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Stock Market & Financial Investment News

News Breaks
April 2, 2014
12:33 EDTAPOL, XLRN, MON, LQDT, MNKD, CELG, AGUOn 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 26, 2015
10:39 EDTMONMonsanto confirms making revised proposal to Syngenta on August 18
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10:38 EDTMONMonsanto says confident in delivering five-year plan
10:38 EDTMONMonsanto confirms confidence in more than doubling FY14 ongoing EPS by 2019
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10:37 EDTMONMonsanto says no longer pursuing current proposal for Syngenta combination
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10:36 EDTMONMonsanto says no longer pursuing current proposal for Syngenta combination
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10:22 EDTMONSyngenta trading halted, news pending
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10:20 EDTMONMonsanto trading halted, pending news
05:52 EDTMNKDStocks with implied volatility movement; TSM MNKD
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August 25, 2015
13:10 EDTMONSyngenta investor: CHF470 per share 'good price,' Reuters reports
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09:47 EDTMONSeveral Monsanto shareholders opposed to Syngenta pursuit, CNBC reports
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07:31 EDTCELGCelgene announces expiration of tender offer for Receptos shares
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August 24, 2015
18:55 EDTCELGOn The Fly: After Hours Movers
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18:52 EDTCELGJazz, Celgene, Shire up after USPTO rejects Acorda patent challenge
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13:36 EDTCELGBiotech correction presents some opportunities, says RBC Capital
RBC Capital analyst Michael Yee said he won't try to pick the short-term bottom in biotech, but contends that any macro weakness in China shouldn't have any major impact to financials or fundamentals for the sector given their minimal exposure there. If the market continues to be volatile, Yee recommends a focus on names with defensive characteristics, such as higher margins and free cash flow yield, naming Amgen (AMGN), Celgene (CELG) and Gilead (GILD) as some examples. The analyst adds that he likes Vertex (VRTX) on the pullback for "more aggressive" growth investors. Yee has Outperform ratings on all of the stocks mentioned above.
12:17 EDTMONMonsanto to raise Syngenta bid to about CHF470 per share, Bloomberg says
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11:44 EDTMONMonsanto to raise Syngenta bid to about CHF 470 per share, Bloomberg says
This would equate to about $47B and be up from CHF 449 per share previously, Bloomberg noted.
August 23, 2015
12:35 EDTCELGBiotech firms could see 'billions' in sales from new cancer drugs, Barron's says
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August 21, 2015
12:17 EDTAGUDeere slides after Q3 results and outlook impacted by deteriorating farm economy
Despite reporting third quarter results that surpassed analyst expectations, shares of farm equipment maker Deere (DE) are falling after the company said it sees farm equipment sales for the year lower than previously thought, as the downturn in the agricultural economy continues. WHAT'S NEW: Deere reported Q3 EPS of $1.53, down from $2.33 in the year-ago quarter, and revenue of $7.6B, down 20% from last year's Q3. Analysts' consensus estimates for Q3 were for EPS of $1.44 on revenue of $7.17B. John Deere's Chief Executive Officer Samuel Allen said, "John Deere's third quarter results reflected the continuing impact of the downturn in the farm economy as well as lower demand for construction equipment." WHAT'S NOTABLE: Looking ahead, the farm equipment maker forecast full year 2015 world-wide sales of its farm equipment to be lower by about 25% for the year compared to the 24% it forecast in May with its Q2 report. On its Q3 earnings conference call, the company said crop prices are stabilizing near the long-term average and the dairy sector remains under pressure. Beef prices remain solid while pork prices remain at low levels, Deere added. In China, the company sees continued slowdown in economic growth, lower commodity prices impacting agricultural economy, and mechanizing trends and ongoing subsidies supportive of agriculture. In India, the company sees positive consumer and investor sentiment supporting economic growth, and two consecutive below normal monsoon seasons impacting farm incomes. In the Commonwealth of Independent States, the company sees a continued deterioration of economic growth and credit conditions remaining challenged. Deere sees crop value of agricultural production in Brazil to decrease 11% in 2015. PRICE ACTION: Shares of Deere are down $6.04, or 6.6%, to $84.61 in midday trading. OTHERS TO WATCH: Other companies that are leveraged to agriculture include AGCO (AGCO),Potash (POT), Mosaic(MOS), Agrium (AGU), Syngenta (SYT), CF Industries (CF), and DuPont (DD).
August 20, 2015
09:57 EDTAGUAgrium management to meet with Canaccord
Meeting to be held in Winnipeg, Canada on August 20.
09:47 EDTMNKDMannKind failed to settle loan by deadline, TheStreet's Feuerstein says
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