New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 8, 2013
10:32 EDTSHPG, IRE, MFC, SIG, MON, CLMTHigh options volume: SHPG MON MFC CLMT SIG IRE
News For SHPG;MON;MFC;CLMT;SIG;IRE From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
January 20, 2015
08:10 EDTSHPGShire price target raised to $247 from $228 at Jefferies
Subscribe for More Information
January 16, 2015
16:36 EDTSHPGMarket finishes week lower on continued oil, global growth worries
Subscribe for More Information
10:34 EDTMONMonsanto announces $365M debt offering
Subscribe for More Information
January 15, 2015
17:44 EDTMONMonsanto's weed control technology deregulated by USDA
Subscribe for More Information
13:20 EDTMONMonsanto gets U.S. approval for engineered soybean, cotton seeds, WSJ reports
Subscribe for More Information
January 13, 2015
17:37 EDTSHPGShire targets $10B in organic product sales by 2020
Subscribe for More Information
January 12, 2015
16:32 EDTSHPGOn The Fly: Closing Wrap
Stocks spent almost the entire session in negative territory as the continued slump in crude oil prices weighed on equities. As the price of crude searches for a bottom, analysts and investors are concerned about how the low prices may affect U.S. economic growth. It had been estimated that more than half of the expected growth in the S&P 500's earnings would come from the oil industry and the continued drop in oil prices may be wiping out the chances of earnings increasing from the prior quarter. The earnings season unofficially kicks off tonight when Alcoa (AA) reports its fourth quarter earnings. ECONOMIC EVENTS: In the U.S., no major economic data was released. WTI and Brent crude both suffered slides of 5% during the session, sending WTI oil below $46 and Brent near $47 per barrel. Of note, Goldman Sachs said it sees oil prices bottoming in Q2 of this year at $42 a barrel. Goldman lowered its Brent crude oil price estimate for 2015 to $50 a barrel from $84 and for 2016 onwards to $70 a barrel from $90. COMPANY NEWS: Shire (SHPG) shares trading in New York slipped $8.39, or 3.86%, to $209.10 after the company announced over this weekend that it struck a deal to acquire NPS Pharmaceuticals (NPSP) for $46 per share in cash, for a total consideration of approximately $5.2B. NPS shares gained $3.44, or 8.21%, to $45.35... Shares of flash storage provider SanDisk (SNDK) dropped $13.47, or 13.88%, to $83.57 after the company cut its revenue outlook for Q4 and added that non-GAAP gross margin for the quarter is expected to be approximately 45%, compared to the previously guided range of 47%-49%. "The lower revenue was primarily due to weaker than expected sales of retail and iNAND products," SanDisk explained. Micron (MU) fell $1.87, or 5.56%, to $31.66 following the warning from its peer. MAJOR MOVERS: Among the notable gainers was Foundation Medicine (FMI), whose shares surged $22.81, or 95.32%, to $46.74 after the company and Roche (RHHBY) announced that they will enter into a strategic collaboration. Roche will invest in Foundation as part of the deal, resulting in Roche owning a minimum of 52.4% and a maximum of 56.3% of Foundation Medicine on a fully diluted basis. Also higher was Build-A-Bear Workshop (BBW), which jumped $3.12, or 16.75%, to $21.75 after the toy company gave a fourth quarter revenue view that beat expectations. Among the noteworthy losers was Arrowhead Research (ARWR), which fell $2.16, or 23.84%, to $6.90 after announcing that the FDA verbally informed the company of a partial clinical hold on its study of ARC-520 in patients with chronic hepatitis B infection. Also lower were shares of Sarepta Therapeutics (SRPT), which dropped $2.04, or 14.62%, to $11.91 after the company provided data through Week 168 from its Phase IIb open-label extension study of eteplirsen in patients with Duchenne muscular dystrophy. INDEXES: The Dow fell 96.53, or 0.54%, to 17,640.84, the Nasdaq lost 39.36, or 0.84%, to 4,664.71, and the S&P 500 declined 16.55, or 0.81%, to 2,028.26.
12:46 EDTSHPGOn The Fly: Midday Wrap
Subscribe for More Information
12:02 EDTMONUSDA cuts 2014 corn output estmate on lower yields
In its latest World Agricultural Supply and Demand Estimates, or WASDE, report, the U.S. Department of Agriculture said its U.S. feed grain supplies for 2014/15 are now projected lower, with a reduction in corn production more than offsetting an increase in sorghum. Corn production is estimated 191M bushels lower, though yield and production both remain records, USDA noted. Publicly traded companies in the space include Agrium (AGU), Andersons (ANDE), Archer Daniels (ADM), Bunge (BG), CF Industries (CF), Compass Minerals (CMP), DuPont (DD), Intrepid Potash (IPI), Monsanto (MON), Mosaic (MOS), Potash (POT) and Syngenta (SYT). Reference Link
11:41 EDTSIGTiffany plummets after cutting fiscal 2014 profit outlook
Shares of jewelry and accessories retailer Tiffany (TIF) are sinking after the company lowered its profit outlook for fiscal 2014. Additionally, the company reported holiday sales for the two-month period ended December 31 were 1% below prior year levels. WHAT'S NEW: Tiffany this morning reported sales results for the two-month holiday period ended December 31. For the period, the company reported worldwide net sales of $1.02B, 1% below the prior year. Worldwide net sales increased 3% and comparable sales were even with the prior year on a constant-exchange-rate basis, which excludes the effect of translating foreign-currency-denominated sales into U.S. dollars. WHAT'S NOTABLE: Tiffany cut its FY14 net earnings per share view to $4.15-$4.20 from $4.20-$4.30, trailing analysts' consensus estimates of $4.32. Tiffany President and Chief Executive Officer Federic Cumenal said that the company is planning "cautiously" for the coming year. Cumenal noted that the company anticipates "significant headwinds from the stronger U.S. dollar against all of our key currencies that, as we experienced in the holiday period, negatively affects both the translation of results and sales to tourists in the U.S." Cumenal said that these factors are expected to result in the company planning low-to-mid single-digit sales and earnings growth in 2015. Cumenal also commented that "Despite these and other global economic pressures that we anticipate in the short-term, we believe that, when they abate, Tiffany will resume higher earnings growth rates based on stronger sales growth and increasing operating margins." ANALYST REACTION: This morning, research firm Sterne Agee lowered its price target for Tiffany to $110 from $121 citing the company's "disappointing" holiday comps and "soft" initial 2015 guidance. However, he firm kept a Buy rating on the name, and said it is encouraged by the company's relative strength in Asia-Pacific and Europe. PRICE ACTION: In late morning trading, Tiffany fell $12.15, or about 11.7%, to $91.30 on more than three times its average daily trading volume. Despite today's pull back, the shares have gained approximately 1% over the past 12 months. OTHERS TO WATCH: Tiffany & Co peers include Signet Jewelers (SIG), down 0.6%, and Blue Nile (NILE), down 2.2%.
