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Stock Market & Financial Investment News

News Breaks
April 23, 2012
16:25 EDTWMT, K, RDEA, AZN, BKS, ACHN, OTT, TWCOn The Fly: Closing Wrap
Stocks on Wall Street were lower following a pair of political developments in Europe. France’s incumbent president, Nicolas Sarkozy, came in second in the first round of the nation's elections and the Dutch cabinet failed to gain approval for a budget which included austerity measures, leading to their resignations. The European news, along with some disappointing data there and from China, weighed on the futures, which in turn led to a sharply lower open for the broader market. The market continued to move lower in the first hour of trading but then found a level where it began to build. The averages moved in a generally upward trend for the remainder of the session, as investors waited for the next round of earnings reports and for news later this week from the FOMC... ECONOMIC EVENTS: Domestically, little economic data of note was reported. Internationally, Markit's European composite purchase managers' index fell to 47.4 points while a flash Chinese PMI reading rose to 49.1 in April, with both of those figures signaling contraction... COMPANY NEWS: The New York Times said Wal-Mart (WMT) attempted to cover up bribery that it discovered at Wal-Mart de Mexico (WMMVY) and the retailers' shares were the Dow's worst performer, falling $2.91, or 4.66%, to $59.54... Kellogg (K) cut its full-year guidance as it said Europe's challenges were "more significant" than it expected and it sees Q1 challenges in some categories in the U.S. Shares sank $3.29, or 6.09%, to $50.70... MAJOR MOVERS: Among the notable gainers were Ardea Biosciences (RDEA), up $10.78, or 51.73%, to $31.62, after AstraZeneca (AZN) agreed to acquire the company for $32 per share, and Barnes & Noble (BKS), up $2.07, or 18.25%, to $13.41, as CNBC reported that Jana Partners is increasing its stake in the company to about 12%. Noteworthy losers included Achillion (ACHN), down $1.53, or 18.54%, to $6.74, following the company's report of Phase II study data for its lead hepatitis C treatment, and Otelco (OTT), down $5.37, or 44.64%, to $6.66, after it said Time Warner Cable (TWC) will not renew its existing contract for wholesale network connections, which made up almost 12% of Otelco’s consolidated revenue last year... INDICES: The Dow fell 102.09, or 0.78%, to 12,927.17; the Nasdaq dropped 30.00, or 1.00%, to 2,970.45; and the S&P 500 shed 11.59, or 0.84%, to 1,366.94.
News For WMT;K;RDEA;AZN;BKS;ACHN;OTT;TWC From The Last 14 Days
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July 28, 2014
11:39 EDTWMTWells says potential for competing Family Dollar bid an unknown
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10:02 EDTTWCOn The Fly: Analyst Upgrade Summary
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08:24 EDTTWCTime Warner Cable upgraded to Buy from Hold at Wunderlich
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07:21 EDTTWCTime Warner Cable upgraded to Buy from Hold at Wunderlich
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05:36 EDTAZNQIAGEN, AstraZeneca announce collaboration
QIAGEN (QGEN) announced a collaboration agreement with AstraZeneca (AZN) for the co-development and commercialization of a liquid biopsy-based companion diagnostic to be paired with IRESSA, AstraZeneca's targeted therapy for non-small cell lung cancer, or NSCLC. The project builds on a master framework agreement signed by both companies in 2013 and aims to develop and market a novel QIAGEN companion diagnostic that analyzes plasma samples to assess EGFR mutation status in NSCLC patients. The assay will be designed to guide the treatment of NSCLC patients with Astra Zeneca's oral monotherapy anti-cancer treatment when tumor tissue is not available. QIAGEN already offers the therascreen EGFR RGQ PCR Kit as a tissue-based companion diagnostic for lung cancer patients, which was approved in the U.S. by the FDA in July 2013 and in China in May 2014. The companies will collaborate to create a new companion diagnostic for IRESSA based on liquid biopsy samples from NSCLC patients, rather than requiring invasive surgical collection of tissue samples. Data from several studies, including the IFUM Study presented at the "World Lung 2013" conference, provided evidence of the ability to assess the EGFR status of advanced lung cancer patients using blood / plasma samples. This breakthrough provides hope for patients for whom surgical biopsy is not an option by enabling them to have their EGFR mutation status assessed using a less invasive method.
