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Stock Market & Financial Investment News

News Breaks
May 2, 2012
10:35 EDTTRIP, STM, WWW, GNW, MAS, FBHS, FLEX, EW, BOOM, ACI, CKECOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Arch Coal (ACI) upgraded to Buy from Fair Value at CRT Capital... Carmike Cinemas (CKEC) upgraded to Outperform from Neutral at Macquarie... Dynamic Materials (BOOM) upgraded to Buy from Hold at Auriga... Edwards Lifesciences (EW) upgraded to Outperform from Market Perform at Wells Fargo... Flextronics (FLEX) upgraded to Neutral from Underperform at BofA/Merrill... Fortune Brands Home & Security (FBHS) upgraded to Outperform at RBC Capital... Genworth (GNW) upgraded to Neutral from Underperform at BofA/Merrill... Masco (MAS) upgraded to Sector Perform from Underperform at RBC Capital... STMicroelectronics (STM) upgraded to Buy from Neutral at Goldman... STMicroelectronics upgraded to Neutral from Sell at Citigroup... TripAdvisor (TRIP) upgraded to Buy from Neutral at BofA/Merrill... Wolverine World Wide (WWW) upgraded to Buy from Hold at Jefferies.
News For ACI;CKEC;BOOM;EW;FLEX;FBHS;GNW;MAS;STM;TRIP;WWW From The Last 14 Days
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April 14, 2014
08:59 EDTEWOn The Fly: Pre-market Movers
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08:12 EDTEWEdwards Lifesciences price target raised to $90-$91 from $82-$83 at Wells Fargo
Wells Fargo increased its price target on Edwards after a federal court granted a preliminary injunction limiting the sale of a competing product, Medtronic's (MDT) CoreValve. The firm said the injunction was a "major surprise," and estimates that the injunction could increase Edwards EPS by 15c in 2014 and 34c in 2015. Wells keeps an Outperform rating on the stock.
07:39 EDTEWEdwards Lifesciences upgraded to Buy from Fair Value at CRT Capital
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06:22 EDTEWMedtronic downgraded to Neutral from Overweight at JPMorgan
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06:21 EDTEWEdwards Lifesciences upgraded to Neutral from Underweight at JPMorgan
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06:11 EDTTRIPTripAdvisor recent pullback a buying opportunity, says Piper Jaffray
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05:30 EDTSTMSTMicroelectronics downgraded to Sell from Neutral at UBS
UBS downgraded STMicroelectronics to Sell citing valuation.
April 13, 2014
15:10 EDTEWMedtronic says CoreValve ruling has no impact outside U.S.
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April 12, 2014
19:50 EDTEWEdwards says court limits sale of Medtronic CoreValve system in U.S.
Edwards Lifesciences (EW) announced that the U.S. District Court for the District of Delaware granted a preliminary injunction limiting the sale of Medtronic's (MDT) CoreValve system in the United States. The court ordered the injunction to go into effect in seven business days. The hearing related to a federal jury decision in 2010 that CoreValve willfully infringes Edwards' U.S. Andersen transcatheter aortic valve replacement patent. At the conclusion of the hearing, Chief Judge Gregory Sleet ordered Edwards and Medtronic to confer on what instances the CoreValve device could continue to be used in the treatment of U.S. patients at centers currently trained on CoreValve. There is a large body of evidence demonstrating the safety and performance of the Edwards SAPIEN valves, and the company remains committed to ensuring patients have appropriate access to transcatheter therapy. This case was initiated by Edwards in 2008. On April 1, 2010, a federal jury found Medtronic willfully infringed Edwards' U.S. Andersen patent and awarded damages. In Nov. 2012, the U.S. Court of Appeals for the Federal Circuit affirmed the jury decision; in Oct. 2013, the U.S. Supreme Court declined to hear Medtronic's appeal. The patent involved in this suit is part of the Andersen family of patents. The U.S. Andersen patent was issued in 1995. A petition has been filed with the U.S. Patent and Trademark Office to extend this patent into early 2016. In a separate case, a federal jury in January found that Medtronic CoreValve had willfully infringed Edwards' U.S. Cribier transcatheter heart valve patent, and awarded damages to Edwards in that trial.
