New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 29, 2014
12:13 EDTGALT, UPS, FTR, PGTI, PFE, CTL, MW, MRK, WINOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday despite a much better than expected consumer confidence reading and better than expected earnings from two pharmaceutical giants. With the Fed currently conducting its two-day FOMC meeting, investors may be choosing to remain cautious ahead of tomorrow’s conclusion. The averages have weakened in the last hour and are now mixed, with the Nasdaq leading and the S&P 500 lagging, but all of the major averages are not far from their starting points. ECONOMIC EVENTS: In the U.S., the S&P Case Shiller home price index rose 9.34% from the prior year in May to 170.64, which was a bit below the expectation for a 9.9% year-over-year increase. The Conference Board's consumer confidence reading climbed to 90.9 in July from an upwardly revised 86.4 June figure, beating expectations for a 85.4 reading and reaching its highest level since October 2007. COMPANY NEWS: Windstream (WIN) jumped 12% and sent ripples throughout the telecom sector after announcing plans to spin off certain telecommunications network assets into an independent, publicly traded Real Estate Investment Trust, or REIT. Windstream confirmed it has received a private letter ruling from the Internal Revenue Service relating to certain tax matters regarding the tax-free nature of the spinoff and the qualification of the spunoff entity's assets as real property for REIT purposes. In addition to Windstream, shares of other companies that provide communications services gained as they were viewed as potentially being positioned to pursue similar plans, with Frontier Communications (FTR) advancing 11% and CenturyLink (CTL) rising 4%. However, Morgan Stanley cautioned that this ruling could reopen the political debate on REIT exemptions, especially if bigger companies begin to explore them, while UBS said large Telcos such as AT&T (T) and Verizon (VZ) are unlikely to consider a similar structural separation... UPS (UPS) fell 3.5% after reporting Q2 adjusted earnings per share that missed expectations and lowering its fiscal year earnings outlook, citing its plans to increase operating expenses for capacity and peak related projects to a total of $175M. “These initiatives will increase operating expense this year, but will provide financial benefits for years to come,” said UPS CFO Kurt Kuehn... Two Dow members and pharma giants, Pfizer (PFE) and Merck (MRK), both reported sales and profits that beat expectations for their second quarters. Pfizer, which backed its fiscal year adjusted EPS view but lowered its adjusted revenue view for the year, fell 0.4%, while Merck gained 1.6% near noon after its own report. MAJOR MOVERS: Among the notable gainers was windows and door supplier PGT Inc. (PGTI), which gained 28% after reporting better than expected quarterly results and agreeing to buy CGI Windows & Doors for about $111M. Among the noteworthy losers was Men's Wearhouse (MW), which fell 7% after the company gave long-term guidance during its analyst day meeting. Also lower was Galectin Therapeutics (GALT), which plunged 55% after the company posted a presentation on its website that contains a summary of the results of the second cohort of patients in the Phase 1 clinical trial for GT-020. Galectin's GR-MD-02 showed no difference from placebo across most efficacy biomarkers in the phase I study of nonalcoholic steatohepatitis, according to The Street's Adam Feuerstein. INDEXES: Near midday, the Dow was down 1.79, or 0.01%, to 16,980.80, the Nasdaq was up 8.00, or 0.18%, to 4,452.91, and the S&P 500 was down 1.91, or 0.1%, to 1,977.00.
News For WIN;CTL;FTR;MRK;PFE;UPS;MW;PGTI;GALT From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
May 27, 2015
08:34 EDTFTRFrontier Communications upgraded two notches to Overweight at Morgan Stanley
Subscribe for More Information
05:49 EDTMRKStocks with implied volatility movement; MRK EFA
Stocks with implied volatility movement; Merck (MRK) 19, iShares MSCI EAFE Index Fund (EFA) 16 according to iVolatility.
May 26, 2015
16:01 EDTMRKOptions Update; May 26, 2015
Subscribe for More Information
14:07 EDTPFEFDA approves request for updated package insert for Prevnar 13
The FDA approved a request from Pfizer's Wyeth Pharmaceuticals to supplement the biologics license application for Pneumococcal 13-valent Conjugate Vaccine, or Prevnar 13, to update the package insert to include data from the CAPiTA confirmatory efficacy study in adults. Reference Link
06:36 EDTMRKMerck announces Simponi received CHMP positive opinion
MSD, known as Merck & Co., in the U.S. and Canada, announced that SIMPONI has received CHMP positive opinion for the treatment of adult patients with severe, active non-radiographic axial spondyloarthritis with objective signs of inflammation as indicated by elevated C-reactive protein, or CRP, and/or magnetic resonance imaging evidence, who have had an inadequate response to, or are intolerant to nonsteroidal anti-inflammatory drugs. Once the EU commission issues their EC decision, and if approved, nr-axial SpA patients can be considered for the once-monthly subcutaneous injection with SIMPONI.
