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Stock Market & Financial Investment News

News Breaks
April 7, 2014
04:55 EDTTLOG, TLOG, TLOG, TLOG, TLOG, AG, AG, AG, AG, AG, FMI, FMI, FMI, FMI, FMI, NLNK, NLNK, NLNK, NLNK, NLNK, TSRO, TSRO, TSRO, TSRO, TSRO, FPRX, FPRX, FPRX, FPRX, FPRX, SNSS, SNSS, SNSS, SNSS, SNSS, TROV, TROV, TROV, TROV, TROV, AZN, AZN, AZN, AZN, AZN, MRK, MRK, MRK, MRK, MRK, PFE, PFE, PFE, PFE, PFE, NVS, NVS, NVS, NVS, NVS, PPHM, PPHM, PPHM, PPHM, PPHMAmerican Association of Cancer Research to hold annual meeting
2014 Annual Meeting 2014 is being held in San Diego, California on April 5-9.
News For TLOG;NVS;PFE;MRK;AZN;TROV;SNSS;FPRX;TSRO;NLNK;FMI;AG;PPHM From The Last 14 Days
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August 21, 2015
05:44 EDTMRKStocks with implied volatility movement; DIS MRK
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05:25 EDTNVSNovartis acquires all remaining rights to Ofatumumab from GSK
Novartis (NVS) announced that it has entered into an agreement to acquire all remaining rights to Ofatumumab from GlaxoSmithKline (GSK). Ofatumumab, a fully human monoclonal antibody which targets CD20, is being developed for relapsing remitting multiple sclerosis, or RRMS, and other autoimmune indications. Novartis previously acquired the rights to Ofatumumab for oncology indications and it is marketed under the brand name Arzerra. Novartis will be responsible for the worldwide development, regulatory and commercialization activities for Ofatumumab. Under the terms of the agreement, Novartis will make an initial upfront payment of $300M to GSK for the acquisition of the compound and a further payment of $200M payable following the start of a phase III study in MS by Novartis. Upon completion of pre-determined milestones, contingent payments of up to $534M may be made. Novartis will also pay royalties of up to 12% to GSK on any future net sales of Ofatumumab in autoimmune conditions.
August 20, 2015
11:33 EDTAZN, MRKLeerink major pharmaceuticals analyst holds an analyst/industry conference call
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11:24 EDTPFEPfizer says Ibrance application validated by EMA
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09:23 EDTAZNAdvaxis, MedImmune begin enrollment in axalimogene filolisbac Phase I/II study
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08:38 EDTMRKMerck says to present new analyses from IMPROVE-IT study
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05:48 EDTTSROMizuho keeps TESARO, Verastem, OncoMed as top biotech picks
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05:29 EDTNVSNovartis Odomzo gains EU approval for laBCC
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August 19, 2015
07:22 EDTTSROCitigroup to hold a conference
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August 18, 2015
12:13 EDTMRKMerck recalls Temodar, Temozolomide bottles with cracked caps
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09:19 EDTNVSPiper Jaffray biopharma analyst holds an analyst/industry conference call
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08:03 EDTMRKMerck says FDA accepts sBLA for Keytruda
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August 17, 2015
13:30 EDTNVSOn The Fly: Top stock stories at midday
Stocks began the session deep in negative territory after a disappointing Empire Manufacturing report. The data got the market off to a weak start as optimism over last week's finish began to fade. The averages continued to drift in a narrow range for the opening hour before reversing and capturing the opening losses. Each of the major equity indices is now back in positive territory sporting slight gains across the board. ECONOMIC EVENTS: In the U.S., the Empire State manufacturing index plunged to -14.92 in August after rebounding to 3.86 in July from June's -1.98. The consensus estimate was 4.75, and the surprising drop puts the index at its lowest point since April 2009. The employment component slid to 1.82, while new orders crashed to -15.70. Meanwhile, the U.S. NAHB homebuilder sentiment index rose to 61 in August from 60 in June and and is the highest since November 2005. The single family sales index edged up to 66 versus a revised 65 last month, while the index of