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Stock Market & Financial Investment News

News Breaks
May 19, 2014
16:27 EDTCPB, MU, ITMN, BRCM, NVDA, LOCK, TXN, AZN, PFE, DTV, TOn The Fly: Closing Wrap
Stocks on Wall Street were higher following a trading day marked by light volume, a quiet economic calendar and two headline making M&A announcements. The averages began the day slightly below the flat line, but within minutes the Nasdaq and S&P 500 made it into positive ground. The Dow followed by the end of the morning, but the averages moved in a narrow range from there. Despite the range-bound trading, the market internals pointed to a pretty broad based move higher, with advancers ahead of declining stocks by almost 2 to 1. ECONOMIC EVENTS: In the U.S., no major domestic economic data was reported. COMPANY NEWS: AT&T (T) shares slid 36c, or 0.98%, to $36.38 after the company confirmed over the weekend that it has agreed to acquire DirecTV (DTV) for $95.00 per share, including $28.50 per share in cash and $66.50 per share in AT&T stock. After the announcement, analysts at Raymond James upgraded AT&T to Buy from Market Perform, noting that they do not expect another buyer to emerge for DirecTV. Meanwhile, DirecTV shares were downgraded to Equal Weight from Overweight at Evercore and to Hold from Buy at Wunderlich. Shares of DirecTV fell $1.53, or 1.77%, to $84.65 after the deal, which has been widely speculated about in the media in recent weeks, was confirmed... Also over the weekend, Pfizer (PFE) raised its bid for AstraZeneca (AZN), but the U.K. drugmaker again rejected this "final" takeover proposal. Shares of Pfizer rose 16c, or 0.55%, to $29.28 after the rejection, while shares of AstraZeneca trading in New York dropped $9.64, or 12.01%, to $70.64. MAJOR MOVERS: Among the notable gainers was InterMune (ITMN), which gained $4.61, or 13.44%, to $38.92 after reporting results from a study evaluating pirfenidone and having its shares upgraded to Outperform at Leerink. Also higher was NVIDIA (NVDA), which rose 58c, or 3.23%, to $18.54 after it was one of several semiconductor stock, along with Micron (MU), Texas Instruments (TXN), and Broadcom (BRCM), that were upgraded to Outperform from Sector Perform by RBC Capital in a note to investors earlier today. Among the noteworthy losers was LifeLock (LOCK), which fell $2.28, or 17.57%, to $10.70 after disclosing that the company is going to temporarily suspend its Wallet mobile application since it is not fully compliant with applicable payment card industry security standards. Also lower were shares of Campbell Soup (CPB), which dropped $1.06, or 2.35%, to $44.06 after the company reported mixed third quarter results and lowered its fiscal 2014 outlook. INDEXES: The Dow was up 20.55, or 0.12%, to 16,511.86, the Nasdaq was up 35.23, or 0.86%, to 4,125.81, and the S&P 500 was up 7.22, or 0.38%, to 1,885.08.
News For T;DTV;PFE;AZN;NVDA;MU;TXN;BRCM;CPB;LOCK;ITMN From The Last 14 Days
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April 15, 2015
17:36 EDTMUMicron shares trade lower by 1% after SanDisk Q1 results
15:05 EDTMUEarnings Watch: SanDisk to report Q1 results after lowering revenue guidance
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11:50 EDTAZNAstraZeneca initiated with a Buy at Societe Generale
10:19 EDTDTVOptions with decreasing implied volatility
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09:55 EDTTXN, NVDABofA/Merrill U.S. autos analysts hold an analyst/industry conference call
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08:04 EDTPFEPfizer: PALOMA-3 trial for IBRANCE met primary endpoint, trial stopped early
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07:41 EDTAZNEBD Group to hold a forum
ChinaBio Partnering Forum 2015 is being held in Shanghai, China on April 15-16.
06:46 EDTTAT&T files lawsuit to challenge net neutrality order, WSJ says
AT&T filed a lawsuit to overturn the FCC's net neutrality order to reclassify the internet as a telecommunications service, reports the Wall Street Journal. The move is surprising, as AT&T didn't join in prior suits, the Journal adds. Reference Link
06:35 EDTBRCM, TXNSamsung says Galaxy S6 demand much stronger than expected, Reuters reports
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April 14, 2015
12:40 EDTTPCTEL lowers FY15 revenue to $124M-$130M from $133M-$138M, two estimates $130M
Following its March 5 acquisition of Nexgen Wireless, PCTEL (PCTI) reported in a regulatory filing earlier that on April 7, Samsung Electronics America, a Samsung (SSNLF) subsidiary, provided Nexgen and PCTEL with a notice of Samsung’s election to terminate, effective April 30, the contractor services agreement between Samsung and Nexgen. Nexgen furnishes services to Samsung under the CSA including Meridian software-based services and contract personnel. The termination applies to the CSA only and will have no effect on other agreements between Samsung and Nexgen or PCTEL. The company continues to forecast 15%-18% revenue growth over FY14 and views the Nexgen acquisition as accretive to earnings in FY15. The company has revised its overall revenue forecast for FY15 in light of reduced business with Samsung, the reduction in capital spending by AT&T (T), and a decline in new network infrastructure investment in the oil and gas market. The company has revised revenue guidance from $133M-$138M to $124M-$130M. Finally, the company and Nexgen have signed a term sheet calling for a material reduction of the total consideration paid or payable by PCTEL for the Nexgen assets, and a material reduction of the equity compensation for which John Thakkar, the founder and president of Nexgen, will be eligible. These reductions seek to align the asset acquisition costs with the revised revenue and EBITDA estimates.
12:06 EDTAZNFDA panel accepts Onglyza's safety profile in 13-1 vote
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10:34 EDTDTVOptions with decreasing implied volatility
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09:19 EDTMUMicron management to meet with Brean Capital
Meeting to be held in Chicago on April 21 hosted by Brean Capital.
07:15 EDTAZNFDA Endocrinologic & Metabolic Drugs Advisory Committee holds a meeting
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April 13, 2015
20:16 EDTTUSTelecom files net neutrality lawsuit against FCC
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15:12 EDTPFEMylan enters settlement, license agreement with Pfizer regarding Viagra
Mylan (MYL) announced that its subsidiaries Mylan Inc. and Mylan Pharmaceuticals have entered into a settlement and license agreement with Pfizer (PFE), Pfizer Limited and Pfizer Ireland Pharmaceuticals to settle patent litigation relating to Mylan's Abbreviated New Drug Application filed with the U.S. FDA for Sildenafil Citrate Tablets 25 mg, 50 mg, and 100 mg. This product is the generic version of Viagra, which is indicated to treat erectile dysfunction. Under the terms of the agreement, Mylan will be able to launch its ANDA products pursuant to a royalty-bearing license as early as December 11, 2017, or sooner under certain conditions, subject to FDA approval. All other terms and conditions of the settlement and license agreement are confidential, and the agreement itself is subject to review by the U.S. Department of Justice and the Federal Trade Commission. For the 12 months ending Dec. 31, 2014, Viagra had U.S. sales of approximately $1.3B, according to IMS Health.
10:04 EDTBRCMBroadcom calls active on renewed takeover chatter
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09:52 EDTBRCMRumor: Broadcom strength attributed to renewed takeover speculation
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08:58 EDTAZNMerck may have positive read through from briefing docs, says SunTrust
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08:54 EDTAZNAstraZeneca has negative read through from briefing docs, says SunTrust
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