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Stock Market & Financial Investment News

News Breaks
April 23, 2014
08:25 EDTROIL, ROIL, PFIE, PFIE, ARSD, ARSD, UUUU, UUUU, SRNE, SRNE, VTEQ, VTEQ, SNWV, SNWV, OPXA, OPXA, CGIX, CGIX, GALT, GALT, OGEN, OGENRedChip Companies to hold a virtual conference
RedChip Virtual Conference to be held on April 23-24 with webcasted company presentations to begin on April 23 at 8:30 am. Webcast Link
News For OGEN;GALT;CGIX;OPXA;SNWV;VTEQ;SRNE;UUUU;ARSD;PFIE;ROIL From The Last 14 Days
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December 19, 2014
06:02 EDTSRNESorrento Therapeutics, Conkwest announce global collaboration
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December 15, 2014
16:36 EDTSRNEOn The Fly: Closing Wrap
The Dow began the session with triple digit gains, but the move was short lived and so was the positive start for the equities market, which tumbled with oil prices and struggled for the remainder of the session. The day’s economic reports, which included the Empire Manufacturing report, industrial production and capacity utilization reports, and the NAHB housing market index, had little effect on the market. Stocks recovered a bit but did not get back into the green before the close, with investors wondering how the Fed, which begins its final FOMC meeting of the year tomorrow, will view its strategy in light of the recent weakness in oil. ECONOMIC EVENTS: In the U.S., the Empire State manufacturing index fell to -3.6 in December, which was significantly worse than the expectation for it to rise to 12.4 from its prior 10.2 reading. Industrial production jumped 1.3% in November, which was better than the expected 0.7% increase. The NAHB homebuilder sentiment index fell one point to 57 in December, versus expectations for a one point rise to a 59 reading. Near noon, WTI crude was down more than 2% and was trading below $57 per barrel. COMPANY NEWS: Riverbed Technology (RVBD) rose $1.57, or 8.38%, to $20.31 after the company agreed to be acquired by private equity investment firm Thoma Bravo and the private investor department of Ontario Teachers’ Pension Plan. Riverbed stockholders will receive $21 per share in cash, or a total of approximately $3.6B, which Wells Fargo views as a "good decision" and good deal for the company given the challenges in its business... PetSmart (PETM) advanced $3.30, or 4.25%, to $80.97 after the company agreed to be acquired by a consortium led by BC Partners at a price of $83.00 per share in cash. However, the private equity backers of Petco that were not allowed to participate in the auction process because of competition concerns, Leonard Green & Partners and TPG, could still make a rival offer, according to The Deal Pipeline, citing a source familiar with the situation. MAJOR MOVERS: Among the notable gainers was Sorrento Therapeutics (SRNE), which advanced $1.50, or 25.86%, to $7.30 after the company announced that it has entered into a binding agreement with NantWorks founder Dr. Patrick Soon-Shiong to establish a strategic collaboration to jointly develop next generation immunotherapies for the treatment of cancer and auto-immune diseases. Also higher was Cirrus Logic (CRUS), which rallied $4.12, or 21.87%, to $22.96 after Barclays upgraded the stock two notches to Overweight from Underweight and said the company is poised to make significantly more money per each iPhone sold next year. Among the noteworthy losers was CGG SA (CGG), which was downgraded to Underperform at Raymond James and dropped $2.41, or 28.29%, to $6.11 after Technip (TKPPY) said that it does not plan to file a tender for the company after talks between the companies did not result in a deal. Also lower were shares of Habit Restaurants (HABT), which fell $7.20, or 17.19%, to $34.69 as analysts rolled out coverage of the stock following its IPO about a month ago. Amid the coverage initiations, Habit Restaurants shares were initiated with a Neutral and $41 price target at RW Baird, with a Market Perform rating at Wells Fargo, with an Equal Weight at Stephens and with an Overweight rating and $48 target at Piper Jaffray. INDEXES: The Dow fell 99.99, or 0.58%, to 17,180.84, the Nasdaq dropped 48.44, or 1.04%, to 4,605.16, and the S&P 500 declined 12.70, or 0.63%, to 1,989.63.
09:27 EDTSRNESorrento Therapeutics announces strategic investment by Nantworks founder
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December 9, 2014
07:32 EDTCGIXCancer Genetics to receive $530,000 through NJ Technology Business Tax Program
Cancer Genetics announced that it has received preliminary approval for a $570,000 tax credit from the New Jersey Technology Business Tax Certificate Transfer Program for the year 2014. The company anticipates that it will be able to transfer this credit and receive approximately $530,000 in cash in mid-December.
December 8, 2014
07:37 EDTCGIXCancer Genetics announces launch of sequencing based panel for CLL
Cancer Genetics announced it has been licensed by the Clinical Laboratory Improvement Amendments to perform Focus::CLL, the company's unique next-generation sequencing-based panel for chronic lymphocytic leukemia and small lymphocytic lymphoma. The panel assesses seven genes with clinical relevance for prognosis, disease management, and treatment selection. The targeted NGS panel was designed to offer actionable and immediately relevant information for clinicians. With an analytical sensitivity of 5%, the test is able to detect biomarker mutations and aberrations that are present at very low levels and which may be missed by other, less sensitive methodologies. Improved sensitivity can lead to enhanced diagnostic and prognostic capabilities for this disease and improved patient outcomes.

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