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Stock Market & Financial Investment News

News Breaks
July 8, 2014
09:15 EDTANR, WLT, NURO, ABBV, IPCI, CGI, TFM, SHPG, MIC, TXMD, GRPNOn The Fly: Pre-market Movers
HIGHER: Shire (SHPG), up 1% after AbbVie (ABBV) raises buyout offer for fourth time, to GBP 22.44 in cash and 0.8568 AbbVie shares per Shire share. AbbVie shares down about 1% in pre-market trading following the news... Groupon (GRPN), up 5.7% after upgraded at B. Riley... TherapeuticsMD (TXMD), up 21.8% after FBR Capital initiated the stock with an Outperform rating and $34 price target... NeuroMetrix (NURO), up 45% after wearable technology for treatment of chronic pain cleared by FDA... Celadon Group (CGI), up 7% after upgraded at Stifel... Macquarie Infrastructure (MIC), up 6.3% after acquiring remainder of IMTT for $1.025B in cash, stock. LOWER: Intellipharmaceutics (IPCI), down 10% after Q2 earnings lower than expected... The Fresh Market (TFM), down 6.6% after downgraded at Goldman... Walter Energy (WLT), down 4%, Alpha Natural (ANR), down 1%, after coal sector estimates lowered at Morgan Stanley.
News For SHPG;ABBV;GRPN;TFM;NURO;TXMD;CGI;WLT;MIC;IPCI;ANR From The Last 14 Days
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May 21, 2015
16:16 EDTTFMThe Fresh Market sees FY15 adjusted EPS $1.85-$1.93, consensus $1.87
Sees total net sales growth for the 53-week fiscal 2015 of approximately 9.0%-11.0% compared to the 52-week fiscal 2014 total net sales. FY15 consensus $1.98B. Fiscal 2014 included the benefit of sales from the company’s three California stores prior to their closing. Sees FY15 comparable store sales growth of 1.0%-3.0%; An effective tax rate of 37.3% to 37.6%; CapEx $100M-$110M; Unit growth of approximately 19 new stores, with two new stores opening in the first quarter; five to six new stores opening in the second quarter; and 11 to 12 new stores opening in the second half of the year. Remodeling or refreshing 10 stores, with the majority completed in the first half of the year.
16:13 EDTTFMThe Fresh Market reports Q1 adjusted EPS 50c, consensus 49c
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15:01 EDTTFMNotable companies reporting after market close
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11:47 EDTIPCIIntellipharmaceutics path for Rexista significantly shorter, says Brean Capital
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08:14 EDTIPCIIntellipharmaceutics intends to accelerate Rexista Oxycodone XR program
Intellipharmaceutics announced that the FDA provided the company with notification regarding its Investigational New Drug Application, or IND, submission for Rexista Oxycodone XR extended release tablets. The notification from the FDA stated that the Company will not be required to conduct Phase III studies if bioequivalence to Oxycontin is demonstrated. The company had earlier announced, on March 30, that it had submitted an IND to the FDA for Rexista Oxycodone XR in anticipation of the commencement of Phase III clinical trials. At the same time the Company had also announced that topline data results of three definitive Phase I pharmacokinetic clinical trials all met the bioequivalence criteria when compared to the existing branded drug Oxycontin. The company believes, in light of these prior results, that it will not be required to conduct Phase III studies, although no assurance to that effect can be given. The company believes the FDA notification is significant as it provides a basis for an accelerated development plan for its Rexista Oxycodone XR product candidate, without the need for more costly and time-consuming Phase III studies. The company intends to file a New Drug Application, or NDA, for Rexista Oxycodone XR extended release tablets with the FDA within the next 6 to 12 months, although no assurance to this effect can be given. Further, there can be no assurance that the FDA will ultimately approve the NDA for sale of Rexista Oxycodone XR in the U.S. market, or that it will ever be successfully commercialized.
