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Stock Market & Financial Investment News

News For MDT;COV;INTC;BSX;VRTX;JNJ From The Last 14 Days
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July 1, 2015
16:33 EDTJNJGilead submits NDA to FDA for single tablet regimen for HIV containing R/F/TAF
Gilead Sciences (GILD) announced that it has submitted a New Drug Application, or NDA, to the FDA for an investigational, once-daily single tablet regimen that combines Gileadís emtricitabine 200 mg and tenofovir alafenamide, or TAF, 25 mg with rilpivirine 25 mg, or R/F/TAF, from Janssen Sciences Ireland UC, one of the Janssen Pharmaceutical Companies of Johnson & Johnson (JNJ), for the treatment of HIV-1 infection in adult and pediatric patients 12 years of age and older. The data submitted in the NDA support the use of R/F/TAF among patients who are HIV treatment-naÔve or who are virologically suppressed and want to replace their current antiretroviral treatment regimen. A Priority Review voucher acquired from Knight Therapeutics in November 2014 was submitted to the FDA along with the R/F/TAF NDA. Under the Prescription Drug User Fee Act, or PDUFA, the anticipated target action date for the R/F/TAF NDA is six months after the FDAís acceptance of the filing. TAF is a novel, investigational nucleotide reverse transcriptase inhibitor, or NRTI, that has demonstrated high antiviral efficacy at a dose less than one-tenth that of Gileadís Viread, as well as improved renal and bone laboratory parameters as compared to TDF in clinical trials in combination with other antiretroviral agents. In addition to R/F/TAF, two other TAF-based HIV treatments are also under FDA review.
June 30, 2015
07:32 EDTVRTXVertex should get Orkambi approval by Monday or sooner, says Piper Jaffray
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05:59 EDTINTCGartner: Worldwide IT spending on pace to decline 5.5% in 2015
Worldwide IT spending is on pace to total $3.5T in 2015, a 5.5% decline from 2014, according to the latest forecast by Gartner, Inc. Analysts attribute the decline to the rising U.S. dollar. In constant-currency terms, the market is projected to grow 2.5%. In Gartner's previous forecast in April, it had forecast IT spending to decline 1.3% in U.S. dollars and grow 3.1% in constant currency. "We want to stress that this is not a market crash. Such are the illusions that large swings in the value of the U.S. dollar versus other currencies can create," said John-David Lovelock, research vice president at Gartner. "However, there are secondary effects to the rising U.S. dollar. Vendors do have to raise prices to protect costs and margins of their products, and enterprises and consumers will have to make new purchase decisions in light of the new prices." Communications services will continue to be the largest IT spending segment in 2015 with spending at nearly $1.5T. However, this segment is also experiencing the strongest decline among the five IT sectors. In the device market, mobile phones continue to be the leading segment, with growth in Apple phones, especially in China, keeping overall phone spending consistent. However, overall smartphone unit growth will start to flatten. The PC and tablet market continues to weaken. The expected 10 percent increase in average PC pricing in currency-impacted countries is going ahead, delaying purchases even more than expected. Excessive PC inventory levels, especially in Western Europe, need to be cleared, which will delay Windows 10 inventory in the second half of the year. Within the data center systems segment, storage and network markets are both expected to see weaker growth in U.S. dollar terms as a result of the appreciation of the U.S. dollar. Reference Link
05:58 EDTINTCIntel 28nm SoFIA 4G AP delayed to early 2016, DigiTimes reports
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June 29, 2015
18:13 EDTMDTMedtronic says AHA/ASA recommends stent retriever technology
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15:28 EDTVRTXVertex management to meet with UBS
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11:03 EDTINTCAnalyst says sell Qualcomm ahead of predicted price cuts
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07:47 EDTVRTXCerulean appoints Stuart A. Arbuckle to board of directors, effective June 26
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06:08 EDTINTCIntel estimates lowered at Pacific Crest
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June 26, 2015
16:16 EDTINTCOn The Fly: Top stock stories for Friday
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16:00 EDTINTCOptions Update; June 26, 2015
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09:41 EDTINTCIntel falls after weak Micron results and outlook
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09:36 EDTINTCActive equity options trading on open
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07:14 EDTINTCIntel estimates lowered following Micon report at Jefferies
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June 25, 2015
17:56 EDTINTCMicron plunges after Q3 results, guidance impacted by PC headwinds
