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Stock Market & Financial Investment News

News Breaks
June 9, 2014
12:42 EDTNSR, PF, HSH, MRK, DG, PPC, GILD, ERIC, FDO, TSN, ACHN, IDIXOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, pushing the S&P 500 and the Dow Jones Industrial Average toward new milestone levels. The market began the session just slightly below the flat-line, but within minutes had moved into positive territory where it has remained all morning. The averages have moved in a very narrow range, but the slow drift higher has the Dow within striking distance of 17,000 and the S&P edging closer to 2,000. ECONOMIC EVENTS: In the U.S., no significant economic data was reported. In Asia, data released over the weekend showed that China's trade surplus widened in May to $35.92B, as the nation's exports accelerated more than forecast and imports fell more than expected. COMPANY NEWS: Shares of several companies that have developed hepatitis C, or HCV, treatments were active after one such company, Idenix (IDIX), agreed to be acquired by pharmaceutical giant Merck (MRK) for $24.50 per share in cash. The purchase price is more than triple the company's closing price on Friday and Idenix shares rose more than 230% to trade near $24.09 after the announcement. Shares of Achillion Pharmaceuticals (ACHN), which has developed its own HCV drugs, were up 40% as investors speculate it could be the next takeover target in the space, while shares of Gilead (GILD) fell about 4% after an analyst wrote that Merck bought Idenix partly to strengthen its hand in patent litigation against Gilead... Food processor and distributor Hillshire Brands (HSH) advanced another 5% after Tyson Foods (TSN) increased its offer to acquire the company to $63 per share, prompting rival Pilgrim's Pride (PPC) to withdraw its own takeover proposal. However, Tyson's new offer is still subject to Hillshire being released from its existing agreement to acquire Pinnacle Foods (PF) and Hillshire said it does not have the right to break its merger pact with Pinnacle on the basis of the Tyson offer or enter into an agreement with Tyson prior to the termination. MAJOR MOVERS: Among the notable gainers was Family Dollar (FDO), which climbed 14% after well-known activist investor Carl Icahn disclosed that he had obtained a significant stake in the company. Also higher were shares of peer Dollar General (DG), which gained nearly 10% after Icahn reportedly told Fox Business that he may push for a merger between the two dollar store operators. Among the noteworthy losers was Neustar (NSR), which dropped 7.5% after acknowledging a copy of a confidential email was posted in the FCC docket and made available to the public. Deutsche Bank noted that shares of NeuStar traded down just before the close on Friday after the posting, which suggested the North American Numbering Council has recommended selecting iConectiv, the Telcordia unit of Ericsson (ERIC), as the vendor for the Number Portability Administration Center in place of incumbent Neustar. INDEXES: Near midday, the Dow was up 31.57, or 0.19%, to 16,955.85, the Nasdaq was up 22.30, or 0.52%, to 4,343.70, and the S&P 500 was up 3.92, or 0.2%, to 1,953.36.
