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Stock Market & Financial Investment News

News Breaks
July 22, 2014
10:00 EDTWPG, QSII, NEP, CSG, TSE, QIWI, MTX, ZPIN, SRPT, PTCT, ENPH, ABY, AXYS, ATNMOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Abengoa Yield (ABY) initiated with an Equal Weight at Morgan Stanley... Actinium Pharmaceuticals (ATNM) initiated with a Buy at Canaccord... Axys Technologies (AXYS) initiated with a Buy at Dougherty... Chambers Street Properties (CSG) initiated with a Neutral at SunTrust... Enphase Energy (ENPH) initiated with a Buy at Dougherty... Minerals Technologies (MTX) initiated with an Outperform at Wedbush... NextEra Energy Partners (NEP) initiated with a Buy at BofA/Merrill... PTC Therapeutics (PTCT) initiated with a Buy at BofA/Merrill... QIWI (QIWI) initiated with a Positive at Susquehanna... Quality Systems (QSII) initiated with a Buy at Topeka... Sarepta (SRPT) initiated with a Neutral at BofA/Merrill... Trinseo S.A. (TSE) initiated with a Buy at BofA/Merrill... Washington Prime Group (WPG) initiated with a Neutral at SunTrust... Zhaopin (ZPIN) initiated with a Buy at UBS.
News For ABY;ATNM;AXYS;CSG;ENPH;MTX;NEP;PTCT;QIWI;QSII;SRPT;TSE;WPG;ZPIN From The Last 14 Days
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February 25, 2015
07:07 EDTCSGChambers Street Properties reports Q4 core FFO 18c, consensus 18c
Reports Q4 revenue $68.8M, consensus $68.36M.
06:14 EDTPTCTPTC Therapeutics takeout price likely tops $100/share, said Credit Suisse
Credit Suisse yesterday raised its price target for PTC Therapeutics (PTCT) shares to $100 from $66 after Reuters reported the drug market is starting a sale process with Shire (SHPG) and Biomarin (BMRN) as possible suitors. The firm believes a takeout is a likely outcome before or after data the Phase III data expected to be announced in October. PTC has Translarna Phase III trials ongoing in Duchenne muscular dystrophy and cystic fibrosis to support full approval in the U.S. Credit Suisse said yesterday in a note to investors that a takeout value for the company likely exceeds $100 per share. It believes PTC would be a good fit for Vertex (VRTX), Biogen (BIIB), Roche (RHHBY) and others. The firm kept an Outperform rating on the stock. PTC Therapeutics shares closed yesterday up $6.20 to $71.16.
February 23, 2015
16:27 EDTPTCTOn The Fly: Closing Wrap
Stocks on Wall Street began the session in negative territory and remained there for most of the session, with the Nasdaq the lone index to post a small gain. The Dow was weighed down by shares of Boeing (BA), which slid after the stock received a downgrade. There was little in the way of positive economic news, as the most notable report showed existing homes were lower than expected due to a shortage of inventory. The averages drifted for most of the session, as investors may be waiting on the sidelines ahead of tomorrow’s banking panel testimony by Fed Chair Janet Yellen. ECONOMIC EVENTS: In the U.S., the Chicago Fed national activity index rebounded to 0.13 in January, which was nearly in-line with expectations. Existing home sales dropped 4.9% to a 4.82M rate in January, which was much worse than the expected 1.8% drop to a 4.95M unit rate. In Europe, the Ifo Institute’s measure of German business confidence rose to 106.8 in February, which was up a tenth of a percentage point from the previous month but below the 107.7 consensus forecast. Also, the Bank of Israel became the latest central bank to cut rates this year, lowering its main interest rate to 0.1% from 0.25%. COMPANY NEWS: The shares of a number of health insurers rose after the Centers for Medicare and Medicaid Services, or CMS, issued preliminary 2016 Medicare Advantage rates. According to Credit Suisse, the rates were favorable for the insurers. Following the CMS announcement made late Friday, Humana (HUM) climbed $8.40, or 5.38%, to $164.52, UnitedHealth (UNH) rose $3.78, or 3.36%, to $116.40, and WellCare (WCG) gained $4.68, or 5.53%, to $89.30. MAJOR MOVERS: Among the notable gainers was PTC Therapeutics (PTCT), which jumped $9.77, or 17.7%, to $64.96 after Reuters said the company is working with financial advisers to explore a potential sale after receiving takeover interest from several companies including Shire (SHPG) and BioMarin (BMRN). Also higher was Valeant (VRX), which rose $25.49, or 14.71%, to $198.75 after the company agreed to buy Salix (SLXP) for $158 per share and also reported better-than-forecast earnings. Salix shares, however, fell $2.09, or 1.32%, to $155.76, as a report Friday from CNBC's David Faber telegraphed the deal and suggested Valeant could value Salix around $160 per share. Among the noteworthy losers was Spectrum Pharmaceuticals (SPPI), which dropped $1.18, or 15.82%, to $6.28 after a judge ruled that a drug which could compete with the company's Fusilev treatment does not infringe on the company's intellectual property. Also lower were shares of Boeing, which fell $3.57, or 2.26%, to $154.74 after the stock was downgraded to Sell from Neutral at Goldman Sachs. INDEXES: The Dow fell 23.60, or 0.13%, to 18,116.84, the Nasdaq gained 5.01, or 0.1%, to 4,960.97, and the S&P 500 slipped 0.64, or 0.03%, to 2,109.66.
