Fly: Analyst Downgrade Summary
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09:02 EDTSQISciQuest names Beth Hendriks as Chief Technology Officer
SciQuest (SQI) announced that EMC (EMC) executive Beth Hendriks will be joining the company as its new chief technology officer. In this role, she will be responsible for enhancing the breadth and depth of the SciQuest Spend Management Suite while accelerating technology and user experience innovation. Hendriks joins SciQuest from EMC, where she served as senior director of engineering.
08:40 EDTISRGIntuitive Surgical January weekly volatility elevated into Q4 and outlook
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08:02 EDTMRKMerck completes tender offer to acquire Cubist
Merck (MRK) announced the successful completion of the tender offer for all of the outstanding shares of common stock of Cubist Pharmaceuticals (CBST) at a purchase price of $102.00 per share. As of the tender offer expiration yesterday, 58,039,667 shares of common stock of Cubist were validly tendered and not properly withdrawn from the tender offer, representing approximately 75.7% of the outstanding common stock of Cubist on a fully diluted basis. All of such shares have been accepted for payment in accordance with the terms of the tender offer, and Merck expects to promptly pay for all such shares. Following consummation of the tender offer, Merck expects to complete the acquisition of Cubist later today through a merger of Merckís wholly owned subsidiary with and into Cubist without stockholder approval. Upon completion of the merger, all outstanding shares of common stock of Cubist, other than shares held by Cubist in treasury or shares held by Cubistís stockholders who are entitled to and properly exercise appraisal rights under Delaware law, will be canceled and converted into the right to receive cash equal to the $102.00 offer price per share without interest, less any applicable withholding taxes. In addition, upon completion of the merger, Cubist will become a wholly owned subsidiary of Merck and the common stock of Cubist will cease to be traded on the NASDAQ Stock Market.
07:37 EDTCVXWells upgrades Exxon Mobil, downgrades Chevron
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06:32 EDTCVXChevron downgraded to Market Perform from Outperform at Wells Fargo
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January 20, 2015
18:02 EDTCVXChevron Australian subsidiary signs SPA with SK LNG Trading
Chevron announced its Australian subsidiaries have signed a binding Sales and Purchase Agreement, or SPA, with SK LNG Trading Pte. Under the SPA, SK LNG Trading, which is part of a leading industrial conglomerate in South Korea, will receive 4.15M tons of LNG over a five-year period starting in 2017. During the time of this agreement, over 75% of Chevronís equity LNG from Gorgon will be committed to customers in Asia.
17:18 EDTMRKDana Holding to replace Cubist in S&P 400 as of 1/22 close
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14:06 EDTRBSCitizens, Keysight identified as long positions by Einhorn
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13:45 EDTSQNMIllumina rises as genomics project seen being announced in State of the Union
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08:46 EDTIMMUImmunomedics reports Phase 1/2 results with sacituzumab govitecan
Immunomedics announced that sacituzumab govitecan, the company's lead investigational antibody-drug conjugate, or ADC, produces partial response, or PR, in some patients with metastatic esophageal and colorectal cancers who had been heavily pretreated. Extended periods of stable disease were also noted in some patients with pancreatic and gastric cancers, with time-to-progression, or TTP, exceeding that of last prior therapy in many cases. Response and TTP were evaluated by computed tomography, or CT, based on RECIST criteria. Patented and developed by the company, sacituzumab govitecan was created by conjugating the moderately-toxic drug, SN-38, site-specifically and at a high ratio of drug to antibody to a humanized antibody that targets the TROP-2 receptor expressed by many solid cancers. SN-38 is the active metabolite of irinotecan, which is used to treat certain solid cancers, particularly metastatic colorectal cancers, as a part of combination therapies, so its pharmacology and properties are well-known. Despite the late-stage setting, 1 patient in each of the colorectal and esophageal cancer groups had a partial response after receiving more than 2 doses of the ADC. For all 4 cancer types, the disease stabilization rate exceeded 50%.
07:30 EDTRBSU.K. banks see Bitcoin as threat to sterling, boon to terrorists, Telegraph says
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07:23 EDTMRKMerck funding testing of lower dosages of Zilmax, Reuters reports
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05:54 EDTINVNStocks with implied volatility movement; ZIOP INVN
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January 19, 2015
06:47 EDTCVXJPMorgan says oil may drop below $40/barrel in near-term
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January 18, 2015
14:22 EDTCVXSchlumberger boss says oil price to challenge land producers, WSJ says
Paal Kibsgaard, CEO of Schlumberger, said U.S. energy producers are not done with work force reductions and that because of high costs, producers that focus on shale fields are worse off than rivals, says the Wall Street Journal. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A), Total (TOT), Schlumberger (SLB) and Baker Hughes (BHI). Reference Link
January 16, 2015
10:24 EDTCVXOptions point to oil falling to near $30 per barrel, Merrill Lynch says
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08:19 EDTRBSRBS reviewing loans to small businesses on new issue, Independent says
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06:49 EDTCVXOil prices climb after IEA says production falling, Reuters reports
Oil prices rebounded today after the International Energy Agency, or IEA, said it saw signs that oil production was falling in some areas, including North America, according to Reuters. "A price recovery...may not be imminent, but signs are mounting that the tide will turn," Reuters quoted the IEA as saying. Oil prices could rebound in the second half of the year, the IEA indicated, the news service reported. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
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