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Stock Market & Financial Investment News

News Breaks
January 4, 2013
10:24 EDTJPM, BK, ABT, ALV, FSL, LULU, SKT, FSLR, DOLE, MSFT, ENDP, WFC, LGND, BBT, ABC, GBX, WAC, ILMN, WATOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abbott (ABT) downgraded to Hold from Buy at Deutsche Bank... AmerisourceBergen (ABC) downgraded to Neutral from Buy at Mizuho... BB&T (BBT) downgraded to Neutral from Buy at Goldman... BNY Mellon (BK) downgraded to Neutral from Buy at Citigroup... Dole Food (DOLE) downgraded to Underperform from Buy at BofA/Merrill... First Solar (FSLR) downgraded to Underperform from Market Perform at Raymond James... JPMorgan (JPM) downgraded to Buy from Conviction Buy at Goldman... Ligand Pharmaceuticals (LGND) downgraded to Hold from Buy at Cantor... Tanger Factory (SKT) downgraded to Sell from Neutral at Goldman... Waters (WAT) downgraded to Equal Weight from Overweight at Morgan Stanley... Wells Fargo (WFC) downgraded to Neutral from Buy at Goldman... lululemon (LULU) downgraded to Neutral from Outperform at Credit Suisse... Illumina (ILMN)downgraded to Neutral from Outperform at Wedbush... Freescale (FSL) downgraded to Neutral from Overweight at JPMorgan.... Endo Health (ENDP) downgraded to Neutral from Overweight at Piper Jaffray... Walter Investment (WAC) downgraded to Neutral from Buy at Sterne Agee... Microsoft (MSFT) downgraded to Hold from Buy at Argus... Autoliv (ALV) downgraded to Neutral from Buy at Buckingham... Greenbrier (GBX) downgraded to Market Perform from Outperform at Avondale.
News For ABT;ABC;DOLE;BK;BBT;FSLR;JPM;LGND;SKT;WAT;WFC;LULU;ILMN;ENDP;FSL;WAC;MSFT;ALV;GBX From The Last 14 Days
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March 16, 2015
16:28 EDTENDPOn The Fly: Closing Wrap
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13:18 EDTALVNeonode, Autoliv sign development and license agreement for sensing product
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12:43 EDTENDPOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday after stimulus talk out of China and a rally in European stock markets lifted the U.S. market at the open. There was little reaction to the day’s domestic economic reports, which included the Empire manufacturing index, industrial production data, and a homebuilder confidence index. The week's big economic news, however, is yet to come, as investors look forward to the conclusion of the Federal Reserve's latest rate setting meeting on Wednesday. ECONOMIC EVENTS: In the U.S., the Empire State manufacturing index dipped to 6.9 in March, versus the consensus forecast for a reading of 8.0. Industrial production edged up 0.1% in February, versus expectations for an increase of 0.2%, and capacity utilization fell to 78.9%, versus the 79.5% consensus forecast. The NAHB homebuilder sentiment index dropped to 53 in March from 55 in February, missing expectation for the index to rise to 56. Oil prices continued to tumble, with U.S. crude dropping to a six-year low below $44 per barrel earlier in the session. In Asia, Chinese Premier Li Keqiang said Sunday that his government has room and the tools to take action should growth falter, without detailing specific remedies the government might pursue. COMPANY NEWS: Valeant (VRX), which not long ago lost out to Actavis (ACT) in the race to buy Allergan (AGN), increased its chances of making sure its latest buyout deal gets done by increasing its takeover offer to Salix Pharmaceuticals (SLXP) by about $1B. Rival bidder Endo Health (ENDP) confirmed that it is withdrawing its cash and stock proposal to acquire Salix after Valeant raised its all-cash bid for Salix to $173 per share from $158 per share. Shares of Valeant and Salix both rose about 2%, while Endo shares gained 2.5% following the announcements. MAJOR MOVERS: Among the notable gainers was Life Time Fitness (LTM), which rose 5% after entering into a definitive agreement to be acquired by private equity firms Leonard Green & Partners and TPG in a transaction valued at more than $4B, or $72.10 per share, in cash. Also higher was Edwards Lifesciences (EW), which rose 8% after the company reported data at this weekend's American College of Cardiology conference. Among the noteworthy losers was iDreamSky (DSKY), which dropped more than 25% after the company lowered its guidance because the launch of a popular casual game was delayed on one of the company distribution platforms and the monetization of another popular casual game was less than expected. Also lower were shares of Enzo Biochem (ENZ), which fell 17% after an appeals court reversed-in-part and vacated-in-part the judgment in Enzo’s favor that Life Technologies' (LIFE) Applera Corp. infringed certain Enzo patents. INDEXES: Near midday, the Dow was up 174.81, or 0.98%, to 17,924.12, the Nasdaq was up 39.80, or 0.82%, to 4,911.55, and the S&P 500 was up 20.07, or 0.98%, to 2,073.47.
