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Stock Market & Financial Investment News

News Breaks
March 6, 2013
11:47 EDTOCN, THRX, DECK, PANLOptions with decreasing implied volatility: DECK OCN PANL THRX
News For DECK;OCN;PANL;THRX From The Last 14 Days
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March 23, 2015
07:43 EDTOCNOcwen issues rebuttal letter to trustees
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06:29 EDTOCNOcwen responds to investor allegations, WSJ says
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March 20, 2015
16:13 EDTOCND. John Devaney reports 6.37% passive stake in Ocwen
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12:41 EDTTHRXOn The Fly: Midday Wrap
Stocks began the day sharply higher and have continued to tack on gains throughout the morning. The market’s move put the Nasdaq back above 5,000 and the S&P above 2,100. The market is undergoing quadruple witching, which occurs 4 times per year and typically is accompanied by high volume and volatility. ECONOMIC EVENTS: In the U.S., the economic calendar was quiet. The Baker Hughes U.S. rig count, which has been closely watched in recent months amid the protracted slide in oil prices, is expected at 1:00 pm EDT. The count of U.S. rigs stood at 1125 at the end of last week. In Europe, reports indicate German Chancellor Angela Merkel said Greece has agreed to send a list of overhauled reforms to European officials within days. COMPANY NEWS: Shares of Nike (NKE) advanced 4% following its Q3 earnings beat. Credit Suisse raised Nike's price target to $106 following the report, saying Nike's underlying futures growth remains in double-digits and preliminary FY16 guidance suggests management has been effective in managing currency headwinds... The shares of Biogen (BIIB) rallied 8% after the company reported results for an early stage study of its Alzheimer's drug, BIIB-037. The company announced that the three milligram, six milligram, and ten milligram dose versions of its Alzheimer's treatment, aducanumab, had reduced the amount of amyloid plaque in the brains of Alzheimer's patients taking the drug by statistically significant amounts compared with those taking placebos. The cognitive decline of patients taking BIIB-037 was also significantly less than that of patients who were taking placebos, the company reported. MAJOR MOVERS: Among the notable gainers was Prothena (PRTA), which surged 30% after announcing results from a Phase 1 single ascending dose study of its potential treatment of Parkinson's disease. Also higher was Darden Restaurants (DRI), which gained 4% after the owner of the Olive Garden and Long Horn restaurant chains reported earnings that beat expectations. Among the noteworthy losers was China's Youku Tudou (YOKU), which dropped 9% and was downgraded to Sell at Deutsche Bank after the company reported mixed Q4 results. Also lower was Theravance (THRX), which fell 7% after the company and partner GlaxoSmithKline (GSK) announced that an FDA advisory committee voted that the efficacy data for their Breo Ellipta inhaler provides substantial evidence of a clinically meaningful benefit in adults, however it voted against approval for the proposed indication in 12-17 year olds. INDEXES: Near midday, the Dow was up 189.04, or 1.05%, to 18,148.07, the Nasdaq was up 40.24, or 0.81%, to 5,032.62, and the S&P 500 was up 19.54, or 0.94%, to 2,108.81.
09:47 EDTTHRXGlaxoSmithKline, Theravance launch Revlar Ellipta in Italy
In a regulatory filing, GlaxoSmithKline (GSK) and Theravance (THRX) announced the launch of Revlar Ellipta in Italy following the recent approval by the Italian regulatory authorities in December 2014. Relvar is a fixed dose combination of the inhaled corticosteroid fluticasone furoate and the long-acting beta2-agonist vilanterol. The components will be administered using the Ellipta, a dry powder inhaler. In Italy, the product is indicated for the regular treatment of asthma in adults and adolescents aged 12 years and older where use of a combination medicinal product is appropriate; and for the symptomatic treatment of adults with Chronic Obstructive Pulmonary Disease with a FEV1<70% predicted normal post-bronchodilator with an exacerbation history despite regular bronchodilator therapy.
07:25 EDTOCNOcwen enters into amendment to OMART advance financing facility
Ocwen said in a filing that on March 19, the company entered into an amendment to its OMART advance financing facility clarifying the appropriateness of adding back the $150M New York Department of Financial Services charge as an extraordinary item for certain covenant calculations.
