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News Breaks | | | | November 12, 2012 | | 16:21 EDT |  | UNH, PCP, JEF, CLVS, SRPT, TRV, TIE, JCP, GILD, NYX, LUK, GSK | On 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, China’s 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 nation’s 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. | |
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News For JEF;LUK;TIE;PCP;NYX;TRV;UNH;GILD;SRPT;GSK;JCP;CLVS From The Last 14 Days Check below for free stories on JEF;LUK;TIE;PCP;NYX;TRV;UNH;GILD;SRPT;GSK;JCP;CLVS the last two weeks. |
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| May 24, 2013 | | 08:22 EDT |  | CLVS | Leerink's biotech analysts hold an analyst/industry conference call
 Subscribe for More Information | | | 07:20 EDT |  | GILD | Celgene, Gilead, and Biogen could go much higher, says Bernstein
Subscribe for More Information | | | May 23, 2013 | | 14:58 EDT |  | JCP | J.C. Penney May volatility at eight-month lows
J.C. Penney overall option implied volatility of 52 is below its 26-week average of 62 according to Track Data, suggesting decreasing price movement. | | | 10:27 EDT | | GILD | Gilead has a conference call hosted by JPMorgan
Subscribe for More Information | | | May 22, 2013 | | 16:12 EDT |  | JCP | J.C. Penney enters into new $2.25B credit facility
J. C. Penney Company announced that its wholly owned subsidiary, J. C. Penney Corporation, has entered into a new five-year $2.25B senior secured term loan credit facility. The size of the facility was increased from the $1.75B anticipated in the commitment letter the company announced on April 29. | | | 08:25 EDT | | GSK | GlaxoSmithKline awarded up to $200M by U.S. to develop new antibiotics
Subscribe for More Information | | | May 21, 2013 | | 16:51 EDT | | GILD | Gilead's sofosbuvir gets EMA validation, now under assessment
Subscribe for More Information | | | 15:19 EDT |  | TRV | Travelers remains below its 10-day moving average, levels to watch
Subscribe for More Information | | | 08:56 EDT | | JCP | J.C. Penney announces successful tender, consent solicitation for debentures
Subscribe for More Information | | | 07:44 EDT | | GSK | Sachs Associates to host a forum
Subscribe for More Information | | | | 07:34 EDT | | SRPT | UBS to host a conference
Subscribe for More Information | | | 07:07 EDT | | GSK | Theravance pullback on Elan bid a buying opportunity, says Piper Jaffray
Subscribe for More Information | | | May 20, 2013 | | 10:23 EDT | | JCP | J.C. Penney advances after analyst hikes price target to $27
Subscribe for More Information | | | 10:11 EDT |  | JCP | On The Fly: Analyst Upgrade Summary
Subscribe for More Information | | | 08:16 EDT | | JCP | Follow-up: J.C. Penney upgraded to Buy from Hold at Maxim
Maxim upgraded J.C. Penney on expectations the company's strategy changes under new CEO Mike Ullman will drive traffic. The firm said its recent channel checks indicate that store traffic has increased and it raised its price target for shares to $27 from $16.50. | | | 08:03 EDT | | JCP | J.C. Penney upgraded to Buy from Hold at Maxim
| | | 07:42 EDT | | UNH | Cohasset Associates to host a conference
National Conference on Managing Electronic Records is being held in Chicago on May 20-22. | | | 07:34 EDT | | GILD | UBS to host a conference
Subscribe for More Information | | | 07:30 EDT | | JCP | J.C. Penney price target lowered to $7 from $12 at BMO Capital
Subscribe for More Information | | | May 17, 2013 | | 10:55 EDT | | JCP | J.C. Penney drops after results miss expectations
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