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Stock Market & Financial Investment News

News Breaks
January 9, 2013
12:36 EDTAGN, IPXL, JNS, AMJ, SIGHigh option volume; IPXL SIG JNS AGN AMJ
News For IPXL;SIG;JNS;AGN;AMJ From The Last 14 Days
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September 2, 2015
07:17 EDTAGNAllergan announces FDA approval of updated label for TEFLARO
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07:09 EDTAGNAllergan announces topline results from RECAPTURE 1 and 2
Allergan announced positive topline results from RECAPTURE 1 and 2, the pivotal Phase III studies evaluating the antibiotic AVYCAZ as a treatment for adult hospitalized patients with complicated urinary tract infections, including pyelonephritis. AVYCAZ consists of a cephalosporin, ceftazidime, an established treatment for serious bacterial infections, and the first and only non-beta lactam beta-lactamase inhibitor, avibactam. The addition of avibactam protects ceftazidime from being broken down by certain beta-lactamases that are produced by these resistant bacteria. The global RECAPTURE 1 and 2 Phase III studies evaluated the safety and efficacy of AVYCAZ administered intravenously as a two-hour infusion, compared to doripenem, administered intravenously as a 30-minute infusion, in hospitalized adult patients with cUTI, including pyelonephritis. Data from the studies were analysed as a single-pooled dataset with the agreement of the US FDA and the EMA. AVYCAZ was also effective in treating cUTI patients infected with ceftazidime-resistant bacteria. Allergan plans to submit this data as a supplemental New Drug Application (sNDA) to the Food and Drug Administration by the end of 2015.
August 31, 2015
08:04 EDTAGNAllergan completes Nuarex acquisition
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07:39 EDTAGNCiti calls Allergan a 'stock to own,' keeps $360 target
Citi analyst Liav Abraham calls Allergan a "stock to own" given its "attractive" organic growth profile, pipeline potential and ability to do more acquisitions. He reiterates a Buy rating on the stock with a $360 price target.
August 28, 2015
09:50 EDTAGNAllergan plans for generic version of Endo's Fortesta blocked, Bloomberg reports
A judge upheld Endo's (ENDP) patents on Fortesta expiring in 2018 and blocked Allergan's (AGN) bid to launch a generic version of the testosterone gel, according to Bloomberg.
08:25 EDTSIGSignet Jewelers valuation compelling, says Goldman
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August 27, 2015
16:28 EDTSIGOn The Fly: Top stock stories for Thursday
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12:41 EDTSIGOn The Fly: Top stock stories at midday
Stocks began the session sharply higher, extending the rally that started yesterday. A number of factors may be contributors to today's strength, including China's government intervening in its market last night and pushing its key stock index up 5%, dovish comments made by N.Y. Fed President Bill Dudley yesterday regarding the potential for a September interest rate hike and an upward revision in the estimate of second quarter GDP growth. ECONOMIC EVENTS: In the U.S., the updated estimate of GDP growth showed the economy grew 3.7% in the second quarter, topping expectations for annualized growth to be revised up to 3.2% from the prior estimate of 2.3%. Personal consumption in the quarter rose 3.1%, matching expectations. 271,000 initial jobless claims were filed last week, versus expectations for 274,000 first-time claims. The NAR pending home sales index rose 0.5% in July, missing the expectation for an increase of 1%. In China, the Shanghai composite index rose 5.3%, stemming its recent string of down days, with media reports indicating that the government may have played a role by stepping in to buy stocks. COMPANY NEWS: Shares of St. Jude Medical (STJ) advanced 4.5% after the Financial Times reported, citing sources, that Abbott (ABT) is prepping a takeover offer that would value the medical device maker at $25B. An Abbott spokesperson, however, issued statements to Bloomberg, CNBC and the Wall Street Journal following the report to deny that it is pursuing a bid for St. Jude, which struck a deal in July to acquire fellow medical device manufacturer