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Stock Market & Financial Investment News

News Breaks
March 5, 2014
10:53 EDTXOMAXOMA price target raised to $10 from $8 at Canaccord
Canaccord raised its price target for XOMA shares to $10 from $8 despite the erosive osteoarthritis of the hand trial failure. The firm said the setting was never part of its model and that its raised target reflects the pyoderma gangrenosum data. Canaccord reiterates a Buy rating on XOMA.
News For XOMA From The Last 14 Days
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July 29, 2015
06:04 EDTXOMAStocks with implied volatility below IV index mean; BIIB XOMA
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July 23, 2015
17:33 EDTXOMAFelix Baker reports 4.99% stake in XOMA
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10:00 EDTXOMAOn The Fly: Analyst Downgrade Summary
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05:36 EDTXOMAXOMA downgraded to Hold from Buy at Jefferies
Jefferies downgraded XOMA to Hold with a $1 price target after gevokizumab did not meet its primary endpoint in a Phase 3 study.
July 22, 2015
16:27 EDTXOMAOn The Fly: Top stock stories for Wednesday
Stocks began the session in negative territory and remained there throughout the day. Uninspiring earnings reports from Apple (AAPL) and Microsoft (MSFT) were enough to push the Nasdaq lower and the rest of the market followed. There was good news on the housing sector, with both existing home sales and a housing market index coming in with good data, but it was not enough to overcome the tech selloff. ECONOMIC EVENTS: In the U.S., the FHFA home price index rose 0.4% to 222.8 in May, as expected. Existing home sales rose 3.2% to a 5.49M rate in June, better than the 0.9% increase that was expected. In Europe, the European Central Bank reportedly raised the cap on Greece's Emergency Liquidity Assistance by EUR900M to EUR90.4B, according to Bloomberg. COMPANY NEWS: Shares of Apple dropped $5.79, or 4.43%, to $124.96 after iPhone shipments in the just completed quarter and the company's sales forecast for the new quarter missed estimates. A number of suppliers to Apple declined in tandem with the tech giant. Skyworks Solutions (SWKS), Qorvo (QRVO) and NXP Semiconductors (NXPI) were among the many semiconductor stocks that slid following Apple's report... Microsoft declined $1.88, or 3.97%, to $45.40 after reporting its Q4 Devices and Consumer revenue declined 13% and its Windows OEM revenue decreased 22% as revenue was impacted by PC market declines following the XP end-of-support refresh cycle. MAJOR MOVERS: Among the notable gainers was Thoratec (THOR), which rose $5.84, or 10.14% to $63.42 after St. Jude Medical (STJ) announced an agreement to acquire the company for $63.50 per share in a transaction valued at $3.4B. Shares of St. Jude, meanwhile, edged down by 4c to $76.67. Also higher following earnings reports were shares of Intuitive Surgical (ISRG) and Chipotle Mexican Grill (CMG), advancing about 8.5% and 7.8%, respectively. Among the noteworthy losers was Caesars Entertainment (CZR), which dropped $3.26, or 40.65%, to $4.76 following reports that a judge ruled the company must face certain creditor lawsuits that could force a bankruptcy. Caesars Acquisition (CACQ) also dipped after the news, falling $1.13, or 14.52%, to $6.65. Also lower was XOMA (XOMA), which plummeted $3.46, or 78.61%, to 94c and saw downgrades at numerous research firms after the company's Phase 3 gevokizumab study did not meet its primary endpoint. INDEXES: The Dow fell 65.60, or 0.37%, to 17,853.69, the Nasdaq lost 36.35, or 0.7%, to 5,171.77, and the S&P 500 declined 5.06, or 0.24%, to 2,114.15.
14:10 EDTXOMAXOMA downgraded to Neutral from Buy at Ladenburg
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13:36 EDTXOMAXOMA downgraded to Sector Perform from Outperform at RBC Capital
RBC Capital downgraded XOMA to Sector Perform from Outperform and lowered its price target on the stock to $2 from $8 after a trial of its gevokizumab drug in patients with Behcet's disease uveitis did not meet its primary endpoint.