July 27, 2014
08:58 EDTWMTWal-Mart doesn't look cheap, Barron's says
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July 25, 2014
19:13 EDTTWCTime Warner Cable seeking faster HBO growth with web-based plan, Bloomberg says
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13:17 EDTKKellogg increases dividend by 6.5% to 49c
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July 24, 2014
11:32 EDTWMTWal-Mart U.S. CEO change not likely due to current trends, says RW Baird
RW Baird believes the departure of Bill Simon from his post as CEO of Wal-Mart U.S. has more to do with the executive's long-term career planning than with current trends, which the firm believes remain sluggish. Baird keeps its Outperform rating and $84 price target on Wal-Mart.
08:38 EDTWMTWal-Mart volatility at historic low into Foran succeeding Simon as U.S. CEO
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08:31 EDTWMTWal-Mart names Greg Foran as president and CEO of Walmart U.S.
Walmart announced that Greg Foran has been promoted to President and CEO of Walmart U.S. Foran succeeds Bill Simon who has been in the role since June 2010 and will be transitioning out of the company. Foran will assume his responsibilities on August 9 and will report directly to Walmart President and CEO, Doug McMillon. Simon will be available on a consulting basis for the next six months to ensure a seamless transition.
06:56 EDTWMTCourt rules Wal-Mart to show bribery probe documents, Reuters says
The Delaware Supreme Court ruled that Wal-Mart Stores must show a shareholder documentation that has to do with the firm's internal investigation of allegations it paid bribes in Mexico, according to Reuters, citing comments from a company spokeswoman. Reference Link
July 22, 2014
09:01 EDTTWCComcast says FCC started 180 day review clock for merger as of July 10
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08:56 EDTTWCComcast results reinforce positive view, says Brean Capital
Brean Capital said the Q2 operating results from Comcast (CMCSA) reinforced their positive view of the shares. Brean also believe the acquisition of Time Warner Cable (TWC) will create far greater synergies than what has been discussed publicly and keeps a Buy rating with a $65 price target on Comcast.
08:25 EDTTWCComcast reports Q2 operating cash flow up 7% to $5.8B
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06:55 EDTWMTWal-Mart reduces prices more intensly for back-to-school, Bloomberg says
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05:25 EDTAZNAdams Express, MedImmune announce clinical trial partnership
Advaxis (ADXS) has entered into a clinical trial collaboration with MedImmune, the global biologics research and development arm of AstraZeneca (AZN). The Phase I/II immunotherapy study will evaluate the safety and efficacy of MedImmune's investigational anti-PD-L1 immune checkpoint inhibitor, MEDI4736, in combination with Advaxis' lead cancer immunotherapy vaccine, ADXS-HPV, as a treatment for patients with advanced, recurrent or refractory human papillomavirus, or HPV,-associated cervical cancer and HPV-associated head and neck cancer. Both MEDI4736 and ADXS-HPV are cancer immunotherapies, a new class of treatments that use the body's own immune system to help fight cancer. Under the terms of the agreement, MedImmune and Advaxis will evaluate the combination as a treatment for HPV-associated cervical cancer and squamous cell carcinoma of the head and neck. The Phase I part of the trial is expected to establish a recommended dose regimen of MEDI4736 with ADXS-HPV, and the Phase II portion will assess the safety and efficacy of the combination. The study will be funded and conducted by Advaxis. Results from the study will be used to determine whether further clinical development of this combination is warranted. Under the terms of the deal, MedImmune has a non-exclusive relationship with respect to HPV-driven tumour types. MedImmune has first right of negotiation for future development of combinations involving MEDI4736 and ADXS-HPV.
July 21, 2014
16:18 EDTTWCNetflix says policy goal is for DOJ/FCC to block Comcast, TWC deal
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06:42 EDTWMTWal-Mart adds over $102M to Indian wholesale unit, Reuters says
Wal-Mart added fresh funds worth $102.9M into its Indian wholesale division last month, according to Reuters, citing a filing made by its Indian business to the Registrar of Companies. The filing detailed that the funds were allotted as share application money. Reference Link
July 17, 2014
09:22 EDTTWCComcast price target raised to $66 from $62 at Maxim
Maxim raised its price target for Comcast (CMCSA) shares to $66 citing synergies from the Time Warner Cable (TWC), Charter deal. The firm says it values NBC Universal on a 10 times 2015 EBITDA, which it notes is a 14% discount to Fox's (FOXA) proposed bid for Time Warner (TWX), which values Time Warner at 11.6 times. Maxim keeps a Buy rating on Comcast shares.
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