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Stock Market & Financial Investment News

News Breaks
April 7, 2014
07:30 EDTILMNIllumina weakness creates buying opportunity, says Wells Fargo
Wells Fargo believes that the recent decline in Illumina's stock is mostly related to its correlation with biotech indices, and the firm sees this correlation as "a technical rather than a fundamental phenomenon." The firm believes that demand for the company's HiSeq, MiSeq, and HiSeq X instruments are strong, and it now identifies the stock as its top pick in the tools space. It increased its price target on the shares to $170-175 from $155-$160.
News For ILMN From The Last 14 Days
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December 3, 2014
16:30 EDTILMNOn The Fly: Closing Wrap
Stocks on Wall Street opened quietly and trading remained muted through another session. Despite a host of economic data, including the Fedís Beige book report, the market moved in a narrow range, albeit toward record levels. The Fedís report confirmed the economy continues to improve, but at a slow pace. ECONOMIC EVENTS: In the U.S., Automatic Data Processing reported private payrolls increased 208k in November, versus expectations for 222K. Q3 nonfarm productivity grew 2.3%, versus expectations for an increase of 2.4%. Markit's final services PMI for November dropped to 56.2, which was below the 56.3 November flash print and down from October's 57.1 reading. The Institute for Supply Management's composite non-manufacturing index jumped to 59.3 in November from 57.1 in October, beating expectations for it to remain unchanged. The Federal Reserve Beige Book stated that the country's economy continued to expand in October and November. Consumer spending rose in most areas and the employment situation improved in many areas, while demand for nonfinancial services rebounded and lending held steady or increased, districts reported to the central bank. COMPANY NEWS: Carbonite (CARB) jumped $2.68, or 22.79%, to $14.44 after J2 Global (JCOM) offered to acquire all of the company's outstanding shares for $15.00 per share in cash. Carbonite's board will carefully "review and consider the offer," the company announced following its receipt of the unsolicited takeover bid. Investors reacted favorably to J2 Global's offer, sending its shares up $3.36, or 5.9%, to $60.33 as well. MAJOR MOVERS: Among the notable gainers was Sequenom (SQNM), which rose 72c, or 23.61%, to $3.77 after the company and a unit of Illumina (ILMN) agreed to settle all their pending infringement claims. Also higher was UTi Worldwide (UTIW), which jumped $2.34, or 20.28%, to $13.88 after Bloomberg, citing people with knowledge of the matter, reported that the company could reach an agreement to sell itself to Denmark-based DSV A/S as soon as this month. Among the noteworthy losers was Puma Biotechnology (PBYI), which sunk $27.33, or 12.15%, to $197.67 after the company delayed the filing for neratinib from the first half of 2015 to Q1 of 2016. Also lower were Class B shares of Brown-Forman (BF.B), which fell $3.75, or 3.91%, to $92.25 after the maker of Jack Danielís and other spirits reported lower than expected earnings and lowered its FY15 EPS view. INDEXES: The Dow rose 33.07, or 0.18%, to 17,912.62, the Nasdaq gained 18.66, or 0.39%, to 4,774.47, and the S&P 500 added 7.78, or 0.38%, to 2,074.33.
12:39 EDTILMNOn The Fly: Midday Wrap
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10:47 EDTILMNSequenom settlement positive but reflected in stock price, says Ladenburg
Ladenburg views the settlement reached between Sequenom (SQNM) and Illumina (ILMN) as a near-term positive for Sequenom that gives more clarity on the competitive landscape, lowers its legal expenses and brings in needed capital. However, the firm believes the near-term financial benefit is reflected in the stock's valuation and maintains its Neutral rating on Sequenom shares.
09:23 EDTILMNOn The Fly: Pre-market Movers
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06:07 EDTILMNIllumina and Sequenom end patent dispute with partnership in prenatal testing
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