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Stock Market & Financial Investment News

News Breaks
January 9, 2014
09:11 EDTMCK, BBBY, BIIB, ROVI, DG, YRCW, SGMO, QIHU, SQNM, ICPT, JCP, FDO, MOn The Fly: Pre-market Movers
HIGHER: Macy's (M), up 6% after announcing cost reduction initiatives that include cutting 2,500 jobs and issuing FY14 EPS guidance that beat the consensus analyst estimate... Intercept (ICPT), up over 200% after announcing NASH primary endpoint met, FLINT trial stopped early... J.C. Penney (JCP), up 3% after upgraded at Piper Jaffray... McKesson (MCK), up 3.7% after making final offer for Celesio, increases price to EUR 23.50 per share... Sangamo (SGMO), up 14.3% after collaborating with Biogen (BIIB) for hemoglobinopathy treatment development... Sequenom (SQNM), up 10.6% after granted patent by European patent office... DOWN AFTER EARNINGS: Family Dollar (FDO), down 7.3%. Peer Dollar General (DG) down 2.4% in sympathy... Bed Bath & Beyond (BBBY), down 9%... Rovi (ROVI), down 3.4%. ALSO LOWER: Qihoo 360 (QIHU), down 4.5% after China Daily reported the company denied Alibaba's interested in investing... YRC Worldwide (YRCW), down 13% after Teamsters group says union contract extension may be defeated.
News For M;JCP;ICPT;FDO;DG;BBBY;QIHU;ROVI;MCK;SGMO;BIIB;SQNM;YRCW From The Last 14 Days
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January 14, 2015
07:05 EDTBIIBIsis Pharmaceuticals earns $7M from Biogen for advancing muscular atrophy study
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January 13, 2015
13:29 EDTMCKMcKesson sees $275M-$325M in synergies from Celesio acquisiton by FY19
Guidance from slides presentation at JPMorgan Healthcare Conference.
13:25 EDTMCKMcKesson backs FY15 EPS view $10.50-$10.90, consensus $10.83
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13:09 EDTBIIBBiogen CEO says company has strengthened R&D, to stay active in M&A
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10:17 EDTJCP, BBBYOptions with decreasing implied volatility
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09:00 EDTMMacy's names RLJ Lodging Trust CFO Leslie Hale to board of directors
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January 12, 2015
17:01 EDTFDOFred's names Michael Bloom COO
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15:40 EDTSQNMSequenom Q4 preliminary results disappointing, says Piper Jaffray
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15:27 EDTSQNMSequenom sees FY15 accessioned tests above 200K
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15:25 EDTSQNMSequenom sees Q4 revenue $37M, consensus $44.6M
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15:21 EDTSQNMSequenom sees FY14 revenue $151M, consensus $160.7M
Sequenom reported FY14 preliminary revenue of $151M earlier in slides for its upcoming presentation at the JP Morgan Healthcare Conference. The company said in the slides that it had reduced its cash burn from $107M in FY13 to $37M in FY14 and ended FY14 with approximately $94M in cash. The company reported FY14 NIPT accessioned tests of 162. Sequenom shares are down 1% in afternoon trading after this morning's disclosure of the conference slides.
10:15 EDTJCP, BBBYOptions with decreasing implied volatility
Options with decreasing implied volatility: NBIX APOL NPSP BBBY INFY JCP MU TIF
08:13 EDTICPTIntercept plans to initiate PSC Program Biliary Atresia Phase in 2H15
Intercept provided a clinical update on obeticholic acid, or OCA, a novel bile acid analog and first-in-class agonist of the farnesoid X receptor, or FXR, as well as planned 2015 milestones and other general business updates. OCA is currently being developed for the treatment of several chronic liver diseases, including primary biliary cirrhosis, or PBC, nonalcoholic steatohepatitis, or NASH, and primary sclerosing cholangitis, or PSC. The completion of PBC Program NDA and MAA filings planned in 1H15. The NASH Program Phase 3 program initiation planned in 1H15 and Japan Phase 2 trial data expected at the end of 2015. The PSC Program Biliary Atresia: Phase 2 initiation planned in 2H15 and INT-767: Phase 1 initiation planned for the end of 2015. Intercept ended 2014 with approximately $240M in cash and investments. For FY15, the company projects adjusted operating expenses in the range of $180M-$200M, which excludes stock-based compensation and other non-cash items. These expenses will support the clinical development program for OCA in PBC, NASH and PSC, expansion of our clinical, regulatory, medical affairs and commercial infrastructure in the United States and Europe, expansion of OCA manufacturing activities, as well as advancement of INT-767 and other preclinical pipeline programs. Adjusted operating expense, as presented above, is a non-GAAP financial measure. The company anticipates that stock-based compensation expense will represent the most significant non-cash item that is excluded in adjusted operating expenses as compared to operating expenses under GAAP.
07:35 EDTJCPNational Retail Federation to hold a trade show
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07:21 EDTSGMOEBD Group to hold a conference
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07:05 EDTSGMOSangamo provides update on ZFP Therapeutic programs
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06:35 EDTM, JCPObama to press for law requiring disclosure of hacking, NY Times says
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06:18 EDTFDOFamily Dollar sends letter to stockholders on proposed merger with Dollar Tree
Family Dollar (FDO), in a letter to its stockholders, explains the recommendation of the board that stockholders vote "FOR" the merger with Dollar Tree (DLTR). In the letter, Family Dollar CEO Howard Levine said, "I wanted to provide complete transparency to you regarding the most recent feedback that we have received from the FTC staff, which reaffirms the statements that we have been making for several months now about the inability of the Dollar General proposal to be consummated on the terms proposed by Dollar General and the certainty of the Dollar Tree merger... This existing economic analysis by the FTC will be refined in certain respects, but we see no basis to believe that, taken together, these refinements will result in a final divestiture number anywhere near the 1,500 stores that Dollar General has offered to divest. Importantly, the 3,500 to 4,000 store range does not include many additional divestitures that likely will be triggered by the well over 1,000 additional new or planned Dollar General and Family Dollar stores. The FTC staff plans to incorporate these stores into the same economic analysis, which will create new overlaps and exacerbate existing overlaps that have not yet created presumptions of requirements to divest. Going in the other direction, the FTC will incorporate into its economic analysis a modest number of competitorsí additional new or planned stores. We expect that the net impact of these two changes will be an increase in the store count... With respect to timing, in light of the thousands of stores at issue, we expect that the definitive number of divestitures that the FTC will actually require is not likely to be known by Family Dollar or Dollar General for several months... We expect Dollar Tree to continue to make rapid progress in completing the antitrust clearance process pursuant to its binding undertakings in the merger agreement, including its covenant to divest as many stores as necessary or advisable to obtain such clearance. In sum, antitrust clearance of the Dollar Tree merger on its terms and in a timely manner is a virtual certainty."
06:04 EDTFDODollar Tree provides update on FTC review of Family Dollar acquisition
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January 11, 2015
20:06 EDTBIIBBiogen acquires U.K.-based Convergence for up to $675M
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