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Stock Market & Financial Investment News

News Breaks
August 1, 2014
16:51 EDTGLW, BYI, FDO, S, PEP, ALL, GPRO, UPS, TRLA, DLTR, TMUS, TGT, PG, GRMN, SGMS, Z, TWTR, WMT, AMGN, EXPEMarket finishes week lower as Fed, geopolitical worries weigh
Stocks ended the week lower amid worries about the Fed tightening sooner than expected and continued geopolitical uncertainty. MACRO NEWS: In a statement released following their latest meeting, the Federal Open Market Committee said that "the likelihood of inflation running persistently below 2% has diminished somewhat." Meanwhile, the employment cost index jumped 0.7% in the second quarter, it was reported on Thursday. Wages and salaries rose 0.6% in Q2, according to the report. Following the release of the index and the Fed's statement, investors worried that the central bank could start tightening monetary policy sooner than expected. The Commerce Department estimated that U.S. Gross Domestic Product grew at a seasonally adjusted annual rate of 4.0% in the second quarter, easily beating expectations for a growth rate of 3.0%. Non-farm payrolls rose 209K in July, missing the 230K forecast. Other U.S. economic data was largely upbeat, as two consumer confidence indexes for July and weekly jobless claims were all better than expected... In overseas news, China's official purchasing managers' index reached its highest level in 27 months in July, beating expectations by a small amount. Argentina failed to head off its second default in the past 13 years, sending its stock and bond markets sharply lower and causing ripples throughout global debt and equity markets. The U.S. and EU leveled new, tougher sanctions against Russia, leading to concerns that Moscow's struggle with the West could intensify. Meanwhile, Israel continued to battle Hamas. COMPANY NEWS: Among the noteworthy companies that fell after reporting their results were shipping giant UPS (UPS), glass maker Corning (GLW), navigation device specialist Garmin (GRMN) and newly-listed action camera maker GoPro (GPRO). On the other other side of the coin, Twitter (TWTR), Expedia (EXPE), Procter & Gamble (PG), Allstate (ALL), and Amgen (AMGN) were among the companies whose stocks rose in the wake of their earnings reports... The M&A news flow continued to be strong, as Dollar Tree (DLTR) agreed to buy Family Dollar (FDO) and real estate website operator Trulia (TRLA) agreed to be acquired by its peer Zillow (Z) and casino equipment maker Bally Technologies (BYI) agreed to be acquired by Scientific Games (SGMS). Meanwhile, France's Iliad (ILIAF) confirmed that it had offered $15B in cash for a 56.6% stake in T-Mobile US (TMUS) for $33 per share for $83.30 per share, which negatively impacted the stock of Sprint (S), which has been widely viewed as on track to buy T-Mobile as the two seek to grow and better challenge the number one and two mobile carriers in the U.S., Verizon (VZ) and AT&T (T)... Target Corporation (TGT) announced that its Board of Directors had named Brian Cornell as the company's next chairman of the Board of Directors and CEO, effective August 12. Cornell most recently served as the CEO of PepsiCo Americas Foods (PEP) where he oversaw Pepsi's global food business. Before joining PepsiCo in 2012, Cornell served as president and CEO of Sam's Club, a division of Wal-Mart (WMT). INDEXES: The Dow dropped 2.75% to 16,493.37, the S&P 500 fell 2.16% to 1,925.15, and the Nasdaq declined 2.69% to 4,352.64.
News For TMUS;S;TWTR;DLTR;FDO;Z;TRLA;BYI;SGMS;UPS;GLW;GRMN;GPRO;EXPE;PG;ALL;AMGN;TGT;PEP;WMT From The Last 14 Days
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December 8, 2014
07:32 EDTGPRORaymond James to hold a conference
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07:28 EDTGPROFBN Securities to hold a bus tour
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06:00 EDTTWTRTwitter's former head of product leaving company, Re/code reports
Daniel Graf, who was replaced by Kevin Weil as head of product last month, is leaving the company, Re/code reports. Reference Link
05:42 EDTAMGNSandoz Phase III data shows filgrastim has similar safety, efficacy as NEUPOGEN
Sandoz, a Novartis (NVS) company, announced Phase III data that demonstrated similarity of its investigational biosimilar filgrastim compared to the US-licensed reference product, Amgen's (AMGN) NEUPOGEN in the prevention of severe neutropenia in patients with breast cancer receiving neoadjuvant myelosuppressive chemotherapy. The study also showed that repeated switching at each cycle between the investigational biosimilar and the originator filgrastim showed no impact on efficacy, safety or immunogenicity. The PIONEER study was a Phase III study designed to compare the efficacy and safety of the investigational biosimilar and the reference product with respect to mean duration of severe neutropenia following Cycle 1 chemotherapy. PIONEER was a randomized, double-blind, four-group, multi-center non-inferiority trial conducted at 27 centers. The trial randomized 218 breast cancer patients receiving neoadjuvant myelosuppressive chemotherapy.
