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Stock Market & Financial Investment News

News Breaks
December 12, 2012
12:25 EDTDD, STP, FSLR, TSL, CSIQ, JASO, ESLR, YGE, LDK, TEVA, CRL, PC, GILD, YMI, SPWROn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday as investors wait on the Fed and other Washington powers to set the direction. The averages began the session slightly higher and have remained in a narrow range all morning. However, the day's real action may be yet to come, as investors await the conclusion of the two-day Federal Reserve policy meeting. The rate decision is due out at 12:30 pm ET. And, as always, headlines from Washington regarding the fiscal cliff negotiations are always a threat to swing the market quickly in either direction... ECONOMIC EVENTS: In the U.S., import prices fell more than expected and recorded their biggest drop in five months in November, dropping 0.9%. In Europe, the pace of contraction of industrial production in the 17 countries that use the euro accelerated in October, as activity fell 3.6% from a year ago compared to a contraction of 2.8% in September... COMPANY NEWS: DuPont (DD) shares rose 2% after the company said it expects its adjusted EPS to come in at the high end of its previous forecast and also authorized a repurchase program of $1B... A number of solar stocks moved up sharply amid numerous headlines from Chinese and Taiwanese media sources. Reports said China plans additional subsidies for solar companies there and also some China-based makers may sell solar cell equipment to Taiwan. A number of solar names moved higher, including Yingli Green Energy (YGE), up 20%, Trina Solar (TSL), also up 20%, and JA Solar (JASO), up 22%. Additionally, LDK Solar (LDK), which rose 27%, announced it has entered into discussions with certain creditors to obtain additional flexibility as it continues to work to address its previously disclosed liquidity and working capital concerns... MAJOR MOVERS: Among the notable gainers was Panasonic (PC), up almost 8% following an upgrade to Overweight at Barclays. Also higher were shares of YM BioSciences (YMI), up 77% after agreeing to be acquired by Gilead Sciences (GILD) for $2.95 per share in cash. Gilead shares, meanwhile, moved up 10c, or 0.13%. Among the noteworthy losers was Charles River Labs (CRL) down 8% after reaffirming its 2012 guidance and giving guidance for 2013 below Street expectations. Also lower were shares of Teva Pharmaceutical (TEVA), down 4.7% after Leerink downgraded the stock to Market Perform and Wells Fargo removed it from the firm's Priority Stock List... INDICES: Near noon, the Dow was up 8.25, or 0.06%, to 13,256.69; the Nasdaq was down 2.71, or 0.09%, to 3,019.59; and the S&P 500 was up 2.37, or 0.17%, to 1,430.21.
News For DD;YMI;GILD;PC;CRL;TEVA;LDK;YGE;ESLR;JASO;CSIQ;TSL;FSLR;STP;SPWR From The Last 14 Days
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April 8, 2014
08:49 EDTCRLCharles River Labs pullback creates an interesting set-up, says RW Baird
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08:46 EDTTEVATeva announces first approval, launch of generic Lovaza capsules in the U.S.
Teva (TEVA) announces the approval of the generic equivalent to Lovaza in the United States. Teva believes it is first-to-file and thus far is the only company to receive an approval from FDA. Teva plans to commence shipping immediately. Lovaza Capsules, marketed by GlaxoSmithKline (GSK), had annual sales of approximately $1.1B in the United States, according to IMS data as of December 2013.
07:42 EDTDDSenate Agriculture, Nutrition & Forestry to hold a hearing
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April 7, 2014
14:09 EDTTEVASun Pharmaceutical agrees to acquire generic drugmaker Ranbaxy
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09:34 EDTGILDActive equity options trading on open
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08:31 EDTGILDGilead announecs FDA priority review designation for Ledipasvir/Sofosbuvir
Gilead Sciences announced that the U.S. Food and Drug Administration has granted priority review to the companyís New Drug Application for a once-daily fixed-dose combination of the NS5A inhibitor ledipasvir 90 mg and the nucleotide analog polymerase inhibitor sofosbuvir 400 mg for the treatment of chronic hepatitis C genotype 1 infection in adults. Gilead filed the NDA for LDV/SOF on February 10, and the FDA has set a target action date under the Prescription Drug User Fee Act of October 10. The FDA has also assigned LDV/SOF a Breakthrough Therapy designation.
