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Stock Market & Financial Investment News

News Breaks
June 24, 2014
07:00 EDTGSK, ABT, PFEIndia foreseen to broaden price caps to more drugs, Reuters says
The Indian government is most likely to increase the number of medicines considered essential and subject to price caps, according to Reuters, citing people directly involved in the process. Having more drugs subject to price caps will spark interest from world-wide pharmaceutical companies such as Pfizer (PFE), GlaxoSmithKline (GSK) and Abbott Laboratories (ABT), who all have a large presence in India's $15B pharmaceutical market. Reference Link
News For PFE;GSK;ABT From The Last 14 Days
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February 1, 2016
06:58 EDTPFEPortola Pharma licensed right to andexanet alfa to Bristol-Myers and Pfizer
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06:57 EDTPFEBristol-Myers and Pfizer sign collaboration with Portola Pharmaceuticals
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January 29, 2016
14:44 EDTPFEPfizer volatility elevated into Q4 and outlook
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10:27 EDTABTActive calls: IWM F DXJ ABT FXI AAPL EEM COP
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10:05 EDTABTOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abbott (ABT) downgraded to Market Perform from Outperform at William Blair... Chuy's (CHUY) downgraded to Market Perform from Outperform at Raymond James... Cypress Semiconductor (CY) downgraded to Neutral from Buy at Sterne Agee CRT... Darden (DRI) downgraded to Underperform from Market Perform at Raymond James... Dominion (D) downgraded to Neutral from Buy at UBS... Ensco (ESV) downgraded to Neutral from Buy at Citi... First Financial (FFIN) downgraded to Sell from Hold at Sandler O'Neill... Global Partners (GLP) downgraded to Neutral from Overweight at Mitsubishi UFJ... Investors Bancorp (ISBC) downgraded to Sell from Neutral at Compass Point... NetScout (NTCT) downgraded to Hold from Buy at Needham... Precision Castparts (PCP) downgraded to Sell from Buy at Gabelli... Spirit AeroSystems (SPR) downgraded to Sell from Neutral at Goldman... Synaptics (SYNA) downgraded to Buy from Strong Buy at Needham... Terex (TEX) downgraded to Market Perform from Outperform at Avondale... UniCredit (UNCFF) downgraded to Hold from Buy at Berenberg... United Rentals (URI) downgraded to Neutral from Positive at Susquehanna... Xcel Energy (XEL) downgraded to Neutral from Outperform at Macquarie.
06:37 EDTABTAbbott downgraded to Market Perform from Outperform at William Blair
William Blair analyst Margaret Kaczor downgraded Abbott Laboratories to Market Perform citing a more bearish outlook on the potential for near-term transformative or accretive transactions due to management's comments on the earnings call. The analyst also sees risk of further downside to the company's emerging market businesses.