May 22, 2015
10:52 EDTMRK, PFEJPMorgan says Actavis shares cheap compared to peers
Subscribe for More Information
07:22 EDTMRKMerck receives positive CHMP opinion for Pembrolizumab in advanced melanoma
Subscribe for More Information
07:15 EDTMRKMerck receives positive CHMP opinion for KEYTRUDA in advanced melanoma
Merck announced that the Committee for Medicinal Products for Human Use, or CHMP, of the European Medicines Agency has adopted a positive opinion recommending approval of KEYTRUDA, the company’s anti-PD-1 therapy, for the treatment of advanced melanoma, as both first-line therapy and in previously treated patients. The CHMP positive opinion for KEYTRUDA, which is based on data in more than 1,500 adult patients with advanced melanoma, will now be reviewed by the European Commission for central marketing authorization in the European Union.
May 21, 2015
17:20 EDTWINTalon Energy Corp. to replace Windstream in S&P 400 as of 6/1 close
Subscribe for More Information
10:43 EDTFTROptions with increasing implied volatility
Options with increasing implied volatility: FTR LL XLNX LULU
07:37 EDTPFEPfizer replaces AbbVie as top global pharma pick at Jefferies
Subscribe for More Information
05:45 EDTFTRStocks with implied volatility movement; FTR LUV
Stocks with implied volatility movement; Frontier Communications (FTR) 50, Southwest (LUV) 34 according to iVolatility.
May 20, 2015
07:46 EDTPFEDeutsche Bank positive on potential Pfizer, GSK merger
Deutsche Bank analyst Gregg Gilbert believes a large foreign deal for Pfizer (PFE) may make sense and says a buyout of GlaxoSmithKline (GSK) could be "materially" accretive to earnings while improving the company's tax situation over time. Gilbert assumes a $60 per share buyout price for GlaxoSmithKline in a research note this morning titled "Introducing 'PfizerKline'". The stock closed yesterday up 2c to $44.68. Gilbert reiterates a Buy rating on Pfizer with a $41 price target. Shares ended yesterday up 23c to $34.21.
May 19, 2015
10:44 EDTUPSUPS to settle alleged civil false claims act violations for $25M
Subscribe for More Information
07:43 EDTWINJPMorgan to hold a conference
Subscribe for More Information
07:28 EDTMRKUBS to hold a conference
Global Healthcare Conference is being held in New York on May 18-20 with webcasted company presentations to begin on May 19 at 8 am; not all company presentations may be webcasted. Webcast Link
07:22 EDTUPSUPS having success with pickup points, WSJ says
Driven by the increase in e-commerce deliveries, UPS (UPS) has been combatting failed deliveries by using package pickup points, called UPS Access Points, like local drug stores, reports the Wall Street Journal. As a result UPS, FedEx (FDX), and DHL are investing in new systems aimed at having e-commerce customers collect orders from these pickup points, the Journal adds. Reference Link
06:55 EDTPFE, MRKGenocea could be takeover target after data, says Piper Jaffray
Piper Jaffray analyst Edward Tenthoff expects Genocea Biosciences (GNCA) will report positive Phase II GEN-003 post-immunization results late in Q2. GEN-003 is a therapeutic vaccine for genital herpes targeting Herpes Simplex Virus Type 2. Positive GEN-003 data could position Genocea as a potential acquisition target by a larger vaccine player, Tenthoff tells investors today in a research note. Large vaccine makers include Sanofi (SNY), Merck (MRK), GlaxoSmithKline (GSK), Pfizer (PFE) and Novartis (NVS). The analyst reiterates an Overweight rating on Genocea with a $14 price target. Shares of the clinical-stage vaccine developer with a $227M market capitalization closed yesterday up 83c to $10.22.
May 18, 2015
06:58 EDTPFEActavis CEO says chances of Pfizer offer are 'unlikely', Financial Times says
Actavis (ACT) CEO Brent Saunders said the chances of Pfizer (PFE) making an offer are "incredibly unlikely," reports the Financial Times. Saunders said he has heard the gossip that Actavis could become a takeover target for a larger group, but he spends "zero time thinking about it." Reference Link
May 17, 2015
14:20 EDTWINWindstream shares seem attractive short-term, Barron's says
Subscribe for More Information
1 | 2 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use