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Stock Market & Financial Investment News

News Breaks
May 12, 2014
07:34 EDTMRKMerck says Zontivity approved for reduction of thrombotic cardiovascular events
Merck announced that the U.S. FDA has approved ZONTIVITY for the reduction of thrombotic cardiovascular events in patients with a history of heart attack or in patients with narrowing of leg arteries, called peripheral arterial disease. For patients with a history of heart attack or with PAD who had no history of stroke or transient ischemic attack, ZONTIVITY added to standard of care produced a significant 17% relative risk reduction over the three years of the study for the combined events of cardiovascular death, myocardial infarction, stroke, and urgent coronary revascularization. For the key secondary composite efficacy endpoint of CV death, MI and stroke alone, ZONTIVITY produced a significant 20% relative risk reduction in these patients. These results were driven by an 18% relative risk reduction in MI and a 33% relative risk reduction in first stroke.
News For MRK From The Last 14 Days
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February 4, 2016
08:09 EDTMRKImmunoGen, Merck establish collaboration for Mirvetuximab Soravtansine, Keytruda
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08:08 EDTMRKMerck says FDA approves single-dose EMEND for injection
Merck announced that the U.S. FDA has approved a supplemental new drug application for single-dose EMEND for injection, Merck's substance P/neurokinin-1 receptor antagonist, in combination with other antiemetic medicines, for the prevention of delayed nausea and vomiting in adults receiving initial and repeat courses of moderately emetogenic chemotherapy. EMEND has not been studied for the treatment of established nausea and vomiting. The FDA approval is supported by data from a Phase 3 study that showed single-dose EMEND for injection, combined with other anti-vomiting medicines, provided greater protection from delayed nausea and vomiting following administration of moderately emetogenic chemotherapy versus an active control regimen. With this approval, EMEND for injection is the first intravenous single-dose NK1 receptor antagonist approved in the U.S. for both highly emetogenic chemotherapy as well as MEC. EMEND for injection is contraindicated in patients who are hypersensitive to any component of the product and in patients taking pimozide.
February 3, 2016
16:40 EDTMRKOn The Fly: Top stock stories for Wednesday
Stocks began the session in positive territory but were unable to hold their early gains. Following larger than expected builds in energy inventories, oil moved lower, taking equities with it. By the noon hour oil prices recovered and moved higher once again, helping to lift equities. While oil prices continued their advance and moved up more than 7%, stocks lagged, especially the Nasdaq, which was down as much as 1.5% this afternoon. That changed in the last hours of trading, which saw the Dow spurt higher and the Nasdaq recover most of its losses heading into another heavy dose of corporate earnings reports after the close. ECONOMIC EVENTS: In the U.S., ADP estimated that private payrolls grew by 205,000 jobs in January, topping the consensus forecast for 190,000 job additions. Markit's services PMI came in at 53.2, versus the consensus 53.7 forecast. The Institute for Supply Management's non-manufacturing index came in at 53.5 for January, down from 55.3 in the previous month and below the 55.1 reading forecast by analysts. In Asia, the Caixin services PMI for China climbed to 52.4 in January from 50.2 in December, while Japan's services PMI rose to 52.4 from 51.5 in the prior month. Additionally, China's National Development and Reform Commission set its economic growth projection range for this year at 6.5%-7%, noting that attempts to curb overcapacity will increase unemployment in provinces with high output of steel and coal. In Europe, Markit's composite purchasing managers index for January declined to 53.6 from 54.3 in December. COMPANY NEWS: Shares of Yahoo (YHOO) declined 4.75% to $27.68 after the embattled Internet company reported fourth quarter results and announced plans to simplify its product portfolio and reduce its workforce by roughly 15%. Maynard Webb, Yahoo's chairman, said the board is committed to its turnaround efforts and supportive of management's plan, but also believes that exploring additional strategic alternatives is in the best interest of its shareholders... Chipotle Mexican Grill (CMG) fell 2.89% to $461.92 after reporting lower than expected revenue and a 14% plunge in same-store sales for the quarter. Adding to the negative headlines, the restaurant operator also disclosed a subpoena broadening the scope of a criminal investigation that was previously limited to a single Chipotle location in California. Also punished by food safety worries were shares of Buffalo Wild Wings (BWLD), which slid 4.24% to $143.64 after one of its restaurants was named a suspected source of new norovirus-like cases in suburban Kansas City, though the company disputed a link between its location and the illnesses. The stock continued to move lower in after-hours trading following the company's earnings report and lower than