December 7, 2014
14:38 EDTAMGNAmgen announces new data from Phase 2 BLINCYTO immunotherapy study
Amgen announced new data from the Phase 2 BLAST study which evaluated the bispecific T cell engager, BiTE, immunotherapy BLINCYTO in patients with minimal residual disease, MRD, positive B-cell precursor acute lymphoblastic leukemia, ALL. In the study, 78% of patients who received BLINCYTO experienced a complete MRD response , a measure of eradication of residual disease at the molecular level, after one treatment cycle. Nearly all complete responses occurred within the first treatment cycle. The results from the BLAST study will be featured during the 56th American Society of Hematology Annual Meeting and Exposition press briefing on Saturday, December 6, at 10 a.m. PT and will be presented in an oral session at ASH on Monday, December 8, at 10:30 a.m. PT. "BLINCYTO is the most advanced of Amgen's BiTE immunotherapies, a new and innovative approach that helps the body's own immune system fight cancer," said Sean E. Harper, M.D., executive vice president of Research and Development at Amgen. "Achieving molecular complete remission is an important goal in the treatment of ALL, and the data presented at ASH demonstrates that BLINCYTO can produce deep responses in patients that have trace amounts of residual disease." MRD is a state of disease in which the microscopic analysis does not show malignant cells, but more sensitive techniques still detect disease at the molecular level. Patients who have persistent or recurrent MRD after their first therapy have a higher risk of relapse than those with no detectable MRD. In addition to the majority of patients achieving a compete MRD response within one cycle of treatment, 80% achieved a complete MRD response across all cycles. Responses occurred in all subgroups including older patients and patients with high MRD level; no predictive factor for MRD response was identified. In the study, adverse events of all grades occurring in 20% or more patients included pyrexia, tremor, chills, fatigue, nausea, vomiting and diarrhea. Grade =3 AEs occurring in five percent or more patients included neutropenia , pyrexia and tremor. Two fatal AEs occurred on treatment: subdural hemorrhage and pneumonitis in conjunction with influenza. Treatment interruptions due to AEs occurred in 31% of patients.
14:18 EDTAMGNAmgen, Onyx announce detailed results from Phase 3 ASPIRE study of Kyprolis
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14:10 EDTAMGNAmerican Society of Hematology to hold a meeting
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December 5, 2014
15:12 EDTWMTBarnes & Noble NOOK said to be potential target for Wal-Mart, Bloomberg reports
Wal-Mart (WMT) is interested in e-books and could target Barnes & Noble's (BKS) NOOK Media, said TheDeal, according to Bloomberg.
12:03 EDTDLTR, FDOFive Below plummets after Q4, FY14 outlooks trail analysts' estimates
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11:23 EDTTWTROption volume leaders
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11:12 EDTGPROAmbarella retreats despite better than expected results
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10:59 EDTGPROStocks with call strike movement; SDRL GPRO
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10:03 EDTFDO, DLTRFamily Dollar sees Dollar General needing to divest over 3.4K stores, CNBC says
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10:00 EDTPEPOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Acorda Therapeutics (ACOR) initiated with a Neutral at Goldman... Builders FirstSource (BLDR) initiated with a Neutral at Sterne Agee... CSI Compressco (CCLP) initiated with a Buy at Stifel... California Resources Corp. (CRC) initiated with a Market Perform at Raymond James... Castlight Health (CSLT) initiated with an Equal Weight at First Analysis... DCP Midstream (DPM) initiated with a Buy at MLV & Co.... DSP Group (DSPG) initiated with an Outperform at Imperial Capital... Edwards Lifesciences (EW) initiated with an Outperform at Bernstein... EnLink Midstream (ENLK) initiated with a Buy at MLV & Co.... Facebook (FB) initiated with a Buy at MKM Partners... FireEye (FEYE) initiated with a Market Perform at JMP Securities... FleetCor (FLT) initiated with a Buy at Deutsche Bank... Imperva (IMPV) initiated with a Buy at Nomura... Keryx (KERX) initiated with an Outperform at Cowen... Knowles (KN) initiated with a Market Perform at FBR Capital... Marlin Midstream (FISH) initiated with a Buy at MLV & Co.... Paragon Offshore (PGN) initiated with a Sector Perform at Iberia... PepsiCo (PEP) initiated with a Buy at Evercore ISI... Proofpoint (PFPT) initiated with a Buy at Nomura... Relypsa (RLYP) initiated with an Outperform at Oppenheimer... Rocket Fuel (FUEL) initiated with a Sell at Maxim... Sprouts Farmers Markets (SFM) initiated with an Underperform at Longbow... Summit Midstream (SMLP) initiated with a Buy at MLV & Co.... TubeMogul (TUBE) initiated with a Buy at Maxim... Western Gas Partners (WES) initiated with a Buy at MLV & Co.
