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Stock Market & Financial Investment News

News Breaks
April 1, 2014
05:38 EDTMDCO, HSPThe Medicines Co. provides update on Angiomax patent litigation
On March 31, Judge Andrews in the U.S. District Court of Delaware issued his Trial Opinion in The Medicines Company v. Hospira, Inc. The case involves Hospira's (HSP) Abbreviated New Drug Applications, or ANDAs, seeking approval to commercially manufacture, use or sell a generic version of The Medicines Company's (MDCO) Angiomax bivalirudin drug product before the expiration of the patents covering this product. The Delaware Decision follows a September 23-25, 2013 bench trial. With respect to patent validity, the Court held that the two patents in the case, U.S. Patent Nos. 7,582,727 and 7,598,343 were valid on all grounds. Specifically, the Court found that Hospira had failed to prove that the patents were either anticipated and/or obvious. The Court further held that the patents satisfied the written description requirement, were enabled and were not indefinite. With respect to infringement, based on its July 2013 Markman Decision, the Court found that Hospira's ANDAs did not meet the "efficient mixing" claim limitation and thus did not infringe the asserted claims of the '727 and '343 patents. The Court found that the other claim limitations in dispute were present in Hospira's ANDA products. The Court has not yet entered a final judgment. Any appeal to the Court of Appeals for the Federal Circuit would need to be filed within 30 days of such entry. The '727 and '343 patents expire in 2028.
News For MDCO;HSP From The Last 14 Days
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August 31, 2015
08:10 EDTMDCOThe Medicines Co. price target raised to $45 from $34 at JPMorgan
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07:45 EDTMDCORegeneron should be bought on any pullbacks, says RBC Capital
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07:43 EDTMDCOThe Medicines Co. price target raised to $42 from $32 at Citi
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07:38 EDTMDCOThe Medicines Co. price target raised to $46 from $39 at RBC Capital
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07:31 EDTMDCOThe Medicines Company names Fred Eshelman non-executive chairman
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August 30, 2015
15:50 EDTMDCOAlnylam, The Medicines Co. say ALN-PCSsc reduces LDL cholesterol as much as 83%
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August 28, 2015
16:17 EDTHSPOn The Fly: Top stock stories for Friday
Stocks slipped at the open as the futures once again were influenced by the volatile overnight trading session in China. The averages began to recover shortly after the open and turned mixed by midday. Comments from Fed Vice Chairman Stanley Fisher about the central bank being open to a possible rate hike in September took some momentum out of the market. As the volume slowed and the news flow went silent, the volatility increased and the averages headed lower only to rebound before the close, but the trading was still remarkably calm when compared to the wide swings seen in the market in the earlier sessions of this week. ECONOMIC EVENTS: In the U.S., personal income rose 0.4% in July, as expected, with consumer spending up 0.3%, which was below the 0.4% consensus growth forecast. The University of Michigan consumer sentiment reading for August was revised down to 91.9 from the 92.9 preliminary reading, versus expectations for it to be bumped up to 93.0. Baker Hughes reported the U.S. rig count is down 8 rigs from last week to 877. WTI crude oil prices added another 6% today to yesterday's 10% rally, closing at $45.22 a barrel on Friday. U.S. crude closed with a weekly gain of 11.8%, marking its first advance in 10 weeks and best week in six years. The Federal Reserve may still raise its benchmark interest rate in September, Fed vice chairman Stanley Fischer said in an interview with CNBC, noting that Fed committee members "haven't made a decision yet" and have "time to wait and see," because the next policy-making meeting won't happen until the middle of next month. COMPANY NEWS: Shares of cancer drug maker ARIAD (ARIA) surged $2.91, or 41.69%, to $9.89 after Bloomberg reported that industry peer Baxalta (BXLT) is in takeover talks with the smaller company to boost its oncology pipeline. Baxalta, which had recently turned down a merger offer from Shire (SHPG), fell $1.18, or 3.24%, to $35.25 following the report... In other pharmaceutical industry M&A news, Mylan (MYL) shareholders voted to approve the company's proposed acquisition of Perrigo (PRGO) and the related issuance of Mylan ordinary shares. Afterward, Perrigo CEO Joseph Papa said he was confident that most of his company's shareholders believe that Mylan's offer substantially undervalues Perrigo and would dilute its "growth profile and superior valuation"... Video game maker Activision Blizzard (ATVI) and airline owner United Continental (UAL) both advanced sharply, rising 4.62% and 6.93%, respectively, after each had their shares selected to join the S&P 500. Activision will replace Pall Corp. (PLL) in the S&P 500 after the close of trading tonight, while United will replace Hospira (HSP) in the index after the close of trading on Wednesday, September 2. MAJOR MOVERS: Among the notable gainers was Big Lots (BIG), which advanced $6.58, or 15.67%, to $48.58 after the discount retailer reported better than expected quarterly results and lifted its fiscal year guidance. Among the noteworthy losers after their quarterly reports were video game retailer GameStop (GME), which slid $3.71, or 8.03%, to $42.49, and design software and services company Autodesk (ADSK), which fell $2.48, or 4.96%, to $47.52. INDEXES: The Dow fell 11.76, or 0.07%, to 16,643.01, the Nasdaq gained 15.62, or 0.32%, to 4,828.33, and the S&P 500 advanced 1.21, or 0.06%, to 1,988.87.
