New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 25, 2013
12:16 EDTTPX, HAIN, SRPT, SWKSOptions with increasing implied volatility: SRPT TPX SWKS HAIN
News For SRPT;TPX;SWKS;HAIN From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 >>
November 24, 2015
05:15 EDTSWKSSkyworks announces termination of merger agreement with PMC-Sierra
Skyworks Solutions (SWKS) announced that it decided not to modify its amended and restated merger agreement with PMC-Sierra (PMCS), entered into on October 29. Today PMC terminated the amended and restated merger agreement and, as a result, Skyworks is entitled to an $88.5M termination fee from PMC. Skyworks maintains a highly disciplined approach to the assessment of potential acquisition candidates, and at an increased valuation, PMC no longer meets Skyworks' financial criteria. Skyworks' upwardly revised mid-term target operating model remains unchanged from the annualized non-GAAP earnings per share of $8.00 it provided on its Q4 earnings conference call on November 5.
05:09 EDTSRPTStocks with implied volatility movement; SRPT DIS
Subscribe for More Information
November 23, 2015
09:18 EDTSRPTOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Tyson Foods (TSN), up 2.4%... Mallinckrodt (MNK), up 7.4%. ALSO HIGHER: Novocure (NVCR), up 16.8% after announcing new Phase 3 data from Optune study... CTI BioPharma (CTIC), up 12.7% after the initiation of its rolling new drug application to the FDA for pacritinib... Peabody Energy (BTU), up 14.8% after announcing an asset sale... Sarepta Therapeutics (SRPT), up 5.2% following a positive mention in Barron's. DOWN AFTER EARNINGS: Trina Solar (TSL), down 5.6%. ALSO LOWER: Par Pacific (PARR), down 13.2% after pricing its 3.4M registered direct offering at $22.00... Lions Gate (LGF), down 2.9% after the "Hunger Games" finale opens below the series average.
November 22, 2015
12:34 EDTSRPTSarepta looks favored over BioMarin in muscular dystrophy battle, Barron's says
As the FDA weighs competing Duchenne muscular dystrophy drugs from Sarepta (SRPT) and BioMarin (BMRN), Barron's gives Sarepta's eteplirsen "a strong edge" in the battle between the two companies. Approval chances are likely 75% or better for eteplirsen but less than 50% for BioMarin's drisapersen, the publication argues, citing clinical trial results, FDA comments, and discussions with "experts in the field" as well as parents of patients. Indeed, shares of Sarepta look "sharply undervalued" based on the potential of DMD drugs alone, adds Barron's, though the publication also warns that the stock could drop 50% or more if the FDA rejects eteplirsen. Reference Link
November 20, 2015
16:20 EDTSRPTOn The Fly: Top stock stories for Friday
Stocks on Wall Street began the session sharply higher, saw their highs in morning trading, and then slowly bled lower throughout much of the session. The averages still held on to gains, giving them their fourth winning session out of five this week and putting the finishing touch on one of the strongest weekly advances for stocks this year. ECONOMIC EVENTS: In the U.S., no major economic data was released. In Asia, China's Securities Regulatory Commission has restarted initial public offerings for five companies to list on the Shanghai stock exchange and five in Shenzhen, ending a five-month freeze on IPOs. COMPANY NEWS: Shares of Nike (NKE) advanced $6.84, or 5.44%, to $132.62 after the footwear and sports apparel giant announced a two-for-one stock split, a $12B stock repurchase program and plans to boost its dividend... Shares of Chipotle Mexican Grill (CMG) dropped sharply after the Center for Disease Control announced that three additional states have reported people infected within the E. coli outbreak linked to the company's restaurants. 45 people infected with the outbreak strain have now been reported from a total of six states - two in California, two in Minnesota, one in New York, one in Ohio, 13 in Oregon, and 26 in Washington - the CDC said. Chipotle shares closed down $76.52, or 12.5%, to $534.99 after the update. MAJOR MOVERS: Among the notable gainers was Cabela's (CAB), which gained $4.34, or 10.4%, to $46.10 after Bloomberg reported, citing people familiar with the matter, that the sporting goods retailer is receiving takeover interest and considering whether to commence a sales process. Also higher was Sarepta (SRPT), which jumped $7.29, or about 28%, to $33.36 after the FDA posted briefing materials ahead of next week's advisory committee meeting to review the New Drug Application for Kyndrisa, a Duchenne muscular dystrophy treatment under development from competitor BioMarin (BMRN). The committee review scheduled for Sarepta's rival drug, eteplirsen, is scheduled for January. BioMarin shares fell $6.11, or 5.9%, to $97.00 after the documents, which Piper Jaffray analyst Joshua Schimmer said take a "very harsh view" of the drug, were made public. Also lower were shares of Nimble Storage (NMBL), which plunged $10.34, or 50.7%, to $10.05 and was downgraded by at least eleven research firms following the company's significantly weaker than expected Q3 results and outlook. Peer Pure Storage (PSTG), which is scheduled to conduct its first earnings call as a public company in early December, also slid 15.3% to $14.74. INDEXES: The Dow rose 91.06, or 0.5%, to 17,823.81, the Nasdaq gained 31.28, or 0.62%, to 5,104.92, and the S&P 500 advanced 7.93, or 0.38%, to 2,089.17.
