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December 16, 2012
21:40 EDTVRSK, LMCA, DISCA, SBAC, LBTYA, CTRX, WDC, REGN, EQIX, ADIStocks being added to the NASDAQ-100 Index in annual re-ranking
The NASDAQ OMX Group announced the results of the annual re-ranking of the NASDAQ-100 Index, which will become effective prior to market open on Monday, December 24. The following ten securities will be added to the Index: Analog Devices, Inc. (ADI), Catamaran Corporation (CTRX), Discovery Communications (DISCA), Equinix, (EQIX), Liberty Global (LBTYA), Liberty Media Corporation (LMCA), Regeneron Pharmaceuticals (REGN), SBA Communications Corporation (SBAC), Verisk Analytics(VRSK) and Western Digital Corporation (WDC).
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September 30, 2015
10:00 EDTADIOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Analog Devices (ADI) upgraded to Buy from Neutral at Citi... Asbury Automotive (ABG) upgraded to Neutral from Underperform at BofA/Merrill... Brookfield (BAM) upgraded to Outperform from Market Perform at BMO Capital... CNOOC (CEO) upgraded to Buy from Hold at Jefferies... Canadian Pacific (CP) upgraded to Buy from Neutral at Goldman... Citizens Financial (CFG) upgraded to Buy from Neutral at UBS... Esperion (ESPR) upgraded to Neutral from Sell at Chardan... HSBC (HSBC) upgraded to Buy from Neutral at UBS... Hecla Mining (HL) upgraded to Outperformer from Sector Performer at CIBC... Johnson Controls (JCI) upgraded to Outperform from Market Perform at William Blair... Level 3 (LVLT) upgraded to Buy from Neutral at UBS... Madison Square Garden (MSG) upgraded on asset value, share buyback outlook at Stifel... Medivation (MDVN) upgraded to Market Perform from Underperform at Cowen... PHH Corp. (PHH) upgraded to Buy from Neutral at Compass Point... Post Holdings (POST) upgraded to Buy from Neutral at SunTrust... Ralph Lauren (RL) upgraded to Buy from Neutral at UBS... Regions Financial (RF) upgraded to Buy from Hold at Sandler O'Neill... Shire (SHPG) upgraded to Hold from Reduce at HSBC... Sinopec (SNP) upgraded to Buy from Hold at Jefferies... Verifone (PAY) upgraded to Buy from Hold at Argus.
09:13 EDTWDCOn The Fly: Pre-market Movers
HIGHER: Mediwound (MDWD), up 25.5% after being awarded a BARDA contract valued up to $112M... Novavax (NVAX), up 8.4% after RSV F vaccine meets safety endpoints in its Phase 1 clinical trial... Western Digital (WDC), up 11.7% after receiving a $3.78B equity investment by Unisplendour Corporation... Esperion Therapeutics (ESPR), up 9.9% after being upgraded to Neutral from Sell at Chardan and after JPMorgan said they still see longer-term upside in the shares... Pericom Semiconductor (PSEM), up 6.5% after Montage Technology proposes to acquire the company for $18.50 per share... Fiat Chrysler (FCAU), up 5.2% after CNBC reported that the company could launch Ferrari's IPO as soon as Friday. NOTABLE: Ralph Lauren (RL), up 6.4% after appointing Gap's (GPS) global president of Old Navy, Stefan Larsson as CEO... Gap is down 7.4%. DOWN AFTER EARNINGS: Barracuda Networks (CUDA), down 28.5%... Costco (COST), down a half a percent.
08:57 EDTWDCWestern Digital receives $3.78B equity intestment by Unisplendour Corporation
Western Digital and Unisplendour Corporation have entered into an agreement under which a subsidiary of Unis will make a $3.78B equity investment in Western Digital. Under the terms of the investment, Unis has agreed to purchase newly issued Western Digital common stock at a price of $92.50 per share. Immediately following the closing of the investment, Unis will hold approximately 15% of Western Digital's issued and outstanding shares of common stock. Unis will have the right to nominate one representative to the Western Digital board of directors and will be subject to a five-year position standstill and voting restrictions. In addition, Unis has agreed to a five-year lock-up on its shares, with a limited number of shares becoming available for transfer each year. Proceeds from the investment will go toward strengthening Western Digital's balance sheet.
07:47 EDTWDCWestern Digital volatility flat into receives $3.7B equity investment
Western Digital October weekly call option implied volatility is at 39, October is at 41, November is at 43; compared to its 52-week range off 21 to 46, suggesting non-directional price movement after receives $3.7B equity investment by Unisplendour Corporation.
07:30 EDTDISCADiscovery long-term guidance missed Street expectations, says UBS
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06:01 EDTADIAnalog Devices upgraded to Buy from Neutral at Citi
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September 29, 2015
15:19 EDTDISCADiscovery drops as investor day fails to dispell cord-cutting fears
Shares of Discovery Communications (DISCA) have dropped today as the company held its first-ever investor day amid ongoing concerns about the potential decline of pay TV. NEW GUIDANCE: Discovery Chief Financial Officer Andrew Warren updated the company's full year 2015 outlook, saying he expects constant currency adjusted earnings per share to grow in the low double digits. The company expects revenue for the year to grow 9%-10%, with free cash flow up in low single digits. Meanwhile, year over year currency headwinds were seen deducting $460M from revenue and 24c-29c from adjusted EPS. Discovery also established long-term guidance, saying it sees its adjusted EPS compound annual growth rate up in low double digits from 2015 to 2018, on a constant currency basis. "Third quarter results are on track, highlighted by strong U.S. advertising growth," Warren added. THREE BILLION SUBSCRIBERS: CEO David Zaslav commented during the investor day that the company is "confident in the long-term outlook for our business," adding that Discovery expects to reach 3B cumulative worldwide subscribers by year's end. The Chief Executive highlighted what he called five differentiators for Discovery's growth potential, including its ownership of a growing and diverse portfolio of content and IP "that uniquely positions Discovery for the changing media landscape." CORD CUTTING: Multiple Discovery executives showcased the company's European products, including Eurosport and the Eurosport Player OTT service, as well as the company's apparent first-mover advantage in Latin America. The seemingly increased attention on foreign initiatives comes as U.S. cord-cutting trends continue generating headlines, with Citi analyst Jason Bazinet arguing as recently as September 18 that Disney (DIS) would be the only cable network to make more money in a bundle-free world. According to media reports of today's Discovery event, Chief Executive Zaslav said "it's not rational" that media companies are selling so much of their content to streaming services like Netflix (NFLX) that threaten the appeal of cable bundles. The CEO added that Discovery has assumed a 1%-2% decline in pay TV over "the next couple of years," though he reassured investor day attendees that the company's adjusted operating income should be roughly flat even in a worst-case scenario. PRICE ACTION: Shares of Discovery crashed as much as 7% in early morning trading before seeing hesitant moves higher. The stock is down just under 4% to roughly $26.70 heading towards session close.
10:00 EDTWDCOn The Fly: Analyst Initiation Summary
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09:19 EDTDISCADiscovery CEO: Low double-digit revenue growth in next 3 years, Variety says
Discovery Communications CEO David Zaslav pledged that the company will deliver low double-digit revenue and earnings growth over the next three years, Variety reports. Zaslav gave the forecast at the company's inaugural investor day presentation in Manhattan, the report says. Reference Link
06:47 EDTDISCADiscovery to host Inaugural Investor Day
Inaugural Investor Day to be held in New York on September 29 at 8:15 am Webcast Link
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