April 4, 2014
10:50 EDTJASO, FSLR, SPWR, TSL, CSIQ, YGEFirst Solar rallies after Citigroup ups price target
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10:45 EDTTEVAMylan rises despite Meda rejecting takeover offer
Mylan (MYL) shares are higher this morning following a Financial Times report of its desire to buy Swedish rival Meda. Subsequent to the story being published, Meda confirmed it had been in talks with Mylan but rejected the company's takeover offer. WHAT'S NEW: The Financial Times reported that Mylan was considering buying Meda, a Swedish drugmaker, in a deal that would create a $23B+ pharmaceuticals business. Mylan reportedly hired advisers to put a deal together for Meda, and though the value of a deal was not noted, sources said Mylan was likely to pay a "significant" premium to Meda's market value, which was $4.5B at the end of trading on Thursday. Mylan's market value currently stands at $18.5B. A combination of the drugmakers would create a company with annual revenues of around $9B, the FT said, noting that would be half the size of generic drug rival Teva (TEVA). WHAT'S NOTABLE: Meda's board of directors confirmed that it was contacted by Mylan regarding a proposal to merge the companies, but the board decided to reject the proposal. Meda said all discussions between the company and Mylan have been terminated "without further actions." ANALYST REACTION: Citigroup upgraded Mylan to Buy from Neutral and raised its price target on the stock to $61 from $52 this morning. The firm cited potential operational and tax benefits from an acquisition of Meda, stating that in addition to expanding Mylan's geographic presence, the deal would increase its presence in specialty, OTC and branded generics. OTHER NEWS: Mylan sued Celgene (CELG) to block that company's efforts to keep generic versions of Revlimid and Thalomid off the market, Reuters reported. PRICE ACTION: Mylan shares are up $2.98, or 5.98%, to $52.84 in mid-morning trading.
09:36 EDTGILDActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL TSLA MU GNK AMZN FB GILD MA NFLX
08:14 EDTDDDuPont, Tate & Lyle contemplating second biochemical plant, Bloomberg says
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07:49 EDTFSLRFirst Solar price target raised to $87 from $63 at Citigroup
Citigroup raised its price target for First Solar shares to $87 from $63 after shifting its valuation to 2016 estimates and reiterates a Buy rating on the stock. Citi believes First Solar's 2013 guidance could prove conservative.
06:04 EDTFSLRStocks with implied volatility below IV index mean; SWY FSLR
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April 3, 2014
14:30 EDTTEVAMylan says USPTO rejects Teva '808 patent reissue application on Copaxone
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14:28 EDTTEVAMylan says USPTO rejects Teva '808 patent reissue application on Copaxone
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10:40 EDTDDDuPont $919M verdict thrown out by appeals court, Bloomberg reports
A U.S. court of appeals judge ruled that the trial judge in DuPontís victory over Kolon Industries for the alleged theft of trade secrets related to Kevlar had wrongly excluded evidence and the appeals court threw out the $919.9M court award for DuPont, according to Bloomberg. Reference Link
09:37 EDTGILDActive equity options trading on open
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09:30 EDTDDApple, Pfizer others create 'go slow' patent lobby group, Reuters says
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08:02 EDTSPWRHannon Armstrong provides $42M in solar lease financing to SunPower
Hannon Armstrong (HASI) and SunPower (SPWR) announced an agreement under which HASI will provide $42M in non-recourse debt to help finance SunPower's residential solar lease program.
06:26 EDTFSLR, JASO, SPWR, YGE, CSIQ, TSLSolarbuzz expects record demand for PV industry in 2014, DigiTimes says
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06:01 EDTFSLRStocks with implied volatility below IV index mean; SWY FSLR
Stocks with implied volatility below IV index mean; Safeway (SWY) 11, First Solar (FSLR) 46 according to iVolatility.
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