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Stock Market & Financial Investment News

News Breaks
June 9, 2014
12:42 EDTFDO, TSN, ACHN, NSR, PF, HSH, MRK, DG, PPC, GILD, ERIC, 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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August 27, 2015
07:05 EDTDGDollar General sees FY15 EPS $3.85-$3.95, consensus $3.95
For the 2015 fiscal year, the Company is reconfirming its financial guidance provided on June 2, 2015. Total sales are expected to increase 8 to 9 percent over the 2014 fiscal year, with same-store sales expected to increase 3 to 3.5 percent. Operating profit for 2015 is expected to increase 7 to 9 percent over the 2014 adjusted operating profit. Diluted EPS for the fiscal year is expected to be approximately $3.85 to $3.95. Considering sales performance to date and the current operating environment, management expectations are that same-store sales likely will be closer to the low-end of the range. Capital expenditures are expected to be in the range of $500 million to $550 million in 2015. Dollar General plans to open approximately 730 new stores in 2015, or 6 percent square footage growth, and relocate or remodel 875 stores. To date, the Company is on track with its pipeline development to accelerate new store openings to 7 percent square footage growth in 2016.
07:04 EDTDGDollar General confirms FY15 financial outlook
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07:04 EDTDGDollar General reports Q2 EPS 95c, consensus 94c
Reports Q2 revenue $5.1B, consensus $5.14B. Reports Q2 SSS up 2.8%.
05:37 EDTERICEricsson renews playout services contract with ITV
Ericsson announced that it has renewed its playout services contract with ITV, the UK's leading commercial television network. The contract, which has been extended until 2024, will see Ericsson continue to provide playout services for ITV's portfolio of channels including ITV, ITV2, ITV3, ITV4, ITV HD and CITV and their associated regional variants as well as ITV's newest TV channels, ITV Encore and ITVBe. As part of the contract, Ericsson has designed, built and integrated a state-of-the-art scalable simulcast platform for ITV. The modular infrastructure will allow ITV the flexibility to deliver new services and launch existing services onto new platforms, easily and with a high level of resilience.
August 26, 2015
19:54 EDTTSNJudge overturns roughly $24M in damages against Tyson Foods, Reuters says
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17:06 EDTGILDGilead AMBITION study results published in New England Journal of Medicine
Gilead Sciences (GILD) announced detailed results from the AMBITION study. In AMBITION, conducted in collaboration with GlaxoSmithKline (GSK), combination therapy with Letairis and tadalafil reduced the risk of clinical failure by 50% compared to the pooled Letairis and tadalafil monotherapy arm. These data were published in The New England Journal of Medicine. Letairis, a selective endothelin type-A receptor antagonist, and tadalafil, a PDE5 inhibitor, are each approved in the United States, the European Union and other countries as once-daily treatments for patients with pulmonary arterial hypertension with WHO/NYHA functional class II and III symptoms. Letairis is indicated in the U.S. to improve exercise ability and delay clinical worsening and in the EU under the tradename Volibris to improve exercise capacity. Tadalafil 40 mg is indicated in the U.S. and the EU to improve exercise ability and capacity, respectively. Preclinical data have suggested these therapies may have synergistic effects. However, combination use with Letairis and tadalafil is currently not approved.
15:00 EDTDGNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Dollar General (DG), consensus 94c... J. M. Smucker (SJM), consensus $1.23... Tiffany (TIF), consensus 91c... Signet Jewelers (SIG), consensus $1.15... Patterson (PDCO), consensus 54c... Michaels (MIK), consensus 16c... Burlington Stores (BURL), consensus 12c.
08:53 EDTMRKMerck management to meet with SunTrust
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August 25, 2015
19:34 EDTGILDExperts tell White House to expand use of Hepatitis C drugs, NYT says
Health care experts from the Public Health Service and the Advisory Council on H.I.V./AIDS have recommended that Medicaid officials expand the use of costly Hepatitis C drugs including AbbVie's (ABBV) Viekira Pak and Gilead's (GILD) Sovaldi and Harvoni, reports the New York Times, citing correspondence sent to the White House. The advisory council said current usage limitations on the drugs are "unreasonable," but it also suggested that manufacturers disclose drug development costs in the face of the significant price tags on modern Hepatitis C treatments. Reference Link
07:38 EDTDGDollar Tree, Dollar General weakness a buying opportunity, says UBS
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August 24, 2015
15:29 EDTDGDollar General August weekly volatility elevated into Q2 and outlook
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13:36 EDTGILDBiotech correction presents some opportunities, says RBC Capital
RBC Capital analyst Michael Yee said he won't try to pick the short-term bottom in biotech, but contends that any macro weakness in China shouldn't have any major impact to financials or fundamentals for the sector given their minimal exposure there. If the market continues to be volatile, Yee recommends a focus on names with defensive characteristics, such as higher margins and free cash flow yield, naming Amgen (AMGN), Celgene (CELG) and Gilead (GILD) as some examples. The analyst adds that he likes Vertex (VRTX) on the pullback for "more aggressive" growth investors. Yee has Outperform ratings on all of the stocks mentioned above.
August 23, 2015
12:35 EDTMRKBiotech firms could see 'billions' in sales from new cancer drugs, Barron's says
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August 21, 2015
05:44 EDTMRKStocks with implied volatility movement; DIS MRK
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August 20, 2015
19:53 EDTTSNRetailers, others question heightened fees at Port of Oakland, WSJ says
After the Port of Oakland said it is considering implementing additional fees, the Retail Industry Leaders Association told the Federal Maritime Commission that it is "troubled" due to the lack of details regarding the fees, according to the Wall Street Journal. The retailer group also questioned the general effectiveness of such a program, and the Agriculture Transportation Coalition echoed the criticism, said the report. Note that executives from Lowe's (LOW), Best Buy (BBY), Target (TGT), Coca-Cola (KO), J.C. Penney (JCP), Tyson Foods (TSN), SunOpta (STKL), and Whole Foods (WFM) serve on the boards of the aforementioned associations. Reference Link
16:34 EDTGILDGilead MAA for HIV regimen has been fully validated by EMA
Gilead Sciences announced that the company's Marketing Authorization Application, MAA, for an investigational, once-daily single tablet regimen that combines emtricitabine 200 mg, tenofovir alafenamide 25 mg and rilpivirine 25 mg has been fully validated and is now under evaluation by the European Medicines Agency, EMA. Emtricitabine and tenofovir alafenamide are marketed by Gilead Sciences and rilpivirine is marketed by Janssen Sciences Ireland UC, one of the Janssen Pharmaceutical Companies of Johnson & Johnson. The data included in the application support the use of R/F/TAF for the treatment of HIV-1 infection in adults and pediatric patients 12 years and older. "With this validation, R/F/TAF is now the third TAF-based filing under review by the EMA as we advance a portfolio of new treatment options that may offer high efficacy and favorable safety profiles," said Norbert Bischofberger, PhD, Executive Vice President, Research and Development and Chief Scientific Officer, Gilead Sciences. "The R/F/TAF filing also represents the next step in our collaboration with Janssen to develop HIV treatments that potentially meet the diverse needs of people living with HIV."
11:49 EDTACHNOptions with increasing implied volatility
Options with increasing implied volatility: SRPT ACHN VIAV ZG RAD DIS ORCL SPY XLF OEX
11:33 EDTMRKLeerink major pharmaceuticals analyst holds an analyst/industry conference call
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08:38 EDTMRKMerck says to present new analyses from IMPROVE-IT study
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August 19, 2015
09:25 EDTPPCBB&T to hold a conference
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