14:58 EDTSWKSDA Davidson technology analyst holds an analyst/industry conference call
Subscribe for More Information
13:26 EDTSRPTOn The Fly: Top stock stories at midday
Stocks began the session sharply higher and have remained there since the open. The move higher has come despite a barren economic calendar and amid headlines coming out of Mali regarding a new terrorist event that took place there. The equity market is working on its fourth higher close in the past five sessions, while oil prices continue struggling to stay above $40 per barrel. ECONOMIC EVENTS: In the U.S., no major economic data was released. COMPANY NEWS: Shares of Nike (NKE) advanced nearly 5% after the Dow member announced a two-for-one stock split, a $12B stock repurchase program and plans to boost its dividend... BioMarin (BMRN) shares were down 4% near noon, but that was well off their worst levels of the day, after the FDA posted briefing materials ahead of next weeks advisory committee meeting to review the New Drug Application for Kyndrisa for the potential treatment of Duchenne muscular dystrophy amendable to exon 51 skipping. Sarepta (SRPT), which is at work on a competing drug, eteplirsen, that has its own committee review scheduled for January, rose 31% and another player in the DMD space, PTC Therapeutics (PTCT), fell 7.5%. MAJOR MOVERS: Among the notable gainers was Abercrombie & Fitch (ANF), which rallied 21% after the company reported better than expected quarterly earnings. Also higher was Cabela's (CAB), which gained 10% after Bloomberg reported that the company was receiving takeover interest. In addition, Foot Locker (FL) was up 5% after reporting Q3 earnings and guiding for Q4. Among the noteworthy losers was Nimble Storage (NMBL), which fell 50% after its stock was downgraded by no fewer than 11 analysts following its quarterly report. Also lower was Mentor Graphics (MENT), which lost 32% after its shares were downgraded by no fewer than five analysts. INDEXES: In early afternoon trading, the Dow was up 101.65, or 0.57%, to 17,834.40, the Nasdaq was up 32.02, or 0.63%, to 5,105.66, and the S&P 500 was up 10.09, or 0.48%, to 2,091.33.
10:30 EDTSRPTRBC's Yee thinks FDA can still approve BioMarin DMD drug
RBC Capital analyst Michael Yee says BioMarin's risk/reward is attractive with shares between $90 and $100. The company may sway approval of Duchenne muscular dystrophy drug Kyndrisa at Tuesday's FDA panel meeting despite today's cautious documents, Yee tells investors in a research note. The FDA can approve the drug and use boxed warning and limitations to rare Exon51 patients, he contends. The analyst thinks shares have upside to $120-$130 on approval and downside to $80 on rejection, a level at which he'd be an "aggressive" buyer. Yee recommends buying BioMarin on today's selloff. He has an Outperform rating on the name. Shares of the orphan drugmaker are well off its lows but remain down $4.99 to $98.12 in morning trading. Sarepta, which is also developing a treatment for DMD, is up $6.49 to $32.56.
10:17 EDTSRPTHigh option volume stocks
Subscribe for More Information
09:48 EDTSRPTSarepta rallies sharply, levels to watch
Subscribe for More Information
09:19 EDTSRPTSarepta competitive advantage being read into Biomarin docs, says Piper Jaffray
Subscribe for More Information
08:05 EDTSRPTBioMarin drops after FDA posts review of DMD drug drisapersen
Shares of BioMarin are down 7% to $96.01 after the FDA posted a review of the company's Duchenne muscular dystrophy treatment drisapersen ahead of Tuesday's panel vote. Sarepta Therapeutics (SRPT), which is developing its own treatment for DMD, is trading higher while PTC Therapeutics (PTCT) is moving lower. Reference Link
November 19, 2015
14:49 EDTSRPTBefore the Move: Watch BioMarin into FDA advisory committee
BioMarin Pharmaceutical (BMRN), which develops and commercializes pharmaceuticals for serious diseases and medical conditions including Duchenne muscular dystrophy, or DMD, is awaiting an FDA advisory committee for its DMD drug drisapersen, which is brand named Kyndrisa. WHAT'S NEW: The Peripheral and Central Nervous System Drugs Advisory Committee is meeting on Tuesday, November 24 to discuss the New Drug Application, or NDA, for Biomarin's drisapersen. It is expected that briefing documents related to that meeting will be posted on the FDA's website tomorrow, Friday, November 20. BULLISH TAKE: On November 15, Leerink analyst Joseph Schwartz said he believes the FDA will feel compelled to approve at least one DMD drug due to "public attention and vocal demand," and says that most likely both drisapersen and Sarepta Therapeutics' (SRPT) eteplirsen will be approved. However, he also makes a case where eteplirsen is not approved due to the "extremely limited" clinical data on the drug. Schwartz noted that drisapersen's advisory panel on November 24 happens first and will be important for both companies, adding that he sees "significant" upside potential for BioMarin. On November 18, Goldman Sachs said it views the risk/reward in BioMarin as favorable, with the advisory committee as a key catalyst on the company's path to non-GAAP profitability. Goldman has a Buy rating on BioMarin shares. On November 19, Jefferies analyst Gena Wang wrote that a buy-side survey the firm conducted suggests positive expectations for BioMarin's advisory committee. Wang, who said the survey of 58 investors suggests buy-side expectations of a positive panel for Kyndrisa are 62%, noted that a positive outcome could push BioMarin higher by almost 20%, and positively impact peers PTC Therapeutics (PTCT) and Sarepta by over 20% and 6%, respectively. BAIRD CAUTIOUS: On November 19, Baird analyst Brian Skorney wrote a note titled "A Skeptic's Guide to DMD Regulatory Reviews" where he says the firm has "increasingly come to believe that the FDA is more likely to reject the NDA's for drisapersen and eteplirsen," although he notes the risk reward for BioMarin is skewed to the upside -- with 20% upside potential on approval, but only 10% downside potential on rejection. Baird has a Neutral rating on BioMarin. Skorney sees a 30% probability both drugs get approved during this review period, a 5% chance BioMarin's drug gets approved and Sarepta's gets rejected, a 5% chance Sarepta's gets approved and BioMarin's gets rejected, and a 60% chance that both get rejected. PRICE ACTION: In afternoon trading on Thursday, shares of BioMarin were down about 4.5% to $102.88, while shares of peers Sarepta and PTC Therapeutics were down 8% and 9.5%, respectively.
