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Celgene Corporation stock price
Celgene Corporation latest news:
BRIEF-Celgene Corp updates on court order at request of Canadian Competition Bureau - SEC filing
* Celgene Corp says in Aug, co received an order issued by
the Federal Court in Ottawa, Ontario, Canada at request of
Canadian Competition Bureau
Dow, S&P 500 close higher; biotech weakness pressures Nasdaq
The Dow and S&P 500 ended higher on Thursday, supported by a steady stream of healthy earnings, though weakness in the biotechnology sector pressured the Nasdaq. The Dow Jones Industrial Average rose 71 points, or 0.3%, to 23,401. The S&P 500 added 3.3 points to 2,560, a gain of 0.1%. The Nasdaq Composite Index ended down 7 points, or 0.1%, at 6,557. The Nasdaq's weakness came as biotech shares sold off sharply. The iShares Nasdaq Biotechnology ETF lost 2.3% after Celgene Corp. reported disappointing results and cut its outlook. Celgene shares ended 16% lower. On the upside, Twitter Inc. rose 20% on the back of its results while Ford Motor Co. ended up 1%. The stocks of companies in the pharmaceutical supply chain dropped after a report that Amazon has obtained approval to become a wholesale distributor in a number of states. Rite Aid Corp. sank 6.2% while CVS Health Corp. was down 2.9%. CVS shares were also impacted by reports it would buy Aetna . Shares of Aetna ended 11.5% higher. Adding to the buying momentum, the House of Representatives passed a budget blueprint on Thursday, paving the way for the Senate to later pass a tax-reform package.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Celgene cuts 2020 outlook, Otezla sales disappoint; shares plunge
(Reuters) - Celgene Corp on Thursday reported third-quarter sales of its key psoriasis drug Otezla that badly missed expectations and significantly scaled down its 2020 targets for product sales and earnings, sending its shares tumbling 18 percent.
Dow advances at open; Celgene holds back S&P, Nasdaq
(Reuters) - The Dow Industrials forged ahead at the open on Thursday, driven by gains across sectors, but losses in Celgene held back the two other major Wall Street indexes in one of the busiest days of third-quarter earnings.
UPDATE: Celgene shares drop 15% on updated 2017 guidance
Celgene Corp. shares dropped 15% in premarket trade Thursday after the company reported a third-quarter profit beat and revenue miss and lowered its 2017 profit and revenue outlook. Earnings for the latest quarter rose to $988 million, or $1.21 per share, from $171 million, or $1.21 per share in the year-earlier period. Adjusted earnings-per-share were $1.91, above the FactSet consensus of $1.87. Revenue rose to $3.29 billion from $2.98 billion, below the FactSet consensus of $3.42 billion. Sales of Revlimid, Otezla, Abraxane and Vidaza came in below consensus, while sales of Pomalyst beat the consensus. Celgene also lowered its 2017 revenue and EPS guidance, bringing revenue guidance to about $13 billion, compared with previous guidance of $13 billion to $13.4 billion, and bringing EPS guidance down to $4.78 to $5.19, compared with previous guidance of $5.36 to $5.62. The company's updated 2017 revenue outlook is below the FactSet consensus of $13.23 billion, and its new 2017 EPS guidance is below the FactSet consensus of $5.33. Celgene also increased the lower end of its adjusted EPS guidance, bringing its 2017 EPS outlook to $7.30 to $7.35 from previous guidance of $7.25 to $7.35, compared with the FactSet consensus of $7.32. Celgene shares have dropped 13.2% over the last three months, compared with a 3.2% rise in the S&P 500 .Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Price Hikes Insulate Celgene From a Failure
A gap caused by a late-stage trial failure may be bridged by rising prices on the company's top-selling medicine.
BRIEF-Celgene says net pre-tax charge to Q4 earnings estimated to be $300 mln to $500 mln
* Celgene - concluded oct 18 will recognize q4 charge to
earnings related to impairment of about $1,600 million ged-0301
IPR&D asset - sec filing
Celgene shares drop after Crohn's disease drug trials halted
Celgene Corp. shares dropped in the extended session Thursday after the biotech company said it would discontinue two clinical trials for a Crohn's disease treatment and not start a third. Celgene shares fell 6.2% to $127.55 after hours, following a brief halt. Based on an analysis from a data monitoring committee assessing overall benefit and risk, Celgene said it would discontinue a late-stage clinical trial for the drug GED-0301 to treat Crohn's disease along with an extension trial. Crohn's disease is characterized by a chronic inflammation that can run the entirety of the digestive tract. Celgene said it will also not start a third late-stage clinical trial of the drug for Crohn's disease. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
BRIEF-Celgene provides update on GED-0301 (mongersen) inflammatory bowel disease program
* Celgene provides update on GED-0301 (mongersen)
inflammatory bowel disease program
Celgene Faces Multiple Clinical Holds From FDA
Biotech stocks surge on Gilead's Kite Pharma acquisition
After news of Gilead Sciences Inc.'s about $11 billion acquisition of Kite Pharma Inc. , Juno Therapeutics Inc. shares surged 16.3%, Bluebird Bio Inc. shares surged 9.7% and Cellectis SA ADR shares surged 11.8% in extremely heavy midday trade Monday. The Kite Pharma acquisition marks a large investment by Gilead into a cancer treatment called chimeric antigen receptor T-cell therapy, or CAR-T, which uses a patient's immune T-cells and re-engineers them to better fight cancer. Juno, Bluebird and Cellectis are other biotech companies working in CAR-T. BTIF analyst Dane Leone upgraded Juno on Monday, adding, "we continue to be skeptical of JUNO's current competitive positioning, but upgrade our ranking to Neutral from Sell, as there is not a near term catalyst to offset the positive tailwind for the entire CAR T space." Though there has been speculation about Celgene -- which owns about 10% of Juno's current shares outstanding -- acquiring Juno, "we would be surprised" by a full acquisition, Leone said, since "at this juncture with emerging overlap in Multiple Myeloma and third to market status in CD19 hematological malignancies, we struggle to find a rationale for Celgene wanting to fully own Juno." Kite Pharma shares surged 28% in extremely heavy morning trade. Shares have surged 144% over the last three months, compared with a 1% rise in the S&P 500 .Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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