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Stock Market & Financial Investment News

News Breaks
February 1, 2013
06:20 EDTINFI, ARIA, GILDGilead seeks more blood cancer drug deals, Bloomberg reports
Gilead Sciences (GILD) has spent $1.2B in two years to buy blood cancer drugs, and wants more, reports Bloomberg. Treatment for leukemia and other blood cancers is one of the fastest growing markets for cancer drugs. Gilead COO John Milligan said the company is eyeing possible new deals. They could include Ariad Pharmaceuticals (ARIA) and Infinity Pharmaceuticals (INFI), said Raghuram Selvaraju, at Aegis Capital Corp. Reference Link
News For GILD;ARIA;INFI From The Last 14 Days
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September 2, 2015
10:00 EDTARIABaxalta abandons takeover talks with ARIAD, Bloomberg reports
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09:36 EDTARIA, GILDActive equity options trading on open
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09:32 EDTARIAARIAD sinks after Bloomberg says Baxalta buyout talks ended
Shares of ARIAD (ARIA) are dropping after Bloomberg reported that takeover negotiations with Baxalta (BXLT) broke down over price. The companies currently have no plans to resume negotiations, sources told Bloomberg. Last week, people familiar with the matter told the news agency that Baxalta had been discussing an acquisition of ARIAD that would have valued the oncology company focused on leukemia and lung-cancer treatments at close to $2B. Shares of ARIAD are down 20%, or $1.81, to $7.28 in early trading.
09:26 EDTARIAARIAD drops 23% to $6.98 after Bloomberg says Baxalta abandons takeover talks
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09:25 EDTARIABaxalta takeover talks with ARIAD break down over price, Bloomberg reports
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08:33 EDTGILDGilead says investigation of F/TAF-based regimens met primary 48-week objective
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September 1, 2015
10:24 EDTARIAOptions with increasing implied volatility: PTCT ARIA MTG
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August 31, 2015
11:32 EDTARIAOptions with increasing implied volatility: PTCT ARIA
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August 28, 2015
16:29 EDTARIAStocks end volatile week higher as China whipsaws U.S. market
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16:17 EDTARIAOn The Fly: Top stock stories for Friday
Stocks slipped at the open as the futures once again were influenced by the volatile overnight trading session in China. The averages began to recover shortly after the open and turned mixed by midday. Comments from Fed Vice Chairman Stanley Fisher about the central bank being open to a possible rate hike in September took some momentum out of the market. As the volume slowed and the news flow went silent, the volatility increased and the averages headed lower only to rebound before the close, but the trading was still remarkably calm when compared to the wide swings seen in the market in the earlier sessions of this week. ECONOMIC EVENTS: In the U.S., personal income rose 0.4% in July, as expected, with consumer spending up 0.3%, which was below the 0.4% consensus growth forecast. The University of Michigan consumer sentiment reading for August was revised down to 91.9 from the 92.9 preliminary reading, versus expectations for it to be bumped up to 93.0. Baker Hughes reported the U.S. rig count is down 8 rigs from last week to 877. WTI crude oil prices added another 6% today to yesterday's 10% rally, closing at $45.22 a barrel on Friday. U.S. crude closed with a weekly gain of 11.8%, marking its first advance in 10 weeks and best week in six years. The Federal Reserve may still raise its benchmark interest rate in September, Fed vice chairman Stanley Fischer said in an interview with CNBC, noting that Fed committee members "haven't made a decision yet" and have "time to wait and see," because the next policy-making meeting won't happen until the middle of next month. COMPANY NEWS: Shares of cancer drug maker ARIAD (ARIA) surged $2.91, or 41.69%, to $9.89 after Bloomberg reported that industry peer Baxalta (BXLT) is in takeover talks with the smaller company to boost its oncology pipeline. Baxalta, which had recently turned down a merger offer from Shire (SHPG), fell $1.18, or 3.24%, to $35.25 following the report... In other pharmaceutical industry M&A news, Mylan (MYL) shareholders voted to approve the company's proposed acquisition of Perrigo (PRGO) and the related issuance of Mylan ordinary shares. Afterward, Perrigo CEO Joseph Papa said he was confident that most of his company's shareholders believe that Mylan's offer substantially undervalues Perrigo and would dilute its "growth profile and superior valuation"... Video game maker Activision Blizzard (ATVI) and airline owner United Continental (UAL) both advanced sharply, rising 4.62% and 6.93%, respectively, after each had their shares selected to join the S&P 500. Activision will replace Pall Corp. (PLL) in the S&P 500 after the close of trading tonight, while United will replace Hospira (HSP) in the index after the close of trading on Wednesday, September 2. MAJOR MOVERS: Among the notable gainers was Big Lots (BIG), which advanced $6.58, or 15.67%, to $48.58 after the discount retailer reported better than expected quarterly results and lifted its fiscal year guidance. Among the noteworthy losers after their quarterly reports were video game retailer GameStop (GME), which slid $3.71, or 8.03%, to $42.49, and design software and services company Autodesk (ADSK), which fell $2.48, or 4.96%, to $47.52. INDEXES: The Dow fell 11.76, or 0.07%, to 16,643.01, the Nasdaq gained 15.62, or 0.32%, to 4,828.33, and the S&P 500 advanced 1.21, or 0.06%, to 1,988.87.
