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News Breaks
May 15, 2014
10:01 EDTPBCT, ICPT, GSK, CHKE, SUSQ, MPET, ITW, FCF, CAMP, RAX, LEJU, GLRI, EBS, ACAD, BDSIOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: ACADIA (ACAD) initiated with an Overweight at JPMorgan... BioDelivery Sciences (BDSI) initiated with a Buy at Summer Street... CalAmp (CAMP) initiated with an Overweight at Stephens... Cherokee (CHKE) initiated with a Buy at B. Riley... Emergent BioSolutions (EBS) initiated with a Buy at Summer Street... First Commonwealth (FCF) initiated with a Neutral at SunTrust... GlaxoSmithKline (GSK) initiated with an Overweight at JPMorgan... Glori Energy (GLRI) initiated with a Buy at Maxim... Illinois Tool Works (ITW) reinstated with a Neutral at Credit Suisse... Intercept (ICPT) initiated with a Buy at Summer Street... Leju (LEJU) initiated with an Outperform at Macquarie... Magellan Petroleum (MPET) initiated with a Buy at B. Riley... People's United (PBCT) initiated with a Neutral at SunTrust... Rackspace (RAX) assumed with an Overweight at JPMorgan... Susquehanna (SUSQ) initiated with a Neutral at SunTrust.
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November 11, 2014
07:51 EDTRAXRackspace price target raised to $50-$52 from $42-$46 at Wells Fargo
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07:13 EDTACADACADIA filing delay does not impact price target, says Piper Jaffray
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November 10, 2014
18:32 EDTRAX, ACADOn The Fly: After Hours Movers
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17:10 EDTRAXRackspace CEO says buyback an example of confidence in future
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17:08 EDTRAXRackspace CEO says management 'feels good' about Q4 pipeline
16:50 EDTRAXRackspace CEO says company is committed to revenue growth, margin
Comments provided during Q3 earnings conference call.
16:42 EDTRAXRackspace up 2% to $38 after Q3 results, $500M share buyback
16:40 EDTRAXRackspace says joined Microsoft Cloud OS Network
Rackspace (RAX) said it expanded its Managed Private Cloud product portfolio and joined the Microsoft (MSFT) Cloud OS Network, adding Fanatical Support for the Microsoft Cloud Platform. It stated, "This includes expertise and support for Windows Server with Hyper-V, System Center and Azure Pack. The offering is now in general availability in all U.S. data centers providing customers with SLA-backed management across the underlying infrastructure, guest operating systems, and select applications including Microsoft Exchange, SharePoint and Lync."
16:39 EDTRAXRackspace says Q4 revenue outlook includes negative FX impact
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16:37 EDTRAXRackspace announces $500M share repurchase plan
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16:10 EDTRAXRackspace sees Q4 adjusted EBITDA margin 33%-35%
16:09 EDTRAXRackspace sees Q4 EPS $469M-$476M , consensus 476.51M
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16:08 EDTRAXRackspace reports Q3 EPS 18c, consensus 16c
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16:07 EDTGSKUBS to hold a conference
UBS European Conference is being held in London, England on November 11-12.
16:05 EDTACADACADIA delays NUPLAZID application to Q1 of 2015
ACADIA said it plans to submit its NUPLAZID NDA for Parkinson's disease psychosis in Q1 of 2015. The company had previously planned to submit the NDA near the end of 2014. It stated, "The decision to move back the planned submission is based on additional time required to complete preparations needed to support the U.S. Food and Drug Administrationís, review of NUPLAZID. The change in submission timing is not a result of any change to NUPLAZIDís clinical or safety profile, nor is it a result of any interaction with or request for information from the FDA. Additionally, ACADIA reported that it has successfully completed its drug-drug interaction program and its registration stability program."
16:04 EDTACADACADIA reports Q3 EPS (25c), consensus (22c)
At September 30, 2014, ACADIAís cash, cash equivalents, and investment securities totaled $337.8M.
15:26 EDTRAX, ACADNotable companies reporting after market close
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13:47 EDTRAXRackspace technical comments before earnings
The shares have broadly outperformed in the prior three months, trading up over 16%. Since a bearish gap down in September, the stock has been trending up. A look at a 1-year chart shows the importance of the $40 level. It has been touched as resistance several times over that interval, but without being able to break through for long. On stronger than expected news, a move to the $40 area would seem probable. If the news or outlook is sufficiently strong, there could be a breakout above $40. Such a breakout given the length of time the $40 area has been resistance would be long-term bullish for price. Additional upside objectives above $40 would be at $42.09 and then at $43.83. If the news is worse than expected, there are several points of support that could be tested as downside objectives: $34.70, $32.36, and $30.74. A move down through all of the levels noted would retrace the advance made in recent months nearly completely.
08:36 EDTICPTIntercept price target lowered to $125 from $172 at FBR Capital
FBR Capital lowered its price target for Intercept shares to $125 saying its talks with experts and cardiologists indicate the company's OCA drug is unlikely to be a "silver bullet" for the treatment of nonalcoholic steatohepatitis. FBR notes that while OCA appears to improve the liver, the drug worsens many of the other derangements like lipid and glucose homeostasis. FBR decreased the probability of success in NASH to 55% from 60%, and lowered its peak OCA sales estimate to $5.2B. It keeps an Underperform rating on Intercept shares.
07:29 EDTEBSEmergent BioSolutions seeks expanded BioThrax label
Emergent BioSolutions announced that it has submitted a supplemental Biologics License Application to the FDA seeking to expand the label of BioThrax to include a post-exposure prophylaxis indication. BioThrax, the only FDA-licensed vaccine to prevent anthrax disease, is currently licensed for a pre-exposure prophylaxis indication only. The company made a Request for Priority Review Designation to potentially reduce the anticipated approval of this application to six months. The sBLA proposes to expand the BioThrax indication to include a post-exposure prophylaxis of disease resulting from suspected or confirmed Bacillus anthracis exposure when combined with the recommended course of antimicrobials in persons 18 through 65 years of age. The vaccination schedule consists of three doses of BioThrax administered at 0, 2, and 4 weeks post-exposure.
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