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Stock Market & Financial Investment News

News Breaks
February 5, 2014
11:40 EDTTROV, SQNM, GHDX, MYGNMyriad Genetics rallies after buying rival, increasing 2014 outlook
Shares of molecular diagnostic company Myriad Genetics (MYGN) are climbing after the company reported second quarter results that beat consensus expectations, raised its fiscal 2014 outlook, and announced an acquisition. WHAT'S NEW: Last night, Myriad Genetics reported second quarter earnings per share of 66c and revenue of $204.1M, easily topping analysts' consensus expectations of 46c and $176.02M, respectively. The company raised its FY14 EPS view to $2.09-$2.14 from $1.92-$1.97, and boosted its FY14 revenue outlook to $740M-$750M from $700M-$715M. FY14 consensus estimates were $1.97 and $705.62M prior to the company's announcement. In addition, the company said it has a definitive agreement to acquire rival Crescendo Bioscience for $270M in cash. ANALYST REACTION: This morning, analyst commentary was mixed. Research firm JMP Securities upgraded Myriad Genetics to Market Perform from Underperform citing the companyís stronger than expected results. Conversely, Ladenburg downgraded Myriad to Neutral from Buy, citing valuation. PRICE ACTION: In late morning trading, Myriad rose $2.72, or 10%, to $29.90 on more than twice its average daily trading volume. The stock is up about 10% over the past twelve months. OTHERS TO WATCH: Myriadís competitors include Sequenom (SQNM), TrovaGene (TROV), and Genomic Health (GHDX).
News For MYGN;SQNM;TROV;GHDX From The Last 14 Days
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November 20, 2014
09:19 EDTTROVTrovagene's cancer monitoring technology shows detection ability
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07:51 EDTMYGNTESARO, Myriad Genetics announce companion diagnostics collaboration
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November 19, 2014
08:05 EDTGHDXGenomic Health reports publication of results from second Oncotype DX validation
Genomic Health announced multiple upcoming presentations at the 2014 Society of Urologic Oncology Annual Meeting, including the second large, independent clinical validation study of the Oncotype DX prostate cancer test and results from the first prostate cancer decision impact study. The results from the latest validation study of the test, conducted in collaboration with the Center for Prostate Disease Research, have been accepted for publication in European Urology. Separately, the results of the first decision impact study of the Oncotype DX prostate cancer test, conducted in collaboration with academic and community practices at Columbia University, Delaware Valley Urology and Orange County Urology, have been accepted for publication in Urology Practice, an official journal of the American Urological Association. Additionally, Genomic Health will present results from its first liquid biopsy study assessing multiple technologies, including next-generation sequencing, for their ability to detect and analyze the presence of bladder cancer in urine.
07:08 EDTMYGNCrescendo data shows Vectra DA is better predictor of joint damage in RA
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November 14, 2014
07:14 EDTMYGNAmerican College of Rheumatology is holding a meeting
2014 ACR/ARHP Annual Meeting is being held in Boston on November 14-19.

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