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Stock Market & Financial Investment News

News For GSK;NVS;CBST;TEVA;JAZZ;BP;CHK From The Last 14 Days
Check below for free stories on GSK;NVS;CBST;TEVA;JAZZ;BP;CHK the last two weeks.
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July 30, 2014
10:37 EDTNVSInnoPharma announces launch of generic Zyprexa in Canada
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July 29, 2014
15:38 EDTGSKGlaxoSmithKline Tanzeum available in U.S. pharmacies
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13:18 EDTBPEU to hit Russia with new sanctions, Washington Post says
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10:03 EDTCHKChesapeake PRB swap, Utica buyback positive, says Wells Fargo
Wells Fargo views the Powder River Basin asset swap that Chesapeake executed and its plans to repurchase preferred shares of its Utica subsidiary as positives for the company, as the swap provides it with a more concentrated, high-quality acreage position and the repurchase simplifies its capital structure. However, the firm noted that the company's Q2 pricing update brings down its EPS estimate for the quarter by 4c. Wells maintains its Market Perform rating on the stock.
08:18 EDTCHKChesapeake sees Q2 realized NGL price ex-items $21.03 per barrel
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08:12 EDTCHKChesapeake agrees to repurchase all outstanding preferred shares of CHK Utica
Chesapeake also announced that it has agreed in principle to repurchase all of the outstanding preferred shares of its unrestricted subsidiary, CHK Utica from third-party preferred shareholders. Under the agreement, Chesapeake will pay approximately $1.26B to repurchase 1,060,000 preferred shares of CHK Utica. The proposed transaction, which is expected to close today, will retire Chesapeake’s highest cost leverage instrument and eliminate approximately $75M in annual cash dividend payments to third-party preferred shareholders. Chesapeake plans to fund the cash portion of the RKI acreage exchange and the repurchase of the CHK Utica preferred shares with available liquidity, including nearly $1.5B of unrestricted cash held on its balance sheet as of June 30. Chesapeake continues to refine its portfolio to focus on assets that best align with the company’s strategy of profitable growth from captured resources and expects to close additional sales of noncore assets, including non-E&P assets, by the end of 2014.
08:11 EDTCHKChesapeake announces exchange agreement with RKI Exploration
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07:48 EDTJAZZJazz Pharmaceuticals price target raised to $177 from $171 at Leerink
Leerink raised its price target for Jazz Pharmaceuticals shares to $177 citing an improved outlook for defibrotide. The firm keeps an Outperform rating on the stock.
07:41 EDTBPBP core business performed well in Q2, says Jefferies
Jefferies says BP's core businesses generally performed well in Q2 and that its view of the stock is unchanged following the quarterly results. It keeps a Buy rating on BP shares with a $55 price target.
07:40 EDTGSKCourt date set for Glaxo investigators arrested in China, WSJ says
Two investigators who were hired by GlaxoSmithKline last year to look into a sex video taken of the drug company's top China executive, and who were subsequently placed in custody by Chinese authorities on charges of illegally purchasing personal information about Chinese nationals, will stand trial August 8, reported The Wall Street Journal. Reference Link
05:53 EDTBPBP sees Q3 reported production lower than Q2
BP said, "The end of the Abu Dhabi concession in January 2014 together with divestment impacts, however, meant that reported Upstream production, at 2.1 million barrels of oil equivalent a day (mmboed), was 6% lower. Reported production in the third quarter is expected to be lower due primarily to turnaround and seasonal maintenance activities."
05:52 EDTBPBP reports Q2 EPS $1.18, consensus $1.12
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05:19 EDTNVSNovartis sees high uptake in meningitis B vaccination program
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July 28, 2014
11:36 EDTJAZZCANbridge Life Sciences and EUSA Pharma form agreement to commercialize Caphosol
CANbridge Life Sciences has entered into an exclusive partnership with EUSA Pharma, a Jazz Pharmaceuticals company, to commercialize Caphosol® in China. Under the terms of the agreement, CANbridge obtains exclusive rights to commercialize Caphosol in China, where over 3.5M new cancer cases are diagnosed each year, and there is little in the way of a standard adjunct therapy to treat oral mucositis. Caphosol is a prescription medical device, approved in the United States and European Union, designed to moisten, lubricate and clean the oral cavity including the mucosa of the mouth, tongue and oropharynx.
