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Stock Market & Financial Investment News

News Breaks
July 23, 2014
10:45 EDTTEVA, TEVA, HSP, HSP, VRX, VRX, MYL, MYL, ENDP, ENDP, PRGO, PRGO, ACT, ACT, JAZZ, JAZZ, MNK, MNK, SLXP, SLXPDeutsche Bank hosts an analyst Specialty Pharma/Industry conference call
Analyst will discuss his initiation of coverage of Specialty Pharmaceuticals on a conference call on July 23 at 11 am. Tickers to be discussed include TEVA, MNK, JAZZ, ACT, PRGO, ENDP, MYL, VRX, HSP, SLXP.
News For TEVA;MNK;JAZZ;ACT;PRGO;ENDP;MYL;VRX;HSP;SLXP From The Last 14 Days
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February 1, 2016
08:51 EDTMNKThe Medicines Co. completes divestiture of hemostasis portfolio to Mallinckrodt
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08:04 EDTTEVA, MYLTeva Mylan not seeing same negative trends as Sandoz, says Bernstein
After Novartis (NVS) reported weak results for its generics unit, Sandoz, and blamed it on industry trends, Bernstein quotes Mylan (MYL) and Teva (TEVA) as saying that they are seeing only "slight adjustments back to normal levels" from "mildly favorable" results in 2014 and 2015. Bernstein says that Sandoz has lost a number of fairly profitable products and has had fewer approvals than its peers. Bernstein keeps Outperform ratings on Teva and Mylan.
January 29, 2016
10:13 EDTVRXExpress Scripts to exclude Valeant's Glumetza from formulary
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06:55 EDTJAZZ2016 could be pivotal year for Jazz, says Deutsche Bank
Deutsche Bank analyst Gregg Gilbert says 2016 could be a pivotal year for Jazz Pharmaceuticals. The analyst sees several potential catalysts for the shares, including potentially greater certainty on Xyrem duration via a patent settlement or a win in court, FDA approval of defibrotide and acquisitions supported by the company's under-leveraged balance sheet. Gilbert keeps a Buy rating on Jazz with a $167 price target.
05:33 EDTVRXStocks with implied volatility movement; VRX MRK
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January 28, 2016
16:40 EDTTEVAOn The Fly: Top stock stories for Thursday
The Dow began the session with triple digit gains thanks in part to solid earnings reports from some of America's bellwether corporations and oil prices, which approached $34 a barrel. The market was unable to hold its opening gains and eventually crossed into negative territory. Before the losses became too big the averages reversed and moved back across the flat line. With oil holding onto its gains and closing above $33 a barrel, the averages closed in positive territory ahead of the next barrage of earnings reports. ECONOMIC EVENTS: In the U.S., initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The National Association of Realtors' pending home sales index for December rose 0.1%, versus expectations for it to be up 0.9%. COMPANY NEWS: Shares of Facebook (FB) surged 15.5% to $109.11 after the social media giant's fourth quarter earnings and revenue beat expectations. A number of Wall Street analysts increased their price targets for the stock following the report, including Piper Jaffray's Gene Munster, who hiked his target to a "Street-high" $170 per share. Facebook management made only one mention of macro concerns for the business in 2016, significantly different than Apple's (AAPL) earnings call on Tuesday night, Munster pointed out... Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded 4.7% to $61.08 after the company jumped over the lowered bar that had been set by bearish analysts... Under Armour (UA), which had similarly been the focus of concern recently for some bearish analysts, posted better than expected results on the top and bottom line and backed its fiscal year revenue forecast, proving its doubters wrong and sending its share rocketing up 22.5% to $84.00. MAJOR MOVERS: Among the notable gainers were Intrexon (XON), Inovio (INO) and Cerus (CERS), which gained a respective 10%, 7.6% and 1.4% as the ongoing Zika virus scare brought attention to the companies' efforts fighting the illness. Also higher were SolarCity (SCTY), Sunrun (RUN) and Vivint Solar (VSLR), with the solar stocks jumping 8.5%, 20.5% and 3.6%, respectively, after the California Public Utilities Commission approved new net-metering rules. Meanwhile, Eagle Pharmaceuticals (EGRX) rose 12.2% to $74.44 after announcing commercial availability of its Bendeka injection in partnership with Teva (TEVA). Among the noteworthy losers was Yahoo (YHOO), which lost 3.2% to $28.75 despite a pre-market spike after SpringOwl Asset Management urged the company to seek an investment from a strategic partner. The news was also followed by reports that CEO Marissa Mayer has started restructuring efforts with an "invest/maintain/kill" list, as well as news that Verizon (VZ) denied a report that it had bid for the company's core Internet business. Also lower were OSI Systems (OSIS), Qualcomm (QCOM) and eBay (EBAY), which fell a respective 31.8%, 8.3% and 12.5% following their quarterly earnings reports. INDEXES: The Dow rose 125.18, or 0.79%, to 16,069.64, the Nasdaq gained 38.51, or 0.86%, to 4,506.68, and the S&P 500 advanced 10.41, or 0.55%, to 1,893.36.
