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Stock Market & Financial Investment News

News Breaks
April 8, 2013
12:19 EDTJNJ, BCRX, GE, VRX, WFT, LUFK, OMPI, FTKOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday as investors await the start of the latest earnings season, which kicks off unofficially after today's close with Alcoa's (AA) report. The averages all fell into negative ground soon after the open and found a level, from which they have been range-bound ever since. With a very quiet economic calendar today and generally depressed expectations for the earnings seasons, the lackluster trading may extend from here until the close... ECONOMIC EVENTS: In the U.S., no major economic data was reported... COMPANY NEWS: General Electric (GE) agreed to acquire Lufkin (LUFK), which supplies products, technology and services to the oil and gas industry, for $3.3B, or $88.50 per share in cash. Lufkin soared over 37% to trade within 50c of the agreed upon per share price at midday, while some of its peers rose as well, including Flotek (FTK) and Weatherford (WFT), which both advanced over 3%. GE shares, meanwhile, slid 0.4%... MAJOR MOVERS: Among the notable gainers was BioCryst (BCRX), which rose 22% amid reports of new bird flu infections in China. BioCryst is developing peramivir, an investigational anti-viral agent to treat influenza. Among the noteworthy losers was Obagi Medical (OMPI), which fell 6% after Merz Pharma withdrew its offer to acquire Obagi in the face of a $24 per share competing offer from Valeant Pharmaceuticals (VRX). Also lower were shares of Johnson & Johnson (JNJ), which slid nearly 2% after JPMorgan lowered it rating on the stock to Neutral from Overweight... INDICES: Near noon, the Dow was down 51.84, or 0.36%, to 14,513.41; the Nasdaq was down 3.11, or 0.10%, to 3,200.75; and the S&P 500 was down 1.63, or 0.10%, to 1,551.65.
News For LUFK;GE;FTK;WFT;BCRX;OMPI;VRX;JNJ From The Last 14 Days
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December 17, 2014
09:02 EDTJNJHalozyme enters collaboration pact with Janssen for ENHANZE Technology
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08:06 EDTJNJInovio appoints Zane Yang as VP, Clinical Development, Oncology
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08:04 EDTGEGeneral Electric guidance positive, says RBC Capital
RBC Capital views General Electric's 2015 EPS guidance as positive, given the company's 11% oil and gas exposure. The firm thinks the company's guidance indicates that its industrial businesses are set to generate healthy earnings growth in 2015. RBC Capital trimmed its price target on GE to $28 from $30 and keeps an Outperform rating on the shares.
December 16, 2014
15:57 EDTGEGE CEO says company planning for 'sluggish' oil & gas performance in FY15
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15:44 EDTGEGeneral Electric sees FY15 EPS $1.70-$1.80, consensus $1.79
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15:18 EDTGEGE CEO says still considering ways to shrink GE Capital in investor-friendly way
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15:14 EDTGEGeneral Electric sees Alstom deal adding about 1c to FY15 EPS
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15:07 EDTGEGeneral Electric sees FY15 Industrial EPS $1.10-$1.20
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15:02 EDTGEGeneral Electric sees returning $10B-$30B to investors in FY15
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14:57 EDTGEGeneral Electric says Alstom synergy opportunities better than expected
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14:54 EDTGEGE repeats view for FY14 revenue flat to up 5%, consensus $148.92B
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09:22 EDTGEGeneral Electric must answer on oil and gas focus after price slide, WSJ says
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08:03 EDTGEGeneral Electric to acquire Oceaneering's Electric Actuator product line
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07:20 EDTJNJGeron announces early HSR clearance for collaboration with Janssen
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05:56 EDTGEBoeing selects GE Aviation for ELMS on 777X
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December 15, 2014
12:01 EDTGEBioTime unit, GE Healthcare sign set of license agreements, terms not disclosed
BioTime (BTX) announced that its subsidiary ES Cell International Pte. Ltd. and GE Healthcare (GE) have signed a set of license agreements through which GEHC received rights to ESIís stem cell patents and ESI received rights to stem cell patents controlled by GEHC, in both cases for the development of cellular assays and models derived from stem cells for use in drug discovery and toxicity screening. In addition, the agreements give GEHC the right to grant sub-licenses to the ESI patent portfolio and, in certain circumstances, ESI may further sublicense its rights for the purpose of marketing stem cell-derived products. Financial terms were not disclosed.
11:17 EDTGEGE Aviation selected by Boeing for 777x common core avionics systems
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08:15 EDTGEGeneral Electric to host investor meeting
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08:08 EDTGEGeneral Electric enters into IP licensing agreement with WordLogic
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07:17 EDTBCRXBioCryst initiates Phase 1 clinical trial of BCX4430
BioCryst Pharmaceuticals announced the dosing of the first subject in a randomized, placebo-controlled Phase 1 clinical trial to evaluate intramuscular, or I.M., administration of BCX4430 in healthy volunteers. BCX4430 is being developed as a potential treatment for hemorrhagic fever viruses, including Ebola virus and Marburg virus disease. The main goals of this first-in-human study are to evaluate the safety, tolerability and pharmacokinetics of escalating doses of BCX4430 administered via I.M. injection in healthy subjects. In part one of the study, subjects will receive a single dose of BCX4430; in part two of the study, subjects will receive BCX4430 for seven days. Up to six single-dose cohorts and four multiple-dose cohorts will be evaluated, with a total of up to 88 volunteers participating.
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