Wheeler Real Estate Investment Trust, Inc. (
WHLR) announced that the Company has acquired
three properties located in North Carolina from a family-owned
group. The Company acquired the properties on August 21, 2015 using
a combination of cash and debt for a combined acquisition value of
$15.3 million
St. Jude Medical (
STJ) announced CE Mark approval for magnetic
resonance imaging conditional labeling for the company's Prodigy
MRI chronic pain system with select leads. In addition to the
approval of Prodigy MRI, all Octrode percutaneous and Penta
5-column paddle leads have received MR-conditional labeling and are
approved for use with Prodigy MRI?
Orbital ATK, Inc. (
OA) announced that it recently signed a contract
with Lockheed Martin (
LMT) to produce propellant and pressurant tanks
for Lockheed Martin's updated A2100 satellite platform. The
five-year contract continues a 20-year relationship between Orbital
ATK and Lockheed Martin for satellite fuel tanks produced by the
company's Space Systems Group?
8:56 am On the Wires (:WIRES):
PSEG Power, a subsidiary of Public Service Enterprise Group
Incorporated (
PEG) announced that Sewaren 7, a new 540-MW,
dual-fuel combined-cycle power plant has cleared PJM's Reliability
Pricing Model Base Residual Auction. PSEG Power will work to secure
permits and expects to begin construction on the highly-efficient
generating plant in early 2016. The plant, which represents an
investment of more than $600 million, is targeted to be completed
and supplying needed energy to New Jersey and the region in time
for summer of 2018
Hemispherx Biopharma, Inc. (
HEB) announced was recently informed by BioLife
Plasma Services, a subsidiary of major U.S. player Baxalta, that it
was, without cause, terminating its sole source contract with
Hemispherx prior to the termination date because it was departing
that particular area of its business being conducted under the
d/b/a Penn Plasma. The Hemispherx team stated that it has
aggressively moved to replace the Baxalta subsidiary, negotiating
for direct supply agreements with various Blood Centers around the
country to assure an uninterrupted supply of leukocytes to
manufacture Alferon. the first such contract has been entered with
Gulf Coast Regional Blood Center in Houston, TX?
Speed Commerce, Inc. (
SPDC) announced that TABcom, parent company of
Dog.com and Horse.com, has signed an agreement to extend
fulfillment and customer care services through 2019?
8:55 am S&P futures vs fair value: -69.50. Nasdaq futures vs
fair value: -202.90. (:WRAPX):
The S&P 500 futures trade 70 points below fair value.
Markets in the Asia-Pacific region were down big in a
continuation of Friday's selling on Wall Street and on continued
concerns about an economic slowdown in China. Notably, Chinese
authorities did not announce any new, direct monetary stimulus for
the Chinese market over the weekend, although the pension funds of
local governments were authorized to invest in the stock market for
the first time ever. That didn't make any difference as the
Shanghai Composite (-8.5%) suffered its worst single-day loss since
2007, sliding into negative territory for the year after being up
more than 50% for the year as recently as June.
In economic data:
Japan's Leading Index 106.5 (expected 107.2; prior 107.2)
Singapore's July CPI -0.4% year-over-year (expected -0.2%;
prior -0.3%)
------
Japan'sNikkei declined 4.6%, feeling the drag of
China's weakness and the strength of the yen on Japanese exporters.
The downturn was paced by the financials (-7.8%), consumer
discretionary (-5.6%), health care (-5.6%), and materials (-5.2%)
sectors. Central Japan Railways (-8.7%), Nippon Light Metal
Holdings Co (-8.7%), and Sumitomo Realty & Development Co
(-8.4%) were the biggest losers. Out of the 225 index members,
Sapporo Holdings (+2.7%) was the only stock to gain ground on
Monday.
Hong
Kong'sHang Seng declined 5.2%, taking its lead
from the mainland market. Kunlun Energy (-18.0%), Tingyi Cayman
Islands Holding (-10.9%), and CNOOC (-8.2%) led the way lower. Out
of the 50 index members, CITIC Ltd. (+0.3%) was the only stock to
finish with a gain.