10:02 EDTGSKOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AcelRx (ACRX) downgraded to Hold from Buy at Canaccord... Anglo American (AAUKY) downgraded to Neutral from Buy at UBS... Aon plc (AON) downgraded to Hold from Buy at Sandler ONeill... Cabot Oil & Gas (COG) downgraded at Oppenheimer... Cisco (CSCO) downgraded to Sector Perform from Outperform at Pacific Crest... Coeur Mining (CDE) downgraded to Market Perform from Outperform at Raymond James... DSW (DSW) downgraded at Sterne Agee... DuPont Fabros (DFT) downgraded to Neutral from Buy at Citigroup... El Paso Electric (EE) downgraded to Hold from Buy at Jefferies... Enphase Energy (ENPH) downgraded to Hold from Buy at Deutsche Bank... GlaxoSmithKline (GSK) downgraded to Neutral from Buy at BofA/Merrill... Horizon Technology (HRZN) downgraded to Hold from Buy at Wunderlich... Lear (LEA) downgraded to Hold from Buy at Deutsche Bank... Life Time Fitness (LTM) downgraded at Wedbush... Monster Beverage (MNST) downgraded to Neutral from Buy at UBS... NRG Energy (NRG) downgraded to Buy from Conviction Buy at Goldman... PG&E (PCG) downgraded to Sell from Neutral at Goldman... Pfizer (PFE) downgraded at BMO Capital... Post Properties (PPS) downgraded to Neutral from Buy at Citigroup... Publicis (PUBGY) downgraded to Sell from Neutral at Citigroup... Selmer Scientific (SMLR) downgraded to Hold from Buy at Aegis... TransCanada (TRP) downgraded to Neutral from Outperform at Credit Suisse... Travelers (TRV) downgraded to Hold from Buy at Sandler O'Neill... Zurich Insurance (ZURVY) downgraded to Underperform from Market Perform at Bernstein.
08:09 EDTGSKGlaxoSmithKline downgraded to Neutral from Buy at BofA/Merrill
06:22 EDTGSKGlaxoSmithKline could eventually spin off consumer healthcare business, FT says
GlaxoSmithKline CEO Andrew Witty is considering the possibility of the company being broken up in the future, suggesting that the consumer healthcare business could be spun off if a time comes when it is more valuable as an independent company, the Financial Times reports. Witty says there are no such plans in the near term. Reference Link
05:30 EDTNVSAlcon announces Simbrinza approved in EU
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July 25, 2014
07:14 EDTTEVATeva August weekly volatility elevated into Q2 and outlook
Teva August weekly call option implied volatility is at 34, August is at 25, September and January is at 22; compared to its 26-week average of 27 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on July 31.
July 24, 2014
13:29 EDTGSKGlaxoSmithKline facing bribery allegations in Syria, Reuters says
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12:41 EDTGSKGlaxoSmithKline reports FDA approves Flonase for OTC sales in U.S.
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11:45 EDTGSKGlaxoSmithKline downgraded to Sell from Neutral at UBS
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07:27 EDTTEVASome of Teva's biggest investors to vote against re-electing directors, WSJ says
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06:45 EDTTEVATeva price target raised to $70 from $65 at Barclays
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06:13 EDTGSKGlaxoSmithKline's malaria vaccine candidate accepted for EU regulatory review
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05:41 EDTNVSNovartis announces FDA acceptance of Sandoz application for filgrastim
Sandoz, a Novartis Group company, announced that the FDA has accepted its Biologics License Application for filgrastim, which was filed under the new biosimilar pathway created in the Biologics Price Competition and Innovation Act of 2009.
