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Stock Market & Financial Investment News

News Breaks
January 2, 2013
16:24 EDTX, JNJ, HPQ, SKUL, CAR, MRK, DOLE, ZIP, UNHOn The Fly: Closing Wrap
Stocks on Wall Street were significantly higher after U.S. lawmakers agreed on a deal to prevent falling off the fiscal cliff late last night. Several issues, including the debt ceiling, were pushed off by the agreement, but the stop-gap measure provided investors with enough temporary stability to send the market sharply higher at the open. The averages did not move far from their early levels and closed at the highs of the session... ECONOMIC EVENTS: In the U.S., Markit's final reading for December's purchasing managers' index came in at 54.0, which was up from 52.8 a month ago and beat expectations for a downward revision to 53.6. The ISM's December manufacturing PMI had a reading of 50.7, versus the expected 50.5, while the prices paid index came in at 55.5, versus the expected 50.8. A separate report showed construction spending fell 0.3% in November, versus an expected increase of 0.6%... COMPANY NEWS: Every member of the Dow Jones Industrial Average gained on the session, though UnitedHealth (UNH) rose only 30c, or 0.55%, to $54.54 and fellow healthcare companies Merck (MRK) and Johnson & Johnson (JNJ) were the average's other laggards. Shares of Hewlett-Packard (HPQ) lead the index, gaining 77c, or 5.4%, to $15.02... MAJOR MOVERS: Among the notable gainers was Zipcar (ZIP), which rose $3.94, or 47.82%, to $12.18 following its agreement to be acquired for $12.25 per share in cash by Avis Budget (CAR). Avis shares also gained 95c, or 4.79%, to $20.77. Also higher were shares of U.S. Steel (X), up $2.04, or 8.55%, to $25.89 after an upgrade to Outperform and a price target raise to $30 from $20 per share at Credit Suisse. Among noteworthy losers were shares of Dole Food (DOLE), which fell $1.54, or 13.43%, to $9.93 after the company said its fresh fruit business continues to experience declining earnings. Also lower was Skullcandy (SKUL), down 99c, or 12.71%, to $6.80 after Jefferies downgraded the stock two notches, to Underperform from Buy... INDICES: The Dow was up 308.41, or 2.35%, to 13,412.55; the Nasdaq was up 92.75, or 3.07%, to 3,112.26; and the S&P 500 was up 36.23, or 2.54%, to 1,462.42.
News For HPQ;UNH;MRK;JNJ;ZIP;CAR;X;DOLE;SKUL From The Last 14 Days
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April 10, 2015
05:49 EDTHPQStocks with implied volatility movement; HP POT
Stocks with implied volatility movement; HP (HPQ) 23, Potash (POT) 25 according to iVolatility.
April 9, 2015
18:11 EDTHPQWorldwide PC shipments decline 6.7% in Q1, IDC says
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14:04 EDTCARAvis Budget completes acquisition of Maggiore Group
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11:04 EDTHPQHP introduces new portfolio of PageWide XL Printers
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09:25 EDTJNJ, MRKPiper Jaffray pharmaceuticals analysts hold an analyst/industry conference call
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09:21 EDTUNHCatamaran said to be likley to keep Cigna contract, CT Financial News reports
Brain Tanquilut, senior VP, Healthcare Services Equity Research at Jefferies, believes there is "precedent out there that suggests Catamaran’s (CTRX) contract with Cigna (CI) "is safe” despite UnitedHealth's (UNH) recent deal to buy the pharmacy benefits manager, according to CT Financial News. Reference Link
07:29 EDTUNHUnitedHealth April volatility elevated into Q1 and outlook
UnitedHealth April call option implied volatility is at 34, May is at 25, June is at 21; compared to its 26-week average of 22 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on April 16.
05:59 EDTHPQStocks with implied volatility below IV index mean; HPQ ACN
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April 8, 2015
09:23 EDTJNJJohnson & Johnson April volatility elevated into Q1 and outlook
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07:33 EDTMRKAdvaxis, Merck begin enrollment in Phase 1/2 of ADJX-PSA with Keytruda
Advaxis (ADXS) and Merck (MRK) announced that enrollment has initiated in the Phase 1/2 clinical trial evaluating the combination of ADXS-PSA, an investigational Lm-LLO immunotherapy, and Keytruda, the first anti-PD-1 therapy approved in the United States, in patients with previously treated, metastatic castration-resistant prostate cancer, or mCRPC. The clinical trial, KEYNOTE-046, is the first-in-human study of Advaxis's lead Lm-LLO immunotherapy candidate for prostate cancer. It is the second study initiated to evaluate the use of KEYTRUDA in the treatment of advanced prostate cancer. ADXS-PSA and KEYTRUDA are members of a class of cancer treatments known as immuno-oncology therapies. Data from preclinical studies suggest that Advaxis Lm-LLO immunotherapies in combination with a PD-1 antibody may lead to an enhanced anti-tumor immune response. The results from KEYNOTE-046 will determine the future clinical development program for the combination.
