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Stock Market & Financial Investment News

News Breaks
February 5, 2014
11:40 EDTGHDX, MYGN, TROV, SQNMMyriad 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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February 8, 2016
08:22 EDTMYGNMyriad Genetics management to meet with JPMorgan
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February 7, 2016
14:27 EDTMYGNMyriad Genetics management to meet with Stephens
Meeting to be held in Boston on February 9 hosted by Stephens.
February 2, 2016
19:22 EDTMYGNOn The Fly: After Hours Movers
UP AFTER EARNINGS: Boot Barn (BOOT), up 16.5%... Wabash National (WNC), up 9.7%... Oclaro (OCLR), up 6.8%... Myriad Genetics (MYGN), up 8%... Ultimate Software Group (ULTI), up 6.2%... Natural Health (NHTC), up 6.2%... Edwards Lifesciences (EW), up 6.2%... Viavi Solutions (VIAV), up 2.4%... Gilead Sciences (GILD), up just under 1%. DOWN AFTER EARNINGS: Match Group (MTCH), down 7.3%... Yahoo (YHOO), down 1.2%... Chipotle (CMG), down 7.1%. ALSO LOWER: Barnes & Noble (BKS), down 2.4% after General Growth (GGP) CEO Sandeep Mathrani announced that Amazon (AMZN) is going to open 300-400 brick-and-mortar bookstores.
16:10 EDTMYGNMyriad Genetics sees FY16 EPS $1.63-$1.68, consensus $1.64
Sees FY16 revenue $750-$770M , consensus $759.25M.
16:09 EDTMYGNMyriad Genetics sees Q3 EPS 37c-39c, consensus 40c
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16:07 EDTMYGNMyriad Genetics reports Q2 EPS 45c, consensus 41c
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14:32 EDTMYGNNotable companies reporting after market close
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February 1, 2016
05:31 EDTTROVTrovagene enters agreement with FedMed
Trovagene announced that it has entered into an agreement with FedMed establishing health benefit access to Trovagene's full line of Precision Cancer Monitoring, or PCM, tests and services. Under the agreement, Trovagene's PCM services are covered as a participating laboratory testing provider for clients of FedMed, which include major health insurers such as Aetna, Cigna and Humana, and encompasses over 550,000 in-network physicians nationwide.

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