08:04 EDTABBVAbbVie announces offer consideration for acquisition of Pharmacyclics
AbbVie (ABBV) announced the per share offer consideration amounts pursuant to its previously announced offer to acquire each outstanding share of common stock of Pharmacyclics (PCYC) for a mix of cash and AbbVie common stock, as described in the Registration Statement on Form S-4 filed with the SEC by AbbVie on March 23, 2015, as amended. The mixed consideration will consist of $152.25 in cash and 1.6639 shares of AbbVie common stock and, subject to proration, the all-stock consideration will consist of 3.9879 shares of AbbVie common stock.
07:58 EDTABBVDeutsche sees AbbVie shares getting to $80 over summer
Deutsche Bank sees pipeline readouts over the summer pushing shares of AbbVie to $80. The firm keeps a Buy rating on the stock with an $80 price target after meting with management.
07:37 EDTABBV, SHPGPfizer replaces AbbVie as top global pharma pick at Jefferies
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07:08 EDTMICMacquarie Infrastructure completes conversion from LLC to corporation
Macquarie Infrastructure announced that it has successfully completed a planned conversion to a Delaware corporation from a Delaware limited liability company. The conversion was effective at 12:01am on May 21. The conversion had no impact on the business or management of the company and has been treated as a tax-free exchange under relevant Internal Revenue Service regulations.
May 20, 2015
13:07 EDTANRAlpha Natural downgraded to Underperform from In-Line at Imperial Capital
Imperial Capital downgraded Alpha Natural to Underperform and reduced its price target to 40c from $1.50. The firm said Alpha can no longer access $750M in first lien basket now that the latest 12 month 1L secured leverage is greater than 2X and downgraded shares due to the significant deterioration in outlook.
09:07 EDTABBVJohnson & Johnson says exploring eight new indications for Imbruvica
Imbruvica is jointly developed and commercialized by Pharmacyclics (PCYC) and Johnson & Johnson (JNJ) subsidiary Janssen Biotech. AbbVie (ABBV) is in the process of acquiring Pharmacyclics.
07:21 EDTABBVUBS to hold a conference
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May 19, 2015
08:57 EDTABBVLeerink biotech analyst holds an analyst/industry conference call
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May 15, 2015
16:46 EDTABBVAbbVie extends exchange offer to acquire Pharmacyclics
AbbVie (ABBV) announced that it has extended the expiration of its exchange offer to acquire all of the outstanding shares of common stock of Pharmacyclics (PCYC) to 5 p.m., New York City time, on May 22. The depositary of the exchange offer has advised that, as of 4:00 p.m., New York City time, on May 15, a total of approximately 42,822,941 shares of Pharmacyclics common stock were validly tendered and not properly withdrawn in the exchange offer. All other terms and conditions of the exchange offer remain unchanged.
11:08 EDTSHPGOmega Advisors gives quarterly update on stakes
NEW STAKES: Targa Resources (TRGP), Targa Resources Partners (NGLS), Humana (HUM), Dow Chemical (DOW), and Twenty-First Century Fox (FOXA). INCREASED STAKES: Kinder Morgan (KMI), Chimera Investment Corporation (CIM), AerCap Holdings (AER), Shire (SHPG), and KKR & Co. (KKR). DECREASED STAKES: eBay (EBAY), Altisource Portfolio Solutions (ASPS), Caesars Entertainment (CZR), Navient (NAVI), and TerraForm Power (TERP). LIQUIDATED STAKES: HCA Holdings (HCA), Gilead (GILD), Cabot Oil & Gas (COG), and Apple (AAPL).
10:29 EDTABBVAmerican Urological Association to hold an annual meeting
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09:45 EDTABBVAbbVie reports FDA orphan designation for Humira in treatment of HS
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May 14, 2015
13:12 EDTABBVAbbVie granted orphan status for Humira
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10:41 EDTABBVAnalysts upbeat on Amgen's Kyprolis after ASCO abstracts
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09:09 EDTABBVBristol-Myers down 1.3% after release of ASCO abstracts
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