Shares of PC related memory chip maker Micron Technology (MU) are plunging after reporting third quarter financial results and fourth quarter guidance that missed analyst expectations. WHAT'S NEW: After the close, Micron reported Q3 earnings per share of 54c on revenue of $3.85B, both shy of analyst estimates of 56c and $3.9B, respectively. Citing "near-term headwinds driven primarily by weakness in PC sector," Micron gave a fourth quarter revenue view of $3.45B-$3.7B which was significantly lower than analyst expectations of $4.16B. WHAT'S NOTABLE: On the company's earnings conference call, Micron said, consistent with prior expectations, "We are forecasting DRAM industry supply bit growth in the mid-20s in calendar 2015 and in the low-to-mid 20s in 2016." The company said it sees DRAM gross margins for Q4 down mid-single digits sequentially. Additionally, the chip maker said it sees Q4 DRAM bit growth flat to up low single digits. ANALYST TAKE: On June 22, Micron was downgraded to Sell from Neutral at Goldman Sachs. Goldman analyst Mark Delaney downgraded Micron Technology to Sell saying rising DRAM supply will lower selling prices and contract margins. Delaney expects DRAM prices to drop up to 30% over the next three quarters and cut his price target for shares to $19 from $27. On the same day, JP Morgan lowered its price target on Micron shares to $33 from $37. The firm also lowered its estimates for Micron citing lower than anticipated DRAM pricing in the past three months. The firm, however, kept an Overweight rating on Micron, saying improving demand in other segments like mobile and the company's decision to not hold inventory during Q3 should help offset the DRAM weakness. PRICE ACTION: Shares of Micron are lower by 11.5% in after- hours trading to $21.25. OTHER PC RELATED STOCKS: In after-hours trading, PC related chip makers are also lower, with Intel Corporation (INTC) down 0.9%, NVIDIA (NVDA) lower by 1.1%, and AMD (AMD) down fractionally. Others trading lower include Microsoft (MSFT), SanDisk (SNDK), Hewlett-Packard (HPQ), and Seagate (STX).
11:03 EDTMDTMedtronic announces U.S. launch of Advisa SR MRI SureScan pacing system
Medtronic announced the U.S. FDA approval and commercial launch of the Advisa SR MRI SureScan single-chamber pacemaker with the 5076 MRI lead, which allows for magnetic resonance imaging scans positioned on any region of the body without restrictions. The new system includes the Advisa SR MRI pacemaker and a SureScan lead, which must be used together to be considered MR- conditional.
09:34 EDTINTCActive equity options trading on open
Active equity options trading on open: AAPL FB NFLX AMZN BAC CVX TWTR INTC GILD BBBY
09:23 EDTMDTMedtronic announces resignation of Christopher O'Connell
Medtronic (MDT) announced in a regulatory filing that Christopher J. OíConnell is resigning as the companyís EVP and President, Restorative Therapies Group. The company also announced the appointment of Geoff Martha as the companyís EVP and President, Restorative Therapies Group, effective immediately. The Fly notes that Waters (WAT) this morning named O'Connell as its new president, CEO and member of its Board of Directors, effective in September.
09:15 EDTMDTWaters names Christopher O'Connell as CEO, effective in September
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June 24, 2015
17:57 EDTINTCWall Street applauds Senate giving go-ahead for 'fast track' trade powers
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11:01 EDTINTCHoneywell and Intel to collaborate for Internet of Things security
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09:35 EDTINTCActive equity options trading on open
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June 23, 2015
17:03 EDTMDTMedtronic implements voluntary recall for certain lots of Covidien Shiley tubes
Medtronic announced that on May 8, it began notifying hospitals and distributors worldwide that affected lots of its Covidien Shiley tracheostomy tubes were formed with a wider-angle bend than standard models manufactured after November 29, 2012. The company initiated the field action following a small number of customer complaints that included reports of 12 serious patient injuries, such as breathing difficulties that impacted oxygen levels immediately upon tube placement or discomfort. Replacement of the tracheostomy tube with product manufactured prior to November 29, 2012 addressed the patient breathing difficulty or discomfort. The notification requested all customers and distributors to quarantine and discontinue use of all potentially affected units and return the affected product to the company as soon as possible for credit. Medtronic also took the necessary steps to prevent future shipments of the recalled products. The company also notified regulatory agencies around the world, as appropriate. Since November 29, 2012, Shiley tracheostomy tubes were shipped into Australia, Belgium, Canada, Chile, Germany, Israel, Italy, Japan, Saudi Arabia, Singapore, South Africa, Turkey, Uruguay and the United States of America.
12:54 EDTINTCPC concerns weighing on shares of Seagate, Western Digital
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12:35 EDTBSXBoston Scientific CEO says M&A an important strategy
Boston Scientific CEO is speaking in a CNBC interview.
