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Stock Market & Financial Investment News

News Breaks
July 3, 2013
10:00 EDTMMLP, RHI, GMT, CQP, MNK, ASGN, ECL, FOXA, CLDX, ROL, MAN, CTASOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 21st Century Fox (FOXA) initiated with a Buy at Needham... Cheniere Energy Partners (CQP) initiated with an Outperform at RBC Capital... Cintas (CTAS) initiated with an Outperform at RBC Capital... Ecolab (ECL) initiated with an Outperform at RBC Capital... GATX Corp. (GMT) initiated with an Equal Weight at Stephens... Manpower (MAN) initiated with a Sector Perform at RBC Capital... On Assignment (ASGN) initiated with an Outperform at RBC Capital... Robert Half (RHI) initiated with an Outperform at RBC Capital... Rollins (ROL) initiated with a Sector Perform at RBC Capital... Mallinckrodt (MNK) initiated with a Buy at BofA/Merrill... Martin Midstream Partners (MMLP) initiated with a Neutral at BofA/Merrill... Celldex (CLDX) initiated with a Buy at Guggenheim.
News For FOXA;CQP;CTAS;ECL;GMT;MAN;ASGN;RHI;ROL;MNK;MMLP;CLDX From The Last 14 Days
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November 17, 2014
11:11 EDTCLDXHigh option volume stocks:
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09:34 EDTCLDXiPath S&P 500 VIX Short-Term Futures are recently up 19c to 28.86
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08:19 EDTCLDXCelldex Rindo data looks like 'home run,' says Cowen
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07:12 EDTCLDXCelldex data better than expected, says Cantor
Cantor believes that data from the Phase II trial of Celldex's rindopepimut in EGFRvIII-positive glioblastoma multiforme patients exceed expectations. The firm thinks the data is likely to trigger a turning point in the shares. Cantor keeps a $33 price target and Buy rating on the stock.
November 14, 2014
17:27 EDTMNKPaulson & Co. gives quarterly update on stakes
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15:57 EDTCLDXCelldex to meet with FDA, propose accelerated approval filing, Feuerstein says
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15:42 EDTCLDXCelldex sees significant survival benefit in Avastin-naive phase 2 trial
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09:51 EDTMNKMallinckrodt management to meet with Oppenheimer
Meeting to be held in Europe on November 20 hosted by Oppenheimer.
November 13, 2014
10:44 EDTMNKMallinckrodt news on generic Concerta positive for Actavis, says BMO Capital
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08:36 EDTCLDXCelldex to host conference call
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08:20 EDTMNKMallinckrodt could be down $6-$8 on FDA reclassification, says UBS
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07:24 EDTASGNSunTrust to hold a conference
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07:10 EDTCLDXSociety for NeuroOncology to hold a meeting
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06:17 EDTFOXASony unveils PlayStation Vue, a cloud-based TV service
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06:11 EDTMNKMallinckrodt responds to FDA expected reclassification of methylphenidate ER
Mallinckrodt has been informed by the FDA that the agency has reason to believe that the company’s methylphenidate hydrochloride extended-release, or ER, tablets, USP may not be therapeutically equivalent to the category reference drug Concerta. As a result, the agency indicated that it has reclassified Mallinckrodt’s ANDA 202608 for methylphenidate ER dosage strengths of 27mg, 36 mg and 54 mg from AB to BX. The agency said that this change was based on the application of its new Draft Guidance for determining bioequivalence of methylphenidate hydrochloride products just published on November 6, 2014. Although the Draft Guidance has an open comment period through January 5, 2015, the agency nevertheless confirmed that this change would be reflected on November 13, 2014 in the on-line Orange Book: Approved Drug Products with Therapeutic Equivalence Evaluations. Mallinckrodt strongly believes its methylphenidate ER products are safe and effective when used in accordance with the approved labels. Mark Trudeau, president and CEO of Mallinckrodt stated, “We believe that the FDA’s actions are not supported by sound scientific evidence and not consistent with the best interests of patients." Mallinckrodt methylphenidate ER products have consistently met all quality specifications and the regulatory requirements originally defined by the FDA, and in the 21 months since launch more than 88M doses of these products have been prescribed. In that time, and across all of those patient exposures, the company has received only 68 confirmed adverse events related to a lack of efficacy when the patient switched from the reference listed drug to the company’s methylphenidate ER products.
November 12, 2014
11:17 EDTCLDXLeerink major pharma & biotech analysts hold analyst/industry conference call
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10:43 EDTFOXABernstein downgrades Discovery, Viacom, citing 'structural decline' in TV
Research firm Bernstein sees strong evidence that audiences of ad-supported TV have entered a period of "structural decline." The firm cut its rating on Discovery (DISCA), the owner of the Discovery Channel and Animal Planet cable stations, and Viacom (VIA,VIAB), which owns MTV and and Nickelodeon. The firm also cut its price target on CBS (CBS). WHAT'S NEW: Noting that audiences for ad-supported TV have fallen by unprecedented amounts for four months, Bernstein analyst Todd Juenger added that consumption of subscription video on demand, or SVOD, services continue to grow. Meanwhile, TV networks are seeing increased competition from Internet websites for ad dollars, limiting the ability of the networks to raise ad prices, Juenger stated. The profit margins and return on investment of content owners are likely to decline over time, the analyst believes. He downgraded Discovery to Market Perform from Outperform and set a $37 price target on the stock, and cut Viacom to Underperform from Market Perform, placing a $71 price target on that stock. Juenger reduced his price target on CBS to $55 from $60 and kept a Market Perform rating on the shares. He kept Outperform ratings on 21st Century Fox (FOXA), Disney (DIS), and Time Warner (TWX), saying that those are least affected by the trend, as they are less dependent than their peers on the American TV ad market and have a large amount of sports programming. PRICE ACTION: In mid-morning trading, Discovery lost 0.6% to $31.81, Viacom class A shares gained 0.6% to $70.09, CBS fell 0.7% to $51.48, Twenty-First Century Fox class A shares lost 0.5% to $34.75, Time Warner fell 0.5% to $77.69 and Disney was flat near $90 per share.
08:19 EDTMAN, ASGNJPMorgan to hold a conference
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November 11, 2014
15:43 EDTCLDXLeerink major pharma & biotech analysts hold analyst/industry conference call
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November 10, 2014
16:28 EDTCLDXOncothyreon, Celldex announce initiation of ONT-10, varlilumab clinical trial
Oncothyreon Inc. (ONTY) and Celldex Therapeutics (CLDX) announced that they have initiated a combined clinical trial of ONT-10 and varlilumab. ONT-10 is a therapeutic vaccine targeting the tumor-associated antigen MUC1. Varlilumab is a fully human monoclonal antibody that targets CD27, a critical molecule in the activation pathway of lymphocytes. The trial is an open-label Phase 1b study of ONT-10 administered at the recommended single agent dose in combination with varlilumab at two dose levels in up to 42 patients with advanced breast or ovarian cancer. The primary objective of the trial is to determine the safety and tolerability of the combined therapy. Additional objectives include evaluations of the impact of combination treatment on MUC1-specific humoral and cellular immune responses, T-cell activation markers and levels of regulatory T-cells, and anti-tumor effects. The Phase 1b trial will be conducted by Oncothyreon under the terms of a previously announced collaboration agreement between Oncothyreon and Celldex. The two companies will jointly own the data from the trial and will make any plans for potential future development of the combination therapy together. Under the agreement, neither company has granted the other a license, or any other rights, to its product candidate.
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