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News Breaks
August 25, 2014
16:13 EDTITMN, QIHU, GRUB, MRK, ADXS, RHHBY, THI, BKW, RCPT, ACHN, CMTLOn 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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October 23, 2014
09:03 EDTGRUBGrubHub sees Q4 revenue $68.5M-$70.5M, consensus $66.68M
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09:03 EDTGRUBGrubHub reports Q3 non-GAAP adjusted EBITDA $20.4M
Active Diners were 4.57 million, a 50% increase from 3.05 million Active Diners in the third quarter of 2013. Daily Average Grubs were 172,700, a 33% year-over-year increase from 129,800 Daily Average Grubs in the third quarter of 2013. Gross Food Sales were $424 million, a 37% year-over-year increase from $309 million processed in the third quarter of 2013.
09:02 EDTGRUBGrubHub reports Q3 EPS 8c, consensus 6c
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07:06 EDTADXSAdvaxis initiated with a Buy at H.C. Wainwright
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October 22, 2014
10:09 EDTGRUBOn The Fly: Analyst Initiation Summary
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07:35 EDTMRKCardiometabolic Health Congress to hold annual meeting
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October 21, 2014
17:43 EDTGRUBGrubHub initiated with a Hold at Brean Capital
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13:00 EDTCMTLComtech awarded $2.3M advanced VSAT and Premium Services Order in Asia
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07:15 EDTRHHBYFDA to hold workshop on breast cancer drug development
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October 20, 2014
13:40 EDTBKWOptions with increasing implied volatility
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12:37 EDTRHHBYOn The Fly: Midday Wrap
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08:06 EDTMRKMerck, Sanofi unit announce pediatric hexavalent vaccine BLA
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07:34 EDTADXS, MRKAdvaxis names Mauro Chief Medical Officer
Advaxis (ADXS) announced that it has appointed David Mauro, as executive vice president, Chief Medical Officer Mauro most recently served as executive director, section head oncology clinical development at Merck (MRK). In connection with his appointment, Mauro received a one-time inducement award of 165K restricted shares, of which 55K are fully vested and as of the grant date. The remaining shares vest annually over a two-year period.
07:19 EDTMRK, RHHBYIBC Life Sciences to hold a conference
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07:11 EDTMRK, RHHBYAmerican Society for Reproductive Medicine to hold annual meeting
2014 Annual Meeting of ASRM is being held in Honolulu on October 18-22.
07:10 EDTRHHBYAmerican Society of Human Genetics to hold annual meeting
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07:06 EDTRHHBYNewLink announces worldwide license agreement for NLG919 development
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07:04 EDTRHHBYRoche approval would be positive for TESARO, says Jefferies
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October 17, 2014
10:51 EDTBKWOptions with increasing implied volatility
Options with increasing implied volatility: COV DISH HLT QEP GREK BKW BYI LLY DTV TIBX
07:58 EDTMRKDeutsche Bank specialty pharma analyst holds analyst/industry conference call
Specialty Pharmaceuticals Analyst Gilbert provides of preview of The Improved Reduction of Outcomes: Vytorin Efficacy Internal Study (IMPROVE-IT) on an Analyst/Industry conference call to be held on October 17 at 10 am.
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