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Stock Market & Financial Investment News

News Breaks
July 8, 2014
09:15 EDTANR, MIC, TXMD, GRPN, WLT, NURO, ABBV, IPCI, CGI, TFM, SHPGOn 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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February 10, 2016
09:19 EDTSHPGOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Akamai (AKAM), up 16.5%... Prospect Capital (PSEC), up 10.7%... Panera Bread (PNRA), up 2%. ALSO HIGHER: Deutsche Bank (DB), up 6.1% after the Financial Times reported that the company is considering a multibillion bond buyback... Fitbit (FIT), up 3.7% after Marc Benioff reported a 5% stake in the company... FireEye (FEYE), up 3.9% after being upgraded to Buy from Neutral at BTIG... Shire (SHPG), up 1.7% after being upgraded to Outperform from Sector Perform at RBC Capital. DOWN AFTER EARNINGS: Time Warner (TWX), down 7.6%... Disney (DIS), down 5.1%... SolarCity (SCTY), down 27.8%. ALSO LOWER: CTI BioPharma (CTIC), down 38% after the FDA placed pacritinib IND on full clinical hold... Mast Therapeutics (MSTX), down 40.1% after 29.1M share Spot Unit offering priced at $0.275.
08:25 EDTSHPGShire upgraded on valuation at RBC Capital
As noted earlier, RBC Capital upgraded Shire to Outperform from Sector Perform. The firm believes that the recent decline in the stock more than accounts for any competitive risks facing the company's Baxalta drug. Target $240.
07:54 EDTANRSupreme Court issues stay of coal emissions regulations, NYT reports
In what was called a "stunning development," the Supreme Court temporarily blocked the Obama administration's proposed regulations for emissions from coal-fired power plants, reported The New York Times. The case is most likely to return to the top court after an appeals court considers an expedited challenge from states, corporations and industry groups opposing the rules, the report noted. Publicly traded companies in the coal space include Alliance Resource Partners (ARLP), Alpha Natural (ANR), Arch Coal (ACI), CONSOL (CNX), Cloud Peak (CLD) and Peabody (BTU). Reference Link
07:19 EDTSHPGShire says David Kappler to step down as deputy chairman
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06:58 EDTABBVAbbVie reports second Elagolix Phase 3 clinical trial met co-primary endpoint
AbbVie (ABBV), in cooperation with Neurocrine Biosciences (NBIX), announced positive top-line results from the second of two replicate pivotal Phase 3 clinical trials evaluating the efficacy and safety of Elagolix in premenopausal women who suffer pain from endometriosis. Trial results show that after six months of continuous treatment, both doses of Elagolix met the study's co-primary endpoints. Elagolix reduced scores of menstrual pain and non-menstrual pelvic pain, or NMPP, associated with endometriosis, at month three and month six, as measured by the Daily Assessment of Endometriosis Pain scale. Responder rates for the co-primary endpoints from this second Phase 3 pivotal study are consistent with results from the first Phase 3 pivotal study.
06:28 EDTSHPGShire upgraded to Outperform from Sector Perform at RBC Capital
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February 9, 2016
16:14 EDTSHPGShire initiated with a Neutral at Guggenheim
09:56 EDTSHPGIntercept higher following report of vague takeover chatter
Shares of Intercept Pharmaceuticals (ICPT) are moving after United Kingdom blog Proactive Investors discussed "reheated rumours" of a takeover. "Vague talk" has Intercept teaming up with CenterView Partners to advise on a sale, the blog states. It mentions AstraZeneca (AZN) as a possible suitor now that Shire (SHPG) has reached an agreement to acquire Baxalta (BXLT). Shares of Intercept, which is developing treatments for chronic liver diseases, are up 4% to $97.39 in early trading.
February 8, 2016
16:06 EDTABBVEnanta sees Q2 royalty revenue at least 3% of AbbVie's reported VIEKIRA sales
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February 7, 2016
14:30 EDTABBVAbbVie's juvenile arthritis treatment receives orphan designation
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14:10 EDTABBVAbbVie's venetoclax receives orphan designation for myeloid leukemia
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February 5, 2016
10:02 EDTABBVOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 21st Century Fox (FOXA) initiated with an Outperform at Telsey Advisory... AbbVie (ABBV) initiated with an Outperform at William Blair... CBS (CBS) initiated with an Outperform at Telsey Advisory... Criteo (CRTO) initiated with an Outperform at Boenning & Scattergood... LHC Group (LHCG) initiated with a Buy at Jefferies... Marriott Vacations (VAC) initiated with an Outperform at Credit Suisse... Prestige Brands (PBH) initiated with an Overweight at Piper Jaffray... Rubicon Project (RUBI) initiated with an Outperform at Boenning & Scattergood... TESARO (TSRO) initiated with a Buy at Lake Street... Time Warner (TWX) initiated with an Outperform at Telsey Advisory... TubeMogul (TUBE) initiated with a Neutral at Boenning & Scattergood... Viacom (VIAB) initiated with an Outperform at Telsey Advisory... Wyndham (WYN) initiated with a Neutral at Credit Suisse.
