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January 4, 2013
10:24 EDTMSFT, ENDP, WFC, LGND, BBT, ABC, GBX, WAC, ILMN, WAT, JPM, BK, ABT, ALV, FSL, LULU, SKT, FSLR, DOLEOn 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.
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November 18, 2015
13:07 EDTENDPFTC approves final order settling charges over Endo, Par merger
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10:15 EDTLGNDLigand sees 2017 adjusted EPS over $4.75
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10:12 EDTLGNDLigand reaffirms 2015 adjusted EPS outlook $3.34-$3.37
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08:55 EDTWFC, JPMMorgan Stanley exec sees Q4 not much better than Q3 for banks, DJ reports
Morgan Stanley (MS) Institutional Securities President Colm Kelleher cautioned that fixed-income markets "still seem subdued," according to Dow Jones, citing his comments at an investment conference. Morgan Stanley was among the banks that reported lower revenue from fixed-income, currency and commodities trading during the third quarter and Kelleher said he doesn't think "the fourth quarter is going to be much better," the report noted. Large bank peers to Morgan Stanley include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:46 EDTABCAmerisourceBergen announces Steven Collis to succeed Richard Gozon as Chairman
AmerisourceBergen announced that, following Richard Gozon's retirement as Chairman of the Board at the annual meeting of stockholders in March 2016, Steven Collis, President and CEO, will succeed Gozon as Chairman of the Board, and Jane Henney, will become the board's Lead Independent Director. The election of Collis and Henney is contingent on their re-election as directors at the annual meeting of stockholders scheduled to be held on March 3, 2016.
November 17, 2015
18:58 EDTMSFTMicrosoft CEO says building new cyber defense center, NBC reports
Speaking at the Microsoft Government Cloud Forum on Tuesday, CEO Satya Nadella revealed plans to open a Cyber Defense Operations Center, gathering security experts from across the company's suite of products in order to respond to security threats in real-time, reports NBC. Reference Link
18:34 EDTJPMU.S. pursuing criminal charges against JPMorgan, RBS executives, WSJ says
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17:20 EDTWACWalter Investment shares jump after reaching consensus with Birch hedge fund
Shares of Walter Investment Management (WAC) jumped 11.94% to $11.16 on Tuesday after the company announced the appointment of Daniel Beltzman, co-founder of hedge fund Birch Run Capital, to its board of directors. Walter Chief Executive Officer Denmar Dixon commented that the company is "firmly committed" to enhancing shareholder value and has maintained a "longstanding and constructive dialogue with Birch Run." In connection with the appointment, the company also said Birch entered into an agreement permitting it to acquire up to 25% of Walter's common stock while also agreeing to vote its shares in support of the company's current directors. Additionally, Walter Investment said it plans to appoint a new non-management director "as soon as practicable."
17:02 EDTWFCWells Fargo names Timothy Sloan as COO
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16:59 EDTENDPDepomed acquires U.S. rights to pain product from Grunenthal
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13:29 EDTFSLRSunEdison selloff continues, shares down 23%
Shares of SunEdison (SUNE) continue to be weak and are down 23% to $3.49 in afternoon trading. Dan Loeb's Third Point last night disclosed it no longer owns the stock while David Einhorn's Greenlight Capital disclosed a reduced stake. Deutsche Bank analyst Vishal Shah lowered his price target for SunEdison this morning to $16 saying language in Vivint Solar's (VSLR) quarterly filing around SunEdison debt financing could concern some investors. SunEdison's solar peers are also weak, with SunPower (SPWR), First Solar (FSLR) and SolarCity (SCTY) all in the red.
11:25 EDTLGNDLigand to host analyst day
Analyst Day to be held in New York on November 17 at 10 am. Webcast Link
09:02 EDTMSFTAnalyst pans competing products, says buy Fitbit
Shares of previous high-flier Fitbit (FIT) have dropped about 30% in the last two weeks following the company's third quarter earnings report, but an analyst at Bank of America upgraded his view of the fitness tracker maker this morning, saying that now is the time to buy ahead of fourth quarter results that may be boosted by the "underwhelming" new products being launched by its competitors. UNDERWHELMING COMPETITION: Fitbit's sales guidance for this holiday quarter looks conservative, contends Bank of America analyst Nat Schindler, who notes that the company only had the launch of one new product last December but will have the Charge, Charge HR and Surge to drive sales this season. Schindler also notes that the company's international advertising has expanded into more countries ahead of the holidays this year. Key, however, may be the "underwhelming" lineup of new or updated fitness trackers launched by competitors, such as the Microsoft's (MSFT) Band 2, Jawbone's UP4 and Sony's (SNE) Smartband 2, many of which have only minor improvements and no "must have" features to pull consumers away from Fitbit, Schindler told investors in his research note. PLATFORM PICKING UP STEAM: The analyst also pointed out that Fitbit now has more than 20 companies signed onto its health and wellness platform, including big names like Target (TGT) and Barclays (BCS), which he believes should help drive revenue beats in the upcoming fiscal year due to increased device sales. Also, the additional dashboard data should help Fitbit maintain long-term user engagement, said Schindler. APPLE WATCH: Apple's (AAPL) Apple Watch is largely viewed as the biggest potential competitive threat to Fitbit's offerings, but on the fitness tracker maker's last earnings call CEO James Park said Fitbit's products differ from those of its competitors in several key aspects, including pricing, cross-platform compatibility, brand awareness and product line breadth. Other wearables makers include Garmin (GRMN) and Samsung. PRICE ACTION: Since the day after Fitbit's last earnings report after the market close on November 2, its shares have fallen about 29.5% to close yesterday at $28.80. In pre-market trading this morning, Fitbit shares rose 2% to $29.40.
08:04 EDTENDP, WATStifel to hold a conference
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08:03 EDTFSLRSolar module makers outlook positive, says Bernstein
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07:56 EDTMSFTUBS to hold a conference
Global Technology Conference is being held in San Francisco on November 16-18 with webcasted company presentations to begin on November 17 at 10:45 am.; not all company presentations may be webcasted. Webcast Link
07:50 EDTJPM, BK, WFCClearing House to hold a conference
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07:48 EDTWFC, JPMBofa/Merrill to hold a conference
Banking & Financial Services Conference 2015 is being held in New York on November 17-18.
07:27 EDTABCAmerisourceBergen reinstated with an Outperform at Credit Suisse
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06:16 EDTMSFTMicrosoft turns around flawed security technology, NY Times says
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