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Stock Market & Financial Investment News

News Breaks
March 10, 2014
10:55 EDTACAD, ACAD, ATTU, ATTU, CODE, CODE, AERI, AERI, EGAN, EGAN, IMAX, IMAX, SPNS, SPNS, JAKK, JAKK, CNAT, CNAT, BIRT, BIRT, BDSI, BDSI, PERI, PERIRoth Capital to hold a conference
26th Annual Growth Stock Conference is being held in Dana Point, California on March 9-12 with webcasted company presentations to begin on March 10 at 11 am; not all company presentations may be webcasted. Webcast Link
News For ACAD;BDSI;BIRT;CNAT;JAKK;SPNS;IMAX;EGAN;AERI;CODE;ATTU;PERI From The Last 14 Days
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December 19, 2014
10:17 EDTBDSIOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Aviva (AV) upgraded to Outperform from Market Perform at Bernstein... Basic Energy (BAS) upgraded to Buy from Accumulate at Tudor Pickering... BioDelivery Sciences (BDSI) upgraded to Buy from Neutral at Roth Capital... CVS Health (CVS) upgraded at SunTrust... CVS Health (CVS) upgraded to Buy from Neutral at SunTrust... EPR Properties (EPR) upgraded to Hold from Underweight at KeyBanc... Ensco (ESV) upgraded to Accumulate from Hold at Tudor Pickering... First Marblehead (FMD) upgraded to Buy from Neutral at Compass Point... GOL Linhas (GOL) upgraded to Outperform from Neutral at Credit Suisse... Medical Properties Trust (MPW) upgraded to Hold from Underweight at KeyBanc... NVIDIA (NVDA) upgraded to Neutral from Underperform at BofA/Merrill... NewStar Financial (NEWS) upgraded to Buy from Neutral at Sidoti... Orange SA (ORAN) upgraded to Buy from Hold at Deutsche Bank... Parker Drilling (PKD) upgraded to Buy from Accumulate at Tudor Pickering... Potash (POT) upgraded to Buy from Neutral at UBS... Teekay Tankers (TNK) upgraded to Buy from Neutral at BofA/Merrill... Tidewater (TDW) upgraded to Accumulate from Hold at Tudor Pickering... Unum Group (UNM) upgraded to Buy from Neutral at Compass Point... WPP PLC (WPPGY) upgraded to Buy from Neutral at Citigroup... Weatherford (WFT) upgraded to Buy from Hold at Tudor Pickering.
08:27 EDTBDSIBioDelivery Sciences upgraded to Buy from Neutral at Roth Capital
Roth Capital upgraded BioDelivery Sciences to Buy based on recent share weakness. Price target lowered to $18.
December 18, 2014
10:19 EDTIMAXSony hack fallout highlights value of IT security spending, analyst says
The hacking of Sony's (SNE) Sony Pictures unit shows that spending more on IT security is worthwhile for companies, Wells Fargo analyst Gray Powell wrote in a note to investors today. WHAT'S NEW: Sony has decided not release the film "The Interview" as planned on December 25, due several theater chains' plans to not show the movie amid threats, CNBC reported. The New York Times said American intelligence officials have determined that the North Korean government was “centrally involved” in the cyber attacks on Sony Pictures. Sony's experience shows that being hacked is much more costly than spending on IT security, Powell stated. After being hacked, Sony has had to cancel the release of its film "The Interview," which it spent $ 42M to make, and it will have to spend more money on fixing the security breach and defending itself against lawsuits triggered by the incident, the analyst stated. Additionally, the company's brand has been damaged, Powell believes. By contrast, Sony spends just $20M per year on IT security, the analyst roughly estimated. Incidents like the hacking of Sony will cause companies to spend a higher percentage of their budgets on IT security next year, according to Powell. He kept Outperform ratings on IT security companies Check Point (CHKP), FireEye (FEYE), Fortinet (FTNT), Palo Alto (PANW), and Proofpoint (PFPT). WHAT'S NOTABLE: Analysts at B. Riley said IMAX (IMAX) and RealD (RLD) could benefit from Sony's cancellation of "The Interview" due to the demand shift towards their respective film slates. The analyst believes both IMAX and RealD could generate an incremental 1c in EPS during the period. PRICE ACTION: In early trading, FireEye jumped 5% to $30, Palo Alto advanced 3.2% to $123.87, Proofpoint gained 2% to $47.87 and Check Point climbed 1.4% to $78.16.