08:28 EDTSRPTBaird sees 60% chance BioMarin, Sarepta DMD drugs both get rejected
Baird analyst Brian Skorney said he increasingly thinks that the FDA is more likely to reject the NDA's for the two Duchenne muscular dystrophy drugs it will soon review, BioMarin's (BMRN) drisapersen and Sarepta's (SRPT) eteplirsen, though he notes that his confidence in any of the various approval/rejection scenarios is low. Skorney sees a 30% probability both drugs get approved during this review period, a 5% chance BioMarin's drug gets approved and Sarepta's gets rejected, a 5% chance Sarepta's gets approved and BioMarin's gets rejected, and a 60% chance that both get rejected. Skorney, who sees 20% upside potential and 10% downside potential for Biomarin based on this event, keeps a Neutral rating on its shares. The analyst thinks the risk-reward for Sarepta, however, is "massively" skewed to the upside, with 250% upside potential compared to 50% downside, and keeps an Outperform rating on its shares.
07:23 EDTSRPTBuy-side sees 62% chance of positive BioMarin panel, says Jefferies
Jefferies analyst Gena Wang says her firm's survey of 58 investors suggests buy-side expectations of a positive FDA panel on November 24 for BioMarin's (BMRN) Kyndrisa are 62%. Both positive and negative outcomes are expected to result in significant moves for all three stocks developing treatments for Duchenne muscular dystrophy, or BioMarin, Sarepta (SRPT) and PTC Therapeutics (PTCT), Wang tells investors in a research note. Investors expect a positive Kyndrisa outcome to push BioMarin shares 19% higher, PTC shares 23% higher and Sarepta shares 6% higher, the analyst points out. She notes that a negative panel vote is expected to drive all three stocks 20%-30% lower.
07:05 EDTSWKSMicrosemi announces revised proposal to acquire PMC-Sierra deemed 'superior'
Subscribe for More Information
November 18, 2015
09:06 EDTHAINHain Celestial weakness looks overdone, says Bernstein
Bernstein notes that Hain Celestial (HAIN) is now trading at a lower valuation than a number of "ostensibly more challenged food companies like" Kellogg (K) and General Mills (GIS). The firm expects the company to benefit over the longer term from current food trends. It trimmed its price target on the name to $50 from $60 and keeps an Outperform rating.
November 17, 2015
08:44 EDTSRPTSarepta says eteplirsen study shows 'positive' results
Subscribe for More Information
November 16, 2015
08:02 EDTSWKSPMC-Sierra reiterates commitment to Skyworks transaction
Subscribe for More Information
07:16 EDTSRPTFDA likely feels compelled to approve at least one DMD drug, says Leerink
Leerink analyst Joseph Schwartz says the FDA likely feels compelled to approve at least one of the exon skipping drugs to treat Duchenne muscular dystrophy in this review cycle. There is so much public attention and vocal demand in the DMD community, Schwartz tells investors in a research note. The FDA advisory panel on BioMarin's (BMRN) drisapersen is on November 24 while the panel on Sarepta's (SRPT) eteplirsen is tentatively scheduled for January 22, 2016. The greatest likelihood is that both drugs are approved, Schwartz contends. Shares of BioMarin have "significant" upside potential on a positive panel vote as many investors still doubt that drisapersen is approvable based on existing data, and approval would "greatly aid" the company's goal to reach profitability, the analyst argues. He reiterates an Outperform rating on BioMarin and a Market Perform rating on Sarepta. Jefferies analyst Eun Yang said on Friday that regulatory experts she spoke with see a high likelihood of a positive FDA panel vote BioMarin.
1 | 2 >>

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use