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Stock Market & Financial Investment News

News Breaks
April 3, 2012
08:40 EDTMAPP, RHHBY, TSPT, THLD, RIGL, EXELLazard Capital to host a bus tour
Biotech Bus Tour travels throughout San Francisco to visit with various companies on April 2-4.
News For TSPT;THLD;RIGL;EXEL;MAPP;RHHBY From The Last 14 Days
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September 10, 2014
13:04 EDTRHHBYRoche unit receives orphan status for lung cancer mutation drug
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September 9, 2014
11:17 EDTTHLDHigh option volume stocks
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09:12 EDTTHLDOn The Fly: Pre-market Movers
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September 8, 2014
18:31 EDTTHLDOn The Fly: After Hours Movers
UP AFTER EARNINGS: Casey's General Stores (CASY), up 3.6%... Korn/Ferry (KFY), up 2.8%. ALSO HIGHER: Annies (BNNY), up 37.3% after General Mills (GIS) announced it will acquire the company for $46 per share... General Mills is trading just under 1% higher... Following the Annies/General Mills announcement, Hain Celestial Group (HAIN) is 3.6% higher, WhiteWave Foods (WWAV) is up 6.3%, and Boulder Brands (BDBD) is up 8.7%... iPass (IPAS), up 35.1% after announcing that it is exploring strategic alternatives... CTI BioPharma (CTIC), up 8.1% after being initiated with an Overweight at Piper Jaffray... Threshold Pharmaceuticals (THLD), up 5% after being initiated with a Buy at Cantor. DOWN AFTER EARNINGS: Pep Boys (PBY), down 6.7% following second quarter miss. ALSO LOWER: Pinnacle Foods (PF), down 3.7% after filing an automatic common stock shelf and announcing the sale of 15M shares of common stock for holders... Physicians Realty Trust (DOC), down 4.9% after offering 9M common shares.
16:11 EDTTHLDThreshold Pharmaceuticals initiated with a Buy at Cantor
Target $14.
15:58 EDTTHLDThreshold Pharmaceuticals calls active
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07:15 EDTRHHBYIBC Life Sciences to hold a conference
10th Annual Cell Line Development & Engineering Conference to be held in Berkeley, California on September 8-10.
September 5, 2014
13:07 EDTRHHBYRoche has a conference call hosted by JPMorgan
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07:08 EDTTHLDThreshold Pharmaceuticals initiated with a Buy at H.C. Wainwright
Target $12.
September 3, 2014
16:20 EDTRHHBYOn The Fly: Closing Wrap
Stocks on Wall Street began the session in positive territory after Russian President Vladimir Putin said he had an outline for a cease-fire plan for eastern Ukraine and was closing in an agreement. The averages hit their highs shortly after the open and the Nasdaq was the first index to cross into negative territory as it was weighed down by Apple's (AAPL) decline. The market moved in a narrow range as investors anticipated the Fedís Beige Book report, scheduled for release mid-afternoon. The report was fairly benign and the market limped into the close, with volume remaining light. ECONOMIC EVENTS: U.S. factory orders rose 10.5% in July, which was a bit below the forecast for 11.0% growth. The Fed's Beige Book stated that the pace of growth did not change significantly in any of the central bank's 12 regions during a six week period ended in August compared with the previous six week period. COMPANY NEWS: Shares of Apple retreated $4.36, or 4.22%, to $98.94 after research firm Pacific Crest advised investors to take some profits in the stock. Analyst Andy Hargreaves forecast the percentage of new iPhone users who buy the next version of the device beyond the iPhone 6 is likely to decline versus prior cycles. The stock likely has only limited room to increase, according to Hargreaves, who said he would probably downgrade Apple unless new products that can generate billions of dollars in new operating profit are launched at its September 9 event. MAJOR MOVERS: Among the notable gainers was Infinity Pharmaceuticals (INFI), which surged $4.81, or 44.05%, to $15.73 after the company announced a cancer drug collaboration with AbbVie (ABBV) and a master clinical supply agreement with Roche (RHHBY). Also higher was Mobileye (MBLY), which jumped $3.94, or 9.16%, to $46.97 ahead of its second quarter earnings report, which is due tomorrow morning. Among the noteworthy losers was Repros Therapeutics (RPRX), which fell $4.11, or 18.55%, to $18.05 after FDA briefing documents ahead of a panel on T-normalizing therapies prompted Piper Jaffray to downgrade the stock to Neutral from Overweight. Also lower after its earnings report was apparel company Vince Holding (VNCE), which fell $4.47, or 11.54%, to $34.27. Analysts at Piper Jaffray attributed the post-earnings weakness to investor concerns over heightened inventory levels, but the firm said it still sees Vince as one of the best small cap growth names in its space and would be "aggressive buyers" on the weakness. INDEXES: The Dow edged up 10.72, or 0.06%, to 17,078.28, the Nasdaq fell 25.62, or 0.56%, to 4,572.56, and the S&P 500 slipped 1.56, or 0.08%, to 2,000.72.