07:23 EDTIMAXIMAX and RealD could benefit from The Interview cancellation, says B. Riley
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December 16, 2014
09:02 EDTBIRTOpen Text commences tender offer forActuate
Open Text (OTEX) announced that its wholly-owned subsidiary, Asteroid Acquisition Corporation, has commenced its previously announced tender offer for all outstanding shares of common stock of Actuate (BIRT), including the associated preferred stock purchase rights issued under the Rights Agreement, at a price of $6.60 per share. The tender offer is scheduled to expire at 9:00 A.M., New York City time, on Friday, January 16, unless the offer is extended or earlier terminated.
December 15, 2014
17:20 EDTBIRTOpen Text reports 11.9% stake in Actuate
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December 10, 2014
08:54 EDTCODECypress Semiconductor price target raised to $18 from $13 at Sterne Agee
Sterne Agee increased its price target on Cypress (CY) as the firm expects the company's merger with Spansion (CODE) to produce about $135M of synergies, with 50% of the synergies materializing in the first year. The firm keeps a Buy rating on Cypress.
07:53 EDTPERIUBS to hold a conference
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December 9, 2014
07:41 EDTSPNSBarclays to hold a conference
Global Technology Conference is being held in San Francisco on December 9-10 with webcasted company presentations to begin on December 9 at 10:40 am; not all company presentations may be webcasted. Webcast Link
December 8, 2014
10:20 EDTCODEOptions with decreasing implied volatility
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07:01 EDTBDSIBioDelivery Sciences completes randomization in trial of clonidine topical gel
BioDelivery Sciences announced that it has completed the randomization of all patients in BDSI's ongoing initial pivotal Phase 3 clinical trial for Clonidine Topical Gel for the treatment of painful diabetic neuropathy. BDSI anticipates that topline results of the study will be available by the end of March 2015. The Phase 3 trial is a multicenter, randomized, double-blind, placebo-controlled study to determine the efficacy and safety of Clonidine Topical Gel in the treatment of pain associated with PDN. In the trial, known as the RHAPSODY Study, subjects were randomized to receive either Clonidine Topical Gel or a placebo gel. Two hundred and sixty three adult subjects were randomized into the 12 week double-blind treatment phase of the study. This is the first of two pivotal trials that would be required for submission of a New Drug Application to the U.S. Food and Drug Administration. FDA has granted Fast Track designation for the program, which recognizes the need of developing new therapies for this serious condition. BDSI plans to begin the second Phase 3 study during the first quarter of 2015.
December 5, 2014
16:52 EDTCODEDow just below 18K as market finishes week with gains
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16:36 EDTBIRTOn The Fly: Closing Wrap
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13:15 EDTATTUAttunity Ltd to host analyst and investor day
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10:40 EDTCODEOptions with decreasing implied volatility
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10:00 EDTCODEOn The Fly: Analyst Downgrade Summary
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09:02 EDTBIRTActuate to be acquired by Open Text in deal with equity value of $330M
Actuate Corporation (BIRT) announced that it has entered into an agreement to be acquired by OpenText (OTEX). Under the terms of the merger agreement, an affiliate of OpenText will commence a tender offer to the Actuate stockholders to purchase any and all shares of common stock they hold for $6.60 in cash per share. The purchase price represents an approximately 89% premium to the closing price of Actuate common stock on December 4, 2014, and an equity value of approximately $330M. The addition of Actuate enables OpenText to enhance their products with embedded analytics as well as enter a growing market. Together Actuate and OpenText will seek to extend the benefits of embedded analytics to more geographies and industries. Industry research indicates embedded analytics is increasing in its importance. Embedded analytics turns information into intelligence by providing users with relevant, actionable insights delivered within the context of the application. This adds substantial value for companies embedding analytics into applications to help drive better customer engagement and improved decision making. The Board of Directors of Actuate has unanimously approved the transaction. The transaction is expected to close in 1Q15, subject to Actuate stockholders tendering a majority of Actuate’s outstanding shares pursuant to the tender offer and other customary closing conditions, including regulatory approvals.
09:01 EDTBIRTOpen Text agrees to acquire Actuate for $6.60 per share
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06:49 EDTCODESpansion downgraded to Neutral from Buy at Sterne Agee
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