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December 31, 2013
13:03 EDTIMMU, PSX, STSI, BRK.B, CAR, UNXL, BRK.A, HTZOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday as the Dow and S&P 500 appear set to cap off a winning year at record highs. If the midday levels hold into the close, the S&P will notch its best year since 1997 and the Dow will record its best performance since 1995. Many stock markets around the world were closed or had a short schedule today for the New Year's Eve holiday. In New York, equity markets have a full day, but bond markets will close early. ECONOMIC EVENTS: In the U.S., the S&P/Case-Shiller index of home prices in 20 cities rose 0.2% in October from the prior month and climbed 13.6% from a year ago. The Chicago purchasing managers' index for December came in below forecasts at 59.1, which was down from a prior reading of 63.0. The Consumer Confidence index for December beat expectations with a rise to 78.1. Stock markets in Japan, Korea, Germany and Italy, among several others, were closed for a market holiday, while stock markets in the U.K., Hong Kong, France and Spain held half days. COMPANY NEWS: Shares of Hertz (HTZ) advanced 8% near noon after the company last night disclosed that it was adopting a shareholder rights plan, also commonly referred to as a "poison pill." Following the company's announcement, CNBC's Scott Wapner reported that Dan Loeb's hedge fund Third Point has taken a new position in Hertz, but that Loeb's stake in the company is under 5% and he does not intend to take an activist role, according to sources. CNBC's David Faber added that another "well known" investor has also amassed a stake in the car rental company and plans to take an activist role. Shares of the primary car rental peer of Hertz, Avis Budget (CAR), were also up over 1% near midday. MAJOR MOVERS: Among the notable gainers was Immunomedics (IMMU), which rose 7% after being issued a U.S. patent for the company's antibody-drug conjugates. Also higher was Phillips 66 (PSX), which gained about 3% after agreeing to trade its flow improver business to Berkshire Hathaway (BRK.A, BRK.B) in exchange for shares of Phillips 66 common stock currently held by Berkshire. Among the noteworthy losers was Uni-Pixel (UNXL), which dropped 13% after the company's CEO, Reed Killion, resigned to pursue other interests. Also lower were shares of Star Scientific (STSI), which fell 7% after receiving a warning letter from the FDA regarding two consumer products, Anatabloc and CigRx, which are marketed by the company. INDEXES: Near midday, the Dow was up 56.71, or 0.34%, to 16,561.00, the Nasdaq was up 19.19, or 0.46%, to 4,173.39, and the S&P 500 was up 6.27, or 0.34%, to 1,847.34.
News For B;IMMU;UNXL;STSI From The Last 14 Days
Check below for free stories on B;IMMU;UNXL;STSI the last two weeks.
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April 14, 2014
14:02 EDTUNXLUni-Pixel names Robert Rusenko as COO
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08:36 EDTUNXLUni-Pixel appoints Jeff Hawthorne as CEO
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April 8, 2014
08:36 EDTIMMUImmunomedics reports SN-38 results demonstrate high therapeutic index
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April 7, 2014
11:04 EDTIMMUImmunomedics announces multiple partial responses with IMMU-132
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11:04 EDTIMMUImmunomedics reports results from three IMMU-130 phase I trials
Immunomedics reported the results from 3 Phase I trials with IMMU-130, the company's investigational anti-CEACAM5 antibody conjugated to the irinotecan-metabolite, SN-38. The antibody-drug conjugate was therapeutically active in all 3 trials, but a more frequent dosing schedule, with administrations of IMMU-130 once or twice-weekly for 2 weeks followed by a week off, was more active in patients with metastatic colorectal cancer than when administered every other week. Results from these Phase I studies were presented at the 2014 Annual Meeting of the American Association for Cancer Research in San Diego, CA, by a group of clinical investigators. In all three trials, measurement of SN-38 concentrations in the serum found much higher levels that were sustained longer than is typically found with irinotecan therapy, the parental drug of SN-38. However, most of the SN-38 remains bound to the antibody, keeping it in an inactive form to normal tissues while in circulation, which reduces toxicity, yet allowing for higher concentrations of activated SN-38 to be delivered to the tumor where it is released from the pH- sensitive linker. Neutropenia and manageable diarrhea were the main side effects. "These results suggest that IMMU-130 may have a high therapeutic index and can be administered in repeated cycles in advanced mCRC patients," commented CEO Cynthia Sullivan.
09:34 EDTSTSIActive equity options trading on open
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April 3, 2014
10:01 EDTUNXLUni-Pixel and Conductive Inkjet Technology agree to settle ongoing litigation
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