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Stock Market & Financial Investment News

News Breaks
November 12, 2012
12:08 EDTJEF, ACHN, CLVS, GSK, SRPT, SHW, BZH, DHI, PCP, TIE, NLY, CXS, LUK, GILDOn 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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August 14, 2014
16:01 EDTGILDOptions Update; August 14, 2014
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August 13, 2014
17:54 EDTPCPPrecision Castparts approves $1B expansion to existing share repurchase program
The board of Precision Castparts has approved a $1B expansion to the company's existing share repurchase program, effective immediately and continuing through September 30, 2016. As of August 12, the company had used $1.24B of the $1.5B authorized previously.
16:19 EDTGSKOn The Fly: Closing Wrap
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13:13 EDTGSKInterMune exploring sale after bids from Sanofi, Roche, Glaxo, Bloomberg says
InterMune (ITMN) is working with its financial advisers Goldman Sachs (GS) and Centerview Partners to evaluate takeover bids it has received from Sanofi (SNY), Roche (RHHBY), GlaxoSmithKline (GSK) and Actelion (ALIOF), said Bloomberg, citing people with knowledge of the matter. The report noted that one of the sources said Sanofi has so far shown the most interest in a deal for InterMune, whose shares are up more than 13% to $51.56 following the first headlines from the report. Reference Link
09:37 EDTGILDActive equity options trading on open
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August 12, 2014
09:20 EDTDHID.R. Horton 13.35M share Block Trade priced at $20.25
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07:15 EDTGSKWHO says ethical to offer unproven interventions in light of Ebola outbreak
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06:18 EDTGSKGSK CEO faces pressure as company deals with weak sales, allegations, WSJ says
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August 11, 2014
12:57 EDTGSKGlaxoSmithKline facing new bribery allegations in Syria, Reuters reports
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10:19 EDTACHNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Achillion (ACHN) upgraded to Outperform from Market Perform at Wells Fargo... Alon USA Partners (ALDW) upgraded to Outperform from Neutral at Credit Suisse... Buenaventura (BVN) upgraded to Buy from Underperform at BofA/Merrill... CNO Financial (CNO) upgraded to Overweight from Equal Weight at Morgan Stanley... Central European Media (CETV) upgraded to Neutral from Sell at Goldman... Cepheid (CPHD) upgraded to Neutral from Cautious at ISI Group... Chuy's (CHUY) upgraded to Outperform from Market Perform at Raymond James... Compressco (GSJK) upgraded to Strong Buy from Market Perform at Raymond James... Concho Resources (CXO) upgraded to Overweight from Equal Weight at Stephens... Frank's International (FI) upgraded to Neutral from Sell at Goldman... Freeport McMoRan (FCX) upgraded to Buy from Hold at Argus... GNC Holdings (GNC) upgraded to Outperform from Neutral at Credit Suisse... Genworth (GNW) upgraded to Equal Weight from Underweight at Morgan Stanley... Gulfport Energy (GPOR) upgraded at Stifel... Huntington Ingalls (HII) upgraded to Buy from Neutral at UBS... Hyatt Hotels (H) upgraded at Stifel... J.C. Penney (JCP) upgraded to Hold from Sell at Craig-Hallum... Kinder Morgan (KMI) upgraded to Buy from Neutral at BofA/Merrill... Krispy Kreme (KKD) upgraded to Outperform from Neutral at Wedbush... Oasis Petroleum (OAS) upgraded to Buy from Neutral at Sterne Agee... PepsiCo (PEP) upgraded to Buy from Neutral at UBS... Regency Centers (REG) upgraded to Neutral from Underperform at BofA/Merrill... SandRidge Energy (SD) upgraded to Reduce from Sell at KLR Group... Southwest Gas (SWX) upgraded to Buy from Hold at Brean Capital... Tesla (TSLA) upgraded to Buy from Hold at Deutsche Bank.
09:36 EDTGILDActive equity options trading on open
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09:06 EDTACHNOn The Fly: Pre-market Movers
HIGHER: PharmAthene (PIP), up 55% after announcing that a Delaware court awarded the company lump sum expectation damages for the value of its lost profits for SIGA Technologies' (SIGA) smallpox antiviral, Tecovirimat... MannKind (MNKD), up 19% after entering exclusive licensing agreement for development and commercialization of Afrezza inhaled insulin with Sanofi (SNY)... Kinder Morgan (KMI), up 19% after announcing it will acquire all of the outstanding equity securities of Kinder Morgan Energy Partners (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB)... Tesla (TSLA), up 2.7% following upgrade at Deutsche Bank... Achillion (ACHN), up 6% following upgrades at Wells Fargo and at Piper Jaffray... PepsiCo (PEP), up 0.9% following upgrade at UBS. LOWER: Dean Foods (DF), down 8.6% after reporting Q2 losses that were steeper than expected, saying balance of year "appears rocky," which makes it difficult to provide guidance beyond the immediate quarter... Priceline (PCLN), down 0.7% after reporting Q2 revenue that missed expectations, guiding Q3 EPS below consensus... SIGA Technologies, down 31% after ruling in suit with PharmAthene... 2U (TWOU), down 4.3% after downgraded at Goldman.
08:47 EDTGSKGlaxo to conduct Ebola vaccine trials later this year, Guardian says
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07:29 EDTGILDGilead price target raised to $110 from $90 at Argus
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05:48 EDTACHNAchillion upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo upgraded Achillion to Outperform citing the potential for multiple near-term catalysts around the company's hepatitis C portfolio. Wells raised its price target range for shares to $11-$13 from $7-$8. Achillion was also upgraded this morning at Piper Jaffray.
05:29 EDTACHNAchillion upgraded to Overweight from Neutral at Piper Jaffray
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August 8, 2014
09:03 EDTGSKGlaxoSmithKline weakness creates buying opportunity, says Argus
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06:44 EDTCLVSClovis October volatility elevated into updates
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06:39 EDTCLVSClovis price target raised to $100 from $87 at Piper Jaffray
Piper Jaffray raised its price target for Clovis shares to $100 saying the company's clinical development programs are progressing well, with strong enrollment indicated for rociletinib and rucaparib trials. Piper reiterates an Overweight rating on the stock.
06:18 EDTGSKRoyal Bank of Scotland's Hampton leads race to become new GSK chair, FT reports
Royal Bank of Scotland (RBS) Chairman Philip Hampton is the frontrunner to succeed Christopher Gent as chairman of GlaxoSmithKline (GSK), the Financial Times reports, citing sources. Gent will step down from his role at GSK next year. Hampton is not expected to step down from RBS until after May's general election, the sources say. Reference Link
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