Central European Media Enterprises may skip a chance to refinance 273 million euros ($365 million) of 11.625 percent bonds due September 2016 that lost make-whole protection this week after a ratings cut by Moody’s. Click HERE for more.
Richard Schimel, co-founder of Diamondback Capital Management LLC, will start a new hedge-fund firm in the fourth quarter to trade global stocks, according to a letter sent to potential investors. Click here to continue reading.
By Sam Fazeli, Bloomberg Industries Boehringer Ingelheim may join Novartis in challenging GlaxoSmithKline’s dominance in the treatment of respiratory diseases with new safety data on its Respimat device. While the data may not stave off generic competition for one of its top-selling drugs, Spiriva, it may allow Boehringer to develop a competitive combination therapy. [...]
U.S. investors are increasingly buying structured notes tied to European stocks in preference to domestic equities as the area emerges from recession and the Federal Reserve prepares to slow asset purchases. Sales of U.S. notes linked to the Euro Stoxx 50 Index climbed to $379.2 million in August and total $2.01 billion for the year, [...]
The U.S. Federal Reserve’s probable policy shift at the upcoming Sept. 17-18 meeting to begin paring back the pace of its asset purchase program poses a challenge to investor allocation decisions. The Fed’s low-interest rate policy has achieved some success in boosting risk-taking among investors. Some measures of U.S. equities valuations, Tobin’s ‘Q’ for example, have moved back to fair value after recording severely undervalued readings during the Great Recession. Click here [...]
by Elizabeth Krutoholow Roche may be able to overtake Otsuka in the race to market in geographic atrophy (GA), by leveraging a biomarker test for lampalizumab to structure a smaller pivotal trial, or to garner a breakthrough designation with the FDA, according to Bloomberg Industries. The company will update investors on plans later this [...]
Investors are increasing bets on structured notes that profit on gains in gold, as its price rebounds on the prospect of the Federal Reserve keeping interest rates low and the U.S. taking military action in Syria. Banks in August sold $107.4 million of U.S. notes tied to gold or companies that mine the precious metal, [...]
Comstock Resources is seeking to lower the interest rate and expand the size of its $500 million revolving line of credit in the fourth quarter. Click Here For More
by Andrew Berens, MD & Thomas Smith, Bloomberg Industries Amgen’s $10.4 billion purchase of Onyx demonstrates an appetite among biotech and pharma for companies with commercialized products and an oncology pipeline. Other oncology-focused biotechs with at least one commercialized product include Incyte, Seattle Genetics, Medivation and Ariad, each with a market value of $3 [...]
Global sales of structured notes in August are on pace to fall to an 11-year low as investors shun the securities amid concern that fixed-income assets will be hurt by a tapering of the Federal Reserve’s bond purchases. Banks sold $2.18 billion of the securities in Europe and Asia through August 28, down from $6.9 [...]