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Stock Market & Financial Investment News

News Breaks
February 13, 2013
11:55 EDTSNTA, EZCH, JNY, ARRS, AZNHigh option volume stocks: SNTA EZCH JNY ARRS AZN
News For SNTA;EZCH;JNY;ARRS;AZN From The Last 14 Days
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September 29, 2014
06:02 EDTAZNAstraZeneca provides update on investigational cancer medicines
AstraZeneca said it has presented new data from its pipeline of investigational cancer medicines at the European Society of Medical Oncology 2014 Congress in Madrid. Together with MedImmune, the company presented data from over 40 abstracts. Highlights include: Preliminary results in the ongoing Phase I MEDI4736 plus tremelimumab combination study in patients with non-small cell lung cancer who have already received prior cancer treatments; Updated data from a Phase I monotherapy study of MEDI4736 in patients with metastatic squamous cell carcinoma of the head and neck; Further data from the Phase I/II study of AZD9291 in patients with epidermal growth factor receptor mutation positive T790M+ advanced NSCLC who had disease progression following treatment with an EGFR tyrosine kinase inhibitor.
September 26, 2014
16:55 EDTAZNMarket ends week lower after inversion crackdown, mixed data
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07:31 EDTAZNNektar announces MOVENTIG receives positive CHMP opinion in EU
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07:17 EDTAZNIGI Laboratories price target raised to $10 from $8 at Oppenheimer
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September 25, 2014
16:17 EDTAZNOn The Fly: Closing Wrap
Stocks on Wall Street were sharply lower and suffered their worst day in nearly two months, with market participants pointing to a number of reasons for the broad-based weakness. Shares of Apple (AAPL) were a drag on the market, and particularly on the Nasdaq, as the tech giant slid after a number of reports pointed to customer issues with its new iPhone 6 and an update to its mobile operating system. Cautious comments about rates by a noted Federal Reserve "hawk" may have also contributed, as well as reports that Russia may respond to U.S. and EU sanctions with a new law that will allow it to seize foreign property within the country. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 12K to 293K in the week ended September 20, though this was below the consensus forecast for 296K new claims. Durable goods orders fell 18.2% in August following a 22.5% surge in July. However, excluding transportation, orders were up 0.7%, which was a bit above the forecast for a 0.6% increase. Additionally, the head of the Dallas Federal Reserve, Richard Fisher, said that the central bank may start raising rates in the spring of 2015, which is earlier than most market watchers expect. Also, a Reuters report that Russia has drafted a law that would allow it to seize foreign assets on Russian territory to compensate those impacted by sanctions or who have had their own property seized outside of Russia garnered significant attention. COMPANY NEWS: Apple declined $3.88, or 3.81%, to $97.87 after reports yesterday from various tech blogs said the company pulled a new update of iOS 8 after complaints that the new software was crashing cellular service and Touch ID on users' phones. Other reports indicate the new iPhone 6 is reportedly bending in some owners' pockets, though the company told CNBC's John Fortt that it has only received nine customer complaints regarding bent phones. Also, Barron's reported that Apple insiders, including CEO Tim Cook, have sold over 1.4M shares of Apple stock this month. MAJOR MOVERS: Among the notable gainers was Swift Transport (SWFT), which gained $1.83, or 9.56%, to $20.98 after the company backed its Q3 earnings outlook and said it was "cautiously optimistic" about the trends it has seen as a result of its strategic decision regarding driver compensation. Also higher was IGI Laboratories (IG), which rose $1.36, or 18.26%, to $8.81 after the company acquired the regulatory rights and related documents and records for 18 drug products from AstraZeneca (AZN). Among the noteworthy losers was BlackBerry (BBRY), which fell 71c, or 6.76%, to $9.80 the day before it reports on its quarterly results. Ahead of tomorrow morning's report, BGC Financial analyst Colin Gillis downgraded shares of the smartphone maker to Hold from Buy, saying the company's results "may prove underwhelming." Also lower were shares of adhesives maker H.B. Fuller (FUL), which fell $6.30, or 14.32%, to $37.68 after the company's third quarter results and fourth quarter profit outlook missed analysts' consensus estimates. INDEXES: The Dow plunged 264.26, or 1.54%, to 16,945.80, the Nasdaq dropped 88.47, or 1.94%, to 4,466.75, and the S&P 500 declined 32.31, or 1.62%, to 1,965.99.
08:31 EDTAZNIGI Laboratories acquires 18 former products from AstraZeneca
IGI Laboratories (IG) announced it has acquired the regulatory rights and related documents and records for 18 drug products from AstraZeneca (AZN), 17 of which were marketed. The acquisition includes the regulatory rights and documents for 17 injectable products and 1 suppository product. All of these products had been previously approved by the FDA as abbreviated new drug applications or new drug applications prior to their discontinuation or withdrawal from the market. According to IMS Health, the current addressable market in the United States for the therapeutic areas that these products were previously indicated for is estimated at $200M as of May 2014.
