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Stock Market & Financial Investment News

News Breaks
June 3, 2014
11:11 EDTLH, ILMN, DGX, GHDX, QGEN, MYGNPiper sees ASCO positive for Myriad, Genomic, Illumina at Piper Jaffray
Piper Jaffray said it views the American Society of Clinical Oncology conference as positive for Myriad Genetics (MYGN), Genomic Health (GHDX) and Illumina (ILMN), neutral for QIAGEN (QGEN), and neutral-to-negative for Quest Diagnostics (DGX) and LabCorp (LH). Piper notes traffic for Quest and LabCorp booths was lower than Myriad, which it called the "clear winner" among the BRCA test providers.
News For MYGN;GHDX;ILMN;QGEN;DGX;LH From The Last 14 Days
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October 20, 2014
07:11 EDTILMNAmerican Society for Reproductive Medicine to hold annual meeting
2014 Annual Meeting of ASRM is being held in Honolulu on October 18-22.
07:10 EDTILMNAmerican Society of Human Genetics to hold annual meeting
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October 17, 2014
12:52 EDTMYGNOn The Fly: Midday Wrap
Stocks on Wall Street were sharply higher at midday, as the averages bounce back following steep declines in several recent sessions. Better than expected earnings from General Electric (GE) and Morgan Stanley (MS), a rebound in European stock markets and a stronger than expected reading on U.S. consumer confidence may all be contributing to the brightened mood evidenced by today's trading. ECONOMIC EVENTS: In the U.S., housing starts rebounded 6.3% to a 1.017M pace in September, beating expectations for a monthly increase of 4.6%. Building permits increased 1.5% to a 1.018M rate, which was below the expected 2.3% rise. The first release on the University of Michigan's consumer sentiment index for October came in at 86.4, versus expectations for a decline to 84.0 from the prior 84.6 reading. COMPANY NEWS: General Electric shares rose over 3% after the company reported better than expected third quarter profit and nearly in-line revenues. Morgan Stanley, whose quarterly results also topped Street expectations, advanced 2.5%. MAJOR MOVERS: Among the notable gainers was Westmoreland Coal (WLB), which gained 23% after it stuck a deal to acquire Oxford GP, the general partner of Oxford Resource Partners (OXF), and contribute certain royalty bearing coal reserves to Oxford in return for Oxford common units. Afterward, Brean Capital raised its price target on Westmoreland to $60, noting the announcement represents an entry into the MLP space. Also higher were shares of Textron (TXT), which advanced 11% after the aircraft and defense company reported better than expected third quarter earnings per share and raised its profit outlook for fiscal 2014. Among the noteworthy losers was Urban Outfitters (URBN), which dropped 13% and was downgraded by at least three Street research firms after the owner of Anthropologie and its namesake clothing stores warned that its Q3 earnings may be negatively impacted by continued weakness in its comparable retail sales. Also lower was Myriad Genetics (MYGN), which fell 7% after guiding to lower than expected Q1 adjusted earnings, citing a higher than expected increase in costs to perform its myRisk Hereditary Cancer test following the test's national launch. INDEXES: Near midday, the Dow was up 295.34, or 1.83%, to 16,412.58, the Nasdaq was up 62.43, or 1.48%, to 4,279.82, and the S&P 500 was up 29.48, or 1.58%, to 1,892.24.
07:16 EDTMYGNMyriad Genetics receives draft medicare coverage for Prolaris
Myriad Genetics announced that Palmetto GBA, a Medicare Administrative Contractor, or MAC, that assesses molecular diagnostic technologies, has issued a draft local coverage determination, or LCD, for Prolaris, Myriad's prostate cancer test. The LCD is posted to the Medicare Coverage Database on the Centers for Medicare & Medicaid Services, or CMS, website and establishes the coverage policy for Medicare beneficiaries. The current language in the draft LCD provides reimbursement coverage for the approximately 50% of prostate cancer patients defined as low and very low risk. Under Medicare rules, the draft LCD is subject to a minimum 45-day public comment period. After comments are considered, a final LCD is issued, which goes into effect after a minimum 45-day notification period.
07:14 EDTMYGNMyriad Genetics sees FY15 EPS $1.90-$2.00, consensus $1.93
Backs FY15 revenue guidance of $800M-$820M, consensus 804.15M.
07:14 EDTMYGNMyriad Genetics sees Q1 adjusted EPS 25c, consensus 41c
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07:00 EDTMYGNMyriad Genetics trading halted, pending news
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October 16, 2014
15:10 EDTDGXAmerican College of Gastroenterology to hold annual meeting
ACG Annual Scientific Meeting 2014 to be held in Philadlephia, PA on October 17-22.
10:01 EDTILMNOn The Fly: Analyst Upgrade Summary
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05:33 EDTILMNIllumina upgraded to Overweight from Neutral at Piper Jaffray
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October 15, 2014
19:16 EDTLHLabCorp acquisition of LipoScience clears antitrust approval
Laboratory Corporation of America Holdings, or LabCorp (LH), announced that the Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 applicable to the acquisition of LipoScience, Inc. (LPDX) by LabCorp. The transaction is expected to close in Q4.
16:11 EDTLHLabCorp's LipoScience acquisition clears antitrust approval
LipoScience (LPDX) announced that the Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 applicable to the acquisition of LipoScience by Laboratory Corporation of America Holdings (LH). The transaction remains subject to other customary closing conditions set forth in the Agreement and Plan of Merger, dated September 24. The transaction is expected to close in Q4.
06:32 EDTILMNIllumina to invest in three genomics industry startups
Illumina selected three startup companies for the inaugural Illumina Accelerator funding cycle. The companies are Encoded Genomics, EpiBiome and Xcell Biosciences. The Illumina Accelerator will provide selected startups with seed investment, business guidance, access to Illumina’s sequencing systems and reagents, and fully operational lab space in the San Francisco Bay Area during the six-month cycle.
October 14, 2014
08:15 EDTILMNIllumina should report stronger than expected results, says Wedbush
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October 9, 2014
14:54 EDTMYGNCapital World Investors reports 10.5% passive stake in Myriad Genetics
10:00 EDTQGENOn The Fly: Analyst Initiation Summary
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07:46 EDTQGENQIAGEN initiated with a Neutral at Citigroup
Target $25.
October 8, 2014
16:09 EDTMYGN, LHMyriad Genetics appoints former LabCorp executive Riggsbee as CFO
Myriad Genetics (MYGN) announced the appointment of R. Bryan Riggsbee as executive vice president, CFO, and Treasurer effective October 16. Jim Evans will continue in his role as CFO through the transition to Riggsbee, the company stated. Riggsbee most recently served as the senior vice president, Corporate Finance at Laboratory Corporation of America (LH).
07:18 EDTQGEN, DGXInfectious Diseases Society of America to hold a conference
ID Week 2014 is being held in Philadelphia on October 8-12.
October 7, 2014
09:49 EDTLH, DGXUBS healthcare services analyst holds an analyst/industry conference call
Healthcare Services Analyst Rice, along with Dr. Robert Boorstein, Clinical Lab Assessment Director of ClasGroup, discuss the health of the clinical lab market and how DGX and LH are competitively positioned for the long-term on an Analyst/Industry conference call to be held on October 7 at 11 am.
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