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August 21, 2014
10:14 EDTVTNR, TSLA, PNM, HCCI, ECOL, INN, MEET, FII, TYL, PRFT, MDCA, ABOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AllianceBernstein (AB) initiated with a Hold at Jefferies... Federated Investors (FII) initiated with a Buy at Jefferies... Heritage-Crystal Clean (HCCI) initiated with a Hold at Stifel... MDC Partners (MDCA) initiated with an Outperform at FBR Capital... MeetMe (MEET) initiated with an Outperform at JMP Securities... PNM Resources (PNM) initiated with a Hold at KeyBanc... Perficient (PRFT) initiated with a Buy at Maxim... Summit Hotel Properties (INN) initiated with an Outperform at JMP Securities... Tesla (TSLA) initiated with an Outperform at CLSA... Tyler Technologies (TYL) initiated with a Buy at Maxim... US Ecology (ECOL) initiated with a Buy at Stifel... Vertex Energy (VTNR) initiated with a Buy at Stifel.
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August 17, 2015
06:42 EDTTSLATesla price target raised to $465 from $280 at Morgan Stanley
Morgan Stanley analyst Adam Jonas raised his price target for Tesla Motors to $465 from $280, well above Friday's closing price of $243.15. Today, ten trillion vehicle miles are driven annually, with almost all of them delivered by "companies practicing a 100-year-old business model of human-driven, privately owned, internal-combustion vehicles," Jonas tells investors in a research note. The market is going through some fundamental changes, however, argues Jonas. He believes Tesla is "uniquely positioned" to dominate given its expertise in autonomous technology and networked machine learning. An app-based, on-demand mobility service could more than triple Tesla's potential revenues by 2029, the analyst estimates. He expects Tesla over the next 18 months to roll out formalized business plans on shared mobility, allowing the electric vehicle maker to sell miles in addition to cars. His new price target of $465 reflects Tesla's potential to lead the revolution of the shared mobility public transportation hyper-structure and more confidence around the commercial viability of Tesla Energy. Jonas keeps an Overweight rating on shares of Tesla. His new price target is a high among sell-side analysts on Wall Street.
August 14, 2015
16:16 EDTTSLAStocks end week higher after China rattles market with currency moves
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16:00 EDTTSLAOptions Update; August 14, 2015
iPath S&P 500 VIX Short-Term Futures down 4c to 16 Option volume leaders: AAPL FB BAC MU NFLX TWTR HUN TSLA BABA MSFT RAD CSCO JCP AMZN SUNE
12:37 EDTTSLAOn The Fly: Top stock stories at midday
Stocks began the session with modest losses, despite a stabilization in the Chinese yuan overnight. Relatively in line data on producer prices and industrial production did not hurt the situation, but there was also the lack of a catalyst. As a result, the market has drifted throughout the morning session moving up as much as 0.4% before paring its gains. The market is now struggling to hold onto its meager gains. ECONOMIC EVENTS: In the U.S., both industrial production and PPI beat estimates, with industrial production increasing 0.6% and PPI increasing 0.2%. Consumer sentiment for August fell to 92.9 in the preliminary report from the University of Michigan survey, after slipping to 93.1 in July from 96.1 in June. Meanwhile, Euro-area GDP rose 0.3% last quarter. Germany's economy grew 0.4%, Italy's 0.2%, while France stagnated. The Baker Hughes North American rig count report is out at 1 p.m. ET. COMPANY NEWS: General Electric (GE) announced an agreement to sell GE Capital Bank's U.S. online deposit platform along with all deposits of GE Capital Bank, including online savings accounts, online CDs and brokered CDs, to Goldman Sachs Bank USA (GS). Under this agreement approximately $16B of deposits will be transferred to GS Bank. Separately, Goldman Sachs is selling its Colombia coal mining division to privately held Murray Energy. General Motors (GM) is boosting production of its larger SUVs and trucks, according to Reuters. The automaker could make as many as 60,000 additional vehicles for the 2016 model year to capitalize on rising demand. Meanwhile, GM is recalling 73,424 small cars because improper wiring could prevent the roof-mounted driver's side air bag from deploying after a crash, the Associated Press reported. SunTrust analyst Robert Peck said he believes Twitter (TWTR) could announce a permanent CEO as early as next