AAPL - Reportedly sells out of pre-order iPhone 6 plus phones in all colors and capacities - tech blogs
ECB's Coene: Falling EUR exchange rate is helpful; additional ECB measures could be implemented quickly, need to avoid disinflation cycle
- Reiterates have not used up all of the policy options
- ABS program is limited QE
- Sees EONIA under zero for some time
- ECB's September projections were a bit optimistic, recent rate cut was designed to bolster the take up of the TLTRO
Vitamin Shoppe ticking higher; hearing Sterne Agee suggesting CEO departure may indicate potential sale of the company
Hearing strength attributed to stronger guidance on analyst day call - Reportedly analysts discussing better Q3 guidance on call; sees revenues exceeding previous guidance by $100M-
FDA denies appeal of its rescission of the ANCHOR trial Special Protocol Assessment (SPA) agreement
The Office of New Drugs (OND) within the FDA has denied Amarin's appeal of FDA's rescission of the ANCHOR clinical trial Special Protocol Assessment (SPA) agreement. Amarin had previously expressed that while it believes strongly in its legal, scientific and regulatory appeal arguments that it would be an uphill battle to achieve an SPA agreement reinstatement. Amarin continues to believe that reinstatement of this SPA agreement and approval of an indication based on the ANCHOR clinical trial results is in the best interest of patient care and is evaluating OND's response and potential next steps. Amarin has not yet received a determination from FDA on the pending ANCHOR supplemental new drug application (sNDA).
- Vascepa remains FDA approved and marketed for use as an adjunct to diet to reduce triglyceride levels in adult patients with severe (>500 mg/dL) hypertriglyceridemia.
* U.S. specialty drugmaker Akorn Inc is exploring a bid for Belgian drugmaker UCB SA's U.S. subsidiary, a deal that would allow the company to move its tax domicile overseas in a practice known as inversion, according to people familiar with the matter.
Akorn: Shares higher on speculation from Reuters that the company was exploring a potential $2 bln inversion deal with Kremers Urban Pharmaceutical; Buy -- Gabelli & Co.
Gabelli & Co. notes, AKRX rose 3.4% yday following speculation from Reuters that co was exploring a potential $2 bln inversion deal with Kremers Urban Pharmaceutical, a US specialty generics subsidiary of Belgian-based pharmaceutical company, UCB. Firm continues to recommend co and expect co's mgmt to maintain its successful track record of doing value-creating deals within the generic and specialty pharmaceutical markets. Firm would expect an inversion deal to be accretive to current estimates and to serve as a catalyst for the stock.
Gapping down
In reaction to disappointing earnings/guidance: CHKE -7.9%
Select metals/mining stocks trading lower: GFI -2.5%, HMY -1.1%, GOLD -1%, IAG -0.5%.
Other news: ACHN -3.3% (negative commentary on Thursday's Mad Money), HCN -3.1% (announces proposed offering of 15,500,000 shares of common stock), SDRL -2.8% (still checking), PPL -1.9% (Federal Appeals Court sides with PPL, affirms New Jersey Court decision invalidating state legislation subsidizing new power plants), AMAT -1.4% (unfavorable China's Ministry of Commerce determination in Tokyo Electron deal), KATE -1.1% (negative commentary on Thursday's Mad Money)
Analyst comments: RKUS -4.5% (initiated with a Underweight at Morgan Stanley), DDR -3.5% (downgraded to Hold from Buy at KeyBanc Capital Mkts, downgraded to Neutral from Buy at UBS
)
In reaction to disappointing earnings/guidance: CHKE -7.9%
Select metals/mining stocks trading lower: GFI -2.5%, HMY -1.1%, GOLD -1%, IAG -0.5%.
