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News Breaks
June 17, 2014
18:27 EDTADBE, MCRS, FLXN, SUNE, LZB, ECYT, GWPH, ZBRAOn The Fly: After Hours Movers
UP AFTER EARNINGS: Adobe (ADBE), up 9% after reporting better than expected quarterly results. ALSO HIGHER: MICROS Systems (MCRS), up 1.8%... Flexion Therapeutics (FLXN), up 1.32% after announcing positive topline results from its Phase 2a pharmacokinetic trial... Sunedison (SUNE), up 1.35%. DOWN AFTER EARNINGS: La-Z-Boy (LZB), down 10.23% after reporting fourth quarter revenue below expectations. ALSO LOWER: Endocyte (ECYT), down 18.13% after announcing that Merck (MRK) will no longer pursue development of vintafolide... GW Pharmaceuticals (GWPH), down 5.25%... Zebra Technologies (ZBRA), down 4.6%.
News For ADBE;MCRS;FLXN;SUNE;LZB;ECYT;GWPH;ZBRA From The Last 14 Days
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September 22, 2014
11:02 EDTADBEOptions with decreasing implied volatility
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07:51 EDTGWPHGW Pharmaceuticals could trade up 25% on data, says Leerink
Leerink believes shares of GW Pharmaceuticals could trade up 25% should the Epidiolex data in pediatric epilepsy show a seizure reduction materially greater than 44%. The data is expected in the second half of 2014. The firm says shares could trade up 15% higher on a reduction at or close to 40%, or 15% lower if the mean reduction is in the 20%-30% range. Leerink is bullish ahead of the data readout after reviewing the cannabidiol epilepsy literature and previous anti-epileptic drug trials. It has an Outperform rating on shares of GW Pharmaceuticals with a $110 price target.
07:33 EDTSUNESunEdison to install 241 kW of solar PV micro-grids in Indian villages
SunEdison announced a new project that will install 241 kilowatts of solar PV micro-grids with battery storage in 54 remote Indian villages, bringing electricity access to 7,800 off-grid individuals. Under the Indian government's decentralized distribution generation scheme administered by the Rural Electrification Corporation and Andhra Pradesh Eastern Power Distribution Company Limited, SunEdison will build, operate and then transfer the facilities to the public within five years. SunEdison also announced a new grant to enable 200 salt farmers in the Little Runn of Kutch area of India to purchase solar water pumps. The solar water pumps will be used by the families to pump brine and ultimately to produce salt. SunEdison will begin construction of the mini-grids in October and plans to commission them by March 2015. Capacity building and installation of the solar water pmps will begin in November of this year.
September 19, 2014
10:28 EDTADBEOptions with decreasing implied volatility
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07:32 EDTSUNESunEdison completes 1.8MW solar electric solar power plant in New Bedford
SunEdison announced the completion of a 1.8 megawatt DC solar power plant constructed on a remediated EPA Superfund site in New Bedford, Massachusetts. The system was developed on approximately 10 acres of land on the remediated Sullivan's Ledge landfill site and represents another significant step towards meeting the City of New Bedford's goal to satisfy 60% of their electricity needs from solar power. SunEdison partnered with BlueWave Capital to develop the project, arranged construction financing and permanent financing for the project, and managed local partners to provide EPC services. In addition to owning and hosting the site, the City of New Bedford signed a 20-year net credit purchasing agreement with SunEdison at rates that will significantly reduce its electricity costs. The savings generated from the Sullivan's Ledge system are estimated to total over $76,000 annually and $1.8 million dollars over the term of the agreement.
September 18, 2014
10:27 EDTADBEOptions with decreasing implied volatility
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09:07 EDTFLXNFlexion trial likely to be allowed to continue, says Summer Street
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06:19 EDTFLXNFlexion to host conference call
Conference call to discuss clinical hold of FX006 phase 2b clinical trial in Osteoarthritis of the knee will be held on September 18 at 9 am. Webcast Link
September 17, 2014
18:29 EDTFLXNOn The Fly: After Hours Movers
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16:10 EDTFLXNFlexion drops 18% to $15.83 after FDA places clinical hold on study
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16:08 EDTFLXNFlexion announces clinical hold on Phase 2b trial enrollment
Flexion Therapeutics announced that the FDA informed the company yesterday that a clinical hold has been placed on patient enrollment and dosing in an ongoing Phase 2b clinical trial evaluating FX006 in patients with osteoarthritis of the knee. FX006 is a novel, non-opioid, sustained-release, intra-articular formulation of triamcinolone acetonide targeting moderate-to-severe OA pain. Flexion said it has not yet received written notice of its clinical hold from the FDA, but based on the verbal communication yesterday afternoon, the FDA indicated that the clinical hold is due to a single occurrence of an infection in the injected knee joint of a patient in the Phase 2b clinical trial.
13:10 EDTSUNEChinese solars advance after analysts upbeat on space
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12:01 EDTADBEAdobe falls after Q4 revenue outlook trails consensus
Shares of creative software maker Adobe Systems (ADBE) are falling after it guided to fourth quarter revenue below analysts' consensus view. WHAT'S NEW: Last night, Adobe reported Q3 adjusted earnings per share of 28c and revenue of $1.005B, compared to analysts' consensus estimates of 26c and 1.02B, respectively. Adobe exited Q3 with 2.81M creative cloud subscriptions, a sequential increase of 502,000. WHAT'S NOTABLE: Adobe forecast Q4 adjusted EPS of 26c-32c, versus consensus of 31c. The company sees Q4 revenue of $1.025B-$1.075B, below the consensus forecast of $1.09B. The company expects net new creative cloud subscriptions to grow sequentially in Q4 to slightly exceed its target of 1M. ANALYST REACTION: This morning, analyst commentary was positive, with several firms recommending buying shares of Adobe on any weakness. Research firm Stern Agee was among them, stating that Adobe's revenue miss was driven by a shift of perpetual licenses to term contracts. Sterne Agee said that Adobe's deferred revenue outperformed, which should give long-term investors confidence in the name. It believes the long-term transition story is intact, and expects upside to revenues in FY15. The firm kept a Buy rating on the shares with a price target of $85. Two other firms, JMP Securities and BofA Merrill Lynch also recommended buying Adobe amid its post-earnings weakness. PRICE ACTION: Near noon, Adobe fell $2.74, or nearly 4%, to $68. Despite today's pull-back, the shares have gained about 40% over the past 12 months. ANOTHER TO WATCH: Autodesk, (ADSK), which also serves software customers in the digital media and entertainment industries, is down fractionally to $54.54.
11:02 EDTADBEOptions with decreasing implied volatility
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09:15 EDTADBEAdobe shares should be bought on weakness, says Sterne Agee
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09:10 EDTADBEOn The Fly: Pre-market Movers
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08:32 EDTADBEAdobe should be bought on any weakness, says JMP Securities
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08:18 EDTSUNECanadian Solar price target raised to $45 from $40 at FBR Capital
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07:21 EDTADBEAdobe weakness a buying opportunity, says BofA/Merrill
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05:55 EDTADBEStocks with implied volatility top IV index mean; AMD ADBE
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