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Stock Market & Financial Investment News

News Breaks
June 10, 2014
16:28 EDTRCPT, COUP, FB, INO, VRX, EBAY, EHTH, AGNOn 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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June 16, 2015
14:47 EDTFBBanking sources say Twitter open to potential sale, Gasparino says
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14:23 EDTRCPTReceptos price target raised to $348 at Wedbush on M&A potential
Wedbush analysts Liana Moussatos and Kelechi Chikere said they'd interpreted Receptos (RCPT) comments with its earnings report in May about its ability to commercialize ozanimod on its own as a message to potential buyers that their bids were too low. Following a recent report from Proactive Investors, which claimed that Receptos had turned down bids of $200 per share from AstraZeneca (AZN) and $280 per share from Teva (TEVA) and Gilead (GILD), the analysts said they have reconsidered their valuation assumptions, as they believe these bid values could be accurate. Wedbush raised its fair value estimate on Receptos to $348 from $211, citing a belief in increased industry interest in ozanimod and the rest of Receptos’ pipeline, and maintains an Outperform rating on the stock.
14:06 EDTRCPTReceptos price target raised to $348 from $211 at Wedbush
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14:05 EDTEBAYeBay targeting sale of Enterprise unit before split, Bloomberg says
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11:08 EDTVRXValeant in advanced discussions to acquire Amoun, Bloomberg reports
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09:36 EDTFBActive equity options trading on open
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06:56 EDTFBFacebook plans to build EUR200M data center in Meath, TheJournal.ie reports
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06:31 EDTFBBelgian Privacy Commission adopts first recommendation of principle on Facebook
The Belgian Privacy Commission said in a statement that on May 13 it adopted a first recommendation of principle on Facebook. "It has observed that Facebook 'processes' the personal data of its members, users as well as of all internet users who come into contact with Facebook. Facebook does this secretively: no consent is asked for this 'tracking and tracing' and the use of cookies. No targeted information is provided. The available information is vague and authorizes just about anything. Following the introduction of new worldwide terms of use by Facebook, a number of European privacy commissions queried Facebook, which was particularly sparing with precise answers and also refused to comply with the request to postpone the entry into force of the new terms of use. Facebook did not accept that it was bound by the national privacy legislation of Belgium, the Netherlands and Germany. It rejected the competence of those countries' supervisory authorities for privacy. Facebook only accepts supervision by the Irish privacy commission and the application of Irish law.After months of unsuccessful correspondence and fruitlessly exchanging ideas, the Belgian Privacy Commission has now adopted a first recommendation. This document establishes first of all that the Belgian Privacy Commission is competent and that Belgian law also applies to Facebook, simply because any national supervisory authority is obliged to ensure privacy protection for its citizens. And Belgian law also applies because the Facebook Group has an actual establishment in Brussels, Belgium. At the request of the Belgian Privacy Commission the inter-university research center EMSOC/SPION conducted a detailed study into the way in which Facebook deals with its members' personal data. And that of citizens who do not use Facebook or who explicitly opted out of its service.The research results are disconcerting. Facebook disregards European and Belgian privacy legislation in several ways. In 10 chapters an equal amount of issues have been uncovered. It is the Belgian Privacy Commission's ambition to thoroughly look into these issues. Until today, the eighth chapter - 'tracking trough social plug-ins' - has been the focus of attention, because it does not only impact Facebook users but also virtually every Internet user in Belgium and Europe. Up to this day Facebook refuses to recognize the application of Belgian legislation nor the Belgian Privacy Commission. Until now it has always contested the findings of the EMSOC/SPION research report, but it has not provided concrete facts repudiating them. To the contrary: Facebook recognizes that errors, 'BUGS' have been uncovered." Reference Link
06:13 EDTEBAYAlibaba, Foxconn could invest $500M in Snapdeal, WSJ reports
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05:45 EDTAGNAllergan, Richter announce FDA has extended review period for cariprazine
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June 15, 2015
16:00 EDTFBOptions Update; June 15, 2015
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15:35 EDTAGNAllergan CEO says not considering sale of generics unit, Bloomberg reports
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13:07 EDTFBFacebook announces Moments standalone app
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12:26 EDTFBLegal action taken by Belgian privacy entity against Facebook, Reuters says
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10:26 EDTRCPTOptions with increasing implied volatility
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09:53 EDTAGNActavis adopts Allergan as global name, now trading with ticker 'AGN'
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09:38 EDTFBActive equity options trading on open
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09:16 EDTAGNInternational Parkinson & Movement Disorder Society to hold a conference
9th International Congress of Parkinson's Disease and Movement Disorders is being held in San Diego, CA on June 14-18.
08:48 EDTFBFacebook poised to benefit from Internet ad growth, says RBC Capital
RBC Capital says that it "sees something of" a positive turning point in Internet advertising, driven by demand for video and mobile ads. The firm thinks that Facebook (FB) may be the biggest beneficiary of this trend. RBC finds the stock's valuation "highly attractive" and identifies Facebook as its second favorite large cap Internet stock behind Amazon (AMZN). RBC keeps a $105 price target and Outperform rating on Facebook.
06:14 EDTVRXValueAct lowers stake in Valeant to 4.4% from 5.6%
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