Category: Stock Market News

The Federal Bureau of Investigation says it’s investigating a hack into the emails of the Democratic National Committee, which then surfaced on the website WikiLeaks. The FBI said it was investigating the nature and scope of the incident. “A compromise of this nature is something we take very seriously, and the FBI will continue to investigate and hold accountable those who pose a thread in cyberspace,” the bureau said. The hack, which showed DNC officials critical of the presidential campaign of Sen. Bernie Sanders, has been alleged to have come from Russia, though WikiLeaks has refused to identify the source of the material.

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Book retailer Barnes & Noble Inc. said on Monday “Harry Potter and the Cursed Child – Parts I & II” is the company’s most pre-ordered book since its 2007 predecessor “Harry Potter and the Deathly Hallows.” “Harry Potter and the Cursed Child” book has been marketed as the eighth book in the beloved series, and is a play based on an original story by J.K. Rowling, John Tiffany and Jack Thorne. The book of the play is set for release at midnight July 31 and the play, presented in two parts, opens in London’s West End July 30. The story picks up where the “Harry Potter and the Deathly Hallows” epilogue left off, 19 years after Harry Potter’s final year at Hogwarts.

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Ocular Therapeutix Inc. shares dropped 7.2% in morning trade Monday after the company said its lead product candidate failed to get Food and Drug Administration approval. The drug, Dextenza, is intended to treat ocular pain after ophthalmic surgery. The FDA did not identify concerns with the drug’s clinical data, instead citing concerns about deficiencies at a company manufacturing facility in its letter and saying that “satisfactory” resolution of those is required for drug approval, according to Ocular. The company said that it had previously responded to the FDA’s manufacturing concerns and that “we await completion of the review.” Ocular shares dropped 62.9% over the last three months, compared with a 4.0% rise in the S&P 500 .

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U.S. stocks on Monday opened slightly lower, pausing after logging Friday their fourth straight weekly gain. Investors were cautious ahead of a busy week that will see earnings kick into high gear and more than a dozen central banks, including the Federal Reserve, hold policy meetings. Among individual stocks, Verizon Communications Inc. fell after confirming it has agreed to buy Yahoo Inc. for $4.83 billion. And Sprint Corp. climbed after the telecommunications company reported fiscal first-quarter revenue that beat expectations. The Dow Jones Industrial Average lost 26 points, or 0.1%, to 18,543, the S&P 500 index fell 2 points, or 0.1% at 2,172, while the Nasdaq Composite Index lost 3 points, or 0.1%, to 5,097.

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Shares of Tobira Therapeutics Inc. lost about half their value in premarket trade Monday, after the company said a Phase 2b trial of its liver disease treatment missed its primary endpoint. The company said the treatment met one of two secondary endpoints, which regulators have recently identified as an endpoint for Phase 3 studies to support a marketing application. Tobira said the trial results still exceeded expectations, and that it plans to meet with regulators to discuss the Phase 3 study design. The stock plunged 49% to $5.69, putting it on track to open at an all-time low. Volume topped 140,000 ahead of the open, compared with the full-day average of about 118,000 shares, according to FactSet.

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Twitter Inc. is adding live streaming of Major League Baseball and National Hockey League out-of-market games to the platform, the company said Monday. Twitter also announced a partnership with 120 Spots, which will produce a sports highlights show to exclusively stream live on Twitter. The MLB and NHL games will be live-streamed once a week and be available to logged-in and logged-out users in the U.S. Shares of Twitter were up less than 1% in premarket trade Monday.

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Whole Foods Market Inc. was upgraded to outperform from neutral at Macquarie Research on Monday, on the belief that the grocer will see strong results over the next six to 12 months. The bank raised its target price to $38 from $28. Macquarie believes same-store sales are poised to improve, management commentary around the new 365 stores will boost sentiment and “Whole Foods remains a best-in-class operator with an iconic brand and a management team that has proven successful over long periods of time,” the bank said in a note. Whole Foods shares are up 2.7% in premarket trading, but down 16.6% for the past year. The S&P 500 Index is up 4.6% for the last 12 months.

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Outerwall Inc. announced Monday a deal to be acquired by funds managed by Apollo Global Management in a deal valued at $1.6 billion. Under terms of the deal, Apollo will pay $52 a share in cash for each Outerwall share outstanding, which represents an 11% premium to Friday’s closing price of $46.91. The shopping kiosks company expects the deal to close during the third quarter of 2016. The stock was halted for news. It has run up 36% through Friday since March 14, just before the company said it was exploring strategic alternatives. The S&P 500 had gained 7.7% over the same time. Apollo’s stock has lost 2.5% since March 14.

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CVS Health Corp. said Monday that it is making naloxone, an opioid overdose-reversal drug, available without a prescription across all its 800 Texas locations. CVS Pharmacy locations across 30 other states will also dispense the drug without a prescription by August 2016. The company has already announced the program in states including Florida, Washington and New Mexico. CVS has also launched a webpage with information about drug abuse prevention. CVS Health shares are down 0.9% in premarket trading, and down 12.6% for the past year. The S&P 500 Index is up 4.6% for the last 12 months.

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ETrade Financial Corp. announced Monday that it will acquire Aperture New Holdings Inc., the parent company of OptionsHouse, for $725 million. The deal boosts ETrade’s derivatives capabilities, the company said in a statement. OptionsHouse has 154,000 customer accounts with $3.6 billion in assets, including $1.4 billion in cash. The company had 27,000 daily average revenue trades for the 12-month period ending June 30, of which 63% were in options. Revenue for the period totaled $104 million. ETrade said it expects the acquisition to be neutral to earnings in 2017 and accretive in 2018, and it expects to generate $65 million in annual synergies. ETrade shares are up 0.7% in Monday premarket trading, but down 13% for the year to date. The S&P 500 Index is up 6.4% for the year so far.

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