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Stock Market & Financial Investment News

News Breaks
December 14, 2012
16:25 EDTPAY, QUAD, ADBE, BBY, RIGL, GE, ARIAOn The Fly: Closing Wrap
Stocks on Wall Street finished lower after the averages sat just below the flat line for much of the session. Stocks moved lower during the final ninety minutes of trading, leaving each of the major averages down on the week... ECONOMIC EVENTS: In the U.S., a report showed consumer prices declined 0.3% in November, mainly because of falling gasoline costs. When food and energy are removed from the equation, "core" prices increased 0.1%, versus expectations for them to rise 0.2%. Markit's preliminary manufacturing PMI improved to 54.2 in December, versus the 52.8 final reading for November. Industrial production beat expectations with a 1.1% increase in November, versus expectations for a rise of 0.3%. Industrial production capacity utilization rose to 78.4%, which was a bit more than an expected move up to 78.0%. In China, Markit's flash China PMI rose to a 14-month high reading of 50.9, beating expectations for a 50.8 reading. In Europe, Germany's flash PMI hit an 8-month high with a 50.2 reading... COMPANY NEWS: General Electric (GE) boosted its dividend by 12% to 19c per share and increased its existing share repurchase authorization by $10B... Among companies reporting earnings last night, Adobe (ADBE) shares rose $2.05, or 5.77%, to $37.58, while shares of VeriFone (PAY) declined $3.63, or 10.92%, to $29.60... MAJOR MOVERS: Among the notable gainers was Rigel Pharmaceuticals (RIGL), up $1.01, or 18.33%, to $6.52 after Leerink called the recent pullback a "temporary dislocation" and maintained an Outperform rating in the name. Also higher were shares of Quad/Graphics (QUAD), up $2.40, or 14.36%, to $19.11 after the company increased its quarterly dividend by 20% and declared a $2.00 per share special dividend. Among noteworthy losers was Aria Pharmaceuticals (ARIA), down $4.95, or 20.73%, to $18.93 after announcing that its leukemia treatment was approved by the FDA, though the regulator required that the drug include a "Boxed Warning." Shares of Best Buy (BBY) also slid $2.07, or 14.66%, to $12.05 after the company's board extended the deadline for founder Richard Schulze to deliver a potential buy-out bid... INDICES: The Dow was down 35.71, or 0.27%, to 13,135.01; the Nasdaq was down 20.83, or 0.70%, to 2,971.33; the S&P 500 was down 5.87, or 0.41%, to 1,413.58.
News For GE;ADBE;PAY;RIGL;QUAD;ARIA;BBY From The Last 14 Days
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August 4, 2015
07:34 EDTARIAUBS to hold a symposium
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06:47 EDTGENRG Yield completes 25% interest acquisition in Desert Sunlight
On June 29, 2015, NRG Yield (NYLD) acquired a 25% interest in the Desert Sunlight Solar Farm in Riverside, CA from GE (GE) for $285M, subject to working capital adjustments, plus the assumption of $287 million of non-recourse project level debt. The acquisition, which results in an increase of 137.5 MW of operating solar capacity owned by NRG Yield, places the company into a partnership with subsidiaries of NextEra Energy and Sumitomo Financial, who are the 50 percent and 25 percent owners of Desert Sunlight, respectively. The transaction is expected to contribute Adjusted EBITDA of $45 million and CAFD of $22M on an annual run rate basis.
06:25 EDTADBEAds on Yahoo sites hacked by cyberattack group, Business Insider reports
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July 31, 2015
10:48 EDTBBYGoPro soars after Citi ups target to $90 on drone, VR potential
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July 30, 2015
17:50 EDTGEGE exec sees $10B in projects going overseas due to Ex-Im trouble, Reuters says
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10:13 EDTBBYOptions with increasing implied volatility
Options with increasing implied volatility: ESPR SRPT CX RAX YY SPLK QIHU HFC OWW BBY
09:01 EDTBBYAmerican Express, Best Buy announce e-commerce technology integration
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July 29, 2015
10:41 EDTBBYOptions with increasing implied volatility
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10:27 EDTBBYOptions with decreasing implied volatility
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07:47 EDTARIAARIAD to receive $200M through syntehtic-royalty financing with PDL BioPharma
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07:43 EDTARIAARIAD to receive up to $200M through Iclusig synthetic-royalty financing with PDL BioPharma
ARIAD Pharmaceuticals (ARIA) announced that it will receive $100 million in cash – $50 million upon deal execution late yesterday and an additional $50 million in one year – through a synthetic-royalty financing from PDL BioPharma (PDLI) in exchange for paying PDL a mid-single-digit royalty on future sales of Iclusig until PDL receives a fixed internal rate of return. ARIAD also has an option, in its discretion, to receive up to an additional $100 million at any time between 6 and 12 months from the date of the agreement, in one or two tranches on comparable terms. ARIAD intends to use the base funds to conduct a front-line trial of brigatinib, its investigational ALK inhibitor, in patients with non-small cell lung cancer and to support brigatinib commercial readiness, as well as to continue its ongoing Iclusig initiatives. ARIAD is on track to complete enrollment in the pivotal ALTA trial of brigatinib in third quarter 2015, to file for approval in the U.S. next year, and subject to regulatory approval, to launch brigatinib by early 2017. Brigatinib has Breakthrough Designation from the U.S. Food and Drug Administration. “This financing allows us to accelerate initiation of the front-line trial of brigatinib and to ensure launch readiness as early as possible, while retaining strategic flexibility with respect to partnering and long-term commercialization of brigatinib,” said Harvey J. Berger, M.D., chairman and CEO of ARIAD. “We are confident based on the latest clinical data on brigatinib and other ALK‐inhibitors, that brigatinib may be an important new cancer medicine for patients with ALK+ lung cancer. With the funding provided by this royalty transaction, we expect to start the front-line trial by early next year, ahead of our expected filing for initial marketing approval of brigatinib in patients with refractory ALK+ NSCLC.”
05:30 EDTGEGE Healthcare to invest $1B for training and education solutions by 2020
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July 28, 2015
10:07 EDTGEGE in talks to sell assets to Ansaldo Energia, Reuters reports
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July 27, 2015
12:46 EDTGEAlstom to accept EUR300M hit to assist GE deal completion
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06:38 EDTGEGE intends to be 'sizable' player in energy storage market, Reuters reports
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06:05 EDTBBYBest Buy to begin selling Apple Watch in August, WSJ reports
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July 24, 2015
15:17 EDTGECapital One, Apollo Global weigh final bids for GE unit, Bloomberg says
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July 23, 2015
19:24 EDTBBYWal-Mart's Apple Pay competitor launching soon, Bloomberg says
CurrentC, the mobile payment application funded by Wal-Mart (WMT), Target (TGT), Best Buy (BBY) and others, will see an early trial run next month, Bloomberg reported earlier, citing three people familiar with the situation. A spokesperson for Lowe's (LOW) said the consortium behind the app expects an official launch in Q3, and Bloomberg noted that CurrentC will compete with more "established" offerings such as Apple's (AAPL) Apple Pay and Google's (GOOG) Android Pay. Reference Link
08:11 EDTGEGE's CDF unit extends inveotry finance program with Husqvarna Group
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July 22, 2015
07:23 EDTGEFrench minister 'reassured' by elements of Alstom, GE deal talks, Reuters says
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