News For IDIX;MRK;ACHN;GILD;HSH;TSN;PPC;PF;FDO;DG;NSR;ERIC From The Last 14 Days
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February 23, 2015
16:00 EDTGILDOptions Update; February 23, 2015
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09:39 EDTGILDActive equity options trading on open
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08:27 EDTMRKNGM Biopharmaceuticals to hold a teleconference
NGM Biopharm discusses the strategic collaboration with Merck to discover, develop and commercialize novel biologic therapeutics on a teleconference to be held on February 23 at 9:30 am. Webcast Link
07:57 EDTDGDollar General resumed with an Overweight at JPMorgan
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07:16 EDTGILDMylan signs exclusive agreement with Gilead to distribute Solvaldi, Harvoni
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07:04 EDTMRKMerck, NGM Biopharmaceuticals announce multi-year collaboration
NGM Biopharmaceuticals and Merck announced they have entered into a multi-year collaboration to research, discover, develop and commercialize novel biologic therapies across a wide range of therapeutic areas. This agreement will become effective upon the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. The collaboration includes multiple drug candidates currently in preclinical development at NGM, including NP201, which is being evaluated for the treatment of diabetes, obesity and nonalcoholic steatohepatitis. NGM will lead the research and development of the existing preclinical candidates and have the autonomy to identify and pursue other discovery stage programs at its discretion. Merck will have the option to license all resulting NGM programs following human proof of concept trials. If Merck exercises this option, Merck will lead global product development and commercialization for the resulting products, if approved. Under the terms of the agreement, Merck will make an upfront payment to NGM of $94M and will purchase a 15 percent equity stake in NGM for $106M at a price per share that represents a 20% premium to NGM’s most recent financing. Merck will commit up to $250M to fund all of NGM’s efforts under the initial five-year term of the collaboration, with the potential for additional funding if certain conditions are met. Prior to Merck initiating a Phase 3 study for a licensed program, NGM may elect to either receive milestone and royalty payments or, in certain cases, to co-fund development and participate in a global cost and revenue share arrangement of up to 50%. The agreement also provides NGM with the option to participate in the co-promotion of any co-funded program in the United States. Merck will have the option to extend the research agreement for two additional two-year terms.
February 20, 2015
07:08 EDTMRKAmerican Academy of Allergy, Asthma and Immunology to hold annual meeting
2015 Annual Meeting of AAAAI is being held in Houston, Texas on February 20-24.
February 19, 2015
14:38 EDTTSN, PPCGovernment panel continues to recommend lean meat, Bloomberg says
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09:35 EDTGILDOption volume leaders
Option volume leaders: AAPL TSLA TWTR MCD WMT PBR SPWR WFM GILD FB SCTY according to Track Data.
08:38 EDTMRKNewLink reports clinical development milestone achieved with Merck for rVSV-EBOV
NewLink Genetics (NLNK) announced that it had received notification from Merck (MRK) that the milestone event specified in the license and collaboration agreement between the two companies relating to the further development of the rVSV-EBOV, Ebola, vaccine candidate had been achieved. Under the terms of the agreement, NewLink Genetics will receive a payment of $20M in connection with the achievement of the milestone. The milestone pertains to the initiation of a key clinical trial for the vaccine.
February 18, 2015
10:42 EDTERICEricsson to hold a briefing
Chief Marketing & Communications Officer Norrman provides information on the company's participation at Mobile World Congress 2015 on an industry analyst telebriefing to be held on February 19 at 11 am. Webcast Link
09:37 EDTGILDOption volume leaders on open
Option volume leaders: AAPL TSLA TWTR CELG APO NFLX AXP APA LNKD C GILD according to Track Data.
08:21 EDTERICBofa European telecom equipment analysts hold analyst/industry conference call
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February 17, 2015
18:17 EDTDGJANA Partners gives quarterly update on stakes
NEW STAKES: NCR (NCR), Liberty Ventures (LVNTA), Solarcity (SCTY), Computer Sciences Corp (CSC), Salix (SLXP), and Applied Materials (AMAT). INCREASED STAKES: Hertz (HTZ), Valeant (VRX), Walgreens Boots Alliance (WBA), Rackspace (RAX), and HD Supply (HDS). DECREASED STAKES: AIG (AIG), Actavis (ACT), Charter (CHTR), AerCap (AER), and Energy Transfer Equity (ETE). LIQUIDATED STAKES: Equinix (EQIX), Cameron International (CAM), Dollar General (DG), QEP Resources (QEP), and Amgen (AMGN).
18:06 EDTDG, FDOPaulson & Co gives quarterly update on stakes
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17:13 EDTGILDPoint72 gives quarterly update on stakes
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16:00 EDTGILDOptions Update; February 17, 2015
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13:18 EDTGILDOmega Advisors gives quarterly update on stakes
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09:40 EDTGILDActive equity options trading on open
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February 15, 2015
16:35 EDTDGDollar General shares could rise 20%, Barron's says
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