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Stock Market & Financial Investment News

News Breaks
April 9, 2014
11:43 EDTGILD, ESRX, MRK, ABBV, BMY, ABTGilead defended by analysts after recent pullback
Shares of pharmaceutical company Gilead (GILD) are climbing after two research firms were upbeat about the stock's outlook in separate notes to investors earlier today. WHAT'S NEW: Gilead's stock is positioned to rise sharply ahead of the company's first quarter results on April 22, Robert W. Baird analyst Brian Skorney wrote. Sales of the company's Hepatitis C, or HCV drug, Sovaldi, should beat expectations, and the company's Q1 profit should be strong, the analyst believes. Moreover, despite worries over the pricing of Sovaldi, the analyst predicted that Gilead would ultimately only have to make minor concessions on pricing for the drug. He kept a $103 price target and Outperform rating on Gilead. Meanwhile, research firm Maxim Group focused on statements by pharmacy benefit manager Express Scripts (ESRX) about Sovaldi. According to a Bloomberg report published yesterday, Express Scripts' Chief Medical Officer said the company would ask its clients to stop using Sovaldi when a competing drug is approved in the U.S. The new drug is expected to be approved next year, Bloomberg reported. But Sovaldi is not the most expensive HCV drug, Maxim contended. Moreover, after factoring in the lower effectiveness of other drugs compared with Sovaldi, Gilead's drug provides "compelling" value, the firm contended. Express Scripts' comments are "noise," added Maxim, which kept a $101 price target and Buy rating on the stock. WHAT'S NOTABLE: Other companies that are developing HCV drugs include AbbVie (ABBV) Bristol-Myers Squibb (BMY), Abbott (ABT), and Merck (MRK). PRICE ACTION: In late morning trading, Gilead gained 1% to $70.50. The stock dropped significantly yesterday, and has fallen over 11% in the past month.
News For GILD;ESRX;MRK;ABBV;BMY;ABT From The Last 14 Days
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July 18, 2014
05:12 EDTABBVAbbVie to acquire Shire for 52.48 pounds per share in cash, stock
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July 17, 2014
12:56 EDTABBVAbbVie set to announce GBP 31B deal to buy Shire, FT says
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12:54 EDTABBVAbbVie set to announce GBP 31B deal to buy Shire, FT says
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08:08 EDTBMYBristol-Myers, Pfizer announce enrollment in Phase IV EMANATE trial for Eliquis
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07:06 EDTABTAbbott price target raised to $47 from $42 at Stifel
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05:53 EDTABBVStocks with implied volatility movement; HLF ABBV
Stocks with implied volatility movement; Herbalife (HLF) 52, AbbVie (ABBV) 30 according to iVolatility.
July 16, 2014
11:57 EDTGILDStocks with call strike movement; GILD YHOO
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10:36 EDTABTTreasury calls on Congress to halt inversion deals
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09:25 EDTABTAbbott expects Global Nutrition sales to return to double digit growth in 2H14
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09:23 EDTABTOn The Fly: Pre-market Movers
HIGHER: Time Warner (TWX), up 15% after company confirmed that it rejected an $80B takeover offer from 21st Century Fox (FOX, FOXA), as had been reported earlier this morning... Apple (AAPL), up 2% after announcing an enterprise mobile partnership with IBM (IBM), which is also up 2%... International Game (IGT), up 9.5% after agreeing to be acquired by GTECH for $4.7B in cash and stock... FireEye (FEYE), up 5% after shares upgraded at Goldman... Precision Drilling (PDS), up 4% after announcing strategic agreement with Schlumberger (SLB), upgraded at Deutsche Bank... Mellanox (MLNX), up 4.7% following upgrade at Jefferies. UP AFTER EARNINGS: Intel (INTC), up 5.4%... HCA Holdings (HCA), up 6%... Textron (TXT), up 3.2%... Abbott (ABT), up 1%. DOWN AFTER EARNINGS: PNC Financial (PNC), down 2.5%... MGIC Investment (MTG), down 3.6%. LOWER: Yahoo (YHOO), down 3% after downgraded at CRT Capital following second quarter earnings report... Ares Capital (ARCC), down 2.5% after filing to sell 11.85M shares of common stock... Nationstar (NSM), down 2.4% after downgraded at Wells Fargo... Walter Investment (WAC), which was also downgraded at Wells Fargo, down 1.6%.
09:17 EDTABTAbbott sees Q3 ongoing EPS 59c-61c, consensus 60c
Sees Q3 revenue growth in mid-single digits, consensus $5.63B. Expects neutral impact from foreign exchange.
09:16 EDTABTAbbott sees FY14 revenue growth in mid single digits, consensus $22.42B
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09:03 EDTABTSanofi held talks on mature drugs with Abbott, Mylan, PE firms, Reuters says
Sanofi (SNY) has shopped an $8.5B portfolio of mature drugs to Abbott (ABT), Mylan (MYL) and private equity firms, according to Reuters, citing an internal company document circulated by the CGT union. Sanofi is considering whether to sell, carve out or create a joint venture for the portfolio of about 200 drugs, but a Sanofi spokesman said no decision has yet been made, the report noted. Reference Link
08:16 EDTABTLew's letter could bring 'chilly' tax inversion environment, says BMO Capital
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07:59 EDTABT, ABBVTreasury Secretary urges Congress to take action on tax inversions
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07:49 EDTABTAbbott reports Q2 Nutrition sales $1.73B; Reports Q2 Diagnostics sales $1.19B
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07:47 EDTABTAbbott says it's on track for sales growth acceleration in 2H14
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07:46 EDTABTAbbott raises FY14 ongoing EPS to $2.19-$2.29 from $2.16-$2.26, consensus $2.19
07:46 EDTABTAbbott reports Q2 ongoing EPS 54c, consenus 51c
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06:26 EDTBMY, MRKBristol-Myers lung cancer trials being underestimated, says Citigroup
After building a statistical model of Bristol-Myers' two critical registration trials for Opdivo in lung cancer, Citigroup believes the market is "materially" underestimating both Phase III trials. Citi says potential Opdivo FDA approval in 2015 in lung cancer would give Bristol-Myers an up to two year lead time versus Merck (MRK) and Roche (RHHBY). The firm estimates 2023 Opdivo revenue at $7B and reiterates a Buy rating on Bristol with a $60 price target.
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