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Stock Market & Financial Investment News

News Breaks
April 2, 2014
12:33 EDTMON, LQDT, MNKD, CELG, AGU, APOL, XLRNOn 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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January 13, 2015
09:36 EDTCELGActive equity options trading
Active equity options trading according to Track Data: AAPL AMD AA TWTR GILD C CELG TSLA GOOG
07:43 EDTCELGCelgene price target raised to $142 from $109 at Bernstein
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07:24 EDTCELGCelgene 2015 guidance conservative, says Cantor
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January 12, 2015
19:44 EDTAGUPotash marketing firm reaches supply agreement with Sinofert
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16:12 EDTCELGAgios announces Celgene agrees to exercise option to license AG-120
Agios Pharmaceuticals (AGIO) announced that its collaboration partner Celgene (CELG) has agreed that it will exercise its option to obtain an exclusive license outside the United States for AG-120, a first-in-class, oral, potent inhibitor of the mutant IDH1 protein under the terms of the 2010 collaboration agreement. This would be the second IDH mutant inhibitor to be licensed by Celgene in less than a year. AG-120 is currently being evaluated in two Phase 1 dose escalation trials, one in advanced hematologic malignancies and the other in advanced solid tumors. Both trials are evaluating AG-120 in patients whose cancer harbors an IDH1 mutation. The first data from the AG-120 program were presented at the EORTC-NCI-AACR Symposium on November 19, 2014 in advanced hematologic malignancies. Agios expects to report the first data from the Phase 1 advanced solid tumor trial at a medical conference in 2015. Celgene's exercise of the option is subject to receipt of any required regulatory approvals including any applicable clearance under the Hart-Scott-Rodino Act.
12:10 EDTCELGRBC Capital says Celgene's shares could rise to $200 'over time'
The long-term profit guidance that Celgene (CELG) released today suggests that the stock, currently trading around $115, could reach $200 "over time," RBC Capital wrote in a note to investors today. WHAT'S NEW: After Celgene estimated that its EPS would exceed $12.50, excluding certain items, by 2020, RBC Capital says that the guidance exceeded the firm's previous outlook. RBC added that Celgene's projection increases its confidence in the predictability of the drug maker's performance over the longer term. The firm recommended that investors own Celgene in 2015, noting that the company has the potential to settle its patent case with Actavis (ACT). A settlement would enable investors to focus on Celgene's visible long-term growth and the robust opportunity provided by its drugs in development, RBC stated. Historically, investors have not given Celgene credit for these strengths, the firm stated. PRICE ACTION: In early afternoon trading, Celgene rose 1.5% to $115.35.
12:02 EDTAGU, MONUSDA cuts 2014 corn output estmate on lower yields
In its latest World Agricultural Supply and Demand Estimates, or WASDE, report, the U.S. Department of Agriculture said its U.S. feed grain supplies for 2014/15 are now projected lower, with a reduction in corn production more than offsetting an increase in sorghum. Corn production is estimated 191M bushels lower, though yield and production both remain records, USDA noted. Publicly traded companies in the space include Agrium (AGU), Andersons (ANDE), Archer Daniels (ADM), Bunge (BG), CF Industries (CF), Compass Minerals (CMP), DuPont (DD), Intrepid Potash (IPI), Monsanto (MON), Mosaic (MOS), Potash (POT) and Syngenta (SYT). Reference Link
11:09 EDTCELGCelgene sees 2020 adjusted EPS over $12.50, sales above $20B
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11:06 EDTCELGCelgene backs FY17 target for adjusted EPS $7.50, sales $13B-$14B
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11:03 EDTCELGCelgene sees FY15 Revlimid sales $5.6B-$5.7B
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11:02 EDTCELGCelgene sees Q4 adjusted EPS $1.01, consensus 99c
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11:02 EDTCELGCelgene sees FY14 adjusted EPS $3.71, consensus $3.69
Sees FY14 net product sales $7.56B, consensus $7.66B. Sees FY14 Revlimid sales $4.98B, Abraxane sales $848M, Pomalyst/Imnovid sales $680M and Otezla sales $70M.
10:59 EDTCELGCelgene sees FY15 adjusted EPS $4.60-$4.75, consensus $4.84
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10:56 EDTCELGCelgene says no higher priority that accelerating development of Crohn's drug
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10:53 EDTCELGCelgene says Otezla scripts accelerated in Q4
10:51 EDTCELGCelgene reports FY14 EPS $3.71, consensus $3.69
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10:44 EDTCELGCelgene CEO says company expects to meet, exceed 2017 guidance
The company is speaking at JPMorgan's conference.
10:15 EDTAPOLOptions with decreasing implied volatility
Options with decreasing implied volatility: NBIX APOL NPSP BBBY INFY JCP MU TIF
07:15 EDTMNKDMannKind CEO Mann to transition to chairman, COO Edstrom named CEO
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07:11 EDTXLRNAcceleron plans Phase 3 trials in MDS and beta-thalassemia for 2015
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