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Stock Market & Financial Investment News

News Breaks
March 31, 2014
12:18 EDTMYL, NDZ, MNTA, PRAN, MU, TEVA, TOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday in the last trading day of the first quarter of the year. The disappointing Chicago purchasing managers' report was offset by dovish comments from Fed Chief Yellen, who said the the central bank’s "extraordinary" aid will last for "some time.” ECONOMIC EVENTS: In the U.S., the Chicago PMI business barometer index came in at 55.9, versus the consensus forecast for a 59.0 reading. In Europe, the annual inflation rate across the 18-country eurozone fell for the third consecutive month, slipping to 0.5% in March, compared to analysts' consensus forecast for a milder drop to 0.6%. COMPANY NEWS: Shares of AT&T (T) advanced early in the session after the company's board of directors authorized the repurchase of up to 300M shares, or about 6% of its common shares outstanding. The company also noted it has 125M shares left under its buyback authorization that was issued in March of last year, but the stock had given up much of its early advance to be up fractionally near noon. MAJOR MOVERS: Among the notable gainers was Canada's Nordion (NDZ), which jumped 11% after the company agreed to be acquired by Sterigenics for $11.75 per share in cash shortly after Canada's government lifted its 25% limit on foreign investment in the company. Also higher following analyst commentary was Micron (MU), which rose nearly 8% amid notes in its defense from Stifel and Pacific Crest, as well as broad-based strength in technology stocks that have recently pulled back. Among the noteworthy losers were Momenta Pharmaceuticals (MNTA), which dropped 15%, and Mylan (MYL), which slipped over 1%, after the Supreme Court agreed to hear an appeal by Teva (TEVA) of a court ruling that would enable generic versions of its multiple sclerosis drug, Copaxone, to be sold in May. Also lower were shares of Prana Biotechnology (PRAN), which plunged over 70% after its clinical study of a drug being tested as a treatment of Alzheimer's Disease did not hit its primary endpoint. INDEXES: Near midday, the Dow was up 118.43, or 0.73%, to 16,441.49, the Nasdaq was up 52.48, or 1.26%, to 4,208.23, and the S&P 500 was up 14.56, or 0.78%, to 1,872.18.
News For T;PRAN;NDZ;TEVA;MNTA;MYL;MU From The Last 14 Days
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December 10, 2014
05:15 EDTTAT&T rebrands Alltel in Georgia
AT&T has upgraded the former Alltel retail locations in Georgia and opened them under the AT&T brand. AT&T has also upgraded the former Alltel network in Georgia to combine the strength of Alltel's local coverage with AT&T's 4G LTE network. In early 2015, more than 100,000 former Alltel wireless customers in Georgia will begin using new devices that work on AT&T's network.
December 9, 2014
10:28 EDTTVerizon drops after warning about promotional impact on profits
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07:44 EDTTEVAAmerican Association for Cancer Research to hold a symposium
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07:32 EDTTUBS to hold a conference
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06:25 EDTMUMicron attempt to renegotiate supply agreement with Inotera, DigiTimes says
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December 8, 2014
18:24 EDTTOn The Fly: After Hours Movers
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11:30 EDTMYL, TEVALeerink generics pharmaceutical analyst holds analyst/industry conference call
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08:21 EDTTEVAMerck says looked at all risks, including patent litgation, before Cubist deal
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07:36 EDTMUMicron December volatility of 31 at low end of historic range
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06:47 EDTTEVAArena says Teva files marketing authorization of Belviq in Israel
Arena Pharmaceuticals (ARNA) disclosed late Friday that Teva Pharmaceutical's (TEVA) local Israeli subsidiary, Abic Marketing Limited, has filed for marketing authorization of Belviq in Israel. In connection with the filing, Arena will receive a milestone payment of $250K.
December 5, 2014
13:55 EDTMUMicron CEO said to be upbeat on DRAM pricing, CNBC's Lee reports
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10:05 EDTMYLBristol-Myers jumps 2% amid talk of potential Pfizer bid
Shares of Bristol-Myers (BMY) are up in early trading amid chatter of a potential takeover bid from Pfizer (PFE). The stock is up $1.26 to $60.15. Bristol's market capitalization stands around $99B, less than twice that of Pfizer's $200B. A Jefferies analyst last week called Mylan (MYL) the most likely takeover target for Pfizer. Pfizer is "highly motivated" to buy a foreign company using its overseas cash and Mylan looks like the most likely target, Jefferies analyst Jeffrey Holford wrote.
07:54 EDTTEVALannett names Michael Bogda as president, effective December 1
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06:21 EDTMUDRAMeXchange: DRAM spot prices hit 7-month low, DigiTimes says
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06:01 EDTTTechNet: Combined AT&T/DirecTV will increase broadband development
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06:00 EDTMUMicron management to meet with Wedbush
Meeting to be held in New York on December 8 hosted by Wedbush.
December 4, 2014
10:32 EDTTEVATeva receives positive outcomes in Europe for three-times-a-week COPAXONE
Teva Pharmaceutical Industries announced that it has received a positive outcome in the decentralized procedure for its new, three-times-a-week COPAXONE 40 mg/ml formulation for the treatment of adults with relapsing forms of multiple sclerosis RMS. The outcome follows a Positive Assessment Report from the United Kingdom, the Reference Member State’s Medicines and Healthcare Products Regulatory Agency, and all Concerned Member States in Europe who were involved in the procedure. Granting of national authorizations will happen in the near future. The three-times-a-week COPAXONE 40 mg/ml formulation will allow for an improved, less-frequent, subcutaneous dosing regimen for adults with RMS. The new formulation reduces the total number of injections by almost 60%, while maintaining the known benefits of once daily COPAXONE 20 mg/ml. “We welcome the opportunity to make COPAXONE 40 mg/ml available to patients with RMS in Europe,” said Rob Koremans, MD, President and CEO of Global Specialty Medicines at Teva. “Three-times-a-week COPAXONE 40 mg/ml will be available in Europe as early as the first quarter of 2015 with expected launches in Germany, Netherlands and Denmark. Launches in other EU countries are expected throughout 2015.”
10:03 EDTMYLMylan receives tentative FDA approval for abacavir/lamivudine NDAs
Mylan announced that its subsidiary Mylan Laboratories has received tentative approval from the FDA for its New Drug Applications for two dosages of abacavir/lamivudine tablets for oral suspension for the treatment of HIV-1 infection in pediatric patients. This is the first version of abacavir/lamivudine with scoring to allow for dose adjustment and is also flavored, Mylan said. The FDA's tentative approval through the President's Emergency Plan for AIDS Relief program means the formulations meet all of the agency's quality, safety and efficacy standards, it stated. The tentative approval follows a 2012 agreement between Mylan, Clinton Health Access Initiative and ViiV Healthcare to transfer the necessary technology and resources to facilitate regulatory authority submission, production and distribution of the new formulation to a total of 115 resource limited countries including all low-middle income, least developed countries and sub-Saharan Africa. Mylan's products are expected to be eligible for purchase in early 2015.
06:25 EDTMUPowertech Technology and Micron announce agreement for services in China
Powertech Technology and Micron Technology announced that they have entered into a series of agreements forming the basis of a long-term strategic relationship for assembly and packaging services in Xi'an, China. Under the agreements, Micron will complement its existing test and module manufacturing operations in the Xi'an High Tech Zone through the construction of a new assembly and packaging facility. Upon its completion, PTI will occupy the assembly facility and provide Micron with assembly and packaging services for a period of several years. Reference Link
05:30 EDTTEVACTI BioPharma receives $15M payment from Teva for TRISENOX
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