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Stock Market & Financial Investment News

News Breaks
April 18, 2013
10:00 EDTTRV, POT, MM, ACGL, AGU, SCSS, ACCO, QLYS, PKI, CPHD, AON, AIG, CPRX, WGP, QGEN, PRE, MMC, AXS, ACE, P, AVGOOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: ACE Ltd. (ACE) initiated with an Outperform at BMO Capital... AIG (AIG) initiated with an Outperform at BMO Capital... AXIS Capital (AXS) initiated with an Outperform at BMO Capital... Agrium (AGU) initiated with an Overweight at HSBC... Aon Corp. (AON) initiated with an Underperform at BMO Capital... Arch Capital (ACGL) initiated with a Market Perform at BMO Capital... Cepheid (CPHD) initiated with a Neutral at Citigroup... Marsh & McLennan (MMC) initiated with a Market Perform at BMO Capital... Millennial Media (MM) initiated with an Outperform at Northland Securities... Mosaic (MOS) initiated with a Neutral at HSBC... PartnerRe (PRE) initiated with a Market Perform at BMO Capital... PerkinElmer (PKI) initiated with a Neutral at Citigroup... Potash (POT) initiated with an Overweight at HSBC... QIAGEN (QGEN) initiated with a Sell at Citigroup... Qualys (QLYS) initiated with an Outperform at Imperial Capital... Travelers (TRV) initiated with an Outperform at BMO Capital... ACCO Brands (ACCO) initiated with a Buy at Sidoti... Western Gas Equity (WGP) initiated with a Buy at Global Hunter... Avago (AVGO) initiated with a Buy at Craig-Hallum... Catalyst Pharmaceutical (CPRX) initiated with a Buy at Aegis... Select Comfort (SCSS) reinstated with an Outperform at Raymond James... Pandora (P) initiated with a Neutral at Lazard Capital.
News For ACE;AIG;AGU;AXS;AON;ACGL;MMC;CPHD;MM;PRE;PKI;POT;QGEN;QLYS;TRV;WGP;ACCO;AVGO;CPRX;SCSS;P From The Last 14 Days
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June 24, 2015
07:39 EDTAVGOAvago initiated with a Buy at Argus
Target $163.
07:05 EDTQGENTokai announces start of Phase 3 ARMOR3-SV trial of mCRPC treatment
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June 23, 2015
12:54 EDTAVGOPC concerns weighing on shares of Seagate, Western Digital
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12:08 EDTPPandora down 1% after Google launches free music service
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12:05 EDTPGoogle launches free, ad-supported music service in U.S.
Google (GOOG) announced via a blob post that Google Play Music now has a "free, ad-supported version" in the U.S. It stated, "Our team of music experts, including the folks who created Songza, crafts each station song by song so you don’t have to. If you’re looking for something specific, you can browse our curated stations by genre, mood, decade or activity, or you can search for your favorite artist, album or song to instantly create a station of similar music." Shares of Pandora (P) ticked lower following Google's announcement.
10:08 EDTPREPartnerRe 'corrects' EXOR's 'misleading' press release on preferred shares
PartnerRe Ltd. (PRE) corrected "recent misleading statements made by EXOR regarding PartnerRe’s ratings in the event of a sale to EXOR. EXOR’s June 16 release implies that EXOR had received official guidance from Standard and Poor’s on the ratings of PartnerRe under potential EXOR ownership. PartnerRe believes it is imperative to make clear the following facts: S&P has not taken a view nor has it made any public statements regarding the credit or financial strength ratings of PartnerRe in the event of an EXOR acquisition. EXOR’s statements with regard to PartnerRe’s potential credit ratings are misleading, and do not reflect the views of S&P or S&P’s analyst for PartnerRe. PartnerRe does not anticipate that S&P will comment on the potential rating implications of a hypothetical EXOR acquisition of PartnerRe unless and until a definitive merger agreement is in place. Unlike common shareholders, perpetual preferred shareholders and creditors would retain a continuing interest in PartnerRe post-acquisition by EXOR. Preferred shares would be a fundamentally different security if PartnerRe were owned by EXOR vs. merged with AXIS (AXS). Notwithstanding EXOR’s assertions, PartnerRe’s credit standing and ratings will be impacted by developments at EXOR and vice versa. PartnerRe continues to believe that there is considerable downside risk involved in a sale to EXOR, on its current price and terms, especially for preferred shareholders."
