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Stock Market & Financial Investment News

News Breaks
April 17, 2014
09:59 EDTTQNT, TRXC, WBMD, SWKS, SNDK, NCLH, JAZZ, FMI, ADHD, RFMD, MHR, HAFC, CVA, ACOR, PCL, KRO, GBDC, BNFT, ACRXOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AcelRx (ACRX) initiated with a Buy at Canaccord... Acorda Therapeutics (ACOR) initiated with a Hold at Canaccord... Alcobra (ADHD) initiated with a Buy at Canaccord... Benefitfocus (BNFT) initiated with a Market Perform at William Blair... Cameron (CAM) initiated with a Buy at Gabelli... Covanta (CVA) initiated with an Outperform at Macquarie... Foundation Medicine (FMI) initiated with a Market Perform at William Blair... Golub Capital (GBDC) initiated with an Outperform at Raymond James... Hanmi Financial (HAFC) initiated with an Outperform at Raymond James... Jazz Pharmaceuticals (JAZZ) initiated with a Buy at Canaccord... Kronos Worldwide (KRO) initiated with a Reduce at SunTrust... Magnum Hunter (MHR) initiated with a Hold at Maxim... Norwegian Cruise Line (NCLH) initiated with a Buy at Longbow... Plum Creek Timber (PCL) initiated with an Outperform at RBC Capital... RF Micro Devices (RFMD) initiated with a Market Perform at BMO Capital... SanDisk (SNDK) assumed with an Overweight at Piper Jaffray... Skyworks (SWKS) initiated with a Market Perform at BMO Capital... TransEnterix (TRXC) initiated with a Buy at Sterne Agee... TriQuint (TQNT) initiated with a Market Perform at BMO Capital... WebMD (WBMD) initiated with an Outperform at William Blair.
News For ACRX;ACOR;ADHD;BNFT;CVA;FMI;GBDC;HAFC;JAZZ;KRO;MHR;NCLH;PCL;RFMD;SNDK;SWKS;TRXC;TQNT;WBMD From The Last 14 Days
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August 25, 2015
16:43 EDTACOROn The Fly: Top stock stories for Tuesday
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09:13 EDTACOROn The Fly: Pre-market Movers
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09:03 EDTACORAcorda has major overhang removed by IPR denials, says Leerink
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06:59 EDTHAFCHanmi Financial upgraded to Strong Buy from Outperform at Raymond James
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August 24, 2015
18:55 EDTJAZZ, ACOROn The Fly: After Hours Movers
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18:52 EDTJAZZ, ACORJazz, Celgene, Shire up after USPTO rejects Acorda patent challenge
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18:02 EDTSWKSS&P 500 enters correction territory amid global growth concerns
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17:45 EDTACORAcorda Therapeutics up 31.2% after PTAB denies both IPRs of Ampyra patents
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17:44 EDTACORAcorda Therapeutics announces PTAB denies both IPRs of Ampyra patents
Acorda Therapeutics announced that the United States Patent and Trademark Office, or USPTO, Patent Trials and Appeal Board. or PTAB, will not institute the inter partes review, or IPR, of U.S. Patent Nos. 8,663,685 and 8,007,826. The '685 and '826 patents are two of five Orange Book-listed patents that apply to Ampyra Extended Release Tablets, 10 mg, a novel treatment for multiple sclerosis developed by Acorda. Ampyra is a standard of care for improving walking in MS. The '685 and '826 patents are set to expire in 2025 and 2027, respectively.
12:20 EDTMHREnergy Transfer Equity bids for Magnum Hunter Eureka stake, Bloomberg says
Energy Transfer Equity (ETE) is making a bid to acquire Magnum Hunter Resources' (MHR) stake in the Eureka Hunter Pipeline, Bloomberg reports, citing people with knowledge of the matter. The approximately 46% stake may be worth as much as $600M, the report says. Reference Link
12:02 EDTMHREnergy Transfer Equity bids for Magnum Hunter Eureka stake, Bloomberg says
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11:41 EDTGBDCGolub Capital upgraded to Outperform from Market Perform at Wells Fargo
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August 23, 2015
14:06 EDTNCLHCruise industry headed for jump in profits, Barron's says
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August 19, 2015
05:50 EDTSWKSStocks with implied volatility movement; SWKS CNX
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August 18, 2015
10:00 EDTBNFTOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Abercrombie & Fitch (ANF) initiated with an Underperform at Wolfe Research... Abiomed (ABMD) initiated with a Buy at CRT Capital... Aeropostale (ARO) initiated with a Peer Perform at Wolfe Research... American Eagle (AEO) initiated with an Outperform, Top Pick at Wolfe Research... American Electric (AEP) initiated with a Buy at Mizuho... Benefitfocus (BNFT) initiated with an Overweight at First Analysis... Blue Buffalo Pet Products (BUFF) initiated with an Equal Weight at Morgan Stanley... Capitala Finance (CPTA) initiated with an Equal Weight at Stephens... Chico's (CHS) initiated with a Peer Perform at Wolfe Research... Children's Place (PLCE) initiated with an Outperform at Wolfe Research... Chimerix (CMRX) initiated with an Outperform at FBR Capital... Ciena (CIEN) initiated with a Market Perform at Northland... Crane (CR) initiated with an Outperform at William Blair... Entergy (ETR) initiated