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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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July 24, 2014
14:43 EDTMNKDTourbillon sees potential for MannKind shares to drop 90%, CNBC reports
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12:20 EDTCELGCelgene price target raised to $115 from $85 at Piper Jaffray
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07:45 EDTCELGCelgene reports Q2 VIDAZA sales decreased 28%
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07:43 EDTCELGCelgene reports Q2 ABRAXANE sales increased 39%
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07:42 EDTCELGCelgene reports Q2 REVLIMID sales increased 15%
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07:34 EDTCELGCelgene raises FY14 adjusted EPS view to $3.60-$3.65 from $3.50-$3.60
Consensus is $3.67. Raises FY14 revenue view to $7.6B from $7.5B, consensus $7.54B. Sees Revlimid net product sales $4.95B from preview $4.9B-$5B range. Sees Abraxane net product sales $850M-$900M.
07:32 EDTCELGCelgene reports Q2 adjusted EPS 90c, consensus 89c
Reports Q2 revenue $1.87B, consensus $1.85B.
July 23, 2014
15:30 EDTCELGNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Ford (F), consensus 36c; General Motors (GM), consensus 58c; Potash (POT), consensus 46c; Caterpillar (CAT), consensus $1.52; 3M (MMM), consensus $1.91; Union Pacific (UNP), consensus $1.43; Bristol-Myers Squibb (BMY), consensus 44c; Eli Lilly (LLY), consensus 65c; Celgene (CELG), consensus 89c; Precision Castparts (PCP), consensus $3.35; Raytheon (RTN), consensus $1.59; Noble Energy (NBL), consensus 79c; Hershey (HSY), consensus 76c; Southwest Airlines (LUV), consensus 61c; Boston Scientific (BSX), consensus 19c; JetBlue (JBLU), consensus 19c.
09:41 EDTCELGActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL NFLX FB MSFT CELG TWTR TSLA VALE CNW
July 22, 2014
07:12 EDTCELGCelgene has upper hand in Revlimid case, says Bernstein
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July 18, 2014
16:03 EDTMNKDOptions Update; July 18, 2014
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11:47 EDTMNKDStocks with call strike movement; BBRY MNKD
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July 16, 2014
11:53 EDTMNKDStocks with call strike movement; MNKD SUNE
MannKind (MNKD) January 17 call option implied volatility increased 6% to 79, SunEdison (SUNE) October 28 call option implied volatility increased 3% to 58 according to IVolatility.
09:13 EDTAGUCleveland Research sees risk to Agrium 2H and FY15 Street estimates
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July 15, 2014
10:56 EDTCELGFed calls small cap social media, biotech valuations 'stretched'
The Board of Governors of the Federal Reserve in its Monetary Policy Report dated today said valuation metrics in "some sectors" appear substantially stretched, "particularly those for smaller firms in the social media and biotechnology industries, despite a notable downturn in equity prices for such firms early in the year." A later part in the document reads, "Equity valuations of smaller firms as well as social media and biotechnology firms appear to be stretched, with ratios of prices to forward earnings remaining high relative to historical norms." The specific targeting of sectors by the Fed seems to be having an impact on stocks in the social media and biotech spaces. Shares of Yelp (YELP) are down over 5% to $67.51, while Twitter (TWTR) and Facebook (FB) are each down 2%. Celgene (CELG) and Amgen (AMGN) are leading the biotech space lower with pullbacks of greater than 1%.
10:33 EDTCELGFacebook, Twitter slip following cautious valuation comments from Fed
Shares of a number of companies in the social media and biotech industries moved lower following the circulation of cautious comments about their stock valuations that were included in the Federal Reserve's latest Monetary Policy Report. WHAT'S NEW: In the report, presented by the Board of Governors of the Federal Reserve and signed on behalf of the governors by Chair Janet Yellen, the central bank wrote that some broad equity price indexes have increased to all-time highs in nominal terms since the end of 2013, but that valuation measures for the overall market in early July were "generally at levels not far above their historical averages." However, the Fed's report also cautioned that valuation metrics in some sectors do appear substantially "stretched," particularly those for smaller firms in the social media and biotechnology industries, despite a notable downturn in equity prices for such firms early in the year. As support for its assessment, the Fed noted that ratios of prices to forward earnings for "smaller firms as well as social media and biotechnology firms" remain "high relative to historical norms." PRICE ACTION: Following the circulation of the comments in the Fed report, shares of Facebook (FB) are down 88c, or 1.3%, to $67.02, Twitter (TWTR) is down 24c, or 0.6%, to $38.07 and LinkedIn (LNKD), is down 21c, or 0.1%, to $159.57. Shares of some biotechnology companies including Celgene (CELG) and Amgen (AMGN) also ticked lower following the circulation of the comments from the Fed's report.
09:59 EDTAPOLApollo Education discloses new Department of Education review
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09:21 EDTAPOLOn The Fly: Pre-market Movers
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07:17 EDTAPOLApollo Education Title IV review not cause for concern, says William Blair
William Blair says Apollo Education's announcement that the Department of Education will conduct a Title IV program review is not a major cause for concern. The firm notes that all U.S. colleges whose students access federal student loans are subject to periodic program reviews of their administration of Title IV funds. William Blair views Apollo's financial aid processing systems and procedures are among the best, if not the best, and keeps an Market Perform rating on the stock.
06:50 EDTAPOLApollo Education Title IV review likely non-event, says Piper Jaffray
After Apollo Education disclosed that the Department of Education will conduct a Title IV program review, Piper Jaffray says such actions are "normal course of business" and not unusual at for-profit institutions. Piper notes that Apollo's last Title IV program review was completed in 2012 with no adverse findings. The firm sees a "high probability" the review will be a non-event and it keeps a Neutral rating on the stock.
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