New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 2, 2013
12:46 EDTLNKD, ZIP, UNH, SKUL, CAT, JNJ, CAR, HPQ, MRKOn The Fly: Midday Wrap
Stocks on Wall Street were significantly higher at midday after U.S. lawmakers agreed on a deal to avoid some of the tax hikes associated with the fiscal cliff, but many of the issues remaining were simply pushed off by the last-second agreement. The stop-gap measure puts off the drastic spending cuts that were due to take effect, but it did not eliminate them, and it failed to raise the debt limit, meaning another political showdown is coming. The dayís economic data points went largely unnoticed as most investors breathed a sigh of relief and sent the averages soaring right at the opening bell... ECONOMIC EVENTS: In the U.S., Markit's final reading for December's purchasing managers' index came in at 54.0, which was up from 52.8 a month ago and beat expectations for a downward revision to 53.6. The ISM's December manufacturing PMI had a reading of 50.7, versus the expected 50.5, while the prices paid index came in at 55.5, versus the expected 50.8. A separate report showed construction spending fell 0.3% in November, versus an expected increase of 0.6%. In Europe, Markit's zone-wide PMI edged down to 46.1 in December, compared with its 46.3 preliminary reading and down from 46.2 in November... COMPANY NEWS: Every member of the Dow Jones Industrial Average was higher at midday, with only Merck (MRK), Johnson & Johnson (JNJ) and UnitedHealth (UNH) logging gains of less than 1%. Shares of Hewlett-Packard (HPQ) and Caterpillar (CAT) paced the blue chip index, as each rose over 4%... Reflecting a trend similar to the one seen on the Dow, every S&P sector except for Healthcare was significantly higher... MAJOR MOVERS: Among the notable gainers was Zipcar (ZIP), which rose 48% following its agreement to be acquired for $12.25 per share in cash by Avis Budget (CAR), which also had its shares rise nearly 5%. Among the noteworthy losers were Skullcandy (SKUL), down 14% after Jefferies downgraded the stock to Underperform from Buy, and LinkedIn (LNKD) which fell almost 4% after being downgraded to Equal Weight at Barclays... INDICES: Near 12:30 pm ET, the Dow was up 224.78, or 1.72%, to 13,328.92; the Nasdaq was up 67.24, or 2.23%, to 3,086.75; and the S&P 500 was up 24.81, or 1.74%, to 1,451.00.
News For MRK;JNJ;UNH;HPQ;CAT;ZIP;CAR;SKUL;LNKD 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 | all recent news | >>
December 8, 2014
08:30 EDTMRKMerck says deals with Cubist includes $250M break-up fee clause
Subscribe for More Information
08:21 EDTMRKMerck says looked at all risks, including patent litgation, before Cubist deal
Subscribe for More Information
08:11 EDTMRKCubist volatility elevated into Merck acquiring for $8.4B in cash
Subscribe for More Information
08:08 EDTMRKMerck says about $9.5B of debt to be issued related to Cubist deal
Subscribe for More Information
07:35 EDTMRKAdvaxis reports FDA acceptance of IND application for ADXS-PSA combination trial
Subscribe for More Information
07:28 EDTHPQFBN Securities to hold a bus tour
Subscribe for More Information
07:13 EDTMRKMerck to host conference call
Subscribe for More Information
07:01 EDTMRKMerck to acquire Cubist for $102 per share in cash, or $9.5B
Subscribe for More Information
07:00 EDTMRKMerck to acquire Cubist for $102 per share in cash
Subscribe for More Information
December 7, 2014
16:29 EDTMRKMerck in discussions to buy Cubist for $7B, Bloomberg reports
Subscribe for More Information
15:53 EDTHPQHP shares could gain 15%, Barron's says
HP shares could gain 15% to $45.00 per share as the company splits its enterprise business from PCs and printer business, by next October, Barron's argues in a follow up article. Reference Link
14:54 EDTJNJIMBRUVICA data suggests promise in multiple myeloma
Subscribe for More Information
12:58 EDTMRKMerck presents KEYTRUDA data at ASH
Subscribe for More Information
December 5, 2014
10:18 EDTCARAvis Budget and Hertz November data positive, says MKM Partners
MKM Partners said Manheim data for November was 123.3, above expectations and October's reading of 12.8. The firm said Manheim and other data is supportive of positive trends in the car rental industry.
December 4, 2014
11:23 EDTJNJAppeals court reverses patent ruling in favor of J&J unit over Covidien
Ethicon Endo-Surgery, a Johnson & Johnson (JNJ) company, appealed a district court judgment regarding certain asserted patent claims of Tyco Healthcare. The appeals court affirmed-in-part, reversed-in-part, and vacated-in-part the prior judgment, because the lower courtís 102(g) findings were correct, but its 103 determination was improper, "including its decision to exclude the 102(g) prior art from the obviousness analysis," the court stated. In 2007, Tyco Healthcare changed its name to Covidien (COV). Reference Link
10:08 EDTCAROn The Fly: Analyst Initiation Summary
Subscribe for More Information
09:01 EDTJNJVA negotiated $594 per dose price for Gilead HCV treatment
A Veterans Health Administration official told a Senate committee yesterday that Veterans' Affairs has "moved rapidly to deploy new, more effective, less toxic HCV treatments and has been able to negotiate significant discounts for these newer therapies." The agency negotiated a price of $594 per dose for Gilead's (GILD) Hepatitis C virus drug Sofosbuvir, below the commercial price of $1,000 per dose, VHA Chief Consultant for Pharmacy Benefits Management Michael Valentino told the Senate's Committee on Veterans' Affairs. The agency also received a $413 per dose price for Johnson & Johnson's (JNJ) Simeprevir, below the commerical price of $790. The VA has approximately 174,000 veterans in care with HCV, making it the largest single HCV provider in the U.S., Valentino pointed out. He added, "Like the rest of the country, VA has treated only a portion of Veterans for HCV because treatment and cures have been difficult to achieve due to low efficacy and high toxicity of standard drug therapies." Reference Link
08:44 EDTHPQCarbonite names Mohamad Ali as CEO
Subscribe for More Information
07:07 EDTCARAvis Budget management to meet with Deutsche Bank
Subscribe for More Information
06:27 EDTCARAvis Budget initiated with an Outperform at Credit Suisse
Subscribe for More Information
1 | 2 | 3 | 4 | 5 | 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