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Stock Market & Financial Investment News

News Breaks
July 1, 2014
12:34 EDTSNY, AYI, REGN, TWTR, STAA, FOLD, NFLXOn The Fly: Midday Wrap
Stocks on Wall Street were sharply higher at midday in the first trading day of the month and the new quarter. The market has not had such a good start to the second half of a year since 2011. The day’s domestic economic data was generally in-line with expectations, while reports from abroad confirmed that manufacturing expanded last month in China and in the eurozone. ECONOMIC EVENTS: In the U.S., two separate manufacturing readings were released. Markit's manufacturing purchasing manager's index for June had a final reading of 57.3, which was a hair below the 57.5 flash estimate but up from May's 56.4 reading. ISM's manufacturing index slipped very slightly to 55.3 in June from May's 55.4 figure. Construction spending increased 0.1% in May, missing the forecast for 0.5% growth. In China, the purchasing manager's index reading from HSBC and Markit came in at 50.7, which was a bit below the preliminary reading but above the 50 mark that indicates expansion for the first time since December. In Europe, Markit's final eurozone manufacturing PMI for June came in at 51.8, which was down from 52.2 in the prior month and below the earlier flash estimate of 51.9, but still indicated expansion in the sector. COMPANY NEWS: Shares of Netflix (NFLX) climbed 6% after Goldman Sachs upgraded the stock in a note to investors earlier today, predicting that Netflix's total worldwide market will more than double over the next three years and its subscriber growth will continue to exceed expectations... Twitter (TWTR) rose more than 4% after hiring Anthony Noto as its new Chief Financial Officer away from Goldman Sachs (GS), which had handled the social network's IPO. Noto served as a Managing Director in the Technology, Media and Telecom group at Goldman since October 2010 after having served as the CFO of the National Football League previously. MAJOR MOVERS: Among the notable gainers was Amicus Therapeutics (FOLD), which rose 23% following upgrades at Leerink and Janney Capital that came a day after the company provided updates on its potential monotherapy for Fabry patients. Also higher was Regeneron (REGN), which advanced 7% after Sanofi (SNY) disclosed in a regulatory filing that it plans to increase its beneficial ownership stake in its smaller pharmaceutical industry peer to 22.5% from 20.5%. Among the noteworthy losers was STAAR Surgical (STAA), which dropped 18% after it received a warning letter from the FDA following the regulator's inspection of a manufacturing plant. Also lower following its earnings reports was lighting solutions maker Acuity Brands (AYI), which fell 13% after its sales and profits missed expectations. INDEXES: Near midday, the Dow was up 134.80, or 0.8%, to 16,961.40, the Nasdaq was up 50.88, or 1.15%, to 4,459.06, and the S&P 500 was up 13.62, or 0.69%, to 1,973.85.
News For NFLX;TWTR;AYI;FOLD;REGN;SNY;STAA From The Last 14 Days
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November 16, 2014
14:53 EDTFOLDAmicus announces positive data from Fabry monotherapy study
Amicus Therapeutics announced additional positive data on important secondary endpoints from its second Phase 3 study of the oral small molecule chaperone migalastat HCl for Fabry disease. In a poster1 at the American Society of Nephrology Kidney Week 2014, results were presented from Fabry patients with amenable mutations in Study 012 who switched from standard of care enzyme replacement therapy, ERT, to migalastat as their only therapy for Fabry disease. Data from the Fabry Registry indicate that the leading cause of death in patients is from cardiac complications2. In Study 012, patients who switched from ERT to migalastat showed a statistically significant decrease from baseline to month 18 in left ventricular mass index-LVMi. LVMi is a measure of cardiac hypertrophy, an increase in the size of the heart that has been associated with an increased risk of cardiac events in Fabry patients."Cardiac disease represents a major cause of morbidity and mortality in Fabry patients that is not adequately addressed with currently available treatment," said Professor Ales Linhart, MD, PhD, a leading expert in the cardiac manifestations of Fabry disease from Charles University of Prague. "The data showing further regression of left ventricular mass in patients switched from ERT to migalastat in this study are very promising since in other cardiac conditions a reduction of cardiac mass typically translates to significant improvements in long term outcomes."
