NEWS: MannKind (MNKD) wins FDA approval for Afrezza for treatment of diabetes; FDA has boxed warning on Afrezza on acute bronchospasm
REACTION: In an immediate reaction MNKD shares rose 3.8% from USD 10.70 to USD 11.11 before the announcement that the FDA approved drug can cause bronchospasm which resulted in the shares falling 14.4% to USD 9.51 before being halted. Upon resumption of trade volatility was observed before MannKind shares continued their decline for a total move of 26% from their highest level.
NEWS: America Movil (AMX) says unit to acquire 8.3% stake held by AT&T (T)
REACTION: In an immediate reaction, America Movil's ADR rose 1% from USD 20.02 to USD 20.22. Over the following five minutes shares continued to extend on gains for a total move of 2.75% to print a high at USD 20.58.
NEWS: Penn National Gaming (PENN) says formally withdrew its proposal for a USD 480mln Hollywood casino
REACTION: In an immediate reaction PENN shares fell 1.8% from USD 11.95 to USD 11.74.
NEWS: RANsquawk sources report that Rackspace (RAX) are not attracting buyout interest - Unconfirmed
REACTION: In an immediate reaction, RAX shares fell 2.9% from USD 36.47 to USD 35.40. Over the following 10 minutes, shares continued to move lower to print for a total move of 8.6%.
NEWS: Citron Research negative on Zillow (Z)
REACTION: In the immediate reaction, Z shares fell 1.8% from USD 134.90 to USD 132.54
NEWS: Positive for Kandi (KNDI) and Tesla (TSLA) Beijing to build electric-car charging network, according to Xinhua
REACTION: In the immediate reaction, KNDI shares rose 7.2% from USD 13.36 to USD 14.32
NEWS: TUI Travel (TT/ LN) and TUI AG (TUI1 GY) have reached an agreement on a possible merger, with TUI Travel shareholders receiving 0.399 new TUI shares per share
REACTION: TUI1 GY shares rose a total of 4.9% over the following five minutes, rising from EUR 12.00 to EUR 12.59 as TT/ LN shares spiked a total of 6.7% from GBP 3.93 to GBP 4.20
NEWS: Pearson (PSON LN) says H1 adj. profit and adj. EPS will be lower this year and profits are heavily weighted to H2
REACTION: In the immediate reaction, PSON LN shares fell 4.0% from GBP 11.40 to GBP 10.94
Print 20:04, 27 Jun 2014 - Market Analysis - Source: RA
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