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November 6, 2012
10:02 EDTADT, SMRT, ROST, PSMI, MDLZ, KRFT, DVAX, FANG, CAMP, CRUS, WDAYOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: ADT Corp. (ADT) initiated with an Outperform at Oppenheimer... CalAmp (CAMP) initiated with a Buy at Canaccord... Cirrus Logic (CRUS) initiated with a Buy at Capstone... Diamondback Energy (FANG) initiated with a Buy at Sterne Agee... Dynavax (DVAX) initiated with an Outperform at JMP Securities.... Kraft Foods (KRFT) initiated with a Buy at Canaccord... Mondelez (MDLZ) initiated with a Sell at Canaccord... Palo Alto (PANW) initiated with a Market Perform at FBR Capital... Peregrine (PSMI) initiated with a Buy at Canaccord... Ross Stores (ROST) initiated with a Neutral at Credit Suisse... Stein Mart (SMRT) initiated with an Outperform at Credit Suisse... Workday (WDAY) initiated with a Neutral at Goldman.
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July 23, 2014
16:01 EDTCRUSCirrus Logic reports Q1 adjusted EPS 37c, consensus 30c
Reports Q1 revenue $152.6M, consensus $148.03M. Reports Q1 gross margin of 49%.
10:02 EDTFANGOn The Fly: Analyst Upgrade Summary
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08:54 EDTFANGDiamondback Energy price target raised to $121 from $108 at Canaccord
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07:23 EDTFANGDiamondback Energy upgraded to Buy from Accumulate at KLR Group
KLR Group upgraded Diamondback Energy to Buy citing the company's acreage acquisition and accelerating drilling activity. The firm raised its price target for shares to $118 from $103.
July 22, 2014
10:00 EDTFANGOn The Fly: Analyst Upgrade Summary
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08:08 EDTPSMIPeregrine, RF Micro Devices settle all outstanding litigation
Peregrine Semiconductor (PSMI) and RF Micro Devices (RFMD) announced that they have settled all outstanding claims between the companies. The two parties have entered into patent cross licenses and have agreed to dismiss all related litigation. Specific financial terms of the agreement remain confidential.
06:20 EDTFANGDiamondback Energy upgraded to Buy from Neutral at Roth Capital
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06:14 EDTFANGDiamondback Energy upgraded to Buy from Neutral at Roth Capital
July 21, 2014
18:39 EDTFANGDiamondback Energy 5M share Secondary priced at $87.00
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08:34 EDTROSTRoss Stores opens 30 new locations in June and July
Ross Stores announced the June and July openings of 23 Ross Dress for Less and seven dd's DISCOUNTS stores across 17 different states. These new locations are part of the off-price retailer's plans to add a total of approximately 75 Ross and 20 dd's DISCOUNTS stores during 2014.
06:37 EDTFANGDiamondback Energy raises 2014 production guidance to 17-19 MBoe/d
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06:36 EDTFANGDiamondback Energy reports Q2 average daily production up 32% to 17,837 Boe/d
Diamondback's average daily production for the second quarter of 2014 increased 171% as compared to the second quarter of 2013.
06:35 EDTFANGDiamondback Energy to acquire additional acreage in Midland basin for $538M
Diamondback Energy announced the company has entered into a definitive purchase agreement with unrelated third party sellers to acquire additional leasehold interests in the Midland Basin for an aggregate purchase price of approximately $538M, subject to certain adjustments. Upon completion, the acquisition will provide Diamondback with primarily operated leasehold interests, the majority of which are located in Midland and western Glasscock Counties. The acquisition has 14,773 gross acres with net production of approximately 2,173 Boe/d in May from 131 gross producing wells. Net proved reserves, based on Diamondback's internal estimates as of June 2014, were approximately 5.2 MMBoe. Upon closing, the acquisition is expected to add 13,136 net acres to Diamondback's total position in the Midland Basin, increasing it to more than 85,000 net acres. The acquisition is scheduled to close in early September.
