Sunday, April 26, 2015
- Celladon (NASDAQ:CLDN) says its Phase 2b CUPID2 trial did not meet its primary and secondary endpoints. All other exploratory efficacy endpoints were also inconsistent with a treatment effect.
- "We are surprised and very disappointed that MYDICAR failed to meet the endpoints in the CUPID2 trial, and we are rigorously analyzing the data in an attempt to better understand the observed outcome."
- The primary endpoint was time to recurrent heart failure related events. The secondary efficacy endpoint was time to first terminal event.
- Conference call Monday at 8:30 AM.
- Other stocks likely in play Monday morning: bluebird bio (NASDAQ:BLUE), Uniqure (NASDAQ:QURE), Avalanche (NASDAQ:AAVL)
- Source: Press Release
- Previously: Celladon trends lower on bearish article (Apr. 22)
- Related: Celladon: CUPID-2 Is Likely To Fail (Apr. 22)
- Related: Celladon: A Good Deal, And A Rare Buy-Write Opportunity (Apr. 20)
- Related: CEO Krisztina Zsebo on Q4 2014 Results (Mar. 31)
11:59 AM| 4 Comments
- Deutsche Bank (NYSE:DB) reported first-quarter net profit that plunged to €559M from €1.1B a year earlier as hefty litigation charges outweighed a near record of €10.4B (+24% Y/Y) in revenue.
- Last week's $2.5B legal settlement for Libor rigging bit into the group's bottom line and totally depleted the €1.5B it set aside in legal reserves.
- Deutsche also said co-chief executives Anshu Jain and Jurgen Fitschen, as well as strategy chief Stefan Krause, will present details of its long-awaited overhaul on Monday morning.
- Coca-Cola (NYSE:KO) says it has no plans to change the sweetener for Diet Coke away from aspartame.
- PepsiCo and other beverage sellers have shifted some focus to the use of natural sweeteners and increased their investment in vegetable and protein drinks.
- Sales of Diet Coke fell 6% Y/Y in Q1 to trail the pace seen by the Sprite, Coke, and Fanta brands.
- During the earning call last week, Coca-Cola execs said finding the right path to grow Diet Coke sales was still a "work in progress" amid shifting consumer tastes.
- Some beverage industry analysts have noted millennials tend to hop around new upstart brands (energy/protein/fruit) in the same way they prefer sampling craft beers instead of locking in on cases of Bud Light and Budweiser.
- Coca-Cola earnings call transcript
- Related: PepsiCo rethinks sweeteners (April 24)
- The finance ministers of Slovenia and Germany on Saturday acknowledged for the first time that they are considering plans on what to do if a Greek deal is not reached by the end of June, breaking their long-held stance of insisting that the country must stay in the eurozone.
- The issue of a "Plan B" was raised during Friday's Eurogroup meeting in Riga, where Athens was strongly criticized for delaying the list of reforms needed to unlock its next round of funding.
- ETFs: GREK
- While the Bank of Japan is likely to cut growth and inflation forecasts this week, the question of additional stimulus still remains.
- Japan's central bank is expected to trim its inflation forecast for 2015 by several tenths of a percentage point from 1%, and shave its growth forecast from the current 2.1%.
- Despite inflation dropping back to zero, governor Haruhiko Kuroda has argued strongly that the BOJ's existing QE program is on track, leading many economists to think further easing is unlikely for now.
- ETFs: DXJ, EWJ, DFJ, DBJP, NKY, EZJ, JPNL, DXJS, EWV, SCJ, HEWJ, JSC, ITF, JPP, QJPN, FJP, JPMV, DXJT, DXJR, DXJC, DXJH, JHDG, DXJF
- Sony (NYSE:SNE) has again raised its operating profit estimate for fiscal 2015, the Nikkei reports, upping its forecast for the third time in three months.
- Due to expectations for higher display sensor and Playstation console sales, the company now anticipates operating profit of ¥300B ($2.52B) - four times its previous estimate and its highest earnings since 2008.
- Sony also expects earnings for fiscal year 2016 to improve as its restructuring costs decline.
- Previously: Sony raises forecast for full-year profit (Apr. 22 2015)
Visit Seeking Alpha’s new Earnings Center
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs