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August 18, 2014
10:43 EDTLITB, AFL, LCI, MOBI, TRP, SNSS, EGHT, CSTMHigh option volume stocks
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October 10, 2014
05:47 EDTSNSSStocks with implied volatility movement; SNSS GPOR
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October 8, 2014
08:17 EDTEGHT8x8, Inc. awarded new patent related to contract center technologies
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07:19 EDTSNSSCBI to hold a conference
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06:47 EDTLCILawmakers may push for new regulations on generic drug makers, NY Times says
After the prices of some generic drugs soared more than 1,000% over the last year, two influential members of Congress are probing the sector and threatening to look to impose new regulations on it, according to The New York Times. Generic drug makers include Teva (TEVA), Mylan (MYL), Actavis (ACT), and Lannett (LCI).Reference Link
05:45 EDTSNSSStocks with implied volatility movement; GTAT SNSS
Stocks with implied volatility movement; GT Advanced (GTAT) 403, Sunesis (SNSS) 164 according to iVolatility.
October 7, 2014
10:02 EDTSNSSOn The Fly: Analyst Downgrade Summary
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08:15 EDTEGHT8x8, Inc. names Mary Ellen Genovese as CFO
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07:50 EDTSNSSSunesis downgraded to Sell from Buy at UBS
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06:41 EDTSNSSSunesis downgraded to Hold from Buy at Cantor
Cantor Fitzgerald downgraded Sunesis to Hold after removing Qinprezo from its model following the Phase III VALOR trial failure. The firm thinks the stock will be capped to a multiple of cash in the near-term, or roughly $2 per share. Sunesis was also downgraded this morning at Roth Captial.
06:22 EDTSNSSSunesis downgraded to Neutral from Buy at Roth Capital
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06:16 EDTCSTMConstellium shares oversold following acquisition, says Citigroup
Citigroup says that even though Constellium's acquisition of Wise Metals looks rich, the stock is "overly punished" following the news. It lowered its price target for shares to $31 from $37 but reiterates a Buy rating on Constellium.
06:09 EDTSNSSStocks with implied volatility below IV index mean; ADHD SNSS
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October 6, 2014
16:20 EDTSNSSOn The Fly: Closing Wrap
Stocks on Wall Street opened in positive territory and appeared ready to ride the wave of optimism from Friday’s jobs report into the new week. However, with little on the economic calendar to sustain the momentum, each of the major equity indexes had given up their gains by noon. The Dow and S&P 500 made it back to flat late in the session, but weakened into the close to end the day slightly lower. The tech-heavy Nasdaq was the laggard throughout and ended the day with the most significant decline. ECONOMIC EVENTS: In the U.S., no major economic data was reported. COMPANY NEWS: Hewlett-Packard (HPQ) climbed $1.67, or 4.74%, to $36.87 after it confirmed plans to split itself into two publicly traded companies by the end of its fiscal 2015. One company will include HP's technology infrastructure, software and services businesses, to be known as "Hewlett-Packard Enterprise," while the other will include the company's PC and printing businesses and be called "HP Inc." After the announcement, HP shares were upgraded to Outperform from Neutral at Credit Suisse, while analysts at Cantor called the split "a bold and smart move" that will give HP the financial flexibility needed to sell off one or both of the PC and printing businesses if an attractive offer emerges for either or both. MAJOR MOVERS: Among the notable gainers was Durata Therapeutics (DRTX), which surged $10.36, or 74.64%, to $24.24 after the company agreed to be acquired by larger drugmaker Actavis (ACT) for $23.00 per share in cash, or approximately $675M, and contingent value rights for additional cash payments of up to $5.00 per share if certain regulatory or commercial milestones related to Durata's lead product are achieved. Also higher was CareFusion (CFN), which jumped $10.58, or 22.92%, to $56.75 after agreeing to be acquired by Becton Dickinson (BDX) for $49 in cash and 0.0777 of a share of BD for each share of CareFusion, or about $12.2B. Becton Dickinson rose $9.14, or 7.89%, to $124.98 after its deal, while Actavis slipped $2.12, or 0.86%, to $243.95, after its own, much smaller purchase. GT Advanced Technologies (GTAT) plunged $10.22, or 92.46%, to 83c after the company announced that it and some of its units had commenced voluntary cases under chapter 11 of the bankruptcy code, which Raymond James believes implies a "fundamental, severe breakdown" of the company's relationship with Apple (AAPL). Also lower were shares of Sunesis (SNSS), which dropped $5.18, or 78.01%, to $1.46 and was downgraded at RBC Capital and Wells Fargo after a trial of a combination therapy for patients with first relapsed or refractory acute myeloid leukemia did not meet its primary endpoint. INDEXES: The Dow slid 17.78, or 0.1%, to 16,991.91, the Nasdaq fell 20.82, or 0.47%, to 4,454.80, and the S&P 500 slipped 3.08, or 0.16%, to 1,964.82.
