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Stock Market & Financial Investment News

News Breaks
April 8, 2013
12:19 EDTLUFK, GE, FTK, WFT, BCRX, OMPI, VRX, JNJOn 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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September 22, 2014
07:50 EDTJNJDoctors continue to use morcellators despite FDA warning, J&J halt, WSJ says
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07:07 EDTJNJSynageva appoints Robert Bazemore as COO
Synageva announced the appointment of Robert Bazemore as Chief Operating Officer. Bazemore will oversee the planned global commercial launch of the company's lead program, sebelipase alfa for LAL Deficiency, and will have responsibility for the company's global commercial, market access and medical affairs operations. Bazemore last served at Johnson & Johnson (JNJ) in varoius roles including Vice President, Ethicon New Growth Platforms and President of Janssen Biotech, a part of the Janssen Pharmaceutical Companies of Johnson & Johnson.
05:32 EDTGEHologic upgraded to Overweight from Neutral at Piper Jaffray
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September 20, 2014
20:43 EDTWFTChesapeake, Weatherford seem attractive, Barron's says
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September 19, 2014
17:10 EDTGEGeneral Electric considers deal with Dresser-Rand, FT reports
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16:25 EDTGEGeneral Electric said in talks with Dresser-Rand on potential deal, FT reports
11:25 EDTVRXSenators bring bill requiring companies to settle before inverting
U.S. Senators Sherrod Brown and Dick Durbin announced new legislation requiring corporations to "Pay What You Owe Before You Go" – settling their U.S. tax bill before relocating to a foreign country. "Everyone knows that before you leave a restaurant you have to settle your tab," Brown said. "Corporations shouldn’t get to play by different rules. While it is critical that we reach a long-term solution that reforms our international corporate tax code by implementing a global minimum tax and reducing the statutory tax rate, this bill is an immediate, commonsense measure to ensure businesses settle up before leaving the U.S." Among the deals or possible transactions that involve inversion are Mylan's (MYL) acquisition of Abbott (ABT), Medtronic's (MDT) acquisition of Covidien (COV) and Valeant's (VRX) proposed takeover of Allergan (AGN).
September 18, 2014
12:08 EDTBCRXBioCryst receives additional NIAID funding for BCX4430
BioCryst announced that the National Institute of Allergy and Infectious Diseases exercised two additional options under its contract, which provides for GMP drug substance and drug product manufacture of BCX4430. Exercise of these options includes up to a $2M increase to the existing development contract. The contract modification and the two additional options exercised represent up to $4M to BioCryst in order to accelerate the development of BCX4430 as a treatment for hemorrhagic fever viruses, including Ebola virus and Marburg virus disease. NIAID, part of the National Institutes of Health, granted this five year term contract to BioCryst in September 2013. Approximately $19.9M of funding has been awarded to date under the contract. With this additional award, the BCX4430 development contract has been increased in value to $26.3M, if all options are exercised. This project is funded in whole or in part with Federal funds from the National Institute of Allergy and Infectious Diseases, National Institutes of Health, Department of Health and Human Services, under Contract No. HHSN272201300017C.
06:52 EDTGEGeneral Electric shares attractive at current levels, says Barclays
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September 17, 2014
10:00 EDTGEOn The Fly: Analyst Initiation Summary
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08:36 EDTJNJJanssen-Cilag announces results from post-hoc canagliflozin analysis
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08:12 EDTJNJJanssen-Cilag announces results from Phase 3 Invokana trial
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07:39 EDTGEMorningstar to hold a conference
Management Behind the Moat Conference to be held in Chicago on September 17-18.
September 16, 2014
16:36 EDTGEGeneral Electric initiated with a Buy at Stifel
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11:51 EDTVRXOECD looks to close tax loopholes with new proposals
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10:31 EDTGEGE Hitachi's ESBWR receives NRC design certification approval
GE Hitachi Nuclear Energy announced that its Economic Simplified Boiling Water Reactor design certification has been approved by the U.S. Nuclear Regulatory Commission. The commission’s action acknowledges the finding by NRC staff that the ESBWR design meets all safety and regulatory requirements. Per the NRC’s previously published schedule, the final ESBWR design certification rule is expected to be published in the Federal Register by the end of September.
08:25 EDTGESnecma expects 1,800 CFM56s to be produced in FY19
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07:31 EDTJNJEuropean Association for Study of Diabetes to hold annual meeting
50th Annual Meeting of EASD to be held in Vienna, Austria on September 15-19.
06:54 EDTGEGE evades geared design in jet engine war versus Pratt, Reuters says
GE's (GE) Chief Technology Officer Mark Little said that the company evaded using a geared design for its new engine for narrowbody aircrafts due to worries about weight and soundness, as the company duels with competitor Pratt & Whitney for engine orders, according to Reuters, citing comments from Little. Pratt & Whitney is part of United Technologies (UTX). Reference Link
05:37 EDTVRXValeant, Pershing Square, Allergan settle pending litigation before DE Court
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