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Stock Market & Financial Investment News

News Breaks
January 30, 2013
05:55 EDTAVEO, AVEO, CAH, CAH, ABC, ABC, AET, AET, CVS, CVS, BMY, BMY, JPM, JPM, MCK, MCK, CLSN, CLSNCBI to host a forum
6th Annual Forum on Oncology Market Access & Payer Strategies is being held in Philadelphia on January 30-31.
News For MCK;CLSN;AVEO;CAH;ABC;AET;CVS;BMY;JPM From The Last 14 Days
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November 11, 2014
12:29 EDTCAHCardinal Health management to meet with William Blair
Meeting to be held in Toronto on November 12 hosted by William Blair.
10:00 EDTJPMOn The Fly: Analyst Downgrade Summary
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09:17 EDTAVEOOn The Fly: Pre-market Movers
UP AFTER EARNINGS: FMSA Holdings (FMSA), up 4.7% following third quarter results. ALSO HIGHER: AVEO Pharmaceuticals (AVEO), up 7.6% after entering agreement with Ophthotech (OPHT) to license tivozanib... Ophthotech is 2.1% higher in pre-market trading... Galena Biopharma (GALE), up 3.6% after first patient dosed in NeuVax and Herceptin combination Phase 2 trial... Yamana Gold (AUY), up 3% after being upgraded to Overweight from Neutral at HSBC... Ambac Financial (AMBC), up 3.1% after being upgraded to Neutral from Sell at MKM Partners... China Finance (JRJC), up 12.4% after announcing a new partnership with Great Wall Securities... Zynga (ZNGA), up 5.7% after being upgraded on mobile business growth at Jefferies... Fiat Chrysler (FCAU), up 2.2% after being initiated with a Conviction Buy at Goldman. DOWN AFTER EARNINGS: Applied Optoelectronics (AAOI), down 10.7%... Ekso Bionics (EKSO), down 2.2%. ALSO LOWER: Alibaba Group (BABA), down 1.6% following comments made by vice chairman Joseph Tsai in an interview.
08:06 EDTCLSNCelsion reports Q3 EPS (35c), consensus (32c)
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06:44 EDTAVEOAveo Pharmaceuticals enters into agreement with Ophthotech for VEGF
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06:39 EDTJPMJPMorgan downgraded on valuation at Keefe Bruyette
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06:37 EDTAVEOOphthotech enters into with Aveo Pharmaceuticals to license tivozanib
Ophthotech (OPHT) has entered into an exclusive research and option agreement with Aveo Pharmaceuticals (AVEO) to license tivozanib, a small molecule vascular endothelial growth factor, or VEGF, tyrosine kinase inhibitor, for the treatment of non-oncologic conditions of the eye. Under the terms of the agreement, Ophthotech will pay an upfront fee of $500,000 for exclusive rights to investigate this compound’s potency and potential as an ocular formulation. Ophthotech is solely responsible for the ocular formulation and development of this compound, which will focus initially on a sustained release formulation as a treatment for the maintenance phase of wet AMD therapy. Under the agreement, upon completion of Ophthotech’s initial analysis, if Ophthotech elects to continue the development of an ocular formulation of this anti-VEGF therapy, Ophthotech will pay additional fees based upon Ophthotech’s submission of an Initial New Drug application and upon the demonstration of proof of concept in humans. If Ophthotech exercises its option for an exclusive worldwide license for the compound for ocular indications, Ophthotech will pay a license fee, and development, regulatory and sales-based milestones, if achieved, as well royalties on commercial sales.
05:47 EDTJPMJPMorgan downgraded to Market Perform from Outperform at Keefe Bruyette
Keefe Bruyette downgraded JPMorgan to Market Perform with a $64 price target.
November 10, 2014
15:53 EDTMCK, BMYCredit Suisse to hold a conference
Healthcare Conference is being held in Scottsdale, Arizona on November 10-13 with webcasted company presentations to begin on November 11 at 10:30 am; not all company presentations may be webcasted. Webcast Link
15:17 EDTJPMCFPB may require added disclosures on prepaid cards, WSJ says
The Consumer Financial Protection Bureau is expected to propose new rules later this week that will require more disclosure for prepaid debit cards and cracking down on allowing consumers to spend more money on the cards than they have, according to The Wall Street Journal, citing people familiar with the matter. The rules come as traditional financial institutions, such as JPMorgan (JPM) and American Express (AXP) have moved into the business and the industry’s biggest players don’t allow overdrafts so it is unclear whether the new rules will dent industry profits, the report said. Green Dot (GDOT) also does not permit overdrafts and Visa (V) recently excluded overdraft abilities in guidelines for its prepaid cards, the report added. Reference Link
10:06 EDTAETAetna selected for new Louisiana Medicaid contract
Aetna Better Health of Louisiana, an Aetna health plan established to administer managed Medicaid services in Louisiana, has been selected by the State Department of Health & Hospitals to provide access to health care for eligible Louisianans. The three-year contract is scheduled to take effect Feb. 1, 2015.
08:46 EDTAETAetna price target raised to $99 from $90 at Jefferies
Jefferies raised its price target for Aetna shares to $99 after meeting with management and keeps a Buy rating on the stock. The firm believes Aetna's 2015 earnings growth can top the consensus of 10%.
07:19 EDTCAHCredit Suisse to hold a conference
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06:46 EDTJPMRegulators set new capital buffer rule for banks, Reuters reports
Global banks should have buffers of bonds or equity worth 16%-20% of their risk-weighted assets, beginning in January 2019, The Financial Stability Board decided, according to Reuters. The board said the buffer would prevent the need for government bailouts, the news service explained. Publicly traded global banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) Wells Fargo (WFC), Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
06:18 EDTJPMUBS to settle misconduct allegations at precious metals trading unit, FT reports
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November 9, 2014
15:45 EDTBMYBristol-Myers announces daclatasvir data from the UNITY trial program
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12:40 EDTBMYBristol-Myers announces data from ALLY trial investigating daclatasvir
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11:45 EDTBMYBristol-Myers announces data from the UNITY trial program
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November 7, 2014
14:14 EDTAETACA subsidies look likely to be upheld, says UBS
After the Supreme Court agreed to hear a lawsuit challenging the government's right to pay ACA subsidies through the federal exchange, UBS says "it seems quite likely" that the subsidies will be upheld. The firm says that most experts expect a majority of justices to adopt the view that the law's intent was to expand coverage as widely as possible. Publicly traded hospital owners include Community Health (CYH), HCA Holdings (HCA), LifePoint Hospitals (LPNT), Tenet (THC) and Universal Health (UHS).Publicly traded health insurers include AMERIGROUP (AGP), Aetna (AET), Centene (CNC), Cigna (CI), Health Net (HNT), Healthspring (HS), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH), WellCare (WCG) and WellPoint (WLP).
10:30 EDTJPMJPMorgan eliminates 3K additional retail bank division staff, Reuters says
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