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Juno Therapeutics Inc. shares were halted in pre-market trade Wednesday after the company said one patient in its cancer trial had died and one was “not expected to recover.” The two patients both experienced brain trauma earlier in the week during a phase 2 trial for a leukemia treatment, the company said. Two patients died in early July in the same clinical trial, but the company was allowed to resume the trial without the chemotherapy drug fludarabine, which Juno believed caused the deaths in combination with the company’s JCAR015 drug. This week, Juno put the trial on clinical hold, and said it is working with the Food and Drug Administration and the Data and Safety Monitoring Board, an independent expert advisory group, to “determine next steps.” The company said its other product candidates targeting the B Cell Specific Antigen CD19 won’t be affected. Juno shares have dropped 32.0% year-to-date, compared with a 7.8% rise in the S&P 500 .

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From:: Stock Market News

Shares of Deere & Co. surged 2.4% in premarket trade Wednesday toward a 15-month high, after the agricultural and construction equipment maker beat fiscal fourth-quarter profit and sales expectations. Earnings for the quarter to Oct. 31 fell to $285.3 million, or 90 cents a share, from $351.2 million, or $1.08 a share, in the same period a year ago. The FactSet consensus for earnings per share was 40 cents. Total revenue declined to $6.52 billion from $6.72 billion, but was above the FactSet consensus of $6.16 billion, as equipment sales fell 5%. Both agriculture and turf and construction and forestry sales fell 5%, but beat expectations. Looking ahead, the company expects equipment sales to slip 4% in the first quarter 1% for fiscal 2017. “The company in 2016 had one of its ten-best years in both sales and earnings, a noteworthy achievement in light of the difficult business climate,” said Chief Executive Samuel Allen. “Deere’s performance benefited from the adept execution of its operating plans and disciplined cost management as well as the impact of a broad product portfolio.” The stock has soared 21% year to date through Tuesday, while the S&P 500 has gained 7.8%.

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From:: Stock Market News

Eli Lilly and Co. shares tumbled 14% in premarket trade Wednesday, after the company said a late-stage trial of a treatment for dementia in patients with Alzheimer’s Disease failed to meet its goal. The phase 3 trial of solanezumab failed to meet its primary endpoint, the company said in a statement. It will no longer pursue regulatory submissions for the drug. “The results of the solanezumab EXPEDITION3 trial were not what we had hoped for and we are disappointed for the millions of people waiting for a potential disease-modifying treatment for Alzheimer’s disease,” Chief Executive John C. Lechleiter, Ph.D., said in a statement. “We will evaluate the impact of these results on the development plans for solanezumab and our other Alzheimer’s pipeline assets.” The company expects to book a charge of 9 cents a share in the fourth quarter and will update its 2016 guidance and provide an outlook for 2017 on Dec. 15. Shares were down 10% for the year through Tuesday, while the S&P 500 has gained 7.8%.

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From:: Stock Market News

The American Petroleum Institute late Tuesday reported a fall of 1.3 million barrels in U.S. crude supplies for the week ended Nov. 18, according to sources. Analysts polled by S&P Global Platts expected stockpiles to be unchanged, while The Wall Street Journal survey of analysts and traders forecast a climb of 800,000 barrels. Sources also said the API showed an increase of 2.7 million barrels in gasoline inventories. “The gasoline build and the drop in crude [supply] is a sign refiners are coming out of maintenance. Gasoline demand continues to be near a record for this time of year and refiners want to get a jump on it,” said Phil Flynn, senior market analyst at Price Futures Group. Supply data from the Energy Information Administration will be released Wednesday. December crude was at $47.90 a barrel in electronic trading, below the contract’s settlement of $48.03 on the New York Mercantile Exchange.

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From:: Stock Market News

Madison Square Garden Co. said late Tuesday that hackers may have stolen payment card data over the course of a year from patrons that used them at its venues. The company said magnetic data on cards used at merchandise, food and beverage vendors at Madison Square Garden, The Theater at Madison Square Garden, Radio City Music Hall, Beacon Theatre and The Chicago Theatre from Nov. 9, 2015 to Oct. 24, 2016 may be affected. The breach did not affect sales at its websites, its box office sales, or sales through Ticketmaster, the company said. Madison Square Garden shares were up 0.3% at $173.50 after hours.

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From:: Stock Market News