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Stock Market & Financial Investment News

News Breaks
November 12, 2012
12:08 EDTACHN, SRPT, DHI, NLY, JEF, CLVS, SHW, PCP, CXS, GILD, GSK, BZH, TIE, LUKOn 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.
News For JEF;LUK;CXS;NLY;TIE;PCP;DHI;BZH;SHW;SRPT;GSK;CLVS;ACHN;GILD From The Last 14 Days
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July 27, 2015
08:42 EDTGILDGilead July weekly volatility increases into Q2 and outlook
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08:03 EDTGSKNephroGenex names Jaikrishna Patel as Chief Medical Officer
NephroGenex (NRX) announced the appointment of Dr. Jaikrishna Patel to the position of Chief Medical Officer. Dr. Patel will help guide the company’s Phase 3 PIONEER program with oral Pyridorin for the treatment of diabetic nephropathy, and the development of an intravenous formulation of Pyridorin for acute kidney injury. Patel has held numerous positions of increasing responsibility at GlaxoSmithKline (GSK) and its predecessor companies, most recently serving as Vice President of Cardiovascular and Cardiovascular Metabolism, Global Regulatory Affairs.
07:08 EDTPCPPrecision Castparts acquires Noranco for $560M
Precision Castparts has agreed to acquire Noranco from MidOcean Partners and PSP Investments for $560M. Noranco is a premier supplier of complex machined and fabricated components for aero-engine, landing gear and airframe applications. Noranco provides significant value to aerospace customers through a wide range of sophisticated capabilities including high precision machining and sheet metal fabrication, processing, assembly and testing. As a key supplier to the leading aerospace OEM and Tier 1 manufactures, Noranco has established a balanced customer base – its largest customers are Honeywell, UTAS, Safran, Bombardier, and Spirit. The company has strong content positions on the next generation commercial platforms including 737, 787, 777, A350, and A320. Noranco employs 1,100 employees across 8 manufacturing sites in North America. The cash acquisition will be immediately accretive to earnings. Subject to regulatory approvals, the transaction is expected to be mpleted during Q3 of FY16, after which its results will be reported as part of the Airframe Products segment.
05:56 EDTGILDStocks with implied volatility movement; CRM GILD
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July 24, 2015
06:27 EDTGILDGilead price target raised to $131 from $120 at Piper Jaffray
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05:04 EDTGSKAgenus reports GSK Malaria vaccine receives positive opinion from CHMP of EMA
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July 23, 2015
12:45 EDTGILDGilead July weekly volatility elevated into Q2 and outlook
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July 22, 2015
17:06 EDTSRPTSarepta announce publication of Phase I clinical data of AVI-7288
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14:37 EDTSHWHome improvement stocks rally after Owens Corning results, home sales data
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July 21, 2015
14:12 EDTGILDGilead reports study of E/C/F/TAF met primary endpoint
Gilead Sciences announced detailed 48-week data from an open-label Phase 3 study evaluating its investigational once-daily single tablet regimen of elvitegravir 150 mg, cobicistat 150 mg, emtricitabine 200 mg and tenofovir alafenamide 10 mg, or E/C/F/TAF, among 1,436 virologically suppressed adult patients switching from tenofovir disoproxil fumarate-containing regimens. The study met its primary endpoint by demonstrating non-inferiority of E/C/F/TAF to the TDF-based regimens at Week 48. The study also demonstrated statistical superiority among patients with HIV-1 RNA levels less than 50 copies/mL at Week 48 and statistically significant improvements in bone and renal laboratory parameters. These data were presented in an oral session at the 8th IAS Conference on HIV Pathogenesis, Treatment & Prevention in Vancouver, Canada. Among the 1,436 patients who were randomized in the study, virologic success rates at Week 48 were higher in patients taking E/C/F/TAF, 97% versus 93% for all TDF-based regimens; difference in percentages: 4.1%, 95% CI: 1.6% to 6.7%. The rates of virologic failure were similar between the two arms, with E/C/F/TAF, 1.0% and TDF-based regimen, 1.3%. General safety was similar between the two arms through 48 weeks of treatment, with similar percentages of patients in each group having any adverse events. Adverse events leading to treatment discontinuation were more common among patients treated with a TDF-based regimen.
10:01 EDTSHWOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ASML (ASML) upgraded to Accumulate from Neutral at SNS Securities... Anacor (ANAC) upgraded to Buy from Neutral at Goldman... Artisan Partners (APAM) upgraded to Outperform from Neutral at Credit Suisse... Canadian National (CNI) upgraded to Buy from Hold at Canaccord... General Mills (GIS) upgraded to Outperform from Sector Perform at RBC Capital... Halliburton (HAL) upgraded to Accumulate from Neutral at Global Hunter... Harte-Hanks (HHS) upgraded to Outperform from Market Perform at BMO Capital... MDC Partners (MDCA) upgraded to Overweight from Neutral at Piper Jaffray... SABMiller (SBMRY) upgraded to Buy from Neutral at Nomura... Sanmina (SANM) upgraded to Neutral from Underperform at Longbow... Santander Mexico (BSMX) upgraded to Neutral from Sell at Goldman... Sherwin-Williams (SHW) upgraded to Buy from Neutral at Northcoast... Southwestern Energy (SWN) upgraded to Buy from Neutral at Global Hunter... Verisk Analytics (VRSK) assumed with an Outperform at Keefe Bruyette.
08:46 EDTSHWSherwin-Williams upgraded to Buy from Neutral at Northcoast
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08:26 EDTNLYFBR expects negative reaction to Annaly CEO change
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July 20, 2015
16:09 EDTNLYAnnaly Capital names Kevin Keyes as CEO, effective September 30
Annaly Capital Management announced that its Board of Directors has appointed Kevin Keyes as its CEO. Keyes will also retain the title of President. Wellington Denahan, Annaly’s co-founder, Chairman and CEO, will remain Chairman of the Board of Directors and will also serve as Executive Chairman of the company focusing on strategic and capital allocation decisions.
14:32 EDTSRPTFDA panel likely to review Sarepta, BioMarin drugs in November, TheStreet says
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11:03 EDTSRPTSarepta rises after Roth says added data can keep it ahead of BioMarin
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10:13 EDTSRPTOptions with decreasing implied volatility
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10:00 EDTCLVSOn The Fly: Analyst Upgrade Summary
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07:33 EDTGILDInternational AIDS Society to hold a conference
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06:52 EDTCLVSClovis upgraded to Conviction Buy from Buy at Goldman
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