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Stock Market & Financial Investment News

News Breaks
April 2, 2014
12:33 EDTMON, AGU, MNKD, XLRN, CELG, LQDT, APOLOn The Fly: Midday Wrap
Stocks on Wall Street were slightly higher at midday after payroll provider ADP estimated that employers added 191K jobs in March. The jobs addition was slightly less than expected, but a figure near 200K still may add confidence that Friday's jobs report from the Department of Labor may be an encouraging one. ECONOMIC EVENTS: ADP estimated that private payrolls increased 191K in March, which fell just short of the 193K consensus estimate. Factory orders grew by 1.6% in February, versus expectations for an increase of 1.2% in the month. COMPANY NEWS: Agribusiness giant Monsanto (MON) rose 1.5% after reporting better than expected earnings and revenue for its just-completed second quarter and confirming its fiscal year profit guidance. Another agricultural products maker, fertilizer producer Agrium (AGU), slid over 2% after warning that the late spring season this year is expected to impact the timing of its wholesale, and to a lesser extent its retail, earnings. MAJOR MOVERS: Among the notable gainers was MannKind (MNKD), which surged more than 77% after an FDA advisory panel voted to recommend its Afrezza inhalation powder to treat type 1 and type 2 diabetes. Also higher was Acceleron Pharma (XLRN), which rose 15% after its larger partner Celgene (CELG) reached a deal to raise its stake in Acceleron to 14.8% by acquiring 1.1M Acceleron shares from five current stockholders. Among the noteworthy losers was Liquidity Services (LQDT), which dropped 11% after RW Baird said the company's high bid for the Non-Rolling Stock portion of the Defense Logistics Agency’s surplus liquidation contract is "quite a bit" higher than it expected. Also lower was Apollo Education (APOL), which fell 8% near noon despite an upgrade of its shares at Wells Fargo after the company's Q2 revenue missed expectations and it also disclosed the receipt of a subpoena by its University of Phoenix unit from the Office of the Inspector General of the U.S. Department of Education. INDEXES: Near midday, the Dow was up 19.39, or 0.12%, to 16,552.00, the Nasdaq was up 5.39, or 0.13%, to 4,273.43, and the S&P 500 was up 4.81, or 0.26%, to 1,890.33.
News For MON;AGU;MNKD;XLRN;CELG;LQDT;APOL From The Last 14 Days
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August 28, 2014
08:09 EDTAGUAgrium unit enters commercialization, technology development agreement
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August 27, 2014
09:53 EDTMNKDOn The Fly: Analyst Initiation Summary
Bristol-Myers (BMY) initiated with a Hold at Deutsche Bank... ASML (ASML) initiated with a Hold at Stifel... Akamai (AKAM) initiated with an Outperform at RW Baird... Concur (CNQR) initiated with a Neutral at DA Davidson... CyrusOne (CONE) initiated with a Neutral at Citigroup... Eli Lilly (LLY) initiated with a Buy at Deutsche Bank... Garmin (GRMN) initiated with a Neutral at RW Baird... Merck (MRK) initiated with a Hold at Deutsche Bank... NetSuite (N) initiated with a Buy at DA Davidson... Oracle (ORCL) initiated with a Neutral at DA Davidson... Oxford Industries (OXM) initiated with a Buy at Wunderlich... Pfizer (PFE) initiated with a Buy at Deutsche Bank... ServiceNow (NOW) initiated with a Buy at DA Davidson... Workday (WDAY) initiated with a Neutral at DA Davidson... MannKind (MNKD) initiated with a Buy at Jefferies... STMicroelectronics (STM) initiated with an Underperform at Credit Suisse... Kirkland's (KIRK) initiated with an Outperform at Barrington.
06:47 EDTMNKDMannKind initiated with a Buy at Jefferies
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August 26, 2014
11:20 EDTCELGCelgene added to short term buy list at Deutsche Bank
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09:35 EDTCELGActive equity options trading on open
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09:30 EDTMONGlobal Hunter Securities to hold meetings at farm show
Global Hunter Events at Farm Progress Show in Boone, Iowa on August 26-27.