April 10, 2014
14:22 EDTTRIPTripAdvisor volatility increases on wide price movement
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April 9, 2014
16:23 EDTACIOn The Fly: Closing Wrap
Stocks on Wall Street were higher after the minutes of the latest FOMC meeting struck a particularly dovish note. The averages, which were higher for the second straight session ahead of the minutes release, climbed to their highs over the final two hours of trade. Each index posted gains of over 1%, with the tech-heavy Nasdaq again the biggest winner. ECONOMIC EVENTS: The minutes for the March 18-19 FOMC showed that some committee members were concerned that its future interest rate projections could be misconstrued by the market as advocating tighter monetary policies. The minutes also showed that committee members expect to continue tapering the Fed's asset purchases if the economy performs as expected going forward. Wholesale inventories rose 0.5% in February, matching economists' forecast. COMPANY NEWS: Several auto majors were in the news, notably General Motors (GM), which fell 91c, or 2.64%, to $33.62 as the National Highway Traffic Safety Administration yesterday announced that it fined the automaker for failing to respond to the administration's inquiry into its recall related to faulty ignition switches in a timely manner. Analysts at Morgan Stanley also downgraded the stock to Underweight from Equal Weight. U.S.-listed shares of Toyota Motor (TM) fell $1.37, or 1.26%, to $107.73 after the company announced the recall of over 6M vehicles worldwide. A report from Automotive News said that Volkswagen (VLKAY) issued a stop-sale order on some of it newer-model cars, but U.S.-listed shares of the German automaker, which were upgraded earlier in the session by Bernstein to Outperform, were unfazed and gained $2.91, or 5.72%, to $53.78... Two notable initial public offerings took place today, with hotel chain operator La Quinta (LQ) gaining 12c, or 0.71%, to $17.12 and Chinese medical exam and screening center operator iKang Healthcare (KANG) gaining $1.20, or 8.57%, to $15.20, in their first day of trade. MAJOR MOVERS: Among the notable gainers was marketing software and solutions provider Constant Contact (CTCT), up $6.30, or 28.74%, to $28.22 after the company's preliminary first quarter revenue exceeded analysts' projection. Also higher was social media giant Facebook (FB), up $4.22, or 7.25%, to $62.41 after analysts at Susquehanna and SunTrust published positive commentary on the company. Among the noteworthy losers was Intuitive Surgical (ISRG), down $33.20, or 6.78%, to $456.64 after last night saying it expects first quarter revenue to come in well below expectations, though the stock was defended by no fewer than three analyst firms following the announcement. Also lower were a number of coal producers, including Alpha Natural Resources (ANR) and Walter Energy (WLT), which each lost more than 6%, and Arch Coal (ACI), which fell over 3%, after all three stocks were downgraded to Sell at UBS. INDEXES: The Dow was up 181.04, or 1.11%, to 16,437.18, the Nasdaq was up 70.91, or 1.72%, to 4,183.90, and the S&P 500 was up 20.22, or 1.09%, to 1,872.18.
12:18 EDTACIOn The Fly: Midday Wrap
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10:06 EDTACIOn The Fly: Analyst Downgrade Summary
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09:11 EDTACIOn The Fly: Pre-market Movers
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09:00 EDTACIArch Coal falls 3.5%
Arch Coal is down 3.5%, or 18c, to $5.00
07:14 EDTFBHSFortune Brands upgraded to Outperform from Neutral at Credit Suisse
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06:40 EDTACIArch Coal downgraded to Sell from Neutral at UBS
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06:20 EDTTRIPGoogle adds more photos, reviews to hotel business, WSJ says
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06:00 EDTFBHSFortune Brands upgraded to Outperform from Neutral at Credit Suisse
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April 8, 2014
07:26 EDTEWElsevier Business Intelligence to hold a conference
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