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Stock Market & Financial Investment News

News Breaks
March 24, 2014
10:01 EDTRXDX, TMUS, ADNC, NCS, QUNR, RESI, AMBA, DSGX, PETX, HCLP, OIIM, NGHC, CECE, ABMD, CLVSOn The Fly: Analyst Initiation Summary
Abiomed (ABMD) initiated with an Outperform at Leerink... CECO Environmental (CECE) initiated with a Hold at Jefferies... Clovis (CLVS) initiated with a Neutral at Goldman... Descartes Systems (DSGX) initiated with an Outperform at Raymond James... NCI Building Systems (NCS) initiated with an Outperform at Credit Suisse... National General (NGHC) initiated with an Outperform at FBR Capital... Ambarella (AMBA) initiated with a Buy at Topeka... Audience (ADNC) initiated with a Buy at Topeka... O2Micro (OIIM) initiated with an Outperform at Northland Securities... Altisource Residential (RESI) initiated with a Buy at Compass Point... T-Mobile (TMUS) initiated with an Equal Weight at Evercore... Qunar (QUNR) initiated with a Neutral at Macquarie... Hi-Crush Partners (HCLP) initiated with a Buy at Ladenburg... Ignyta (RXDX) initiated with a Buy at Ladenburg... Aratana Therapeutics (PETX) initiated with a Buy at Jefferies.
News For ABMD;CECE;CLVS;DSGX;NCS;NGHC;AMBA;ADNC;OIIM;RESI;TMUS;HCLP;QUNR;RXDX;PETX From The Last 14 Days
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November 21, 2014
16:00 EDTTMUSProvision winning bids in FCC AWS-3 auction hit $33B after round 26
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06:17 EDTQUNRQunar initiated with a Neutral at HSBC
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November 20, 2014
09:08 EDTTMUSDISH CEO looking to boost shares for T-Mobile bid, Fox Business reports
DISH (DISH) CEO Charles Ergen is buying more spectrum in an attempt to boost his company’s share price ahead of a potential T-Mobile (TMUS) takeover bid, Charles Gasparino of Fox Business reports, citing sources.
06:11 EDTDSGXDescartes Systems acquires Airclic for $29.7M
Descartes Systems has acquired Airclic. Airclic's cloud-based mobile solutions help streamline and automate complex 'last mile' logistics processes. The 'last mile' is a key piece of the supply chain that directly touches customers and has traditionally been fraught with manual paper-based processes. Airclic's Perform platform provides configurable, feature-rich mobile technology and advanced electronic proof of delivery, or POD, solutions that operate on a hand-held device carried by the driver. Airclic is headquartered in Trevose, Pennsylvania. The purchase price for the acquisition was approximately $29.7M.
November 19, 2014
18:03 EDTCLVSClovis reports initial Phase 2 results from ARIEL2 study
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13:10 EDTTMUSDISH, Globalstar climb as wireless spectrum bids reportedly jump
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13:06 EDTTMUSDeutsche Telekom CEO says T-Mobile could again attract suitors, Bloomberg says
Bloomberg quotes Deutsche Telekom (DTEGY) CEO Timotheus Hoettges speaking in interview as having said that T-Mobile (TMUS) could attract interest from suitors such as Comcast (CMCSA), DISH (DISH) or America Movil (AMOV, AMX).
09:16 EDTCLVSOn The Fly: Pre-market Movers
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07:54 EDTTMUST-Mobile poised to deliver very strong Q4 results, says Oppenheimer
Oppenheimer believes that several trends, including a greatly improved network and higher service revenue from its gross phone adds, will boost T-Mobile in Q4.
07:44 EDTHCLPRBC Capital to hold a conference
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07:19 EDTTMUSSpectrum auction positive for DISH, Globalstar, says JPMorgan
JPMorgan notes the AWS-3 spectrum auction continued on Tuesday with the aggregate value of licenses with bids at $16.4B, up from Monday's $8.9B and compared to the reserve price of $10.6B that the FCC set for the entire auction. The firm views the rise in prices as negative for telecom carriers that are spending more than expected, namely AT&T (T) and Verizon (VZ), and possibly T-Mobile (TMUS) and US Cellular. It views the prices as positive for independent spectrum owners like DISH (DISH) and Globalstar (GSAT), as well as tower companies American Tower (AMT), SBA Communications (SBAC) and Crown Castle (CCI).
07:09 EDTABMDJefferies to hold a conference
2014 Global London Healthcare Conference is being held in London, England on November 19-20.
06:36 EDTCLVSClovis rociletinib data 'good news/bad news,' says Mizuho
Mizuho analyst Peter Lawson says his initial read of the new rociletinib data is "good news/bad news," which leaves his price target for Clovis unchanged. Lawson pegs the bad news as the drug losing its progression-free survival lead since the estimated PFS dropped from 12 months to 10.4 months, essentially in-line with AstraZeneca's (AZN) competing drug AZD9291. Lawson sees the good news as the "encouraging" PFS of 7.5 months in T790M-negative patients. He keeps a Buy rating on Clovis with a $100 price target.