09:25 EDTMONFarm Progress Companies to hold a show
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08:03 EDTAGUAgrium unit acquires controlling interest in Agricen
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August 25, 2014
12:19 EDTCELGOn The Fly: Midday Wrap
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10:40 EDTCELGBiotechs rise after InterMune acquired by Roche
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07:23 EDTAPOLGovernment not looking to push other colleges out of business, says Wells Fargo
In the wake of Corinthian Colleges' (COCO) dissolution due to actions taken by the Department of Education, Wells Fargo thinks the government did not intend for this scenario to unfold. After speaking with unnamed "knowledgeable sources" about the issue, the firm does not expect the department to take similar actions in the future because doing so would create too much of a workload for the department, Wells believes. Publicly traded companies in the space include American Public Education (APEI), Apollo Education (APOL), Bridgepoint Education (BPI), Career Education (CECO), Corinthian Colleges (COCO), DeVry (DV), Grand Canyon (LOPE), ITT Educational (ESI) and Strayer (STRA).
August 22, 2014
08:15 EDTMONMonsanto can execute another reinvention, says Citigroup
Citigroup believes Monsanto is reinventing itself like it did when Roundup went off patent in the late 1990's by using the cash flow from the seeds business to get into new growth areas. Citi thinks management can execute the transition but admits the stock may be range-bound over the near-term. The firm keeps a Buy rating on Monsanto with a $146 price target.
August 21, 2014
17:22 EDTAGUAgrium names Steve Douglas as CFO, effective November 3
Agrium is pleased to announce Steve Douglas has accepted the position of Senior Vice President and CFO effective November 3. Steve comes to Agrium from Brookfield Asset Management where he was Senior Managing Partner and CFO of Brookfield Property Partners and also previously held the role of CFO at Falconbridge.
August 20, 2014
12:07 EDTMONMonsanto expects to at least double year ongoing EPS by end of FY19
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12:03 EDTMONMonsanto says on track to deliver upper end of FY14 outlook
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08:02 EDTCELGBristol-Myers, Celgene enter collaboration agreement for OPDIVO, ABRAXANE
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August 19, 2014
15:12 EDTAPOLApollo Education management to meet with Piper Jaffray
Meeting to be held in Los Angeles on August 21 hosted by Piper Jaffray.
10:42 EDTMNKDOptions with decreasing implied volatility
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09:38 EDTCELGActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL GILD TSLA CELG VLO VZ FB HD
07:33 EDTCELGCelgene announces publication of REVLIMID combination results
Celgene announced that results of a study evaluating the combination of REVLIMID with rituximab, cyclophosphamide, doxorubicin hydrochloride, vincristine sulfate and prednisone in untreated diffuse large b-cell lymphoma were published online ahead of print in the Journal of Clinical Oncology. In a phase II, open label, single arm study, 64 patients with newly diagnosed, untreated, stage II-IV CD20 positive DLBCL received 25 mg of lenalidomide on days 1-10 with standard dose R-CHOP every 21 days for six cycles. All patients received pegfilgrastim on day two of each cycle and aspirin prophylaxis throughout. The primary endpoint was event-free survival with secondary endpoints of progression free survival and overall survival. A one-stage binomial design was used to assess the efficacy and tolerability of REVLIMID with R-CHOP. Of the 64 patients enrolled, 60 were eligible for response evaluation. In these patients, the overall response rate was 98% with 80% achieving a complete response. The 24-month EFS, which was identical to PFS, and OS rates were 59% and 78%, respectively. The company said, "This study demonstrated that the addition of lenalidomide to conventional R-CHOP resulted in similar PFS rates and OS rates between sub-types. This is intriguing as patients with the non-GCB phenotype have traditionally experienced poorer outcomes. The results of this study support further evaluation of this regimen in this sub-type of DLBCL.”
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