China'sShanghai Composite plunged 8.5%, suffering
its biggest single-day loss since 2007. The selloff occurred in
spite of authorities giving the okay for pension funds of local
governments to invest in the stock market for the first time. The
Shanghai Composite, which had been up 54.6% for the year in June,
is now down 4.2% for the year.
Major European indices trade lower across the board with
France's CAC (-4.5%) leading the region lower. With continued
weakness in global equities, the euro has rallied more than 150
pips against the dollar to 1.1540 as investors continue unwinding
euro-based carry trades. Today's spike has extended the single
currency's four-day rally against the greenback to nearly 500
pips.
Investors did not receive any economic data today
------
UK'sFTSE is lower by 3.9% with all but one
component in the red. RSA Insurance has added 1.6% while miners
Anglo American, BHP Billiton, Glencore, Rio Tinto, and Fresnillo
down between 5.0% and 8.4%.
Germany'sDAX has tumbled 4.0% with all 30
components in the deep red. Financials Deutsche Bank and
Commerzbank are both down near 5.0% apiece while utilities RWE and
E.On trade at the bottom of the leaderboard with losses close to
6.3% apiece.
In France, the CAC has plunged 4.5% amid losses in
all 40 index members. Steelmaker ArcelorMittal is the weakest
component, down 7.7%, while exporters Renault and Peugeot show
losses close to 6.0%.
8:45 am Gapping down (:SCANX):
Briefing note:
With S&P Futures down 3% and Nasdaq Futures -5%, majority
of stocks are down this morning. The following summarizes some of
the most notable movers
Gapping down
In reaction to disappointing earnings/guidance:
MOBI-12%,
TOUR-5.6%
M&A news:
SO-1.6% (acquiring GAS)
Select fan favorites showing weakness:
FIT-14.5%,
SHAK-13.6%,
CYBR-13.5%,
GPRO-11.9%,
SWKS-11.9%,
FEYE-11.5%,
NFLX-10.1%,
MBLY-9.1%,
SBUX-7.5%,
PANW-7.5%,
SUNE-7.3%,
TSLA-7.1%,
TWTR-7.1%,
AAPL-6.5%
Select China related names showing weakness after Shanhai
was down 8.5% overnight:
NQ-21%,
BTU-18.5%,
QIHU-16%,
SFUN-14.1%,
WBAI-12.9%,
CSIQ-11.8%,
JD-10.2%,
BITA-9.6%,
BABA-9.1%,
CHL-8.5%,
SPWR-8.3%,
MGM-8.2%,
WUBA-8.1%,
SINA-8.1%
Select metals/mining stocks trading lower:
CLF-11.2%,
FCX-7.8%,
X-7%,
BHP-5.9%,
MT-5.7%
Select oil/gas related names showing early
weakness:
PACD-12.3%,
PBR-9.5%,
LINE-5.4%,
HAL-5.3%
Other news:
VTL-80.8% (nnounces that topline results of its
VTI-208 trial fail to achieve primary or secondary endpoints of
improvement in overall survival; ),
NBG-13.5% (cont uncertainty in Greece after snap
elections called),
DGLY-10.5% (Bloomberg reports that Sony (
SNE) is considering entering drone market),
RAD-9.7% (still checking),
ESLT-7% (still checking, but was awarded $27
million contract to supply command and control and artillery
systems to an Asia-Pacific Country),
HLT-6.1% (still checking),
GALE-5.2% (announces that the Independent Data
Monitoring Committee has recommended to GALE that it can reduce the
cardiac toxicity monitoring for patients in its NeuVax Phase 3
PRESENT clinical trial),
CIE-3.3% (to sell its 40% participating interest
in Blocks 21/09 and 20/11 offshore Angola for $1.75 bln to Empresa
Pblica),
ALKS-1.7% (announces that FDA has advised it will
not be able to complete its review of the New Drug Application for
ARISTADA for the treatment of schizophrenia)
Analyst comments:
WLL-10.7% (downgraded to Neutral at BofA/Merrill
),
SPLK-8.3% (downgraded to Hold at Summit Research),
GM-6.8% (resumed with a Underweight at Morgan
Stanley),
MRO-6.7% (downgraded to Neutral at BofA/Merrill ),
KGC-1.9% (downgraded to Underperform at RBC
Capital Mkts)
8:42 am European Markets Update: DAX -3.8%, FTSE -4.0%, CAC
-4.6% (:SUMRX):
Major European indices trade lower across the board with
France's CAC (-4.6%) leading the region lower. With continued
weakness in global equities, the euro has rallied more than 150
pips against the dollar to 1.1540 as investors continue unwinding
euro-based carry trades. Today's spike has extended the single
currency's four-day rally against the greenback to nearly 500
pips.