March 19, 2015
18:24 EDTTHRXTheravance down 11% following FDA panel vote on Breo
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18:14 EDTTHRXGlaxoSmithKline, Theravance announce FDA panel outcome on Breo Ellipta
GlaxoSmithKline (GSK) and Theravance (THRX) announced the outcome of the joint meeting of the Pulmonary-Allergy Drugs Advisory Committee and Drug Safety and Risk Management Advisory Committee of the United States FDA regarding the supplemental New Drug Application for Breo Ellipta as a once-daily inhaled treatment for asthma in patients aged 12 years and older. The FDA Advisory Committee voted that the efficacy and safety data for FF/VI 100/25 mcg and 200/25 mcg once daily in asthma support approval in adults 18 years of age and older (16 for, 4 against). The Committee voted that the efficacy data provides substantial evidence of a clinically meaningful benefit in adults (18 for, 2 against) and that the safety in this population has been adequately demonstrated (17 for, 3 against). The Committee voted against approval for the proposed indication in 12-17 year olds (2 for, 18 against). The Committee voted that the efficacy data was not sufficient to demonstrate the benefit (4 for, 16 against) and the safety (1 for, 19 against) has not been adequately demonstrated in this sub-population. The Committee recommended that a large LABA safety trial with FF/VI should be required in adults (13 yes, 7 no) and in 12-17 year olds (17 yes, 2 no and 1 no-vote), similar to the ongoing LABA safety trials being conducted as an FDA Post-Marketing Requirement by each of the manufacturers of LABA containing asthma treatments. FDA Advisory Committees provide non-binding recommendations for consideration by the FDA. Based on these opinions and the data presented, the FDA will make its final decision on approval, which is expected on April 30.
07:26 EDTTHRXFDA to hold a joint advisory committee meeting
The Pulmonary-Allergy Drugs Advisory Committee and the Drug Safety & Risk Management Advisory Committee discuss the supplemental New Drug Application (sNDA) 204275-S001, for fluticasone furoate and vilanterol dry powder for inhalation (with the brand name of BREO® ELLIPTA®), sponsored by Glaxo Group Limited (d/b/a GSK) for the once-daily treatment for asthma in patients aged 12 years and older in a meeting being held in Gaithersburg, Maryland on March 19 at 8 am. Webcast Link
07:10 EDTTHRXTheravance announces trading in common stock halted as FDA meets on sNDA
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March 18, 2015
11:44 EDTOCNOcwen reopens after announcing MSR deal with Walter Investment
Ocwen (OCN) shares are up fractionally shortly after reopening for trading.
11:37 EDTOCNWalter Investment jumps 7% after subsidiary agrees to buy MSRs from Ocwen
11:36 EDTOCNOcwen intends to sell $9.6B portfolio of mortgage servicing rights to Green Tree
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11:35 EDTOCNOcwen intends to sell $9.6B portfolio of mortgage servicing rights to Green Tree
11:30 EDTOCNOcwen trading halted, pending news
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09:27 EDTOCNHome Loan Servicing says requires additional time to file Form 10-K
Home Loan Servicing Solutions said in a filing that on March 3, the company filed a Form 12b-25 indicating that additional time to complete its Annual Report on Form 10-K for the year ended December 31, 2014 was necessary in order to complete the assessment of recent events related to the company’s business and determine the impact on the company’s financial statements and related disclosures. At that time, the company expected to file its Form 10-K within the 15 day extension period. The company requires additional time to prepare information related to its ability to operate as a going concern and to provide such information to the auditors for the purposes of their audit of the company's financial statements for the year ended December 31, 2014.
09:25 EDTOCNOcwen says continues to analyze HLSS' ability to continue to meet obligations
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07:44 EDTOCNJPMorgan to purchase $45B of mortage service rights from Ocwen, NY Post says
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March 17, 2015
14:51 EDTTHRXTheravance volatility elevated on wide price movement
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13:10 EDTOCNJPMorgan could acquire Ocwen's Fannie MSR portfolio, IMF reports
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