15:49 EDTVRXValeant comments by Hillary Clinton not new, says Evercore ISI
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15:42 EDTVRXValeant volatility increases after accused by Clinton of 'predatory pricing'
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15:34 EDTVRXValeant accused by Clinton of 'predatory pricing'
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11:16 EDTTEVATeva and Eagle Pharmaceuticals announce commercial availability of Bendeka
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January 27, 2016
12:19 EDTTEVAPiper Jaffray biopharma analyst holds an analyst/industry conference call
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January 26, 2016
18:37 EDTVRXPershing Square says not selling Valeant a 'very costly mistake'
In its Annual Investor Letter, Pershing Square said, in part, that not selling Valeant (VRX) was a "very costly mistake." It also noted that not trimming its Canadian Pacific (CP) stake was a "similar error," and that they paid too much for additional stock in Platform Specialty Products (PAH). Reference Link
12:19 EDTENDPEndo call activity attributed to takeover speculation
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12:12 EDTPRGO, ENDPEndo spike attributed to takeover speculation
The midday spike in shares of Endo International (ENDP) is being attributed to takeover speculation. Conjecture has Perrigo (PRGO) interested in a potential acquisition of Endo, trading sources tell The Fly. Shares of Endo are up $1.26 to $59.10 in midday trading. The Fly, in fulfilling its mission of explaining stock movement, often comes across the many unconfirmed rumors being passed through trading desks and social media platforms. On the occasion that rumors or speculation appear on The Fly's news feed, it should be viewed not as giving credence to the conjecture, rather as simply highlighting its impact on the stock prices of the companies involved.
January 25, 2016
16:14 EDTVRXOn The Fly: Top stock stories for Monday
Stocks began the session in negative territory and remained there throughout the day. The market has yet to de-couple from oil prices, as stocks continue to move in the direction of the commodity. The averages almost made it back to positive ground in the early afternoon, but with oil down more than 4% the sellers emerged and pushed the market toward session lows. The market continued to lose ground as oil fell further, giving up nearly 6% by the close on the New York Mercantile Exchange, bringing stocks' two day win streak to an end. ECONOMIC EVENTS: In the U.S., the economic calendar was light. The Dallas Fed manufacturing survey, the lone report of note, came in at -34.6, below the revised prior reading of -21.6 and short of the consensus -14.5 forecast. West Texas Intermediate for March delivery fell $1.85, or 5.8%, to close at $30.34 a barrel on the NYMEX. COMPANY NEWS: Shares of McDonald's (MCD) advanced 0.7% to $119.20 after the fast food giant reported better than expected earnings and comparable sales growth for the fourth quarter, powered by the launch of All Day Breakfast in the U.S... Twitter (TWTR) fell 4.6% to $17.02 after CEO Jack Dorsey confirmed on Sunday night the departure of four company executives, leading research firm Stifel to downgrade the shares... Tyco (TYC) jumped 11.6% to $34.15 after reaching a merger agreement with Johnson Controls (JCI) which will see Johnson shareholders owning 56% of the combined company's equity. Johnson Controls fell 3.9% to $34.21 following the merger announcement. MAJOR MOVERS: Among the notable gainers was Valeant (VRX), which rose 4.55% to $92.63 after hospitalized CEO Michael Pearson said he is "on the road to recovery" after a bout of pneumonia. The news was followed by announcements that Valeant has sold three of its skincare brands and received FDA acceptance of its biologics license application for psoriasis drug Brodalumab. Also higher was SunEdison (SUNE), which advanced 2.6% to $2.72 after the Wall Street Journal reported that the company is set to give David Einhorn's Greenlight Capital a seat on its board. Meanwhile, energy savings firm EnerNOC (ENOC) jumped 69.5% to $7.05 after the Supreme Court ruled in favor of FERC's so-called "demand response" rule, sending energy generators Dynegy (DYN) and Talen Energy (TLN) down a respective 11.6% and 6.2%. Among the noteworthy losers was OncoMed (OMED), which plunged 42.9% to $10.04 after its Phase 2 trial of tarextumab in pancreatic cancer showed futility in an interim analysis. Also lower were containerboard and paper makers KapStone (KS), WestRock (WRK) and Packaging Corp (PKG), which dropped about 21%, 15% and 13%, respectively, after an industry publication reported that prices in the sector had declined. Additionally, Caterpillar (CAT) was the Dow's biggest decliner Monday, sinking 5% to $57.90 after being downgraded to Sell at Goldman Sachs. INDEXES: The Dow fell 208.29, or 1.29%, to 15,885.22, the Nasdaq lost 72.69, or 1.58%, to 4,518.49, and the S&P 500 declined 29.82, or 1.56%, to 1,877.08.
11:30 EDTVRXINTEGA buys three medical skincare brands from Valeant Canada
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08:31 EDTPRGOPerrigo completes acquisition of generic Retin-A from Matawan
Perrigo announced that it has completed the previously announced acquisition of a portfolio of generic dosage forms and strengths of Retin-A from Matawan Pharmaceuticals. Perrigo was the authorized generic distributor of these products from 2005 to 2013 before the agreement was terminated. Generic and brand sales of Retin-A, which is indicated for the topical treatment of acne vulgaris, were approximately $290M for the 12 months ending November 2015.The transaction is expected to immediately exceed Perrigo's ROIC threshold and add more than 20c in adjusted EPS within the first 12 months post-close after the exclusion of estimates for intangible amortization, transaction costs and integration related expenses. Perrigo Chairman and CEO Joseph C. Papa commented, "We are excited to complete this transaction; bringing a high barrier-to-entry, margin-enhancing product and greater reach to the extended topicals portfolio. This acquisition further strengthens Perrigo's strategic position as we continue our mission of providing Quality Affordable Healthcare Products(R) to consumers around the world."
08:12 EDTVRXValeant announces FDA acceptance of BLA submission for Brodalumab
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07:12 EDTVRXValeant releases memo for employees from Michael Pearson
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January 22, 2016
11:14 EDTPRGORumor: Perrigo moves up amid speculation it canceled a sell side conference
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