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Stock Market & Financial Investment News

News Breaks
June 9, 2014
09:22 EDTIDIX, AZN, CGIX, ALNY, NSR, TSN, HSH, ADI, HITT, DG, FDO, MRK, ACHN, ODPOn The Fly: Pre-market Movers
HIGHER: Idenix (IDIX), up more than 230% after Merck (MRK) acquires the company for $24.50 per share in cash of $3.85B. Idenix peer Achillion (ACHN) is up 35% after Merck's purchase... Hittite Microwave (HITT), up 29% after Analog Devices (ADI) agrees to acquire the company for $78 per share in cash... Family Dollar (FDO), up 11.6% following upgrade at Jefferies after Carl Icahn reported a 9.4% stake in the company. Dollar General (DG), which is being seen as potentially urged as a merger target for Family Dollar based on Icahn's stake, is up 8.6% after the news... Hillshire Brands (HSH), up 4.7% after Tyson Foods (TSN) submits unilaterally binding offer to acquire the company for $8.55B... Office Depot (ODP), up 4.6% after Barron's says shares could jump over 50%... Cancer Genetics (CGIX), up 6.4% after announcing partnership with AstraZeneca (AZN). LOWER: NeuStar (NSR), down 6.3% after calling FCC posting of confidential email "troubling"... Alnylam (ALNY), down 5.8% after presenting ALN-CC5 new pre-clinical data.
News For IDIX;ACHN;MRK;FDO;DG;HITT;ADI;HSH;TSN;NSR;ALNY;CGIX;AZN;ODP From The Last 14 Days
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August 18, 2014
09:03 EDTFDO, ACHN, DGOn The Fly: Pre-market Movers
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08:47 EDTFDO, DGDollar General says would slow store opening growth in Family Dollar deal
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08:35 EDTDG, FDODollar General says emphasis is getting deal 'put to bed'
Says when deal gets done, "Family Dollar (FDO) will look exactly like Dollar General inside." Says is a "huge fan" of Todd Vasos, who would lead the integration, but does not comment on whether Vasos will succeed Dollar General (DG) CEO Rick Dreiling, who will retire in May 2016. Doesn't see antitrust issues as "insurmountable."
08:23 EDTFDO, DGDollar General says has expressed interest in Family Dollar 'multiple times'
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08:18 EDTFDO, DGDollar General says can mange Family Dollar 'more efficiently and effectively'
Dollar General (DG) says it believes its proposal "far superior" for Family Dollar (FDO) shareholders. Believes company can manage Family Dollar "more efficiently and effectively." Sees approximately $300M-$400M in one-time costs to capture synergies. Sees investment of $400M in CapEx. Says proposed deal would be low double digit percentage accretive in year one, ex-integration and transformation costs. Dollar General notes commitment to return to investment grade credit profile, anticipated three years post closing. Says positioned for long term revenue and earnings growth. Says ready to move to complete due diligence on Family Dollar deal. Says synergies expected to ramp up throughout three-year period. Comments made on Dollar General's conference call discussing its acquisition proposal of Family Dollar for $78.50 per share.
07:57 EDTAZN, MRKCambridge Healthtech Institute to hold a summit
6th Annual Bioprocessing Summit to be held in Boston on August 18-22.
07:28 EDTACHNAchillion upgraded to Buy from Hold at Deutsche Bank
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06:27 EDTFDO, DGDollar General to host conference call
Conference call to discuss acquisition proposal of Family Dollar will be held on August 18 at 8 am. Webcast Link
06:24 EDTDG, FDOOptions expected to be active
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06:13 EDTDG, FDODollar General makes proposal to acquire Family Dollar for $78.50 per share
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06:10 EDTDG, FDODollar General makes proposal to acquire Family Dollar for $78.50 per share
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06:03 EDTFDO, DGDollar General makes $78.50/share offer for Family Dollar, CNBC reports
Dollar General (DG) will announce today a $78.50 per share in cash offer to acquire Family Dollar (FDO), CNBC's Andrew Ross Sorkin reports. Dollar Tree (DLTR) is seeking to buy Family Dollar for $74.50 per share.
