Bristol-Myers follow up: BMY down 7% following Opdivo data -- Hearing ISI out cautious regarding low PDL1 expression, opens up competition... MRK, RHHBY lifting (64.24 -4.91)
Stock just fell through support at the $64 level.
Intel is nearing a deal to acquire Altera, a maker of "programmable" processors, for as much as $15bn, according to people familiar with matter.
A deal could be announced as early as next week, said one person informed about the negotiations, reports James Fontanella-Khan in New York.
Although deal talks are in an advanced stage they could still fall apart, the person warned, stressing that an earlier attempt between the two companies to reach an agreement had collapsed after they failed to agree on a transaction price.
The revival of a deal between Intel and Altera comes on the heels of a wave of mergers and acquisitions in the chip making sector.
On Thursday Singapore-based Avago agreed to buy US rival Broadcom for $37bn in cash-and-stock in the largest acquisition seen in the technology world since the late-1990s dotcom bubble.
News of a possible deal between Intel and Altera was first reported by the New York Post.
Shares in Altera are up 3.5 per cent at $48.61 on Friday, after closing 1.9 per cent lower the previous day.
Officials from the EU and IMF have warned Greece not to use threats of a default on IMF payments as a tactic in negotiations
Sonova Holding AG said to be working with M&A bankers to examine 'strategic options'; could lead to sale
Gapping up
In reaction to strong earnings/guidance: MX +9.4%, GHM +8%, GME +6.9%, BOOT +5.5%, BIG +3.8%, BLOX +2.6%, ULTA +2.4%
M&A news: ALTR +6.6% (NYPost article saying that Intel (INTC) is close to a $15 bln deal to buy Altera, for as much as $54/share)
Select small cap biotech/pharma related names showing strength ahead of ASCO: OPXA +9.8%, ONTY +4.1%, HALO +1.8%
Other news: HRTX +37.9% ( announces positive, top-line results from its recently completed Phase 3 MAGIC study; the study's primary endpoint was achieved), PBMD +17.4% (announces an update on its lead product, IMP321, stating that it has filed for patent protection over the use of IMP321), STML +10.5% (announced top-line results from the lead-in stage of its BPDCN trial, demonstrating an acceptable safety profile, with no cumulative side effects), BIOD +6.4% (announces the intended presentation of its ultra-rapid-acting/basal insulin and glucagon product candidates), RST +5.8% (move attributed to PE interest), CCXI +5.1% (announces presentation of 52-week data from the company's Phase II clinical trial in patients with diabetic nephropathy with CCX140), APRI +3% (announces launch of its topical treatment for Erectile Dysfunction in France by Laboratoires Majorelle ), STNG +3% (announces a new $250 mln share repurchase program, and that it has recently taken delivery of an MR product tanker), STV +2.2% (China Digital TV and Tongda Venture co-invest in fund targeting digital radio and television investments), MNGA+2.1% (says that a major construction company based in California has selected MagneGas fuel to replace acetylene and has placed their first order), DDD +1.2% (cont strength, may be related to M&A rumors)
Analyst comments: BV +3.4% (initiated with a Buy at Needham; tgt $9), KGC +1.7% (upgraded to Buy at UBS), HAL +0.9% (initiated with an Overweight at JP Morgan), AVGO +0.8% (upgraded to Buy from Hold at Jefferies)
In reaction to strong earnings/guidance: MX +9.4%, GHM +8%, GME +6.9%, BOOT +5.5%, BIG +3.8%, BLOX +2.6%, ULTA +2.4%
M&A news: ALTR +6.6% (NYPost article saying that Intel (INTC) is close to a $15 bln deal to buy Altera, for as much as $54/share)
Select small cap biotech/pharma related names showing strength ahead of ASCO: OPXA +9.8%, ONTY +4.1%, HALO +1.8%
