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July 29, 2014
10:00 EDTSTJ, LXU, BSX, LGF, ELGX, ABY, ZFGN, EVAR, DWAOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Abengoa Yield (ABY) initiated with a Neutral at HSBC... Boston Scientific (BSX) initiated with a Neutral at Sterne Agee... DreamWorks Animation (DWA) initiated with a Market Perform at FBR Capital... Endologix (ELGX) initiated with an Outperform at Credit Suisse... LSB Industries (LXU) initiated with a Buy at Feltl... Lionsgate (LGF) initiated with an Outperform at FBR Capital... Lombard Medical (EVAR) initiated with an Outperform at Credit Suisse... St. Jude Medical (STJ) initiated with a Neutral at Sterne Agee... Zafgen (ZFGN) initiated with an Outperform at JMP Securities.
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May 13, 2015
08:54 EDTABYAbengoa Yield price target raised to $48 from $44 at RBC Capital
RBC Capital increased its price target on Abengoa Yield as the firm thinks the company has implemented the correct strategy since 4Q14. The firm believes the company is undervalued, given its best-in-class contract length and broad ROFO opportunity. It keeps an Outperform rating on the shares.
08:08 EDTSTJSt. Jude Medical receives CE Mark approval of Ellipse expanded labeling
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07:31 EDTSTJ, BSXHeart Rhythm Society to hold a conference
Heart Rhythm 2015 is being held in Boston on May 13-16.
07:10 EDTLGFB. Riley to hold a conference
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May 12, 2015
16:03 EDTZFGNZafgen reports Q1 EPS (53c), consensus (65c)
"With enrollment progressing well in our Phase 2b trial in patients with severe obesity complicated by type 2 diabetes, we remain on track to release important six month interim data in late 2015 or very early 2016. The ZAF-203 trial will provide our first look at the effects of beloranib treatment on both body weight and glycemic control in the setting of type 2 diabetes, an important and difficult to treat co-morbidity of obesity," said Dr. Dennis Kim, Chief Medical Officer of Zafgen. As of March 31, the company had cash and cash equivalents and marketable securities totaling $234.2M.
07:52 EDTZFGNLeerink to hold a tour
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07:46 EDTABYAbengoa Yield price target raised to $46 from $40 at Canaccord
Canaccord raised its price target to $46 from $40 on Abengoa Yield and said shares remain undervalued given its above average ROFO pipeline, simple corporate structure, and focus on optimization of dividends. Canaccord reiterated its Buy rating on Abengoa Yield shares.
07:35 EDTSTJBofA/Merrill to hold a conference
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05:23 EDTBSXNevro announces filing of petitions for inter partes review by Boston Scientific
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May 11, 2015
16:06 EDTEVARLombard Medical reports Q1 EPS (59c), consensus (58c)
Reports Q1 revenue $3.4M, consensus $3.18M.
11:03 EDTLGFLionsgate, Google Play partner on 'The Mad Men Experience'
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08:38 EDTABYAbengoa Yield announces 450 MW acquisition From Abengoa
Abengoa Yield (ABY) has reached an agreement with Abengoa (ABGB) to acquire four solar assets consisting of: the Helios 100 MW complex, the Solnovas 150 MW complex and the remaining 70 % stake in Helioenergy 100 MW complex, of which Abengoa Yield already owns a 30% stake, all in Spain. Abengoa Yield also agreed to acquire a 51 % stake in Kaxu, a 100 MW plant in South Africa. Abengoa Yield expects these new assets to generate incremental run rate cash available for distribution of approximately $63M per year before debt service associated with acquisition financing. This represents a 9.4% acquisition yield. The acquisition includes the exercise of the 12% call option signed with Abengoa in December 2014.
08:35 EDTABYAbengoa Yield raises 2016 dividend per share guidance to $2.10-$2.15
Santiago Seage, CEO of Abengoa Yield, commented "Our largest acquisition of assets from Abengoa will double our existing installed capacity in renewable energy, while maintaining very good quality in our portfolio, with a best-in-class average remaining useful life of 23 years and all our CAFD generated from contracted or regulated assets with high quality off-takers. As a result, we are pleased to raise our guidance for the year 2016, in which we expect to distribute a dividend in the range of $2.10-$2.15 per share, an increase of up to 9 % with respect to our previous guidance. With this, we would provide a dividend per share growth of 30%-34% in 2016 vs 2015." In addition, considering Abengoa's current portfolio of assets in operation and construction, which are expected to generate cash available for distribution in the range of $310M-$360M, and future potential opportunities, the company expects to deliver a yearly dividend per share growth in the range of 12%-15%. This means that mid-term dividend growth per share from its 2015 IPO target of $1.36 would be higher than 20% per year.
08:33 EDTABYAbengoa Yield increases dividend to 34c per share
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08:32 EDTABYAbengoa Yield reports Q1 adjusted EBITDA up 106% to $105.2M
Reports Q1 revenue $118.3M, consensus $140.9M. Cash Available for Distribution reached $38.5M, more than one quarter of the 2015 CAFD guidance in spite of seasonality, the company noted.
May 10, 2015
17:35 EDTLGFDisney's 'Avengers: Age Of Ultron' leads U.S. weekend box office with $77.2M
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May 8, 2015
10:01 EDTZFGNZafgen announces positive data from Phase 2 trial of beloranib
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06:34 EDTLXULSB Industries reports Q1 Chemical business sales $126.8M
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06:33 EDTLXULSB Industries expects strong nitrogen fertilizer applications in Q2
The company commented, “We expect strong nitrogen fertilizer applications during the second quarter, as excessive rain and cooler temperatures delayed applications in the first quarter. Looking out over the balance of 2015, recent seasons of record corn corps have resulted in historically high stock-to-use ratios, which is expected to prompt a reduction in corn acres planted for the year. With fewer acres, however, we believe farmers will likely attempt to drive better yields through increased usage of nitrogen fertilizers. As such, our current view is that agricultural market fundamentals for our products will remain favorable for the foreseeable future.”
06:32 EDTLXULSB Industries reports Q1 EPS excluding items 54c, consensus 43c
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