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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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| May 17, 2013 |
| 16:21 EDT |  | BP | On The Fly: Closing Wrap
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| 16:20 EDT |  | NVS | Novartis drug Afinitor extended time without disease progression in women
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| 13:09 EDT | | BP | Tesoro receives FTC clearance for purchase of BP refining, marketing business
Tesoro (TSO) announced that the Federal Trade Commission has cleared the company's planned acquisition of BP's (BP) fully integrated Southern California Refining and Marketing business and that Tesoro intends to close the acquisition during Q2. The clearance from the FTC came without any impacts to the assets or operations in the transaction as announced in August of last year. The purchase price of BP's assets is $1.075B, plus the market value of inventory, currently estimated at $1.3B. This amount includes a $100M purchase price reduction for the clearance with regulatory authorities. |
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| 05:51 EDT |  | CBST | Stocks with implied volatility movement; CBST CELG
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| May 16, 2013 |
| 14:46 EDT |  | BP | Tesoro may take over BP California assets as soon as June 1, Reuters says
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| 14:32 EDT | | BP | Tesoro may take ownership of BP Carson refinery, other assets as soon as June 1
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| 12:33 EDT | | CHK | Chesapeake volatility at 29-month lows
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| 10:03 EDT |  | CHK | On The Fly: Analyst Downgrade Summary
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| 08:11 EDT | | NVS | Novartis says no intention of pursuing Actavis, Bloomberg reports
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| 07:29 EDT |  | CBST | Leerink to host a bus tour
Boston Biopharma Bus Tour travels throughout Boston on May 16-17. |
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| 07:11 EDT | | BP | BP wants PM Cameron to discuss Gulf compensation with U.S., Reuters reports
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| 06:47 EDT | | CHK | Chesapeake downgraded to Neutral from Overweight at JPMorgan
JPMorgan downgraded Chesapeake citing valuation and a lack of catalysts. |
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| 06:08 EDT | | BP | On the Fly: Periodicals Wrap-Up
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| May 15, 2013 |
| 19:37 EDT | | NVS | Novartis weighing Actavis bid, WSJ reports
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| 18:17 EDT | | NVS | Novartis weighs possible bid for Actavis, DJ reports
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| 17:46 EDT | | CBST | SAC Capital gives quarterly update on stakes
NEW STAKES: Discovery (DISCA), Liberty Global (LBTYA), Liberty Media (LMCA), Norwegian Cruise Line (NCLH), and Cubist (CBST). INCREASED STAKES: Suncor (SU), EQT Corporation (EQT), Amazon.com (AMZN), Visa (V), and GNC Holdings (GNC). DECREASED STAKES: News Corp. (NWSA), Facebook (FB), Sherwin-Williams (SHW), and Avago (AVGO). LIQUIDATED STAKES: Coach (COH), Dover (DOV), and Virgin Media (VMED), . |
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| 16:00 EDT | | CBST | Optimer calls active following takeover report
Optimer (OPTR) May and June 17 calls are active on 5,600 contracts (500 puts) according to Track Data. Traders are taking positions for large price movement on Cubist (CBST) offered to buy the company for $20 per share, Reuters says. |
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| 15:54 EDT | | CBST | Optimer up 12.5%, to $16.03 after Reuters report Cubist offered $20 per share
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| 15:53 EDT | | CBST | Cubist offered to buy Optimer for $20 per share, Reuters says
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| 08:38 EDT | | BP | WTI crude falls for a fith consecutive day, Bloomberg reports
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| 05:55 EDT | | BP | EU inspects firms in oil investigation, WSJ reports
EU antitrust authorities carried out unannounced inspections of energy giants BP (BP), Royal Dutch Shell (RDS.A) and Statoil (STO), escalating an investigation of alleged oil-price manipulation amid scrutiny of how prices are set in global financial markets, reports the Wall Street Journal. EU officials are investigating whether the three companies manipulated prices in the $2.5T physical-oil market by giving false data to an oil index publisher, the Platts unit of McGraw Hill Financial (MHFI). Platts's offices were also inspected.Reference Link |
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| May 14, 2013 |
| 11:08 EDT | | BP | BP says involved in EC probe, cooperating with investigation, Bloomberg reports
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| 07:24 EDT | | GSK | EBD Group to host a conference
BioTrinity 2013 is being held in Newbury, England on May 14-16. |