12:33 EDTRHHBYOn The Fly: Midday Wrap
Stocks on Wall Street were higher to begin the day, as reports spurred optimism that a ceasefire agreement between Russia and the Ukraine may soon be reached. The move was short lived, as the averages turned mixed during the second hour of trading. Shares of Apple (AAPL) are weighing down the Nasdaq after an analyst recommended investors take some profits in the stock. ECONOMIC EVENTS: In the U.S., factory orders rose 10.5% in July, which was a bit below the forecast for 11.0% growth. The Fed's Beige Book is scheduled to be released at 2:00 pm ET. In Europe, the final reading of Eurozone services PMI was knocked down to 53.1 from a preliminary 53.5 reading, mirroring the lowering of the Eurozone manufacturing PMI reading yesterday. COMPANY NEWS: Shares of Apple retreated 4% after research firm Pacific Crest advised investors to take some profits in the stock. Pacific Crest analyst Andy Hargreaves forecast the percentage of new iPhone users who buy the next version of the device beyond the iPhone 6 is likely to decline versus prior cycles. The stock likely has only limited room to increase, according to Hargreaves, who said he would probably downgrade Apple unless new products that can generate billions of dollars in new operating profit are launched at its September 9 event... Carmakers reported on August vehicle sales in the U.S., with Chrysler (FIATY) reporting a 20% increase, Ford stating that sales rose slightly compared to the prior year and General Motors (GM) posting a 1.2% decline in sales. MAJOR MOVERS: Among the notable gainers was Infinity Pharmaceuticals (INFI), which jumped 46% after the company announced a cancer drug collaboration with AbbVie (ABBV) and a master clinical supply agreement with Roche (RHHBY). Also higher was Mobileye (MBLY), which gained nearly 10% after Morgan Stanley wrote that the stock could rise "towards $100" if the company maintains its current market, gross margins and earnings position. Mobileye is scheduled to report on its second quarter results tomorrow morning, which will be its first quarterly report since its August IPO. Among the noteworthy losers was Repros Therapeutics (RPRX), which dropped 15% after newly posted FDA briefing documents regarding a panel on T-normalizing therapies prompted Piper Jaffray to downgrade the stock to Neutral from Overweight. Also lower following its earnings report was apparel company Vince Holding (VNCE), which fell 11%. INDEXES: Near midday, the Dow was up 33.71, or 0.2%, to 17,101.27, the Nasdaq was down 23.24, or 0.51%, to 4,574.95, and the S&P 500 was down 0.64, or 0.03%, to 2,001.64.
06:48 EDTRHHBYInfinity Pharmaceuticals partners with Roche for blood cancer clinical studies
Infinity Pharmaceuticals (INFI) has entered into a master clinical supply agreement with Roche (RHHBY) under which Roche will supply Gazyva to Infinity for use in planned clinical studies to evaluate the combination of Gazyva and duvelisib, Infinityís oral inhibitor of phosphoinositide-3-kinase -delta and PI3K-gamma, in patients with hematologic malignancies, or blood cancers. The companies have also entered into a material transfer agreement under which Infinity is supplying Roche with duvelisib for use in Rocheís preclinical and translational research to evaluate the combination of duvelisib and Gazyva.
