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NVS

Novartis

$88.05 /

+3.59 (+4.25%)

, QGEN

Qiagen

$38.32 /

-0.155 (-0.40%)

14:53
05/24/19
05/24
14:53
05/24/19
14:53

FDA approves Novartis' Piqray for breast cancer

The U.S. Food and Drug Administration approved Piqray tablets, to be used in combination with the FDA-approved endocrine therapy fulvestrant, to treat postmenopausal women, and men, with hormone receptor-positive, human epidermal growth factor receptor 2-negative, PIK3CA-mutated, advanced or metastatic breast cancer, as detected by an FDA-approved test, following progression on or after an endocrine-based regimen. The FDA also approved the companion diagnostic test, therascreen PIK3CA RGQ PCR Kit, to detect the PIK3CA mutation in a tissue and/or a liquid biopsy. Patients who are negative by the therascreen test using the liquid biopsy should undergo tumor biopsy for PIK3CA mutation testing. "Piqray is the first PI3K inhibitor to demonstrate a clinically meaningful benefit in treating patients with this type of breast cancer. The ability to target treatment to a patient's specific genetic mutation or biomarker is becoming increasingly common in cancer treatment, and companion diagnostic tests assist oncologists in selecting patients who may benefit from these targeted treatments," said Richard Pazdur, M.D., director of the FDA's Oncology Center of Excellence and acting director of the Office of Hematology and Oncology Products in the FDA's Center for Drug Evaluation and Research. The FDA granted this application Priority Review designation. The FDA granted approval of Piqray to Novartis (NVS). The FDA granted approval of the therascreen PIK3CA RGQ PCR Kit to QIAGEN Manchester (QGEN).

NVS

Novartis

$88.05 /

+3.59 (+4.25%)

QGEN

Qiagen

$38.32 /

-0.155 (-0.40%)

  • 24

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  • 31

    May

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    Jun

  • 06

    Aug

NVS Novartis
$88.05 /

+3.59 (+4.25%)

05/17/19 FBCO
Alcon off to 'solid start' post-Novartis spin, says Credit Suisse
05/20/19 RBCM
RBC says posting hints at Zolgensma label potentially positive for PTC, Biogen
05/20/19 FBCO
Regeneron initiated with a Neutral at Credit Suisse
05/24/19 FBCO
Zolgensma label breadth on higher end of expectations, says Credit Suisse
QGEN Qiagen
$38.32 /

-0.155 (-0.40%)

02/05/19 PIPR
Qiagen's 2020 revenue guidance appears 'reasonable,' says Piper Jaffray
03/15/19 UBSW
Qiagen initiated with a Neutral at UBS

TODAY'S FREE FLY STORIES

Periodicals
Daimler plans to make 50,000 Mercedes EQC cars in 2020, Reuters reports » 14:25
01/23/20
01/23
14:25
01/23/20
14:25
DDAIF

Daimler AG

$0.00 /

+ (+0.00%)

Daimler said it intends…

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Options
Zynga call volume above normal and directionally bullish » 14:25
01/23/20
01/23
14:25
01/23/20
14:25
ZNGA

Zynga

$6.41 /

-0.1 (-1.54%)

Bullish option flow…

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Conference/Events
Citigroup municipal strategists to hold analyst/industry conference call » 14:25
01/23/20
01/23
14:25
01/23/20
14:25

Municipal Securities…

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Earnings
Notable companies reporting before tomorrow's open » 14:22
01/23/20
01/23
14:22
01/23/20
14:22
AXP

American Express

$131.16 /

-0.4 (-0.30%)

, NEE

NextEra Energy

$259.78 /

-0.07 (-0.03%)

, SYF

Synchrony

$36.16 /

-0.265 (-0.73%)

Notable companies…

Notable companies reporting before tomorrow's open, with earnings consensus, include NextEra Energy (NEE), consensus $1.50... American Express (AXP), consensus $2.01... Synchrony (SYF), consensus $1.07.

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Earnings
Notable companies reporting after market close » 14:21
01/23/20
01/23
14:21
01/23/20
14:21
ETFC

E-Trade

$46.05 /

-0.46 (-0.99%)

, SWKS

Skyworks

$127.80 /

+2.8 (+2.24%)

, DFS

Discover

$85.51 /

+0.145 (+0.17%)

, ISRG

Intuitive Surgical

$610.29 /

+0.06 (+0.01%)

, INTC

Intel

$63.49 /

+0.7 (+1.11%)

Notable companies…

Notable companies reporting after the market close, with earnings consensus, include Intel (INTC), consensus $1.25... Intuitive Surgical (ISRG), consensus$3.38... Discover Financial (DFS), consensus $2.24... Skyworks (SWKS), consensus $1.65... E-TRADE (ETFC), consensus 83c.

