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Stock Market & Financial Investment News

News Breaks
June 10, 2014
16:28 EDTEHTH, AGN, RCPT, COUP, FB, INO, VRX, EBAYOn The Fly: Closing Wrap
Stocks on Wall Street began the day slightly below the flat line and remained there for most of the session, before a late move higher allowed the Dow to run its recent winning streak to another day, though just barely. Economic reports from at home and abroad, which included wholesale trade data in the U.S. and inflation data from China, had little effect on the market, which seemed content to spend the session drifting. The Dow and S&P 500 stand just short of major round-number milestones, but both will have to wait at least another day to see if they can be reached. ECONOMIC EVENTS: In the U.S., wholesale inventories rose 1.1% in April, with sales up 1.3%, which were both better than forecast. The JOLTS report showed job openings climbed 289K to 4.46M in April. In China, official data showed an index of consumer prices rose 2.5% year-on-year in May, while China's producer price index contracted 1.4% during the month. COMPANY NEWS: Shares of eBay (EBAY) closed down $1.33, or 2.68%, to $48.25 after the company announced last night that PayPal President David Marcus is leaving the company to lead Facebook’s (FB) messaging products. Facebook shares reacted positively to the executive hiring, rising $2.89, or 4.6%, to $65.77... Allergan (AGN) once again rejected Valeant (VRX), saying that the higher takeover bid it made in concert with Bill Ackman's hedge fund Pershing Square still "substantially undervalues the company [and] creates significant risks and uncertainties for the stockholders of Allergan." Further, Allergan said its board has "serious concerns" about the large stock component of the proposal and that the latest Valeant offer does not warrant talks between the companies. Following the latest reproach, BMO Capital said it believes the fight between the two is still in the "early innings" and could last well into 2015. Shares of Allergan slipped $1.06, or 0.65%, to $163.09, while Valeant fell $1.08, or 0.85%, to $125.55. MAJOR MOVERS: Among the notable gainers was hepatitis C treatment maker Achillion (ACHN), which surged $3.54, or 83.29%, to $7.79 after the company announced today that it had received favorable news from the FDA about resuming certain clinical trials. Achillion's advance comes on top of its 47% move higher yesterday after Merck (MRK) announced that it would acquire another company in the HCV drug space at a significant premium. Also higher was Receptos (RCPT), which jumped $10.74, or 36.78%, to $39.94 after the company reported phase 2 data for its SIPI modulator that firms Leerink and BMO Capital both viewed positively. Among the noteworthy losers was Inovio Pharmaceuticals (INO), which fell $1.44, or 13.36%, to $9.34 after TheStreet's Adam Feuerstein speculated that the company already has data in hand for its phase II study of its vaccine for cervical pre-cancerous lesions and warned of "red flags" related to the company's CEO "walking back expectations" ahead of a potential disclosure that the trial was not a success. Also lower were shares of eHealth (EHTH), which fell $5.09, or 13.05%, to $33.91 after Jefferies downgraded the stock to Hold and lowered its price target for shares to $40 from $62, citing less confidence in the company's Exchange opportunity following management comments at the firm's conference. Another stock moving lower following a downgrade was Coupons.com (COUP), which dropped $2.95, or 10.6%, to $24.88 after Goldman downgraded the shares to Sell from Neutral. INDEXES: The Dow was up 2.82, or 0.02%, to 16,945.92, the Nasdaq was up 1.75, or 0.04%, to 4,338.00, and the S&P 500 was down 0.48, or 0.02%, to 1,950.79.
News For EBAY;FB;AGN;VRX;COUP;EHTH;INO;RCPT From The Last 14 Days
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November 12, 2014
10:00 EDTEHTHOn The Fly: Analyst Downgrade Summary
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07:53 EDTRCPTLeerink to hold a tour
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07:23 EDTEHTHeHealth downgraded to Sector Perform from Outperform at RBC Capital
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07:01 EDTAGNAllergan announces approval of amendments to company bylaws
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06:22 EDTVRX, AGNZoetis price target raised to $49 from $44 at Citigroup
Citigroup raised its price target for Zoetis (ZTS) shares to $49 after activist Pershing Square confirmed the accumulation of a 10% stake in the company. Citi thinks Pershing is interested in advocating for a sale of Zoetis, potentially to Valeant (VRX) if its bid for Allergan (AGN) fails. Citi believes others, including Bayer (BAYRY), could be interested in acquiring Zoetis. It keeps a Buy rating on the stock.
November 11, 2014
16:24 EDTVRXOn The Fly: Closing Wrap
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16:01 EDTFBOptions Update; November 11, 2014
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15:46 EDTVRX, AGNPershing Square, Sachem Head build 10% stake in Zoetis, WSJ reports
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15:26 EDTFBYelp continues to gain traction in Local search, says Cowen
Cowen's checks indicate Yelp (YELP) continues to gain traction in Local search through Google (GOOGL) and Facebook (FB). The firm continues to see Yelp's Local ad revenue growing 60% in 2014 and believes the company will continue to beat numbers.
09:37 EDTEBAYeBay October SSS up 4.4%, Amazon SSS up 32.4%, ChannelAdvisor says
ChannelAdvisor released October same-store sales data for eBay (EBAY) and Amazon (AMZN) in a blog post. The research company reported eBay's October SSS growth came in at 4.4%, down from September's 8.9% and below the e-commerce growth rate of about 15% reported by ComScore. Amazon's October SSS growth came in at 32.4%, which was a decrease compared to August's 37.9% rate, ChannelAdvisor stated. Reference Link
08:32 EDTAGN, VRXValeant likely to raise offer for Allergan again, says Bernstein
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08:15 EDTEBAYAlibaba says willing to collaborate with PayPal in future, Bloomberg reports
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November 10, 2014
15:57 EDTEBAYWorldwide Business Research to hold a conference
ProcureCon for Digital & Marketing Services 2014 is being held in San Antonio on November 11-13.
12:53 EDTFBFacebook says has over 50M monthly active users for Messenger
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10:48 EDTFBFacebook enhances users' control over News Feeds
Facebook on Friday announced that News Feed settings will now show a list of the top people, Pages and Groups that users have seen in their News Feeds over the past week. Users can choose to sort by people, Pages or Groups posts, or see an overall summary., the social network said. They can unfollow any friend, Page or Group if they don’t want to see their stories in their News Feeds, Facebook added. Users can also see who they’ve unfollowed in the past and can choose to re-follow them at anytime, the company stated. If users see a story they're not interested in or don’t want to see, they can tap the arrow in the top right of that story to hide it, Facebook said. Reference Link
09:35 EDTFBActive equity options trading
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07:23 EDTCOUPRBC Capital to hold a conference
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07:06 EDTCOUPCoupons.com announces partnership with Samsung for mobile savings
Coupons.com (COUP) announced a strategic partnership with Samsung (SSNLF) to power mobile savings for more than 20M Samsung flagship devices in the U.S. Shoppers can now add Coupons.com's Card Linked Offers via their Samsung Wallet for automatic redemption at checkout.
06:02 EDTINOInovio reports Q3 EPS (12c), consensus (14c)
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November 9, 2014
13:26 EDTVRX, AGNAckman's Allergan court win may prove costly down the road, Bloomberg says
When U.S. District Court Judge David Carter ruled on November 4 that Pershing Square can vote its 9.7% stake in Allergan (AGN) in a shareholder ballot aiming to remove Allergan directors, he also noted that there were “serious questions” regarding insider trading rules in the way Pershing Square acquired Allergan stock while preparing a bid with Valeant (VRX), says Bloomberg. Reference Link
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