Other news: HRTX +37.9% ( announces positive, top-line results from its recently completed Phase 3 MAGIC study; the study's primary endpoint was achieved), PBMD +17.4% (announces an update on its lead product, IMP321, stating that it has filed for patent protection over the use of IMP321), STML +10.5% (announced top-line results from the lead-in stage of its BPDCN trial, demonstrating an acceptable safety profile, with no cumulative side effects), BIOD +6.4% (announces the intended presentation of its ultra-rapid-acting/basal insulin and glucagon product candidates), RST +5.8% (move attributed to PE interest), CCXI +5.1% (announces presentation of 52-week data from the company's Phase II clinical trial in patients with diabetic nephropathy with CCX140), APRI +3% (announces launch of its topical treatment for Erectile Dysfunction in France by Laboratoires Majorelle ), STNG +3% (announces a new $250 mln share repurchase program, and that it has recently taken delivery of an MR product tanker), STV +2.2% (China Digital TV and Tongda Venture co-invest in fund targeting digital radio and television investments), MNGA+2.1% (says that a major construction company based in California has selected MagneGas fuel to replace acetylene and has placed their first order), DDD +1.2% (cont strength, may be related to M&A rumors)
Analyst comments: BV +3.4% (initiated with a Buy at Needham; tgt $9), KGC +1.7% (upgraded to Buy at UBS), HAL +0.9% (initiated with an Overweight at JP Morgan), AVGO +0.8% (upgraded to Buy from Hold at Jefferies)
Gapping down
In reaction to disappointing earnings/guidance: GEF -10.2%, VEEV -8.6%, PSUN -7%, QADA -5.2%, GCO -4.1%, FRO -3.9%, NBG -3.7%, SPLK -2.3%, DECK -2.2%, PLUS -1.8%
Other news: GEVO -3.6% (pulling back after late day move yesterday), CYBR -3.1% (files a registration statement for a follow-on offering of common stock), YGE -2.9% (acknowledges awareness of a class action lawsuit against the company, and after reviewing the claims believes they are without merit), SYT -2.1% (cont volatility surround M&A chatter), MEET -2% (disclosed that Richard Friedman resigned as Chief Technology Officer effective as of July 3, 2015), SD -1.7% (priced upsized offering of offering of $1.25 bln of 8.75% senior secured notes due 2020),, AZN -1.3% (AstraZeneca and Eli Lilly (LLY) enter into a clinical trial collaboration to evaluate the safety and preliminary efficacy of MEDI4736 in combination with ramucirumab)
Analyst comments: HIMX -2% (downgraded to Sell from Neutral at Chardan Capital Markets), ARCB -1.9% (downgraded to Underperform from Neutral at BofA/Merrill), URI -1% (downgraded to Underperform from Neutral at BofA/Merrill), ALDW -0.9% (reinstated with an Underweight at Barclays), POT -0.7% (downgraded to Hold from Buy at TD Securities)
In reaction to disappointing earnings/guidance: GEF -10.2%, VEEV -8.6%, PSUN -7%, QADA -5.2%, GCO -4.1%, FRO -3.9%, NBG -3.7%, SPLK -2.3%, DECK -2.2%, PLUS -1.8%
Other news: GEVO -3.6% (pulling back after late day move yesterday), CYBR -3.1% (files a registration statement for a follow-on offering of common stock), YGE -2.9% (acknowledges awareness of a class action lawsuit against the company, and after reviewing the claims believes they are without merit), SYT -2.1% (cont volatility surround M&A chatter), MEET -2% (disclosed that Richard Friedman resigned as Chief Technology Officer effective as of July 3, 2015), SD -1.7% (priced upsized offering of offering of $1.25 bln of 8.75% senior secured notes due 2020),, AZN -1.3% (AstraZeneca and Eli Lilly (LLY) enter into a clinical trial collaboration to evaluate the safety and preliminary efficacy of MEDI4736 in combination with ramucirumab)
Analyst comments: HIMX -2% (downgraded to Sell from Neutral at Chardan Capital Markets), ARCB -1.9% (downgraded to Underperform from Neutral at BofA/Merrill), URI -1% (downgraded to Underperform from Neutral at BofA/Merrill), ALDW -0.9% (reinstated with an Underweight at Barclays), POT -0.7% (downgraded to Hold from Buy at TD Securities)
RTRS - FIAT CHRYSLER CHAIRMAN SAYS CEO'S EMAIL TO GM WAS NOT THE ONLY ONE, DISCUSSIONS WITH OTHER PLAYERS ALSO TOOK PLACE
*DJ Lilly And AstraZeneca To Collaborate On Immuno-Oncology Combination Clinical Trial In Solid Tumors