Bonds Quietly Mixed

Bonds Quietly Mixed

U.S. Treasuries reversed early gains Wednesday put continued to churn pinned into tight ranges in light volumes ahead of the 10-year note auction (1 p.m. ET). Participants are cautiously optimistic into the sale after Tuesday’s three-year Treasury offering beat expectations, but attention will be focused on equities for general direction. New corporate supply is also expected to keep a cap on prices into the 10-year. The 30-year recently traded xxx […]

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Pfizer Partnering With Scripps Research Institute

Pfizer Partnering With Scripps Research Institute

Pfizer is partnering with The Scripps Research Institute, a non-profit biomedical research institute, to pioneer DNA-encoded library (DEL) technology to assist with early stage drug discovery research. Under the terms of the collaboration, Pfizer will pay a technology access fee to gain access to chemical synthesis technology developed at The Scripps Institute. Members of Scripps’ chemistry department will work alongside Pfizer scientists to adapt these chemical methods for use in […]

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KemPharm Reports Positive Results from Trial

KemPharm Reports Positive Results from Trial

KemPharm has reported positive results from a study to assess KP511 Active Pharmaceutical Ingredient (API) compared to equivalent doses of hydromorphone hydrochloride (HM API). KP511 is KemPharm’s investigational prodrug of hydromorphone to treat pain. The company said that KP511 demonstrated statistically significant reduction in peak and overall hydromorphone exposure with KP511 API versus HM API. “This study provides very strong preliminary evidence that KP511 imparts significant potential for deterring intranasal […]

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Walt Disney CFO Expects Modest Earnings Growth in 2017

Walt Disney CFO Expects Modest Earnings Growth in 2017

Speaking at the Citi Internet, Media and Telecommunications Conference in Las Vegas, Walt Disney CFO Christine McCarthy said that she expects “modest earnings growth” in 2017 with programming costs projected to rise 8%, largely a result of ESPN’s new NBA deal. McCarthy added that the company expects to launch direct-to-consumer ESPN service in 2017 but it will not be a replacement to the ESPN linear networks. Turning to the movie […]

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Tesla Motors Starts Mass Production of Battery Cells at Gigafactory

Tesla Motors Starts Mass Production of Battery Cells at Gigafactory

Tesla Motors has started mass production of lithium-ion battery cells at its Gigafactory, kicking off output of the key component for its Model 3 electric car after the company said a day earlier its 2016 deliveries were shy of estimates. The Elon Musk-helmed firm said the batteries will also be used in its energy storage devices, according to a statement on Wednesday. The cells were designed along with Panasonic “to […]

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Bonds Further Pare Losses

Bonds Further Pare Losses

U.S. Treasuries clawed back some additional ground late Tuesday, recovering from early pressure due to higher global inflation and manufacturing data. The market rode-out a run of corporate debt offerings being added to the calendar while seeing support as stocks churned off the lows. As expected, corporate bond offerings picked up Tuesday, with several large deals added, including BNB Paribas’ $1.75 billion seven-year note. FedEx has a $1.2 billion in […]

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Euro Knocked Off 1.05 vs Dollar

Euro Knocked Off 1.05 vs Dollar

The U.S. dollar has been taking back some lost ground against the euro and the British pound, but the absence of any significant market moving news coupled with pre-holiday torpor is translating into mostly range-bound trading for the dollar pairs. The euro challenged 1.0500 just ahead of the European close, but was blocked by resistance that has been building from 1.0458 to 1.0483. As a result, the euro was returned […]

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European Equity Benchmarks Close Mixed

European Equity Benchmarks Close Mixed

Broad-based major European indices closed mixed in Wednesday’s trading session, with the London exchange closing higher, while its continental counterparts ended the day flat. In economic news, growth in the U.K. housing market is expected to slow down in 2017, according to a report from Halifax, Britain’s biggest mortgage lender. “House prices in relation to average earnings are at an historical high in the capital,” said Halifax housing economist Martin […]

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CSRA Subsidiary DynPort Wins Contract