11:20 EDTMDTMedtronic competitive with Edwards after approval, says Wells Fargo
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09:22 EDTMDTMedtronic announces FDA approval for new TAVR system
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07:41 EDTINTCRed Hat to hold a summit
Red Hat Summit 2015 is being held in Boston on June 23-26 with webcasted company presentations to begin on June 23 at 4 pm; not all presentations may be webcasted. Webcast Link
07:25 EDTBSX, COV, MDTPiper Jaffray to hold a summit
2015 Piper Jaffray Heartland Summit is being held in Minneapolis on June 23-24.
06:05 EDTINTCIntel pushing into SSD market and hope to surpass Samsung in 2016, DigiTimes says
Intel (INTC) is looking to push into the SSD market with its newest 750 series SSDs with technology able to enhance the transmission speed, reports DigiTimes. According to sources from the upstream supply chain, the company is also offering price cuts on its existing products in order to narrow its gap with the largest vendor Samsung (SSNLF). Sources also expect Intel to draw near to Samsung in 2H15 and may even have a chance to surpass Samsung in 2016. Reference Link
06:05 EDTINTCNo clear prospects for PC component suppliers until July, DigiTimes reports
There are no clear business prospects for PC component suppliers until July, reports DigiTimes. According to sources in the supply chain, Intel's decision to delay the launch of its Skylake platform has weakened market demand for notebooks and other PC systems. The planned release of Microsoft (MSFT) Windows 10 may also affect the production of PC makers. Reference Link
June 22, 2015
09:40 EDTINTCActive equity options trading on open
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09:04 EDTBSXBoston Scientific initiates study to assess EMBLEM S-ICD
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08:35 EDTINTCKopin divests interest in Recon Instruments
Kopin (KOPN) said it had divested its equity interest in Recon Instruments as part of Intel Corporationís (INTC) acquisition of Recon. Kopin anticipates that it will receive approximately $6M in cash proceeds for its equity interest, subject to certain closing conditions including a working capital adjustment.
June 21, 2015
16:32 EDTINTCAMD considers spinoff or break-up, Reuters says
AMD (AMD) has hired a consulting firm to help it review a potential split or spinoff, Reuters reported late Friday, citing three people familiar with the matter. Reuters notes that AMD may be seeking to better compete with Intel (INTC), and sources said one option being considered is to separate AMD's server business from its graphics and licensing arm. Though the company had previously decided against such an option, sources noted that CEO Lisa Su believes the move is worth reconsidering. Reference Link
12:42 EDTMDTMedtronic reports five-year follow-up results for Endurant AAA stent graft
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June 19, 2015
17:02 EDTMDTMedtronic acquires Aptus Endosystems for $110M
Medtronic announced it has acquired the assets of Aptus Endosystems, a Sunnyvale, Calif. based, privately held medical device company focused on developing advanced technology for endovascular aneurysm repair and thoracic endovascular aneurysm repair. Medtronic completed its acquisition of the assets of Aptus Endosystems in a transaction valued at approximately $110M. Additional terms of the acquisition were not disclosed.
09:23 EDTMDTMedtronic acquires CardioInsight Technologies
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09:21 EDTMDTMedtronic approves repurchase of addition 80M shares
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09:20 EDTMDTMedtronic raises quarterly dividend by 25% to 38c per share
The board of Medtronic approved a 25% increase in its cash dividend for FY16, raising the quarterly amount to 38c per ordinary share for an annual amount of $1.52 per ordinary share. The dividend is payable on July 17, to shareholders of record at the close of business on June 29.
06:26 EDTINTCIntel CEO confirms recent reports of layoffs, The Oregonian reports
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June 18, 2015
13:05 EDTBSXBoston Scientific management to meet with Piper Jaffray
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05:56 EDTINTCIntel to debut Skylake at Gamescon in early August, DigiTimes reports
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June 17, 2015
12:11 EDTINTCIntel acquires Recon, terms not disclosed
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07:21 EDTJNJGeneric ADHD drugs still sold despite FDA non-equivalance finding, NYT reports
The FDA announced last November that two generic versions of Johnson & Johnson's (JNJ) Concerta ADHD drug, one made by Mallinckrodt (MNK) and the other by UCB, could no longer be considered the equivalent of the branded drug after tests and analyses suggested that their effectiveness began to wear off much more quickly, but the drugs are still being sold despite an FDA mandated deadline having passed for the companies to either prove the drugs were equivalent or remove them from the market, said The New York Times. The report noted a third generic product, sold by Actavis (AGN), was found to be equivalent to the branded Concerta. Reference Link
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