prospective buyer traffic improved to 45 versus 43 previously. In Europe, various Eurozone parliaments prepare to vote on Greece's new EUR86B bailout plan this week. COMPANY NEWS: Liberty Interactive (QVCA) announced this morning an agreement to acquire zulily (ZU) for $18.75 per share in a deal valuing the online shopping site at $2.4B, driving zulily shares up more than 47% in intraday trading. The acquisition will be attributed to Liberty's QVC Group tracking stock, though QVC and zulily will be operated as separate consumer facing brands. On a conference call discussing the acquisition, Liberty Interactive executives noted that the "highly efficient" deal will allow Liberty to reach a younger base. MAJOR MOVERS: Among the notable gainers AVEO Oncology (AVEO), which rose roughly 50% after announcing a license agreement with Novartis (NVS) for the development and commercialization of AVEO's AV-380 drug and related antibodies. Also higher was Kite Pharma (KITE), which advanced roughly 5.4% after clarifying that an earlier patient death in its Phase 1/2 KTE-C19 trial for non-Hodgkin's lymphoma was unrelated to Kite's therapy. Additionally, shares of Target (TGT) have gained roughly 10c despite lingering in negative territory early Monday after the company promoted CFO John Mulligan to the newly created role of EVP and COO and appointed Cathy Smith as EVP and CFO. Prior to joining Target, Smith served as EVP and CFO at St. Louis-based Express Scripts (ESRX). Among the noteworthy losers was KKR (KKR), which lost roughly 2.4% after Samson Resources announced a restructuring agreement late Friday, adding that it expects to file for bankruptcy within 30 days. Also lower was Estee Lauder (EL), which declined nearly 6.5% after its quarterly guidance missed analysts' estimates. INDEXES: Near midday, The Dow was up 65.11, or 0.37%, to 17,542.51, the Nasdaq gained 34.73, or 0.69%, to 5,082.96, and the S&P 500 advanced 8.80, or 0.42%, to 2,101.03.
06:01 EDTNVSAVEO Oncology announces license agreement with Novartis
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August 14, 2015
10:15 EDTTROVOn The Fly: Analyst Initiation Summary
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08:36 EDTPFEPfizer's pending Hospira acquisition approved by Canadian Competition Bureau
Pfizer (PFE) announced that it received approval from the Canadian Competition Bureau with respect to its pending acquisition of Hospira (HSP). As part of its agreement with the Canadian Competition Bureau, Pfizer has committed to divest certain assets in Canada. "We are pleased the Canadian Competition Bureau concluded its review of the transaction and approved the pending combination of Pfizer and Hospira," said Ian Read, chairman and CEO of Pfizer. "We continue to work cooperatively with the regulatory agencies to obtain the requisite approvals, and continue to expect the transaction to close in the second half of 2015."
08:35 EDTPFEHayman takes Mylan, Perrigo stakes, boasts exposure to energy
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08:26 EDTPFEPiper says Street $4B too low on Pfizer 2019 sales estimates
Piper Jaffray analyst Richard Purkiss believes the Street is underestimating Pfizer's 2019 sales by $4B. The consensus 2019 revenue estimate is $58.7B. Analysts are factoring in "overly conservative" growth assumptions for five of Pfizer's key brands, namely Prevnar, Ibrance, Xeljanz, Eliquis and Lyrica, Purkiss tells investors in a research note. Sentiment towards the stock will "improve meaningfully" as investors "wake up" to the sales turnaround from 2015, the analyst believes. Purkiss expects Pfizer's 36% discount to his $48 target price to close as sentiment improves and reiterates an Overweight rating on the pharma giant. The stock end yesterday's trading down 1c to $35.36.
08:01 EDTTROVTrovagene initiated with an Outperform at Leerink
Leerink analyst Dan Leonard started shares of Trovagene with an Outperform rating and $9 price target. The company is an early stage pure play in the cancer liquid biopsy market, which has the potential to be the largest in molecular diagnostics, Leonard tells investors in an analyst note.
07:02 EDTNVSPrima BioMed announces commencement of milestones for IMP701 program
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