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Stocks In News: Juno Therapeutics Inc (NASDAQ:JUNO), Broadcom Ltd (NASDAQ:AVGO)

Juno Therapeutics Inc(NASDAQ:JUNO) discontinues development of JCAR015 in r/r adult ALL to focus on defined cell product in this setting   (25.31 +1.27)

“We continue to experience encouraging signs of clinical benefit in our trial addressing NHL, but we also recognize the unfortunate and unexpected toxicity we saw in our trial addressing ALL with JCAR015. We have decided not to move forward with the ROCKET trial or JCAR015 at this time, even though it generated important learnings for us and the immunotherapy field. We remain committed to developing better treatments for patients battling ALL and believe an approach using our defined cell technology is the best platform to pursue. We intend to begin a trial with a defined cell product candidate in adult ALL next year. We look forward to sharing detailed data supporting our learnings from the ROCKET trial at an upcoming scientific conference.”

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Broadcom Ltd(NASDAQ:AVGO) beats by $0.15, beats on revs; guides Q2 revs above consensus  (214.77 +3.84)

Reports Q1 (Jan) earnings of $3.63 per share, excluding non-recurring items, $0.15 better than the Capital IQ Consensus of $3.48; revenues rose 132.8% year/year to $4.15 bln vs the $4.08 bln Capital IQ Consensus. Gross margin from continuing operations was $2,590 million, or 62.4 percent of net revenue. This compares with gross margin of $2,522 million, or 60.8 percent of net revenue, in the prior quarter, and gross margin of $1,089 million, or 61.1 percent of net revenue, in the same quarter last year.

Co issues upside guidance for Q2, sees Q2 revs of $4.025-4.175 bln vs. $3.9 bln Capital IQ Consensus Estimate; non-GAAP gross margin 61-63%.

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