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Stock Market & Financial Investment News

News Breaks
January 17, 2014
14:43 EDTILMN, AMGNIllumina February volatility up, shares at record high on agreement with Amgen
Illumina (ILMN) February call option implied volatility is at 40, March is at 36, June is at 35; compared to its 26-week average of 35 according to Track Data, suggesting large near term price movement on an agreement with Amgen (AMGN) to develop oncology companion diagnostic test.
News For ILMN;AMGN From The Last 14 Days
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July 24, 2014
07:18 EDTILMNIllumina price target raised to $195 from $180 at Leerink
Leerink raised its price target for Illumina shares to $195 citing continued instrument momentum following the company's Q2 results. The firm keeps an Outperform rating on the stock.
July 23, 2014
16:23 EDTILMNIllumina raises FY14 EPS view to $2.26-$2.28 from $2.10-$2.15, consensus $2.17
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16:19 EDTILMNIllumina reports Q2 EPS 57c, consensus 51c
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15:30 EDTILMNNotable companies reporting after market close
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July 21, 2014
06:32 EDTILMNIllumina's NGS selected by Berry Genomics
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July 17, 2014
16:10 EDTAMGNAmgen announces positive Phase 3 results for AMG 416
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10:00 EDTILMNOn The Fly: Analyst Initiation Summary
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06:20 EDTILMNIllumina initiated with a Buy at Citigroup
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July 16, 2014
06:31 EDTILMNIllumina acquires Myraqa
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July 15, 2014
10:56 EDTAMGNFed calls small cap social media, biotech valuations 'stretched'
The Board of Governors of the Federal Reserve in its Monetary Policy Report dated today said valuation metrics in "some sectors" appear substantially stretched, "particularly those for smaller firms in the social media and biotechnology industries, despite a notable downturn in equity prices for such firms early in the year." A later part in the document reads, "Equity valuations of smaller firms as well as social media and biotechnology firms appear to be stretched, with ratios of prices to forward earnings remaining high relative to historical norms." The specific targeting of sectors by the Fed seems to be having an impact on stocks in the social media and biotech spaces. Shares of Yelp (YELP) are down over 5% to $67.51, while Twitter (TWTR) and Facebook (FB) are each down 2%. Celgene (CELG) and Amgen (AMGN) are leading the biotech space lower with pullbacks of greater than 1%.
10:33 EDTAMGNFacebook, Twitter slip following cautious valuation comments from Fed
Shares of a number of companies in the social media and biotech industries moved lower following the circulation of cautious comments about their stock valuations that were included in the Federal Reserve's latest Monetary Policy Report. WHAT'S NEW: In the report, presented by the Board of Governors of the Federal Reserve and signed on behalf of the governors by Chair Janet Yellen, the central bank wrote that some broad equity price indexes have increased to all-time highs in nominal terms since the end of 2013, but that valuation measures for the overall market in early July were "generally at levels not far above their historical averages." However, the Fed's report also cautioned that valuation metrics in some sectors do appear substantially "stretched," particularly those for smaller firms in the social media and biotechnology industries, despite a notable downturn in equity prices for such firms early in the year. As support for its assessment, the Fed noted that ratios of prices to forward earnings for "smaller firms as well as social media and biotechnology firms" remain "high relative to historical norms." PRICE ACTION: Following the circulation of the comments in the Fed report, shares of Facebook (FB) are down 88c, or 1.3%, to $67.02, Twitter (TWTR) is down 24c, or 0.6%, to $38.07 and LinkedIn (LNKD), is down 21c, or 0.1%, to $159.57. Shares of some biotechnology companies including Celgene (CELG) and Amgen (AMGN) also ticked lower following the circulation of the comments from the Fed's report.
July 12, 2014
16:18 EDTILMNIllumina selected by UK for genome sequencing, Bloomberg says
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