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Stock Market & Financial Investment News

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.
News For ACAD;BDSI;CAMP;CHKE;EBS;FCF;GSK;GLRI;ITW;ICPT;LEJU;MPET;PBCT;RAX;SUSQ From The Last 14 Days
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May 12, 2015
08:01 EDTRAXRackspace downgraded to Equal Weight following Q1 report at Morgan Stanley
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07:51 EDTRAXRackspace outlook still positive, says Wells Fargo
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07:51 EDTRAXRackspace weakness a buying opportunity, says Cowen
Cowen noted shares of Rackspace were lower following its Q1 results and "disappointing" Q2 guidance, but the firm sees the weakness providing a buying opportunity. The firm believes the company's fundamentals remain intact and sees the potential for a major public cloud partnership in Q3. Cowen reiterated its Outperform rating and $74 price target on Rackspace shares.
07:26 EDTRAXRackspace weakness creates buying opportunity, says Stifel
After Rackspace reported in-line Q1 results and provided weaker than expected Q2 revenue guidance, Stifel says the guidance miss was primarily timing related. The firm believes that the company's momentum remains strong, while its fundamental outlook is unchanged. It adds that the deal which was postponed, causing the guidance miss, was a key win for the company. Stifel keeps a Buy rating on the shares.
07:00 EDTBDSIBioDelivery Sciences price target lowered to $12 from $17 at Cantor
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06:10 EDTRAX, RAXRackspace downgraded to Outperform from Buy at CLSA
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06:10 EDTRAXRackspace downgraded to Equal Weight from Overweight at Morgan Stanley
06:02 EDTGSKGSK CEO cites 'poor choices' in rivals' M&A deals, Financial Times reports
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May 11, 2015
19:15 EDTRAXOn The Fly: After Hours Movers
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16:04 EDTRAXRackspace sees Q2 revenue growth 1.5%-2.5% at constant currency
The company said, "For the second quarter of 2015, Rackspace expects revenue to grow between 1.5 percent and 2.5 percent on a constant currency basis and adjusted EBITDA margins to be between 32 percent and 34 percent."
16:03 EDTRAXRackspace reports Q1 EPS 20c, consensus 20c
Reports Q1 revenue $480.2M, consensus $481.57M.
15:54 EDTGSKGlaxo CEO defends strategy, warns of risks of chasing higher prices, FT says
GlaxoSmithKline (GSK) CEO Andrew Witty defends the company's shift in focus from high-priced prescription drugs to higher volume, but lower priced, products, warning that chasing ever-higher prices risks undermining the industry and may create "its own tension that leads to some kind of change,” reported Financial Times, citing an interview. Witty acknowledges the company's asset swap with Novartis (NVS) opens the door to a potential break up, but argues there are benefits to keeping pharmaceuticals, vaccines and consumer goods together and there would be “no logic” in a split at this early time after the Novartis deal, the report added. Reference Link
15:00 EDTRAXNotable companies reporting after market close
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11:16 EDTRAXRackspace volatility increases into Q1 and outlook
Rackspace May call option implied volatility is at 92, June is at 40, September is at 39; compared to its 90-day average of 37, suggesting large near term price movement into the expected release of Q1 results today.
09:01 EDTCHKECherokee announces extension of license agreement for Cherokee brand in Japan
Cherokee Global Brands has extended its agreement for its namesake CHEROKEE brand with Nishimatsuya Chain Co., Ltd. The multi-year extension covers a wide range of lifestyle categories for babies and children, including clothing, footwear, accessories and home products.
08:39 EDTFCFFirst Commonwealth acquires First Community Bank in Ohio for $14.75M in cash
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07:16 EDTBDSIBioDelivery Sciences reports 11K prescriptions dispensed for Bunavail during Q1
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07:16 EDTBDSIBioDelivery Sciences reports Q1 EPS (16c), consensus (19c)
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06:10 EDTICPTIntercept reports Q1 EPS ($1.78), consensus ($1.69)
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05:58 EDTGSKUNC, GlaxoSmithKline create dedicated HIV Cure center
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