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Stock Market & Financial Investment News

News Breaks
February 19, 2014
08:49 EDTFB, TWTR, TGT, AAPL, BBRY, BX, NVS, BAC, AIG, GIS, ACT, NFLX, SSNLF, IDCC, QCOM, TOn the Fly: Periodicals Wrap
WSJ: AT&T (T) discloses national security requests for thousands of accounts...China acknowledges anti-monopoly probe of Qualcomm (QCOM), InterDigital (IDCC)...Samsung (SSNLF) sees mix of hardware, software for distribution platform...Netflix (NFLX) faces video slowdown as broadband fee issues debated...Actavis (ACT) expected to seek more deals...REUTERS: General Mills (GIS) seeks deals in fast growing emerging markets...AIG (AIG) accused of holding BofA (BAC) $8.5B settlement 'hostage'...Novartis (NVS) Tokyo unit raided by prosecutors...BLOOMBERG: Blackstone (BX) acquires minority stake in Senator Investment Group...BlackBerry (BBRY) CEO blasts T-Mobile for pushing change to iPhones (AAPL)...OTHER NEWS: Banks' cost for Target (TGT) data breach over $200M, AP reports...Twitter (TWTR) could look to follow Facebook (FB) as app distribution platform, Re/code reports.
News For T;QCOM;IDCC;SSNLF;NFLX;ACT;GIS;AIG;BAC;NVS;BX;BBRY;AAPL;TGT;TWTR;FB From The Last 14 Days
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October 6, 2014
09:37 EDTTWTR, AAPL, NFLX, BACActive equity options trading on open
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08:56 EDTFBFacebook's shuttle bus drivers look to join union, NY Times reports
Facebook shuttle bus drivers, complaining of grueling 15-hour workdays, are seeking representation by the Teamsters union, the New York Times reports. Reference Link
08:36 EDTAIGOaktree Capital names Wintrob CEO
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08:27 EDTSSNLFMicron lower in pre-market after Samsung plant plans confirmed
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08:07 EDTACTSalix slips in pre-market trade after Actavis strikes deal for Durata
Note that Bloomberg reported on October 2, citing people with knowledge of the matter, that Salix Pharmaceuticals (SLXP) was discussing selling itself to Actavis (ACT) after failing to reach a deal with Allergan (AGN). Actavis announced this morning that it has reached a deal to acquire Durata Therapeutics (DRTX) for $675M, or $23.00 per share. In pre-market trading, shares of Salix are down nearly 2% to $150 per share.
08:05 EDTACTActavis to acquire Durata Therapeutics for $23.00 per share or $675M
Actavis (ACT) and Durata Therapeutics (DRTX) announced that they have entered into a definitive merger agreement under which a subsidiary of Actavis will commence a tender offer to acquire all of the outstanding shares of Durata common stock for $23.00 per share in cash, or approximately $675M in the aggregate, and contingent value rights entitling the holder to receive additional cash payments of up to $5.00 per share if certain regulatory or commercial milestones related to Durata's lead product DALVANCETM are achieved. Actavis expects the acquisition to be accretive by the end of the first year. DALVANCETM was approved by the FDA on May 23, 2014 and was the first drug approved as a Qualified Infectious Disease Product. A Marketing Authorization Application for dalbavancin is under review with the European Medicines Agency, with a decision anticipated in the first half of 2015. A single-dose regimen of DALVANCETM is also in late-stage development for ABSSSI, with a supplemental New Drug Application filing expected by mid-2015. Durata also has plans to continue the development of DALVANCETM for additional indications, such as hospitalized community-acquired pneumonia and pediatric osteomyelitis. Under the terms of the definitive merger agreement, it is anticipated that Actavis will promptly commence the cash tender offer to purchase all of the outstanding shares of Durata common stock for $23.00 per share in cash, plus CVRs of up to an additional $5.00 per share in the event certain developmental or commercial milestones are met. If DALVANCETM is approved in Europe for ABSSSI, holders of the CVR will receive $1.00 per share. If DALVANCETM is approved for single dose administration by the FDA, holders of the CVR will receive $1.00 per share. If a net global DALVANCETM revenue threshold is met over a designated time period, holders of the CVR will receive $3.00 per share.
08:04 EDTNVSBristol-Myers announces Opdivo clinical trial with Novartis therapies
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08:04 EDTACTActavis to acquire Durata Therapeutics for $23.00 per share or $675M
07:42 EDTAAPLSkyworks well positioned to benefit from iPhone upgrade cycle, says Canaccord
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07:34 EDTAAPLApple updates software to protect against iWorm bug, MacRumors reports
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07:29 EDTBACHead of NYDFS reaching out to banks in wake of JPMorgan breach, FT says
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07:16 EDTAAPLiOS 8 adoption appear slower than its predecessors, 9to5Mac reports
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07:13 EDTTGTMobile Marketing & Technology Magazine to hold a conference
Mobile Payments Conference is being held in Chicago on October 6-8.
07:09 EDTTAmerican Trucking Association to hold a conference
2014 ATA Management Conference is being held in San Diego on October 4-7.
06:43 EDTFBFacebook has obtained $2B in legal judgments against spammers
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06:40 EDTFBHackers discover Facebook experimenting with Messenger payments, TechCrunch says
Hackers have discovered that Facebook is experimenting with payments in its Messenger app, TechCrunch reports. It is unclear whether Facebook will monetize Messenger by charging a small fee for money transfers, or would offer the functionality for free to drive usage of the standalone Messenger app. Reference Link
06:27 EDTBACJPMorgan hackers hit about nine other firms, NY Times says
The group of hackers that infiltrated JPMorgan (JPM) also penetrated about nine other financial institutions, according to The New York Times. Washington intelligence officials and policy makers are much more concerned about the attacks than they have disclosed, the newspaper added. Other publicly traded large banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Publicly traded cybersecurity companies include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC).Reference Link
06:25 EDTAAPLiPhone 6 chip orders to remain high in 1Q15, DigiTimes reports
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06:23 EDTSSNLFSamsung plans to invest $14.7B in new South Korean chip plant, WSJ reports
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05:14 EDTNVSNovartis announce clinical collaboration with Bristol-Myers
Novartis (NVS) announced that it has entered into a clinical collaboration with Bristol-Myers Squibb (BMY) to evaluate the safety, tolerability and preliminary efficacy of three molecularly targeted compounds in combination with Bristol-Myers Squibb's investigational PD-1 immune checkpoint inhibitor, Opdivo, in Phase I/II trials of patients with non-small cell lung cancer, or NSCLC. Both studies will be conducted by Novartis. One trial will evaluate the combination of Opdivo with Zykadia, an FDA-approved treatment for patients with anaplastic lymphoma kinase-positive metastatic NSCLC who have progressed on or are intolerant to crizotinib. A second study will investigate Opdivo with INC280, a potent and highly selective inhibitor of c-MET receptor tyrosine kinase, and separately with EGF816, a potent, third-generation EGFR tyrosine kinase inhibitor that is active against T790 mutations. INC280 and EGF816 are currently being investigated in various Phase I/II NSCLC trials. Additional details of the collaboration were not disclosed.
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