July 23, 2014
10:02 EDTTEVAOn The Fly: Analyst Initiation Summary
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10:02 EDTCBSTOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 21st Century Fox (FOXA) downgraded to Market Perform from Outperform at Cowen... Brinker (EAT) downgraded to Sector Perform from Outperform at RBC Capital... Cubist (CBST) downgraded to Market Perform from Outperform at JMP Securities... DiamondRock (DRH) downgraded to Neutral from Outperform at RW Baird... DuPont (DD) downgraded to Neutral from Overweight at JPMorgan... FirstMerit (FMER) downgraded to Neutral from Overweight at JPMorgan... Helmerich & Payne (HP) downgraded to Accumulate from Buy at Tudor Pickering... Hexcel (HXL) downgraded to Hold from Buy at Canaccord... Juniper (JNPR) downgraded to Neutral from Buy at BofA/Merrill... King Digital (KING) downgraded at BofA/Merrill... Lexmark (LXK) downgraded at Raymond James... McDonald's (MCD) downgraded at RW Baird... Mead Johnson (MJN) downgraded to Outperform from Buy at CLSA... National Oilwell (NOV) downgraded to Accumulate from Buy at Tudor Pickering... Nintendo (NTDOY) downgraded to Hold from Buy at Jefferies... Raytheon (RTN) downgraded to Market Perform from Outperform at Bernstein... Targa Resources (TRGP) downgraded to Accumulate from Buy at Global Hunter... Time Warner (TWX) downgraded to Market Perform from Outperform at Cowen... Timmins Gold (TGD) downgraded to Market Perform from Outperform at Cowen... United Technologies (UTX) downgraded to Market Perform from Outperform at Wells Fargo... Viacom (VIAB) downgraded to Market Perform from Outperform at Cowen... Xilinx (XLNX) downgraded at BMO Capital.
09:33 EDTGSKGlaxoSmithKline reports record Promacta/Revolade Q2 revenue of $92M
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09:17 EDTGSKOn The Fly: Pre-market Movers
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08:29 EDTJAZZJazz Pharmaceutical initiated with a Buy at Buckingham
Target $215.
08:10 EDTJAZZ, TEVADeutsche Bank hosts an analyst Specialty Pharma/Industry conference call
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07:58 EDTBPBP management to meet with ISI Group
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07:19 EDTGSKGenmab reports Q2 Arzerra net sales GBP 12.8M
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07:12 EDTGSKGlaxoSmithKline lowers 2014 core EPS outlook to 'similar' to 2013
GSK now expects 2014 core EPS to be "broadly similar" to 2013 versus previous expectations of 4%-8% growth. It added, "Given impact of recent sustained strength of Sterling on free cash flow, share repurchases over balance of 2014 likely to be immaterial."
07:09 EDTGSKGlaxoSmithKline reports Q2 core EPS down 12% to 19.1p
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07:09 EDTGSKMylan wins restraining order against Apotex for generic version of GSK's Paxil
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06:41 EDTNVSArray BioPharma shares attractive at current levels, says Piper Jaffray
Piper Jaffray says shares of Array BioPharma are attractive at current levels ahead of Phase III data readouts for binimetinib in melanoma, selumetinib in Kras-mutant lung, thyroid and uveal melanoma, and filanesib in multiple myeloma. Piper sees the biggest overhang on Array shares as being the financing requirement and it notes that binimetinib could be returned to the company from current partner Novartis (NVS). Nonetheless, it feels investors should take a "serious look" at Array and keeps an Overweight rating on the stock with a $9 price target.
06:36 EDTBPEU fails to impose tough sanctions on Russia, NY Times says
EU foreign ministers failed to impose any tough sanctions against Russia during a meeting of the bloc's foreign ministers yesterday, according to The New York Times. Given their dependence on Russia's energy, EU countries have "largely decided" they "have to live with" Russia, the newspaper stated. Significant Russian companies include Gazprom (OGZPY), Lukoil (LUKOY) and Yandex (YNDX), while BP (BP) has a 20% stake in major Russian energy company Rosneft. Reference Link
06:05 EDTCBSTCubist downgraded to Market Perform from Outperform at JMP Securities
JMP Securities downgraded Cubist citing the Q2 miss and slowing growth.