09:37 EDTABBVActive equity options trading on open
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06:28 EDTABBVAbbVie initiated with an Outperform at William Blair
William Blair analyst Y. Katherine Xu started AbbVie with an Outperform rating and $76 price target. The Humira franchise has "higher and longer growth prospects" than the Street projects, Xu tells investors in a research note.
February 4, 2016
19:30 EDTGRPNOn The Fly: After Hours Movers
UP AFTER EARNINGS: Ubiquiti Networks (UBNT), up 18.3%... Symantec (SYMC), up 9.3%... Hartford Financial (HIG), up 7.4%... Post Holdings (POST), up 6.3%... Lumentum (LITE), up 4.7%... TTM Technologies (TTMI), up 1.1%. ALSO HIGHER: Multi-Fineline (MFLX), up 40% after agreeing to be acquired for $23.95 per share. DOWN AFTER EARNINGS: Tableau Software (DATA), down 35.2%... LinkedIn (LNKD), down 29%... Giga-tronics (GIGA), down 28.6%... Hanesbrands (HBI), down 11.4%... YRC Worldwide (YRCW), down 18.8%... Outerwall (OUTR), down 14.2%... Deckers Outdoor (DECK), down 9.9%... Qorvo (QRVO), down 1.3%... athenahealth (ATHN), down 3.7%. ALSO LOWER: Hess (HES), down 6.7% after filing to sell 25M common shares and 10M depositary shares... Splunk (SPLK) is down 10.4%, Qlik Technologies (QLIK) is down 11.4%, Workday (WDAY) is down 6.2%, and Palo Alto Networks (PANW) is down 3% after Tableau Software reported quarterly results... Groupon (GRPN) is down 1.9%, Netflix (NFLX) is down 1.7%, Twitter (TWTR) is down 1.7%, and Facebook (FB) is down 1% are down after LinkedIn reported quarterly results.
16:00 EDTSHPGShire's NDA for lifitegrast for dry eye resubmssion acknowledged by FDA
Shire announced that the FDA has acknowledged receipt of the resubmission of the New Drug Application for lifitegrast for the treatment of signs and symptoms of dry eye disease in adults. Shire resubmitted the NDA in response to the complete response letter received from the FDA on October 16, 2015 that requested an additional clinical study and more information related to product quality. The FDA determined that the submission is a complete response and has assigned a 6-month review period for the NDA and a Prescription Drug User Fee Act goal date of July 22.
12:41 EDTABBVAbbVie management to meet with Evercore ISI
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February 3, 2016
08:07 EDTSHPGMedgenics names Brian Piper to succeed John Leaman as CFO
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February 2, 2016
10:40 EDTGRPNStifel warns Twitter may go way of tech busts, cuts to Sell
Twitter (TWTR) is giving up nearly all of yesterday's gains after Fortune and The Wall Street Journal poured cold water on a report that private equity firm Silver Lake might be considering making a strategic investment in the company. Additionally weighing on the stock are a Business Insider report claiming that the number of tweets has declined by more than 50% in the last 18 months and research firm Stifel downgrading the stock to Sell. WHAT'S NEW: Yesterday morning, tech website The Information reported that venture capitalist Marc Andreessen and private equity firm Silver Lake have considered making a deal involving Twitter. However, Silver Lake isn't looking to make a deal with Twitter, The Wall Street Journal reported, citing an unnamed source. The Journal's article echoes a report yesterday afternoon by Fortune, which also quoted an unnamed source as saying that Silver Lake isn't interested in buying Twitter. Also, according to Business Insider, the number of daily tweets on Twitter has plummeted by more than 50% since August 2014. The report based its estimate on a sampling of data from the website's application programming interface. Last month, there were 303M tweets per day on average, down from the peak of an average of 661M per day in August 2014, when the World Cup was occurring, the website stated. Moreover, according to the data, Twitter has about 130M active users, versus the company's estimate of up to 320M monthly active users. STIFEL SAY SELL: Stifel analyst Scott Devitt downgraded Twitter to Sell form Hold, saying that it has "never fully developed into a sustainable public company." Yahoo (YHOO) says that it has 1B monthly active users, but the market valuation of Yahoo's core business is "much lower" than that of Twitter, which has a significantly smaller user base, Devitt stated. Additionally, Internet companies Groupon (GRPN) and Zynga (ZNGA) became well-known and obtained tens of millions of users, only to see their stocks plummet, the analyst stated. Meanwhile, Twitter's product has not changed significantly since the company hired a new CEO three months ago and it will have difficulty meeting financial expectations over the short-term and longer term, given the size of its user base, said Devitt, who has a $14 price target for the shares. PRICE ACTION: In morning trading, Twitter fell 6.3% to $16.78. The stock had gained 6.55% yesterday on the heels of Jessica Lessin's report in The Information.
09:46 EDTSHPGIntercept rumored to draw interest from many suitors, Daily Mail says
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