14:44 EDTSNYRegulus, Sanofi present new data enhancing the preclinical profile of RG-012
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12:56 EDTSNYGenzyme’s Lemtrada approved by the FDA
Genzyme, a Sanofi company, announced that the U.S. Food and Drug Administration has approved Lemtrada, alemtuzumab, for the treatment of patients with relapsing forms of multiple sclerosis. Because of its safety profile, the use of Lemtrada should generally be reserved for patients who have had an inadequate response to two or more drugs indicated for the treatment of MS. “Today’s approval is the culmination of more than a decade of work by Genzyme to develop Lemtrada,” said Genzyme President and CEO, David Meeker. “Lemtrada demonstrated superior efficacy over Rebif on annualized relapse rates in the two studies which were the basis for approval. A comprehensive risk evaluation and mitigation strategy will be instituted in order to help detect and manage the serious risks identified with treatment.” The FDA approval of Lemtrada is based on two pivotal randomized Phase III open-label rater-blinded studies comparing treatment with Lemtrada to Rebif in patients with relapsing remitting MS who were either new to treatment or who had relapsed while on prior therapy . In CARE-MS I, Lemtrada was significantly more effective than interferon beta-1a at reducing annualized relapse rates; the difference observed in slowing disability progression did not reach statistical significance. In CARE-MS II, Lemtrada was significantly more effective than interferon beta-1a at reducing annualized relapse rates, and accumulation of disability was significantly slowed in patients given Lemtrada vs. interferon beta-1a. The clinical development program for Lemtrada involved nearly 1,500 patients with more than 6,400 patient-years of safety follow-up. “The unmet need in MS remains high,” said Edward Fox, M.D., Ph.D., Director of the Multiple Sclerosis Clinic of Central Texas. “It is a great day for people living with relapsing forms of MS in the United States, who will now have access to this new meaningful treatment”.
November 14, 2014
17:07 EDTNFLXSoros Fund Management gives quarterly update on stakes
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17:01 EDTNFLXIcahn Associates gives quarterly update on stakes
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16:26 EDTTWTRNasdaq clear leader as major averages end week higher
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16:01 EDTTWTR, NFLXOptions Update; November 14, 2014
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14:53 EDTSNYCVS Express Scripts implementing drug price controls, says Cleveland Research
Cleveland Research believes that CVS (CVS) and Express scripts are implementing rebates and price controls on drug. The firm expects the companies to increase their focus on controlling durg prices next year, and adds that they have already itnroduced prior authorization criteria for hepatitis drug. Publicly traded drug companies include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY). Makers of hepatits c drugs include AbbVie (ABBV) and Gilead (GILD),
11:37 EDTNFLXNetflix shuts down public API today, Gigaom reports
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09:38 EDTTWTRActive equity options trading
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06:19 EDTNFLXStocks with implied volatility below IV index mean; PCLN NFLX
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November 13, 2014
16:03 EDTTWTROptions Update; November 13, 2014
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15:42 EDTTWTRTwitter heads for lows of the day following steady decline
The shares have been on a downside move since the start of the session. The initial gap up in price was met with selling that did not really pause for long. Volume is more than double the average. S&P assigned an unsolicited BB- corporate credit rating which has additionally weighed on the shares. At the current price of $40.26 next support is at $40, $39.38, and $37.45.
14:59 EDTTWTRS&P assigns Twitter unsolicited BB- rating
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11:22 EDTTWTRDan Niles says looking to short more of Twitter
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09:40 EDTTWTRActive equity options trading
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08:58 EDTTWTRTwitter analyst day yields cohesive growth strategy, says Canaccord
Canaccord said Twitter's analyst day presentation yielded a cohesive strategy, which increased their confidence in management. The firm continues to like the stock, citing the company's broadly defined user base and engagement and the monetization potential of these users. Canaccord reiterated its Buy rating and $56 price target on Twitter shares.
08:58 EDTTWTRTwitter met needs at Investor Day, says RBC Capital
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07:40 EDTSNYSanofi investor meeting timing tough in light of CEO ouster, Reuters says
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07:24 EDTTWTRTwitter addressed key challenges at analyst day, says JPMorgan
JPMorgan reiterates an Overweight rating on Twitter with a $64 price target saying the company addressed the key challenges around product and monthly active users at its analyst day. The firm it is encouraged that new product launches over the next 12 months will be heavier than it's ever been.
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