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Stock Market & Financial Investment News

News Breaks
March 20, 2014
09:10 EDTGES, CIDM, BGMD, BURL, LEN, SNTA, GSK, FSLR, SSYS, DDD, XONE, TLYSOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Burlington Stores (BURL), up 5%... Lennar (LEN), up 2%... BG Medicine (BGMD), up 16%. ALSO HIGHER: Synta Pharmaceuticals (SNTA), up 20% after announcing positive interim results from ganetespib trial... First Solar (FSLR), up 3.5% after the company's price target was raised at Deutsche Bank, JPMorgan and RW Baird following the company issued it FY15 outlook yesterday. DOWN AFTER EARNINGS: Guess (GES), down 5%... Tilly's (TLYS), down 7%... ExOne (XONE), down 12%. Peers in 3D space down as well, with 3D Systems down 3% and Stratasys (SSYS) down 2%. ALSO LOWER: Agenus (AGEN), down 18% after announcing that GlaxoSmithKline’s (GSK) MAGRIT study, which contains Agenus’QS-21 Stimulon adjuvant, did not meet its first or second co-primary endpoint... Cinedigm Digital (CIDM), down 12% after filing to sell common stock.
News For GES;XONE;DDD;SSYS;FSLR;GSK;SNTA;LEN;BURL;BGMD;CIDM;TLYS From The Last 14 Days
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July 24, 2014
13:29 EDTGSKGlaxoSmithKline facing bribery allegations in Syria, Reuters says
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12:41 EDTGSKGlaxoSmithKline reports FDA approves Flonase for OTC sales in U.S.
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11:45 EDTGSKGlaxoSmithKline downgraded to Sell from Neutral at UBS
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06:13 EDTGSKGlaxoSmithKline's malaria vaccine candidate accepted for EU regulatory review
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July 23, 2014
10:19 EDTDDD3D Systems calls active on renewed takeover speculation
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09:59 EDTDDDRumor: 3D Systems strength attributed to renewed takeover speculation
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09:33 EDTGSKGlaxoSmithKline reports record Promacta/Revolade Q2 revenue of $92M
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09:17 EDTGSKOn The Fly: Pre-market Movers
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07:19 EDTGSKGenmab reports Q2 Arzerra net sales GBP 12.8M
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07:12 EDTGSKGlaxoSmithKline lowers 2014 core EPS outlook to 'similar' to 2013
GSK now expects 2014 core EPS to be "broadly similar" to 2013 versus previous expectations of 4%-8% growth. It added, "Given impact of recent sustained strength of Sterling on free cash flow, share repurchases over balance of 2014 likely to be immaterial."
07:09 EDTGSKGlaxoSmithKline reports Q2 core EPS down 12% to 19.1p
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07:09 EDTGSKMylan wins restraining order against Apotex for generic version of GSK's Paxil
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July 22, 2014
10:01 EDTSNTASynta Pharmaceuticals strength a selling opportunity, says Stifel
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09:55 EDTGSKLupin, private equity funds weigh bids for GSK's older drugs, Reuters reports
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09:07 EDTSNTASynta Pharmaceuticals data positive, says JMP Securities
JMP Securities believes that early top-line data indicates Synta's ganetespib plus current standard of care, low-dose Ara-C provide clinical benefit in high-risk elderly patients with newly diagnosed AML and MDS. The firm says the results increase its confidence in a positive GALAXY-2 outcome in NSCLC and broad applicability of ganetespib across a variety of tumor types. It keeps an Outperform rating on the stock.
07:36 EDTFSLRFirst Solar shares dramatically undervalued, says Brean Capital
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06:37 EDTSSYS, DDDPiper recommends buying 3D space following pullback
Piper Jaffray recommends using the recent weakness in shares of 3D printing companies as a buying opportunity, saying its Q2 reseller/industry survey yielded favorable feedback. The firm has Overweight ratings on 3D Systems (DDD), Materialise (MTLS), Materialise (MTLS), Proto Labs (PRLB) and Stratasys (SSYS). It has a Neutral rating on Voxeljet (VJET).
