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May 23, 2014
16:15 EDTARO, HPQ, PTCT, ARUN, GMEOn The Fly: Closing Wrap
Stocks on Wall Street opened in quiet fashion, though with an upward bias, and proceeded to trade that way throughout the session. The averages drifted higher in a broad based move that saw each of the major averages tack on gains of at least 0.3%. The volume was light, as was to be expected prior to a holiday weekend, and there was little volatility as the market moved in a narrow range once it found its level. Ending the week on a high note, the benchmark S&P 500 managed to close above 1,900 for the first time. ECONOMIC EVENTS: In the U.S., new home sales rose 6.4% in April to a rate of 433K. The percentage increase trailed expectations, but the rate was higher than expected due to upward revisions to last months figures. COMPANY NEWS: Shares of Hewlett-Packard (HPQ) rose $2.00, or 6.1%, to $33.72 after the computer and printer making giant reported second quarter adjusted earnings per share that matched estimates and announced additional job cuts. Following the report, Citigroup said it sees "meaningful upside" to the stock and believes HP's cost savings are underappreciated. After HP's report of roughly in-line results and more layoffs, Wells Fargo noted that HP said it was more confident in its growth outlook. The firm thinks the layoffs may reflect newly discovered cost cutting opportunities, rather than end market pressures, and kept an Outperform rating on the shares. MAJOR MOVERS: Among the notable gainers was PTC Therapeutics (PTCT), which surged $4.71, or 30.74%, to $20.03 after the Committee for Medicinal Products for Human Use of the European Medicines Agency adopted a positive opinion regarding the company's application for a conditional marketing authorization of Translarna for the treatment of nonsense mutation Duchenne muscular dystrophy. Also higher was video game retailer GameStop (GME), which rose $1.55, or 4.2%, to $38.43 after the company reported better than expected first quarter profits and backed its fiscal 2014 guidance. Among the noteworthy losers following their earnings reports were apparel retailer Aeropostale (ARO), which fell $1.09, or 24.12%, to $3.43, and network solutions provider Aruba Networks (ARUN), which slid $2.17, or 10.82%, to $17.89. INDEXES: The Dow was up 63.19, or 0.38%, to 16,606.27, the Nasdaq was up 31.47, or 0.76%, to 4,185.81, and the S&P 500 was up 8.04, or 0.42%, to 1,900.53.
News For HPQ;GME;PTCT;ARO;ARUN From The Last 14 Days
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May 5, 2015
06:27 EDTPTCTPTC Therapeutics downgraded to Neutral from Buy at Roth Capital
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May 4, 2015
16:23 EDTPTCTPTC Therapeutics says Translarna launch preparations underway in U.S.
PTC's lead product, Translarna, received marketing authorization in the EU in August 2014 for the treatment of nonsense mutation Duchene muscular dystrophy. As of April 30, PTC has 82 DMD patients on commercial therapy through either reimbursed early access programs or commercial sales. The U.S. commercial launch preparations are underway. In December 2014, PTC began submitting a rolling New Drug Application to the FDA for the approval of Translarna in nonsense mutation DMD. Top-line data from the company's ongoing Phase 3 ACT DMD trial is expected in the fourth quarter of this year which should form the basis for finalizing the NDA submission. Concurrently, PTC has begun building out its US commercial team and infrastructure in preparation for a potential US launch in the first half of 2016. Most recently, PTC announced the hiring of Eric Pauwels as head of commercial operations in the Americas. PTC initiated its global confirmatory Phase 3 ACT CF trial in nonsense mutation cystic fibrosis patients in June 2014. The trial is being conducted at approximately 90 clinical sites globally and is expected to enroll approximately 208 patients by the end of 2015. PTC intends to file for approval of Translarna for the treatment of nonsense mutation cystic fibrosis in the EU in the second half of 2015.
16:21 EDTPTCTPTC Therapeutics reports Q1 EPS ($1.15), consensus ($1.20)
Reports Q1 revenue $7.48M, consensus $2.97M. Cash, cash equivalents, and marketable securities totaled $280.5M at March 31, compared to $315.2M at December 31, 2014.
May 1, 2015
17:21 EDTARUN, HPQAruba Networks discloses clearances for proposed merger with Hewlett-Packard
In a regulatory filing, the company disclosed that on April 28, the Federal Cartel Office cleared the Merger under the Act against Restraints of Competition in Germany. On April 29, the Federal Competition Authority and the Federal Cartel Prosecutor cleared the Merger under the Austrian Cartel Act. These clearances satisfy two of the conditions to the closing of the pending Merger, which remains subject to other regulatory approvals and customary closing conditions. The Merger is expected to close in the second quarter of calendar year 2015.
April 29, 2015
09:39 EDTPTCTHouse Financial Services Committee to hold a hearing
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April 28, 2015
08:03 EDTPTCTPTC Therapeutics announces program targeting BMI1 enters Phase 1 study
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April 27, 2015
11:21 EDTHPQOpco defends 3D Systems, while UBS, Piper Jaffray say sell
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07:13 EDTHPQUBM Tech to hold a conference
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April 24, 2015
18:23 EDTHPQHP awarded $469M government contract
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April 23, 2015
16:17 EDTAROAeropostale announces changes to board
Aťropostale announced future changes to the composition of its board. Robert Chavez has advised the company that he will not seek re-election to the company's board at the 2015 Annual Stockholder Meeting due to his responsibilities and time commitments as president and CEO of Hermes of Paris. Chavez will continue to serve until the 2015 Annual Meeting. Stefan Kaluzny has also advised the company that he will not seek re-election as a Director at the 2015 Annual Stockholder Meeting. Kaluzny, a Managing Director of Sycamore Partners, has served as a designated Series B Director since May 2014. He will also continue to serve until the 2015 Annual Meeting.
11:31 EDTHPQOptions with increasing implied volatility
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10:26 EDTGMEGameStop management to meet with BB&T
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09:18 EDTPTCTOn The Fly: Pre-market Movers
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07:51 EDTPTCTPTC Therapeutics price target raised to $155 from $135 at Oppenheimer
Oppenheimer increased its price target on PTC after the company, along with Roche (RHHBY), presented data on its RG7800 drug that the firm believes showed proof-of-mechanism in health subjects. The firm recommends owning PTC ahead of two events: the scheduled October 2015 P3 read-out of Translarna in DMD, and an update on the MOONFISH trial of RG7800 slated to occur in early 2016. The firm keeps an Outperform rating on the shares.
April 22, 2015
13:39 EDTHPQAnalyst warns competition growing in 3D printing space
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11:08 EDTHPQOptions with increasing implied volatility
Options with increasing implied volatility: CZR FMSA PSEC CSX AEO CRM BBY SPLS HPQ DTV
April 21, 2015
11:16 EDTHPQOptions with increasing implied volatility
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09:37 EDTHPQHP sells Snapfish to District Photo ahead of seperation
HP announced a definitive agreement to divest Snapfish, its photo storage and merchandising business. District Photo will acquire the Snapfish business, including technology assets and employees. After the transaction closes, HP will maintain a partnership with Snapfish. Snapfish will continue to use HP printing solutions, and HP will provide the HP Connected Photo application developed by Snapfish on HP consumer PCs, including the Sprout computing platform, the company said. HP expects the transaction to close in the second half of FY15. Financial terms of the deal were not disclosed. It added, "The divestiture is consistent with HPís strategy to focus the organization following HPís previously announced separation."
08:04 EDTHPQHP, FireEye announce partnership
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05:56 EDTHPQStocks with implied volatility movement; CNX HPQ
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