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| 07:10 EDT | | BP | IEA says North American oil will dominate world supply growth, WSJ reports
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| May 13, 2013 |
| 16:53 EDT | | CBST | Optimer gets bids from AstraZeneca, Cubist, Astellas, Bloomberg says
Optimer (OPTR) has received first round bids from AstraZeneca (AZN), Cubist (CBST), and Astellas, reports Bloomberg, citing people familiar with the matter. Shares of Optimer spiked higher following the report, closing up $1.85, or 14.44%, to $14.66. The report notes the company disclosed almost three months ago it was exploring its strategic options. Reference Link |
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| 16:25 EDT | | GSK | On The Fly: Closing Wrap
Stocks on Wall Street were little changed from their opening levels as investors weighed the potential end of the Fed's quantitative easing program against a better than expected report on retail sales. The Wall Street Journal's Jon Hilsenrath suggested in a report over the weekend that the Federal Reserve has mapped a QE exit strategy. The report paired with the retail sales data left the market lacking conviction in either direction today, as the averages spent the majority of the session range-bound near the flatline. ECONOMIC EVENTS: In the U.S., retail sales rose 0.1% in April, which beat expectations for a 0.3% decline. Retail sales excluding autos, gas, and building materials rose 0.6%, which was also better than expected. Business inventories were flat in March, versus expectations for a 0.3% gain. In Asia, Chinese factory output grew 9.3% annually in April, which was up from 8.9% in March but still missed expectations for a 9.5% growth rate. COMPANY NEWS: The Supreme Court ruled unanimously that Monsanto's (MON) patented genetically altered soybeans are protected and that farmers cannot use them to create new seeds without paying the company... Dell's (DELL) special committee publicly asked for more information from Carl Icahn and Southeastern Asset Management about their proposed leveraged recapitalization. This request follows television interviews by Icahn last Friday in which he discussed his Dell proposal, as well as a weekend report in Barron's saying the Icahn and Southeastern plan could be a better deal for shareholders. MAJOR MOVERS: Among the notable gainers was Theravance (THRX), up $6.26, or 17.92%, to $41.20 after Elan Corporation (ELN) bought a stake in the potential future royalty payments from four respiratory programs partnered with GlaxoSmithKline (GSK) in exchange for $1B in cash. Also higher was Tesla (TSLA), which rose $11.04, or 14.38%, to $87.80 in its third straight double-digit percentage gain following a better-than-expected earnings report last week. Among the noteworthy losers was Barnes & Noble (BKS), down $2.21, or 9.48%, to $21.10 after the blog InsiderMonkey disputed a previous report about Microsoft's (MSFT) interest in the bookseller's NOOK assets. Also lower was JoS. A. Bank (JOSB), down $3.31, or 7.16%, to $42.90 after the company's first quarter earnings view came in below expectations. INDICES: The Dow was down 26.81, or 0.18%, to 15,091.68; the Nasdaq was up 2.21, or 0.06%, to 3,438.79; and the S&P 500 was nearly unchanged at 1,633.77. |
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| 15:55 EDT | | CBST | Optimer gets first round bids from AstraZeneca, Cubist, Bloomberg says
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| 12:20 EDT | | GSK | On The Fly: Midday Wrap
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| 09:44 EDT | | TEVA | Several companies reportedly interested in buying Adcock Ingram, Globes says
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| 07:49 EDT |  | TEVA | FDA decision on Opana a modest positive for Impax, says Leerink
Leerink views the FDA's denial of Endo's (ENDP) Citizen Petition as a modest positive for Impax (IPXL), which it notes is the sole holder of 180 day exclusivity on generic Opana. However, Leerink says upside for Impax will be limited as Actavis (ACT), Sandoz, and Teva (TEVA) have settlements to enter the market starting in June 2013 when Impax's 180-day generic exclusivity expires. |
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| 06:12 EDT | | CHK | BNY Mellon appeals ruling on Chesapeake’s early $1.3B bond call, Bloomberg says
Bank of New York Mellon (BK) is appealing a ruling allowing Chesapeake Energy (CHK) to proceed today with redeeming $1.3B in bonds six years early at 100 cents on the dollar, reports Bloomberg. A notice of the appeal was filed May 11 in federal court in Manhattan.Reference Link |
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| 05:44 EDT | | GSK | Elan provides additional information on Elan/Theravance agreement
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| 05:35 EDT | | GSK | Theravance, Elan enter into $1B royalty participation agreement
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| May 10, 2013 |
| 12:42 EDT | | GSK | GlaxoSmithKline, Theravance confirm FDA approval of Breo Ellipta