September 24, 2014
11:02 EDTAZNAstraZeneca holds an analyst and investor briefing with a conference call hookup
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07:43 EDTARRSARRIS and Comcast trial ew RDK software in broadband modems
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September 23, 2014
16:20 EDTAZNOn The Fly: Closing Wrap
Stocks on Wall Street were lower after the U.S. took new action to clamp down on tax inversion deals and led airstrikes against Islamic State militants in Syria, while Europe reported weaker than expected manufacturing data. ECONOMIC EVENTS: In the U.S., the FHFA's home price index rose 0.1% in July to 212.7, missing expectations for an increase of 0.5%. Markit's preliminary manufacturing Purchasing Managers' Index for September came in at 57.9, slightly below the consensus forecast for a 58.0 reading. In China, HSBC's flash manufacturing PMI rose to 50.5 from a final reading of 50.2 in August, better than expectations. In Europe, Markit's composite flash PMI for the eurozone dipped to a nine-month low of 52.3, missing expectations for it to hold steady with its 52.5 reading for August. COMPANY NEWS: The shares of a number of companies that have announced or been speculated as targets in tax inversion deals fell after the U.S. Treasury last night issued new regulations that will make such deals less attractive. AstraZeneca (AZN), which has previously turned down an offer to be acquired by the U.S.'s Pfizer (PFE), sank $3.54, or 4.74%, to $71.13 despite a Bloomberg report that said Pfizer is still considering pursuing a deal with the U.K. drugmaker. AbbVie (ABBV), which has a deal in progress to acquire Shire (SHPG) and thus move its tax domicile to Ireland, fell $1.15, or 1.96%, to $57.56, while Shire shares slid $5.56, or 2.17%, to $250.74. Medtronic (MDT), which is pursuing its own inversion deal with Covidien (COV), dropped $1.90, or 2.88%, to $64.08. MAJOR MOVERS: Among the notable gainers was Herbalife (HLF), which rose $3.88, or 9.65%, to $44.09, bouncing back from a pullback yesterday that had been attributed to rumors of Carl Icahn selling out of his stake in the company. Also higher was Plug Power (PLUG), which rose 40c, or 9.57%, to $4.58 after the company's CEO gave FY15 revenue guidance that was above the consensus Street view in an interview with the Albany Business Review. Among the noteworthy losers was Ascena Retail (ASNA), which dropped $2.78, or 16.82%, to $13.75 after the apparel retailer's fourth quarter results and fiscal 2015 profit outlook trailed analysts' consensus estimates. Also lower were shares of used car retailer CarMax (KMX), which fell $5.01, or 9.49%, to $47.80 after the company reported sluggish comparable used car sales in its second quarter. INDEXES: The Dow declined 116.81, or 0.68%, to 17,055.87, the Nasdaq dropped 19.00, or 0.42%, to 4,508.69, and the S&P 500 fell 11.52, or 0.58%, to 1,982.77.
14:25 EDTARRSARRIS management to meet with Stephens
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14:25 EDTAZNAstraZeneca trades lower, levels to watch
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14:23 EDTAZNPfizer approached Actavis about takeover, Bloomberg reports
Pfizer (PFE) approached Actavis (ACT) to express interest in an acquisition, Bloomberg reports, citing people with knowledge of the matter said. No formal talks are ongoing and Pfizer has not made an offer, Bloomberg adds. Pfizer is still considering pursuing a deal with AstraZeneca (AZN) as well as other options, the report says. Shares of Actavis rallied 3% to $243.06 following the story. Reference Link
14:12 EDTAZNPfizer weighing options including AstraZeneca bid, Bloomberg says
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13:44 EDTAZNISI Group to hold a webinar
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12:11 EDTAZNOn The Fly: Midday Wrap
Stocks on Wall Street were mixed and little changed at midday, amid new rules from the Obama administration on tax inversions and manufacturing data from around the globe. ECONOMIC EVENTS: In the U.S., the FHFA's home price index rose 0.1% in July to 212.7, missing expectations for a rise of 0.5%. Markit's preliminary manufacturing Purchasing Managers' Index for September came in at 57.9, slightly below the consensus forecast for a 58.0 reading. The Richmond Fed manufacturing index for September rose to 14, beating expectations for it to have dropped two points to 10. In China, HSBC's flash manufacturing Purchasing Managers' Index rose to 50.5 from a final reading of 50.2 in August, better than expectations. In Europe, Markit's composite flash PMI for the eurozone dipped to a nine-month low of 52.3, missing expectations for it to hold steady at the 52.5 seen in August. COMPANY NEWS: Shares of several companies, including a number in the pharmaceutical industry, are lower in early trading after the Treasury Department announced new regulations yesterday night that aim to make it tougher for U.S. companies to lower their tax burdens via mergers with foreign companies, otherwise known as "inversions." Among the stocks that moved lower after the new rules were announced was Astrazeneca (AZN), which had previously been a target of Pfizer (PFE) and fell about 4% near midday. Also lower were shares of both Shire (SHPG), which fell 2%, and Abbvie (ABBV), which dropped 1.6%, as the two have previously agreed to merge in a tax inversion deal. Medtronic (MDT) and Covidien (COV), which similarly agreed to an inversion merger, were down 3.3% and 2.7%, respectively. MAJOR MOVERS: Among the notable gainers was Salix Pharmaceuticals (SLXP), which rose more than 5% after The Wall Street Journal reported that Allergan (AGN) is in advanced talks on a deal to buy the company. Shares of Allergan were also up nearly 3% near midday, as the Journal also reported that Allergan rejected a recent buyout offer from Actavis (ACT). Among the noteworthy losers was Ascena Retail (ASNA), which dropped 16% after the apparel retailer's fourth quarter results and fiscal 2015 profit outlook trailed analysts' consensus estimates. Also lower following its own earnings report was auto retailer CarMax (KMX), which fell over 9%. INDEXES: Near midday, the Dow was down 32.91, or 0.19%, to 17,139.77, the Nasdaq was up 2.90, or 0.06%, to 4,530.59, and the S&P 500 was down 2.29, or 0.11%, to 1,992.00.
10:54 EDTAZNStocks, analysts react to Treasury inversion crackdown
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September 22, 2014
07:21 EDTAZNEBD Group to hold a conference
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September 19, 2014
09:33 EDTAZNAstraZeneca says DURATION-NEO-1 trial met primary endpoint
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07:54 EDTAZNSalix price target raised to $192 from $161 at Canaccord
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September 17, 2014
07:43 EDTAZNBofA/Merrill to hold a conference
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