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News Breaks
May 29, 2014
HIGHER: Apple (AAPL), up 0.5% after acquiring Beats Music and Beats Electronics for $3B, several analysts raising price targets on shares... Hillshire Brands (HSH), up 14.5% after Tyson Foods (TSN) offers to acquire the company for $50 per share in cash, topping the $45 per share bid recently made by Pilgrim's Pride (PPC). Tyson shares are up 3.4% after the news, while Pilgrim's Pride shares are down 0.8%... Abercrombie & Fitch (ANF), up 5% following earnings report... Palo Alto (PANW), up 12.2% after shares upgraded at Oppenheimer and Raymond James, citing its favorable settlement with Juniper (JNPR) and its Q3 earnings report... Intercept Pharmaceuticals (ICPT), up 5.8% after the FDA granted fast track designation to obeticholic acid... T-Mobile (TMUS), up 1.7% after Kyodo News says Deutsche Telekom (DTEGY) has given approval to a proposed purchase of T-Mobile by Japan's Softbank (SFTBF), the parent company of Sprint (S)... Twitter (TWTR), up 2.3% after upgraded at Cantor. DOWN AFTER EARNINGS: Tilly's (TLYS), down 26.8%... ReneSola (SOL), down 7.4%... Fred's (FRED), down 6.2%... Gordmans Stores (GMAN), down 14%. ALSO LOWER: Fabrinet (FN), down 6.2% after 3.15M share spot secondary priced at $18.70... HomeAway (AWAY), down 2.9% after downgraded at JPMorgan.
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November 17, 2015
07:35 EDTSOLReneSola sold 35 MW of projects, project pipeline at 515 MW
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07:34 EDTSOLReneSola reports Q3 EPS 8c, consensus (2c)
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07:01 EDTAAPLGlobal Payments to offer Apple Pay support in Canada
Global Payments (GPN) said it will offer its merchants in Canada the ability to accept American Express (AXP) payments made with Apple (AAPL) Pay. As an Apple Pay-qualified payment provider, Global Payments' robust suite of payments solutions is fully enabled for Apple Pay acceptance, allowing merchants to offer their customers the convenience of Apple Pay acceptance in-store, in-app and on-the-go.
November 16, 2015
17:16 EDTAWAYEminence Capital reports 7.3% passive stake in HomeAway
16:53 EDTSPaulson reduced stake in Valeant
Paulson & Co. gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: Perrigo (PRGO), CIT Group (CIT), Precision Castparts (PCP), Cameron (CAM), and Altera (ALTR). INCREASED STAKES: Teva (TEVA), Post Holdings (POST), Starwood Hotels (HOT), LivaNova (LIVN), and Synergy Pharmaceuticals (SGYP). DECREASED STAKES: Valeant (VRX), Shire (SHPG), Whiting Petroleum (WLL), Computer Sciences (CSC), and Oasis Petroleum (OAS). LIQUIDATED STAKES: Houghton Mifflin Harcourt (HMHC), Broadcom (BRCM), and Sprint (S).
16:43 EDTAAPLGreenlight Capital added Apple, sold some SunEdison
Greenlight Capital gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: CNX Coal Resources (CNXC), Garmin (GRMN), Terraform Global (GLBL), and Liberty Global (LILA). INCREASED STAKES: Apple (AAPL), Michael Kors (KORS), Dillard's (DDS), UIL Holdings (UIL), and Twenty-First Century Fox (FOXA). DECREASED STAKES: SunEdison (SUNE), Micron (MU), Voya (VOYA), Applied Materials (AMAT), and SunEdison Semiconductor (SEMI). LIQUIDATED STAKES: Citizens Financial (CFG), Lam Research (LRCX), Spirit AeroSystems (SPR), Hertz (HTZ), and Macy's (M).