12:59 EDTMDCOFly Watch: Medicines Co., Alnylam rise ahead of cholesterol study presentation
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12:50 EDTHSPOn The Fly: Top stock stories at midday
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10:13 EDTMDCOHigh option volume stocks
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10:02 EDTMDCOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADP (ADP) upgraded to Outperform from Market Perform at William Blair... ASML (ASML) upgraded to Buy from Hold at Berenberg... Abercrombie & Fitch (ANF) upgraded on Hollister fundamentals at RBC Capital... Akamai (AKAM) upgraded to Outperform from Market Perform at JMP Securities... Ares Capital (ARCC) upgraded to Outperform from Market Perform at Raymond James... Banco Santander (SAN) upgraded on valuation at Deutsche Bank... CIBC (CM) upgraded to Neutral from Underperform at Credit Suisse... Canon (CAJ) upgraded to Hold from Sell at Deutsche Bank... Citi (C) upgraded to Buy from Neutral at Guggenheim... Ctrip.com (CTRP) upgraded to Buy from Hold at Stifel... El Pollo Loco (LOCO) upgraded at Stifel... Genomic Health (GHDX) upgraded to Market Perform from Underperform at Raymond James... Golar LNG (GLNG) upgraded on valuation, upcoming project completion at Stifel... Habit Restaurants (HABT) upgraded to Buy from Hold at Stifel... Helmerich & Payne (HP) upgraded to Overweight from Equal Weight at Stephens... Himax (HIMX) upgraded to Outperform from Neutral at Credit Suisse... Huntington Bancshares (HBAN) upgraded to Buy from Neutral at Guggenheim... InterContinental (IHG) upgraded to Outperform from Neutral at Credit Suisse... Knight Transportation (KNX) upgraded to Strong Buy on valuation at Raymond James... LogMeln (LOGM) upgraded to Overweight from Sector Weight at Pacific Crest... Patterson Companies (PDCO) upgraded to Overweight from Neutral at Piper Jaffray... Qunar (QUNR) upgraded on valuation, positive catalysts at Stifel... Regions Financial (RF) upgraded to Buy from Neutral at Guggenheim... Ryder (R) upgraded to Strong Buy from Outperform at Raymond James... SVB Financial (SIVB) upgraded to Buy from Neutral at DA Davidson... Seagate (STX) upgraded to Buy from Hold at Cross Research... Sinopec (SNP) upgraded to Neutral from Sell at Citi... Summit Hotel Properties (INN) upgraded to Outperform at Baird... Texas Capital (TCBI) upgraded to Buy from Neutral at DA Davidson... The Medicines Co. (MDCO) upgraded to Buy from Hold at Jefferies... U.S. Bancorp (USB) upgraded to Buy from Neutral at Guggenheim... Weatherford (WFT) upgraded to Overweight from Equal Weight at Stephens.
06:35 EDTMDCOThe Medicines Co. upgraded to Buy from Hold at Jefferies
Jefferies upgraded The Medicines Co. to Buy and increased its price target to $43 from $29. The firm said company has multiple data readouts for pipeline assets over the next 12-18 months starting with PI data from ALN-PCSsc in patients with elevated LDL on Sunday morning. Jefferies also highlighted the ongoing TANGO 1 trial comparing Carbavance to piperacillin-tazobactam in 850 patients with complicated urinary tract infection with data expected in mid-2016 that should also support its thesis.
August 27, 2015
17:38 EDTHSPS&P announces changes to S&P 500 index
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17:18 EDTHSPUnited Continental to replace Hospira in S&P 500 as of 9/2 close
06:55 EDTHSPHospira sees merger closing on or about September 3
Hospira (HSP) said in a regulatory filing that on August 21, Hospira and Pfizer (PFE) received clearance from the U.S. FTC, relating to the pending merger of Hospira with Perkins Holding Company, a wholly-owned subsidiary of Pfizer. All required regulatory approvals have now been secured, though the merger remains conditioned upon the expiration of a post-clearance waiting period in one foreign jurisdiction. Hospira expects the merger to close on or about September 3.
August 25, 2015
09:26 EDTHSPHospira, Cerner expand IV-EMR integration agreement
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August 24, 2015
12:57 EDTHSPFTC requires Pfizer to sell rights to four products as condition of buying Hospira
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11:43 EDTMDCOThe Medicines Co. and Alnylam Pharmaceuticals hold a joint conference call
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08:01 EDTHSPPfizer receives clearance from FTC for Hospira acquisition
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August 20, 2015
05:26 EDTHSPHospira announces approval of Inflectra in Australia
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