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Stock Market & Financial Investment News

News Breaks
April 1, 2014
08:12 EDTWXWuXi PharmaTech invests in TruTag security platform for drug safety
WuXi PharmaTech and TruTag Technologies announced that WuXi Corporate Venture Fund has made an investment in TruTag. In addition, WuXi and TruTag will explore collaborations to offer WuXi's global customers the TruTag on-dose authentication solution to help prevent counterfeiting and to enhance drug safety.
News For WX From The Last 14 Days
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May 5, 2015
07:25 EDTWXWuXi PharmaTech price target raised to $48 from $42 at JPMorgan
JPMorgan raised its price target for WuXi PharmaTech to $48 after the company received a go-private offer at $46 per share. JPMorgan thinks the go-private offer should provide a floor to the stock and points out its sum-of-the-parts analysts yields a $50 fair value for shares. It points out the current bid has "little visibility into timelines." The firm keeps an Overweight rating on Wuxi.
April 30, 2015
09:18 EDTWXOn The Fly: Pre-market Movers.
UP AFTER EARNINGS: Glu Mobile (GLUU), up 28.2% after reporting first quarter results and deals with Tencent and Britney Spears... Civeo (CVEO), up 3.05... TASER (TASR), up 9.6%... Virgin America (VA), up 2.7%... Noble Corp (NE), up 1.8%... Statoil (STO), up 2.8%... Alpha Natural (ANR), up 3.6%... Exxon Mobil (XOM), up 1.4%... Phillips 66 (PSX), up 1.2%... NXP Semiconductors (NXPI), up 2.4%. ALSO HIGHER: Clicksoftware (CKSW), up 27.8% after being acquired by Francisco Partners... JetBlue (JBLU), up 1.4% after being upgraded to Outperform from Neutral at Credit Suisse... WuXi PharmaTech (WX), up 16.5% after receiving going private proposal. DOWN AFTER EARNINGS: Yelp (YELP), down 17.1%... Celgene (CELG), down 2.4%... STMicroelectronics (STM), down 11.4%... Harman International (HAR), down 9%... Potash (POT), down 2.4%... Generac (GNRC), down 7%... Nokia (NOK), down 8.7%... Baidu (BIDU), down 2.6%. ALSO LOWER: Inovio Pharmaceuticals (INO), down 18.1% after 9.5M share Spot Secondary priced at $8.00... Miller Energy (MILL), down 9% after receiving 'Wells Notice'... Scorpio Tankers (STNG), down 7.5% after 15M share Spot Secondary priced at $9.30... Advaxis (ADXS), down 6% after 2.8M share Spot Secondary priced at $19.00.
09:14 EDTWXOn The Fly: Pre-market Movers.
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08:13 EDTWXWuXi PharmaTech to build mammalian cell culture manufacturing facility
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07:25 EDTWXWuXi PharmaTech announces receipt of proposal
WuXi PharmaTech announced that its board has received a preliminary non-binding proposal letter, dated April 29, 2015, from a consortium led by Ge Li founder, chairman and chief executive officer of the Company, and Ally Bridge Group Capital Partners hat proposes a transaction involving the acquisition of all outstanding shares of the company not already owned by members of the Consortium for $46.00 in cash per American Depositary Share, or $5.75 in cash per ordinary share. According to the proposal letter, the Consortium will form an acquisition company for the purpose of implementing the Transaction, and the Transaction is intended to be financed with a combination of debt and equity capital. The proposal letter also states that the Chairman and ABG have agreed to work together exclusively in pursuing the Transaction. The company's board will form a special committee comprising independent directors of the company to consider the proposed transaction. The Special Committee is expected to be authorized to retain independent advisors, including a financial advisor and legal counsel, to assist it in its work.

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