News Bulletin
Friday April 20, 2018
Evening Edition
Economic
Numbers
TIME |
DETAIL |
SURV |
PRIOR |
|
10:00 |
148.9 |
147.8 |
|
|
10:00 |
3.2% |
3.5% |
|
|
- |
- |
- |
|
|
- |
- |
- |
|
|
- |
- |
- |
|
|
- |
- |
- |
|
|
- |
- |
- |
|
Indices
|
CLOSE |
50 DMA |
200 DMA |
S&P 500 |
2,666.38 |
- |
- |
DJIA |
24,459.81 |
- |
- |
NASDAQ |
7,145.52 |
- |
- |
20th Apr, 2018 Market News
07:10 Ionis
Pharmaceuticals [IONS]
is up +8% premarket on light volume in
response to its new 10-year
collaboration with Biogen (NASDAQ:BIIB)
aimed at developing new antisense therapies for neurological disorders. Under
the terms of the deal, Biogen will pay Ionis $1B in cash, including $625M to purchase 11,501,153
shares of Ionis common stock at $54.34 per share and
a $375M upfront payment.
07:34 [GE] +5% after Q1 beat, reaffirming outlook : Adjusted EPS of $0.16, up 14% from the $0.14 reported in the same quarter a year ago. Strong performance was seen in Aviation, Healthcare, Renewables, Transportation, & Corporate, partly offset by lower Power, Oil & Gas, & GE Capital earnings. Adjusted free cash flow of $(1.7)B, +$1.1B versus Q1 in 2017. The conglomerate also reaffirmed guidance despite recording a reserve of $1.5B related to the WMC FIRREA investigation in discontinued operations.
08:42 Abeona Therapeutics [ABEO] is up +4% premarket on light
volume on the heels of its announcement that the European Medicines Agency has designated gene
therapy ABO-202 an Orphan Drug for the treatment of neuronal ceroid lipofuscinosis, known as Batten disease, a fatal inherited lysosomal
storage disorder that primarily affects the nervous system in children.
09:25 Atlassian [TEAM] is down -11.5% premarket in the wake of last night's earnings release, where it guided to current-quarter EPS of $0.12 per share, short of analyst consensus for $0.14/share. Following earnings, JMP Securities downgraded the stock to Market Perform from Outperform, tipping a generally even balance among analysts between Buy and Hold toward Hold.
10:36 SAGE Therapeutics [SAGE] (-7.4%) slumps on below-average volume. Investors apparently perceive diminished prospects for a deal with Biogen on the heels of its $1B deal with Ionis.
11:11 Akcea Therapeutics [AKCA] (+10%) is up on lower-than-normal volume on the heels of a new $200M investment from majority owner Ionis Pharmaceuticals (IONS +2.2%).
11:39 Nano cap VistaGen Therapeutics [VTGN] (-11.2%) continues its slide in apparent reaction to a study published in The American Journal of Psychiatrythat showed mixed results in major depressive disorder (MDD) patients treated with NMDA receptor antagonist esketamine
. Shares have sold off 20% since then.