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| 11:48 EDT | | GSK | Drugmakers to face pressure on U.S. prices, Reuters says
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| 11:15 EDT | | GSK | FDA approves Breo Ellipta to treat chronic obstructive pulmonary disease
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| 10:00 EDT |  | TEVA | On The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 3D Systems (DDD) initiated with a Buy at Janney Capital... Actavis (ACT) initiated with an Outperform at BMO Capital... Allergan (AGN) initiated with an Outperform at BMO Capital... Emeritus (ESC) initiated with an Outperform at Wells Fargo... Ensign Group (ENSG) initiated with a Market Perform at Wells Fargo... Forest Labs (FRX) initiated with an Underperform at BMO Capital... J2 Global (JCOM) initiated with an Outperform at Wedbush... Mylan (MYL) initiated with an Underperform at BMO Capital... Splunk (SPLK) initiated with a Market Perform at FBR Capital... Teva (TEVA) initiated with an Outperform at BMO Capital... Workday (WDAY) initiated with an Outperform at Oppenheimer... Nuance (NUAN) initiated with an Outperform at Wedbush... Demandware (DWRE) initiated with an Outperform at Wedbush... Synchronoss (SNCR) initiated with an Outperform at Wedbush... Trius Therapeutics (TSRX) initiated with a Buy at Guggenheim... Proto Labs (PRLB) initiated with a Buy at Janney Capital... Stratasys (SSYS) initiated with a Buy at Janney Capital. |
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| 06:53 EDT | | GSK | GlaxoSmithKline, Merck to discount cancer vaccine in poor nations, NY Times says
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| 05:42 EDT | | NVS | Novartis drug Ilaris approved by FDA
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| May 9, 2013 |
| 16:35 EDT | | TEVA | Teva initiated with an Outperform at BMO Capital
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| May 8, 2013 |
| 16:30 EDT | | CHK | MarkWest Energy acquires granite was assets from Chesapeake for $245M
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| 14:09 EDT | | CHK | Chesapeake confirms favorable ruling in bond litigation
Chesapeake Energy (CHK) announced that the United States District Court for the Southern District of New York has ruled in Chesapeake’s favor, enabling the company to redeem its $1.3B of 6.775% Senior Notes due 2019 at par pursuant to the Special Early Redemption provision of the Notes. The company initiated its legal action on March 8, against the trustee for the Notes, The Bank of New York Mellon (BK). Chesapeake said will proceed with its Special Early Redemption of the Notes, with payment expected to be made on May 13, adding, “We are pleased that the Court has ruled in Chesapeake’s favor. We expect the refinancing of the Notes to save the Company more than $100M in interest payments.” |
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| 13:07 EDT | | JAZZ | Jazz sinks after CEO comment sparks generic concern
Jazz Pharmaceuticals (JAZZ) is retreating, after the company's CEO made a comment that led to speculation that a generic version of its narcolepsy treatment could be launched. WHAT'S NEW: The FDA may modify the rules governing Jazz's narcolepsy treatment, Xyrem, to allow more than one pharmacy to distribute the drug, Jazz CEO Bruce Cozadd stated during the company's first quarter results conference call last night. In a note today to investors, Piper analyst David Amsellem wrote that the CEO's statement could increase investors' anxiety regarding the possible introduction of generic versions of Xyrem. However, Jazz's patents, not FDA rules, are the main hurdles preventing generic versions of Xyrem from being launched, Amsellem stated. The analyst continues to believe that Jazz will either win the patent infringement case it has filed against Roxane Laboratories, which is trying to market a generic version of Xyrem, or reach a settlement with generic manufacturers that will prevent them from marketing a generic version of Xyrem until 2019. One of Jazz’s patents for Xyrem will expire in that year, the analyst noted. He maintained a $69 price target and Overweight rating on Jazz. TODAY'S PRICE ACTION: In early afternoon trading, Jazz slumped $5.60, or 9.5%, to $53.90. |
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| 12:48 EDT | | CHK | Chesapeake wins bond suit against BNY Mellon, Reuters reports
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| 12:16 EDT | | JAZZ | Jazz Pharmaceuticals weakness a buying opportunity, says Guggenheim
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| 12:03 EDT | | TEVA | Teva says data demonstrates ovulatory effect of investigational contraceptive
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| 10:26 EDT | | TEVA | Alexza deal with Teva could be worth $12 per share or more, says Roth Capital
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| 09:06 EDT | | TEVA | Alexza Pharmaceuticals to host conference call
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| 08:33 EDT | | TEVA | Teva, Alexza announce Teva's license to market Adasuve in the U.S.
