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News Breaks
April 30, 2014
09:13 EDTPOM, HDS, RFMD, PNRA, ENR, LVLT, AUXL, EXC, EBAY, TWTR, VPRT, SGYP, LLOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Level 3 (LVLT), up 8%... RF Micro Devices (RFMD), up 6.7%. ALSO HIGHER: Energizer (ENR), up 18% after announcing plan to separate into two publicly traded companies, one focused on Household Products and one on Personal Care... Pepco Holdings (POM), up 18% after Exelon (EXC) to acquire the company for $27.25 per share in cash... Synergy Pharmaceuticals (SGYP), up 5.6% after plecanatide shows positive results in Phase 2B study. DOWN AFTER EARNINGS: Twitter (TWTR), down 11.5%... Lumber Liquidators (LL), down 3%... Panera Bread (PNRA), down 5.6%. ALSO LOWER: eBay (EBAY), down 4.5% after downgraded at Atlantic Equities, price target lowered at JPMorgan after earnings report, company taking $3B charge on repatriation of $9B worth of cash... Auxilium (AUXL), down 14.8% after cutting FY14 revenue view... HD Supply (HDS), down 3% after filing to sell 30M shares of common stock for holders... Vistaprint (VPRT), down 18% after downgraded at Cantor following lower than expected Q3 earnings.
News For TWTR;ENR;POM;EBAY;PNRA;LL;EXC;RFMD;SGYP;AUXL;HDS;VPRT;LVLT From The Last 14 Days
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June 17, 2015
12:06 EDTTWTRTwitter says acquires Whetlab, terms not disclosed
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11:47 EDTTWTRTwitter falls to session lows, levels to watch
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11:41 EDTSGYPSynergy an 'attractive takeout target' after data, says Cantor
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11:32 EDTTWTRTwitter calls active
Twitter June 35 and July 40 calls are active on total call volume of 61K contracts (13K puts). June call option implied volatility is at 48, July is at 37, September is at 46; compared to its 52-week range of 28 to 74. Active call volume suggests traders taking positions for near term price movement.
11:28 EDTSGYPJPMorgan reiterates Overweight on Ironwood amid selloff
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11:27 EDTSGYPSynergy's plecanatide not yet a threat to Ironwood's Linzess, says BofA/Merrill
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11:08 EDTTWTROptions with increasing implied volatility
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10:57 EDTTWTRRumor: Twitter spikes on renewed takeover chatter
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10:44 EDTSGYPSynergy a potential takeover target after constipation drug data
The shares of Synergy Pharmaceuticals (SGYP) are rallying after the company announced that its chronic constipation treatment had met its primary endpoint in a Phase 3 clinical trial. Research firm Canaccord has previously identified Synergy as a potential takeover target and a Bloomberg report said the company had hired advisers to explor a potential sale. WHAT'S NEW: Synergy reported this morning that the 3 mg and 6 mg versions of its anti-constipation drug, plecanatide, had met their primary endpoint in a Phase III trial. Specifically, a statistically significant percentage of patients taking both versions of the drugs responded favorably, based on criteria that the FDA uses to determine approval of chronic constipation treatments, the company stated. Plecanatide was safe and well tolerated at both dose, and the results were positive, the company reported. "These results strengthen our belief that plecanatide has the potential to not only effectively treat constipation but with a durability and tolerability profile that is ideal for chronic use," said Synergy CEO Gary Jacob. "We look forward to the results of our second pivotal trial in the coming weeks," he added. WHAT'S NOTABLE: In a note to investors on May 22, Canaccord analyst Corey Davis initiated coverage of Synergy with a Buy rating. There is "a high likelihood" that data from the company's four Phase III trials due to be conducted over the next year will be positive and the company would be an attractive takeover target if its Phase III data is positive, Jacobs wrote. The analyst placed an $11 price target on the shares. Meanwhile, in March, Bloomberg reported that Synergy was talking to advisers about potentially selling the company after its competitor, Salix Pharmaceuticals, had agreed to be acquired by Valeant Pharmaceuticals (VRX). After the company reported the trial results today, its CEO told Bloomberg that "all options are on the table." IRONWOOD: The shares of Ironwood (IRWD), whose Linzess drug also treats chronic constipation, are falling today following Synergy's data readout. Canaccord's Davis had said that the diarrhea rate of patients taking Synergy's plecanatide had to come in at 10% or lower for the drug to achieve "best differentiation" versus Linzess. Patients taking the 3 mg dose of plecanatide had a diarrhea rate of 5.5%, while 5.9% of those taking the 6 mg dose experienced diarrhea, Synergy reported. Linzess is co-marketed by Ironwood and Forest Pharmaceuticals, a unit of Allergan (AGN). PRICE ACTION: In morning trading, Synergy surged 45% to $6.74, while Ironwood slid fractionally to $12.16.
10:19 EDTSGYPHigh option volume stocks
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09:40 EDTTWTRActive equity options trading on open
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09:36 EDTTWTRActive equity options trading on open
Active equity options trading on open: AAPL FB AMD ADBE TWTR BABA QIHU NFLX BAC
09:25 EDTSGYPIronwood slips after Synergy announces data on constipation drug
Shares of Ironwood (IRWD) are lower in pre-market trading after Synergy Pharmaceuticals (SGYP) announced top-line results from the first of two pivotal phase 3 clinical trials evaluating the efficacy and safety of two different plecanatide treatment doses in adult patients with chronic idiopathic constipation. Plecanatide was safe and well tolerated at both doses, Synergy said, noting that the most common adverse event was diarrhea, which occurred in 5.9% of patients in 3.0 mg and 5.5% of patients in 6.0 mg dose groups. Ironwood’s competing Linzess drug had a 16% diarrhea rate for CIC patients, according to its FDA label. Linzess is co-marketed by Ironwood and Forest Pharmaceuticals, a unit of Allergan (AGN). Ironwood shares are down 45c, or 3.7%, to $11.75 in pre-market trading.
09:17 EDTSGYPOn The Fly: Pre-market Movers
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09:17 EDTENRTourbillon Capital reports 5.1% passive stake in Energizer
08:14 EDTSGYPSynergy CEO says 'all options are open' following Phase 3 data
After Synergy Pharmaceuticals (SGYP) announced top-line results from the first of two pivotal phase 3 clinical trials evaluating the efficacy and safety of two different plecanatide treatment doses in adult patients with chronic idiopathic constipation, Synergy CEO Gary Jacobs reportedly told Bloomberg in a phone interview that “all options are open at this point" as the company seeks to maximize the value of the asset. Jacobs added that newly reported data topped expectations, especially on tolerability, and that the company has “high confidence” that its second phase 3 trial data will be positive as well. In March, Bloomberg reported that Synergy was talking to advisers about a potential sale of the company after its competitor, Salix Pharmaceuticals, had agreed to be acquired by Valeant Pharmaceuticals (VRX). In pre-market trading, Synergy shares rose $2.46, or 53%, to $7.10.
06:17 EDTTWTRCostolo: Twitter 'legitimately' searching for new CEO, WSJ reports
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06:03 EDTSGYPSynergy Pharma announces positive results in Phase 3 trial of plecanatide
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05:59 EDTTWTRInterim Twitter CEO Dorsey not leaving role as Square CEO, Re/code reports
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05:56 EDTTWTRStocks with implied volatility movement; TWTR NBG
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