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Stock Market & Financial Investment News

News Breaks
August 4, 2014
09:14 EDTDO, NE, ESV, KORS, AMGN, DHI, PIKE, HK, HIMX, TKMR, RIG, INSM, ZGNX, NNVCOn The Fly: Pre-market Movers
HIGHER: Pike (PIKE), up 48% after signing a definitive merger agreement under which Court Square Capital Partners and the company's chairman and CEO will acquire the company in a transaction in which each of the company's shareholders will receive $12.00 per share cash... Amgen (AMGN), up 3.5% after the company reported its Phase 3 clinical trial ASPIRE met its primary endpoint of progression-free survival... NanoViricides (NNVC), up 9% after starting anti-ebola virus drug development program. Tekmira (TKMR), which also has an anti-Ebola treatment under development, is up 8.8%... D.R. Horton (DHI), up 2% after Barron's says analyst see the stock reaching $31.00 per share in a year... Himax (HIMX), up 4% after upgraded at Lake Street. LOWER: Michael Kors (KORS), down 3.8% after Q2 guidance miss expectations, company says its sees FY15 gross margins to be down 50 bps... Zogenix (ZGNX), down 7% after resignation of Chief Commercial Officer Scott Shively... Transocean (RIG), down 2.3% after downgraded to Sell at Deutsche Bank. The firm also downgraded Diamond Offshore (DO) and Ensco (ESV) to Sell this morning and lowered its rating on Noble Corp. (NE) to Hold from Buy... Halcon Resources (HK), down 4.8% after downgraded at Morgan Stanley... Insmed (INSM), down 27% after announcing that, following discussions with European regulatory authorities, it intends to file by the end of 2014 a Marketing Authorization Application with the EMA for Arikayce.
News For KORS;RIG;PIKE;NNVC;TKMR;DHI;ZGNX;HIMX;AMGN;INSM;HK;DO;ESV;NE From The Last 14 Days
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March 23, 2015
09:06 EDTINSMInsmed appoints Eugene Sullivan as Chief Medical and Scientific Officer
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09:03 EDTAMGNLeerink analysts hold a meeting with a conference call hookup
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March 22, 2015
17:16 EDTKORSMichael Kors looks inexpensive, Barron's says
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March 20, 2015
09:25 EDTINSMInsmed to host analyst and investor day
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09:06 EDTAMGNAmgen submits application for marketing approval for RepathaTM in Japan
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07:41 EDTAMGNAmerican Academy of Dermatology to hold annual meeting
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07:19 EDTDO, NE, RIGWhite House expected to unveil fracking rules today, WSJ says
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06:17 EDTTKMRTekmira 7.5M share Secondary priced at $20.25
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March 19, 2015
15:55 EDTAMGNAmgen injunction bid for Neupogen biosimilar denied, Reuters reports
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15:13 EDTAMGNAmgen denied preliminary injunction for biologics against Novartis, Reuters says
13:00 EDTRIGOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with Nasdaq slightly higher and the Dow and S&P 500 both down a bit more than 0.5%. The day’s economic reports were generally benign and are likely less significant to the trading action than participants having had some time to digest yesterday’s Fed comments. Immediately after the Fed's policy statement yesterday, the U.S. dollar fell as low as 1.10 against the euro, but that move was almost entirely reversed overnight. The dollar was back near pre-Fed levels against the euro early this morning, and similar moves were seen in pairs of the dollar and other major currencies. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 1K to 291K in the week ended March 14, which nearly matched the consensus 293K forecast. The current account deficit widened to $113.5B in Q4 from a revised deficit of $98.9B in Q3. The leading indicators for February rose 0.2% to 121.4, which was in-line with expectations. The Philadelphia Fed business outlook survey ticked down to a 5.0 one-year low from 5.2 in February, missing expectations for it to have risen a 7.0 reading. In Europe, the Swiss National Bank left rates unchanged, cut its growth forecasts for the country's economy, said that it will intervene in currency markets as needed since it believes the Swiss Franc remains overvalued. COMPANY NEWS: Apple (AAPL) joined the Dow Jones Industrial Average today, replacing AT&T (T). Shares of the iPhone maker were down 0.5% near midday, while AT&T stock fell a bit more than 1%... Shares of coffee giant Starbucks (SBUX) hit a new all-time high of $98.50 earlier this afternoon following the company's investor day meeting yesterday. In conjunction with its meeting, Starbucks reaffirmed its goal to grow its market cap to $100B, unveiled plans for two pilots of delivery services, announced that its board has declared the sixth two-for-one split of the company’s stock since its IPO in 1992 and said it has entered into an agreement for Tingyi to manufacture and expand the distribution of Starbucks ready-to-drink products throughout mainland China. Goldman Sachs and Wells Fargo both issued upbeat notes on the stock today, saying that the coffee retailer's shares can continue to climb. MAJOR MOVERS: Among the notable gainers was Coronado Biosciences (CNDO), which gained 42% after announcing the formation of a new company, Mustang Therapeutics, focused on Chimeric Antigen Receptor, or CAR-T, technology. The company also announced a licensing agreement with NeuPharma for EGFR inhibitors. Also higher was Guess (GES), which gained 15% after reporting higher than expected profits for its fiscal fourth quarter. Among the noteworthy losers was Transocean (RIG), which fell 6% after having announced last night that four of its 5th generation UDW drillships will be cold stacked and the contract with ENI (E) for the Transocean Amirante was terminated. Transocean also said it intends to scrap four rigs, noting that with those it has announced plans to scrap a total of 16 floaters. Also lower following its earnings report was diversified apparel company Vince Holding (VNCE), which fell 16%. INDEXES: Near midday, the Dow was down 128.51, or 0.71%, to 17,947.68, the Nasdaq was up 3.15, or 0.06%, to 4,985.98, and the S&P 500 was down 13.36, or 0.64%, to 2,086.14.
11:24 EDTRIGStocks with call strike movement; X RIG
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09:20 EDTTKMR, RIGOn The Fly: Pre-market Movers
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07:50 EDTRIGTransocean reiterated as a Sell, target to $11 at Goldman
After the close, Transocean announced that four of its 5th generation UDW drillships will be cold stacked and the contract with ENI for the Transocean Amirante was terminated due to the deteriorating security situation in Libya. The firm said these two announcements are indicative of the very weak contracting environment. Goldman reiterates its Sell rating on Transocean and lowered its price target to $11 from $12.
March 18, 2015
18:32 EDTTKMROn The Fly: After Hours Movers
UP AFTER EARNINGS: Guess (GES), up 12.4% after reporting fourth quarter results and guidance... Shoe Carnival (SCVL), up 10%... NQ Mobile (NQ), up 9.1%... Tilly's (TLYS), up 1.3%... Cintas (CTAS), up 1.3% after reporting quarterly results and raising fiscal 2015 guidance. DOWN AFTER EARNINGS: Williams-Sonoma (WSM), down 4.1%... Jabil Circuit (JBL), down 1.8%... Juno Therapeutics (JUNO), down 3.3%. ALSO LOWER: Concert Pharmaceuticals (CNCE), down 4.4% after filing to sell common stock... Tekmira Pharmaceuticals (TKMR), down 3.7% after filing to sell 6M shares of common stock.
16:28 EDTRIGTransocean provides fleet update summary
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16:19 EDTTKMRTekmira files to sell 6M shares of common stock
Leerink Partners LLC and RBC Capital Markets LLC are acting as joint lead book-runners for the offering. Nomura is acting as a book-runner for the offering. Co-managers for the offering are: JMP Securities, Wedbush PacGrow Life Sciences and Lazard Frères & Co.
11:07 EDTZGNXBroadfin Capital reports 7.0% passive stake in Zogenix
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11:03 EDTNEStocks with call strike movement; NE FCX
Noble Corp. (NE) June 16 call option implied volatility increased 2% to 54, Freeport McMoRan (FCX) August 21 call option implied volatility increased 2% to 49 according to IVolatility.
10:06 EDTKORSMichael Kors recent headwinds provide a buying opportunity, says BofA/Merrill
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