15:05 EDTARIAARIAD rejected initial Baxalta offer about a month ago, CNBC reports
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14:40 EDTARIABaxalta in talks to acquire ARIAD, Bloomberg reports
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14:29 EDTARIABaxalta said to be in talks to buy ARIAD, Bloomberg reports
Bloomberg, which reported earlier today that Baxalta (BXLT) was in talks to buy a hematology-oncology drug maker, has now reported that Baxalta's takeover talks are with Ariad (ARIA). Ariad shares, which were up prior to the latest headlines, have spike even higher and are now up 36% in late afternoon trading.
13:43 EDTARIABlood cancer drug makers rise amid speculation of Baxalta talks
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13:04 EDTARIAARIAD ticking back up for potential retest of the high of the day
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12:36 EDTARIAARIAD jumps 15% after report on Baxalta pursuit of oncology drug maker
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August 27, 2015
10:19 EDTARIAOptions with decreasing implied volatility
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August 26, 2015
17:06 EDTGILDGilead AMBITION study results published in New England Journal of Medicine
Gilead Sciences (GILD) announced detailed results from the AMBITION study. In AMBITION, conducted in collaboration with GlaxoSmithKline (GSK), combination therapy with Letairis and tadalafil reduced the risk of clinical failure by 50% compared to the pooled Letairis and tadalafil monotherapy arm. These data were published in The New England Journal of Medicine. Letairis, a selective endothelin type-A receptor antagonist, and tadalafil, a PDE5 inhibitor, are each approved in the United States, the European Union and other countries as once-daily treatments for patients with pulmonary arterial hypertension with WHO/NYHA functional class II and III symptoms. Letairis is indicated in the U.S. to improve exercise ability and delay clinical worsening and in the EU under the tradename Volibris to improve exercise capacity. Tadalafil 40 mg is indicated in the U.S. and the EU to improve exercise ability and capacity, respectively. Preclinical data have suggested these therapies may have synergistic effects. However, combination use with Letairis and tadalafil is currently not approved.
August 25, 2015
19:34 EDTGILDExperts tell White House to expand use of Hepatitis C drugs, NYT says
Health care experts from the Public Health Service and the Advisory Council on H.I.V./AIDS have recommended that Medicaid officials expand the use of costly Hepatitis C drugs including AbbVie's (ABBV) Viekira Pak and Gilead's (GILD) Sovaldi and Harvoni, reports the New York Times, citing correspondence sent to the White House. The advisory council said current usage limitations on the drugs are "unreasonable," but it also suggested that manufacturers disclose drug development costs in the face of the significant price tags on modern Hepatitis C treatments. Reference Link
August 24, 2015
13:36 EDTGILDBiotech correction presents some opportunities, says RBC Capital
RBC Capital analyst Michael Yee said he won't try to pick the short-term bottom in biotech, but contends that any macro weakness in China shouldn't have any major impact to financials or fundamentals for the sector given their minimal exposure there. If the market continues to be volatile, Yee recommends a focus on names with defensive characteristics, such as higher margins and free cash flow yield, naming Amgen (AMGN), Celgene (CELG) and Gilead (GILD) as some examples. The analyst adds that he likes Vertex (VRTX) on the pullback for "more aggressive" growth investors. Yee has Outperform ratings on all of the stocks mentioned above.
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