with a Neutral at Mizuho... Express (EXPR) initiated with an Outperform, Top Pick at Wolfe Research... Finisar (FNSR) initiated with a Market Perform at Northland... Francesca's (FRAN) initiated with a Peer Perform at Wolfe Research... Gap (GPS) initiated with an Underperform at Wolfe Research... Infinera (INFN) initiated with an Outperform at Northland... International Game (IGT) initiated with a Buy at Union Gaming... Juno Therapeutics (JUNO) initiated with an Outperform at FBR Capital... L Brands (LB) initiated with a Peer Perform at Wolfe Research... Luca Technologies (LUCA) initiated with an Outperform at Northland... Lumentum (LITE) initiated with an Outperform at Northland... M/A-COM (MTSI) reinstated with a Buy at Jefferies... MRV Communications (MRVC) initiated with an Outperform at Northland... Michael Kors (KORS) initiated with a Peer Perform at Wolfe Research... NN, Inc. (NNBR) initiated with a Buy at Stifel... NeoPhotonics (NPTN) initiated with an Outperform at Northland... Oclaro (OCLR) initiated with an Outperform at Northland... Scientific Games (SGMS) initiated with a Buy at Sterne Agee CRT... SolarCity (SCTY) initiated with a Neutral at UBS... Summit Materials (SUM) initiated with a Neutral at Citi... Tech Data (TECD) initiated with an Underperform at BofA/Merrill... Urban Outfitters (URBN) initiated with a Peer Perform at Wolfe Research... Zumiez (ZUMZ) initiated with an Underperform at Wolfe Research... lululemon (LULU) initiated with a Peer Perform at Wolfe Research.
10:00 EDTSNDKOn The Fly: Analyst Downgrade Summary
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09:23 EDTSNDKOn The Fly: Pre-market Movers
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07:27 EDTSNDKSanDisk downgraded to Underperform on industry capex increases at BofA/Merrill
BofA/Merrill downgraded SanDisk two notches to Underperform from Buy and lowered its price target to $40 from $75. The firm is more cautious on the memory chip sector given new developments of SK Group's "significantly higher capex budget" and Micron's unexpected FY16 capex hike. BofA/Merrill said excess capacity is now a concern and cut long-term earnings estimates for most memory chip stocks.
August 17, 2015
17:34 EDTBNFTBenefitfocus initiated with an Overweight at First Analysis
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11:11 EDTSNDKAnalysts split on Micron after analyst day
Analysts were divided on the outlook for flash memory product maker Micron (MU) following its analyst day. Wells Fargo upgraded the stock to Market Perform from Underperform and Piper Jaffray said that the stock was unlikely to drop much further. However, Bank of America/Merrill and Wedbush cut their rating on the shares to Neutral from Buy. UPGRADE: Wells Fargo upgraded Micron to Market Perform from Underperform. Following the stock's decline over the last few months, the shares "reflect a more realistic view" of the flash memory sector's outlook, the firm stated. Additionally, the sector's financial condition has improved in recent years, which should boost the sector's profits and margins over the longer term, Wells Fargo stated. However, the firm still believes that the company is facing several risks, including falling prices for DRAM, a widespread form of flash memory, and its rising capital spending. Although Micron is facing "challenging near-term conditions," including a weak PC market, the company outlined many positive aspects of its business, according to Piper Jaffray analyst Ruben Roy. The longer term trends for the flash memory sector remain positive, as consolidation, low supply growth and diversifying demand should increase the profits of suppliers, Roy believes. And although Micron said its capital spending would be above expectations, Roy expects these investments to help the company enhance its manufacturing process and efficiency, boosting its performance over the longer term. Micron may miss estimates in the short-term but its share price is unlikely to drop much further, and its performance should improve significantly next year, according to Roy. He kept an Overweight rating on the stock. BEARISH TAKE: The DRAM supply/demand dynamic probably won't improve and Micron's cost reductions probably won't outpace price declines until mid-2016, according to Wedbush analyst Betsy Van Hees. Although Van Hees believes that the company's spending will help it over the longer term, she forecast that the stock would "continue to struggle" until the DRAM supply/demand dynamic stabilizes. The analyst cut her price target on the name to $19 from $26. Micron's decision to raise its capital spending suggests that it is "overconfident" in its new chips, according to Bank of America/Merrill Lynch analyst Simon Dong-je Woo. The margins on the new chip "could easily" be negative, the analyst believes. Woo thinks that Micron's capital expenditures next year should be $3B-$4B versus the company's guidance of $5.3B-$5.8B. The analyst's target on the name fell to $19 from $28.40. PRICE ACTION: In late morning trading, Micron lost 0.2% to $17. Earlier the stock reached a new 52-week low of $16.12. The shares of another flash memory product maker, SanDisk (SNDK), were flat at $58.
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