July 21, 2014
16:32 EDTSNTASynta Pharmaceuticals advances ganetespib into Phase 3 extension of AML LI-1
Synta Pharmaceuticals announced the advancement of ganetespib into the Phase 3 extension of the AML LI-1 trial. AML LI-1 is a multicenter, randomized Phase 2/3 clinical study evaluating several novel treatment regimens, including the combination of ganetespib with low dose cytarabine, in newly diagnosed elderly patients with acute myeloid leukemia or high-risk myelodysplastic syndrome who are not eligible for intensive chemotherapy. Ganetespib is a next-generation inhibitor of the chaperone protein Hsp90, which is critical for the activation and stability of numerous proteins that drive cancer growth and proliferation. Ganetespib has been studied in over 1000 patients to date. Advancement into the Phase 3 extension follows an interim analysis of results from 50 patients who received the ganetespib-cytarabine combination in the Phase 2 portion of the trial. The primary efficacy outcome in Phase 2 was rate of complete response. Per protocol, the Phase 3 extension will include an interim futility analysis and enroll approximately 200 patients in the ganetespib-cytarabine and the cytarabine alone arms, for a total of approximately 400 patients. The primary efficacy endpoint for the Phase 3 extension will include overall survival. The Company is currently in discussion with study investigators, and anticipates providing additional details, including the timing of study milestones, as they become formalized. The AML LI-1 trial is the first of three multicenter, randomized studies supported by the Leukemia & Lymphoma Research Fund and Cancer Research UK to include a ganetespib treatment arm. AML LI-1 is being conducted under the auspices of the UK’s National Cancer Research Institute Haematological Oncology Study Group, with investigators in Denmark, France, New Zealand, and the UK, and under the sponsorship of Cardiff University, UK. The other two studies, to be initiated later this year, are the AML-18 trial, evaluating ganetespib with standard DA in patients over 60 years old who can tolerate intensive chemotherapy, and the AML-19 trial, evaluating ganetespib in combination with conventional chemotherapy in younger patients with AML.
07:11 EDTGSKInternational Society of DNA Vaccines to hold a conference
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July 18, 2014
12:48 EDTFSLRSolar stocks rise after successful IPO in space
Shares of solar energy companies are rising after a solar energy company's subsidiary surged on its first day of trading. WHAT'S NEW: The shares of SunEdison (SUNE) subsidiary TerraForm (TERP) are surging 36% in early afternoon trading. TerraForm Power opened at $33.26 and was trading near $34 per share at midday, after its initial public offering priced at $25 per share. TerraForm was formed to own and operate assets that generate clean power and the company plans to pay dividends. In a note to investors yesterday, Josh Baribeau, an analyst at Canaccord Genuity, wrote that TerraForm is a Yieldco. Subsidiaries of energy companies that own power plants and projects, Yieldcos typically trade on stock exchanges. Noting that TerraForm's IPO had priced at the high end of its expected range yesterday and was well oversubscribed, Baribeau wrote that this outcome reflects the strong demand for Yieldcos among investors. The Yieldcos provide investors with yield which is in high demand in today's low interest rate environment, the analyst stated. Additionally, as a result of the strong demand for Yieldcos' stocks, they provide their parent companies with "cheap and abundant capital," the analyst stated. SunEdison and TerraForm will grow their combined cash available for distributions at a faster rate than their target of 15% over the next three years, helping SunEdison's stock rise, the analyst stated. He kept a $30 price target and Buy rating on SunEdison. WHAT'S NOTABLE: A number of solar energy companies that own solar projects could form Yieldcos, research firm Trefis wrote in a Forbes column last month. Like Canaccord's Baribeau, Trefis believes that Yieldcos provide their parent companies with a cheap source of funding. Yieldcos also distribute most of their cash through dividends, Trefis stated. The firm named First Solar (FSLR) and SunPower (SPWR) as companies that could launch their own Yieldcos. PRICE ACTION: In early afternoon trading, Terraform jumped 36% to $34 and SunEdison was down 1% to $22.76. Meanwhile, First Solar rose 1.4% to $62.29, SunPower climbed 2.7% to $38.71, JinkoSolar gained 2.8% to $26.75, and Canadian Solar (CSIQ) advanced 3% to $28.71.
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