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On The Fly
Piper lists 10 strategic M&A opportunities for Microsoft in 'defining' 2020 » 14:19
01/23/20
01/23
14:19
01/23/20
14:19
MSFT

Microsoft

$166.14 /

+0.44 (+0.27%)

, TWLO

Twilio

$120.89 /

+1.8 (+1.51%)

, WDAY

Workday

$184.00 /

+1.42 (+0.78%)

, CRM

Salesforce

$183.39 /

+0.67 (+0.37%)

, RNG

RingCentral

$197.85 /

+2.68 (+1.37%)

, ZEN

Zendesk

$86.21 /

+0.975 (+1.14%)

, COUP

Coupa Software

$164.92 /

-2.57 (-1.53%)

In a research note to…

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Earnings
Fly Intel: What to watch in credit card space earnings reports » 14:18
01/23/20
01/23
14:18
01/23/20
14:18
AXP

American Express

$131.19 /

-0.37 (-0.28%)

, V

Visa

$206.88 /

-1 (-0.48%)

, MA

MasterCard

$323.60 /

-0.8 (-0.25%)

American Express (AXP),…

American Express (AXP), MasterCard (MA), and Visa (V) are scheduled to report quarterly results on January 24, 29, and 30, respectively. What to watch for: 1. OUTLOOKS: During the company's last earnings call, American Express said it sees fourth quarter revenue growth up 8%-10%, and backed fiscal year 2019 adjusted earnings per share view of $7.85-$8.35, with consensus at $8.12. The company also said it sees double-digit earnings per share growth in fiscal year 2019, fiscal year 2020 adjusted earnings per share growth in the mid-teens, and fiscal year 2020 revenue growth low double digits. Meanwhile, back in October, MasterCard said it sees fiscal year 2019 revenue growth at "high end of low teens," fiscal year 2019 tax rate of approximately 18%, fiscal year 2019 adjusted OpEx growth in the "high end of single-digits," and fourth quarter adjusted OpEx growth in the "high single-digits." 2. FTC INVESTIGATION: In a regulatory filing, Visa confirmed that on November 4, 2019, the Bureau of Competition of the United States Federal Trade Commission requested that Visa provide, on a voluntary basis, documents and information for an investigation as to whether Visa's actions inhibited merchant choice in the selection of debit payments networks in potential violation of the Durbin Amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act. According to a report by Bloomberg, both Visa and MasterCard have drawn an inquiry by U.S. antitrust regulators over policies that can prohibit merchants from routing card transactions over alternative debit networks. At issue is whether the card companies and big debit card issuers are blocking retailers from routing certain mobile wallet payments and tap-to-pay transactions over alternative networks such as Pulse, NYCE and Star, sources told Bloomberg. 3. PLAID ACQUISITION: Last week, Visa announced it has signed a definitive agreement to acquire Plaid, for a total purchase consideration of $5.3B. The transaction is subject to regulatory approvals and other customary closing conditions. Visa will fund the transaction from cash on hand and debt issuance at the appropriate time. This transaction will have no impact on Visa's previously announced stock buyback program or dividend policy. The transaction is expected to close in the next three to six months. 4. DIVIDEND INCREASE: Mastercard announced late last year that its board had declared a quarterly cash dividend of 40c per share, a 21% increase over the previous dividend of 33c per share. The cash dividend will be paid on February 7, 2020 to holders of record of its Class A common stock and Class B common stock as of January 9, 2020. The board also approved a new share repurchase program, authorizing the company to repurchase up to $8B of its Class A common stock. The new share repurchase program will become effective at the completion of the company's previously announced $6.5B program. The company has approximately $300M remaining under the current program authorization. 5. ATTRACTIVE VALUATION: In a research note to investors last week, William Blair analyst Robert Napoli reiterated an Outperform rating on American Express after reviewing the company's monthly data and trends in retail sales. The analyst believes valuation for the stock is "attractive given outlook and relative metrics to S&P 500." While some investors seem concerned about 2020 guidance, Napoli noted that management is confident in its outlook for 8%-10% revenue growth and double-digit EPS growth in 2020.

