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Stock Market & Financial Investment News

News Breaks
August 8, 2014
12:34 EDTRPTP, MELI, NWSA, IRG, NVDA, MYL, MCDOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday despite the U.S. military having taken action in Iraq. Stock futures were sharply lower overnight but improved during the pre-market trading session, leading to higher open for the broader market. The move came after the president confirmed that U.S. forces made airstrikes in Iraq against ISIS forces. The averages struggled to find their direction in the early going, though momentum built to the upside as the morning continued and each of the equity indexes were firmly in positive ground by the noon hour. ECONOMIC EVENTS: In the U.S., productivity growth rose 2.5% in the second quarter, beating expectations for a rise of 1.6%. Second quarter unit labor costs, however, only increased 0.6%, which was below the 1% consensus forecast. Wholesale inventories increased 0.3% in June, and sales were up 0.2%, which were both below expectations. COMPANY NEWS: Shares of McDonald's (MCD) were virtually unchanged at noon despite the fact the company reported its comparable store sales fell 2.5% in July, which was significantly worse than expected. The fast food giant stated that its U.S. comparable sales were down 3.2% in the month compared to the same month of last year and that comp sales in Asia/Pacific, Middle East and Africa dropped 7.3%. The APMEA region's comparable sales decline reflects the impact of food quality and safety issues at a supplier to McDonald's and other food companies in China which caused a "significant negative impact" to results in China, Japan and certain other markets, the company noted. As a result of the China supplier issue, the company's previously issued global comparable sales forecast for 2014 is now at risk, McDonald's added. MAJOR MOVERS: Among the notable gainers was Raptor Pharmaceuticals (RPTP), which rose 25% after the company reported second quarter results and raised its expectations for sales of its Procysbi drug in this fiscal year. Also higher following their earnings reports were MercadoLibre (MELI), which rose 15%, and NVIDIA (NVDA), which gained nearly 7%. Among the noteworthy losers following their earnings reports were New Corporation (NWSA), which fell over 4%, and Ignite Restaurant Group (IRG), which dropped more than 31%. Also lower was Mylan (MYL), which said yesterday that it was delaying its investor day because it wants to come to its shareholders with a "full picture" for the Abbott (ABT) transaction and the stock was downgraded today to Sector Perform from Outperform at RBC Capital. The company also reported lower than expected Q2 earnings yesterday and gave below consensus Q3 EPS guidance and its stock was down 1.6% near noon. INDEXES: Near midday, the Dow was up 62.16, or 0.38%, to 16,430.43, the Nasdaq was up 8.01, or 0.18%, to 4,342.97, and the S&P 500 was up 6.75, or 0.35%, to 1,916.32.
News For MCD;NVDA;NWSA;MYL;IRG;MELI;RPTP From The Last 14 Days
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December 12, 2014
15:14 EDTNVDANVIDIA management to meet with Wedbush
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December 11, 2014
07:32 EDTMYLMylan launches generic version of Hikma Maple's Robaxin injection
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07:06 EDTMYLMylan launches generic version of Orapred ODT
Mylan announced the U.S. launch of its Prednisolone Sodium Phosphate Orally Disintegrating Tablets, 10 mg, 15 mg, and 30 mg. This product is the first generic version of Shionogi's Orapred ODT. Mylan received final approval from the FDA for its Abbreviated New Drug Application for Prednisolone Sodium Phosphate Orally Disintegrating Tablets, 10 mg, 15 mg, and 30 mg, and was awarded 180 days of generic drug marketing exclusivity. This product is indicated as an anti-inflammatory or immunosuppressive agent for certain conditions; and also for the treatment of certain endocrine conditions, and for palliation of certain neoplastic conditions. Prednisolone Sodium Phosphate Orally Disintegrating Tablets had U.S. sales of approximately $19.9M for the 12 months ending September 30.
December 10, 2014
16:00 EDTMCDOptions Update; December 10, 2014
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14:51 EDTMCDMcDonald's to offer fewer food items, Reuters reports
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10:56 EDTMCDMcDonald's could test its 52-week low, levels to watch
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07:38 EDTMYLMylan launches generic version of Pfizer's Celebrex capsules
Mylan (MYL) announced the U.S. launch of its Celecoxib Capsules, 50 mg, 100 mg, 200 mg, and 400 mg, one of the first available generic versions of Pfizer's (PFE) Celebrex Capsules, indicated for the relief of the signs and symptoms of osteoarthritis, rheumatoid arthritis, and ankylosing spondylitis, and for the management of acute pain in adults. Celecoxib Capsules had U.S. sales of approximately $2.5B for the 12 months ending September 30, 2014.
