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March 17, 2014
09:15 EDTYHOO, JASO, ICPT, LO, BMY, FPRX, WPX, VRSN, GMCR, HTZ, SINA, HNROn The Fly: Pre-market Movers
UP AFTER EARNINGS: JA Solar (JASO), up 16%. ALSO HIGHER: Five Prime (FPRX), up 13% after signing collaborative agreement with Bristol-Myers (BMY)... SINA (SINA), up 9% after files preliminary prospectus to raise up to $500M in U.S. IPO of Weibo unit... Hertz (HTZ), up 7.7% after Financial Times says the company is nearing a spin-off of its construction equipment rental business... Lorillard (LO), up 2.5% following upgrade at Goldman... Keurig Green Mountain (GMCR), up 3.7% after being selected to replace WPX Energy (WPX) in S&P 500 as of March 21 close... Yahoo (YHOO), up 4.1% after Alibaba announces plan to begin U.S. IPO process... LOWER: Intercept (ICPT), down 0.6% after disclosing two serious adverse events in Phase 2 FLINT trial... Harvest Natural (HNR), down 10% after earnings report. VeriSign (VRSN), down 5% after the National Telecommunications and Information Administration said it intends to transition key Internet domain name functions.
News For YHOO;SINA;HTZ;GMCR;VRSN;WPX;FPRX;BMY;LO;ICPT;JASO;HNR From The Last 14 Days
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July 10, 2014
17:51 EDTLOLorillard initiated with an Underperform at Cowen
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17:49 EDTYHOOAlibaba may begin IPO process by end of month, WSJ reports
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16:07 EDTHNRHarvest Natural files $300M mixed securities shelf
12:43 EDTBMYBristol-Myers announces plans for Q3 submission of Opdivo BLA
Bristol-Myers Squibb announced earlier that, following discussions with the FDA, the company is planning a Q3 submission of a Biologics Licensing Application for Opdivo for previously treated advanced melanoma. This will mark the second tumor type for which Bristol-Myers Squibb has a regulatory submission underway for Opdivo in the U.S. “We continue to collaborate closely with the FDA on Opdivo and the planned submission in advanced melanoma represents an important step forward in our company’s commitment to deliver innovative treatment options for patients with cancer,” said Michael Giordano, MD, Head of Oncology Development, Bristol-Myers Squibb. The advanced melanoma BLA is based on data from Checkmate -037, a multinational, multicenter, randomized open-label Phase 3 trial evaluating Opdivo compared to dacarbazine or carboplatin/paclitaxel in patients with unresectable or metastatic melanoma who have been previously treated with Yervoy and, if BRAF-mutation positive, a BRAF inhibitor regimen. Bristol-Myers Squibb has proposed the name Opdivo, which, if approved by health authorities, will serve as the trade name for nivolumab.
12:14 EDTLOLorillard jumps 2%, or $1.34, to $64.35
11:35 EDTYHOOStocks with call strike movement; YHOO AAL
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11:09 EDTLOOptions with increasing implied volatility
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08:26 EDTICPTLeerink reiterates caution on Intercept ahead of FLINT data
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06:07 EDTLOLorillard implied volatility of 40 at upper end of index mean range
July 9, 2014
12:42 EDTLOLorillard, Reynolds deal still most likely outcome, says Wells Fargo
After it was reported that British American Tobacco (BTI) is potentially in talks to acquire the 58% of Reynolds American (RAI) that it doesn't own, Wells Fargo says it still believes a combination between Reynolds and Lorillard (LO) remains the most likely outcome. The firm thinks Susan Cameron was not brought back to run Reynolds to help facilitate a sale transaction to BAT. Wells recommends buying shares of Lorillard on any pullback should a deal between BAT and Reynolds be announced, as it thinks that ultimately a transaction to buy Lorillard would likely follow.
11:25 EDTLOReynolds rises as BAT said to contemplate total takeover
Shares of cigarette manufacturer Reynolds American (RAI) are higher this morning following a report that British American Tobacco (BTI) is close to a deal to buy the stake in Reynolds it does not already own. WHAT'S NEW: The Daily Mail reported that British American Tobacco, which currently holds a 42% stake in Reynolds, is speculated to be "on the verge" of buying out the 58% of its U.S. peer that it does not already own. WHAT'S NOTABLE: A deal for Reynolds, whose brands include Kill, Camel, Winston and Salem, by British American Tobacco would stop any plans Reynolds might already have to buy Lorillard (LO), which makes Newport menthol cigarettes and electronic cigarettes. CNBC's David Faber said on July 3 that Reynolds was on track to buy Lorillard "within weeks," and added that Imperial Tobacco (ITYBY) would likely buy some of the divested assets as a result of the transaction. Faber noted at the time that British American Tobacco was likely to build a position in Reynolds. ANALYST REACTION: According to the Daily Mail, Citigroup has said it would be "advantageous" for British American Tobacco to acquire all of Reynolds, as its earnings per share would be boosted by 10%-13% and give it access to "one of the best" global e-cigarette platforms. The firm believes a total acquisition would allow British American Tobacco "total freedom" to deploy Reynolds' intellectual property on e-cigarettes. PRICE ACTION: Reynolds American shares are up $1.62, or 2.64%, to $62.93 in mid-morning trading. Meanwhile, British American Tobacco shares trading in New York are down 46c to $121.51 and Lorillard is up 40c to $63.33.
09:13 EDTLOOn The Fly: Pre-market Movers
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07:26 EDTLOBritish American rumored 'on verge' of deal to buy out Reynolds, Daily Mail says
British American Tobacco (BTI) is speculated to be "on the verge of a mega deal" to buy the 58% cigarette peer Reynolds American (RAI) that it does not already own, according to the Daily Mail. By doing so, it would stop any plans Reynolds might have to buy another company in the industry, Lorillard (LO), according to the report. Reference Link
07:05 EDTGMCRKeurig now exclusive manufacture of Harris Teeter K-Cup packs
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July 8, 2014
09:35 EDTJASOChina may lower solar installation target, OTR Global says
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08:36 EDTJASOChina to raise rooftop solar subsidies, South China Morning Post says
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08:25 EDTYHOOYahoo volatility elevated into Q2 and growth outlook
Yahoo July call option implied volatility is at 35, August is at 39, September is at 34, October is at 37; compared to its 26-week average of 33 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on July 15.
07:20 EDTBMYBristol-Myers price target lowered to $55 from $62 at Leerink
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07:17 EDTBMYLeerink raises immuno-oncology market forecast to $36B
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05:55 EDTGMCRStocks with implied volatility movement; TSLA GMCR
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