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Stock Market & Financial Investment News

News Breaks
June 20, 2014
16:20 EDTORCL, NGLS, ABBV, TRGP, DRI, SHPG, ETE, FLMLOn The Fly: Closing Wrap
Stocks on Wall Street had a quiet open and remained that way throughout the session. The averages moved in a narrow range but drifted mostly in positive territory, allowing the Dow and S&P 500 to close the week at all-time highs. The Nasdaq also notched a gain, despite being weighed on by shares of Oracle (ORCL), which slid after reporting earnings below Wall Street estimates. ECONOMIC EVENTS: In the U.S., no major economic data was reported. COMPANY NEWS: Shares of enterprise software provider Oracle sunk $1.69, or 3.98%, to $40.82 after the company’s fourth quarter results trailed analysts’ consensus estimates. Citigroup downgraded Oracle to Neutral from Buy citing weak license growth and "relatively aggressive" Q1 targets following the company's Q4 results... Shire (SHPG) shares trading in New York rose $31.18, or 16.26%, to $222.89 after the company confirmed it rejected a takeover offer from AbbVie (ABBV). Abbvie, which has tried unsuccessfully three times to strike a deal to buy the Ireland-based drugmaker, is considering raising its offer for Shire a fourth time, according to Bloomberg, citing two people with knowledge of the matter. MAJOR MOVERS: Among the notable gainers was car retailer CarMax (KMX), which surged $7.47, or 16.5%, to $52.75 after the company reported first quarter results that beat expectations. Also higher were shares of Flamel Technologies (FLML), which rose $2.40, or 18.79%, to $15.17 after the FDA changed its drug shortage website and now lists Flamel's Bloxiverz as the "first and only" approved neostigmine. Analysts at Summer Street believe the change could be a "hugely significant" milestone for Flamel and may mean that the FDA could be taking action to remove unapproved neostigmines offered by other companies. Among the noteworthy losers was Targa Resources Partners (NGLS), which fell $11.44, or 14.03%, to $70.11 after announcing last night that its takeover talks with Energy Transfer Equity (ETE) ended without a deal and the stock was downgraded at Wunderlich following the news. Shares of Targa Resources Partners and its parent, Targa Resources (TRGP), had spiked late in yesterday's session after Bloomberg reported that Energy Transfer was near a deal to buy them. Also lower was restaurant operator Darden (DRI), which dropped $1.94, or 3.92%, to $47.58 after stating that same-store sales at its Olive Garden restaurants had declined 3.5% last quarter and reporting earnings that disappointed. INDEXES: The Dow rose 25.62, or 0.15%, to 16,947.08, the Nasdaq advanced 8.71, or 0.2%, to 4,368.04, and the S&P 500 gained 3.39, or 0.17%, to 1,962.87.
News For ORCL;SHPG;ABBV;FLML;DRI;NGLS;ETE;TRGP From The Last 14 Days
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January 15, 2015
09:17 EDTFLMLFlamel Technologies weakness creates buying opportunity, says SunTrust
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08:47 EDTFLMLFlamel Technologies price target lowered to $17 from $22 at Roth Capital
Roth Capital cut its price target on Flamel (FLML) after the FDA approved Fresenius Kabi's (FMS) New Drug Application for neostigmine methylsulfate, a drug which Flamel currently markets as Bloxiverz. Roth expects eostigmine to become a two player market, but adds that price increases by Flamel could mitigate the negative impacts on Flamel's growth. The firm keeps a Buy rating on Flamel.
08:43 EDTFLMLFlamel Technologies pullback an overreaction, says Summer Street
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07:36 EDTFLMLFlamel Technologies sell-off yesterday overdone, says Leerink
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06:04 EDTORCLStocks with implied volatility below IV index mean; ORCL ARNA
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January 14, 2015
16:33 EDTFLMLOn The Fly: Closing Wrap
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14:10 EDTFLMLFlamel Technologies weakness a buying opportunity, says SunTrust
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13:17 EDTFLMLFlamel says evaluating options after Kabi's NDA approval
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12:49 EDTFLMLOn The Fly: Midday Wrap
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12:25 EDTABBVAbbVie says pipeline is 'most robust it's ever been'
12:09 EDTABBVAbbVie says 'strongly' committed to dividend, returning cash to shareholders
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12:09 EDTFLMLFlamel Technologies plunges after Jazz gets favorable patent ruling
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12:00 EDTABBVAbbVie says guidance to be further refined as HCV launch progresses
11:59 EDTABBVAbbVie repeats FY15 adjusted EPS view $4.25-$4.45, consensus $4.30
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11:51 EDTNGLSTarga Resources Partners upgraded to Accumulate from Hold at Tudor Pickering
11:50 EDTTRGPTarga Resources downgraded to Hold from Buy at Tudor Pickering
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06:03 EDTORCLStocks with implied volatility below IV index mean; ORCL ARNA
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January 13, 2015
17:37 EDTSHPGShire targets $10B in organic product sales by 2020
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12:15 EDTABBVExpress Scripts CEO says Gilead relationship 'important' going forward
Express Scripts (ESRX) CEO George Paz at the J.P. Morgan Healthcare Conference said his company's relationship with Gilead (GILD) is "important" going forward. Paz said his company's goal is not to exclude drugs. He continues to discuss Express Scripts's deal with AbbVie (ABBV) and the company's goal of saving clients money with regards to healthcare costs.
06:25 EDTORCLOracle settles legal dispute with Alibaba Health, WSJ reports
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