week. Peck continues to think Twitter is likely to unveil a "Triumvirate of leadership" with Jack Dorsey as CEO, Adam Bain as COO and Evan Williams with more board influence, possibly Chairman. Tesla's (TSLA) secondary offering of 2.7 million common shares was priced at $242 each, according to an SEC filing. That represents an increase from the 2.1 million shares Tesla had previously announced for the offering. MAJOR MOVERS: Among the notable gainers following their earnings reports were department store retailers Nordstrom (JWN) and J.C. Penney (JCP), which gained 5.35% and 5.95%, respectively. Also higher was WuXi PharmaTech (WX), up 5.45%, which reported earnings and entered into an agreement to be acquired by a management buyout group for around $3.3B. Cyberark Software (CYBR) also gained 1.8% after being upgraded to Outperform from Market Perform at Wells Fargo. Among the noteworthy losers was El Pollo Loco (LOCO), which dropped 18% after its Q2 revenue fell short of analysts' estimates. Also lower were shares of King Digital (KING), which declined nearly 12% after reporting quarterly earnings and forecasting gross bookings for the third quarter $460M-$485M, citing "recent trends." The company said fourth quarter gross bookings would be "fairly consistent sequentially." JPMorgan downgraded King Digital this morning to Neutral from Overweight citing an elevated risk profile following the results. INDEXES: Near midday, the Dow was up 42.43, or 0.24%, to 17,450.68, the Nasdaq was fractionally lower by 2.96, or 0.06%, to 5,030.59, and the S&P 500 was up 3.46, or 0.17%, to 2,086.89.
10:25 EDTPRFTPerficient management to meet with Needham
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09:37 EDTTSLAActive equity options trading on open
Active equity options trading on open: AAPL TWTR FB NFLX TSLA QIHU JCP BABA BP
06:16 EDTTSLATesla 2.7M share Secondary priced at $242.00
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August 13, 2015
19:54 EDTPNMPNM Resources reaches settlement agreement with key parties about SJGS
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19:44 EDTTSLAAudi partners with Samsung to develop electric SUV
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17:17 EDTTSLAOn The Fly: Top stock stories for Thursday
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16:00 EDTTSLAOptions Update; August 13, 2015
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13:05 EDTTSLATesla, Shake Shack move in opposite directions after share offerings
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12:18 EDTTSLAOn The Fly: Top stock stories at midday
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09:20 EDTTSLAOn The Fly: Pre-market Movers
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07:35 EDTTSLATesla volatility flat, announces $500M stock offering
Tesla August weekly call option implied volatility is at 40, August is at 39, September is at 40; compared to its 52-week range of 29 to 62, suggesting non-directional price movement into announcing a $500M stock offering.
07:15 EDTTSLATesla announces $500M stock offering, Musk to buy $20M in stock
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07:02 EDTTSLATesla CEO interested in buying $20M in shares as part of company offering
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06:58 EDTTSLATesla files to sell 2.1M shares of common stock, Musk to buy shares
Tesla filed to sell 2.1M shares of common stock. Elon Musk, Chief Executive Officer, Product Architect and Chairman of our Board of Directors, has indicated his preliminary interest in purchasing up to an aggregate of 83,974 shares of our common stock in this offering at the public offering price for an aggregate purchase price of approximately $20M. Goldman Sachs, Morgan Stanley, JPMorgan, Deutsche Bank, BofA Merrill, and Wells Fargo are acting as joint book running managers for the offering.
06:45 EDTTSLATesla to unveil charging partnership with Manhattan garages, NY Times reports
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05:46 EDTMDCAPiper likes MDC Partners risk/reward after meeting with CEO
Piper Jaffray analyst James Marsh says he likes the risk/return profile for shares of MDC Partners at current levels after meeting with the company's new CEO. The CEO should help navigate the company through its difficult times, Marsh tells investors in a research note. He points out his price target of $26 suggests 30% upside from current share levels.
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