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Stock Market & Financial Investment News

News Breaks
August 25, 2014
16:13 EDTCMTL, MRK, THI, ACHN, QIHU, ADXS, BKW, ITMN, GRUB, RHHBY, RCPTOn The Fly: Closing Wrap
Stocks began the session in positive territory and proceeded to tack on gains throughout the morning. Despite a disappointing report on new home sales in July, the S&P surpassed the 2,000 level for the first time before noon. The market pared its gains shortly after the milestone was reached and drifted for the remainder of the session on light volume, as trading activity may be restrained all week ahead of the Labor Day weekend. ECONOMIC EVENTS: In the U.S., the Chicago Fed's National Activity index jumped to 0.39 in July from an upwardly revised 0.21 in June. Markit's preliminary August services PMI came in at 58.5, which was down from a prior reading of 60.8 but above the 58.0 consensus projection. New home sales dropped 2.4% to a 412K rate in July, missing expectations for them to have risen to a 430K annualized rate. COMPANY NEWS: Shares of InterMune (ITMN) surged $19.05, or 35.41%, to $72.85 after the company agreed to be acquired by Roche (RHHBY) for $74.00 per share in an all-cash transaction. The deal announcement comes less than two weeks after Bloomberg reported that Roche, along with big pharma peers Sanofi (SNY) and GlaxoSmithKline (GSK), had made takeover bids for the smaller drugmaker. A number of other biotech companies gained following the deal announcement, including bigger names like Gilead (GILD) and Celgene (CELG) and smaller ones such as Achillion Pharmaceuticals (ACHN) and Receptos (RCPT)... Burger King (BKW) shares rose $5.29, or 19.51%, to $32.40 after the company confirmed it is in talks regarding a potential strategic transaction with Canadian donut chain Tim Hortons (THI). Shares of Tim Horton's trading in New York also gained $11.88, or 18.91%, to $74.72 following the confirmation of news first reported by The Wall Street Journal. MAJOR MOVERS: Among the other notable gainers was Advaxis (ADXS), which advanced 75c, or 23.08%, to $4.00 after announcing it has entered into a clinical trial collaboration agreement with Merck (MRK). Also rising were shares of Comtech (CMTL), which jumped $1.70, or 4.84%, to $36.81 after Reuters said the company is working with Citigroup to explore a potential sale. Among the noteworthy losers was Chinese internet and software company Qihoo 360 Technology (QIHU), which fell $7.88, or 7.74%, to $93.87 despite reporting second quarter earnings and revenue that beat analysts' estimates. Also lower were shares of GrubHub (GRUB), which fell $3.60, or 8.42%, to $39.16 after filing to sell 10M shares of common stock. INDEXES: The Dow gained 75.65, or 0.44%, to 17,076.87, the Nasdaq rose 18.80, or 0.41%, to 4,557.35, and the S&P 500 advanced 9.54, or 0.48%, to 1,997.94.
News For ITMN;ACHN;RCPT;BKW;THI;RHHBY;ADXS;MRK;GRUB;QIHU;CMTL From The Last 14 Days
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December 8, 2014
10:12 EDTCMTLComtech receives $7.4M in additional orders relating to satellite system project
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09:20 EDTADXSOn The Fly: Pre-market Movers
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08:32 EDTACHNTrout Group to hold events at ASH 2014
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08:30 EDTMRKMerck says deals with Cubist includes $250M break-up fee clause
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08:21 EDTMRKMerck says looked at all risks, including patent litgation, before Cubist deal
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08:11 EDTMRKCubist volatility elevated into Merck acquiring for $8.4B in cash
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08:08 EDTMRKMerck says about $9.5B of debt to be issued related to Cubist deal
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07:35 EDTADXS, MRKAdvaxis reports FDA acceptance of IND application for ADXS-PSA combination trial
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07:13 EDTMRKMerck to host conference call
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07:01 EDTMRKMerck to acquire Cubist for $102 per share in cash, or $9.5B
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07:00 EDTMRKMerck to acquire Cubist for $102 per share in cash
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06:47 EDTBKWBurger King coverage resumed with a Buy at Goldman
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06:12 EDTACHNStocks with implied volatility above IV index mean; LULU ACHN
Stocks with implied volatility above IV index mean; lululemon (LULU) 53, Achillion (ACHN) 216 according to iVolatility.
December 7, 2014
16:29 EDTMRKMerck in discussions to buy Cubist for $7B, Bloomberg reports
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12:58 EDTMRKMerck presents KEYTRUDA data at ASH
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December 5, 2014
11:33 EDTRHHBYGenentech to present clinical data at ASH
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10:06 EDTACHNAchillion management to meet with JMP Securities
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09:30 EDTBKWBurger King enters JV in Poland, Greece, Romania
Burger King Worldwide announced the establishment of Burger King SEE S.A. as a joint venture to aggressively expand the BURGER KING brand presence and business in Italy, Poland, Greece and Romania. Burger King SEE S.A., the joint venture, has signed a long-term master franchise and exclusive development agreement, which includes sub-franchise rights for all of these markets. While the BURGER KING brand currently operates in Italy, Poland and Romania, the joint venture's plans include aggressive development of BURGER KING restaurants across Southern and Eastern Europe and the creation of more than 10,000 new job opportunities within the first five to seven years of the venture.
08:15 EDTQIHUCapital Ventures International reports 6.6% passive stake in Qihoo 360
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05:48 EDTTHI, BKWCanada approves Burger King acquisition of Tim Hortons
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