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Stock Market & Financial Investment News

News Breaks
June 23, 2014
10:02 EDTMOV, ENBL, A, SFBS, RYAM, LDRH, EOX, TIF, PEGI, KW, DMND, REN, NILE, ACTOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Actavis (ACT) resumed with an Overweight at JPMorgan... Agilent (A) reinstated with a Neutral at Goldman... Blue Nile (NILE) initiated with a Market Perform at Barrington... Diamond Foods (DMND) initiated with an Outperform at Credit Suisse... Emerald Oil (EOX) initiated with a Buy at Brean Capital... Enable Midstream (ENBL) initiated with a Market Perform at Wells Fargo... Kennedy Wilson (KW) initiated with a Buy at Deutsche Bank... LDR Holding (LDRH) initiated with an Outperform at RBC Capital... Movado (MOV) initiated with an Outperform at Barrington... Pattern Energy (PEGI) initiated with a Buy at KeyBanc... Rayonier Advanced Materials (RYAM) initiated with an Outperform at RBC Capital... Resolute Energy (REN) initiated with a Neutral at Global Hunter... ServisFirst (SFBS) initiated with an Outperform at Raymond James... Tiffany (TIF) initiated with a Market Perform at Barrington.
News For ACT;NILE;A;DMND;EOX;ENBL;KW;LDRH;MOV;PEGI;RYAM;REN;TIF;SFBS From The Last 14 Days
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January 13, 2015
13:38 EDTACTActavis sees Q4 adjusted EPS beating consensus by 10%-15%
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10:20 EDTTIFTiffany test support of long-term uptrend, levels to watch
The stock was hammered yesterday after the company cut its FY14 EPS view to a range of $4.15 to $4.20. Today the downtrend continues with the shares last at $88.08. At that price the bottom of the bullish price channel that began in June 2012 is being tested. A breakdown below $88 would be long-term bearish for price. Next support below $88 is at $85.69. Resistance is at $89.01.
09:45 EDTTIFTiffany downgraded to Equal Weight from Overweight at Stephens
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08:05 EDTACTActavis launches US generic specialty injectable portfolio
Actavis announced the launch of a portfolio of generic specialty injectable medications to be marketed to hospitals across the United States. Actavis will immediately begin marketing approximately 20 injectable products across a number of therapeutic categories in the U.S. The company hopes to be a leader in Oncology, with nearly a dozen marketed products including generic versions of Gemzar, Taxotere, Campostar and Zometa. Actavis also has an industry leading specialty injectable pipeline, with approximately 20 new filings under review at the U.S. Food and Drug Administration, as well as more than 50 additional projects currently in development.
January 12, 2015
12:45 EDTACTActavis CEO says 'can't speculate on what Pfizer is going to do'
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12:10 EDTACTRBC Capital says Celgene's shares could rise to $200 'over time'
The long-term profit guidance that Celgene (CELG) released today suggests that the stock, currently trading around $115, could reach $200 "over time," RBC Capital wrote in a note to investors today. WHAT'S NEW: After Celgene estimated that its EPS would exceed $12.50, excluding certain items, by 2020, RBC Capital says that the guidance exceeded the firm's previous outlook. RBC added that Celgene's projection increases its confidence in the predictability of the drug maker's performance over the longer term. The firm recommended that investors own Celgene in 2015, noting that the company has the potential to settle its patent case with Actavis (ACT). A settlement would enable investors to focus on Celgene's visible long-term growth and the robust opportunity provided by its drugs in development, RBC stated. Historically, investors have not given Celgene credit for these strengths, the firm stated. PRICE ACTION: In early afternoon trading, Celgene rose 1.5% to $115.35.