CSRA Subsidiary DynPort Wins Contract

CSRA subsidiary, DynPort Vaccine Company, won a contract from the National Institute of Allergy and Infectious Diseases to oversee a variety of medical product development projects, the company said Tuesday. The contract, which has indefinite quantity and delivery parameters, is valued at $159 million and has a performance period of up to 10 years. DynPort will develop processes, testing methods, manufacturing systems and regulatory services to aid in the development […]

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Hertz Global Seals Exclusive Deal

Hertz Global Seals Exclusive Deal

Hertz Global said pre-market Thursday it sealed a two-year agreement to become the exclusive car rental service provider to Hong Kong-based carrier Cathay Pacific. As part of the agreement, Hertz launched a specialized website to provide the airline’s passengers with access to a broad range of vehicles and deals at approximately 10,000 locations around the world. Hertz also said Cathay Pacific passengers will receive an automatic 5% discount on a […]

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Small Gains for Energy Stocks

Small Gains for Energy Stocks

Energy stocks were edging higher today, with the NYSE Energy Sector Index rising about 0.3% while shares of energy companies in the S&P 500 were up about 0.1% as a group. Crude oil for February delivery was up about 17 cents at $53.23 per barrel while January natural gas futures were 12 cents lower at $3.27 per 1 million BTU. In company news, Willbros Group (WG) shares rose Tuesday after […]

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Middle East Shares Mixed

Middle East Shares Mixed

MidEast stocks were mixed, with Egypt jumping to an eight-year high as the Egyptian pound fell against the U.S. dollar. The decline spurred foreign investors to buy more Egyptian shares. Further support came after Banque Misr signed a memorandum of understanding with Industrial and Commercial Bank of China for a $500 million loan aimed at increasing dollar liquidity and financing joint Egyptian-Chinese projects. ┬áIn company news, Saudi Basic Industries announced […]

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Euro Region Trade Surplus With Rest of Globe Narrows in October

Euro Region Trade Surplus With Rest of Globe Narrows in October

The 19-nation euro region’s trade surplus with the rest of the world narrowed in October as exports declined more than imports, Eurostat, the European Union’s statistics office, said on Friday. The trade surplus was 20.1 billion euros ($21 billion) in October, shrinking from a surplus of 23.2 billion euros a year earlier. Exports fell 5% in October from a year earlier to 172.5 billion euros while imports fell 3% to […]

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Asian ADRs Move Lower in Thursday Trading

Asian ADRs Move Lower in Thursday Trading

American depository receipts of Asian stocks were trading 0.33% lower at 145.22 on the Bank of New York Mellon Asia ADR Index on Thursday. In North Asia, the gainers were led by solar park operator Sky Solar Holdings (SKYS), and solar energy company Hanwha Q Cells (HQCL), which rose 3.2% and 2.7% respectively. They were followed by online game developer Gravity (GRVY), up 1.8%, and China Online Education (COE), a […]

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RedHill Biopharma Up 2%

RedHill Biopharma Up 2%

Shares of RedHill Biopharma were up 2% Wednesday morning after the company together with Canadian drug discovery firm IntelGenx sealed an deal with Pharmatronic to commercialize Rizaport in South Korea. Rizaport is an oral thin formulation of rizatriptan indicated for the treatment of acute migraines. Under the terms of the deal, RedHill granted Pharmatronic exclusive rights to register and market the treatment in South Korea. RedHill said it and IntelGenx […]

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Health Care Stocks Still Adding to Earlier Gains

Health Care Stocks Still Adding to Earlier Gains

Health care stocks were higher again Tuesday, with the NYSE Health Care Index rising nearly 0.8% while shares of health care companies in the S&P 500 were up 0.8% as a group. In company news, CytRx Corp (CYTR) shares dropped to a record low on Tuesday after the biotech company working on a new cancer treatment priced an $8.1 million private placement of nearly 19.3 million shares of its common […]

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Health Care Stocks Moderately Higher Again Today

Health Care Stocks Moderately Higher Again Today

Health care stocks were extending their gains from late last week, with the NYSE Health Care Index posting a 0.5% advance while shares of health care companies in the S&P 500 were up 0.4% as a group. In company news, shares of Alliance HealthCare Services (AIQ) were surging Monday after the outsourced health care services company said Tahoe Investment Group was interested in acquiring all of the company’s stock it […]