July 22, 2014
17:13 EDTCBSTCubist sees FY14 revenue toward low end of previous range
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16:09 EDTJAZZJazz Pharmaceuticals initiated with a Buy at Deutsche Bank
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16:08 EDTTEVATeva initiated with a Buy at Deutsche Bank
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16:01 EDTCBSTCubist reports Q2 EPS 23c, may not compare to consensus 2c
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09:55 EDTGSKLupin, private equity funds weigh bids for GSK's older drugs, Reuters reports
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06:29 EDTBPEU weighing new sanctions on Russia, NY Times says
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July 21, 2014
08:16 EDTBPFMC Technologies signs agreement to develop susbsea equipment and systems
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08:11 EDTTEVAArena Pharma' subsidiary enters into agreement for Belviq with Teva subsidiary
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08:01 EDTTEVATeva completes acquisition of Labrys
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07:38 EDTNVSNovartis management to meet with JPMorgan
Meetings to be held in Los Angeles/Pasadena on July 24 and in San Francisco on July 25 hosted by JPMorgan.
07:11 EDTGSK, NVSInternational Society of DNA Vaccines to hold a conference
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07:03 EDTNVSAnacor, Sandoz enter into agreement for commercialization of Kerydin in the U.S.
Anacor Pharmaceuticals (ANAC) announced that it has entered into an exclusive agreement with Sandoz, a Novartis (NVS) company, pursuant to which Sandoz will distribute and commercialize Anacor’s drug KERYDIN topical solution, 5% in the United States. PharmaDerm, the branded dermatology business of Sandoz, will be responsible for the sales and marketing of KERYDIN. On July 8, Anacor announced that the U.S. FDA approved the New Drug Application for KERYDIN, the first oxaborole antifungal approved for the topical treatment of onychomycosis of the toenails, a fungal infection of the nail and nail bed that affects approximately 35 million people in the United States, according to Podiatry Today. The agreement with Sandoz entitles Anacor to upfront payments totaling $40M and an additional milestone payment of $25M expected to be paid in January 2015. Under the agreement, Sandoz and Anacor will share equally, under a long-term profit-sharing arrangement, the gross profits accrued by Sandoz on sales of KERYDIN, except that in 2015 Anacor will start receiving profit-sharing payments after the first $50M of gross profits have been accrued by Sandoz. The long-term profit-sharing arrangement includes cumulative minimum profit-sharing payments to Anacor in 2016 totaling $45M. Anacor will also have the option to repurchase all rights in KERYDIN from Sandoz on the later of three years from launch or December 31, 2017, at a price to be determined pursuant to the agreement. Under the terms of the agreement, Anacor will supply product to Sandoz at cost through Anacor’s contract manufacturers, and Sandoz will be responsible for all of its selling, marketing, distribution, general and administrative costs related to the commercialization of KERYDIN. Anacor will hold the NDA and will be responsible for any further development of KERYDIN.
July 20, 2014
11:58 EDTCHKCaterpillar, five others should benefit from global recovery, Barron's says
Caterpillar (CAT), Teradata (TDC), Kennametal (KMT), Capital One Financial (COF), T. Rowe Price Group (TROW), and Chesapeake Energy (CHK) are all relatively cheap and should benefit from global recovery, Barron's contends in its cover article. Reference Link
July 18, 2014
06:33 EDTBPChinese helping Russia blunt sanctions' impact, NY Times says
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July 17, 2014
10:00 EDTJAZZOn The Fly: Analyst Initiation Summary
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08:34 EDTNVSVanda requests award of $539M in proceedings with Novartis
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07:18 EDTGSKMylan wins motion to enjoin GlaxoSmithKline from production of generic product
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06:23 EDTGSKGlaxoSmithKline admits to bribing Chinese officials in 2001, FT reports
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05:32 EDTNVSNovartis reconfirms FY14 revenue guidance up at low to mid single digit rate
The company stated, "We are reconfirming our outlook for FY14. Group net sales in 2014 are expected to grow at a low to mid-single digit rate. Group core operating income is expected to grow ahead of sales in 2014, and now refined to mid to high-single digit. This outlook recognizes the entry of generic competition for Diovan monotherapy in the U.S. on July 7, including an authorized generic from Sandoz on the same date. If June average exchange rates prevail for the remainder of the year, the currency impact for the year would be -1% on sales and -3% to -4% on core operating income."
05:29 EDTNVSNovartis reports Q2 Core EPS $1.34, consensus $1.42
Reports Q2 revenue $14.6B, consensus $14.81B. Reports continued pipeline progress with positive regulatory decisions and significant clinical trial data released in Q2.
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