Investors did not receive any economic data today
------
Germany'sDAX has tumbled 3.8% with all 30
components in the deep red. Financials Deutsche Bank and
Commerzbank are both down near 5.0% apiece while utilities RWE and
E.On trade at the bottom of the leaderboard with losses close to
6.3% apiece.
UK'sFTSE is lower by 4.0% with all but one
component in the red. RSA Insurance has added 1.6% while miners
Anglo American, BHP Billiton, Glencore, Rio Tinto, and Fresnillo
down between 5.0% and 8.4%.
In France, the CAC has plunged 4.6% amid losses in
all 40 index members. Steelmaker ArcelorMittal is the weakest
component, down 7.7%, while exporters Renault and Peugeot show
losses close to 6.0%.
8:35 am Gapping up (:SCANX):
Briefing note:
With S&P Futures down 3% and Nasdaq Futures down ~5%,
majority of stocks are down this morning.
Gapping up
In reaction to strong earnings/guidance: N/A.
M&A news:
GAS+7.3% (Southern Company (
SO) to Acquire AGL Resources (
GAS) in $12 Billion Transaction -- AGL
Resources' shareholders will be entitled to receive $66 in
cash)
Other news:
SPEX+22.5% (provided an update on its case
involving the company's NNPT subsidiary against Huawei),
OPXA+15.7% (cont strength from last week),
PPHM+7% (Peregrine Pharma and AstraZeneca (
AZN) form collaboration to focus on on
immuno-oncology combination clinical trial),
ACTS+3.1% (Action Semi to purchase for cash up to
48,000,000 of its issued and outstanding ordinary shares through a
Dutch Auction Tender Offer),
JOE+2.1% (tenders offer to purchase up to
16,666,666 shares of its outstanding common stock at a price of
$18.00 per share),
EPZM+1.1% (FDA has accepted the company's
investigational new drug (
IND) application for tazemetostat for the
treatment of adults and pediatric patients),.
Analyst comments:
N/A
8:32 am Bridgeline Digital names Ari Kahn as Chief Operating
Officer (
BLIN): Kahn was the co-founder of FatWire,
a content management and digital engagement company.
8:32 am Buckeye Partners that one of its operating subsidiaries,
Buckeye Pipe Line Transportation LLC, has executed Transportation
Services Agreements with all committed customers for its
Michigan/Ohio Pipeline Expansion Project (
BPL): Co announced that one of its
operating subsidiaries, Buckeye Pipe Line Transportation LLC, has
executed Transportation Services Agreements with all committed
customers for its Michigan/Ohio Pipeline Expansion Project. Buckeye
had previously announced the successful completion of an open
season for the Project.
Project completion is scheduled for the second half of
2016.
8:31 am HEICO completes two acquisitions, in addition to one
announced last week, expecting both completed acquisitions to be
accretive to its earnings within the first year after the closing (
HEI):
?Co ?announces that it has completed two acquisitions, in
addition to one announced last week. Both purchases were made for
cash, but other transaction terms and financial details were not
disclosed.