September 2, 2014
16:25 EDTEXELOn The Fly: Closing Wrap
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12:09 EDTEXELOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with the Nasdaq clinging to narrow gains and the Dow and S&P both down about 0.25%. Stocks began the session basically unchanged but turned mixed within minutes of the open. The volume has been light and the market has moved in a narrow range, continuing the type of pattern that was seen all of last week ahead of the holiday. ECONOMIC EVENTS: In the U.S., Markit's final manufacturing PMI for August dipped slightly from the flash print of 58.0 to 57.9, but that was up from July's 55.8 reading. ISM's manufacturing index for August climbed to 59.0 from 57.1 in July, beating expectations. Construction spending bounced back 1.8% in July, beating expectations for it to have risen 1.0% after declining in the prior month. In Asia, HSBC's final manufacturing PMI for China edged down to 50.2 from the preliminary 50.3 August reading, which was already down from the 51.7 report in July. The Chinese government's official purchasing managers index came in at 51.1 for August, which was down from its 51.7 reading in July. In Europe, the Eurozone's final manufacturing PMI for August was revised down to 50.7 from 51.8 in the preliminary reading. COMPANY NEWS: Apple (AAPL) was in the headlines following a celebrity photo hack involving several of its iCloud accounts. Despite the negative publicity from those events, the stock gained nearly 1% after noted Piper Jaffray analyst Gene Munster raised his price target on the tech giant's shares to $120 from $105, citing the upcoming launch of new products and services. Another firm, Cantor, said in its own note to investors that it believes that Apple will have its most exciting product launches "in many years" over the next few months... In M&A news, Dollar General (DG) rose almost 1% after increasing its all-cash proposal to buy Family Dollar (FDO) to $80.00 per share and also increasing the number of stores that it would be willing to agree to divest to 1,500 if ordered by the FTC. Shares of Family Dollar, which previously rejected Dollar General's prior proposal on the basis of antitrust regulatory concerns, traded above the new offer price, while Dollar Tree (DLTR), which currently has a merger agreement deal in place with Family Dollar, also gained 1.5%. MAJOR MOVERS: Among the notable gainers were two other companies involved in M&A, one which was a buyer and one which was bought. Norwegian Cruise Line (NCLH) advanced 12% after agreeing to acquire upscale peer Prestige Cruises for $3.03B, while Compuware (CPWR) rose over 12% after the company confirmed it agreed to be acquired by private equity investment firm Thoma Bravo in a transaction valued at approximately $2.5B. Among the noteworthy losers was Exelixis (EXEL), which plunged 53% after its phase 3 pivotal trial of cabozantinib in certain men with metastatic castration-resistant prostate cancer did not meet its primary endpoint and the stock was downgraded by at least three Street research firms. Also lower was lease-to-own retailer CONN'S (CONN), which dropped 30% and was downgraded at Piper Jaffray after weakness in its credit operations prompted a Q2 earnings miss and caused the company to cut its fiscal year guidance. INDEXES: Near midday, the Dow was down 43.58, or 0.25%, to 17,054.87, the Nasdaq was up 2.97, or 0.06%, to 4,583.24, and the S&P 500 was down 4.83, or 0.24%, to 1,998.54.
10:53 EDTEXELExelixis downgraded to Neutral from Overweight at Piper Jaffray
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10:02 EDTEXELOn The Fly: Analyst Downgrade Summary
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08:56 EDTEXELOn The Fly: Pre-market Movers
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06:45 EDTEXELExelixis downgraded to Hold from Buy at Stifel
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06:45 EDTEXELExelixis downgraded to Market Perform from Outperform at Cowen
Cowen downgraded Exelixis following failure of the COMET-1 Phase 3 trial to meet its primary endpoint.

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