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Stock Market & Financial Investment News

News Breaks
May 20, 2014
09:15 EDTDKS, ECYT, CLVS, OPHT, ACXM, URBN, SPLS, LIVE, DNDN, GPK, TJX, ICPT, CAB, MRK, IRDM, NVS, CCL, ARX, ODPOn The Fly: Pre-market Movers
HIGHER: Aeroflex (ARX), up 25% after agreeing to be acquired by Cobham for about $1.46B... Clovis (CLVS), up 6.6% after receiving breakthrough therapy designation for CO-1686... Ophthotech (OPHT), up 17.6% after entering into an ex-U.S. licensing, commercialization agreement with Novartis (NVS) for Fovista... Dendreon (DNDN), up 9% after announcing presentation of PROVENGE ProACT, IMPACT studies data... Iridium (IRDM), up 5% after upgraded at Raymond James... Acxiom (ACXM), up 3% after upgraded at Wells Fargo... Carnival (CCL), up 2% following upgrade at Morgan Stanley. DOWN AFTER EARNINGS: Dick's Sporting (DKS), down 15%. Peer Cabelas (CAB) also down 2% after Dick's report... Staples (SPLS), down 10%. Peer Office Depot (ODP) also down 2.6% after Staples' report... Urban Outfitters (URBN), down 4%... TJX (TJX), down 4.7%. ALSO LOWER: Intercept (ICPT), down 5.8% after The Street reported that the company knew of abnormal cholesterol levels in patients taking its liver disease drug obeticholic acid... Graphic Packaging (GPK), down 3% after offering 43.65M shares of common stock for holders... LiveDeal (LIVE), down 15% after entering 10M share common stock distribution agreement... Endocyte (ECYT), down 5% after company and partner Merck (MRK) withdraw CMA for vintafolide in Europe.... Molycorp (MCP), down 2.5% after downgraded at Morgan Stanley.
News For DKS;CAB;SPLS;ODP;ICPT;URBN;ARX;TJX;ACXM;CCL;GPK;OPHT;NVS;DNDN;CLVS;IRDM;LIVE;ECYT;MRK From The Last 14 Days
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July 21, 2015
12:01 EDTCCLRoyal Caribbean names Jim Berra Chief Marketing Officer
Royal Caribbean (RCL) has named Jim Berra Chief Marketing Officer. Jim will be responsible for all aspects of the cruise line's marketing program, including brand strategy and positioning, consumer and trade advertising, web and loyalty marketing, research, brand development and communications. Jim most recently served as senior vice president and Chief Marketing Office for Carnival Cruise Line (CCL) where he oversaw the company's advertising, public relations, customer marketing and digital efforts.
11:49 EDTNVSNovartis may sell Amgen's cancer drug as soon as September, Bloomberg says
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07:05 EDTOPHTOphthotech names Shima as Chief Scientific Officer, Bjarke as CCO
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05:20 EDTNVSNovartis backs FY15 revenue guidance of up mid-single digit
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05:17 EDTNVSNovartis reports Q2 core EPS $1.27, consensus $1.24
Reports Q2 revenue $12.7B, consensus $12.44B. Further strengthening of USD impacted sales by -11% and core operating income by -13%. Growth Products, an indicator of the rejuvenation of the portfolio, contributed 35% of continuing operations net sales in Q2, and were up 24%. In Pharmaceuticals, Growth Products contributed 44% of division net sales in the quarter, and sales for these products were up 38%.
July 20, 2015
10:17 EDTSPLSHigh option volume stocks
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10:00 EDTCLVSOn The Fly: Analyst Upgrade Summary
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08:25 EDTNVSNovartis management to meet with JPMorgan
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07:32 EDTNVSAlzheimer's Association to hold a conference
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06:52 EDTCLVSClovis upgraded to Conviction Buy from Buy at Goldman
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July 16, 2015
11:04 EDTCCLCarnival increases quarterly dividend by 20% to 30c
Carnival announced that it has increased its quarterly dividend to 30c per share. The company's board approved a record date for the quarterly dividend of August 21, 2015, and a payment date of September 11, 2015.
July 15, 2015
13:34 EDTURBNNRF forecast hurting retail sector, says Brean Capital
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07:58 EDTNVSAnalysts break down impact of $7.2B Receptos buyout
After Celgene (CELG) announced last night that the company has agreed to acquire Receptos (RCPT) for $232 per share in cash, or a total of about $7.2B net of cash acquired, research firms have chimed in with their opinions on how the proposed deal may impact others in the biotech space. Receptos key asset is Ozanimod, which is being studied in Phase III trials for relapsing multiple sclerosis and ulcerative colitis. DERIVATIVE CALLS: Piper Jaffray analyst Edward Tenthoff told investors that he views Celgene's deal for Receptos as good for Arena Pharmaceuticals (ARNA). The analyst notes that Arena's APD334 is already showing dose-dependent decreases in circulating lymphocyte counts and that the company will initiate Phase II studies in ulcerative colitis and Crohn's disease this year. Tenthoff reiterates an Overweight rating and $7.50 price target on Arena, which has a market capitalization around $1B and closed yesterday up 8c to $4.47. In its own note to investors this morning, Nomura said Celgene's deal could put downward pressure on Biogen's (BIIB) long-term multiple sclerosis estimates. Nomura's M. Ian Somaiya contended that one-year Phase II efficacy data for Ozanimod looked as good as Novartis’s (NVS) Gilenya and Biogen's Tecfidera’s Phase III at year 2. Somaiya also wondered if rival Gilead (GILD) could be "looking for something bigger" than Receptos for its own deal, telling investors that the firm views Incyte (INCY) as Gilead's most likely takeout target. Incyte's shares closed up $4.46 at $117.46 yesterday, giving the company a market cap of about $20B. RIVAL BID?: Wedbush analyst Liana Moussatos believes another bidder may seek to acquire Receptos, noting that she previously estimated Receptos could be valued at $348 per share, or about $10.9B, in a buyout. Moussatos noted that Celgene said it expects annual peak sales for Ozanimod to reach about $4B-$6B for RMS and UC, making its acquisition price of $7.2BN only a bit more than about 1X peak sales without accounting for other possible indications or the rest of its pipeline. Moussatos told investors she sees "plenty" of potential upside to justify a rival bidder stepping in and reiterated the firm's Outperform rating on Receptos shares. PRICE ACTION: In pre-market trading, Receptos rose 10% to $228.61 while Gilead gained 1.4% to about $119 per share.
July 14, 2015
10:01 EDTURBN, CCLOn The Fly: Analyst Upgrade Summary
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09:43 EDTURBNUrban Outfitters gaps up following upgrade
Shares are up over 3% to $36.49 at time of writing following an earlier upgrade at Jefferies to Buy, with a $50 price target. At current price resistance is at $36.93, the top of the recent trading range since mid-May. Support is at $35.82.
07:24 EDTCCLCarnival upgraded to Hold on China growth at Jefferies
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07:20 EDTURBNUrban Outfitters upgraded to Buy with $50 target at Jefferies
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07:12 EDTLIVELiveDeal discloses acquisition of Marquis Industries for $30M
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06:21 EDTCCLCarnival upgraded to Hold from Underperform at Jefferies
06:21 EDTURBNUrban Outfitters upgraded to Buy from Hold at Jefferies
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