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News Breaks | | | | November 12, 2012 | | 12:08 EDT |  | DHI, NLY, JEF, CLVS, SHW, PCP, CXS, GILD, GSK, BZH, TIE, LUK, ACHN, SRPT | On The Fly: Midday Wrap
The averages were lower but not far from their starting point at midday amid light holiday trading volume. The market began the session slightly higher but was unable to gain upside momentum. The averages ultimately crossed into negative territory but have managed to stay in a narrow trading range and remain within striking distance of the flat line... ECONOMIC EVENTS: In the U.S., bond markets and banks are closed in observance of Veterans Day and no economic data was released. Over the weekend in Europe, Greece’s 2013 budget was approved but euro area finance ministers are unlikely to approve the next batch of loans to Greece at their meeting today, according to media reports. In Asia, China’s exports rose 11.6% in October, which was their fastest growth rate since May and exceeded forecasts. Elsewhere in the region, Japan's gross domestic product fell an annualized 3.5% in the three months through September and economists predict the nation’s economy will shrink again in the next quarter, leading to its third technical recession since 2008... COMPANY NEWS: Mergers dominated the domestic headlines, as Leucadia National (LUK) agreed to acquire the remaining 71.4% of Jefferies (JEF) it doesn’t own for about $3.7B, or $17.66 per share, in an all stock transaction. Annaly Capital Management (NLY) struck a deal to pay $12.50 per share for the remaining shares of CreXus (CXS). Also, after Friday's closing bell, Precision Castparts (PCP) announced a deal to buy Titanium Metals (TIE) for $16.50 per share, or $2.9B, a 43% premium to its closing price that day... Two homebuilders, D.R. Horton (DHI) and Beazer Homes (BZH), both declined following their quarterly reports. D.R. Horton's earnings beat consensus and its net sales orders climbed 24% but shares slid 3%. Beazer reported stronger than expected revenue but a wider than expected loss and its shares plunged 15%... MAJOR MOVERS: Among the notable gainers was Sherwin-Williams (SHW), which rose 6% following its agreement to buy privately held Comex for $2.34B to gain a bigger presence in Mexico. Also higher were shares of Sarepta Therapeutics (SRPT), which climbed over 13% after a JMP Securities analyst said a Duchenne muscular dystrophy treatment developed by GlaxoSmithKline (GSK) that will compete with Sarepta's eteplirsen is unlikely be approved until 2014 or 2015. Among the noteworthy losers were Clovis Oncology (CLVS), down more than 35% after a trial of one of its drugs failed to meet its primary or secondary endpoints, and Achillion Pharmaceuticals (ACHN), down almost 12% after its competitor Gilead (GILD) reported positive hepatitis C virus data... INDICES: Near noon, the Dow was down 22.64, or 0.18%, to 12,792.75; the Nasdaq was down 5.78, or 0.20%, to 2,899.09; and the S&P 500 was down 1.97, or 0.14%, to 1,377.88. | |
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News For JEF;LUK;CXS;NLY;TIE;PCP;DHI;BZH;SHW;SRPT;GSK;CLVS;ACHN;GILD From The Last 14 Days Check below for free stories on JEF;LUK;CXS;NLY;TIE;PCP;DHI;BZH;SHW;SRPT;GSK;CLVS;ACHN;GILD the last two weeks. |
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| May 16, 2013 | | 11:50 EDT |  | GILD | Celgene, Gilead lower after new data published at ASCO
 Subscribe for More Information | | | 10:30 EDT |  | ACHN | Achillion management to meet with Maxim
Subscribe for More Information | | | 10:03 EDT |  | BZH | On The Fly: Analyst Upgrade Summary
Subscribe for More Information | | | 09:35 EDT |  | PCP | Precision Castparts initiated with a Buy at Topeka
Target $255. | | | 07:39 EDT | | CLVS | Clovis Oncology says data to be presented at ASCO annual meeting
Clovis Oncology announced that three abstracts highlighting results from three Phase I studies of the company’s two lead compounds will be presented at the American Society of Clinical Oncology, ASCO, Annual Meeting 2013 in Chicago. Data contained in the published abstracts was current as of the submission deadline of February 5, 2013. Data to be presented in the poster sessions will include data from the trials as of early May, the company said. | | | 07:29 EDT | | SRPT | Leerink to host a bus tour
Boston Biopharma Bus Tour travels throughout Boston on May 16-17. | | | 06:43 EDT | | BZH | Beazer Homes upgraded to Buy from Fair Value at CRT Capital
Subscribe for More Information | | | May 15, 2013 | | 18:32 EDT | | GILD | Gilead announces response data from Phase 2 study of Idelalisib
Subscribe for More Information | | | 17:46 EDT | | SHW | SAC Capital gives quarterly update on stakes