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Coca-Cola Company Says COO Quincey to Take Reins as Chief Executive Starting in May

Coca-Cola Company Says COO Quincey to Take Reins as Chief Executive Starting in May

Coca-Cola Company said Friday that Chief Operating Officer James Quincey will take over as the company’s chief executive on May 1. Quincey will replace Muhtar Kent, who has been CEO for the past eight years, the company said. Quincey was named COO of the company in August 2015. Earlier this year he implemented a new international operating structure and leadership team to “make the company more efficient and effective at […]

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BioDelivery Shares Jump 9% Pre-Bell

BioDelivery Shares Jump 9% Pre-Bell

BioDelivery shares were higher nearly 9% in recent pre-market trade after the company said it has agreed to reacquire the license to Belbuca buccal film from Endo Pharmaceuticals (ENDP), effectively terminating the license agreement between the two firms. As a result of the agreement, which is effective Jan. 6, BioDelivery reacquires worldwide rights to Belbuca. The companies, however, noted that the total cost of the transaction won’t be material to […]

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Bonds Trim Early Gains

Bonds Trim Early Gains

U.S. Treasuries rallied pushing yields lower globally overnight, even as equities aimed higher, in part on hopes of further stimulus from the European Central Bank (ECB) Thursday. The U.K.Gilt is leading the move in core yields, down 4 basis points to 1.374%, while the Treasury note slid to near 2.36% from 2.39%. The FTSE is also pacing the rally in equities as Sterling has fallen to 1.2578. October production from […]

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Stocks Trade Marginally Higher in US Intraday as Telecoms, Financials Advance

Stocks Trade Marginally Higher in US Intraday as Telecoms, Financials Advance

Stocks in the US were making slight moves higher on Tuesday afternoon, with telecoms and financials adding support on the Standard & Poor’s 500 while the Dow Jones Industrial Average saw just over half of its components advance. Goldman Sachs (GS) and Verizon (VZ) both rose about 1.4% as their respective sectors increased. AT&T (T) gained 1.5% and Wells Fargo (WFC) increased 1.4%. On the S&P 500, seven of the […]

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Zogenix Reports Positive Data for ZX008

Zogenix Reports Positive Data for ZX008

Zogenix, a pharmaceutical company, has reported positive data demonstrating the effectiveness and cardiovascular-related safety for ZX008 to treat seizures associated with Lennox Gastaut Syndrome (LGS). The company also reported continued effectiveness and safety for patients with Dravet syndrome. “These initial data indicate that ZX008 has the potential to be a safe and effective adjunctive treatment for this rare pediatric epilepsy condition,” said Lieven Lagae, lead investigator of the trial. LGS […]

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European Equity Benchmarks Close Lower

European Equity Benchmarks Close Lower

The broad-based major European indices closed lower in Friday’s trading session, as banks and automotive stocks weighed down the markets. In economic news, Eurostat, the statistical office of the European Union, reported that industrial producer prices rose 0.8% in the euro area (EA19), 1% in the EU28 in October, compared with September. Compared with October of 2015, industrial producer prices fell 0.4% in the euro area, and grew 0.2% in […]

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Bonds Tumble as Data Improves

Bonds Tumble as Data Improves

U.S. Treasuries stalled below the high yield/low price levels in the wake of the strong headline ADP private payrolls print, which was tempered somewhat by the steep downward back revision. Though the surge in oil prices boosted yields overnight with the apparent OPEC deal, month-end forces could cap the rise in yields for now with the big index extension into the close. The long bond led the complex lower as […]

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Babcock & Wilcox Subsidiary Awarded $40 Million Contract

Babcock & Wilcox Subsidiary Awarded $40 Million Contract

Babcock & Wilcox Enterprises said late Tuesday that its Denmark-based subsidiary, Babcock & Wilcox Volund A/S has been awarded a contract for nearly $40 million to design a waste-to-energy boiler for Shenzhen Energy Environmental Engineering Co. Ltd. in Shenzhen, Guangdong Province, China. The plant will provide a long-term, proven waste management solution for the region while generating clean, renewable energy. Fueled by up to 5,600 tons of municipal waste a […]

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