Author Archives: Scalper1

Mobileye Falls As Morgan Stanley Cuts Price Target

Mobileye (MBLY) had its price target lowered by Morgan Stanley, following an investor presentation by the auto safety technology company at the Detroit auto show. Morgan Stanley analyst Adam Jonas cut his price target on Mobileye to 57 from 80 but maintained an overweight rating. Mobileye stock was down more than 8%, near 31, in late morning trading in the stock market today. Earlier in the day the stock hit a low of 28.33. The report followed a

Infosys Beats Sales, Raises Guidance And Stock Flies

Infosys (INFY) late Wednesday posted fiscal Q3 revenue that beat Wall Street revenue estimates and earnings that met views. The company also raised its guidance, giving investors what they needed to drive the stock up to a two-month high. The India-based outsourcing and IT service company, which competes with IBM (IBM), Accenture (ACN), Cognizant Technology Solutions (CTSH) and Wipro (WIT), said that its fiscal third quarter sales rose 8.5% to

BioMarin Muscular Dystrophy Drug Rejected By FDA

BioMarin Pharmaceutical (BMRN) said Thursday that the FDA had rejected its Duchenne muscular dystrophy (DMD) drug Kyndrisa, saying the evidence for its effectiveness was inadequate. The news was not a surprise, as Kyndrisa (also known as drisapersen) had failed its clinical trials, leaving BioMarin to argue that the totality of the evidence supported the drug’s efficacy even though it didn’t hit the preset endpoints. The FDA called an advisory