December 9, 2014
09:38 EDTMCDActive equity options trading
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December 8, 2014
16:24 EDTMCDOn The Fly: Closing Wrap
Stocks on Wall Street were lower amid another drop in crude oil prices, which tumbled to five-year lows. The market opened slightly lower following weaker than expected data from China and Japan, with nothing of note on the domestic calendar to get buyers involved in the day’s activity. Near noon, the averages gained downside momentum and though the market pared its losses several times, it was never able to gain any steam to pull the indexes back into the green. ECONOMIC EVENTS: In the U.S., no major economic data was released. In Asia, Chinese exports rose 4.7% from a year earlier in November, which missed the consensus estimate for an 8% increase. Chinese imports fell 6.7% from the prior year last month, compared with projections for a 3.8% increase. Additionally, Japan's revised third quarter gross domestic product estimate showed the economy shrank more than initially thought, with growth contracting an annualized 1.9%. COMPANY NEWS: Shares of Cubist Pharmaceuticals (CBST) surged $26.24, or 35.29%, to $100.60 after Merck (MRK) agreed to acquire the maker of next-generation antibiotics for $102 per share in cash, or $8.4B and the assumption of $1.1B in debt. A number of other antibiotic makers also climbed, including Tetraphase (TTPH), which rose $2.45, or 8.82%, to $30.24, and Cempra (CEMP), which advanced $1.64, or 11.37%, to $16.06, while shares of Merck finished fractionally higher, adding 39c, or 0.63%, to $61.88 following the deal announcement. MAJOR MOVERS: Among the notable gainers following their presentations at the American Society of Hematology, or ASH, annual meeting were Calithera Biosciences (CALA), which gained $2.38, or 22.52%, to $12.95, and Acceleron Pharma (XLRN), which jumped $5.11, or 13.6%, to $42.67. Among the noteworthy losers was McDonald's (MCD), which fell $3.70, or 3.84%, to $92.61 after the Dow member reported a 2.2% decline in global same-restaurant sales in November. Additionally, the fast-food giant warned that its fourth quarter results would be hurt by its sales pressures, supplier issues in China and a stronger U.S. dollar. Also lower were shares of Liquidity Services (LQDT), which plunged $2.77, or 27.0%, to $7.49 after the company disclosed that Wal-Mart (WMT) had terminated a deal to provide it with surplus merchandise. INDEXES: The Dow fell 106.31, or 0.59%, to 17,852.48, the Nasdaq dropped 40.06, or 0.84%, to 4,740.69, and the S&P 500 slipped 15.06, or 0.73%, to 2,060.31.
12:40 EDTMCDOn The Fly: Midday Wrap
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11:30 EDTMYLLeerink generics pharmaceutical analyst holds analyst/industry conference call
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10:42 EDTRPTPOptions with increasing implied volatility
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10:08 EDTMCDMcDonald's falls on weak November sales, levels to watch
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09:48 EDTMCDMarket begins lower, averages turns mixed in early trade
Stock futures trade below fair value throughout the pre-market trading session, leading to a lower open for the broader market. The Dow finished last week at an all-time high and just slightly below its next milestone level of 18,000, but it continues to be weighed on during early trading from McDonald's (MCD), which is down over 3% following its November sales report. In early trading, the Dow is down 17 points, the Nasdaq is up 7 points and the S&P is down 1 point.
09:38 EDTMCDMcDonald's sees Q4 margins 'significantly pressured' by top-line performance
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09:20 EDTMCDOn The Fly: Pre-market Movers
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07:59 EDTMCDMcDonald's reports November global comparable sales decreased 2.2%
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06:42 EDTMCDMcDonald's coverage resumed with a Neutral at Goldman
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December 5, 2014
10:05 EDTMYLBristol-Myers jumps 2% amid talk of potential Pfizer bid
Shares of Bristol-Myers (BMY) are up in early trading amid chatter of a potential takeover bid from Pfizer (PFE). The stock is up $1.26 to $60.15. Bristol's market capitalization stands around $99B, less than twice that of Pfizer's $200B. A Jefferies analyst last week called Mylan (MYL) the most likely takeover target for Pfizer. Pfizer is "highly motivated" to buy a foreign company using its overseas cash and Mylan looks like the most likely target, Jefferies analyst Jeffrey Holford wrote.
08:12 EDTMELIMercadoLibre management to meet with Deutsche Bank
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