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Stock Market & Financial Investment News

News Breaks
July 15, 2013
11:49 EDTFDO, BMC, AA, YUM, OPKOptions with decreasing implied volatility: OPK AA FDO YUM BMC
News For OPK;AA;FDO;YUM;BMC From The Last 14 Days
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August 31, 2015
06:10 EDTAAAlcoa implied volatility of 56 at upper end of index
August 28, 2015
10:20 EDTAAAlcoa rallies with Freeport-McMoRan, materials sector
Shares are up over 5% to $9.33 at time of writing, putting it above downtrend resistance at the 10-day moving average. At that price next resistance is at $9.51. Support is at $9.19.
August 27, 2015
18:16 EDTYUMLabor Relations Board revises joint employer policy
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August 26, 2015
10:24 EDTAACentury Aluminum to curtail Hawesville operations due to weak prices
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09:15 EDTOPKOPKO CEO Frost issues letter to shareholders on Bio-Reference deal
OPKO Health (OPK) chairman and CEO Phillip Frost released a letter to shareholders regarding the recently announced acquisition of Bio-Reference Laboratories (BRLI). "The strategy behind the recent Bio-Reference acquisition is twofold. First, it is a business whose revenues and profits have grown consistently since its launch by Dr. Marc Grodman in the 1980's, primarily through organic growth, to become the third largest full service reference laboratory in the United States," the letter reads. "It has built a reputation of innovation with recognized franchises in women's health, cancer and, more recently, genetics, helping physicians worldwide to diagnose rare genetic disorders and to identify special features of a patient's genetic material to select more effective chemotherapy. Second, it provides an infrastructure for marketing and sales that reaches approximately 10M patients a year." The letter adds that the 4Kscore test confirms elevated PSA tests have reduced costs by roughly $1B and, if the costs of downstream treatment interventions are also considered, there could be $2.5B additional annual savings to the U.S. health care system. "Among the many compelling reasons for the acquisition, we believe Bio-Reference will greatly accelerate the commercial success of the 4Kscore test," the letter continues. "Bio-Reference has the capacity to dramatically increase the number of 4Kscore tests done each day. They provide national marketing and distribution with a large client services group and a large dedicated sales force that already have strong relationships with primary care physicians. Bio-Reference has over 1,200 phlebotomists and 180 blood-draw centers around the country that can facilitate patient access. Finally, Bio-Reference has robust billing operations and a seasoned national reimbursement team that participates in almost every major commercial insurance plan. Bio-Reference has the expertise and extensive infrastructure to help make the 4Kscore test the new standard for identifying aggressive prostate cancer in men with a suspicious PSA." To close the letter, Frost wrote, "Given Bio-Reference's historical seasonal trends, we expect the second half of 2015 to show continuing growth in earnings and profits. We further expect that the contributions of Bio-Reference, FineTech and EirGen, will create positive EBITDA, or earnings before interest, income taxes, depreciation and amortization, for OPKO. Finally, we expect to continue to invest in research and development activities which, if successful, will result in ongoing improvement of our financial performance."
August 20, 2015
17:19 EDTOPKInnospec to replace Bio-Reference Labs in S&P 600 as of 8/21 close
OPKO Health (OPK) is acquiring Bio-Reference Laboratories (BRLI) in a deal that closed August 20.