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Technical Analysis
NASDAQ market internals summary » 14:17
01/23/20
01/23
14:17
01/23/20
14:17
$NSD

NASDAQ Market Internals

$0.00 /

+ (+0.00%)

Volume is above average…

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Technical Analysis
NYSE market internals summary » 14:16
01/23/20
01/23
14:16
01/23/20
14:16
$NYE

NYSE Market Internals

$0.00 /

+ (+0.00%)

Volume is average for…

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Periodicals
Regeneron tells Bloomberg to apply technologies to new coronavirus » 14:14
01/23/20
01/23
14:14
01/23/20
14:14
REGN

Regeneron

$357.08 /

-2.1 (-0.58%)

A Regeneron spokeswoman…

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General news
FX Action: USD-CAD » 14:10
01/23/20
01/23
14:10
01/23/20
14:10

FX Action: USD-CAD eased…

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Recommendations
Stifel says continues to recommend buying Netflix shares on pullbacks » 14:08
01/23/20
01/23
14:08
01/23/20
14:08
NFLX

Netflix

$341.73 /

+15.68 (+4.81%)

, CMCSA

Comcast

$45.75 /

-1.75 (-3.68%)

, CMCSK

Comcast

$0.00 /

+ (+0.00%)

Stifel analyst Scott…

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Options
Whiting Petroleum call volume above normal and directionally bullish » 14:05
01/23/20
01/23
14:05
01/23/20
14:05
WLL

Whiting Petroleum

$4.98 /

-0.095 (-1.87%)

Bullish option flow…

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Hot Stocks
HP says value creation not dependent on Xerox deal, blames Icahn for nominees » 14:01
01/23/20
01/23
14:01
01/23/20
14:01
HPQ

HP Inc.

$22.13 /

+0.2 (+0.91%)

, XRX

Xerox

$36.31 /

+ (+0.00%)

HP Inc. (HPQ) confirmed…

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Hot Stocks
Wells Fargo to determine if further action appropriate after OCC actions » 13:58
01/23/20
01/23
13:58
01/23/20
13:58
WFC

Wells Fargo

$48.32 /

-0.25 (-0.51%)

In response to actions…

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Hot Stocks
HP says Xerox buyout proposal 'significantly undervalues' company  13:57
01/23/20
01/23
13:57
01/23/20
13:57
HPQ

HP Inc.

$22.11 /

+0.185 (+0.84%)

, XRX

Xerox

$36.27 /

-0.04 (-0.11%)

 
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Hot Stocks
HP says Xerox board nominations 'self-serving tactic'  13:56
01/23/20
01/23
13:56
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13:56
HPQ

HP Inc.

$22.11 /

+0.185 (+0.84%)

, XRX

Xerox

$36.27 /

-0.04 (-0.11%)

 
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Recommendations
Blue Prism price target raised to 2,000 GBp from 1,710 GBp at Jefferies » 13:55
01/23/20
01/23
13:55
01/23/20
13:55
BPRMF

Blue Prism Group

$0.00 /

+ (+0.00%)

Jefferies analyst Julian…

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General news
FX Action: » 13:55
01/23/20
01/23
13:55
01/23/20
13:55

FX Action: USD-JPY fell…

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Hot Stocks
DOJ requires ZF, Wabco to divest Wabco steering components unit to complete deal » 13:53
01/23/20
01/23
13:53
01/23/20
13:53
WBC

Wabco

$135.51 /

+0.12 (+0.09%)

The Department of Justice…

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Periodicals
NIAID developing Gilead's remdesivir as coronavirus antiviral, Bloomberg says » 13:48
01/23/20
01/23
13:48
01/23/20
13:48
GILD

Gilead

$63.44 /

-0.06 (-0.09%)

A possible vaccine to…

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Hot Stocks
FDA highlights cybersecurity vulnerabilities in certain GE telemetry servers » 13:48
01/23/20
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13:48
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GE

General Electric

$11.69 /

+0.31 (+2.73%)

The Food and Drug…

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Recommendations
Karuna pullback on PureTech sale a buying opportunity, says Wells Fargo » 13:45
01/23/20
01/23
13:45
01/23/20
13:45
KRTX

Karuna Therapeutics

$98.59 /

-17.38 (-14.99%)

Wells Fargo analyst Jacob…

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  • 23
    Jan
Options
Novavax call volume above normal and directionally bullish » 13:45
01/23/20
01/23
13:45
01/23/20
13:45
NVAX

Novavax

$7.66 /

+0.58 (+8.19%)

Bullish option flow…

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Periodicals
NBC to produce four daily Tokyo 2020 Olympics shows for Snapchat, Variety says » 13:40
01/23/20
01/23
13:40
01/23/20
13:40
SNAP

Snap

$19.27 /

+0.19 (+1.00%)

Variety's Todd…

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