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Stock Market & Financial Investment News

News Breaks
July 8, 2014
12:48 EDTKPTI, IPCI, TWTR, FB, TSLA, NFLX, TXMD, GES, ABBV, SHPGOn The Fly: Midday Wrap
Stocks on Wall Street were lower for a second straight session at midday, with a number of tech "momentum stocks" among the hardest hit names. Slides in prominent high-fliers like Netflix (NFLX), Tesla (TSLA), Facebook (FB) and Twitter (TWTR) weighed on the Nasdaq, pushing the tech-heavy index to a nearly 2% decline near noon. The Dow and S&P were lower as well as the slide has been broad-based, with investors express showing caution ahead of the start of the earnings season. ECONOMIC EVENTS: In the U.S., the Job Openings and Labor Turnover Survey, or JOLTs report, showed a 171K increase in job openings to 4.635M, marking a fourth straight monthly gain. A report on consumer credit growth in May is due out at 3:00 pm ET. COMPANY NEWS: AbbVie (ABBV) made a fourth offer to buy Shire (SHPG), raising the price of its bid by 11% to over $51B in cash and stock. For its part, Shire responded by saying that AbbVie did not make the revised proposal to Shire before the announcement and that its board will meet to consider the revised offer. Near noon, Shire shares trading in New York fell 2.7%, while AbbVie slipped 3.2%. MAJOR MOVERS: Among the notable gainers was TherapeuticsMD (TXMD), which jumped 14% to trade near $4.72 after FBR Capital initiated the stock with an Outperform rating and $34 price target. Also higher was apparel designer and retailer Guess (GES), which climbed 5% after research firm Piper Jaffray upgraded the stock to Overweight from Neutral in a note to investors earlier today. Among the noteworthy losers was Karyopharm (KPTI), which slipped 11% after Oppenheimer assumed coverage of its stock with a Perform rating, down from its prior rating of Outperform. Also lower following its quarterly report was Intellipharmaceutics (IPCI), which fell 11% after reporting a net loss for its second fiscal quarter. INDEXES: Near midday, the Dow was down 140.51, or 0.83%, to 16,883.70, the Nasdaq was down 71.67, or 1.61%, to 4,379.86, and the S&P 500 was down 16.85, or 0.85%, to 1,960.80.
News For SHPG;ABBV;GES;TXMD;NFLX;TSLA;FB;TWTR;IPCI;KPTI From The Last 14 Days
Check below for free stories on SHPG;ABBV;GES;TXMD;NFLX;TSLA;FB;TWTR;IPCI;KPTI the last two weeks.
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July 18, 2014
06:23 EDTSHPGShire raises FY14 EPS to low-to-mid 30% growth from mid-to-high teens
Raises FY14 product sales guidance to growth in high teens from mid-to-high teens. Shire continues to expect royalties and other revenues to be 10%-15% lower than 2013.
06:19 EDTSHPGShire reports Q2 EPS $2.67, consensus $2.45
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05:57 EDTNFLXLevel 3 says Verizon 'deliberately' causing Netflix congestion
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05:17 EDTABBV, SHPGAbbVie, Shire agree on merger worth GBP32B pounds
The boards of AbbVie (ABBV) and Shire (SHPG) announced that they have reached agreement on the terms of a recommended combination of Shire with AbbVie. Under the terms of the Merger, Shire shareholders will be entitled to receive per share GBP 24.44 in cash and 0.8960 new AbbVie shares. Immediately following the transaction, Shire shareholders are expected to hold new AbbVie Shares representing approximately 25% of the issued share capital of new AbbVie. AbbVie expects the transaction to be accretive to adjusted earnings per share in the first year following completion, growing to above $1.00 per share by 2020, with "material ongoing financial and operating benefits." The AbbVie board also expects the transaction to reduce New AbbVie's effective tax rate to approximately 13% by 2016. The Shire board said it "considers the terms of the Transaction to be fair and reasonable." In order to undertake the transaction, AbbVie has formed a new company, New AbbVie, which is incorporated in Jersey, Shire's current place of incorporation. Following completion of the Transaction, New AbbVie will become the holding company of the Shire Group and the AbbVie Group. It is intended that the New AbbVie Shares will be listed on the New York Stock Exchange.
05:12 EDTABBV, SHPGAbbVie to acquire Shire for 52.48 pounds per share in cash, stock
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July 17, 2014
17:01 EDTTWTRTwitter acquires CardSpring
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16:01 EDTFB, TSLA, TWTROptions Update; July 17, 2014
iPath S&P 500 VIX Short-Term Futures up 2.66 to 29.93. Option volume leaders: AAPL FB GOOG APA MSFT PBR SUNE AMZN TWTR TSLA according to Track Data.
14:28 EDTFBFacebook testing new 'Buy Button' feature to facilitate purchases
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13:34 EDTSHPGShire reports results from Vyvanse vs. Concerta studies in adolescents with ADHD
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12:56 EDTABBV, SHPGAbbVie set to announce GBP 31B deal to buy Shire, FT says
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12:54 EDTSHPG, ABBVAbbVie set to announce GBP 31B deal to buy Shire, FT says
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11:12 EDTSHPGOptions with decreasing implied volatility
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10:14 EDTFBFacebook view changed to Positive from Neutral at OTR Global (pre-open)
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09:40 EDTTSLA, TWTR, FBActive equity options trading on open
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09:31 EDTNFLXNetflix, Disney announce multi-year pay TV window agreement in Canada
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08:28 EDTTWTRTwitter may see 'paltry' MAU growth in Q2, Business Insider says
Twitter's monthly active users would have declined during Q2 if not for a boost from the World Cup, two sources told Business Insider, with one of those sources claiming Twitter will have 260M MAUs for the quarter, up only 2% from the 255M MAUs it reported in Q1. "It is not possible to say definitively from the data provided by Business Insider's two sources that Twitter's MAUs are in trouble," the report cautioned, noting that the data relied on comes from third-party developers and that the MAUs communicated were taken during non-standard time periods that don't sync with Twitter's calendar quarters. Reference Link
07:31 EDTNFLXNetflix Q2 results likely to beat expectations, says MKM Partners
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07:20 EDTNFLXNetflix July weekly volatility elevated into Q2 and outlook
Netflix July weekly call option implied volatility is at 77, August is at 49, September is at 40; compared to its 26-week average of 44 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on July 21.
06:50 EDTFBAirbus considering partnering with high tech companies, NY Times says
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05:53 EDTABBVStocks with implied volatility movement; HLF ABBV
Stocks with implied volatility movement; Herbalife (HLF) 52, AbbVie (ABBV) 30 according to iVolatility.
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