New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News For MEDI;PFE;CELG;PRXL;ACOR;NPSP;ALKS;AZN;TEVA From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
<< 1 | 2 | 3 | 4 | 5 | 6 | all recent news | >>
July 28, 2015
12:31 EDTPFEOn The Fly: Top stock stories at midday
Stocks on Wall Street began the session in positive territory but turned mixed a short time after the open. The averages gathered themselves again and began an upward drift about an hour into trading, leaving markets near session highs around noon as stocks try to break their string of five consecutive lower closes. ECONOMIC EVENTS: In the U.S., the Case Shiller 20-city home price index rose 1.1% in May to 179.03, missing a forecast for it to rise 1.7% to 180.2. Markit's services PMI for July rose to 55.2, above the expected 55.0 reading. The Richmond Fed factory index rose to 13.0 in July from an upwardly revised 7 in June. Consumer confidence fell to 90.9 in July, down from a revised 99.8 figure for last month and below the expected reading of 100. In China, the Shanghai composite index closed down 1.7%, but only after a volatile session that saw it down as much as 5.1% and up about 1% at different points in the trading day. In Europe, U.K. GDP growth in the second quarter came in at 0.7%, matching the consensus expectation. COMPANY NEWS: Earnings season continued in earnest with UPS (UPS), Ford (F), Pfizer (PFE) and Merck (MRK) each reporting better than expected quarterly profits. UPS, which said its quarterly results gave it confidence in achieving the upper end of its earnings guidance range for the fiscal year, rose more than 5%. Pfizer and Merck each raised their fiscal year earnings guidance ranges, but Pfizer advanced 1.7% following its report while Merck slid nearly 0.5%. Ford, meanwhile, gained 1.8% after backing its fiscal year pre-tax profit view and repeating that it still expects the second half of the year to be stronger than the first half. MAJOR MOVERS: Among the notable gainers was Supervalu (SVU), which jumped 19% after the company reported better than expected first quarter results and also announced that it is exploring a separation of its Save-A-Lot business into a stand-alone, publicly traded company. Also higher was GrubHub (GRUB), which gained over 5% after reporting better than expect top and bottom line results in its second quarter and issuing 2015 guidance that analysts at Stifel said "appears conservative." Among the noteworthy losers was Immunomedics (IMMU), which tumbled 34% after the company's partner, UCB, announced that two Phase 3 clinical studies for epratuzumab in Systemic Lupus Erythematosus did not meet their primary clinical efficacy endpoints in either dose in both studies. Also lower following its earnings reports was Baidu (BIDU), which fell 16.5% and was downgraded by at least four research firms. INDEXES: Near midday, the Dow was up 136.13, or 0.78%, to 17,576.72, the Nasdaq was up 36.37, or 0.72%, to 5,076.14, and the S&P 500 was up 19.42, or 0.94%, to 2,087.06.
10:00 EDTTEVAOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Aegerion (AEGR) upgraded to Buy from Hold at Jefferies... Ameren (AEE) upgraded to Neutral from Sell at Goldman... AutoNation (AN) upgraded to Buy from Neutral at Sterne Agee CRT... Beacon Roofing (BECN) upgraded to Outperform at Baird... BlackBerry (BBRY) upgraded to Equal Weight from Underweight at Morgan Stanley... Bojangles (BOJA) upgraded to Buy from Neutral at SunTrust... Boyd Gaming (BYD) upgraded to Neutral from Underperform at BofA/Merrill... Columbus McKinnon (CMCO) upgraded to Buy from Neutral at Sidoti... Danaher (DHR) upgraded to Overweight from Equal Weight at Morgan Stanley... Emerald Oil (EOX) upgraded to Hold from Sell at Wunderlich... Haemonetics (HAE) upgraded Outperform from Market Perform at Barrington... Jefferies sees entry point for Aegerion (AEGR), upgrades to Buy... Philips (PHG) upgraded to Buy from Hold at Societe Generale... Plum Creek Timber (PCL) upgraded to Buy from Neutral at DA Davidson... Raytheon (RTN) upgraded to Buy from Neutral at BofA/Merrill... SandRidge Energy (SD) upgraded to Hold from Sell at Wunderlich... Telecom Argentina (TEO) upgraded to Outperform from Market Perform at Raymond James... Teva (TEVA) upgraded to Outperform from Market Perform at BMO Capital... Triumph Bancorp (TBK) upgraded to Buy from Hold at Evercore ISI... Waste Management (WM) upgraded on valuation, rebounding businesses at Argus... Wisconsin Energy (WEC) upgraded to Buy from Neutral at Goldman.
