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Stock Market & Financial Investment News

News Breaks
July 18, 2014
11:25 EDTCY, SNDK, LO, EBAY, INFY, SHPG, FAST, URI, YHOO, IGTOptions with decreasing implied volatility
Options with decreasing implied volatility: IGT SHPG LO YHOO INFY SNDK URI EBAY CY FAST
News For IGT;SHPG;LO;YHOO;INFY;SNDK;URI;EBAY;CY;FAST From The Last 14 Days
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January 12, 2015
14:04 EDTSNDKSanDisk downgraded to Hold from Buy at Needham
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13:31 EDTEBAYPayPal providing new credit options
eBay's PayPal earlier today announced that, for the first time, by leveraging new credit models retailers can customize PayPal Credit will offer a monthly payment option and decide on the number of months and interest rate that works best for their customers. They can also offer interest free options to customers shopping online who are approved in minutes, the payment service said. The new PayPal Credit feature works within the open-ended construct of the PayPal Credit product, allowing customers to divide their larger purchases into substantially equal monthly payments, PayPal stated. This gives consumers more control and helps them to better manage their budget, it added.
12:46 EDTSNDK, SHPGOn The Fly: Midday Wrap
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11:39 EDTSNDKMorgan Stanley remains bullish on SanDisk long-term
Morgan Stanley said the damage is done in SanDisk and remains Overweight based on expectations a strong NAND cycle will play-out longer-term. Price target lowered to $105 from $109
10:50 EDTSNDKSanDisk guidance does not change longer term thesis, says Piper Jaffray
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10:25 EDTSNDKSanDisk tumbles after Q4 revenue outlook cut, levels to watch
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10:23 EDTSNDKSanDisk weakness an overreaction, says Jefferies
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10:15 EDTINFYOptions with decreasing implied volatility
Options with decreasing implied volatility: NBIX APOL NPSP BBBY INFY JCP MU TIF
09:30 EDTSNDK, SHPGOn The Fly: Pre-market Movers
HIGHER: Foundation Medicine (FMI) up 138.9% following transaction with Roche (RHHBY)... Celator Pharmaceuticals (CPXX), up 19.1% after announcing promising Phase 2 data for CPX-351... Second Sight (EYES), up 16.7% after Health Canada approves Argus II retinal prosthesis system... Aegerion (AEGR), up 7.8% after reporting preliminary fourth quarter results and guidance... Express (EXPR), up 4.5% after reporting preliminary fourth quarter results. NOTABLE: NPS Pharmaceuticals (NPSP), up 8.5% following acquisition by Shire (SHPG)... Shire is down 1.1% in pre-market trading. LOWER: Arrowhead (ARWR), down 20.9% after FDA clears company to begin modified study of ARC-520 in a preliminary call of a partial clinical hold... Tiffany (TIF), down 10.4% after lowering fiscal 2014 net EPS guidance... SanDisk (SNDK), down 10.1% after lowering fourth quarter outlook... Ascena Retail (ASNA), down 5.8% after lowering fiscal 2015 adjusted EPS view... Sarepta Therapeutics (SRPT), down 5.9% after reporting long-term outcomes from Phase IIb Eteplirsen study... Loral Space & Communications (LORL), down 3.6% following a NY Post article that reported that talks to sell itself to the Ontario Teachers’ Pension Plan have ended... Southwestern Energy (SWN), down 4.2% after filing to sell 20.3M shares of stock and 26M depository shares.
09:03 EDTSNDKSanDisk drops 9% after cutting Q4 revenue outlook
Shares of flash storage provider SanDisk (SNDK) are sinking after the company cut its revenue outlook for Q4 to $1.73B from $1.80B-$1.85B. It added that non-GAAP gross margin for the quarter is expected to be approximately 45% compared to the previously guided range of 47%-49%. "The lower revenue was primarily due to weaker than expected sales of retail and iNAND products," SanDisk explained. The stock is dropping 9%, or $8.40, to $88.64 in pre-market trading while peer Micron (MU) is down 3% to $32.54.
08:47 EDTSHPGShire acquisition favorable, says RBC Capital
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08:37 EDTSHPGShire deal suggests most biotech companies in play, says JMP Securities
After Shire (SHPG) agreed to buy NPS Pharmaceuticals (NPSP), JMP Securities says the deal indicates that most biotech companies are in play, particularly those with worldwide rights to their products for well-defined patient populations. The firm expects investors to speculate all week about potential new targets in the space. Publicly traded companies in the space include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY).
08:20 EDTSNDKSanDisk cuts Q4 revenue view to $1.73B from $1.8B-$1.85B
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08:14 EDTSHPGShire acquisition positive, says SunTrust
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08:00 EDTSHPGShire deal for NPS Pharmaceuticals positive, says Susquehanna
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07:56 EDTSHPGShire price target raised to $257 from $223 at William Blair
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07:35 EDTEBAYNational Retail Federation to hold a trade show
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07:11 EDTSHPGNPS Pharmaceuticals volatility elevated into being acquired by Shire in a $5.2B
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06:12 EDTYHOOStocks with implied volatility above IV index mean; HLF YHOO
Stocks with implied volatility above IV index mean; Herbalife (HLF) 114, Yahoo (YHOO) 50 according to iVolatility.
January 11, 2015
11:08 EDTSHPGShire acquires NPS Pharmaceuticals for $46 per share or $5.2B
Shire (SHPG) and NPS Pharmaceuticals (NPSP) announced that the companies have entered into a merger agreement pursuant to which Shire will acquire all the outstanding shares of NPS Pharma for $46.00 per share in cash, for a total consideration of approximately $5.2B. Shire said it "will accelerate the growth of NPS Pharma's innovative portfolio through its market expertise in gastrointestinal disorders, core capabilities in rare disease patient management, and global footprint." The transaction has been approved unanimously by the boards of both Shire and NPS Pharma. The $46 per share price in the transaction represents a 51% premium to NPS Pharma's unaffected share price of $30.47 on December 16, 2014. The acquisition is expected to enhance Shire's revenue and earnings growth profile. Shire expects the transaction to be accretive to non-GAAP earnings from 2016 onward. Related to the acquisition, Shire anticipates that it will realize operating synergies beginning in 2016 and growing "substantially" thereafter. Shire anticipates synergies approximating 25%-35% of the Street's consensus forecast of NPS Pharma's standalone future operating cost base from 2017 onward. Shire also expects that the transaction will deliver ROIC in excess of its weighted average cost of capital. Shire has secured an $850M fully underwritten short-term bank facility, which, in addition to Shire's cash and cash equivalents and its existing $2.1B five-year revolving credit facility, is available to finance the transaction and pay related fees and expenses. Shire plans to refinance the short-term bank facility through new debt issuances in "due course." The closing of the deal is anticipated in Q1 of 2015. Shares of NPS closed Friday down $1.01 to $41.91.
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