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Stock Market & Financial Investment News

News Breaks
December 20, 2012
10:11 EDTFANG, PRAN, PBCT, CDE, TROV, PDCO, SNSS, RLOC, TAP, LXP, IEC, BREW, BLK, ABT, LNCO, HTA, CPTS, SAM, INXN, DVA, CNSI, ARRYOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Abbott (ABT) initiated with an Outperform at William Blair... Array BioPharma (ARRY) initiated with an Outperform at Wells Fargo... BlackRock (BLK) initiated with an Overweight at JPMorgan... Boston Beer (SAM) initiated with a Neutral at Citigroup... Comverse (CNSI) initiated with a Neutral at JPMorgan... Conceptus (CPTS) initiated with a Buy at Stifel Nicolaus... Craft Brew (BREW) initiated with a Neutral at Citigroup... DaVita (DVA) initiated with an Overweight at JPMorgan... Healthcare Trust (HTA) initiated with an Outperform at Wells Fargo... IEC Electronics (IEC) initiated with a Buy at C.K. Cooper... InterXion (INXN) initiated with a Neutral at Goldman... Lexington Realty (LXP) initiated with a Buy at Jefferies... LinnCo (LNCO) initiated with an Outperform at Wells Fargo... Molson Coors (TAP) initiated with a Neutral at Citigroup... Patterson Companies (PDCO) initiated with a Buy at Stifel Nicolaus... People's United (PBCT) initiated with an Underweight at Evercore... ReachLocal (RLOC) initiated with a Buy at Janney Capital... Sunesis (SNSS) initiated with an Outperform at Wells Fargo... Trovagene (TROV) initiated with a Buy at Roth Capital... Prana (PRAN) initiated with an Outperform at Burrill... Coeur d’Alene Mines (CDE) initiated with an Accumulate at Global Hunter... Diamondback Energy (FANG) initiated with a Market Perform at Raymond James.
News For ABT;ARRY;SAM;BLK;CNSI;CPTS;BREW;DVA;HTA;IEC;INXN;LNCO;LXP;TAP;PDCO;PBCT;RLOC;TROV;PRAN;SNSS;CDE;FANG From The Last 14 Days
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April 16, 2015
07:03 EDTPBCTPeople's United increases quarterly dividend to annual rate of 67c
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07:03 EDTPBCTPeople's United reports Q1 EPS 20c, consensus 20c
Reports Q1 operating earnings 21c vs. 19c last year. Reports Q1 revenue $322.9M, consensus $313.47M
05:48 EDTBLKBlackRock reports Q1 AUM up 8%
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05:47 EDTBLKBlackRock reports Q1 long-term net inflows of $70.4B
Flows were positive across all long-term asset classes, client types, regions and investment styles, with active net inflows of $32B and index net inflows of $38B. Reports Q1 Institutional long-term net inflows of $21B. Long-term net inflows were positive across all regions, with net inflows of $47.5B, $17.7B and $5.2B from clients in the Americas, EMEA and Asia-Pacific, respectively. At March 31, 2015, BlackRock managed 62% of its long-term AUM for investors in the Americas and 38% for clients in EMEA and Asia-Pacific.
05:45 EDTBLKBlackRock reports Q1 adjusted EPS $4.89, consensus $4.52
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April 15, 2015
10:19 EDTLNCOOptions with decreasing implied volatility
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10:01 EDTDVADaVita sees taking $250M reserve for Vanier litigation
In a regulatory filing yesterday related to a bond offering, DaVita noted it has received subpoenas or other requests for documents from the federal government in connection with the Vainer private civil suit, the Swoben private civil suit, the 2011 U.S. Attorney Medicaid investigation, the 2015 U.S. Attorney Transportation Investigation and the JSA investigation. In each of the Vainer and Swoben private civil suits, a relator filed a complaint against the company in federal court under the qui tam provisions of the False Claims Act and pursued the claims independently after the government declined to intervene. With regard to the Vanier private civil suit, the parties are engaged in active litigation. The parties in that suit completed discovery in early 2014; however, in August 2014, the court granted relators’ motion for sanctions and reopened discovery on a limited basis. The court in Vainer is considering the plaintiffs’ request for further sanctions, which could result in a range of outcomes from no other sanctions to plaintiffs’ request to strike our answer. Certain of these sanctions could materially adversely impact the company's ability to defend the case, DaVita said. "While we cannot predict the ultimate outcome of this case, if the case is resolved in favor of the plaintiffs, its resolution could have a material adverse effect on our earnings and cash flows. We recently commenced settlement discussions with the plaintiffs in Vainer." The company said it expects to accrue an estimated loss contingency reserve of $250M related to this matter. "Negotiations are ongoing and we can make no assurances as to whether the Vainer suit will settle and, if it does settle, whether it will settle for an amount higher than the current reserve," DaVita added. With regard to the Swoben private civil suit, in July 2013, the court granted HCP’s motion and dismissed with prejudice all of the claims in the Third Amended Complaint, and in October 2013 the plaintiff filed an appeal of the dismissal, which is currently pending.
10:00 EDTFANGOn The Fly: Analyst Initiation Summary
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07:49 EDTBLKJPMorgan to hold a conference
Public Finance Transportation & Utility Conference is being held in New York on April 15-16.
07:41 EDTABTEBD Group to hold a forum
ChinaBio Partnering Forum 2015 is being held in Shanghai, China on April 15-16.
