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Stock Market & Financial Investment News

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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September 15, 2014
07:48 EDTRCPTReceptos price target raised to $75 from $58 at Credit Suisse
Credit Suisse raised Receptos' price target to $75 citing increased clarity on RPC1063's potential differentiated profile following presentation of further RADIANCE Ph II data. Share are Outperform rated.
September 12, 2014
09:33 EDTQIHUQihoo 360 management to meet with JPMorgan
Meeting to be held in Boston on September 17 hosted by JPMorgan.
09:21 EDTBKWBlackstone to sell 260 Burger King locations, Bloomberg says
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06:00 EDTACHNStocks with implied volatility above IV index mean; DISH ACHN
Stocks with implied volatility top IV index mean; DISH (DISH) 31, Achillion (ACHN) 128 according to iVolatility.
September 11, 2014
10:01 EDTCMTLComtech awarded $1.2M in equipment orders
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10:00 EDTGRUBOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Airgas (ARG) initiated with a Neutral at Northcoast... CBOE Holdings (CBOE) initiated with a Buy at Deutsche Bank... CME Group (CME) initiated with a Buy at Deutsche Bank... Colfax (CFX) initiated with a Neutral at Northcoast... Corporate Office Properties (OFC) initiated with an Overweight at Capital One... Edwards Lifesciences (EW) initiated with a Buy at Sterne Agee... Energen (EGN) initiated with a Buy at Deutsche Bank... Goodrich Petroleum (GDP) initiated with an Outperform at Cowen... GreenHunter Resources (GRH) initiated with a Hold at Stifel... GrubHub (GRUB) initiated with a Market Perform at Barrington... Illinois Tool Works (ITW) initiated with a Neutral at Northcoast... IntercontinentalExchange (ICE) initiated with a Hold at Deutsche Bank... JD.com (JD) initiated with a Buy at Brean Capital... Lincoln Electric (LECO) initiated with a Buy at Northcoast... Live Nation (LYV) initiated with a Buy at Jefferies... Medtronic (MDT) initiated with a Neutral at Sterne Agee... Midstates Petroleum (MPO) initiated with a Market Perform at Cowen... NASDAQ (NDAQ) initiated with a Hold at Deutsche Bank... Newfield Exploration (NFX) initiated with an Outperform at Iberia... Newpark Resources (NR) initiated with an Outperform at Credit Suisse... Nuverra Environmental (NES) initiated with a Buy at Stifel... Palo Alto (PANW) initiated with a Buy at Roth Capital... Petrobras (PBR) initiated with an Outperform at Cowen... RSP Permian (RSPP) initiated with a Hold at Deutsche Bank... Sensata (ST) initiated with an Equal Weight at Morgan Stanley... Stage Stores (SSI) initiated with a Neutral at Credit Suisse... Synergy Resources (SYRG) initiated with an Outperform at Cowen... TE Connectivity (TEL) initiated with an Overweight at Morgan Stanley... Twitter (TWTR) initiated with a Buy at Canaccord... Walter Investment (WAC) initiated with an Underweight at Barclays... Washington REIT (WRE) initiated with an Equalweight at Capital One... Yandex (YNDX) initiated with a Buy at Canaccord... Yara International (YARIY) initiated with a Neutral at Credit Suisse.
08:09 EDTGRUBGrubHub initiated with a Market Perform at Barrington
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08:09 EDTTHI, BKWBerkshire's Munger defends Burger King deal, WSJ reports
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08:03 EDTTHI, BKWSenators urge Burger King to stay domiciled in U.S., Reuters reports
The number 2 ranking Senate Democrat, Dick Durbin, and four fellow senators have urged Burger King (BKW) to keep its domicile in the U.S. and give up plans for a "tax inversion" as part of its purchase of Canada's Tim Hortons (THI), reported Reuters. Reference Link
September 10, 2014
16:19 EDTRCPTOn The Fly: Closing Wrap
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16:00 EDTMRKOptions Update; September 10, 2014
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15:05 EDTRCPTReceptos surges after abstracts for RADIANCE trial posted
Shares of drugmaker Receptos (RCPT) are sharply higher after an abstract for the company's Phase 2 portion of its RADIANCE trial of RPC1063 in Relapsing Multiple Sclerosis, or RMS, were posted to the site of the European Committee for Treatment and Research in Multiple Sclerosis, or ECTRIMS. WHAT'S NEW: This morning, Receptos announced that data from the Phase 2 portion of RADIANCE, the company's Phase 2/3 trial of RPC1063 in RMS, will be reviewed in a late breaker oral podium presentation at MS Boston on September 13. MS Boston is a joint meeting of ECTRIMS and ACTRIMS, which is the U.S. and Canadian counterpart to ECTRIMS. ANALYST REACTION: Analysts at BMO Capital said the RADIANCE data confirm differentiation of the drug. The firm has an Outperform rating and $72 price target on the stock. Meanwhile, Leerink said that the full RADIANCE data shows a 53% annualized relapse reduction and supports a "highly differentiated safety profile" for the drug. Leerink has an Outperform rating and $60 price target on shares of Receptos. PRICE ACTION: In late afternoon trading, shares of Receptos were up $11.29, or 24%, to $58.34.
13:04 EDTRHHBYRoche unit receives orphan status for lung cancer mutation drug
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12:50 EDTRCPTReceptos to host conference call
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05:58 EDTACHNStocks with implied volatility above IV index mean; DISH ACHN
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September 9, 2014
07:43 EDTADXSAdvaxis provides clinical development updatefor ADXS-HPV
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06:03 EDTACHNStocks with implied volatility above IV index mean; DISH ACHN
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September 8, 2014
16:00 EDTMRKOptions Update; September 8, 2014
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09:27 EDTRCPTLeerink biotech analyst holds a luncheon meeting with a conference call
Biotech Analyst Schwartz provides an update on key trends and controversies for marketed MS therapies and discusses new data presented at ACTRIMS-ECTRIMS at a Luncheon Meeting with an Analyst/Industry conference call to be held in Boston on September 11 at 12:15 pm.
07:15 EDTRHHBYIBC Life Sciences to hold a conference
10th Annual Cell Line Development & Engineering Conference to be held in Berkeley, California on September 8-10.
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