12:57 EDTXOMAXOMA downgraded to Market Perform from Outperform at Cowen
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12:32 EDTXOMAOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday as slides in a number of big name tech stocks following their earnings reports dominated the news flow and largely dictated the market's direction. ECONOMIC EVENTS: In the U.S., the FHFA home price index rose 0.4% to 222.8 in May, as expected. Existing home sales rose 3.2% to a 5.49M rate in June, better than the 0.9% increase that was expected. In Europe, the European Central Bank reportedly raised the cap on Greece's Emergency Liquidity Assistance by EUR900M to EUR90.4B, according to Bloomberg. COMPANY NEWS: The tech sector has been weak, headlined of course by a 5% pullback in shares of Apple (AAPL) after iPhone shipments in the just completed quarter and the company's sales forecast for the new quarter missed estimates. Adding to the negative tone in tech stocks, and contributing further to the decline in the Nasdaq, was the 3% drop seen in Microsoft (MSFT) shares after its quarterly report as well as Yahoo's (YHOO) 1% decline after its revenue outlook missed the consensus forecast... Shares of Boeing (BA) and Coca-Cola (KO) fared better than Dow peer Apple after each reported better than expected sales and profits, though neither stock was moving far from where they closed yesterday's trading. MAJOR MOVERS: Among the notable gainers was Thoratec (THOR), which rose 10% after the company agreed to be acquired by St. Jude Medical (STJ) for $3.4 billion in cash, or $63.50 per share. St. Jude shares advanced fractionally after the deal, which had been foreshadowed by media reports yesterday, was announced. Also higher following their earnings reports were Intuitive Surgical (ISRG), which gained 10%, Chipotle Mexican Grill (CMG), which advanced 8% and Whirlpool (WHR), which was up 6%. Among the noteworthy losers were a number of suppliers to Apple that declined in tandem with the tech giant after it reported a sequential drop in iPhone sales. Skyworks Solutions (SWKS), Cirrus Logic (CRUS), Qorvo (QRVO) and NXP Semiconductors (NXPI) were among the many semiconductor stocks that slid following Apple's report. Also sharply lower was antibody-based therapeutics maker XOMA (XOMA), which plunged more than 73% and was downgraded to Neutral at Piper Jaffray after a Phase III trial of its gevokizumab drug in patients with Behcet's disease uveitis did not meet its primary endpoint. INDEXES: Near midday, the Dow was down 82.22, or 0.46%, to 17,837.07, the Nasdaq was down 42.68, or 0.82%, to 5,165.44, and the S&P 500 was down 6.93, or 0.33%, to 2,112.28.
11:03 EDTXOMAXOMA downgraded to Neutral from Overweight at Piper Jaffray
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09:07 EDTXOMAOn The Fly: Pre-market Movers
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08:31 EDTXOMAXOMA resumes, drops 63% after gevokizumab study misses primary endpoint
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08:08 EDTXOMAXOMA to resume trading at 8:30 am EDT after trial misses endpoint
Shares of antibody-based therapeutics maker XOMA were halted for trading before the company announced that a Phase 3 study of gevokizumab in patients with Behçet's disease uveitis did not meet the primary endpoint of time to first acute ocular exacerbation. The stock is scheduled to resume quotation at 8:25 am EDT and resume trading at 8:30 am EDT, according to Nasdaq.
08:02 EDTXOMAXOMA Phase 3 EYEGUARD-B study of gevokizumab did not meet primary endpoint
XOMA announced the Phase 3 EYEGUARD-B study of gevokizumab in patients with Behçet's disease uveitis, run by its partner Servier, an independent French pharmaceutical research company driven by the pursuit of innovative drugs, did not meet the primary endpoint of time to first acute ocular exacerbation. "Although the study did not achieve its main objective, we did see signals of drug activity such as preserved visual acuity, less severe ocular exacerbations and a reduced incidence of reported macular edema in patients treated with gevokizumab," said Paul Rubin MD, Senior Vice President Research and Development and Chief Medical Officer. "We will continue to work closely with our partner, Servier, and uveitis experts to conduct a thorough analysis of the data to fully understand gevokizumab's impact on several clinically relevant endpoints." Gevokizumab appeared to be well tolerated in the trial. Adverse events were comparable between gevokizumab and placebo treated groups.
08:02 EDTXOMAXOMA Phase 3 EYEGUARD-B study of gevokizumab did not meet primary endpoint
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07:59 EDTXOMAXOMA trading halted, pending news
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06:36 EDTXOMAXOMA volatility elevated into expected release of Phase III data
XOMA August call option implied volatility is at 287, September is at 228, December is at 167; compared to its 52-week range of 71 to 299, suggesting large price movement into expected release Phase III data for gevokizumab in Behçet’s disease uveitis.
05:27 EDTXOMAStocks with implied volatility above IV index mean; XOMA AMZN
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July 20, 2015
08:12 EDTXOMAXOMA volatility elevated into expected release of Phase III data
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06:06 EDTXOMAStocks with implied volatility above IV index mean; XOMA TWTR
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