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Stock Market & Financial Investment News

News Breaks
November 12, 2012
16:21 EDTJEF, JCP, GSK, SRPT, GILD, UNH, TRV, NYX, PCP, TIE, LUK, CLVSOn The Fly: Closing Wrap
Stocks on Wall Street finished virtually unchanged as the holiday held trading volumes down. With bond markets and banks being closed for Veterans Day the averages stayed within a narrow range on either side of the flat line... ECONOMIC EVENTS: In the U.S. no economic data was released. In Asia, Chinaís exports rose 11.6% in October, topping forecasts. However, Japan's gross domestic product fell an annualized 3.5% in the three months through September and economists predict the nationís economy will shrink again in the next quarter, meaning it will have moved into recession... COMPANY NEWS: Leucadia National (LUK) agreed to acquire the remaining 71.4% of Jefferies (JEF) it doesn't own for $17.66 per share in an all stock transaction and shares of Jefferies rose $2.00, or 14.02%, to $16.27. 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. Shares of Titanium Metals closed up $4.93, or 42.61%, to $16.50 and shares of Precision Castparts also advanced $8.36, or 4.88%, to $179.69... The NYSE (NYX) said that it is continuing to investigate issues that affected trading in 216 symbols. Affected symbols included Dow members Travelers (TRV) and United Health Care (UNH)... MAJOR MOVERS: Among the notable gainers was Gilead (GILD), up $8.91, or 13.71%, to $73.92 after the company reported that it did not detect hepatitis C virus, or HCV, in the RNA of 25 HCV patients four weeks after they were treated with the company's investigational drug. Also higher were shares of Sarepta Therapeutics (SRPT), up $4.38, or 19.25%, to $27.13 after a JMP Securities analyst said a Duchenne muscular dystrophy treatment developed by GlaxoSmithKline (GSK) that will compete with Sarepta's drug is unlikely be approved until 2014 or 2015. Among stocks trading lower was J.C. Penney (JCP), down $2.67, or 12.94%, to $17.97 as the stock continued its downtrend after last week's earnings miss and was downgraded to Underperform from Neutral at Credit Suisse. Also lower were shares of Clovis Oncology (CLVS), down $8.99, or 41.83%, to $12.50 after the company reported negative results from a cancer drug trial and said it would suspend all development of the drug pending further evaluation of the data... INDICES: The Dow gained 1.31, or 0.01%, to 12,816.70; the Nasdaq fell 0.61, or 0.02%, to 2,904.26; and the S&P 500 added 0.15, or 0.01%, to 1,380.00.
News For JEF;LUK;TIE;PCP;NYX;TRV;UNH;GILD;SRPT;GSK;JCP;CLVS From The Last 14 Days
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October 8, 2014
11:22 EDTSRPTChimerix falls after Ebola patient taking experimental drug dies
Shares of Chimerix (CMRX) are moving lower after the Texas Health Presbyterian Hospital Dallas announced that Thomas Eric Duncan succumbed to Ebola. Duncan was being treated with Chimerix's experimental drug Brincidofovir. Shares of Chimerix dropped 9% following the news to $30.19. Other makers of experimental Ebola treatments include Tekmira (TKMR), Sarepta (SRPT) and BioCryst (BCRX).
11:10 EDTJCPOptions with increasing implied volatility
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11:10 EDTJCPJ.C. Penney says succession planning remains 'top priority'
Sees SG&A dollars "roughly flat" over next three years. Sees CapEx averaging $250M-$300M per year.
11:06 EDTJCPJ.C. Penney says expects to be free cash flow positive in FY14
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11:05 EDTJCPJ.C. Penney falls 6%, halted for circuit-breaker after providing guidance
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11:03 EDTJCPJ.C. Penney now sees Q3 SSS up low single digits vs. previous guidance
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11:01 EDTJCPJ.C. Penney says has seen slow down in sales in September
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11:00 EDTJCPJ.C. Penney reaffirms all FY guidance metrics
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10:59 EDTJCPJ.C. Penney sees $14.5B in total sales by 2017
CFO Ed Record says focused on restoring profitability. Says since 4Q13, has had three straight quarters of sales growth. Sees opportunities to improve SG&A and gross margin. Sees $3.5B sales growth opportunity over next three years: Sees continued share growth a $1M opportunity over three years, center core a $1M opportunity, home store a $750M opportunity, omnichannel a $800M opportunity. Sees $1.2B EBITDA growth opportunity over next three years. Sees sales growth in mid single digits through 2017. Free cash flow over next three years "at least" $600M. Comments made at J.C. Penney's Analyst Day.
10:33 EDTJCPJ.C. Penney says seeing "significant" shift to mobile
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10:25 EDTJCPJ.C. Penney says home is $750M growth opportunity
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09:20 EDTJCPJ.C. Penney says will expand Disney stops in stores to 680 from 500
09:20 EDTJCPJ.C. Penney CEOsays will open more Sephora shops in store
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09:20 EDTJCPOn The Fly: Pre-market Movers
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08:18 EDTJCPJ.C. Penney CEO Ullman says customers remain cautious
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07:18 EDTGILDInfectious Diseases Society of America to hold a conference
ID Week 2014 is being held in Philadelphia on October 8-12.
06:11 EDTGSKNovartis says expects three executive committee members to leave
Novartis (NVS) confirmed that following completion of the transactions with GlaxoSmithKline (GSK) and Eli Lilly and Company (LLY) in the coming months, that the three business leaders of the Novartis divisions at the center of the transaction will leave the Executive Committee of Novartis. The expected changes to the ECN are subject to the closing of the transactions announced on April 22 - Novartis expects the transaction with GSK to be completed in the first half of 2015, and the transaction with Eli Lilly for its Animal Health Business to close in the first quarter of 2015. George Gunn, currently Division Head, Novartis Animal Health, will reach his contractual retirement age in July 2015 and will retire from Novartis. Upon closing of the Animal Health transaction with Lilly he will leave the ECN. Brian McNamara, currently Division Head, Novartis OTC, will transition to GSK as Head of Americas and Europe for the consumer health businesses, reporting to the President of GSK Consumer Healthcare, effective at closing of the transaction. Andrin Oswald, currently Division Head, Novartis Vaccines, will be leaving Novartis to pursue other opportunities following closing of the transaction with GSK.
October 7, 2014
13:04 EDTJCPJ.C. Penney to host analyst day
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10:13 EDTJCPJ.C. Penney volatility increases into company hosted analyst day
J.C. Penney October weekly call option implied volatility is at 118, October is at 72, November is at 57, January is at 55, February is at 53; compared to its 26-week average of 54 according to Track Data suggesting large near term price movement into a company hosted analyst day event on October 8.
10:02 EDTUNHOn The Fly: Analyst Initiation Summary
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