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July 10, 2014
11:09 EDTSD, SRPT, GNC, FTNT, MBI, LL, RDN, PSEC, TWTR, LOOptions with increasing implied volatility
Options with increasing implied volatility: LL SRPT TWTR MBI SD PSEC FTNT LO RDN GNC
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September 29, 2015
18:16 EDTSRPTBioMarin receives favorable ruling in use of exon 51 antisense oligonucleotides
BioMarin Pharmaceutical (BMRN) announced that the Patent Trial and Appeal Board issued a decision in favor of BioMarin's claims to the use of exon 51 antisense oligonucleotides to treat Duchenne muscular dystrophy. The BioMarin patent application involved is U.S. Patent Application No. 14/198,992, which is licensed to BioMarin from the Academisch Ziekenhuis Leiden, The Netherlands. The decision by the PTAB is based on motions filed in the patent interference proceeding between BioMarin, due to the acquisition of Prosensa Therapeutics N.V. and Sarepta (SRPT) of Cambridge, Mass as licensee under patents filed by the University of Western Australia. The allowed claims cover the use of the antisense oligonucleotide drisapersen, as well as other antisense oligonucleotides that induce skipping exon 51 for the treatment of Duchenne muscular dystrophy. BioMarin also protects drisapersen under U.S. Patents 7,534,879 and 8,759,507, two patents which were not involved in the interference. The other interference between AZL and UAW related to composition of matter claims for antisense oligonucleotides for Exon 51 skipping, Interference 106,008, remains pending. In Europe, BioMarin's method patent EP 1 619 249 B1 was previously upheld in an amended form after an Opposition procedure initiated by AVI Biopharma (now Sarepta) before the European Patent Office Opposition Division. The upheld claims include the use of 14- to 40-mer antisense oligonucleotides directed to exon 51 in the DMD gene as a potential therapy to treat DMD. Although an appeal procedure is pending, BioMarin currently has an issued and enforceable patent, which encompasses antisense oligonucleotide product/product candidates directed to exons 51 and 46 in Europe.
13:23 EDTTWTRTwitter intends to go beyond 140-character limit, Re/code says
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13:07 EDTTWTRTwitter intends to go beyond 140-character limit, Re/code says
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09:19 EDTSDDeutsche Bank to hold a conference
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08:01 EDTRDNRadian Guaranty announces two-year partnership with AREAA
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September 28, 2015
11:57 EDTTWTRInvestors have confidence in Dorsey as next Twitter CEO, NY Times says
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11:51 EDTTWTRStocks with call strike movement; TWTR FCX
Twitter (TWTR) December 29 call option implied volatility increased 4% to 59, Freeport McMoRan (FCX) January 10 call option implied volatility increased 7% to 74 according to iVolatility.
08:03 EDTSRPTSarepta should be bought on any weakness, says Oppenheimer
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September 27, 2015
14:04 EDTFTNTCybersecurity firms look prime for takeover, Barron's says
Cybersecurity companies like Palo Alto Networks (PANW), Fortinet (FTNT), and FireEye (FEYE) are becoming increasingly-attractive takeover targets for a Cisco (CSCO) or IBM (IBM), and any future dip in their stocks could represent a buying opportunity, Barron's contends in its 'Technology Trader' column. Reference Link
September 25, 2015
15:29 EDTTWTRSquare to file IPO within next two weeks, Fortune reports
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11:58 EDTTWTRStocks with call strike movement; TWTR NFLX
Twitter (TWTR) January 32 call option implied volatility increased 2% to 53, Netflix (NFLX) January 115.7 call option implied volatility decreased 2% to 55 according to IVolatility.
10:39 EDTTWTRTwitter falls, levels to watch
The stock is down over 2.4% at time of writing to $25.98. At that price next support is at $25.02. Resistance is at $26.42.
