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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 company’s 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: Myriad’s 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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May 5, 2015
16:22 EDTMYGNMyriad Genetics sees Q4 adjusted EPS 40c-42c, consensus 49c
Sees Q4 revenue $187M-$189M, consensus $197.97M. The company said, "The primary reasons for this guidance revision are related to the impact of severe weather on our fiscal third-quarter revenue, a delay in Medicare reimbursement for Prolaris until the first quarter of fiscal year 2016, and a delay in international reimbursement."
16:21 EDTMYGNMyriad Genetics reports Q3 adjusted EPS 40c, consensus 39c
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16:13 EDTGHDXGenomic Health reports Q1 EPS (30c), consensus (26c)
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16:11 EDTTROVTrovagene reports Q1 EPS (33c), consensus (24c)
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15:02 EDTMYGNNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Mylan (MYL), consensus 69c... Devon Energy (DVN), consensus 26c... Pioneer Natural Resources (PXD), consensus 8c... CenturyLink (CTL), consensus 59c... Plains All American Pipeline (PAA), consensus 54c... Fiserv (FISV), consensus 86c... Electronic Arts (EA), consensus 25c... Plains GP Holdings (PAGP), consensus 14c... Agrium (AGU), consensus 34c... ONEOK (OKE), consensus 36c... Western Gas Partners (WES), consensus 44c... Digital Realty Trust (DLR), consensus $1.23... Newfield Exploration (NFX), consensus 8c... Community Health Systems (CYH), consensus 66c... SolarCity (SCTY), consensus (1.58)... Qiagen (QGEN), consensus 22c... Zillow (Z), consensus (11c)... Groupon (GRPN), consensus 1c... RenaissanceRe Holdings (RNR), consensus $2.43... Gulfport Energy (GPOR), consensus (9c)... SM Energy (SM), consensus 31c... Herbalife (HLF), consensus $1.01... Kinross Gold (KGC), consensus 0c... Myriad Genetics (MYGN), consensus 39c... Delek US (DK), consensus 10c... IAMGOLD (IAG), consensus (4c)... Halcón Resources (HK), consensus (2c).
06:15 EDTMYGN, GHDXMyriad Genetics fights to sustain business model, WSJ reports
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May 4, 2015
09:50 EDTMYGNLeerink to hold next-generation sequencing meeting
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07:12 EDTMYGN, SQNMAmerican Congress of Obstetrics and Gynecology
2015 ACOG Annual Clinical & Scientific Meeting is being held in San Francisco on May 2-6.
May 3, 2015
17:19 EDTMYGNMyriad Genetics CEO 'actively' searching for acquisitions, WSJ says
In a Wall Street Journal interview, Myriad (MYGN) CEO Mark Capone said the company is currently developing tests for diabetes, autoimmune disorders, and neuropsychiatric conditions, while also "actively looking" for acquisitions. In a separate interview, Robert McDonough, head of Aetna's (AET) clinical policy research, remarked that Myriad should "eventually" be able to have its Vectra DA rheumatoid arthritis test covered by insurance. Reference Link
May 1, 2015
11:41 EDTTROVTrovagene up 14% to $8.84 following Altucher mention
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April 30, 2015
08:10 EDTGHDXGenomic Health's Oncotype prostate cancer shows positive results
Genomic Health announced positive published results from the first decision impact study of the Oncotype DX prostate cancer test showing that use of the test substantially increased the number of men who can consider active surveillance, while increasing physician confidence in their treatment recommendations. This prospective study showed that incorporation of the Genomic Prostate Score changed modality and/or intensity of treatment recommendations in 26% of patients across multiple urology practice settings. Additionally, 85% of urologists were more confident in their treatment recommendation following review of the GPS.
April 21, 2015
06:40 EDTMYGNStart-up to offer saliva test for breast cancer susceptibility, NY Times says
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