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Stock Market & Financial Investment News

News Breaks
May 15, 2014
14:23 EDTNKTRNektar June volatility elevated at 127 into ASCO
Nektar June call option implied volatility is at 84, August is at 78, November is at 70; compared to its 26-week average of 70 according to Track Data, suggesting large near term price movement into ASCO's 50th annual meeting taking place May 30 through June 3.
News For NKTR From The Last 14 Days
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March 24, 2015
10:17 EDTNKTROptions with decreasing implied volatility
Options with decreasing implied volatility: FOLD NKTR GES VHC CTRP WSM WLL LNCO NLY ORCL
March 23, 2015
11:22 EDTNKTROptions with decreasing implied volatility
Options with decreasing implied volatility: FOLD NKTR RUSL XONE GES CTRP WSM NLY ADBE ORCL
March 20, 2015
10:18 EDTNKTROptions with decreasing implied volatility
Options with decreasing implied volatility: NKTR FOLD RUSL RSX ORCL GES CTRP SLXP WSM SPXS
March 19, 2015
10:42 EDTNKTROptions with decreasing implied volatility
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08:37 EDTNKTRNektar and Daiichi Sankyo to commercialize Movantik in the U.S.
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March 18, 2015
12:38 EDTNKTROn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday ahead of the conclusion of the Federal Reserve's latest rate setting meeting and the central bank's accompanying announcements. The averages began the session in negative territory and have been range-bound throughout the morning. The Dow was down triple digits once again, making 8 consecutive days that the blue chip index has seen a triple digit move. ECONOMIC EVENTS: In the U.S., the DOE petroleum inventory reports showed a 9.6M barrel rise in crude stocks in the week of March 13, versus expectations for a 4.4M build. The day's big economic news is yet to come, with the Fed's FOMC meeting announcement due at 2:00 pm EDT and Fed Chair Yellen holding a press conference a half hour later. Elsewhere, Prime Minister Benjamin Netanyahu unexpectedly defeated his main challenger in Israelís election and his Likud party appears set to capture more parliament seats. COMPANY NEWS: Shares of FedEx (FDX) slid 2.5% after the shipping giant reported earnings that beat estimates, but revenue that fell short of the consensus forecast, for its third fiscal quarter. FedEx noted that it expects to deliver "record" yearly earnings for the current fiscal year and next fiscal year as well... Oracle (ORCL) shares rose 2.5% after the company's third quarter profits matched expectations and it raised its quarterly dividend 25%. MAJOR MOVERS: Among the notable gainers was Vitesse Semiconductor (VTSS), which jumped 37% after the company agreed to be acquired for $5.28 per share in cash by Microsemi (MSCC). Also higher was Retrophin (RTRX), which rose 28% after the company said it will exercise its right to purchase from Asklepion Pharmaceuticals all worldwide rights, titles, and ownership of Cholbam after the FDA approved the drug for the treatment of pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects and for patients with peroxisomal disorders. Among the noteworthy losers was Willbros Group (WG), which dropped 55% and was downgraded to Underperform at DA Davidson after announcing its earnings report will be delayed and the company is in potential non-compliance with debt covenants. Also lower following their earnings reports were Nektar Therapeutics (NKTR), which fell 15% after the company's Phase III BEACON metastatic breast cancer study missed its primary endpoint. INDEXES: Near midday, the Dow was down 105.02, or 0.59%, to 17,744.06, the Nasdaq was down 12.45, or 0.25%, to 4,924.99, and the S&P 500 was down 7.69, or 0.37%, to 2,066.59.
10:12 EDTNKTRNektar recovers off earlier low, levels to watch
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09:23 EDTNKTROn The Fly: Pre-market Movers
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08:07 EDTNKTRNektar weakness a buying opportunity, says Brean Capital
Brean Capital said it would use any weakness following Nektar's announcement of top line results for its breast cancer drug trial as a buying opportunity. The firm noted the trial missed its primary and secondary endpoints and has removed the revenue from their estimates, leading to a lowering of its price target to $17 from $20, but maintained its Buy rating on Nektar shares, citing its other opportunities.
07:02 EDTNKTRNektar price target lowered to $15 from $20 at Piper Jaffray
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06:49 EDTNKTRNektar price target lowered to $17 from $19 at JPMorgan
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March 17, 2015
19:42 EDTNKTROn The Fly: After Hours Movers
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17:51 EDTNKTRNektar down 18% after NKTR-102 trial did not achieve statistical significance
17:40 EDTNKTRNektar to resume trading at 5:50 pm ET
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16:19 EDTNKTRNektar says NKTR-102 trial did not achieve statistical significance
Nektar Therapeutics announced topline results from its Phase 3 BEACON study evaluating single-agent NKTR-102 in patients with advanced breast cancer. BEACON compared NKTR-102 to an active control arm comprised of a single chemotherapy agent of physician's choice in patients who were heavily pre-treated with a median of three prior therapies for metastatic disease. In a topline analysis of 852 patients from the trial, NKTR-102 provided a 2.1 month improvement in median overall survival over TPC. Based on a stratified log-rank analysis, the primary endpoint measuring the Hazard Ratio for survival in the NKTR-102 group compared to the active control arm was 0.87 with a p-value of 0.08, which did not achieve statistical significance. In a pre-specified subgroup of patients with a history of brain metastases, NKTR-102 showed an improvement of 5.2 months in median OS. The proportion of patients with brain metastases with 12-month survival was 44.4% in the NKTR-102 arm as compared to 19.4% in the control arm. In a pre-specified subgroup of patients with baseline liver metastases at study entry, NKTR-102 showed an improvement of 2.6 months in median OS. In these patients with baseline liver metastases, the proportion of patients with 12-month survival was 46.9% in the NKTR-102 arm as compared to 33.3% in the control arm. Secondary endpoints in the BEACON study included objective response rate and progression-free survival, which did not achieve statistical significance in the study. Nektar will continue to review and analyze the data from the BEACON study. Data from the BEACON study will be submitted for presentation at an upcoming medical meeting. "It is clear from our BEACON study that NKTR-102 has potential as an important anti-cancer agent when compared to the best available treatment options today for women with advanced breast cancer. Given the significant need for new drugs to treat patients with this devastating disease, we will be exploring potential paths forward for NKTR-102 in metastatic breast cancer with regulatory agencies," said Howard Robin, president and CEO of Nektar Therapeutics.
16:17 EDTNKTRNektar to explore potential regulatory pathways for NKTR-102 in U.S., Europe
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16:16 EDTNKTRNektar says NKTR-102 trial did not achieve statistical significance
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