November 18, 2014
18:38 EDTCLVSClovis announces positive data from Phase 2 clinical study of rociletinib
Clovis Oncology announced updated findings from its ongoing Phase 2 clinical study of rociletinib, or CO-1686, the Company’s novel, oral, targeted covalent mutant-selective inhibitor of the epidermal growth factor receptor, or EGFR, for the treatment of NSCLC in patients with initial activating EGFR mutations as well as the primary resistance mutation T790M. These data are being presented Friday, November 21 in an oral presentation at the 26th EORTC-NCI-AACR (ENA) Symposium on Molecular Targets and Cancer Therapeutics in Barcelona, Spain. “These data demonstrate the very encouraging activity and tolerability observed with rociletinib at our go-forward dose of 625mg BID, and our step-down dose of 500mg BID,” said Clovis Oncology. “We are now expanding beyond our initial focus on T790M-positive patients and are very enthusiastic about our expansion into front-line patients with TIGER-1, and soon, into an all-comer population of patients with acquired TKI resistance, including both T790M-positive and T790M-negative patients with TIGER-3. We are actively preparing for the first of our planned regulatory filings, which include the U.S. NDA and E.U. MAA in mid-2015.”
11:28 EDTAMBAGoPro rises after company, shareholders file to sell 10.36M shares
Shares of GoPro (GRPO) are rising in early trade after the company filed to sell 10.36M shares of its stock on behalf of the company and its stockholders. WHAT'S NEW: GoPro announced in a prospectus that it is selling about 1.29M shares of class A common stock and that selling stockholders are selling 9.073M shares of class A common stock. The holders of the company's outstanding class B common stock will hold approximately 96.1% of the voting power following this offering, with its executive officers and directors and their affiliates holding approximately 65% and CEO Nicholas Woodman holding approximately 42.5% after his sale of about 4.08M shares of class A common stock in this offering, the company explained. GoPro estimated that it will receive net proceeds of $97.1M from the sale of class A shares, assuming a public offering price of $79.15 per share. The company said it expects to use the net proceeds of this offering for general corporate purposes including working capital, adding that it may also use a portion of the net proceeds to acquire or invest in complementary businesses, technologies or assets. "However, we have no present commitments or agreements to enter into any acquisitions or make any investments," GoPro noted. WHAT'S NOTABLE: On November 10, GoPro shares slipped after its CEO acknowledged he planned to sell some of his stake as part of this stock offering. In a regulatory filing at that time, the company shared an email message sent by Woodman to employees, in which he assured that he plans to be a "significant shareholder in GoPro for a long time." Additionally, on its earnings conference call this morning, Dick's Sporting Goods (DKS) management said it continues to be "extremely enthusiastic" about the electronics category, particularly wearables, GoPro cameras, and the Fitbit activity tracker. ANALYST OPINION: In a note to investors this morning, Pacific Crest said channel checks for high end GoPros are looking better than expected. The firm said it sees upside to the upcoming quarter for Ambarella (AMBA), which provides components used by GoPro in its cameras. Pacific Crest increased its price target on Ambarella shares to $55 from $47 and maintains its Outperform rating on the stock. PRICE ACTION: In morning trading, shares of GoPro rose 4.2% to $84.92, while Ambarella (AMBA) gained 5.8% to $51.60.
07:20 EDTCLVSEuro Organization for Research & Treatment of Cancer co-hosts a symposium
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November 17, 2014
17:02 EDTCLVSClovis in oncology clinical trial collaboration with GlaxoSmithKline
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November 14, 2014
16:58 EDTTMUSThird Point gives quarterly update on stakes
NEW STAKES: Alibaba (BABA), eBay (EBAY), Bed Bath & Beyond (BBBY), Shire (SHPG), and Parker Hannifin (PH). INCREASED STAKES: Actavis (ACT), Amgen (AMGN), EQT (EQT), Sensata (ST), Coca-Cola Enterprises (CCE). DECREASED STAKES: Williams Cos (WMB), Ally Financial (ALLY), Cheniere Energy (LNG), YPF (YPF), and FedEx (FDX). LIQUIDATED STAKES: AIG (AIG), T-Mobile (TMUS), Rackspace (RAX), Hertz (HTZ), and Citrix Systems (CTXS).
12:08 EDTCLVSClovis November volatility elevated into update
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November 13, 2014
09:04 EDTTMUSSwitching to T-Mobile remains elevated, says Pacific Crest
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