10:58 EDTENDPValeant price hike likely ends Salix saga, says UBS
UBS believes the race for Salix (SLXP) is likely over now that Valeant (VRX) has increased its offer price, as expected. The firm said it will still like both Valeant (VRX) and Endo (ENDP) if this is how things end, as it believes the deal is still a very good one for Valeant despite the higher price and it expects Endo to find another deal that should be accretive. UBS has Buy ratings on both Valeant and Endo Health.
10:18 EDTENDPValeant should win Salix with increased offer, says Cantor
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10:02 EDTFSLOn The Fly: Analyst Downgrade Summary
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10:02 EDTABCOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AmerisourceBergen (ABC) upgraded to Buy from Neutral at UBS... Avago (AVGO) upgraded to Buy from Neutral at DA Davidson... Francesca's (FRAN) upgraded to Buy at Janney Capital... Goldcorp (GG) upgraded to Overweight from Neutral at HSBC... Jabil Circuit (JBL) upgraded to Buy from Hold at Cross Research... JetBlue (JBLU) upgraded to Outperform at Raymond James... King Digital (KING) upgraded to Overweight from Neutral at JPMorgan... L.B. Foster (FSTR) upgraded to Outperform from Neutral at Macquarie... NextEra Energy (NEE) upgraded to Buy from Hold at Deutsche Bank... Petrobras Argentina (PZE) upgraded to Buy from Neutral at BofA/Merrill... Qorvo (QRVO) upgraded to Buy from Neutral at DA Davidson... Randgold (GOLD) upgraded to Overweight from Neutral at HSBC... Royal Gold (RGLD) upgraded to Overweight from Neutral at HSBC... Seagate (STX) upgraded at Needham... Standex (SXI) upgraded to Buy from Hold at BB&T... Union Pacific (UNP) upgraded to Outperform from Neutral at Macquarie... West Corp. (WSTC) upgraded to Outperform from Neutral at RW Baird... Xilinx (XLNX) upgraded to Buy from Hold at Drexel Hamilton... YPF (YPF) upgraded to Buy from Neutral at BofA/Merrill.
09:24 EDTENDPEndo withdraws proposal for Salix
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09:19 EDTFSLFreescale downgraded to Hold from Buy at Drexel Hamilton
09:03 EDTMSFTMicrosoft price target lowered to $49 from $52 at UBS
UBS lowered its price target on Microsoft to $49 from $52 citing lower PC demand and foreign exchange headwinds. UBS reiterated its Buy rating on Microsoft shares.
08:28 EDTJPMJPMorgan reports February net credit losses 2.42% vs. 2.53% last month
Reports February delinquency rate 1.35% vs. 1.34% last month.
08:17 EDTENDPValeant rises 1% after sweetening Salix takeover offer
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08:06 EDTENDPValeant ses Salix deal closing on April 1
08:05 EDTENDPValeant raises offer price for Salix to $173 per share from $158
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07:50 EDTENDPValeant to raise offer for Salix to $173 per share, DJ reports
Dow Jones cites sources.
07:32 EDTMSFTUBM Tech to hold a conference
Enterprise Connect 2015 is being held in Orlando, Florida on March 16-19.
07:31 EDTENDPEndo announces launch of Natesto
Endo Pharmaceuticals, a subsidiary of Endo, announced the commercial availability of NATESTO, the first and only nasal gel for testosterone replacement therapy in adult males diagnosed with hypogonadism. NATESTO was approved by the FDA in May 2014 for replacement therapy in adult men with conditions associated with deficiency or absence of endogenous testosterone, including primary hypogonadism or hypogonadotropic hypogonadism. NATESTO™ reduces the risk of transference via intranasal application.
06:30 EDTABCAmerisourceBergen upgraded to Buy from Neutral at UBS
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06:20 EDTJPMU.S.poised to charge JPMorgan hacking suspects, NY Times says
U.S. authorities probing last summer's cyberattack on JPMorgan are increasingly confident that they will be able to file criminal charges against perpetrators of the attack in coming months, according to The New York Times, which cited unnamed sources who have been briefed on the investigation. Several of the suspects are located in countries with whom the U.S. has extradition treaties, the newspaper explained. Reference Link
05:40 EDTILMNIllumina files patent infringement suit in UK regarding NIPT patents
Illumina (ILMN) announced that it and its wholly-owned subsidiary, Verinata Health have filed a patent infringement suit against Premaitha Health in the High Court of Justice, Chancery Division, Patents Court in the United Kingdom. Illumina is seeking all available remedies, including damages and injunctive relief. The patents asserted are European Patent 0 994 963 B2 and European Patent 1 981 995 B1, which are exclusively licensed to Illumina from Sequenom (SQNM), and The Board of Trustees of Leland Stanford Junior University, respectively. Stanford is joined in the suit as a necessary party because it is the registered owner of the European Patent 1 981 995 B1. The patents are directed to using cell-free fetal DNA for non-invasive prenatal testing. The suit accuses Premaitha’s IONA Test of infringement, including its use of next-generation sequencing to analyze cell-free fetal DNA from a sample of maternal blood.
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