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Stock Market & Financial Investment News

News Breaks
June 20, 2014
09:17 EDTORCL, OC, ETE, NGLS, CLRX, SWHC, SNY, MACK, KMX, FDO, DRI, ABBV, SHPG, TRGPOn The Fly: Pre-market Movers
HIGHER: Shire (SHPG), up 16% after disclosing it rejected a takeover offer from AbbVie (ABBV). Bloomberg reported that AbbVie may increase its takeover offer following the rejection. Shares of AbbVie are also up 2% following the news... CarMax (KMX), up 16% after Q1 earnings beat analyst's consensus... Family Dollar (FDO), up 2.4% after Carl Icahn sent a letter to CEO urging an immediate sale. LOWER: Oracle (ORCL), down 5% after downgraded at Citigroup following the company's Q4 earnings results... Darden (DRI), down 4% after reporting Q4 earnings... Merrimack Pharmaceuticals (MACK), down 11% after announcing that it has reached an agreement with Sanofi (SNY) to regain worldwide rights to develop and commercialize MM-121... Smith & Wesson (SWHC), down 8% after guidance for Q1, FY15 miss expectations... Targa Resources Partners (NGLS), down 9.3% after downgraded at Wunderlich following news that the company's takeover talks with Energy Transfer Equity (ETE) ended without a deal. Targa Resources (TRGP), the parent of Targa Resources Partners, is down 9% after the news.. Owens Corning (OC), down 6% after cutting FY14 adjusted EBIT view... Hercules Offshore (HERO), down 6.8% after downgraded at Iberia... AK Steel (AKS), down 4.5% after giving Q2 EPS guidance.
News For ORCL;SHPG;ABBV;DRI;FDO;KMX;MACK;SNY;SWHC;CLRX;NGLS;ETE;OC;TRGP From The Last 14 Days
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August 12, 2014
11:24 EDTSHPGOptions with increasing implied volatility
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08:52 EDTSNYSanofi launches authorized generic version of Eloxatin through Winthrop US
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07:36 EDTFDODollar Tree filing shows Family Dollar talks underway before Icahn involvement
A regulatory filing explaining the history of the merger agreement between Dollar Tree (DLTR) and Family Dollar (FDO) showed that, on February 24, a representative of Dollar Tree's financial advisor, JPMorgan, made a telephone call to a representative of Morgan Stanley to express Dollar Tree's interest in discussing a potential business combination transaction with Family Dollar. The filing also states that on June 6 Carl Icahn and certain of his affiliates filed a Schedule 13D disclosing that together they beneficially owned approximately 9.39% of the then-outstanding shares of Family Dollar common stock and that they wished to discuss with Family Dollar its business and strategies to enhance stockholder value. That day, Icahn telephoned Howard Levine, Chairman and CEO of Family Dollar, to discuss the Schedule 13D filing and to express an interest in additional communications with Family Dollar's management regarding the company's current operations and future plans, including potential strategic opportunities and potential business combination transactions. Levine asked Icahn whether he would be willing to sign a non-disclosure agreement and Icahn declined, the filing stated. Additionally on June 6, a member of the board of directors of "Company A" emailed Levine to suggest that they speak. On June 7, Levine and the member of the board of directors of Company A had a telephone conversation, during which the representative of Company A "indicated that Company A would be reluctant to participate in the negotiation of a transaction with Family Dollar if Mr. Icahn were to have a role in or control over the process," the filing states, without identifying Company A. Many, including the Wall Street Journal, have surmised that "Company A" in the filing may refer to Dollar General (DG).
August 11, 2014
15:51 EDTSNYMannKind price target raised to $10 from $6.50 at Piper Jaffray
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13:49 EDTMACKMerrimack likely to sign MM-398 deal in near-term, says Brean Capital
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11:58 EDTSNYMannKind rallies after inking licensing agreement with Sanofi
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09:06 EDTSNYOn The Fly: Pre-market Movers
HIGHER: PharmAthene (PIP), up 55% after announcing that a Delaware court awarded the company lump sum expectation damages for the value of its lost profits for SIGA Technologies' (SIGA) smallpox antiviral, Tecovirimat... MannKind (MNKD), up 19% after entering exclusive licensing agreement for development and commercialization of Afrezza inhaled insulin with Sanofi (SNY)... Kinder Morgan (KMI), up 19% after announcing it will acquire all of the outstanding equity securities of Kinder Morgan Energy Partners (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB)... Tesla (TSLA), up 2.7% following upgrade at Deutsche Bank... Achillion (ACHN), up 6% following upgrades at Wells Fargo and at Piper Jaffray... PepsiCo (PEP), up 0.9% following upgrade at UBS. LOWER: Dean Foods (DF), down 8.6% after reporting Q2 losses that were steeper than expected, saying balance of year "appears rocky," which makes it difficult to provide guidance beyond the immediate quarter... Priceline (PCLN), down 0.7% after reporting Q2 revenue that missed expectations, guiding Q3 EPS below consensus... SIGA Technologies, down 31% after ruling in suit with PharmAthene... 2U (TWOU), down 4.3% after downgraded at Goldman.
08:37 EDTDRIDarden initiates accelerated stock buyback program
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08:35 EDTDRIDarden backs FY adjusted EPS $2.22-$2.30, consensus $2.25
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07:45 EDTSNYMannKind partnership likely to be viewed favorably, says Piper Jaffray
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07:20 EDTMACKMerrimack initiates HERMIONE trial of MM-302
Merrimack Pharmaceuticals announced the initiation of a global, open-label, randomized Phase 2 trial of MM-302, a HER2-targeted nanoliposomal encapsulation of doxorubicin, in combination with trastuzumab in patients with HER2-positive locally advanced or metastatic breast cancer. The trial was designed with input from the FDA to support a potential accelerated approval application.
07:19 EDTMACKMerrimack sees existing unrestricted cash to fund operations into FY15
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07:15 EDTMACKMerrimack reports Q2 EPS (17c), consensus (30c)
07:07 EDTSNYIgnyta names Adrian Senderowicz as Chief Medical Officer
Ignyta (RXDX) announced that Adrian Senderowicz, M.D., has been appointed as Chief Medical Officer and SVP, Clinical Development and Regulatory Affairs. Senderowicz was most recently Vice President, Global Regulatory Oncology at Sanofi (SNY).
06:31 EDTSNYMannKind to host conference call
Conference call to discuss the collaboration with Sanofi about global licensing agreement for development and commercialization of Afrezza will be held on August 11 at 8:30 am. Webcast Link
05:13 EDTSNYSanofi, MannKind announce global licensing agreement for Afrezza
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August 9, 2014
16:26 EDTORCLOracle sues Oregon over dispute with state's health-insurance exchange, WSJ says
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August 8, 2014
10:36 EDTSHPG, FDOOptions with increasing implied volatility
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09:01 EDTKMXCarMax appoints Jim Lynski as Chief Marketing Officer
CarMax (KMX) announced the appointment of Jim Lyski as chief marketing officer and SVP. Lyski will begin employment at CarMax immediately. Lyski served as chief marketing officer of The Scotts Miracle-Gro Company (SMG) from 2011 to 2014.
07:48 EDTABBVCredit Suisse remains a buyer of AbbVie
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