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Stock Market & Financial Investment News

News Breaks
June 24, 2014
19:53 EDTVMI, BMY, TISI, IMS, CVROn The Fly: After Hours Movers
HIGHER: IMS Health Holdings (IMS), up 5.13% after acquiring certain Cegedim businesses for $520M... Bristol-Myers Squibb (BMY), up 1.97% after a Phase 3 study of nivolumab was halted early due to superior data. LOWER: CVR Refining (CVR), down 4.05% after filing a secondary offering. DOWN AFTER EARNINGS: Team (TISI), down 7.27%... Valmont Industries (VMI), down 5.71% after lowering its FY14 EPS view.
News For IMS;BMY;CVR;TISI;VMI From The Last 14 Days
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March 2, 2015
09:28 EDTBMYBristol-Myers says FDA accepts Yervoy sBLA for review
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07:20 EDTBMYCowen to hold a conference
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March 1, 2015
18:23 EDTVMIValmont could reach $180 per share in the next three years, Barron's says
Valmont could reach $180 per share in the next three years as the stock's historical multiple of fifteen times earnings implies that price target, Barron's contends in its 'Sizing Up Small Caps' column. Investors may want to add the stock to their portfolio, the paper adds. Reference Link
February 27, 2015
13:35 EDTBMYBristol-Myers reports FDA accepts BLA for Opdivo
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08:29 EDTBMYBristol-Myers price target raised to $78 from $70 at Argus
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February 26, 2015
15:23 EDTBMYBristol-Myers reports ALLY trial demonstrates 97% hepatitis C cure rates
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08:35 EDTBMYBristol-Myers says BMS-966176 Phase IIa study met primary endpoint
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February 25, 2015
08:36 EDTBMYBristol-Myers announces data from Phase IIb BMS-663068 trial
Bristol-Myers Squibb Company announced data from a Phase IIb trial of investigational compound BMS-663068, designed as an HIV-1 attachment inhibitor, in treatment-experienced HIV-1 patients. In the study, which compared BMS-663068 to a pharmacoenhanced protease inhibitor, virologic response rates and immunologic reconstitution were similar across the BMS-663068 and Reyataz/ritonavir arms of the trial through 48 weeks. Specifically, 61-82% of BMS-663068 patients had HIV-1 RNA levels <50 c/mL, compared to 71% of Reyataz/ritonavir patients at week 48. HIV-1 RNA levels <50 c/mL typically indicate virus replication is undetectable. Treatment with BMS-663068 resulted in no dose response safety signals, no treatment discontinuations related to adverse events, and no treatment-related serious adverse events over the course of the trial. The most common AEs were headache and abdominal pain. Due to the positive results seen thus far, a Phase III clinical trial of the attachment inhibitor among heavily treatment-experienced patients began on Monday, February 23, 2015. For the purposes of the Phase III trial, heavily treatment-experienced patients are defined as individuals who can no longer formulate a viable regimen due to accumulation of drug resistance, past intolerabilities or antiretroviral contraindications. The Phase IIb study results, presented yesterday at the 22nd Conference on Retroviruses and Opportunistic Infections, highlight the novel mechanism of action of the investigational prodrug BMS-663068, which when converted into its active moiety BMS-626529, is designed to bind directly to the HIV gp120 protein, and prevents initial viral attachment to the host CD4+ T cell and entry into the host immune cell.
February 24, 2015
17:33 EDTVMIValmont authorizes new share repurchase program
Valmont Industries announced that its board has authorized the additional repurchase of $250M of its common stock outstanding. As of February 24, the company had approximately $55M remaining under the $500M share repurchase authorization announced in May 2014. The purchases will be funded from available cash flows and cash balances and will be made subject to market and economic conditions. Shares repurchased will be available for general corporate purposes, including acquisitions.
07:46 EDTBMYJacobs Engineering awarded contract from Bristol-Myers
Jacobs Engineering Group (JEC) announced that it received a contract from Bristol-Myers Squibb Company (BMY) to provide architectural and engineering services for a new large-scale biologics manufacturing facility in Cruiserath, County Dublin, Ireland. The facility is being designed to produce multiple therapies for the company’s robust and growing portfolio of approved and investigational biologic medicines, and to increase Bristol-Myers Squibb’s biologics manufacturing capacity. The new facility is expected to include multiple large scale bioreactors, a purification area, as well as office and laboratory space. Bristol-Myers Squibb’s Board of Directors has approved initial funding that will support the first phase of the project, with the full cost of the facility expected to be finalized in the second half of 2015. The facility is estimated to be operational in 2019.