07:24 EDTJNJNeurotechnology Industry Organization to hold a conference
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07:04 EDTMRKMerck's investigational Hep C therapy granted breakthrough therapy designations
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April 7, 2015
16:55 EDTHPQXerox upgraded to Buy ahead of Q1 results at Citigroup
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10:23 EDTUNHMedicare Advantage 2016 rates set above expectations
The U.S. yesterday announced higher than expected 2016 Medicare Advantage reimbursement rates. The news is seen as benefiting managed care companies with large exposure to the Medicare Advantage program. WHAT'S NEW: The Centers for Medicare and Medicaid Services, or CMS, yesterday afternoon announced that Medicare Advantage reimbursement rates would rise 1.25% in 2016 from 2015 levels. In February, CMS proposed a 0.95% reduction in Medicare Advantage reimbursement rates for 2016. This year, reimbursement rates have fallen 4%. WHAT'S NOTABLE: Humana (HUM) said this morning in a regulatory filing that based on its review of the Final Rate Notice, the company expects an average Medicare Advantage funding increase for its business of approximately 0.8% from CMS for 2016, versus a funding decline of 1.25%-1.75% previously expected based on the Advance Notice. Humana’s estimated year-over-year funding increase as it affects the company is projected to be less than the CMS estimate for the MA program primarily due to Humana’s view of the projected impact associated with CMS’ 2016 adjustment to the risk model calculation, the company explained. ANALYST REACTION: In a note to investors earlier today, Deutsche Bank analyst Scott Fidel wrote that this is the first time in seven years that CMS has implemented an increase in Medicare Advantage rates. However, noting that CMS said it had raised its estimates for Medicare costs, Fidel added that this forecast tempered the positive outlook created by the reimbursement increase. The analyst kept Buy ratings on the following stocks in the sector: Aetna (AET), Anthem (ANTM), Cigna (CI), Magellan Health (MGLN), and UnitedHealth (UNH). Stifel analysts said that the results were modestly better than expected, except for the agency's decision not to make a Star rating adjustment for plans with certain higher acuity populations. The firm thinks that more diversified managed care companies with Medicare Advantage products could be boosted by CMS' decision, identifying Aetna, Humana, and UnitedHealth as being among the companies in that category. PRICE ACTION: In early trading, Aetna was little changed at $107.40, Anthem was flat near $155 per share, Cigna slipped 0.4% to $131.34, Magellan was flat at $71, UnitedHealth added 0.5% to $118.31 and Humana gained fractionally to $178.54.
07:57 EDTUNHManaged care companies likely to rise on CMS news, says Oppenheimer
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07:52 EDTHPQHP, Microsoft partnering on solutions for auto, financial services industries
HP (HPQ) announced it is partnering with Microsoft (MSFT) to deliver solutions for the automotive, public sector and financial services industries to help organizations deliver differentiated products and create new revenue through mobile, web and social channels. HP and Microsoft are building a portfolio of business process accelerators and are delivering them as Business Process as-a-Service solutions, HP stated. HP Business Process as-a-Service solutions for Microsoft Dynamics services are available immediately worldwide. Reference Link
07:44 EDTUNHSome managed care stocks could be boosted by CMS decision, says Stifel
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07:41 EDTUNH2016 MA rates positive for first time in seven years, says Deutsche Bank
Deutsche Bank notes that for the first time since 2009, Medicare Advantage rates will be positive after the Centers for Medicare and Medicaid Services announced yesterday that final 2016 rates will rise by 1.25%, representing a 220 basis points favorable swing from the preliminary proposed cut of 0.95%. Deutsche says the positive surprise is "somewhat tempered" by the more cautious view on Medicare cost trends provided by the CMS actuaries in the final 2016 rate announcement. The firm expects Humana (HUM), Health Net (HNT) and UnitedHealth (UNH), Aetna (AET) and Anthem (ANTM) to experience Medicare Advantage rate increases.
07:14 EDTMRKEyeforpharma to hold a summit
Philadelphia 2015 Commercial Pharma Summit is being held in Philadelphia on April 7-8.
05:48 EDTUNHCatamaran downgraded to Hold from Buy at Jefferies
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