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Stock Market & Financial Investment News

News Breaks
July 23, 2014
09:17 EDTDOW, TLM, WHR, BRCM, BIIB, KING, REPYY, ISRG, GSK, XLNX, PBYI, PEP, MCD, JNPR, ALTR, BAOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Intuitive Surgical (ISRG), up 12.8%... Biogen (BIIB), up 8%... Broadcom (BRCM), up 3.6%... PepsiCo (PEP), up 1.8%... Dow Chemical (DOW), up 1.5%. ALSO HIGHER: Puma Biotechnology (PBYI), up 275% after reporting positive top line results from Phase III PB272 trial, price target on stock raised to $325 from $125 at UBS, Citigroup says company a likely acquisition target after data... Talisman Energy (TLM), up 9.6% after Bloomberg reports Repsol (REPYY) may be looking to acquire. DOWN AFTER EARNINGS: Whirlpool (WHR), down 4.4%... Juniper Networks (JNPR), down 7.9%... GlaxoSmithKline (GSK), down 5.8%... Boeing (BA), down 0.8%. ALSO LOWER: Xilinx (XLNX), down 14.2% after results, downgrades at William Blair, BofA/Merrill and BMO Capital. Shares of peer Altera (ALTR) are also down 4.6%... King Digital (KING), down 2.7% after downgraded at BofA/Merrill... McDonald's (MCD), down 0.9% following downgrades at multiple firms after its earnings report yesterday.
News For PBYI;BA;MCD;XLNX;ALTR;PEP;GSK;JNPR;WHR;ISRG;BIIB;TLM;REPYY;BRCM;DOW;KING From The Last 14 Days
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July 17, 2015
08:02 EDTDOWDow, Olin receive IRS letter ruling for proposed Chlor-Alkali, Derivatives deal
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06:59 EDTISRGIntuitive Surgical Q2 expectations look reasonable, says Leerink
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July 16, 2015
19:32 EDTMCDMcDonald's franchisees indicate lowest 6-month outlook in 12 years, WSJ says
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12:29 EDTBAEarnings Watch: Bernstein positive on GE ahead of Q2 report
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11:41 EDTXLNXTSMC slips after reporting Q2 results, cautious outlook
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11:03 EDTBABoeing reports 50 new orders since last update
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10:18 EDTKINGOptions with increasing implied volatility
Options with increasing implied volatility: SRPT ENR FOSL KING
10:00 EDTMCDOn The Fly: Analyst Initiation Summary
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08:03 EDTGSKGlaxoSmithKline expects to ship 32M-38M flu vaccines over 2015-16 season
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06:52 EDTISRGIntuitive Surgical July weekly volatility elevated into Q2 and outlook
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July 15, 2015
16:44 EDTBAOrbital ATK supports succesful launch of U.S. Air Force GPS satelliate
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16:20 EDTMCDMcDonald's initiated with a Neutral at BTIG
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13:57 EDTBAFAA says some Boeing 747 planes at risk of 'divergent flutter'
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10:33 EDTKINGOptions with increasing implied volatility: KING FOSL
10:01 EDTWHRKansas City Southern names Brian Hancock as EVP, CMO
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09:07 EDTMCDMcDonald's turnaround to take years, Peltz says on CNBC
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09:06 EDTMCDPeltz says if didn't own Wendy's, McDonald's may be investment
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08:03 EDTJNPRJuniper names Bob Worrall as SVP, Chief Information Officer
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07:58 EDTBIIBAnalysts break down impact of $7.2B Receptos buyout
After Celgene (CELG) announced last night that the company has agreed to acquire Receptos (RCPT) for $232 per share in cash, or a total of about $7.2B net of cash acquired, research firms have chimed in with their opinions on how the proposed deal may impact others in the biotech space. Receptos key asset is Ozanimod, which is being studied in Phase III trials for relapsing multiple sclerosis and ulcerative colitis. DERIVATIVE CALLS: Piper Jaffray analyst Edward Tenthoff told investors that he views Celgene's deal for Receptos as good for Arena Pharmaceuticals (ARNA). The analyst notes that Arena's APD334 is already showing dose-dependent decreases in circulating lymphocyte counts and that the company will initiate Phase II studies in ulcerative colitis and Crohn's disease this year. Tenthoff reiterates an Overweight rating and $7.50 price target on Arena, which has a market capitalization around $1B and closed yesterday up 8c to $4.47. In its own note to investors this morning, Nomura said Celgene's deal could put downward pressure on Biogen's (BIIB) long-term multiple sclerosis estimates. Nomura's M. Ian Somaiya contended that one-year Phase II efficacy data for Ozanimod looked as good as Novartis’s (NVS) Gilenya and Biogen's Tecfidera’s Phase III at year 2. Somaiya also wondered if rival Gilead (GILD) could be "looking for something bigger" than Receptos for its own deal, telling investors that the firm views Incyte (INCY) as Gilead's most likely takeout target. Incyte's shares closed up $4.46 at $117.46 yesterday, giving the company a market cap of about $20B. RIVAL BID?: Wedbush analyst Liana Moussatos believes another bidder may seek to acquire Receptos, noting that she previously estimated Receptos could be valued at $348 per share, or about $10.9B, in a buyout. Moussatos noted that Celgene said it expects annual peak sales for Ozanimod to reach about $4B-$6B for RMS and UC, making its acquisition price of $7.2BN only a bit more than about 1X peak sales without accounting for other possible indications or the rest of its pipeline. Moussatos told investors she sees "plenty" of potential upside to justify a rival bidder stepping in and reiterated the firm's Outperform rating on Receptos shares. PRICE ACTION: In pre-market trading, Receptos rose 10% to $228.61 while Gilead gained 1.4% to about $119 per share.
05:57 EDTGSKGlaxoSmithKline, Francis Crick Institute to collaborate on range of new drugs
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