expected guidance... Merck (MRK) was one of the worst performers on the Dow, dipping to as low as $48.58 before ending the day down 0.7% at $50.04 after its earnings narrowly topped estimates but guidance for the new year fell short of expectations. Among other large cap names reporting earnings this morning, Comcast (CMCSA) rose 5.95% following its report, while General Motors (GM) slid 2.43%. MAJOR MOVERS: Among the notable gainers was Autodesk (ADSK), which rallied 8% to $49.56 after announcing a restructuring plan that will see its workforce cut by roughly 10%. Also higher was Angie's List (ANGI), which jumped 13.53% to $9.48 after the New York Post reported that InterActiveCorp (IAC) is preparing a "big run" to acquire the company. In addition, Syngenta (SYT) rose 2% to $80.21 after receiving a $43B-plus takeover offer from ChemChina. Among the noteworthy losers was Lowe's (LOW), which fell 6.2% to $67.42 after agreeing to acquire Canada's RONA in a deal valued at $2.3B. Also lower was Barnes & Noble (BKS), which declined 9.6% to $7.32 after mall operator General Growth (GGP) said during a conference call that Amazon (AMZN) plans to open 300-400 physical bookstores. After the closing bell, General Growth CEO Sandeep Mathrani indicated that his previous statement "was not intended to represent Amazon's plans." Meanwhile, Marathon Petroleum (MPC), Mondelez (MDLZ) and Match Group (MTCH) lost 7.6%, 6.5% and 12.6%, respectively, following their quarterly reports. INDEXES: The Dow rose 183.12, or 1.13%, to 16,336.66, the Nasdaq fell 12.71, or 0.28%, to 4,504.24, and the S&P 500 advanced 9.50, or 0.5%, to 1,912.53.
10:16 EDTMRKMerck falls after results, levels to watch
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09:19 EDTMRKOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Boot Barn (BOOT), up 20.7%... Oclaro (OCLR), up 8.2%... Edwards Lifesciences (EW), up 5.8%... Natural Health (NHTC), up 5.7%... Viavi Solutions (VIAV), up 2.8%. ALSO HIGHER: Conatus (CNAT), up 18.8% after the FDA has granted Fast Track designation to the company's emricasan development program for the treatment of liver cirrhosis... Marvell Technology (MRVL), up 3.3% after Starboard Value disclosed a 6.7% activist stake in the company... Syngenta (SYT), up 2.9% after ChemChina offers to acquire the company in a transaction valued over $43B. DOWN AFTER EARNINGS: Navios Maritime Partners (NMM), down 33.5%... National-Oilwell Varco (NOV), down 7.9%... Chipotle (CMG), down 5.7%... Yahoo (YHOO), down 1.9%... Mondelez (MDLZ), down 4.4%... Illumina (ILMN), down 4.6%... Alexion Pharmaceuticals (ALXN), down 3.5%... Merck (MRK), down fractionally.
09:05 EDTMRKMerck says don't read into discounting strategy based on pricing of hep C drug
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08:54 EDTMRKMerck Chairman says industry must price products consistent with value provided
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08:43 EDTMRKMerck says main focus of deals to be augmenting pipeline
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08:36 EDTMRKMerck says looking for M&A, partnership opportunities in oncology, other areas
Merck executives said on the company's Q4 earnings call that they "have paid attention to what's happened in the marketplace" and are working "very actively" to reach the right kind of deals, whether they are M&A or partnerships. The executives said they are "very focused" on value creating opportunities and active in looking for opportunities in oncology and other therapeutic areas where they can build the company's pipeline.
08:17 EDTMRKMerck sees growing Januvia franchise in 2016 ex-exchange
Merck said it expects to grow the Januvia franchise in 2016 ex-exchange despite increased pricing pressure. The company said it has maintained a high market share of about 75% in the U.S. and 65% globally. Merck said that, while still early, customer feedback is very positive on Bridion. Merck said it believes its pricing strategy for hepatitis C treatment Zapatier will "maximize revenue and market share" as well as broaden and accelerate patient access. Comments from Merck's Q4 earnings conference call.
06:48 EDTMRKMerck sees FY16 non-GAAP marketing and administrative expenses below 2015 levels
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06:48 EDTMRKMerck reports Q4 Animal Health sales $830M
06:47 EDTMRKMerck reports Q4 Januvia/Janumet sales $1.45B
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06:46 EDTMRKMerck sees FY16 non-GAAP EPS $3.60-$3.75, consensus $3.72
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06:46 EDTMRKMerck reports Q4 non-GAAP EPS 93c, consensus 91c
Reports Q4 revenue $10.22B, consensus $10.35B.
February 2, 2016
14:32 EDTMRKNotable companies reporting before tomorrow's open
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13:54 EDTMRKMerck technical comments ahead of earnings news
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13:35 EDTMRKEarnings Watch: Merck down over 5% since last earnings report
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07:24 EDTMRKSanofi, Merck mulling exiting vaccine JV, Bloomberg reports
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06:44 EDTMRKMerck volatility elevated into Q4 and outlook
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