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May 23, 2014
16:15 EDTPTCT, ARUN, GME, ARO, HPQOn 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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October 7, 2015
04:59 EDTHPQStocks with implied volatility movement; WFT HPQ
Stocks with implied volatility movement; Weatherford (WFT) 81, Hewlett-Packard (HPQ) 36 according to iVolatility.
October 5, 2015
19:16 EDTGMEGameStop management to meet with SunTrust
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08:57 EDTPTCTOppenheimer reiterates $155 price target on PTC Therapeutics
Oppenheimer analyst Christopher Marai reiterates an Outperform rating and $155 price target on PTC Therapeutics (PTCT). The shares closed Friday at $30.02. The stock should be owned into the Phase 3 data for ataluren in patients with nonsense mutation Duchenne muscular dystrophy, Marai tells investors in a research note after spending the weekend in the UK speaking to industry participants. Patients enrolled in the trial are more progressed than prior trials and thus "very unlikely to show benefit, suggesting clinical activity," the analyst writes. Other companies developing treatments for Duchenne muscular dystrophy include BioMarin (BMRN) and Sarepta (SRPT).
October 4, 2015
14:39 EDTPTCTPTC presents Phase 2 data on RG7800 for spinal muscular atrophy
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October 1, 2015
11:15 EDTHPQAutonomy's Mike Lynch sues HP for $150M in damages, Reuters reports
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07:48 EDTHPQHP board approves separation
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September 30, 2015
15:39 EDTHPQHP announces transactions to retire up to $8.85B of debt securities
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10:49 EDTHPQWestern Digital surges on $3.78B investment from China's Unisplendour
Shares of Western Digital (WDC) surged in morning trading after the company said it Unisplendour will take a 15% stake in the U.S. data storage company. WHAT'S NEW: Western Digital and Unisplendour, a unit of China's Tsinghua Holdings, said they entered into a pact under which a Unis subsidiary will invest $3.78B in Western Digital, the companies said. Under the terms of the agreement, Unis will buy the shares at $92.50 each. Unisplendour will own 15% of Western Digital's outstanding shares after the purchase, and have the right to nominate one representative to Western Digital's board of directors, a right that terminates if Unis' ownership falls below 10%. Unis also agreed not to sell any of its Western Digital shares for five years. WHAT'S NOTABLE: In July, the Wall Street Journal reported that Tsinghua Unigroup, which is majority-owned Tsinghua Holdings, offered to buy Micron Technology (MU) for $23B. After several talks and meetings over the matter, Reuters reported on August 28 that Zhao Weiguo, chairman of Tsinghua Unigroup, met with Micron in an attempt to revive takeover talks, but a deal did not come to fruition. Tsinghua Holdings chairman Jinghong Xu said that his company was open to a partnership with Micron if an acquisition deal could not be reached, dealReporter said. Separately, in May, Hewlett-Packard (HPQ) announced that it would sell a 51% stake in its H3C business to Unisplendour for roughly $2.3B. PRICE ACTION: In morning trading, Western Digital shares are up 16.06% to $79.91. OTHERS TO WATCH: Micron, which reports quarterly earnings on Thursday, is up 5.25% to $15.10, HP is up 2.56% to $25.28, SanDisk (SNDK) is up 9.2% to $53.63, Intel (INTC) is up 3.56% to $30.28, and Seagate (STX) is up 5.5% to $44.10.
09:25 EDTHPQJefferies more positive on EMC, more negative on IBM
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08:04 EDTPTCTPTC Therapeutics submits European applicatoin for Translama
PTC Therapeutics announced that the European Medicines Agency has validated the submission of a variation for a new indication for Translarna for the treatment of nonsense mutation cystic fibrosis for patients not taking chronic inhaled aminoglycoside antibiotics. If approved, Translarna would be the first oral protein restoration treatment that targets the underlying cause of nmCF. Approximately 10% of cystic fibrosis patients have their disease as a result of a nonsense mutation, which can cause the most severe form of cystic fibrosis. Translarna received marketing authorization in the European Economic Area in July 2014 for the treatment of nonsense mutation Duchenne muscular dystrophy (nmDMD) in ambulatory patients aged five years and older. The regulatory application for Translarna for nmCF is based on previously announced analyses from the company's prior completed Phase 3 double-blind, placebo-controlled study comparing Translarna to placebo in nmCF patients. PTC is conducting an additional randomized, double-blind, placebo-controlled Phase 3 study of Translarna in nmCF patients and expects enrollment to be completed by the end of this year, with top-line data expected by the end of 2016.
September 29, 2015
19:24 EDTAROAeropostale says considering reverse stock split to meet listing requirement
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16:09 EDTAROAeropostale receives NYSE listing notice
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09:30 EDTGMEGameStop says plans to hire over 28,000 seasonal associates nationwide
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09:03 EDTHPQHP updates entry-level workstation
HP (HPQ) announced the HP Z240 Tower and Z240 SFF Workstations with next generation Intel (INTC) processors and HP Z Turbo Drive options, raising the bar for entry-level workstations, while providing the reliability of a workstation at the price point of a desktop PC. The Z240 is the latest update to the world's No. 1 ranked entry-level workstation, the HP Z230. As HP's most affordable workstation, the Z240 is ideal for customers in the video editing, MCAD/AEC, education, public sector and image viewing industries.
September 28, 2015
16:10 EDTHPQHP initiated with a Neutral at Sterne Agee CRT
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September 25, 2015
18:19 EDTHPQFormer HP Chairman Ray Lane tried to stop Autonomy acquisition, WSJ says
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12:38 EDTPTCTOptions with increasing implied volatility
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09:04 EDTHPQHP management to meet with JPMorgan
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September 24, 2015
11:08 EDTPTCTOptions with increasing implied volatility
Options with increasing implied volatility: PTCT CZR KITE HZNP NAV CREE VRX PNK
09:36 EDTHPQGabelli continues to believe Stratasys is a strategic fit for Hewlett-Packard
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