Thoratec (THOR) for $63.50 per share in cash, or $3.4B, net of cash acquired. Thoratec shares slid 0.5% near noon following the report, as investors may be concerned that the previously announced deal could be jeopardized if Abbott does in fact step in to the situation... Shares of Freeport-McMoRan (FCX) surged 28% this morning after the miner and oil explorer announced plans to cut spending and production, including plans to cut about 10% of employees and contractors at its U.S. mining operations. Freeport has lowered its 2016 capital expenditure budget to $4B, or approximately 29% lower than the $5.6B estimate it issued on July 23, which it said reflects "aggressive" actions in response to current market conditions. MAJOR MOVERS: Among the notable gainers was Movado (MOV), which gained 20% after the company reported better than expected second quarter results and backed its fiscal year earnings view. Also higher following its earnings report was Signet Jewelers (SIG), whose shares rose 13%. Another jeweler reporting earnings this morning, Tiffany (TIF), which slid 3% after the company lowered its fiscal year outlook. Among the other noteworthy losers following their earnings reports were Williams-Sonoma (WSM), which dropped 7%, and Dollar General (DG), which slipped 4%. INDEXES: Near midday, the Dow was up 311.33, or 1.91%, to 16,596.84, the Nasdaq was up 109.30, or 2.33%, to 4,806.83, and the S&P 500 was up 42.77, or 2.2%, to 1,983.28.
09:26 EDTSIGOn The Fly: Pre-market Movers
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08:40 EDTSIGNomura says to buy Signet Jewelers
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07:10 EDTSIGSignet Jewelers says integration of Zale 'continues to go well'
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07:09 EDTSIGSignet Jewelers reports Q2 adjusted EPS $1.28, consensus $1.15
Reports Q2 revenue $1.41B, consensus $1.38B. Reports Q2 SSS up 4.2%.
August 26, 2015
15:00 EDTSIGNotable 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.
07:39 EDTJNSPiper Jaffray lowers estimates for asset managers below consensus
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August 25, 2015
08:14 EDTAGNAllergan multiple is low, says Leerink
Leerink predicts that Allergan's 2016 EPS will come in at $17-$18. The firm thinks the company has "durable revenue streams," and a "deep pipeline with several potential blockbuster candidates." Leerink adds that the company "has significant capacity for M&A." It keeps a $388 price target and Outperform rating on the shares.
August 24, 2015
08:37 EDTAGNAllergan recalls certain lots of REFRESH, FML, Blephamide treatments
Allergan announced that it is conducting a voluntary recall down to consumer level of specific lots of its REFRESH Lacri-Lube 3.5g and 7g for dry eye, REFRESH P.M. 3.5g for dry eye, FML 0.1%, and Blephamide 10%/0.2% sterile topical ophthalmic ointment combining an antibacterial and a corticosteroid, 3.5g. Allergan chose to initiate this recall based on a small number of customer complaints which reported a small black particle at the time of use. Allergan has informed the U.S. Food and Drug Administration of this voluntary recall. Allergan is contacting retailers and wholesalers who have been shipped affected product lots to initiate the recall and is informing them of the steps needed to return affected product.
August 20, 2015
10:00 EDTSIGOn The Fly: Analyst Upgrade Summary
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08:16 EDTAGNAllergan's Botox resubmission for lower limb spasticiy accepted by FDA
Allergan 's resubmission of its Supplemental Biologics License Application for Botox for the treatment of adults with lower limb spasticity in adults has been accepted by the FDA. A six-month review period has been assigned for the sBLA. The Prescription Drug User Fee Act date is expected to be in 1Q16. The resubmission provides additional data from a double-blind, placebo controlled study involving 468 patients with lower limb spasticity. The FDA also approved an increase to the maximum Botox cumulative dose within three months from 360 to 400 units in adults treated for one or more indications.
07:50 EDTSIGSignet Jewelers upgraded to Buy from Neutral at UBS (yesterday)
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