09:19 EDTWMT, FDO, DLTRDollar General says remains committed to purchase of Family Dollar
Dollar General Corporation (DG) issued the following statement in response to comments made by Dollar Tree (DLTR) regarding its view of potential store divestitures that may be required by the FTC in either a Dollar Tree/Family Dollar Stores (FDO) or a Dollar General/Family Dollar combination. Dollar General’s documents and data tell a very different story from that contained in the press release issued today by Dollar Tree. As Dollar General previously has stated, Walmart (WMT), not Family Dollar, is the primary driver regarding Dollar General’s strategic pricing decisions, and more than 90% of Dollar General’s SKUs are nationally priced. Dollar General is confident that its approach to strategic and pricing decisions is both correct and superior to that of Family Dollar and Dollar General has no intention of adopting a flawed strategy -- either now or after an acquisition of Family Dollar -- that it believes would impair its ability to compete with Walmart and lead to inferior financial performance. Dollar General is actively engaged in discussions with the FTC regarding the extent of potential divestitures that would be required in connection with an acquisition of Family Dollar and has been making good progress. Over the past few weeks, Dollar General has provided the FTC with tens of thousands of documents supporting the above facts and its broad view of competition. There is no reason to believe that the FTC would take into account only Family Dollar’s documents and data or afford them greater significance than Dollar General's own evidence. As stated in Dollar General's press release of December 4, Dollar General will continue to work with the FTC and expects to provide an update in sufficient time to allow Family Dollar shareholders to review such information prior to the Family Dollar shareholders’ meeting now scheduled for December 23.
08:55 EDTTWTRYahoo seen overtaking Twitter in U.S. mobile ad market share, WSJ reports
Research firm eMarketer predicts Google (GOOG, GOOGL) and Facebook (FB) will account for about 35% and 17%, respectively, of the U.S. mobile ad market in 2015, but the firm also expects Yahoo (YHOO) will edge past Twitter (TWTR) in terms of mobile ad revenue, with projected market shares of 3.74% and 3.69%, respectively, reported The Wall Street Journal. Reference Link
07:12 EDTUPSUPS management to meet with UBS
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06:43 EDTGPROAmbarella results suggest GoPro estimates conservative, says Piper Jaffray
Piper Jaffray believes the "strong" results and outlook from Ambarella (AMBA), a supplier of video compression and image processing semiconductors used in HERO devices, suggest consensus estimates for GoPro's (GPRO) next two quarters are conservative. Piper has a Neutral rating on GoPro with a $90 price target.
06:41 EDTPEPPepsiCo initiated with a Buy at Evercore ISI
Target $115.
06:09 EDTFDO, DLTRDollar Tree provides update on FTC review of pending acquisition of Family Dolla
Dollar Tree (DLTR) announced that it was providing an update regarding the status of the FTC's review of its pending acquisition of Family Dollar (FDO). Dollar Tree and Family Dollar have been actively engaging with the staff of the FTC as they review the pending merger. The company said, "The staff of the FTC is very focused on the discount retail sector (including how Family Dollar’s current pricing rules would impact store prices in a merger transaction) and has indicated that some divestitures will be required for the Pending Merger, which we believe will be no more than our original commitment in the July 27, 2014, Merger Agreement. Dollar Tree will work diligently with the FTC staff over the next few weeks concerning divestitures. Given the relatively small number of divestitures our transaction implicates, Dollar Tree does not expect any such divestiture to have a material impact on its plans for the combined organization. Furthermore, we believe that we will be in a position to complete the financing for the Pending Merger in January 2015 and to complete the Pending Merger as early as February 2015... In connection with its unsolicited tender offer for Family Dollar, Dollar General (DG) continues to refuse to agree to a “hell-or-high-water” commitment. Based on the foregoing concerns regarding the Pending Merger, Dollar Tree believes that the FTC may require divestitures far in excess of the 1,500 stores that Dollar General has offered to divest in its tender offer for Family Dollar... The special meeting of Family Dollar shareholders to vote on the Pending Merger is currently scheduled for December 23, 2014. To facilitate the FTC’s continued review, and in light of the practicalities associated with the transaction, Dollar Tree and Family Dollar have agreed not to close the Pending Merger until January 30, 2015, unless the FTC completes its review of the Pending Merger and terminates the waiting period at an earlier date. Dollar Tree will continue to provide additional information as the special meeting date approaches."
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