05:39 EDTPFEPfizer: LIS awards infliximab biosimilar tender to Inflectra, Reuters reports
Pfizer says that the Norwegian Drug Procurement Cooperation has awarded its product Inflectra an infliximab biosimilar tender, Reuters reports. Reference Link
January 28, 2016
12:20 EDTABTOn The Fly: Top stock stories at midday
Stocks on Wall Street have moved all over the place in a wild morning of trading. The averages opened sharply higher as oil prices rose above $34 a barrel. The Dow opened with triple digit gains but following reports from Iraq that it would increase oil production, and refutations of rumors that OPEC might cut production, the commodity began to weaken, taking equities with it. The averages turned negative and it looked like another rout might be in the making. Before the market fell too far, it gathered itself and moved back into positive ground and the major averages are now in the green, but not far from where they ended yesterday's session. ECONOMIC EVENTS: In the U.S., initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The National Association of Realtors' pending home sales index for December rose 0.1%, versus expectations for it to be up 0.9%. COMPANY NEWS: Shares of Facebook (FB) surged 14.5% after the social media giant's fourth quarter earnings and revenue beat expectations. Wall Street analysts were nearly unanimous in their praise following the report, with a number increasing their price targets for its shares... Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded about 2% this morning after the company jumped over its lowered profit hurdle... Shares of eBay (EBAY) and PayPal (PYPL) diverged after the recently-split companies reported their respective fourth quarter results and gave guidance, with eBay falling 13% and PayPal rising 7% near midday... The Dow Jones US Healthcare ETF (IYH) fell over 2% at midday after a number of big-names in the space gave disappointing guidance. Celgene (CELG) fell 5% following its Q4 report and fiscal year outlook, while Abbott (ABT) dropped 8% in the wake of its own results and guidance. MAJOR MOVERS: Among the notable gainers was Kinder Morgan (KMI), which rallied 8.5% after it was upgraded at Credit Suisse and Stifel. Also higher were Under Armour (UA), Dolby (DLB) and Deluxe (DLX), which gained 18%, 11% and 9%, respectively, after reporting quarterly earnings. Among the noteworthy losers was OSI Systems (OSIS), which fell 35% and was downgraded to Hold at BB&T following downbeat quarterly earnings. Also lower were Qualcomm (QCOM) and Discover (DFS), which each dropped about 7% after their quarterly earnings reports. INDEXES: Near midday, the Dow was up 1.37, or 0.01%, to 15,945.83, the Nasdaq was up 21.12, or 0.47%, to 4,489.28, and the S&P 500 was up 3.36, or 0.18%, to 1,886.31.
11:33 EDTABTOptions with increasing call volume
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10:47 EDTABTAbbott weakness a buying opportunity, says Deutsche Bank
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09:38 EDTABTAbbott says 'definitely not inactive' on M&A
09:38 EDTABTAbbott: Would look at deal 'if it was the right opportunity at the right place'
Says capital allocation priorities have not changed. Regarding M&A, says has been looking at properties "largely internationally." Says has made good deals in the past. Says "We don't see a lot that people are offering up for sale," says prices for things up for sale "imprudent." Says would look at a deal if "it was the right opportunity at the right place." Says "everybody's in the same environment." Says "probably more focused" on M&A.
09:26 EDTABTAbbott sees global diagnostics sales up mid single digits for Q1, FY16
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09:19 EDTABTOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Facebook (FB), up 13.9%... Under Armour (UA), up 14.6%... MicroStrategy (MSTR), up 8.9%... Harley-Davidson (HOG), up 8%... Paypal (PYPL), up 6%... Mellanox (MLNX), up 7.9%... Cirrus Logic (CRUS), up 6.2%... Alibaba (BABA), up 4.5%. ALSO HIGHER: Neos Therapeutics (NEOS), up 61.4% after the FDA approved Adzenys XR-ODT for the treatment of ADHD... Exelixis (EXEL), up 4.7% after the U.S. FDA determined the company's New Drug Application for cabozantinib is sufficiently complete... Kinder Morgan (KMI), up 6.7% after being upgraded at Credit Suisse and Stifel. DOWN AFTER EARNINGS: OSI Systems (OSIS), down 21.3%... ServiceNow (NOW), down 22.3%... eBay (EBAY), down 11.5%... InvenSense (INVN), down 10.5%... Juniper Networks (JNPR), down 9.3%... Hologic (HOLX), down 4.4%... Abbott Laboratories (ABT), down 3.6%... Potash (POT), down 2.1%... Qualcomm (QCOM), down 3.6%.
09:19 EDTABTAbbott expects EPS to progressively accelerate throughout 2016
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07:35 EDTABTAbbott sees Q1 EPS ex-items 38c-40c, consensus 47c
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07:34 EDTABTAbbott sees FY16 EPS ex-items $2.10-$2.20, consensus $2.26
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07:33 EDTABTAbbott reports Q4 adjusted EPS 62c, consensus 61c
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January 27, 2016
15:12 EDTABTAbbott volatility elevated into Q4 and outlook
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14:34 EDTABTNotable companies reporting before tomorrow's open
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