08:28 EDTPRE, AXSEXOR says offer for PartnerRe 'superior by all significant measures'
EXOR S.p.A., the largest shareholder of PartnerRe Ltd. (PRE), is entering the second week of meetings with PartnerRe analysts and investors to ensure the maximum clarity regarding its offer for PartnerRe shareholders. EXOR says it "has received a positive response for its offer and for the presentation of the merits, certainty and superiority of its $137.50 per share, all-cash binding offer. In the face of the compelling facts presented by EXOR, after having already disseminated false statements on the EXOR transaction not endorsed by Standard & Poor’s PartnerRe continues its irresponsible campaign of intentionally and inappropriately misleading its shareholders. The more the PartnerRe board misleads its shareholders on the merits of the EXOR offer the clearer it is that the inferior AXIS (AXS) transaction is short on substance and long on execution and integration risks for its shareholders, employees and clients. EXOR is soliciting common and preferred shareholders to vote AGAINST the proposed AXIS transaction at the upcoming Special General Meeting of PartnerRe shareholders to be held on July 24. This will enable PartnerRe to accept EXOR’s superior offer for the company."
June 22, 2015
10:00 EDTMMC, AXSOn The Fly: Analyst Downgrade Summary
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07:59 EDTAXSAXIS Capital downgraded to Neutral from Buy at MKM Partners
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07:03 EDTPRE, AXSPartnerRe files presentation detailing risks posed by EXOR's offer
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06:26 EDTAXSAXIS Capital downgraded to Neutral from Buy at MKM Partners
05:39 EDTMMCMarsh & McLennan downgraded to Neutral from Buy at Goldman
Goldman Sachs downgraded Marsh & McLennan to Neutral citing the stock's proximity to its unchanged price target of $60. Goldman notes shares are up 61% since the firm upgraded Marsh to Buy on February 6, 2013.
June 19, 2015
10:00 EDTWGPOn The Fly: Analyst Initiation Summary
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07:10 EDTWGPWestern Gas Equity initiated with an Overweight at JPMorgan
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06:14 EDTACGL, PRE, AXSAxis, Arch Capital not in deal talks, Reuters reports
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June 18, 2015
10:01 EDTACGLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Arch Capital (ACGL) downgraded to Market Perform from Outperform at BMO Capital... Bankrate (RATE) downgraded on revenue headwinds at SunTrust... Carter's (CRI) downgraded to Neutral from Buy at Sterne Agee CRT... Lumenis (LMNS) downgraded to Market Perform from Outperform at Wells Fargo... Nimble Storage (NMBL) downgraded to Hold from Buy at Wunderlich... Southwest (LUV) downgraded to Underweight from Overweight at Barclays... Spirit Airlines (SAVE) downgraded to Neutral from Outperform at Credit... Webster Financial (WBS) downgraded to Underweight from Equal Weight at Morgan Stanley.
07:15 EDTPRE, ACGL, AXSArch Capital may bid as much as $65 per share for AXIS Capital, FT says
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07:10 EDTAXS, PREPartnerRe: Recommendation of AXIS deal result of 'rigorous, objective' process
PartnerRe (PRE) has made available a presentation on its website and on www.partnerre-valuecreation.com that the company says provides a "thorough overview of the rigorous and objective process its Board of Directors undertook over the past two years to achieve the best possible outcome for shareholders. The PartnerRe Board has acted – and continues to act – in the best interests of the company and its shareholders, and the merger of equals with AXIS Capital (AXS) is the result of a thorough exploration of strategic opportunities." PartnerRe added: "EXOR has made various deceptive assertions in a transparent effort to distract shareholders from the inadequacy of its opportunistic offer for PartnerRe relative to the merits of the AXIS Capital transaction. The merger of equals with AXIS Capital delivers PartnerRe shareholders superior value and a clear path to closing, and is the result of a high quality governance process...The PartnerRe Board of Directors continues to urge its shareholders of both common and preferred shares to promptly use the white proxy card to vote for the Amalgamation Agreement with AXIS Capital at the shareholder meeting on July 24."
06:44 EDTACGLArch Capital downgraded to Market Perform from Outperform at BMO Capital
BMO Capital downgraded Arch Capital to Market Perform with a $67 price target citing strong share performance year-to-date.
05:24 EDTQGENQIAGEN, Hitachi High-Technologies enter into long-term strategic collaboration
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