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Stock Market & Financial Investment News

News Breaks
June 23, 2014
10:02 EDTREN, MOV, ENBL, A, SFBS, RYAM, LDRH, EOX, TIF, PEGI, KW, DMND, 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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May 11, 2015
09:21 EDTACTOn The Fly: Pre-market Movers
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09:00 EDTACTActavis says committed to utilizing FCF to accelerate debt repayment
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08:57 EDTACTActavis says 'doing exceptionally well' on cost synergy capture
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08:52 EDTACTActavis sets 'aspirational' FY17 EPS target of $25
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08:48 EDTACTActavis sees sNDA submission for low dosage Linzess in 2016
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07:20 EDTPEGIDeutsche Bank to hold a conference
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06:40 EDTACTActavis sees Eluxadoline, Cariprazine PDUFAs in Q2
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06:37 EDTACTActavis sees 2015 EPS $17.00-$18.50, consensus $17.70
Sees 2015 pro forma revenue $22M-$22.5B, consensus $21.47B. Sees 2015 total net revenue $20.5B-$21B.
06:35 EDTACTActavis reports Q1 EPS $4.30, consensus $3.94
Reports Q1 revenue $4.23B., consensus $4.03B. Reports adjusted EBITDA of $1.78B compared to $860M last year. Results include the contribution from Allergan businesses for the period following the close on March 17.
May 10, 2015
19:25 EDTACTCourt rejects claim that drugmakers misled opiate patients, Bloomberg says
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May 8, 2015
13:11 EDTACTEarnings Watch: Actavis to report quarterly results after Allergan acquisition
Actavis (ACT) is scheduled to report first quarter earnings before the market open on Monday, May 11 with a conference call scheduled for 8:00 am ET. Actavis, a specialty pharmaceutical company, develops, manufactures, markets, and distributes generic, branded generic, branded, biosimilar, and over-the-counter pharmaceutical products. EXPECTATIONS: Analysts are looking for earnings per share of $3.94 on revenue of $4.04B, according to First Call. The consensus range for EPS is $3.81-$4.06 on revenue of $3.79B-$4.22B. LAST QUARTER: Actavis reported fourth quarter EPS of $3.91, compared to consensus estimates of $3.67, on revenue of $4.01B against estimates of $3.84B. Actavis CEO Brent Saunders commented on the quarter: "In our North American Brands business, six of our top ten brand products saw double-digit growth, including our strongest performers Namenda franchise, Linzess, Estrace Cream, Teflaro and Bystolic. In our North American Generics business, strong results were driven by continued performance of our generic versions of Lidoderm and Concerta, and fourth quarter launches of generic versions of Intuniv and Celebrex. We continue to invest in expanding our brand and generic portfolios, with nine new product and line extension launches planned in 2015, and industry-leading expansion of our generic pipeline, with 44 Abbreviated New Drug Applications submitted in 2014." NEWS: On March 17, Actavis announced that it had completed the acquisition of Allergan (AGN) in a cash and equity transaction valued at approximately $70.5B. The combination creates one of the world’s top 10 pharmaceutical companies by sales revenue, with combined annual pro forma revenues of more than $23B anticipated in 2015. STREET RESEARCH: On April 8, Leerink analyst Jason Gerberry raised his price target for Actavis shares by $20 to $348 to account for the closing of the Allergan acquisition. Gerberry said he thinks the deal will result in higher overall company gross margins in 2015. He raised his revenue and earnings estimates for Actavis ahead of the company's Q1 results and reiterated an Outperform rating on the stock. PRICE ACTION: Actavis shares are up almost 3% since the company's last earnings report on February 18, and are trading up 2.4% in midday trading ahead of Monday's earnings release.
10:01 EDTACTOn The Fly: Analyst Initiation Summary
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10:01 EDTPEGI, ENBLOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Aerie Pharmaceuticals (AERI) upgraded to Buy from Hold at Cantor... Alcatel-Lucent (ALU) upgraded to Buy from Hold at Societe Generale... Alibaba (BABA) upgraded to Buy from Neutral at Goldman... CME Group (CME) upgraded to Buy from Hold at Evercore ISI... Choice Hotels (CHH) upgraded to Buy from Underperform at BofA/Merrill... Coach (COH) upgraded to Buy from Hold at HSBC... Commerzbank (CRZBY) upgraded to Buy from Hold at Deutsche Bank... Consolidated Communications (CNSL) upgraded to Buy from Hold at Drexel Hamilton... Cutera (CUTR) upgraded to Overweight from Neutral at Piper Jaffray... EarthLink (ELNK) upgraded to Hold from Underperform at Jefferies... Enable Midstream (ENBL) upgraded to Outperform from Neutral at Credit Suisse... Ericsson (ERIC) upgraded to Buy from Neutral at UBS... Essex Property Trust (ESS) upgraded to Outperform from Neutral at Baird... Forest City (FCE.A) upgraded to Buy from Neutral at Citigroup... General Growth (GGP) upgraded on operational, growth outlook at RBC Capital... Globe Specialty Metals (GSM) upgraded to Overweight from Neutral at JPMorgan... HNI Corporation (HNI) upgraded to Outperform from Market Perform at Raymond James... Invesco Mortgage (IVR) upgraded to Outperform from Market Perform at Keefe Bruyette... Lennar (LEN) upgraded to Overweight from Equal Weight at Barclays... Marathon Oil (MRO) upgraded to Outperform from Market Perform at Wells Fargo... Mercer (MERC) upgraded to Outperform from Neutral at Macquarie... Nokia (NOK) upgraded to Buy from Neutral at UBS... Nuance (NUAN) upgraded to Buy from Hold at Craig-Hallum... Pattern Energy (PEGI) upgraded to Buy from Hold at Desjardins... PennantPark (PNNT) upgraded to Outperform from Market Perform at FBR Capital... Philip Morris (PM) upgraded to Neutral from Sell at Goldman... Rayonier (RYN) upgraded to Buy from Neutral at DA Davidson... Rosetta Resources (ROSE) upgraded to Hold from Reduce at KLR Group... Telekom Indonesia (TLK) upgraded to Buy from Neutral at Citigroup... Wisconsin Energy (WEC) upgraded to Hold from Sell at Evercore ISI.
08:47 EDTACTLeerink's specialty pharma/generics analyst has analyst/industry conference call
Specialty Pharmaceuticals/Generics Analyst Gerberry discuss the future of dry eye treatment and the data and outlook for pipeline agents Shire's Lifitegrast and Eleven Biotherapeutics' EBI-005 and expectations for Actavis' Restasis use, assuming future approval of one or more pipeline agents, on an Analyst/Industry conference call to be held on May 12 at 10:30 am.
08:27 EDTPEGIPattern Energy upgraded to Buy from Hold at Desjardins
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07:41 EDTNILEBlue Nile sees FY15 EPS 83c-93c, consensus 87c
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07:40 EDTNILEBlue Nile sees Q2 EPS 18c-21c, consensus 18c
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07:38 EDTNILEBlue Nile reports Q1 EPS 10c, consensus 8c
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06:58 EDTENBLEnable Midstream upgraded to Outperform from Neutral at Credit Suisse
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06:13 EDTACTActavis initiated with a Buy at Mizuho
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