NEW STAKES: Discovery (DISCA), Liberty Global (LBTYA), Liberty Media (LMCA), Norwegian Cruise Line (NCLH), and Cubist (CBST). INCREASED STAKES: Suncor (SU), EQT Corporation (EQT), Amazon.com (AMZN), Visa (V), and GNC Holdings (GNC). DECREASED STAKES: News Corp. (NWSA), Facebook (FB), Sherwin-Williams (SHW), and Avago (AVGO). LIQUIDATED STAKES: Coach (COH), Dover (DOV), and Virgin Media (VMED), . | | | 15:17 EDT |  | NLY | Annaly Capital volatility flat as shares trend to four-month low
Annaly Capital June call option implied volatility is at 18, July is at 17, October is at 19; compared to its 26-week average of 17 according to Track Data, suggesting non-directional near-term price movement. | | | | 15:15 EDT | | CLVS | Clovis Oncology lung cancer treatment designated for orphan drug status
Subscribe for More Information | | | 06:06 EDT | | ACHN | Achillion appoints Dr. David Apelian as Chief Medical Officer
Achillion (ACHN) appointed David Apelian, M.D., Ph.D., MBA, to the position of Executive VP and Chief Medical Officer, effective May 28. Dr. Apelian wll assume responsibility for the clinical development of Achillion's portfolio of compounds to treat HCV. In addition, Achillion also expanded its clinical operations group with the recent addition of Kevin Kucharski, formerly head of clinical operations at Pharmasset (VRUS), who will serve as Senior VP of Clinical Operations. | | | May 14, 2013 | | 07:24 EDT | | GSK | EBD Group to host a conference
BioTrinity 2013 is being held in Newbury, England on May 14-16. | | | 05:53 EDT | | NLY | Stocks with implied volatility movement; NLY WCRX
Subscribe for More Information | | | May 13, 2013 | | 16:25 EDT | | GSK | On The Fly: Closing Wrap
Stocks on Wall Street were little changed from their opening levels as investors weighed the potential end of the Fed's quantitative easing program against a better than expected report on retail sales. The Wall Street Journal's Jon Hilsenrath suggested in a report over the weekend that the Federal Reserve has mapped a QE exit strategy. The report paired with the retail sales data left the market lacking conviction in either direction today, as the averages spent the majority of the session range-bound near the flatline. ECONOMIC EVENTS: In the U.S., retail sales rose 0.1% in April, which beat expectations for a 0.3% decline. Retail sales excluding autos, gas, and building materials rose 0.6%, which was also better than expected. Business inventories were flat in March, versus expectations for a 0.3% gain. In Asia, Chinese factory output grew 9.3% annually in April, which was up from 8.9% in March but still missed expectations for a 9.5% growth rate. COMPANY NEWS: The Supreme Court ruled unanimously that Monsanto's (MON) patented genetically altered soybeans are protected and that farmers cannot use them to create new seeds without paying the company... Dell's (DELL) special committee publicly asked for more information from Carl Icahn and Southeastern Asset Management about their proposed leveraged recapitalization. This request follows television interviews by Icahn last Friday in which he discussed his Dell proposal, as well as a weekend report in Barron's saying the Icahn and Southeastern plan could be a better deal for shareholders. MAJOR MOVERS: Among the notable gainers was Theravance (THRX), up $6.26, or 17.92%, to $41.20 after Elan Corporation (ELN) bought a stake in the potential future royalty payments from four respiratory programs partnered with GlaxoSmithKline (GSK) in exchange for $1B in cash. Also higher was Tesla (TSLA), which rose $11.04, or 14.38%, to $87.80 in its third straight double-digit percentage gain following a better-than-expected earnings report last week. Among the noteworthy losers was Barnes & Noble (BKS), down $2.21, or 9.48%, to $21.10 after the blog InsiderMonkey disputed a previous report about Microsoft's (MSFT) interest in the bookseller's NOOK assets. Also lower was JoS. A. Bank (JOSB), down $3.31, or 7.16%, to $42.90 after the company's first quarter earnings view came in below expectations. INDICES: The Dow was down 26.81, or 0.18%, to 15,091.68; the Nasdaq was up 2.21, or 0.06%, to 3,438.79; and the S&P 500 was nearly unchanged at 1,633.77. | | | 12:20 EDT | | GSK | On The Fly: Midday Wrap
Subscribe for More Information | | | 09:39 EDT | | GILD | Active equity option families trading
Active equity option families trading on open according to Track Data: AAPL C TSLA LVS GILD FSLR | | | 05:44 EDT | | GSK | Elan provides additional information on Elan/Theravance agreement
Subscribe for More Information | | | 05:35 EDT | | GSK | Theravance, Elan enter into $1B royalty participation agreement
Subscribe for More Information | | | May 10, 2013 | | 12:42 EDT | | GSK | GlaxoSmithKline, Theravance confirm FDA approval of Breo Ellipta
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