06:42 EDTFANGDiamondback Energy initiated with a Conviction Buy at Goldman
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06:11 EDTCNSIComverse and Tech Mahindra sign global strategic relationship
Comverse and Tech Mahindra have reached an agreement on a strategic relationship, whereby Comverse will accelerate its transformation in digital services by leveraging Tech Mahindra's expertise and scale in development and delivery of digital offerings. As part of this initiative, employees from certain functions within Comverse's Digital Services business unit are anticipated to join Tech Mahindra. Tech Mahindra will complement Comverse's R&D and engineering operations through innovation in product development techniques and just-in-time capability reinforcement. The program is expected to be implemented starting June 1.
April 14, 2015
14:16 EDTBLKBlackRock April volatility elevated at 38 into Q4 and outlook
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12:13 EDTDVADaVita announces $725.94M repurchase program
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10:01 EDTTAP, SAMOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AB InBev (BUD) initiated with a Neutral at Susquehanna... AMC Networks (AMCX) initiated with an Overweight at Piper Jaffray... Avery Dennison (AVY) initiated with a Hold at BB&T... Boston Beer (SAM) initiated with a Neutral at Susquehanna... Brocade (BRCD) initiated with a Neutral at Wedbush... Bunge (BG) initiated with an Overweight at Stephens... CIRCOR (CIR) initiated with a Speculative Buy at Global Hunter... Cabot Microelectronics (CCMP) initiated with a Buy at BB&T... Canadian Natural (CNQ) initiated with a Buy at GMP Securities... Cenovus Energy (CVE) initiated with a Hold at GMP Securities... China Distance Education (DL) initiated with a Buy at Brean Capital... Coca-Cola Enterprises (CCE) initiated with a Negative at Susquehanna... Coca-Cola (KO) initiated with a Negative at Susquehanna... Constellation Brands (STZ) initiated with a Neutral at Susquehanna... Discover (DFS) initiated with an Outperform at Wells Fargo... Dr Pepper Snapple (DPS) initiated with a Neutral at Susquehanna... Flex Pharma (FLKS) initiated with a Buy at H.C. Wainwright... Flowserve (FLS) initiated with a Neutral at Global Hunter... Goldman Sachs BDC (GSBD) initiated with a Neutral at BofA/Merrill... ITT Corp. (ITT) initiated with an Accumulate at Global Hunter... Intra-Cellular (ITCI) initiated with an Outperform at RBC Capital... Keurig Green Mountain (GMCR) initiated with a Positive at Susquehanna... Microsemi (MSCC) initiated with a Buy at Topeka... Molson Coors (TAP) initiated with a Positive at Susquehanna... Monster Beverage (MNST) initiated with a Neutral at Susquehanna... New Oriental Education (EDU) initiated with a Hold at Brean Capital... OM Group (OMG) initiated with a Buy at BB&T... Pattern Energy (PEGI) initiated with a Buy at Citigroup... Pentair (PNR) initiated with a Neutral at Global Hunter... PepsiCo (PEP) initiated with a Positive at Susquehanna... Ply Gem (PGEM) initiated with an Overweight at KeyBanc... SodaStream (SODA) initiated with a Positive at Susquehanna... Splunk (SPLK) initiated with an Outperform at Baird... SteadyMed (STDY) initiated with an Outperform at JMP Securities... Suncor (SU) initiated with a Hold at GMP Securities... SuperCom (SPCB) initiated with a Buy at B. Riley... TAL Education (XRS) initiated with a Buy at Brean Capital... Tarena (TEDU) initiated with a Buy at Brean Capital... Ulta Salon (ULTA) initiated with a Buy at Evercore ISI... Versartis (VSAR) initiated with a Buy, $50 target at SunTrust... WisdomTree (WETF) initiated with a Market Perform at Keefe Bruyette... uniQure (QURE) initiated with a Buy at Roth Capital.
09:06 EDTABTAbbott and Sekisui announce collaboration for coagulation testing
Abbott and Sekisui announce an agreement to offer coagulation testing solutions for laboratories worldwide. Coagulation tests measure a person's blood clotting ability, which can help doctors assess risks of excessive bleeding or developing clots. Under the agreement, Abbott will be the exclusive distributor of Sekisui's new CP3000 coagulation instrument in the United States, Europe and other regions that recognize CE Mark.
07:06 EDTCDECoeur Mining sees FY15 production up 34% to 149,000 oz
Coeur Mining announced an updated and re-scoped mine plan and a preliminary economic assessment for its Kensington gold mine located in Southeast Alaska. The new mine plan reflects the recent discovery of the high-grade Jualin zone and indicates higher overall production and significantly higher cash flows due to the contribution of higher-grade material from three nearby zones. The Jualin zone, located approximately 8,250 feet from current mining activities, continues to expand based on ongoing drilling and contains an average gold grade over three times the average reserve grade of 0.185 oz/ton. Annual gold production between 2015 and 2020 at Kensington is expected to average approximately 128,000 ounces and costs applicable to sales are expected to average $820 per gold ounce. Production in 2014 was 117,823 ounces at a CAS of $951 per gold ounce. Mitchell J. Krebs, Coeur's CEO, stated, "Our recent success identifying high-grade mineralization near existing Kensington infrastructure has added higher-margin production to our mine plan and significantly improved the expected economics of the mine. Kensington's new mine plan is expected to be a key component of the company's overall strategic repositioning that is expected to increase overall production levels by approximately 30%, reduce overall unit costs by approximately 25%, and boost the company's free cash flow to $190M-$200M in 2017."
April 13, 2015
17:17 EDTTAPMolson Coors initiated with a Positive at Susquehanna
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17:15 EDTTAPMolson Coors initiated with a Positive at Susquehanna
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17:10 EDTSAMBoston Beer initiated with a Neutral at Susquehanna
Target $300.
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