06:00 EDTFDO, DGDollar General offers to buy Family Dollar for $78.50/share, CNBC reports
August 15, 2014
16:38 EDTACHNOn The Fly: Closing Wrap
Stocks on Wall Street began the session in positive territory despite some soft economic data points, including a weaker than expected report on manufacturing in the New York area and a lower than expected consumer confidence reading. The market short circuited following reports of a skirmish in the Ukraine where a Russian convoy was supposedly fired upon when it crossed the border. The averages quickly dropped and were only able to partially recover, as investors moved to the sidelines to avoid additional geopolitical risk over the weekend. ECONOMIC EVENTS: The NY Fed's Empire manufacturing survey had a reading of 14.69, versus expectations for a 20.0 reading. The Producer Price Index increased 0.1% overall, matching expectations. The core reading was up 0.2%, which was also in-line with the consensus forecast. Industrial production increased 0.4% in July, beating the consensus 0.2% growth forecast. That nudged up capacity utilization to 79.2%, versus 79.1% previously. The first University of Michigan consumer confidence reading for August fell 2.6 points to 79.2, versus expectations for it to have edged up to 82.0. Treasury international capital data showed foreigners dumped $153.5B in total U.S. assets in July after buying a revised $33.1B in June. COMPANY NEWS: Shares of Monster Beverage (MNST) surged $21.84, or 30.48%, to $93.49 after Coca-Cola (KO) bought a stake in the energy drink maker and the companies announced a long-term strategic partnership and asset swap. Coca-Cola will pay $2.15B for a 16.7% stake in Monster, the companies announced last night. Under the terms of their agreement, Coca-Cola will add two directors to Monster's board. Coke will transfer ownership of its worldwide energy business including brands like NOS, Full Throttle, Burn, Mother, Play and Power Play, and Relentless to Monster, in trade for which Monster will transfer its non-energy business to Coke. MAJOR MOVERS: Among the notable gainers was Achillion Pharmaceuticals (ACHN), which rose 81c, or 9.6%, to $9.25 after the company announced interim results from an ongoing Phase 2 proxy study of a potential chronic hepatitis C virus regimen that analysts at Piper Jaffray called "impressive." Also higher was Paylocity (PCTY), which advanced $2.17, or 9.79%, to $24.34 after reporting better than expected fourth quarter revenue and guiding to higher than expected sales in its first quarter. Among the noteworthy losers was retailer J.C. Penney (JCP), which fell 24c, or 2.46%, to $9.50 despite posting a narrower than expected loss for the second quarter. Also lower were shares of another department store owner, Dillard's (DDS), which dropped $9.49, or 8.21%, to $106.11 after reporting quarterly results that missed expectations. INDEXES: The Dow dropped 50.67, or 0.3%, to 16,662.91, the Nasdaq gained 11.92, or 0.27%, to 4,464.93, and the S&P 500 slipped 0.12, or 0.01%, to 1,955.06.
12:39 EDTACHNOn The Fly: Midday Wrap
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10:03 EDTACHNAchillion ACH-3102 data results 'impressive,' says Piper Jaffray
Piper Jaffray calls this morning's data for Achillion's ACH-3102 "impressive," saying the numbers validate the potential for combining ACH-3102 with a nuc. Piper still believes a potential acquirer could show interest in Achillion this fall given the relative near-term data releases. It has an Overweight rating on the stock with a $10 price target.
10:01 EDTACHNOn The Fly: Analyst Initiation Summary
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09:10 EDTACHNOn The Fly: Pre-market Movers
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07:11 EDTACHNAchillion achieves 100% SVR4 in Phase 2 trial of ACH-3102 and sofosbuvir
Achillion Pharmaceuticals announced interim results from an ongoing Phase 2 proxy study evaluating ACH-3102, Achillion's second-generation NS5A inhibitor, in combination with sofosbuvir, without ribavirin, for eight weeks of treatment in patients with treatment-na´ve genotype 1 chronic hepatitis C virus infection. Of the 12 patients treated, 100 percent remained HCV RNA undetectable four weeks after completing therapy. Based upon these results, 12 additional patients will begin treatment with six weeks of once daily ACH-3102 and sofosbuvir. "ACH-3102 continues to demonstrate good safety and tolerability through three Phase 2 studies. We believe these studies also confirm a differentiated efficacy profile for an NS5A inhibitor. Achieving 100% SVR4 with eight weeks of treatment with sofosbuvir serving as a nucleotide proxy indicate that dosing 50 mg once daily of ACH-3102 plus a nucleotide inhibitor has the potential to achieve commercially competitive results for curing HCV in a short duration, ribavirin-free doublet," commented David Apelian, EVP and Chief Medical Officer at Achillion. Milind Deshpande, President and CEO of Achillion commented, "As we continue to achieve clinical milestones, we remain focused on execution of the broader clinical development strategy for our HCV portfolio. We expect that Phase 1 proof-of-concept results with ACH-3422 will be reported during the fall of this year, which we anticipate will lead to the start of a Phase 2 combination program to evaluate our proprietary doublet regimen for an eight week, or potentially shorter, treatment regimen for HCV that will begin before the end of 2014."
06:17 EDTACHNAchillion initiated with an Outperform at FBR Capital
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