10:43 EDTOPKOPKO Health completes acquisition of Bio-Reference Labs
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August 19, 2015
16:58 EDTYUMOn The Fly: Top stock stories for Wednesday
The market opened deep in negative territory after a tumultuous trading session in China and a softer than expected U.S. consumer prices report. Sellers continued to push the averages lower throughout the morning, with the Dow tacking on losses of more than 200 points as investors waited for the release of the Fed minutes. The market rallied following an early leak of the minutes, which suggested officials are getting closer to raising rates but appear to be waiting for additional data. Despite the afternoon rally, the averages sold off once again heading into the close, leaving all three indices in the negatives for Wednesday. ECONOMIC EVENTS: In the U.S., the July consumer price index edged up 0.1% against expectations for 0.2% reading. The core reading, which excludes food and energy, also came in at 0.1% versus consensus estimates of 0.2%. There were no revisions to the 0.3% headline gain in June or the 0.2% growth in the ex-food and energy component. Component gains were muted across the board, with Energy prices up just 0.1% in July. Meanwhile, FOMC minutes showed no definitive indication of a September rate hike. Most committee members "judged that the conditions for policy firming had not yet been achieved, but they noted that conditions were approaching that point." Other members, however, believed that the inflation outlook "might not soon meet one of the conditions... for initiating a firming of policy." COMPANY NEWS: Shares of Dot Hill Systems (HILL) soared $4.50, or 86.87%, to $9.68 after Seagate Technology (STX) agreed to acquire the company for $9.75 per share, noting that it expects the deal to be non-GAAP EPS accretive in fiscal 2016. Shares of the hard drive giant fell 5.03% to $49.43 for the session... Lowe's (LOW) shares saw gains of $1.34, or 1.84%, to $74.36 following the company's earnings report this morning, while Target (TGT) rose $59c, or 0.73%, to $80.89 after beating on both top and bottom lines. On a subsequent conference call, Target executives forecast a "choppy" competitive environment in Q3, though they added that the company "will not get beat" on promotions in Q4. Separately, American Eagle (AEO) lost 7.42% to $16.92 after its quarterly numbers. MAJOR MOVERS: Among the notable gainers were Palatin (PTN) and Apricus (APRI), showing respective advances of 3.19% and 7.89% after the FDA approved Sprout's female sexual dysfunction drug Addyi, with the agency remarking that it "continues to encourage drug development in this area." Note that both Palatin and Apricus are developing their own treatments in the space, and Apricus reaffirmed this morning its intent to seek a global partner as it advances its Femprox sexual dysfunction medication. Also higher was Yum! Brands (YUM), which gained $1.90, or 2.26%, to $86.10 after appointing a new CEO of its China division, adding that its same-store sales in the region "have turned significantly positive." Among the noteworthy losers was Rayonier Advanced Materials (RYAM), plunging $6.01, or 44.09%, to $7.62 after disclosing a legal battle with its customer Eastman Chemical (EMN) over "meet or release" contract stipulations which may impact Eastman's purchase obligations. Also lower was Caesarstone (CSTE), which lost $3.43, or 7.14%, to $44.61 after short-selling hedge fund Spruce Point said the stock has up to 75% downside due to heightened raw material costs and competitive concerns, among other factors. Separately, EOG Resources (EOG), Baytex Energy (BTE), and Vanguard Natural (VNR) saw respective losses of 4.15%, 15.53%, and 13.83% after WTI crude fell 5.02% for the session. INDEXES: The Dow declined 162.61, or 0.93%, to 17,348.73, the Nasdaq fell 40.30, or 0.80%, to 5,019.05, and the S&P 500 lost 17.31, or 0.83%, to 2,079.61.
14:35 EDTOPKBio-Reference Labs to host special shareholder meeting
Special Shareholder Meeting to vote on the proposed merger with OPKO Health will be held in Mahwah, New Jersey on August 20 at 9 am.
13:23 EDTYUMOptions with increasing call volume
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12:20 EDTOPKOPKO Health enters agreements with provider networks for lab testing services
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10:23 EDTYUMYum! gets a boost from China CEO change, sales commentary
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09:19 EDTYUMYum! Brands leadership change positive, says Bernstein
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August 18, 2015
18:32 EDTYUMOn The Fly: After Hours Movers
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16:34 EDTYUMYum! Brands appoints Micky Pant CEO of China Division
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09:29 EDTAAMorgan Stanley lowers Metals & Mining sector price targets by 33%
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August 17, 2015
10:55 EDTYUMOptions with increasing implied volatility
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