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Stock Market & Financial Investment News

News Breaks
March 18, 2013
10:06 EDTCMA, PKG, PGR, SJM, BKH, ADTN, CFR, PNFP, JBT, NVO, KMB, CCL, ACT, CHK, IP, TEVA, NTI, CNP, ABC, MUOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Actavis (ACT) downgraded to Market Perform from Outperform at Wells Fargo... Adtran (ADTN) downgraded to Neutral from Buy at Mizuho... AmerisourceBergen (ABC) downgraded to Neutral from Buy at UBS... Black Hill (BKH) downgraded to Sector Perform from Outperform at RBC Capital... Carnival (CCL) downgraded to Neutral from Outperform at Exane BNP Paribas... CenterPoint Energy (CNP) downgraded to Underperform from Neutral at Credit Suisse... J.M. Smucker (SJM) downgraded to Sell from Neutral at Goldman... Kimberly Clark (KMB) downgraded to Sell from Neutral at Goldman... Northern Tier (NTI) downgraded to Hold from Buy at Dahlman Rose... Novo Nordisk (NVO) downgraded to Underweight from Neutral at JPMorgan... Progressive (PGR) downgraded to Underweight from Equal Weight at Evercore... Teva (TEVA) downgraded to Market Perform from Outperform at Wells Fargo... JBT Corporation (JBT) downgraded to Neutral from Buy at Sidoti... Packaging Corp. (PKG) downgraded to Underperform from Outperform at CLSA... International Paper (IP) downgraded to Outperform from Buy at CLSA... Pinnacle Financial (PNFP) downgraded to Market Perform from Outperform at Raymond James... Comerica (CMA) downgraded to Underperform from Market Perform at Raymond James... Cullen/Frost (CFR) downgraded to Underperform from Market Perform at Raymond James... Chesapeake (CHK) downgraded to Trim from Hold at Tudor Pickering... Micron (MU) downgraded to Negative from Neutral at Susquehanna.
News For ACT;ADTN;ABC;CCL;BKH;CNP;KMB;SJM;NTI;NVO;PGR;TEVA;JBT;PKG;IP;PNFP;CMA;CHK;CFR;MU From The Last 14 Days
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January 21, 2015
08:38 EDTTEVAMomenta announces Supreme Court decision to remand generic Copaxone back to CAFC
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07:22 EDTACTActavis price target raised to $330 from $280 at Deutsche Bank
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06:42 EDTCHKTotal to cut spending on North Sea, U.S. shale projects, Reuters says
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06:04 EDTSJMJ.M. Smucker upgraded to Overweight from Neutral at JPMorgan
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06:02 EDTSJMHershey downgraded to Neutral from Overweight at JPMorgan
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05:02 EDTADTNADTRAN reports Q4 EPS 19c, consensus 10c
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January 20, 2015
17:35 EDTPNFPPinnacle Financial increases dividend 4c to 12c
Pinnacle’s Board of Directors declared a 12c per share cash dividend to be paid on Feb. 27 to common shareholders of record as of the close of business on Feb. 6. The amount and timing of any future dividend payments to common shareholders will be subject to the discretion of Pinnacle’s Board of Directors. “We are pleased to provide a 4c increase in our common dividend to shareholders this quarter,” Turner said. “Despite our double-digit loan growth, since the date we initiated our common dividend we’ve continued to experience net increases in our capital ratios. This increase in our dividend should also bring us back to our target range of a 20% payout ratio over time without disrupting our prospective growth plans.”
17:34 EDTPNFPPinnacle Financial reports Q4 EPS 53c, consensus 53c
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15:21 EDTADTNNotable companies reporting before tomorrow's open
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15:21 EDTPNFPNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include IBM (IBM), consensus $5.41; Netflix (NFLX), consensus 45c; CA Technologies (CA), consensus 60c; Cree (CREE), consensus 22c; Woodward (WWD), consensus 46c; Fulton Financial (FULT), consensus 21c; Advanced Micro Devices (AMD), consensus 1c; Interactive Brokers (IBKR), consensus 6c; Pinnacle Financial (PNFP), consensus 53c.
14:37 EDTTEVATeva generic competition to Copaxone pushed out by ruling, says BMO Capital
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12:56 EDTTEVAMylan says continues to believe '808 patent is 'invalid'
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11:29 EDTTEVATeva says Supreme Court reverses circuit court judgment on Copaxone 20 mg/mL
Teva Pharmaceutical announced the U.S. Supreme Court’s decision in Teva Pharmaceuticals USA, Inc. et al. Petitioners v. Sandoz Inc. et al. that reversed the Federal Circuit Court’s judgment of invalidity of Teva’s ‘808 patent for COPAXONE 20 mg/mL. The Supreme Court remanded the case to the Federal Circuit for further review in light of the applicable standard the Supreme Court laid out for appellate review of claim construction. A ruling last year by the U.S. Court of Appeals for the Federal Circuit upheld four Teva patents that expired in May 2014, while invalidating the ‘808 patent that is set to expire on September 1, 2015. “We are encouraged by the U.S. Supreme Court’s Decision and look forward to the Federal Circuit’s review. We will continue to explore all available avenues to protect our intellectual property for COPAXONE 20mg/mL,” said Erez Vigodman, President and CEO of Teva. “There is currently no FDA-approved follow-on version of Teva’s COPAXONE. We are encouraged by the FDA’s willingness to date to have dialogue regarding the complexities of COPAXONE 20 mg/mL and the potential limitations and other unknowns of purported follow-on versions,” added Rob Koremans, MD, President and CEO of Global Specialty Medicines at Teva.
10:45 EDTTEVATeva spikes, retraces, after win in Copaxone patent case
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10:40 EDTTEVAMomenta Pharma sinks after Supreme Court rules on Copaxone
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10:35 EDTTEVATeva rises after patent ruling upheld by Supreme Court
The Supreme Court upheld a lower court ruling related to generic versions of Teva's Copaxone drug. In the ruling, the court wrote that "When reviewing a district court’s resolution of subsidiary factual matters made in the course of its construction of a patent claim, the Federal Circuit must apply a “clear error,” not a de novo, standard of review." Teva shares are up 1.5% to $58.58 in early trading after the ruling. Reference Link
10:29 EDTCHKONGC speculated to potentially hold talks to buy Chesapeake, EnergyPlugged says
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08:25 EDTMUMicron upgraded to Positive at Susquehanna
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06:47 EDTMUMicron upgraded to Positive from Neutral at Susquehanna
05:34 EDTACTActavis reports positive Phase III results for cariprazine
Gedeon Richter and Actavis announced positive results from a Phase III trial evaluating the efficacy and safety of cariprazine in the prevention of relapse in patients with schizophrenia. There were 101 patients randomized to cariprazine 3 to 9 mg per day and 99 randomized to placebo. The primary efficacy measure was time to first relapse during the double-blind period. There were 25 relapses in the cariprazine group versus 47 relapses in the placebo group. Treatment with cariprazine was associated with a 55% reduction in risk of relapse versus placebo.
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