16:00 EDTTWTR, AAPLOptions Update; November 16, 2015
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12:58 EDTTWTRStocks with call strike movement; VXX TWTR
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12:35 EDTAAPLApple reaps 94% of global smartphone profits, Business Insider says
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10:25 EDTAAPLUBS trims Apple target, says iPhone partner cut production forecast
Hon Hai, which manufactures Apple's (AAPL) iPhones, expects to assemble significantly fewer iPhones this quarter than in the same period in 2014, UBS wrote in a note to investors today. WHAT'S NEW: Hon Hai Precision Industry, also known as Foxconn, is expected to assemble 10% fewer iPhones this quarter than in the same period in 2014, said UBS analyst Steven Milunovich, citing work from fellow UBS analyst Arthur Hsieh. Previously, companies that supply force touch components for iPhones saw a 10%-15% reduction in their orders, the analyst reported. These developments "are not encouraging," but Apple had previously ordered a large number of iPhones for Q4, according to Milunovich. Overall iPhone demand "could still be decent," he believes. However, the analyst lowered his iPhone sales estimate for Apple's March quarter to 61M from 62.5M, asserting that iPhone sales on China's November 11 Singles Day holiday may have come in below expectations. Based on October search volumes, he continues to believe that demand for iPhone units in the fourth quarter of the calendar year will be 75M, in-line with the consensus outlook. Milunovich trimmed his price target on Apple to $140 from $150 but kept a Buy rating on the shares. WHAT'S NOTABLE In a note to investors on November 10, Credit Suisse reported that it was cutting its estimates for 2016 iPhone sales. The firm expects sales of the device to fall 10.4% in the first quarter versus the same period in 2015, and it predicts that iPhone sales will decline 5.5% year-over-year in 2016. Suppliers with greater than 10% exposure to Apple include Avago (AVGO), SanDisk (SNDK), Analog Devices (ADI), Broadcom (BRCM), Texas Instruments (TXN), NXP Semiconductors (NXPI) and Fairchild (FCS), Credit Suisse reported. The firm said it continues to have a negative view of the smartphone sector. PRICE ACTION: In early trading, Apple added nearly 1% to $113.34.
09:37 EDTAAPLActive equity options trading on open
Active equity options trading on open: AAPL FB ORCL BAC SUNE FDX FCX EXPE NFLX MU AMZN INTC TSLA
09:03 EDTTMUSGabelli to hold a symposium
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08:46 EDTAAPL4-inch iPhone 6c may be available in middle of 2016, Cult of Mac reports
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08:44 EDTAAPLGerman watchdog launches probe into Apple, Amazon audio books pact, Reuters says
Germany's Federal Cartel Office has initiated a probe into Apple's (AAPL) arrangement with Amazon (AMZN) for buying audiobooks, Reuters reports. The watchdog said that both companies had a long-term agreement for the purchase of audio books by Apple from Amazon via Apple's iTunes, the report says. Reference Link
06:37 EDTAAPLApple's Cook: No plans to make 'converged' MacBook and iPad, Independent reports
Apple has no plans to build a "converged" MacBook and iPad, the Independent reports, citing CEO Tim Cook. "We feel strongly that customers are not really looking for a converged Mac and iPad," Cook said. "Because what that would wind up doing, or what we're worried would happen, is that neither experience would be as good as the customer wants. So we want to make the best tablet in the world and the best Mac in the world. And putting those two together would not achieve either. You'd begin to compromise in different ways." Reference Link
06:19 EDTAAPLApple News fails to impress publishers, Digiday reports
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06:05 EDTAAPLApple price target lowered to $140 from $150 at UBS
UBS analyst Steven Milunovich lowered his price target for Apple to $140 from $150 saying the stock's multiple is likely to be pressured until supply chain concerns are resolved. UBS analyst Arthur Hsieh indicates Hon Hai's Q4 iPhone assembly order forecast has been cut and should be down 10% year-over-year, Milunovich tells investors in a research note. The analyst is unclear what the order pullback means for iPhone shipments, but notes "it is not encouraging." Milunovich maintains his above-consensus December estimates for Apple, but trimmed his estimates for the March quarter. He keeps a Buy rating on Apple.