12:30 EDTPTCTPTC Therapeutics call active after report on exploring options
PTC Therapeutics March 60 and 70 calls are active on total call volume of 230 contracts (25 puts) on exploring sale amid interest from large peers, Reuters says. March call option implied volatility is at 99, April is at 78, June is at 67; compared to its 14-week average of 68 according to Track Data. Active call volume suggests traders taking positions for price movement.
12:29 EDTPTCTPTC Therapeutics exploring potential sale, Reuters reports
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12:02 EDTPTCTPTC Therapeutics jumps 14% after Reuters report on exploring options
12:01 EDTPTCTPTC Therapeutics exploring sale amid interest from large peers, Reuters says
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February 20, 2015
09:55 EDTCSGChambers Street Properties management to meet with Oppenheimer
Meeting to be held in New York on February 27 hosted by Oppenheimer.
February 17, 2015
18:36 EDTENPHOn The Fly: After Hours Movers
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17:14 EDTSRPTPoint72 lowers passive stake in Sarepta to 4.4% from 5.2%
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16:30 EDTENPHEnphase Energy sees Q1 revenue $84M-$88M, consensus $81.76M
The company said, ""In line with normal seasonality, we expect revenue for the first quarter of 2015 to be within a range of $84 million to $88 million. We continue to see strong business momentum and year-over-year growth in all our end-markets and geographies. At the midpoint of the revenue outlook range, revenue would be up 49 percent compared to the first quarter of 2014. We expect gross margin to be within a range of 31 percent to 33 percent. We also expect non-GAAP operating expenses for the first quarter of 2015 to be up 2 to 5 percent, compared to the fourth quarter of 2014, as we continue to invest in research and development and sales and marketing to support innovative new products, including the Enphase Energy Management System and the AC Battery storage solution, while further expanding our fast-growing microinverter systems business into new markets and geographies."
16:29 EDTENPHEnphase Energy reports Q4 EPS 7c, consensus 3c
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12:50 EDTSRPTOn The Fly: Midday Wrap
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10:00 EDTSRPTOn The Fly: Analyst Upgrade Summary
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09:20 EDTSRPTOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Vipshop Holdings (VIPS), up 10.9%... VASCO Data Security (VDSI), up 7.1%... Waste Management (WM), up 3.7%. ALSO HIGHER: Starwood Hotels (HOT), up 1.9% after appointing Adam Aron as interim CEO... Sarepta Therapeutics (SRPT), up 7.3% after being upgraded at BofA/Merrill... Navidea Biopharmaceuticals (NAVB), up 7.5% after publishing results of phase 3 Lymphoseek trial... Campus Crest (CCG), up 7.7% after announcing that it will explore strategic alternatives as well as Clinton Group and Campus Evolution proxy contest... Cyren (CYRN), up 7.1% following distribution agreement with ALSO Deutschland. DOWN AFTER EARNINGS: Helix Energy (HLX), down 13.3%... Walter Energy (WLT), down 10.1%. ALSO LOWER: Celsus Therapeutics (CLTX), down 82.3% after MRX-6 Cream 2% Phase II trial did not meet primary endpoint... Vascular Biogenics (VBLT), down 53.2% after reporting that VB-201 Phase 2 studies did not meet primary endpoints and removal of FDA partial clinical hold on VB-111... Vanguard Natural Resources (VNR), down 7.1% after reporting preliminary fourth quarter results.
08:10 EDTENPHTop U.S. solar ideas into Q4 at Goldman
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07:43 EDTSRPTSarepta upgraded at BofA/Merrill
As previously reported, BofA/Merrill upgraded Sarepta to Buy from Neutral. The firm has increased confidence that eleplirsen will be approved for treating boys with DMD. Price target raised to $21 from $19.
February 16, 2015
16:58 EDTZPINZhaopin sees Q4 revenue $49.2M-$50.8M, consensus $51.1M
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16:57 EDTZPINZhaopin reports Q2 EPS 20c
Reports Q2 revenue $55.1M, consensus $53.5M.
15:41 EDTNEPNextEra Energy announces year-long CFO transition
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