15:32 EDTSNSSSunesis downgraded to Sector Perform from Outperform at RBC Capital
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12:49 EDTSNSSSunesis downgraded to Market Perform from Outperform at Wells Fargo
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12:41 EDTSNSSOn The Fly: Midday Wrap
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10:14 EDTSNSSHigh option volume stocks
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09:37 EDTSNSSActive equity options trading on open
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09:25 EDTSNSSOn The Fly: Pre-market Movers
HIGHER: HP (HPQ), up 5% after confirming plans to separate into two companies... CareFusion (CFN), up 24% after Becton Dickinson (BDX) agreed to acquire the company for $58 per share in $12.2B deal. Becton Dickinson shares are up 7% following the news... Chimerix (CMRX), up 7% after announcing announced that brincidofovir has been provided for potential use in patients with Ebola Virus Disease... Conn's (CONN), up 6.5% after announcing that it is exploring strategic alternatives... TASER (TASR), up 5% after announces multiple orders of TASER Smart Weapons... Tableau (DATA), up 3.5% after upgraded at Morgan Stanley... Splunk (SPLK), up 3.9% after upgraded at Morgan Stanley... Unilife (UNIS), up 52% after signing a 15-year commercial supply agreement with Sanofi (SNY). LOWER: RadioShack (RSH), down 5% after confirming definitive agreements to restructure debt... Alcobra (ADHD), down 43% after announcing results from Phase III study of MDX in adult ADHD... Sunesis (SNSS), down 71% after announcing Phase 3 VALOR trial did not meet primary endpoint... H&R Block Bank (HRB), down 5% after deal with BofI (BOFI) not expected to get regulatory approval this year. Tekmira (TKMR), down 8% after downgraded at Leerink.
06:35 EDTSNSSSunesis announces Phase 3 VALOR trial did not meet primary endpoint
Sunesis announced results from the pivotal Phase 3 VALOR trial, a randomized, double-blind, placebo-controlled trial of vosaroxin and cytarabine in patients with first relapsed or refractory acute myeloid leukemia. At more than 100 leading international sites, the trial enrolled 711 patients, who were stratified for age, geography and disease status. The trial did not meet its primary endpoint of demonstrating a statistically significant improvement in overall survival, with a median overall survival of 7.5 months for vosaroxin and cytarabine compared to 6.1 months for placebo and cytarabine. Because transplant may confound the primary analysis, a predefined analysis of overall survival censoring for stem cell transplantation was planned. In this analysis, patients receiving the vosaroxin combination had a median overall survival of 6.7 months versus 5.3 months for placebo and cytarabine. The trial also demonstrated a clinically significant benefit in complete remission rate, the secondary endpoint. In the intent-to-treat population, Grade 3 or higher non-hematologic adverse events that were more common in the vosaroxin combination arm were gastrointestinal and infection-related toxicities, consistent with those observed in previous company trials. The rate of serious adverse events was 55.5% in the vosaroxin combination arm compared to 35.7% in the placebo and cytarabine arm. Thirty-day and 60-day all-cause mortality were comparable between the trial arms.
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