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Stock Market & Financial Investment News

News Breaks
April 8, 2013
12:19 EDTVRX, WFT, LUFK, OMPI, FTK, JNJ, BCRX, GEOn 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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May 14, 2015
14:54 EDTJNJJohnson & Johnson unit reports results of VENTURE-AF trial
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09:41 EDTJNJLeerink medical devices analyst holds a cardiology luncheon meeting
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May 13, 2015
17:50 EDTJNJPharmacyclics to showcase new 'promising' Imbruvica data at ASCO
Pharmacyclics announced that ibrutinib, also known as Imbruvica, single-agent and combination data will be featured in seven oral and poster sessions at the 51st American Society of Clinical Oncology, ASCO, Annual Meeting being held May 29-June 2 in Chicago, IL. According to a statement from ASCO, Imbruvica data will also be included in the official press program during the meeting for the second time in two years. Imbruvica is jointly developed and commercialized by Pharmacyclics and Janssen Biotech, a Johnson & Johnson (JNJ) subsidiary. Data being presented include, among others, an oral presentation from the Phase III HELIOS study of ibrutinib in combination with bendamustine and rituximab in relapsed or refractory chronic lymphocytic leukemia, a poster presentation of ibrutinib in steroid-dependent or refractory chronic graft-versus-host-disease as well as a dose adherence analysis of ibrutinib 420 mg administered to previously treated CLL patients. "We look forward to sharing promising data at this year's ASCO that examines the use of Imbruvica across a broad range of hematologic disease settings from our clinical studies," said Danelle James, M.D., M.S., Head of Oncology at Pharmacyclics.
11:17 EDTGEGE looks to sell Japan commercial finance operation, WSJ says
General Electric is looking to sell its Japanese commercial finance operations, as the conglomerate looks to slim down assets held in its GE Capital unit, says the Wall Street Journal. The unit, which finances the purchase of equipment is valued at about $5B, added the Wall Street Journal. Reference Link
09:39 EDTGEActive equity options trading on open
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07:08 EDTGEOppenheimer to hold a conference
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07:00 EDTBCRXBioCryst initiates Phase 1 clinical trial of angioedema candidate
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06:15 EDTGEEU restart probe of GE's planned acquisition of Alstom's power business, WSJ say
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May 12, 2015
10:45 EDTGEAnalyst says Pall deal may spark more life sciences M&A
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09:51 EDTGEPall Corp. could be precursor to more Life Science deals, says Janney Capital
After The Wall Street Journal said Pall Corp. (PLL) is nearing a possible sale, naming Thermo Fisher (THO) and Danaher (DHR) as potential suitors, Janney Capital said it thinks dealmaking in the Life Sciences space won't stop with Pall, listing Repligen (RGEN), Bio-Techne (TECH) and VWR (VWR) as others in the industry that could see strategic bids emerge. The firm added that it expects that GE (GE), 3M (MMM), and private equity firms would also be involved in bidding in deals in the space.
May 11, 2015
17:58 EDTJNJJ&J's Janssen gets complete response letter regarding sNDA for Invega Sustenna
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17:23 EDTGEGE would consider concessions to secure Alstom deal, Reuters says
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12:35 EDTGEGE not likely to gain unconditional approval for Alstom deal, Reuters reports
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12:28 EDTGEGE launches cloud foundry ‘Industrial Dojo’
GE Software announced its ‘Industrial Dojo,’ in collaboration with the Cloud Foundry Foundation, to strengthen its efforts to solve the world’s biggest industrial challenges. The Cloud Foundry Dojo program allows software developers to immerse themselves in open source projects to quickly learn the inner workings of the core technology and the unique agile development environment, as well as recommended methodologies for contributing code. GE also announced it will work with the Cloud Foundry community to develop and contribute open source code to the Cloud Foundry Foundation that will route all industrial messaging protocols. By opening this Industrial Dojo, GE Software is enabling developers to better learn industrial intricacies by pairing with experienced developers, thereby greatly reducing the time-to-productivity for those new to a project. Through this program, GE is bolstering its commitment to open source development and Cloud Foundry, and ultimately promoting the next wave of industrial innovation. Also announced, GE will drive, in collaboration with Pivotal, creation of a “TCP Router” to direct non-HTTP protocols and better equip Cloud Foundry to connect industrial machines with IT networks. By donating this innovation to the open source community, GE will enable Cloud Foundry to be used in a variety of industrial applications and use cases.
10:21 EDTGEGE says EU suspends review on Alstom deal, sees probe resuming, Reuters reports
General Electric (GE) said the investigation of its takeover bid for Alstom's (ALSMY) power equipment business was suspended last month by EU antitrust regulators, Reuters reports. GE says the probe was halted on April 24 to give the regulators time to review additional information, and believes the review will restart this week. Reference Link
09:59 EDTWFTOn The Fly: Analyst Downgrade Summary
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06:16 EDTWFTWeatherford downgraded to Neutral from Buy at Citigroup
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May 10, 2015
19:25 EDTJNJCourt rejects claim that drugmakers misled opiate patients, Bloomberg says
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14:05 EDTJNJJohnson & Johnson shares may deliver double-digit returns, Barron's says
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12:33 EDTGEHoneywell stock could rise 20% in 12 months, Barron's says
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