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Stock Market & Financial Investment News

News Breaks
April 9, 2014
04:55 EDTIDIX, IDIX, IDIX, IDIX, IDIX, ICPT, ICPT, ICPT, ICPT, ICPT, JNJ, JNJ, JNJ, JNJ, JNJ, GILD, GILD, GILD, GILD, GILD, ENTA, ENTA, ENTA, ENTA, ENTA, BMY, BMY, BMY, BMY, BMY, ACHN, ACHN, ACHN, ACHN, ACHN, MK, MK, MK, MK, MK, MRK, MRK, MRK, MRK, MRKEuropean Association for the Study of the Liver to hold annual meeting
49th Annual Meeting of EASL is being held in London, England on April 9-13.
News For IDIX;ICPT;JNJ;GILD;ENTA;BMY;ACHN;MK;MRK From The Last 14 Days
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August 18, 2014
09:35 EDTGILDActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AMZN DG TSLA GILD FB ABX WFC C
09:03 EDTACHNOn The Fly: Pre-market Movers
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07:57 EDTBMY, 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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August 15, 2014
17:02 EDTICPTStocks end week slightly higher despite flare-up in Russian tensions
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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.
16:00 EDTGILDOptions Update; August 15, 2014
iPath S&P 500 VIX Short-Term Futures up 1c to 28.88. Option volume leaders: AAPL GILD NFLX PBR TWTR TSLA MNKD AMZN C according to Track Data.
12:39 EDTACHNOn The Fly: Midday Wrap
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10:41 EDTICPTOptions with decreasing implied volatility
Options with decreasing implied volatility: ARWR ICPT UVXY MNKD KING VIX SVXY VXX RAX OPK
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 EDTICPT, ACHN, GILD, ENTAOn The Fly: Analyst Initiation Summary
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09:10 EDTACHNOn The Fly: Pre-market Movers
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08:35 EDTENTAEnanta management to meet with Leerink
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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."
06:32 EDTICPTIntercept started with Underperform, $172 target at FBR Capital
FBR Capital initiated shares of Intercept with an Underperform rating and $172 price target. The stock closed yesterday at $296.36. FBR believes investors are too optimistic on the nonalcoholic steatohepatitis market and the company's path to commercialization for its obeticholic acid. The firm thinks Intercept may face payor pushback and restriction as its drug will be competing with hepatitis C treatments for dollars.
06:23 EDTENTAEnanta initiated with an Outperform at FBR Capital
Target $52.
06:18 EDTGILDGilead initiated with an Outperform at FBR Capital
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06:17 EDTACHNAchillion initiated with an Outperform at FBR Capital
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06:16 EDTICPTIntercept initiated with an Underperform at FBR Capital
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06:12 EDTGILDGilead announced favorable ruling in arbitration against Roche
Gilead (GILD) announced that an arbitration panel determined that Roche (RHHBY) failed to establish any of their claims and ruled in favor of Gilead. As a result, Roche is not entitled to any damages or other relief. In March 2013, Roche initiated an arbitration against Gilead and Pharmasset, predecessor to Gilead Pharmasset, regarding a 2004 collaboration agreement between Roche and Pharmasset. In the arbitration demand, Roche asserted that it had an exclusive license to sofosbuvir pursuant to the collaboration agreement because sofosbuvir, a prodrug of a uridine monophosphate analog, is allegedly a prodrug of PSI-6130, a cytidine analog. Roche further claimed that, because it had exclusive rights to sofosbuvir, it also had an exclusive license to a patent covering sofosbuvir, and that we infringed that patent by selling and offering for sale products containing sofosbuvir.
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