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Stock Market & Financial Investment News

News Breaks
June 9, 2014
16:33 EDTIDIX, ADI, HITT, DG, FDO, PPC, TSN, HSH, AAPL, GILD, ACHN, MRK, CNSIOn The Fly: Closing Wrap
Stocks on Wall Street were slightly higher after a session that major averages spent mostly drifting just north of their starting points. The Dow and S&P 500 hit new highs once again despite the sluggish news flow, with the main news of the day being M&A stories that all hit either over the weekend or early this morning. ECONOMIC EVENTS: In the U.S., no significant economic data was reported. In China, data released over the weekend showed its trade surplus widened in May to $35.92B, as the nation's exports accelerated and its imports fell. COMPANY NEWS: Idenix Pharmaceuticals (IDIX) surged $16.56, or 229.05%, to $23.79 after pharmaceutical giant Merck (MRK) agreed to acquire the smaller drugmaker, which has valuable assets in the hepatitis C virus space, for $24.50 per share in cash. The deal, which values Idenix at about $3.85B, prompted analyst commentary that Achillion (ACHN), which is also developing HCV treatments, is an acquisition candidate and Achillion's shares finished up $1.37, or 47.57%, to $4.25. Shares of Gilead (GILD), which sells the drug, Sovaldi, that is widely seen as the current leader in the HCV space, fell $3.39, or 4.11%, to $79.00 following the news... Shares of a number of dollar store operators climbed after after well-known activist investor Carl Icahn disclosed that he had obtained a significant stake in one of the company in the space, Family Dollar (FDO), and subsequently told Fox Business that he may push for a merger between the company and peer Dollar General (DG)... Apple (AAPL) shares were in focus as its 7-for-1 stock split took effect. The newly split shares finished the day up $1.48, or 1.6%, at $93.70. MAJOR MOVERS: Among the notable gainers was Hittite Microwave (HITT), which surged $17.34, or 28.63%, to $77.90 after Analog Devices (ADI) agreed to acquire the company for $78 per share in cash. Shares of Analog Devices also gained $2.62, or 4.97%, to $55.31 following the news. Also higher was Hillshire Brands (HSH), which rose $3.14, or 5.33%, to $62.06 after Tyson Foods (TSN) increased its offer to acquire the company to $63 per share. Pilgrim's Pride (PPC), which was prompted to withdraw its own takeover proposal to Hillshire after Tyson raised its bid, fell $1.76, or 6.7%, to $24.51. Also lower were shares of Comverse (CNSI), which fell $2.13, or 8.53%, to $22.83 following the company's report of losses in its first quarter. INDEXES: The Dow was up 18.82, or 0.11%, to 16,943.10, the Nasdaq was up 12.31, or 0.28%, to 4,333.71, and the S&P 500 was up 1.83, or 0.09%, to 1,951.27.
News For IDIX;MRK;ACHN;GILD;AAPL;HSH;TSN;PPC;FDO;DG;HITT;ADI;CNSI From The Last 14 Days
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September 4, 2014
17:32 EDTAAPLApple can head higher, Samsung event underwhelms, Barron's says
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16:00 EDTAAPLOptions Update; September 4, 2014
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15:16 EDTMRKMerck receives accelerated approval of Keytruda
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11:59 EDTAAPLApple to feature NFC in iWatch as well as iPhone, WSJ says
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11:30 EDTGILDStocks with call strike movement; AAL GILD
American Airlines (AAL) November 44 call option implied volatility increased 6% to 39, Gilead (GILD) November 130 call option implied volatility decreased 5% to 40 according to IVolatility.
11:20 EDTAAPLApple iPhone 6 seen lacking sapphire cover, AppleInsider says
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09:35 EDTAAPL, GILDActive equity options trading on open
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09:26 EDTTSNTyson Foods backs FY14 EPS ex-items view of at least $2.78 per share
Consensus $2.81. Tyson CFO Dennis Leatherby stated at the Barclays Back-to-School Consumer Conference that he expects the addition of Hillshire to be accretive to earnings in fiscal 2015 and substantially accretive thereafter, adding that he expects at least 10% EPS growth in FY15.
09:24 EDTTSNTyson Foods CEO says moving forward quickly with Hillshire integration
Tyson President and CEO Donnie Smith told investors at the annual Barclays Back-to-School Consumer Conference that the process for combining the company with Hillshire is well underway, stating, "We're moving forward quickly with the integration and finding synergies, and we feel good about our ability to capture $225M in synergies in the first year and $500M by year three." Smith added, "The more we get into it, the better we feel," according to presentation recap provided by the company.
09:08 EDTAAPLExperts: Photo theft should highlight cloud risk, The Hill reports
The recent theft of celebrity photos from Apple's iCloud should make people realize the dangers of using the cloud to store personal information, The Hill quoted security experts as saying. Meanwhile, the website reported that the Federal Trade Commission could launch a probe in response to the incident, while Congress may also respond. Reference Link
09:02 EDTMRKMerck's relebactam granted QIDP, fast track designations by FDA
Merck announced that the U.S. Food and Drug Administration has designated relebactam -- previously known as MK-7655 -- the company’s investigational beta-lactamase inhibitor, as a Qualified Infectious Disease Product with designated Fast Track status. The QIDP and Fast Track designations apply to intravenous use of relebactam for the treatment of complicated urinary tract infections, complicated intra-abdominal infections and hospital-acquired bacterial pneumonia/ventilator-associated bacterial pneumonia. Relebactam is an investigational, class A and C, beta-lactamase inhibitor that is being evaluated in combination with imipenem/cilastatin in ongoing Phase 2 clinical trials for the treatment of complicated urinary tract infections and complicated intra-abdominal infections. In preclinical studies, relebactam administered in combination with imipenem/cilastatin demonstrated antibacterial activity against a broad range of Gram-negative and beta-lactam-resistant pathogens. Merck plans to initiate Phase 3 studies with relebactam in combination with imipenem/cilastatin in 2015.
08:47 EDTAAPLApple shares should be bought on weakness, says JMP Securities
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07:58 EDTADIAnalog Devices shares look attractive after decline, says Argus
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07:30 EDTAAPLApple has good read through from ineffective Samsung launch, says Cantor
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07:21 EDTGILD, MRKMedidata can obtain major new platform customers, says Stifel
Noting that Medidata (MDSO) partners with Veeva, Stifel believes that a number of Veeva (VEEV) customers could become Medidata platform customers, especially if they already use Medidata for R&D and clinical trial solutions. The firm identifies Merck (MRK), Gilead (GILD), and Teva (TEVA) as companies that may become platform clients for Medidata. Stifel keeps a $55 price target and Buy rating on Medidata.
06:51 EDTAAPLApple's iPhone 6 subsidies unlikely to be cut in China, WantChinaTimes says
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06:40 EDTAAPLApple, others restart discussions with tech staff in hiring suit, Reuters says
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06:30 EDTAAPLIDC: Phablet shipments to pass PCs in 2014, tablets in 2015, DigiTimes reports
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06:22 EDTAAPLeBay to meet PayPal estimates despite competition, says Piper Jaffray
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05:56 EDTAAPLStocks with implied volatility movement; END AAPL
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