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January 29, 2013
12:11 EDTF, HES, YHOO, SANM, BMC, STX, LXK, LLY, PFE, BSX, BTU, VLO, DHI, EMC, VMW, KERXOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday in spite of a consumer confidence reading that plunged to its lowest level in more than a year after workers assessed the impact of increased payroll taxes. Though the Nasdaq was marginally lower near noon, the Dow's move higher pushed it back near its 14,164.53 all time high... ECONOMIC EVENTS: In the U.S., the November S&P/Case-Shiller 20-city Home-Prices Index was up a seasonally adjusted 0.6% from the prior month, versus expectations for a 0.7% increase. On a year-over-year basis, the 20-city index rose 5.5%, which was nearly in-line with consensus. The Consumer Confidence reading for January fell to 58.6, versus expectations for a smaller decline to 64.0... COMPANY NEWS: Ford (F) reported quarterly results that widely beat expectations on both the top and bottom lines, but shares fell nearly 6% after the company also said it now expects to lose about $2B in Europe this year... Among others reporting earnings last night and this morning, advancers included DR Horton (DHI), Valero (VLO), Peabody Energy (BTU), Boston Scientific (BSX), Pfizer (PFE) and Eli Lilly (LLY); decliners included Lexmark (LXK), Seagate (STX), BMC Software (BMC), Yahoo! (YHOO) and Sanmina (SANM)... MAJOR MOVERS: Among the notable gainers was Hess (HES), which added almost another 10% after being up more than 6% yesterday. Shareholder Elliott Management, which is seeking to elect five directors to Hess' board, said that if managed appropriately, the equity value of Hess could be up to $126 per share. Also higher for a second straight session were shares of Keryx Biopharmaceuticals (KERX), up over 33% today after the price target on its shares was raised by at least three more firms. Among the noteworthy losers was VMware (VMW), which fell 20% and was downgraded by at least six firms following its Q4 results and FY13 guidance. Also lower by more than 4% were shares of EMC (EMC), which holds a majority ownership stake in VMware. Like VMware, EMC reported stronger than expected quarterly results but issued a cautious outlook for the year ahead... INDICES: Near noon, the Dow was up 55.11, or 0.40%, to 13,937.04; the Nasdaq was down 2.75, or 0.09%, to 3,151.55; and the S&P 500 was up 4.50, or 0.30%, to 1,504.68.
News For F;VMW;EMC;DHI;VLO;BTU;BSX;PFE;LLY;LXK;STX;BMC;SANM;YHOO;HES;KERX From The Last 14 Days
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August 22, 2014
05:28 EDTYHOOSoftbank capital raise could be used for acquisitions, Bloomberg says
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August 21, 2014
13:32 EDTPFEBristol-Myers, Pfizer announce approval of Eliquis for treatment of DVT, PE
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11:26 EDTFFord asks dealers to stop selling certain Focus, C-Max cars, Reuters reports
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09:54 EDTPFEPotential Pfizer, AstraZeneca deal seen around year-end, Reuters says
Investors and analysts see Pfizer (PFE) making another attempt to acquire AstraZeneca (AZN) around year-end, even though talks between the two can resume on August 26 per British takeover rules, Reuters reports. Reference Link
08:02 EDTPFEPfizer initiates U.S. EAP for palbociclib.
Pfizer announced that the company has initiated a multi-center, open-label expanded access program in the U.S. for palbociclib. Through the program, palbociclib is being made available for use in combination with letrozole for post-menopausal women with hormone receptor positive human epidermal growth factor receptor 2 negative advanced breast cancer for whom letrozole is considered appropriate therapy.
07:55 EDTPFEActavis volatility expected to move on Pfizer considering new target report
Actavis (ACT) volatility is expected to move on Pfizer (PFE) considering other overseas alternatives, Bloomberg reports. Overall option implied volatility of 27 is near its 26-week average of 31 according to Track Data, suggesting decreasing price movement.
07:47 EDTPFEPfizer looking at new targets, including Actavis, Bloomberg reports
While it weighs another attempt to acquire AstraZeneca (AZN), Pfizer is considering other overseas alternatives, including Actavis (ACT), Bloomberg reports, citing people familiar with the matter. Pfizer prefers to reach a deal with AstraZeneca, and a move on another company is unlikely "anytime soon," Bloomberg adds, citing its sources. Shares of Actavis are rising 3%, or $6.65, to $230.01 in pre-market trading, while AstraZeneca is up 2% to $72.59. Reference Link
07:18 EDTFChina considering new anti-trust rules for auto sector, China Daily says
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07:12 EDTLLYEli Lilly announces results from pivotal UNCOVER studies for ixekizumab
Eli Lilly announces that its investigational medicine ixekizumab was statistically superior to etanercept and placebo on all skin clearance measures in Phase 3 studies. Patients treated with both dosing regimens of ixekizumab had significantly greater levels of skin clearance compared to placebo and to etanercept at the 12-week endpoint. Skin clearance was measured by standard primary endpoints for psoriasis studies: the Psoriasis Area and Severity Index and the Static Physician Global Assessment. For patients treated with ixekizumab either every four weeks or every two weeks, between 78 to 90 percent of patients achieved at least a 75 percent reduction in PASI score at 12 weeks. Additionally, 31 to 41 percent of these patients achieved PASI 100, or clear skin, at week 12. For comparison, between 5 to 7 percent of patients treated with etanercept in the UNCOVER-2 and 3 studies achieved PASI 100. Adverse events were comparable for patients receiving ixekizumab in the 12-week, randomized control portion across all three studies.
06:08 EDTFGM launches new round of discounts for Labor Day weekend, WSJ reports
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August 20, 2014
20:03 EDTFFord planning hybrid to compete with Toyota Prius, Reuters reports
Ford (F) is planning to introduce a new hybrid gasoline-electric car in late 2018 to compete against the Toyota (TM) Prius, according to Reuters, citing two sources with knowledge of the company's plans. It will be the company's first "dedicated" hybrid, unlike the hybrid Fusion, which is a variation of an existing gasoline model. Reference Link
16:07 EDTVMWVMware acquires CloudVolumes, terms undisclosed
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12:11 EDTYHOOStocks with call strike movement; UAL YHOO
United Continental (UAL) December 55 call option implied volatility decreased 3% to 42, Yahoo (YHOO) November 45 call option implied volatility increased 2% to 42 according to IVolatility.
11:49 EDTYHOOBofA/Merrill telecom services analysts hold an analyst/industry conference call
Analysts discuss the upcoming IPO of Alibaba, which is expected to launch early September 2014, on an Analyst/Industry conference call to be held on August 21 at 8 am.
08:03 EDTPFEBristol-Myers Pfizer to present new Eliquis data
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August 19, 2014
09:38 EDTVLOActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL GILD TSLA CELG VLO VZ FB HD
08:11 EDTEMC, VMWVMware promotes Betsy Sutter to SVP, Chief People Officer
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08:09 EDTEMC, VMWVMware updates executive responsibilities
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05:48 EDTYHOOStocks with implied volatility movement; AEO YHOO
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05:14 EDTBSXBoston Scientific, ASAHI INTECC announce joint development programs
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