Other news: ACHN -3.3% (negative commentary on Thursday's Mad Money), HCN -3.1% (announces proposed offering of 15,500,000 shares of common stock), SDRL -2.8% (still checking), PPL -1.9% (Federal Appeals Court sides with PPL, affirms New Jersey Court decision invalidating state legislation subsidizing new power plants), AMAT -1.4% (unfavorable China's Ministry of Commerce determination in Tokyo Electron deal), KATE -1.1% (negative commentary on Thursday's Mad Money)
Analyst comments: RKUS -4.5% (initiated with a Underweight at Morgan Stanley), DDR -3.5% (downgraded to Hold from Buy at KeyBanc Capital Mkts, downgraded to Neutral from Buy at UBS
)
Gapping up
In reaction to strong earnings/guidance: ULTA +16.1%, CGA +8.3%, SPWH +7.6%, CVTI +7.6%, DRI +3.5%, NTWK +3%
M&A news: CNVR +32.6% (Alliance Data to acquire Conversant), ADS +2.4%
Other news: ASTI +11.5% (regains compliance with NASDAQ minimum bid price rule), STRI +11.5% (still checking), XPO +8.7% (announced a $700 mln investment by PSP Investments, GIC, Singapore's sovereign wealth fund, and Ontario Teachers' Pension Plan; co also raised its FY17 financial targets), LXRX +8.4% (announced a publication in the American Diabetes Association's Journal),ACAD +4.8% (favorable commentary on Thursday's Mad Money), FUEL +4.4% (following late spike into the close), HTZ +4.2% (Hertz Global reaches an agreement-in-principle with Carl Icahn to add Three Directors), VNET +4% (cont volatility), RMTI +3.9% (still checking), CRTO +3.7% (following late move higher), BTX +3.7% (co's subsidiary reached an agreement with Cancer Research UK and Cancer Research Technology for a clinical trial of immunotherapy vaccine for lung cancer), TASR +2.9% (favorable commentary on Thursday's Mad Money), ISIS +2.7% (favorable commentary on Thursday's Mad Money), SCOK +2.5% (following 18% move higher yesterday), OREX +2.3% (mentioned positive on CNBC's Fast Money), NVO +2.1% ( FDA's Endocrinologic and Metabolic Drugs Advisory Committee votes 14-1 in favor of recommending approval of liraglutide for chronic weight management ), BCS +2.1% (John McFarlane appointed to succeed Sir David Walker as Chairman), WWAV +1.8% (cont M&A spec), TNET +1.6% (prices 12 mln shares of common stock at a price of $25.50 per share ), S +1.5% (announces exclusive new rate plan for iPhone 6 and iPhone 6 plus and a revolutionary new way to acquire iPhone, also upgraded to Outperform from Mkt Perform at Cowen), FEYE +1.1% (cont volatility), HDS +1% (announces sale of 20,000,000 shares of common stock by selling stockholders)
Analyst comments: NLNK +4.9% (initiated with a Buy at Mizuho), TMUS +1% (upgraded to Buy from Hold at Argus), IRC +0.9% (upgraded to Buy from Hold at KeyBanc Capital Mkts), NFLX +0.7% (upgraded to Equal Weight from Underweight at Barclays)
In reaction to strong earnings/guidance: ULTA +16.1%, CGA +8.3%, SPWH +7.6%, CVTI +7.6%, DRI +3.5%, NTWK +3%
M&A news: CNVR +32.6% (Alliance Data to acquire Conversant), ADS +2.4%
Other news: ASTI +11.5% (regains compliance with NASDAQ minimum bid price rule), STRI +11.5% (still checking), XPO +8.7% (announced a $700 mln investment by PSP Investments, GIC, Singapore's sovereign wealth fund, and Ontario Teachers' Pension Plan; co also raised its FY17 financial targets), LXRX +8.4% (announced a publication in the American Diabetes Association's Journal),ACAD +4.8% (favorable commentary on Thursday's Mad Money), FUEL +4.4% (following late spike into the close), HTZ +4.2% (Hertz Global reaches an agreement-in-principle with Carl Icahn to add Three Directors), VNET +4% (cont volatility), RMTI +3.9% (still checking), CRTO +3.7% (following late move higher), BTX +3.7% (co's subsidiary reached an agreement with Cancer Research UK and Cancer Research Technology for a clinical trial of immunotherapy vaccine for lung cancer), TASR +2.9% (favorable commentary on Thursday's Mad Money), ISIS +2.7% (favorable commentary on Thursday's Mad Money), SCOK +2.5% (following 18% move higher yesterday), OREX +2.3% (mentioned positive on CNBC's Fast Money), NVO +2.1% ( FDA's Endocrinologic and Metabolic Drugs Advisory Committee votes 14-1 in favor of recommending approval of liraglutide for chronic weight management ), BCS +2.1% (John McFarlane appointed to succeed Sir David Walker as Chairman), WWAV +1.8% (cont M&A spec), TNET +1.6% (prices 12 mln shares of common stock at a price of $25.50 per share ), S +1.5% (announces exclusive new rate plan for iPhone 6 and iPhone 6 plus and a revolutionary new way to acquire iPhone, also upgraded to Outperform from Mkt Perform at Cowen), FEYE +1.1% (cont volatility), HDS +1% (announces sale of 20,000,000 shares of common stock by selling stockholders)
Analyst comments: NLNK +4.9% (initiated with a Buy at Mizuho), TMUS +1% (upgraded to Buy from Hold at Argus), IRC +0.9% (upgraded to Buy from Hold at KeyBanc Capital Mkts), NFLX +0.7% (upgraded to Equal Weight from Underweight at Barclays)
Allergan: Pershing Square submits additional special meeting requests representing 35% of AGN Shares; requests exceed 25% threshold excluding Pershing Square’s 9.7% stake and do not include an additional 4% that requesting shareholders could not submit due to onerous bylaws
Co announced that it has submitted additional special meeting requests from shareholders owning 1.29% of Allergan's shares, bringing the total to 35.1%. Not including Pershing Square, shareholders owning over 25% of Allergan's shares have now provided the necessary documentation and cleared the administrative hurdles in Allergan's bylaws to join Pershing Square in calling for the special meeting.
- While the company has set a December 18 meeting date, it continues to attempt to delay or stop the meeting by pursuing spurious litigation against Pershing Square and Valeant Pharmaceuticals International (VRX).