09:14 EDTTEVAMylan price target lowered to $54 from $82 at BMO Capital
BMO Capital cut its price target on Mylan (MYL) after Teva (TEVA) announced that it was abandoning its bid to buy the company. The firm expects Mylan's stock to continue to face selling pressure in the wake of the news. The firm says that investors will wonder if Mylan can buy Perrigo (PRGO) following the decline in its share price. BMO believes that Perrigo "will put up a strong fight," and it does not think that the deal would be favorable for Mylan in any event. BMO keeps a Market Perform rating on Mylan.
08:24 EDTTEVATeva deal has solid financial and strategic rationale, says Cowen
Subscribe for More Information
08:19 EDTTEVATeva price target raised to $80 from $69 at Bernstein
Subscribe for More Information
08:03 EDTTEVATeva price target raised to $86 from $70 at Citi
Subscribe for More Information
08:02 EDTTEVATeva says EMA confirms validation of Reslizumab marketing authorization
Subscribe for More Information
07:31 EDTCELGCelgene commences tender offer for Receptos
Subscribe for More Information
07:20 EDTAZN, PFEBrookings Institute to hold a public meeting
Subscribe for More Information
07:18 EDTPFEPfizer raises FY15 adjusted EPS view to $2.01-$2.07, consensus $2.04
Subscribe for More Information
07:17 EDTPFEPfizer reports Q2 innovative products revenue $6.63B, up 8%
Subscribe for More Information
07:07 EDTTEVATeva price target raised to $82 from $73 at Deutsche Bank
Deutsche Bank raised its price target for Teva (TEVA) to $82 saying it likes the acquisition of Allergan's (AGN) generics business. The firm reiterates a Buy rating on the stock.
07:02 EDTTEVAMylan price target lowered to $65 from $82 at Deutsche Bank
Subscribe for More Information
07:02 EDTPFEPfizer reports Q2 EPS adjusted 56c, consensus 52c
Reports Q2 revenue $11.9B, consensus $11.42B.
06:43 EDTTEVAMylan price target lowered to $54 from $82 at BMO Capital
Subscribe for More Information
06:31 EDTTEVAMylan's move to Netherlands gave it leverage to resist Teva deal, WSJ says
Subscribe for More Information
06:06 EDTTEVATeva upgraded to Outperform from Market Perform at BMO Capital
BMO Capital analyst David Maris upgraded Teva (TEVA) to Outperform after the company reached a deal to buy Allergan's (AGN) generics business for $40.5B and dropped its proposal to acquire Mylan (MYL). The acquisition looks "very positive" high accretion and significant cost savings, Maris tells investors in a research note. The deal is a "much better option" than Mylan and brings Teva a leading pipeline of generics, Maris writes. He raised his price target for shares of Teva to $80 from $75. The stock closed yesterday up $10.22 to $72.07.
05:39 EDTTEVAAllergan price target raised to $366 from $333 at UBS
UBS analyst Marc Goodman raised his price target for Allergan (AGN) to $366 saying he remains bullish on the stock after the company sold its generics business to Teva (TEVA). The sale was a surprise, but you can't blame Allergan management for selling at that price, Goodman told investors yesterday in a research note titled "An Offer They Couldn’t Refuse." He sees "significant upside potential" in shares of Allergan and keeps a Buy rating on the name. The maker of Botox closed yesterday up $18.99 to $327.20.
July 27, 2015
19:14 EDTTEVATeva could surge to $100 per share, Barron's says
Investors should expect more gains from Teva following the pharmaceutical company's acquisition of Allergan Generics (AGN) and reporting better than expected quarterly results, Barron's contends in its 'Barron's Take' column. Shares could surge to $100.00 per share, the paper adds. Reference Link
18:30 EDTPFE, TEVAAllergan CEO pursuing 'transformational deals,' FT says
In a Financial Times interview following the sale of its generics unit to Teva (TEVA), Allergan's (AGN) CEO Brent Saunders stated, "We’re going to contemplate transformational deals... We couldn’t before because of our capital structure and debt, but now we can." When asked about the timing of a potential deal, Saunders remarked, "We’re not going to plod along," and when asked about a hypothetical takeover by Pfizer (PFE), the CEO commented, "I spend zero time thinking about Pfizer and I am not doing anything to make us more or less attractive to them." Reference Link
<< 1 | 2 | 3 | 4 | 5 | 6 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use