Teva Pharmaceuticals USA, a subsidiary of Teva Pharmaceutical (TEVA), and Alexza Pharmaceuticals (ALXA) announced that the companies have entered into an exclusive U.S. license and supply agreement for Adasuve inhalation powder 10 mg for the acute treatment of agitation associated with schizophrenia or bipolar I disorder in adults. Teva will be responsible for all U.S. commercial and clinical activities for Adasuve, including U.S. post-approval clinical studies, and has gained rights to conduct additional clinical trials of Adasuve for potential new indications in neurological disorders. Alexza will be responsible for manufacturing and supplying Adasuve to Teva for commercial sales and clinical trials. Under the terms of the license and supply agreement, Alexza will receive an upfront cash payment of $40M and is eligible to receive up to $195M in additional milestone payments, based upon successful completion of the ADASUVE post-approval studies in the U.S. and achieving net sales targets. In addition, Teva will make tiered, royalty payments based on net commercial sales of Adasuve. |
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| May 7, 2013 |
| 16:37 EDT |  | JAZZ | Jazz Pharmaceuticals sees FY13 adjusted EPS $6.10-$6.30, consensus $5.87
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| 16:35 EDT | | JAZZ | Jazz Pharmaceuticals announces up to $200M share repurchase program
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| 16:35 EDT | | JAZZ | Jazz Pharmaceuticals reports Q1 adjusted EPS $1.37, consensus $1.35
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| 16:01 EDT | | BP | Options Update; May 7, 2013
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| 11:50 EDT | | TEVA | Teva rival receives patent for once a month Copaxone
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| 11:37 EDT | | CHK | Gastar gains after plan to raise funds for share buyback, settlement
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| 10:00 EDT | | CHK | On The Fly: Analyst Initiation Summary
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| 08:34 EDT | | CBST | FDA grants fast track desingation for Cubist's late-stage antibiotic candidate
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| 08:06 EDT | | CHK | Chesapeake initiated with a Cautious at ISI Group
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| May 6, 2013 |
| 16:23 EDT | | NVS | Array to start first company-led Phase 3 trial with MEK162
Array (ARRY) announced the planned start of its first company-led Phase 3 trial with MEK162 in low-grade serous ovarian cancer. This is the third MEK162 pivotal trial that is expected to initiate in 2013 and one of five pivotal trials Array expects to begin in 2013 on Array-invented products. Novartis (NVS), who is co-developing MEK162 with Array, previously stated that Phase 3 trials in NRAS-mutant melanoma and BRAF-mutant melanoma are expected to start this year and AstraZeneca has announced its plans to initiate two registration trials with selumetinib, a MEK inhibitor invente (AZN) d by Array, in KRAS-mutant non-small cell lung cancer and in thyroid cancer. Array also recently released initial data on its wholly-owned hematology drug, ARRY-520, from a combination trial with Velcade® (bortezomib) in patients with relapsed or refractory multiple myeloma (MM), showing that the drug was generally well-tolerated and showed initial signs of activity in this heavily pretreated population. |
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| 09:27 EDT | | BP | BP announces asle of interest in Polvo field, Brazil for $135M
BP announced that it has agreed to sell its 60% interest in the Polvo oil field in Brazil to HRT Oil & Gas Ltda for $135M in cash. Subject to regulatory approvals, BP expects the deal to close in the second half of 2013. The Polvo field is located in the southern part of Campos basin, approximately 100 kilometres off the coast of Rio de Janeiro, in water depths of around 100 metres. Commercial production started in 2007 and BP has operated the field since its acquisition from Devon. The other 40% stake in the field is owned by Maersk. |
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| 07:49 EDT | | GSK | Bernstein's global pharmaceuticals analyst has analyst/industry conference call
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| 07:30 EDT | | BP | OTC to host a conference
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| 07:18 EDT | | TEVA | American Congress of Obstetrics and Gynecology to hold annual meeting
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| 05:56 EDT | | BP | U.S. natural gas exports helped by geopolitical debate, WSJ reports
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| May 5, 2013 |
| 14:48 EDT | | CHK | Chesapeake director Louis Simpson resigns from board
Chesapeake Energy announced on Friday that its board has accepted the resignation of director Louis A. Simpson. Thomas L. Ryan, President and CEO of Service Corporation International has been elected to fill the vacancy and has been appointed to the audit committee. He will stand for election at the 2013 annual meeting of shareholders on June 14. Mr. Ryan replaces R. Brad Martin on the audit committee, with Mr. Martin becoming chair of the nominating, corporate governance and social responsibility committee |
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