February 23, 2015
12:21 EDTBMYOn The Fly: Midday Wrap
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09:59 EDTIMSOn The Fly: Analyst Upgrade Summary
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08:15 EDTBMYRigel Pharmaceuticals and Bristol-Myers announces R&D collaboration agreement
Rigel Pharmaceuticals (RIGL) and Bristol-Myers (BMY) announced that they have entered into a collaboration agreement for the discovery, development and commercialization of cancer immunotherapies based on Rigel's extensive portfolio of small molecule TGF beta receptor kinase inhibitors. TGF beta can promote tumor growth, broadly suppress the immune system and increase the ability of tumors to spread in the body. The collaboration will focus on developing a new class of therapeutics aimed at increasing the immune system's activity against various cancers either as monotherapy or in combination with immune checkpoint inhibitors, including Bristol-Myers Squibb's Opdivo and Yervoy. Under the terms of the agreement, Bristol-Myers Squibb will obtain exclusive, worldwide rights to develop and commercialize small molecule therapeutics derived from Rigel's TGF beta library, including, but not limited to, those approved to treat cancer. Bristol-Myers Squibb will pay $30M upfront and Rigel will be eligible to receive development and regulatory milestones that could total more than $309M for a successful compound approved in multiple indications. Rigel will also be eligible to receive tiered royalties on the net sales of any products from the collaboration.
08:06 EDTBMYBristol-Myers, Rigel enter R&D agreement for TGF beta receptor kinase inhibitors
Rigel Pharmaceuticals (RIGL) and Bristol-Myers Squibb (BMY) announced that they have entered into a collaboration agreement for the discovery, development and commercialization of cancer immunotherapies based on Rigel’s extensive portfolio of small molecule TGF beta receptor kinase inhibitors. TGF beta can promote tumor growth, broadly suppress the immune system and increase the ability of tumors to spread in the body. The collaboration will focus on developing a new class of therapeutics aimed at increasing the immune system’s activity against various cancers either as monotherapy or in combination with immune checkpoint inhibitors, including Bristol-Myers Squibb’s Opdivo, or nivolumab, and Yervoy, or ipilimumab. Under the terms of the agreement, Bristol-Myers Squibb will obtain exclusive, worldwide rights to develop and commercialize small molecule therapeutics derived from Rigel’s TGF beta library, including, but not limited to, those approved to treat cancer. Bristol-Myers Squibb will pay $30M upfront and Rigel will be eligible to receive development and regulatory milestones that could total more than $309M for a successful compound approved in multiple indications. Rigel will also be eligible to receive tiered royalties on the net sales of any products from the collaboration.
08:01 EDTBMYBristol-Myers to acquire Flexus, potential total consideration may be $1.25B
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05:43 EDTIMSIMS Health upgraded to Overweight from Equal Weight at Barclays
Barclays upgraded IMS Health to Overweight citing improving fundamentals and its positive view of the Cegedim deal. The firm raised its price target for shares to $30 from $27.
February 20, 2015
07:23 EDTBMYAbbVie replaces Pfizer as top global pharma pick at Jefferies
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February 17, 2015
17:33 EDTVMIValmont anticipates difficult market environment to continue along FY15
"Looking forward to 2015, we anticipate a difficult market environment to continue," company said. "Results of the Irrigation Segment are expected to be negatively affected by lower commodity prices and large inventories of major crops such as corn and soybeans. The markets for our Engineered Infrastructure Products Segment are not expected to see meaningful improvement in public spending on infrastructure both in the U.S. and international markets. In the Utility Segment, the size of the market in North America should continue near current levels, but we will not experience the growth we have seen over the last number of years, and the pricing environment remains difficult. Our Coatings Segment should do well in our home market but face difficult markets internationally, particularly in Australia. We have a number of infrastructure businesses in Australia exposed to a weak economy there. Adding to our challenges, the significantly stronger U.S. Dollar will dampen export profitability from the U.S. and reduce foreign revenues and earnings when translated into U.S. dollars. In this environment, our focus will be on the quality of our earnings through operational excellence."
17:31 EDTVMIValmont reports Q4 adj. EPS $1.62, consensus $1.65
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15:32 EDTVMINotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Devon Energy (DVN), consensus $1.05... Vornado Realty (VNO), consensus $1.23... Analog Devices (ADI), consensus 61c... FirstEnergy (FE), consensus 75c... CF Industries (CF), consensus $5.08... Agilent Technologies (A), consensus 41c... Cimarex Energy (XEC), consensus 82c... Flowserve (FLS), consensus $1.13... Fossil (FOSL), consensus $3.07... Rackspace (RAX), consensus 19c... Norwegian Cruise Line (NCLH), consensus 37c... Jack in the Box (JACK), consensus 87c... Cloud Peak Energy (CLD), consensus 7c... La-Z-Boy (LZB), consensus 38c... KAR Auction Services (KAR), consensus 29c... Owens & Minor (OMI), consensus 50c... Valmont Industries (VMI), consensus $1.65... Realty Income (O), consensus 66c.

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