M&A, Earnings and News Round Up: Keryx Biopharmaceuticals, Pandora Media, Marvell Technology Group, Starbucks, Cell Therapeutics

NEW YORK, November 6, 2013 /PRNewswire/ --

Market Buzz Report, an online investment portal, Announced important news and developments for on Keryx Biopharmaceuticals (NASDAQ:KERX), Pandora Media Inc(NYSE:P), Marvell Technology Group Ltd.(NASDAQ:MRVL), Starbucks Corporation(NASDAQ:SBUX), Cell Therapeutics Inc(NASDAQ:CTIC).

Keryx Biopharmaceuticals(NASDAQ:KERX) announced successful top-line results from its Phase 2 study of Zerenex (ferric citrate coordination complex) in non-dialysis dependent chronic kidney disease (NDD-CKD) patients with elevated serum phosphorus and iron deficiency anemia. In this study, Zerenex met both co-primary endpoints, described below, demonstrating highly statistically significant changes in serum phosphorus and transferrin saturation (TSAT) versus placebo over the 12-week treatment period.

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In addition, Zerenex met the key secondary endpoints of increasing ferritin and hemoglobin, and decreasing fibroblast growth factor-23 (FGF-23) versus placebo. The Company plans to meet with the Food and Drug Administration (FDA) to discuss these data with the goal of defining a path forward towards obtaining a labeled indication for the treatment of iron deficiency anemia in NDD-CKD patients.

Pandora Media Inc(NYSE:P) announced new metrics that were reached in the month of October 2013.  Listener hours for Pandora during the month of October 2013 were 1.47 billion, an increase of 18% from 1.25 billion during the same period last year. Share of total U.S. radio listening for Pandora in October 2013 was 8.06%, an increase from 6.61% at the same time last year.  Active listeners were 70.9 million at the end of October 2013, an increase of 20% from 59.2 million during the same time period last year.

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FBR Capital notes Market Perform-rated Pandora reported October metrics before the open on Tuesday. The key point: Listener hours rose 18% year over year, on par with the 18% rise in Sept. This strongly supports the argument that the iTunes Radio launch did not measurably slow listener growth, contrary to fears. Pandora's self-measured share of U.S. radio listening rose 151 bps year over year to 8.06%, suggesting that non-Pandora U.S. radio listening fell 5.5%, a step up from a 1.9% decline in September. The only slight negative for Pandora came from monthly active users, which dipped 2.5% month over month to 70.9 million.

Marvell Technology Group Ltd.(NASDAQ:MRVL)'s shares soared over 9% on Tuesday on reports that KKR & Co.  has acquired almost 5% of computer chipmaker Marvell Technology Group Ltd. (MRVL), As per reports from Bloomberg.

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KKR sees the Hamilton, Bermuda-based company as undervalued and has discussed its holding with the company's co-founders, Chief Executive Officer Sehat Sutardja and his brother Pantas, said one person, who asked not to be identified as the information is private. One scenario New York-based KKR is considering is a leveraged buyout of Marvell, though no such deal is imminent, the person said.

Argus raises their Starbucks Corporation(NASDAQ:SBUX) target to $90 from $84, as their review of co's growth initiatives has given them more confidence in co's multichannel strategy. In fiscal 4Q13, despite a challenging economy and aggressive competition, co used new products, promotions such as "treat receipts," and social media to attract customers. Firm thinks management's guidance for 10% revenue growth (down from 10%-13% previously) in FY14 is conservative, and expect new beverages and single-serve products to boost same-store sales.

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Cell Therapeutics Inc(NASDAQ:CTIC) develops and commercializes treatments for cancer. The company is focussing on building a biopharmaceutical company having a diversified portfolio of oncology drugs.

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A lot of western mobile games have done well in China. Clash of Clans is doing well amongst the top grossing iOS charts. Besides this, other games such as Fruit Ninja, Temple Run 2 as well as Plants vs Zombies 2 are also performing great.  But, a number of international firms are doing business.

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