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August 8, 2014
12:34 EDTRPTP, MYL, MCD, MELI, NWSA, IRG, NVDAOn 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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November 29, 2015
19:31 EDTNWSAMurdoch says Tribune newspaper group likely to be acquired
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November 27, 2015
14:08 EDTRPTPOptions with decreasing implied volatility
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10:39 EDTRPTPOptions with decreasing implied volatility
Options with decreasing implied volatility: SRPT PTCT BMRN CSC JMEI BOFI RPTP HZNP BURL
November 25, 2015
16:01 EDTMCDOptions Update; November 25, 2015
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10:22 EDTRPTPOptions with decreasing implied volatility
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06:04 EDTMYLMylan and Perrigo set to face-off over potential targets, Bloomberg reports
Mylan (MYL) will likely find itself now competing with Perrigo (PRGO) for other assets, reports Bloomberg. According to Bloomberg Intelligence analyst Elizabeth Krutoholow, both companies may look to buy Impax Laboratories (IPXL), Stada Arzneimittel or Taro Pharmaceutical Industries (TARO). All of the potential targets are attractive due to their over-the-counter products. Reference Link
November 24, 2015
08:02 EDTMCDMcDonald's Wendy's poised to gain share from Burger King, says Wells Fargo
Wells Fargo believes that value offerings from Wendy's (WEN0 and McDonald's (MCD) will enable the companies to gain market share from Burger King (QSR).
07:33 EDTMYLMylan launches Clozapine Orally Disintegrating Tablets in the U.S.
Mylan (MYL) announced the U.S. launch of Clozapine Orally Disintegrating Tablets, 25 mg and 100 mg, the generic version of Jazz Pharmaceutical's FazaClo (JAZZ). Mylan received final approval from the FDA for its Abbreviated New Drug Application, or ANDA, for this product, which is used for the treatment of severely ill patients with schizophrenia who fail to respond adequately to standard antipsychotic treatment.
November 20, 2015
13:00 EDTNWSADow Jones, Pearson to sell stakes in Vedomosti
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07:32 EDTMYLMylan completes acquisition of certain businesses from Famy Care
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06:16 EDTMCDMcDonald's to pay $355K in penalties to settle immigration discrimination suit
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November 19, 2015
15:29 EDTMYLMylan confirms first-to-file patent challenge relating to Delzicol
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13:52 EDTMYLMylan announces U.S. launch of generic Adderall tablets
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November 18, 2015
08:22 EDTMYLMylan resinstated with an Overweight at JPMorgan
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08:19 EDTNVDARBC Capital to hold a tour
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06:02 EDTMYLPerrigo upgraded to Buy from Neutral at B. Riley
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November 17, 2015
16:32 EDTIRGIgnite Restaurant appoints Robert Merrit as CEO
Ignite Restaurant Group announced that Robert S. Merritt has been named CEO, effective November 17. Merritt will succeed Raymond A. Blanchette, III, who left Ignite Restaurant Group to pursue other opportunities. Merritt's career in the restaurant industry has spanned over three decades. He was an original member of the senior management team of Outback Steakhouse where he oversaw their initial public offering and helped to expand the company's initial operations from five restaurants in Florida in 1990 to over 1250 restaurants in 22 countries by his retirement in 2005.
10:11 EDTMYLOptions with decreasing implied volatility
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07:34 EDTMYLMylan launches Almotriptan Tablets USP in the U.S.
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06:12 EDTMCDMcDonald's to launch "McPick 2" menu on January 4, WSJ says
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