09:30 EDTSHPGOn The Fly: Pre-market Movers
HIGHER: Foundation Medicine (FMI) up 138.9% following transaction with Roche (RHHBY)... Celator Pharmaceuticals (CPXX), up 19.1% after announcing promising Phase 2 data for CPX-351... Second Sight (EYES), up 16.7% after Health Canada approves Argus II retinal prosthesis system... Aegerion (AEGR), up 7.8% after reporting preliminary fourth quarter results and guidance... Express (EXPR), up 4.5% after reporting preliminary fourth quarter results. NOTABLE: NPS Pharmaceuticals (NPSP), up 8.5% following acquisition by Shire (SHPG)... Shire is down 1.1% in pre-market trading. LOWER: Arrowhead (ARWR), down 20.9% after FDA clears company to begin modified study of ARC-520 in a preliminary call of a partial clinical hold... Tiffany (TIF), down 10.4% after lowering fiscal 2014 net EPS guidance... SanDisk (SNDK), down 10.1% after lowering fourth quarter outlook... Ascena Retail (ASNA), down 5.8% after lowering fiscal 2015 adjusted EPS view... Sarepta Therapeutics (SRPT), down 5.9% after reporting long-term outcomes from Phase IIb Eteplirsen study... Loral Space & Communications (LORL), down 3.6% following a NY Post article that reported that talks to sell itself to the Ontario Teachers’ Pension Plan have ended... Southwestern Energy (SWN), down 4.2% after filing to sell 20.3M shares of stock and 26M depository shares.
08:47 EDTSHPGShire acquisition favorable, says RBC Capital
Subscribe for More Information
08:37 EDTSHPGShire deal suggests most biotech companies in play, says JMP Securities
After Shire (SHPG) agreed to buy NPS Pharmaceuticals (NPSP), JMP Securities says the deal indicates that most biotech companies are in play, particularly those with worldwide rights to their products for well-defined patient populations. The firm expects investors to speculate all week about potential new targets in the space. Publicly traded companies in the space include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY).
08:14 EDTSHPGShire acquisition positive, says SunTrust
Subscribe for More Information
08:00 EDTSHPGShire deal for NPS Pharmaceuticals positive, says Susquehanna
Subscribe for More Information
07:56 EDTSHPGShire price target raised to $257 from $223 at William Blair
Subscribe for More Information
07:46 EDTSIGStephens Events at 17th Annual ICR XChange Conference
Subscribe for More Information
07:11 EDTSHPGNPS Pharmaceuticals volatility elevated into being acquired by Shire in a $5.2B
Subscribe for More Information
05:55 EDTSIGSignet Jewelers management to meet with Cowen
Subscribe for More Information
January 11, 2015
11:08 EDTSHPGShire acquires NPS Pharmaceuticals for $46 per share or $5.2B
Shire (SHPG) and NPS Pharmaceuticals (NPSP) announced that the companies have entered into a merger agreement pursuant to which Shire will acquire all the outstanding shares of NPS Pharma for $46.00 per share in cash, for a total consideration of approximately $5.2B. Shire said it "will accelerate the growth of NPS Pharma's innovative portfolio through its market expertise in gastrointestinal disorders, core capabilities in rare disease patient management, and global footprint." The transaction has been approved unanimously by the boards of both Shire and NPS Pharma. The $46 per share price in the transaction represents a 51% premium to NPS Pharma's unaffected share price of $30.47 on December 16, 2014. The acquisition is expected to enhance Shire's revenue and earnings growth profile. Shire expects the transaction to be accretive to non-GAAP earnings from 2016 onward. Related to the acquisition, Shire anticipates that it will realize operating synergies beginning in 2016 and growing "substantially" thereafter. Shire anticipates synergies approximating 25%-35% of the Street's consensus forecast of NPS Pharma's standalone future operating cost base from 2017 onward. Shire also expects that the transaction will deliver ROIC in excess of its weighted average cost of capital. Shire has secured an $850M fully underwritten short-term bank facility, which, in addition to Shire's cash and cash equivalents and its existing $2.1B five-year revolving credit facility, is available to finance the transaction and pay related fees and expenses. Shire plans to refinance the short-term bank facility through new debt issuances in "due course." The closing of the deal is anticipated in Q1 of 2015. Shares of NPS closed Friday down $1.01 to $41.91.
1 | 2 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use