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Stock Market & Financial Investment News

News Breaks
October 5, 2012
07:37 EDTPFE, FOLD, SHPG, SNY, PLX, BMRNLeerink's biotech analyst Schwartz holds an Analyst/Industry conference call
Biotech Analyst Schwartz, along with a MEDACorp Key Opinion Leader Gregory M. Pastores, Associate Professor of Neurology & Pediatrics and N.Y. University School of Medicine, discuss Lysosomal Storage Disorders including Fabry, Gaucher, Morquio syndrome and Pompe disease and the current treatments, challenges and pipeline agents in development in a meeting in Leerink's New York offices and on an Analyst/Industry conference call. Relevant covered companies FOLD, BMRN, SNY, PFE, PLX and SHPG may be included on the Analyst/Industry conference call to be held on October 5 at 8 am.
News For FOLD;BMRN;SNY;PFE;PLX;SHPG From The Last 14 Days
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May 17, 2013
08:03 EDTSNYSanofi reports positive topline results from pivotal Phase III Jakarta study
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05:18 EDTSNYSanofi says JAK2 inhibitor for myelofibrosis met primary endpoint
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May 16, 2013
12:24 EDTBMRNOn The Fly: Midday Wrap
The S&P 500 was virtually unchanged at midday following a deluge of domestic economic data this morning. The S&P began the session in negative territory, but only moderately lower, after investors received a host of data prior to the open, including reports on jobless claims, consumer prices, and housing starts. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 32K to 360K last week, compared to expectations for them to remain relatively stable at 330K. The consumer price index dropped a larger than forecast 0.4% in April, though the "core" CPI rate rose 0.1%, as expected. Housing starts were down 16.5% in April from the prior month, versus an expected decrease of 6.4%, though building permits jumped 14.3% from the prior month, beating an expected increase of 3.8%. The Philadelphia Fed General Business Conditions Index for May came in at -5.2, versus expectations for a +2.2 reading. COMPANY NEWS: Earnings reports from two Dow members, Wal-Mart (WMT) and Cisco (CSCO), sent their shares in opposite directions. Cisco shares advanced 12% to lead the blue chip index after the company's results beat expectations on the top and bottom lines and prompted price target increases at several analyst firms. Wal-Mart, in contrast, lagged all Dow names, sliding 2% after its earnings for the just ended quarter and its view of the current quarter missed the consensus forecast... After the closing bell, Tesla Motors (TSLA) said it intends to raise about $830M by offering 2.7M common shares and $450M in convertible senior notes. CEO Elon Musk will buy $100M worth of the stock and debt, the company said, and its recently high-flying shares rose another 6%. MAJOR MOVERS: Among the notable gainers rising following Cisco's better than expected results and commentary were Ciena (CIEN), which rose 8%, and Cavium (CAVM), which advanced 4%. Also higher were shares of NetApp (NTAP), which gained over 6% after Bloomberg said activist investor Elliott Management has taken a stake in the company and is pushing its board to explore ways to boost shareholder value. Among the noteworthy losers were Oncothyreon (ONTY), which fell 20%, and Biomarin (BMRN), down 5%, after both pharmaceutical companies, among a number of others, published data to be presented at ASCO, an annual meeting of oncologists. Also lower was AMD (AMD), which declined 14% following a downgrade to Sell at Goldman Sachs. INDICES: Near noon, the Dow was up 12.47, or 0.08%, to 15,288.16; the Nasdaq was up 8.74, or 0.25%, to 3,480.36; and the S&P 500 was nearly flat at 1,658.80.
11:50 EDTBMRNCelgene, Gilead lower after new data published at ASCO
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11:15 EDTPLXHigh option volume stocks: HMY MOLX PLX DSW EGLE
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09:03 EDTBMRNBioMarin volatility low, shares near record high into ACSO
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08:55 EDTPFEBofA/Merrill's pharmaceuticals analysts hold analyst/industry conference call
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08:33 EDTBMRNBioMarin abstract showed impressive anti-tumor activity, says Leerink
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May 15, 2013
15:16 EDTSNYSanofi systemic sclerosis treatment designated for orphan drug status
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05:39 EDTSNYSanofi, Regeneron announce patient enrollment in two Phase 3 trials
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May 14, 2013
07:24 EDTSHPGEBD Group to host a conference
BioTrinity 2013 is being held in Newbury, England on May 14-16.
May 13, 2013
09:44 EDTSNYSeveral companies reportedly interested in buying Adcock Ingram, Globes says
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07:39 EDTBMRNBioMarin price target raised to $75 from $59 at Deutsche Bank
Deutsche Bank raised its price target for BioMarin citing increased value for the company's parp inhibitor. The firm keeps a Buy rating the stock.
07:30 EDTSNYTechConnect to host a summit
2013 National Innovation Summit is being held in Washington, D.C. on May 12-16.
May 10, 2013
16:29 EDTPFEOn The Fly: Closing Wrap
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12:31 EDTPFEOn The Fly: Midday Wrap
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11:48 EDTSNY, PFEDrugmakers to face pressure on U.S. prices, Reuters says
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10:00 EDTSHPGOn The Fly: Analyst Downgrade Summary
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09:21 EDTPFEOn The Fly: Pre-market Movers
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08:08 EDTPFEPain Therapeutics discloses Pfizer reassessing continued Remoxy partnership
Pain Therapeutics (PTIE) disclosed a letter its CEO was sent from partner Pfizer (PFE) in which the drug maker said it is reassessing its endorsement of the Remoxy program "given the years of delay, additional cost incurred to bring the program to this point and development work left in the program." Pfizer said it will be reaching out to Pain Therapeutics "shortly" to have a confidential discussion about the terms of the companies' contractual agreement over the pain drug. Pfizer that it appears there is a regulatory pathway forward for Remoxy, but that the company does not expect to respond to submit a Complete Response letter for Remoxy to the FDA before mid-2015. Pfizer added in its letter to Pain Therapeutics "no final decision has been made at this time" on how it will proceed with the Remoxy development program. Shares of Pain Therapeutics fell 47% to $2.81 in pre-market trading following the disclosure of the correspondence.
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