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Stock Market & Financial Investment News

News Breaks
August 12, 2014
12:37 EDTDNDN, ICPT, TRAK, NUAN, KATEOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday in a lackluster session marked by few major headlines. The market is drifting in a fairly narrow range, but the major averages have stayed mostly in negative ground through the early hours of the trading day. ECONOMIC EVENTS: In the U.S., the NFIB's small business confidence index rose 0.7% to 95.7 in July, though that was below the expectation for a 96.0 reading. The Job Openings and Labor Turnover Survey showed job openings rose 94K to 4.671M in June. In Germany, the ZEW Center's economic sentiment index fell to 8.6 in August from 27.1 in July, compared to the consensus forecast for a decrease to 17. COMPANY NEWS: Shares of accessory and clothing retailer Kate Spade (KATE) initially advanced in pre-market trading and were higher early in the session after the company reported second quarter adjusted earnings per share and sales that beat analysts' consensus forecast. However, the stock reversed and moved into negative territory during the company's associated conference call, during which it said it was "responsible to reevaluate the timeframe" to achieve its previously laid out targets for 2016, citing a longer than expected Kate Spade Saturday ramp-up, its revised 2014 margin rate outlook, and the company's limited visibility into 2016. Near noon, the stock was down nearly 20%. MAJOR MOVERS: Among the notable gainers was drug developer Intercept Pharmaceuticals (ICPT), which jumped 26% after data from a trial of its liver disease drug OCA showed improved safety as well as a statistical benefit in reversing liver fibrosis. Also higher was DealerTrack (TRAK), which rose 18% after the company reported higher than expected second quarter earnings and raised its 2014 EPS outlook. Among the noteworthy losers was Dendreon (DNDN), which dropped 36% after reporting its Q2 revenue in a regulatory filing and disclosing the company sees a "significant risk" that it will not be able to repay or refinance its 2016 Notes. The company also acknowledged it is currently considering alternatives to the repayment of the 2016 Notes, some of which could result in leaving its current stockholders "with little or no financial ownership of Dendreon." Also lower were shares of voice and language solutions provider Nuance (NUAN), which fell 10% after reporting on its third quarter results and providing fourth quarter guidance that missed analysts' consensus expectation. INDEXES: Near midday, the Dow was down 30.46, or 0.18%, to 16,539.52, the Nasdaq was down 15.02, or 0.34%, to 4,386.31, and the S&P 500 was down 4.50, or 0.23%, to 1,932.42.
News For ICPT;KATE;TRAK;DNDN;NUAN From The Last 14 Days
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April 24, 2015
14:17 EDTNUANNuance June and July calls active into Q2 and outlook
Nuance June 16, July 16 calls are active on total call volume of 21K contracts (5K puts). May call option implied volatility of 43, June is at 36, July is at 32, October is at 30; compared to its 26-week average of 33 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on May 7.
10:11 EDTNUANHigh option volume stocks
High option volume stocks: AERI UEC NUAN DSW CHU SVU PII ACTG GIMO JNPR
April 23, 2015
10:06 EDTKATEKate Spade May call activity attributed to takeover chatter
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05:44 EDTICPTIntercept FLINT trial data shows OCA treatment increases fibrosis resolution
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April 22, 2015
07:07 EDTICPTEuropean Association for the Study of the Liver to hold annual meeting
50th Annual Meeting of EASL will be held in Vienna, Austria on April 22-26.
April 20, 2015
08:18 EDTKATEMichael Kors downgraded to Neutral with $70 target at Mizuho
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April 17, 2015
10:00 EDTICPTOn The Fly: Analyst Initiation Summary
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05:53 EDTICPTIntercept initiated with a Buy, $465 target at UBS
UBS analyst Matthew Roden started shares of Intercept Pharmaceuticals with a Buy rating and $465 price target. Roden sees a favorable risk/reward ahead of the approval and commercial launch of the company's obeticholic acid, known as OCA, in primary biliary cirrhosis. Roden also thinks OCA's opportunity in nonalcoholic steatohepatitis is being undervalued at current share levels. Shares of Intercept closed yesterday up $2.53 to $274.44.
April 14, 2015
09:20 EDTKATEKate Spade's department store sales strong during Q1, says OTR Global
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April 13, 2015
08:24 EDTICPTDeutsche Bank pharmaceuticals analyst holds an analyst/industry conference call
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06:07 EDTICPTIntercept announces several presentations evaluating OCA
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