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Stock Market & Financial Investment News

News Breaks
February 12, 2014
04:55 EDTPRGO, PRGO, QSII, QSII, PKI, PKI, AMAG, AMAG, AMBI, AMBI, LLY, LLY, WAT, WAT, CSII, CSII, BLUE, BLUELeerink to hold a conference
2014 Global Healthcare Conference is being held in New York on February 12-13.
News For PRGO;QSII;PKI;AMAG;AMBI;LLY;WAT;CSII;BLUE From The Last 14 Days
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August 28, 2015
16:17 EDTPRGOOn The Fly: Top stock stories for Friday
Stocks slipped at the open as the futures once again were influenced by the volatile overnight trading session in China. The averages began to recover shortly after the open and turned mixed by midday. Comments from Fed Vice Chairman Stanley Fisher about the central bank being open to a possible rate hike in September took some momentum out of the market. As the volume slowed and the news flow went silent, the volatility increased and the averages headed lower only to rebound before the close, but the trading was still remarkably calm when compared to the wide swings seen in the market in the earlier sessions of this week. ECONOMIC EVENTS: In the U.S., personal income rose 0.4% in July, as expected, with consumer spending up 0.3%, which was below the 0.4% consensus growth forecast. The University of Michigan consumer sentiment reading for August was revised down to 91.9 from the 92.9 preliminary reading, versus expectations for it to be bumped up to 93.0. Baker Hughes reported the U.S. rig count is down 8 rigs from last week to 877. WTI crude oil prices added another 6% today to yesterday's 10% rally, closing at $45.22 a barrel on Friday. U.S. crude closed with a weekly gain of 11.8%, marking its first advance in 10 weeks and best week in six years. The Federal Reserve may still raise its benchmark interest rate in September, Fed vice chairman Stanley Fischer said in an interview with CNBC, noting that Fed committee members "haven't made a decision yet" and have "time to wait and see," because the next policy-making meeting won't happen until the middle of next month. COMPANY NEWS: Shares of cancer drug maker ARIAD (ARIA) surged $2.91, or 41.69%, to $9.89 after Bloomberg reported that industry peer Baxalta (BXLT) is in takeover talks with the smaller company to boost its oncology pipeline. Baxalta, which had recently turned down a merger offer from Shire (SHPG), fell $1.18, or 3.24%, to $35.25 following the report... In other pharmaceutical industry M&A news, Mylan (MYL) shareholders voted to approve the company's proposed acquisition of Perrigo (PRGO) and the related issuance of Mylan ordinary shares. Afterward, Perrigo CEO Joseph Papa said he was confident that most of his company's shareholders believe that Mylan's offer substantially undervalues Perrigo and would dilute its "growth profile and superior valuation"... Video game maker Activision Blizzard (ATVI) and airline owner United Continental (UAL) both advanced sharply, rising 4.62% and 6.93%, respectively, after each had their shares selected to join the S&P 500. Activision will replace Pall Corp. (PLL) in the S&P 500 after the close of trading tonight, while United will replace Hospira (HSP) in the index after the close of trading on Wednesday, September 2. MAJOR MOVERS: Among the notable gainers was Big Lots (BIG), which advanced $6.58, or 15.67%, to $48.58 after the discount retailer reported better than expected quarterly results and lifted its fiscal year guidance. Among the noteworthy losers after their quarterly reports were video game retailer GameStop (GME), which slid $3.71, or 8.03%, to $42.49, and design software and services company Autodesk (ADSK), which fell $2.48, or 4.96%, to $47.52. INDEXES: The Dow fell 11.76, or 0.07%, to 16,643.01, the Nasdaq gained 15.62, or 0.32%, to 4,828.33, and the S&P 500 advanced 1.21, or 0.06%, to 1,988.87.
09:31 EDTPRGOMylan vote not surprising, Perrigo likely to rise in near-term, says BMO Capital
BMO Capital analyst David Maris believes that Mylan (MYL) shareholders' vote in favor of Mylan's proposed takeover of Perrigo (PRGO) and authorizing the company to issue shares was the outcome expected by most investors and will not come as a surprise to the market. Maris noted that he expects Perrigo shares will rise in the coming days amid speculation on its next move and thinks the Mylan bid significantly undervalues the company, which he estimates is worth $246 per share on a stand-alone basis. The firm keeps an Outperform rating on Perrigo and a Market Perform rating on Mylan.
08:06 EDTPRGOPerrigo 'confident' shareholders will reject Mylan 's offer
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07:22 EDTPRGOMylan shareholders approve proposed acquisition of Perrigo
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August 27, 2015
10:32 EDTLLYFDA approvals Synjardy tablets for adults with Type 2 diabetes
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10:00 EDTWAT, PKIOn The Fly: Analyst Initiation Summary
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05:20 EDTLLYEli Lilly, Adocia initiate new Phase 1b study of BioChaperone Lispro
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August 26, 2015
16:21 EDTWATWaters initiated with a Buy at Cantor
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16:20 EDTPKIPerkinElmer initiated with a Buy at Cantor
Target $62.
06:55 EDTPRGOMylan shares may sell off on affirmative Perrigo deal vote, says BMO Capital
With Mylan (MYL) set to hold a shareholder vote on August 28 regarding its proposed acquisition of Perrigo (PRGO), BMO Capital analyst David Maris predicts that if the vote goes in Mylan's favor, he expects Perrigo shares to rise and Mylan shares to fall. Afterward, he feels added overhangs, such as Teva's (TEVA) and Abbott's (ABT) shareholdings and potential short-term selling by arbitrageurs, will come into play, further pressuring Mylan shares.
05:58 EDTPRGOPerrigo CEO says company is 'very active in M&A,' Bloomberg reports
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August 25, 2015
17:11 EDTLLYU.S. District Court rules in Eli Lilly's favor on Alimta vitamin regimen patent
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13:22 EDTPRGOMylan comments on 'misleading' Perrigo statements
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11:27 EDTPRGOTeva to refrain from voting at Mylan special meeting
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August 21, 2015
15:22 EDTPRGOMylan clarifies certain inaccuracies related to lowered condition to acquire Perrigo
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08:19 EDTPRGOMylan to host special shareholder meeting
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August 20, 2015
13:26 EDTLLYOn The Fly: Top stock stories at midday
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11:33 EDTLLYLeerink major pharmaceuticals analyst holds an analyst/industry conference call
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08:34 EDTBLUEJPMorgan views bluebird bio selloff as 'highly compelling opportunity'
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07:37 EDTLLYEli Lilly's Jardiance for diabetes meets primary endpoint in clinical trial
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