08:47 EDTSRPTSarepta to host conference call
Conference call to discuss recent data from the Phase IIb study of eteplirsen for Duchenne muscular dystrophy will be held on October 1 at 7 am. Webcast Link
September 24, 2015
16:40 EDTTWTRTwitter rolls out autoplay video ads for apps
Twitter announced in a blog post that "advertisers can now use the power of video to promote their mobile apps on Twitter" starting Thursday. "The Video App Card autoplays in timelines... In beta, we saw that this highly engaging format helped some advertisers nearly triple their conversion rate from app click to install," the company said. Reference Link
13:19 EDTTWTROn The Fly: Top stock stories at midday
Stocks on Wall Street were sharply lower at midday, with each of the major indexes down more than 1%. Continued weakness in Asia and a lack of clarity regarding the Fed's rate decision last week has kept buyers on the sidelines while the sellers have had their way. Lowered guidance from Dow component Caterpillar (CAT) has weighed on the market in addition to some economic data points that were below expectations. ECONOMIC EVENTS: In the U.S., initial jobless claims were 267,000, versus expectations for 272,000 first-time claims. Durable goods orders for August declined 2.0%, versus expectations for a drop of 2.3%. When transportation items were removed, the core reading was breakeven, versus expectations for a rise of 0.1%. The Chicago Fed National Activity Index had a reading of -0.41, versus expectations of +0.24. New home sales jumped 5.7% in August to a 552,000 rate, versus expectations for a rise of 1.6% to a 515,000 rate. In Asia, Japan's stock market reopened for the first time since Friday and the Nikkei suffered a nearly 3% decline as it caught up to other global market trends in the week-to-date. The slide came despite Japanese Prime Minister Shinzo Abe unveiling new economic targets, including a goal for a 20% increase in the target size of the Japanese economy to 600T yen, though he gave no timeframe for achieving this aspiration. Elsewhere, Norway and Taiwan both cut interest rates this morning. The Norges Bank lowered rates by 25 basis points to 0.75%, while Taiwan cut its benchmark by 12.5 basis points to 1.75% in the nation's first lowering of rates since 2009. COMPANY NEWS: A slide in shares of Caterpillar weighed on the Dow Jones Industrial Average after the heavy machinery maker announced plans for job cuts and lowered its revenue guidance for this year and next. Caterpillar said that it would lay off 4,000-5,000 of its employees between now and the end of 2016 and could lay off up to 10,000 employees by 2018. Before the news was announced, research firm Axiom initiated coverage of Caterpillar with a Sell rating and $28 price target, which its shares were 5.7% closer to at midday following their swoon. Other mining and agriculture equipment makers, including Joy Global and Deere (DE), were also weaker following the Dow member's announcement. MAJOR MOVERS: Among the notable gainers was Arrowhead Research (ARWR), which rose 18% after disclosing top-line findings from the Heparc-2001 Phase 2a clinical study of ARC-520, its candidate for the treatment of chronic hepatitis B infection. Also higher was Hudson City Bancorp (HCBK), the parent company of Hudson City Savings Bank, which gained 3% after the bank, the Justice Department and CFPB reached a settlement to resolve allegations that the bank engaged in a pattern or practice of "redlining" predominantly Black and Hispanic neighborhoods in its residential mortgage lending practices. Notably, settling the allegations may pave the way for the bank to close out a proposed merger with M&T Bank (MTB). Among the noteworthy losers was Sientra (SIEN), which dropped 42% after disclosing that the U.K.'s Medicines and Healthcare products Regulatory Agency announced the suspension of the CE certificate for all medical devices made by Silimed, the company's contract manufacturer. Also lower were shares of Twitter (TWTR), which slid 4% after Citi cut its estimates below consensus and lowered its price target on the microblog service operator to $30. INDEXES: Near midday, the Dow was down 186.90, or 1.15%, to 16,092.99, the Nasdaq was down 56.64, or 1.19%, to 4,696.10, and the S&P 500 was down 20.18, or 1.04%, to 1,918.58.
10:58 EDTTWTRStocks with call strike movement; TWTR NFLX
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09:05 EDTTWTROn The Fly: Pre-market Movers
HIGHER: Arrowhead Research (ARWR), up 35% after disclosing top-line findings from the Heparc-2001 Phase 2a clinical study of ARC-520, its candidate for the treatment of chronic hepatitis B infection... Conatus Pharmaceuticals (CNAT), up 19% after the company's Phase 2 Portal Hypertension clinical trial of emricasan met its primary endpoints... Keryx Biopharmaceuticals (KERX), up 13% after announcing that the European Commission has approved Fexeric for the control of elevated serum phosphorus levels, or hyperphosphatemia, in adults with chronic kidney disease. LOWER: Caterpillar (CAT), down 5% after announcing restructuring plans, lowering revenue guidance, and having stock initiated with a Sell rating and a $28 price target at Axiom... Twitter (TWTR), down 1.5% after Citi cut estimates below consensus and lowered its price target to $30. DOWN AFTER EARNINGS: Worthington (WOR), down 12.5%... Accenture (ACN), down 3%.
08:57 EDTTWTRGoogle price target raised to $781 from $730 at Citi
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08:51 EDTTWTRCiti cuts Twitter estimates below consensus, drops target to $30
Citi analyst Mark May says his analysis indicates the consensus estimates for Twitter (TWTR) may be too high as they assume "meaningful increases" in monetization which he believes may prove difficult to realize. May cut his 2015, 2016 and 2017 earnings per share estimates for Twitter to 30c, 34c and 58c, respectively, well below the consensus estimates of 34c, 63c, and $1.03. He also cut his 2016 revenue estimate to 3% below the consensus. It will be difficult for the stock to achieve sustained multiple expansion until user growth accelerates and/or revenue growth stabilizes, May tells investors in a research note. He moved the stock to Citi's "High Risk" designation given Twitter's recent user trends and his belief that his estimates are unlikely to move up in the near-term. He keeps a Neutral rating on the name. May's top picks among U.S. Internet stocks remain Facebook (FB), (AMZN) and eBay (EBAY).
07:36 EDTFTNTFortinet checks positive, says Oppenheimer
After conducting checks on Fortinet, Oppenheimer says the checks indicate that the company's results could come in at least at the higher end of its guidance. The firm says that the company continues to benefit from a number of positive catalysts, including more large deals and increased demand for high-end products. The firm keeps a $55 price target and Outperform rating on the stock.
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