HEICO stated that it expects both acquisitions to be accretive
to its earnings within the first year after the closing.
8:31 am Halozyme Therapeutics named Michael LaBarre, Ph.D. as
chief scientific officer, succeeding Michael Shepard, who was
appointed a Research Fellow for the company (
HALO): Prior to joining Halozyme in 2008,
he served as vice president, product development at Paramount
BioSciences ; director, analytical and protein biochemistry,
discovery research at Biogen Idec; and director analytical and
formulation sciences, research and development at IDEC
Pharmaceuticals.
8:30 am Argos Therapeutics awarded patent for its experimental
individualized immunotherapy for the treatment of HIV infection (
ARGS): Co announces that it has been issued
US Patent No. 9,085,807 which relates to the company's AGS-004
product, which is currently being evaluated in an investigator
initiated phase 2 clinical trial for the treatment of HIV
infection. The patent will expire in 2026, excluding any possible
patent term extensions. The ability of Argos' strain-independent
amplification technology to produce large amounts of the vast array
of variants from a small amount of blood or plasma allows the
production of individualized immunotherapies matched to each
patient's viral 'swarm. This technology is used to manufacture
AGS-004, an experimental immunotherapy for HIV?.
8:30 am Exelixis: FDA grants breakthrough therapy designation to
Cabozantinib; Plans to complete submission of Cabozantinib US NDA
for advanced rcc in 2015 (
EXEL):
Co announced the FDA has granted Breakthrough Therapy
Designation to cabozantinib, Exelixis' lead compound, as a
potential treatment for patients with advanced renal cell carcinoma
who have received one prior therapy.
Cabozantinib is currently marketed in capsule form under the
brand name COMETRIQ in the United States for the treatment of
progressive, metastatic medullary thyroid cancer, and in the
European Union for the treatment of adult patients with
progressive, unresectable locally advanced or metastatic MTC.
"Following the positive top-line results announced in July and
a productive dialogue with the FDA, Exelixis believes we can
expedite our regulatory timelines and complete the cabozantinib NDA
submission in advanced RCC prior to the end of 2015."
8:29 am European Yields (
BONDX):
Euro Touches 6-Month High
The single currency has rallied five cents over the past four
trading days as carry trades, which seek to profit from interest
rate spreads during periods of stable exchange rates (the spread
between higher-yielding Asian currencies and German Bunds, in this
case), are being unwound in dramatic fashion. There was little news
flow overnight, except for dramatic price swings in many asset
classes. The Shanghai Composite fell 8.5% to 3,210 as the 3,500
level gave way, and European and U.S. equity indices fell as well.
The flight to quality in European sovereign debt has not been
extreme, with the German 10-yr Bund yield dropping only 2 bps to
0.56%
France will auction off 3,6, and 12-month BTFS at 09:00 ET
Yield Check:
France, 10-yr OAT: -1 bp to 0.94%
Germany, 10-yr Bund: -2 bps 0.56%
Greece, 10-yr note: +25 bps to 9.78%
Italy, 10-yr BTP: +5 bps to 1.90%
Portugal, 10-yr note: +5 bps to 2.68%
Spain, 10-yr ODE: unch at 2.02%
U.K., 10-yr Gilt: -6 bps to 1.65%
8:28 am S&P futures vs fair value: -64.30. Nasdaq futures vs
fair value: -202.90. (:WRAPX):
Equity futures have not been able to find any solid footing,
falling to fresh pre-market lows in recent action. As a result,
S&P 500 futures (-64 vs fair value) are now down nearly 3.5%
while Nasdaq futures are flirting with a 5.0% decline in pre-market
after being halted for volatility.
The global equity plunge has extended into the commodity market
with crude oil trading lower by 4.2% at $38.75/bbl. Meanwhile,
Treasuries remain near their recently-established highs with the
10-yr yield down six basis points at 1.99%.
8:23 am On the Wires (:WIRES):
Presbia PLC...
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