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Stock Market & Financial Investment News

News For NVO;VPHM;INFI;MRK;AGN;SHPG;SGEN;OREX;AMGN;SNY;JNJ;PFE From The Last 14 Days
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February 3, 2016
09:05 EDTMRKMerck says don't read into discounting strategy based on pricing of hep C drug
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08:57 EDTAMGNPullback in biotech makes M&A more attractive, says UBS
UBS analyst Andrew Peters noted the pullback in small and mid-cap biotechs and said a consequence of the lower valuations may be an increased appetite for M&A by the larger firms. Peters noted Gilead (GILD) commented on its earnings call that "there's no question" the pullback has made M&A more attractive. UBS said with valuations so far off their highs, the question remains whether management and boards will accept deals at such depressed levels.
08:54 EDTMRKMerck Chairman says industry must price products consistent with value provided
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08:48 EDTAMGNWorkday appoints Diana McKenzie as Chief Information Officer
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08:43 EDTMRKMerck says main focus of deals to be augmenting pipeline
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08:36 EDTMRKMerck says looking for M&A, partnership opportunities in oncology, other areas
Merck executives said on the company's Q4 earnings call that they "have paid attention to what's happened in the marketplace" and are working "very actively" to reach the right kind of deals, whether they are M&A or partnerships. The executives said they are "very focused" on value creating opportunities and active in looking for opportunities in oncology and other therapeutic areas where they can build the company's pipeline.
08:21 EDTPFEAxovant Sciences has negative read through from Pfizer decision, says Chardan
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08:17 EDTMRKMerck sees growing Januvia franchise in 2016 ex-exchange
Merck said it expects to grow the Januvia franchise in 2016 ex-exchange despite increased pricing pressure. The company said it has maintained a high market share of about 75% in the U.S. and 65% globally. Merck said that, while still early, customer feedback is very positive on Bridion. Merck said it believes its pricing strategy for hepatitis C treatment Zapatier will "maximize revenue and market share" as well as broaden and accelerate patient access. Comments from Merck's Q4 earnings conference call.
08:07 EDTSHPGMedgenics names Brian Piper to succeed John Leaman as CFO
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07:38 EDTPFEAxovant Sciences weakness a buying opportunity, says Baird
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06:48 EDTMRKMerck sees FY16 non-GAAP marketing and administrative expenses below 2015 levels
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06:48 EDTMRKMerck reports Q4 Animal Health sales $830M
06:47 EDTMRKMerck reports Q4 Januvia/Janumet sales $1.45B
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06:46 EDTMRKMerck sees FY16 non-GAAP EPS $3.60-$3.75, consensus $3.72
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06:46 EDTMRKMerck reports Q4 non-GAAP EPS 93c, consensus 91c
Reports Q4 revenue $10.22B, consensus $10.35B.
06:13 EDTAGN, PFEPfizer insists Allergan deal won't be thwarted by U.S. politicians, FT says
Pfizer (PFE) has insisted that its $160B acquisition of Allergan (AGN) will not be stifled by political opposition, amid criticism that the deal will cost the U.S. Treasury billions of dollars in future tax revenues, the Financial Times reports. Pfizer CEO Ian Read also reiterated his intention to postpone until 2018 a decision on whether to break of the combined entity into two or three smaller companies, but has said that he would be open to offers for its generics unit, the report says. Mylan (MYL) has been connected to a potential acquisition of Pfizer's generic drugs business after it failed in its attempt to buy Perrigo (PRGO) last year, the report says. Reference Link
February 2, 2016
14:32 EDTMRKNotable companies reporting before tomorrow's open
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13:54 EDTMRKMerck technical comments ahead of earnings news
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13:35 EDTMRKEarnings Watch: Merck down over 5% since last earnings report
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12:03 EDTPFEOn The Fly: Top stock stories at midday
Wall Street began the session in negative territory and the averages have remained there throughout the day as oil once again weighs on stocks. The price of oil has slid another 4%, giving the commodity a roughly 10% loss over the past two trading sessions. The market's late day rally yesterday gave hope for a decoupling between equities and oil prices, but that appears to be a one day reprieve as the stocks are back in lock-step with crude prices. ECONOMIC EVENTS: In the U.S., the economic calendar was quiet. In Europe, statistics agency Eurostat reported that unemployment across the eurozone decreased by 49,000 to a total of 16.75M in December dropping the unemployment rate to its lowest since September 2011 at 10.4%. In central bank news, the Reserve Bank of Australia and Reserve Bank of India both held their benchmark interest rates steady, as expected. COMPANY NEWS: Class A shares of Alphabet (GOOGL) advanced 5% in the wake of its report of better than expected quarterly earnings and revenue, pushing Google's parent company to overtake Apple (AAPL) as the world's most valuable publicly-traded company in the process... Exxon Mobil (XOM) reported better than expected revenue and profits in the fourth quarter, but its shares slid 2.5% amid the renewed weakness in oil prices. Shares of fellow oil major BP (BP) plunged 8% in New York trading after reporting a steep quarterly loss, largely due to $2.6B in charges related to impairments of Upstream assets as well as restructuring... Pfizer (PFE) reported better than expected fourth quarter results, but forecast 2016 revenue and earnings below analysts' estimates, pushing its shares down fractionally. MAJOR MOVERS: Among the notable gainers was Syngenta (SYT), which rallied 4.5% after Bloomberg reported that ChemChina was close to a deal to buy the company for nearly $43B. Also higher were Mattel (MAT), Michael Kors (KORS), and Fabrinet (FN), which gained 12%, 22%, and 12.5%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Twitter (TWTR), which fell 8% after it was downgraded to Sell at Stifel and following a report claimed that tweets on the service are down 50% from their peak. Also lower were AGCO (AGCO), Harris (HRS), and Pitney Bowes (PBI), which were down 10%, 9.5%, and 11%, respectively, after reporting quarterly earnings. In addition, Ford (F) and General Motors (GM) lost 4% and 3.6%, respectively, after reporting U.S. sales for the month of January. INDEXES: Near midday, the Dow was down 239.86, or 1.46%, to 16,209.32, the Nasdaq was down 64.83, or 1.4%, to 4,555.54, and the S&P 500 was down 27.87, or 1.44%, to 1,911.51.
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