November 15, 2015
19:49 EDTAAPLApple CEO Cook expects 'huge' Watch sales this year, IE says
In an interview with Irish Independent published Sunday, Apple CEO Tim Cook said he expects "huge" Apple Watch sales this year. Cook added that he sees iPad sales rebounding, and said the company does not plan a combined iPad-Mac device. Reference Link
15:08 EDTICPTIntercept reports analysis of Phase 3 obeticholic acid study, other data
Intercept announced results from three studies in primary biliary cirrhosis, recently renamed primary biliary cholangitis, for presentation at the American Academy for the Study of Liver Diseases annual meeting. The studies evaluate investigational use of obeticholic acid, Intercept's lead farnesoid X receptor agonist. In a presentation titled, "Clinical Epidemiology of Primary Biliary Cirrhosis based on a Large U.S. Laboratory Database: Incidence and Trends in Serum Alkaline Phosphatase," an analysis of a clinical database of more than 575,000 patients who received an anti-mitochondrial antibody test showed that, of those patients, 6,107 were classified as having probable PBC based on a positive AMA test and ALP greater than the upper limit of normal at any time prior to AMA testing or up to one month following AMA testing. The study found that 69% of those likely PBC patients continued to have elevated ALP two years after the first positive AMA test. Meanwhile, a presentation titled "A Trial-Based Model of Liver Transplant and Liver-Related Death in Patients with Primary Biliary Cirrhosis" includes an analysis of data from the Phase 3 POISE trial of OCA in PBC using the UK-PBC predictive model of transplant-free survival based on ALP, bilirubin, alanine transaminase, albumin and platelet count. Risk was assessed at 5, 10 and 15 years based on a 12-month change from baseline in patients treated with OCA plus or minus ursodiol or placebo plus or minus ursodiol at the end of the POISE study. The UK-PBC risk algorithm showed a significantly lower risk of liver transplant or liver-related death in OCA-treated patients compared to placebo. Lastly, a presentation titled "Physician versus Patient Perceptions of Medical Care Quality in Primary Biliary Cirrhosis" showed that patients may not be properly informed about their ALP scores and the nature of PBC symptoms.
14:38 EDTICPTIntercept reports analyses of OCA in fatty liver patients
Intercept Pharmaceuticals announced new results from the non-invasive evaluation of liver fibrosis in patients from the FLINT trial of obeticholic acid, or OCA, for the treatment of nonalcoholic steatohepatitis, or NASH. In the trial, treatment with once daily 25 mg OCA was shown to reverse fibrosis in a "significant proportion" of biopsy-proven NASH patients, as observed by repeat liver biopsy at the end of the double-blind treatment phase at week 72, according to the company. Post-hoc analysis evaluated the early predictive value of three known non-invasive fibrosis tests -- FIB-4, APRI and NFS -- in identifying patients who experienced improvement in fibrosis. Each was assessed at baseline and over the course of treatment and then correlated with histologic changes observed in the OCA and placebo patients. The analysis demonstrated that OCA treatment of NASH patients led to a statistically significant decrease in FIB-4 from baseline as compared to placebo. Further, a decline in FIB-4 of 10% after 24 weeks of treatment predicted improvement in fibrosis by at least one stage as assessed by biopsy at 72 weeks, according to Intercept. Similarly, OCA-treated patients experienced a significant decrease in APRI as compared to placebo, and a 34% reduction in APRI at 24 weeks predicted improvement in fibrosis by at least one stage at 72 weeks. On average, OCA treatment reduced the FIB-4 score to less than 1.3 and the APRI score to less than 0.5, the respective cut-off values associated with advanced fibrosis, while placebo patients remained above these cut-offs. While NFS declined in the OCA-treated patients and increased in the placebo patients, it did not appear to be sensitive to changes in fibrosis, the company said.
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