11:41 EDTNILE, TIFTiffany plummets after cutting fiscal 2014 profit outlook
Shares of jewelry and accessories retailer Tiffany (TIF) are sinking after the company lowered its profit outlook for fiscal 2014. Additionally, the company reported holiday sales for the two-month period ended December 31 were 1% below prior year levels. WHAT'S NEW: Tiffany this morning reported sales results for the two-month holiday period ended December 31. For the period, the company reported worldwide net sales of $1.02B, 1% below the prior year. Worldwide net sales increased 3% and comparable sales were even with the prior year on a constant-exchange-rate basis, which excludes the effect of translating foreign-currency-denominated sales into U.S. dollars. WHAT'S NOTABLE: Tiffany cut its FY14 net earnings per share view to $4.15-$4.20 from $4.20-$4.30, trailing analysts' consensus estimates of $4.32. Tiffany President and Chief Executive Officer Federic Cumenal said that the company is planning "cautiously" for the coming year. Cumenal noted that the company anticipates "significant headwinds from the stronger U.S. dollar against all of our key currencies that, as we experienced in the holiday period, negatively affects both the translation of results and sales to tourists in the U.S." Cumenal said that these factors are expected to result in the company planning low-to-mid single-digit sales and earnings growth in 2015. Cumenal also commented that "Despite these and other global economic pressures that we anticipate in the short-term, we believe that, when they abate, Tiffany will resume higher earnings growth rates based on stronger sales growth and increasing operating margins." ANALYST REACTION: This morning, research firm Sterne Agee lowered its price target for Tiffany to $110 from $121 citing the company's "disappointing" holiday comps and "soft" initial 2015 guidance. However, he firm kept a Buy rating on the name, and said it is encouraged by the company's relative strength in Asia-Pacific and Europe. PRICE ACTION: In late morning trading, Tiffany fell $12.15, or about 11.7%, to $91.30 on more than three times its average daily trading volume. Despite today's pull back, the shares have gained approximately 1% over the past 12 months. OTHERS TO WATCH: Tiffany & Co peers include Signet Jewelers (SIG), down 0.6%, and Blue Nile (NILE), down 2.2%.
10:17 EDTTIFTiffany price target lowered to $110 from $121 at Sterne Agee
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10:15 EDTTIFOptions with decreasing implied volatility
Options with decreasing implied volatility: NBIX APOL NPSP BBBY INFY JCP MU TIF
09:37 EDTACTSupreme Court rejects Allergan appeal on generic Latisse, Bloomberg reports
09:30 EDTTIFOn The Fly: Pre-market Movers
HIGHER: Foundation Medicine (FMI) up 138.9% following transaction with Roche (RHHBY)... Celator Pharmaceuticals (CPXX), up 19.1% after announcing promising Phase 2 data for CPX-351... Second Sight (EYES), up 16.7% after Health Canada approves Argus II retinal prosthesis system... Aegerion (AEGR), up 7.8% after reporting preliminary fourth quarter results and guidance... Express (EXPR), up 4.5% after reporting preliminary fourth quarter results. NOTABLE: NPS Pharmaceuticals (NPSP), up 8.5% following acquisition by Shire (SHPG)... Shire is down 1.1% in pre-market trading. LOWER: Arrowhead (ARWR), down 20.9% after FDA clears company to begin modified study of ARC-520 in a preliminary call of a partial clinical hold... Tiffany (TIF), down 10.4% after lowering fiscal 2014 net EPS guidance... SanDisk (SNDK), down 10.1% after lowering fourth quarter outlook... Ascena Retail (ASNA), down 5.8% after lowering fiscal 2015 adjusted EPS view... Sarepta Therapeutics (SRPT), down 5.9% after reporting long-term outcomes from Phase IIb Eteplirsen study... Loral Space & Communications (LORL), down 3.6% following a NY Post article that reported that talks to sell itself to the Ontario Teachers’ Pension Plan have ended... Southwestern Energy (SWN), down 4.2% after filing to sell 20.3M shares of stock and 26M depository shares.
09:10 EDTADako, Cell Signaling Technology announce partnership
Dako, an Agilent Technologies company, and Cell Signaling Technology, or CST, a worldwide provider of antibodies, announced that they have entered into a strategic partnership to supply antibodies for use in Dako-branded companion diagnostics products. The financial details of the agreement were not disclosed.
09:04 EDTAAgilent's Dako unit, Cell Signaling Technology announce strategic partnership
Dako, an Agilent Technologies company and a worldwide provider of cancer diagnostics, and Cell Signaling Technology announced that they have entered into a strategic partnership to supply antibodies for use in Dako-branded companion diagnostics products. The financial details of the agreement were not disclosed.
08:34 EDTACTActavis expects Q4 non-GAAP EPS to exceed consensus by 10%-15%
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08:09 EDTACTActavis and Allergan announce early termination of HSR waiting period
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08:07 EDTACTActavis, Allergan announce early termination of Hart Scott Rodino waiting period
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07:47 EDTTIFTiffany volatility elevated into lower 2014 earnings outlook
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07:04 EDTTIFTiffany cuts FY14 net EPS view to $4.15-$4.20 from $4.20-$4.30
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07:03 EDTTIFTiffany reports holiday period worldwide net sales $1.02B
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06:11 EDTPEGISamsung, Pattern Energy complete wind energy project in Ontario
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