06:31 EDTFANGDiamondback Energy files to sell 5M shares of common stock
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July 20, 2014
16:08 EDTMDLZMondelez, D.E Master consider brand sales as coffee pact looms, Reuters says
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July 17, 2014
07:25 EDTFANGDiamondback Energy re-instated with an Outperform at Credit Suisse
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06:43 EDTCAMPCalAmp initiated with an Outperform at William Blair
William Blair started shares of CalAmp with an Outperform rating, saying the company is positioned to benefit from the broader growth of the machine-to-machine and mobile resource management markets.
July 16, 2014
16:24 EDTROSTOn The Fly: Closing Wrap
Stocks on Wall Street started the trading day higher, thanks in part to solid earnings reports from some of the nationís largest companies as well as a proposed mega-merger in the entertainment industry. Investors preparing for the next round of earnings after the close, which includes reports from eBay (EBAY), Yum! Brands (YUM), and Las Vegas Sands (LVS), did so with the Dow at a new all-time high. ECONOMIC EVENTS: In the U.S., the Producer Price Index for June rose 0.4%, which was ahead of expectations for a 0.2% increase. Industrial production grew 0.2% in June, missing the forecast for 0.3% growth. The NAHB homebuilder confidence index rose to 53 in July, ahead of expectations for it to tick up 1 point to 50. Economic activity expanded in all regions of the country at a moderate to modest pace in recent weeks, the Fed reported today in its Beige Book. Consumer spending rose in every region, as retail sales grew modestly in most areas and vehicle sales were stronger than sales of most other products, the central bank reported. COMPANY NEWS: Shares of HBO and Warner Bros. parent Time Warner (TWX) surged $12.12, or 17.07%, to $83.13 after it was reported by CNBC and DealBook's Andrew Ross Sorkin that the company had received, and rejected, a takeover offer worth about $80B, or $85 per share, from Rupert Murdoch's Twenty-First Century Fox (FOXA). Both Time Warner and Fox subsequently confirmed the report, with Time Warner stating that it rejected the bid since it was "not in the best interests of stockholders" and Fox noting that the companies are not currently in discussions. Afterward, research firm Jefferies said it believes 21st Century Fox could raise its bid for Time Warner into the mid-to-upper $90's per share, but it also thinks that Time Warner would still be unlikely to accept the offer. Meanwhile, FBR Capital said Fox could pay up to $120 for Time Warner and still make an accretive deal. Class A shares of Twenty-First Century Fox ended the day down $2.19, or 6.22%, to $33.00... Shares of Apple (AAPL) initially rose after announcing last night that it would collaborate with IBM (IBM) to provide mobile solutions for businesses. Goldman Sachs analyst Bill Shope wrote in a note to investors that the deal with IBM is clearly positive for Apple, as it validates the "unique enterprise capabilities" of iOS, which has a lack of fragmentation that makes it uniquely suited for organizations. BlackBerry (BBRY), which has a focus on mobile devices for business use, slid $1.33, or 11.77%, to $9.97 after the tech giants announced their new partnership. Apple closed down 54c, or 0.57%, to $94.78, though IBM (IBM), which reports after tomorrow's close, climbed $3.87, or 2.05%, to $192.36. MAJOR MOVERS: Among the notable gainers was Intel (INTC), which advanced $2.94, or 9.27%, to $34.65 after the semiconductor giant's second quarter results beat analysts' consensus estimates. Also higher was Tenet Healthcare (THC), which rallied $3.74, or 8.32%, to $48.71 after after another company in the hospital sector, HCA Holdings (HCA), pre-announced stronger than expected second quarter results. For its part, HCA rose $5.78, or 10.47%, to $60.99 after providing better than expected Q2 guidance and increasing its fiscal year outlook. Among the noteworthy losers was Yahoo (YHOO), which fell $1.82, or 5.11%, to $33.79 after the company's second quarter results fell short of analysts' consensus estimates. The company also said it will lower the amount of stock it will sell in Alibaba's initial public offering to 140M shares and that it plans to return "at least half" of its after-tax proceeds from the stake sale to its shareholders. Also lower were shares of Ross Stores (ROST), which fell $3.12, or 4.78%, to $62.15 after Sterne Agee downgraded its stock to Neutral from Buy and cut its price target for shares to $68 from $81, citing negative traffic trends and low visibility. INDEXES: The Dow rose 77.52, or 0.45%, to 17,138.20, the Nasdaq gained 9.58, or 0.22%, to 4,425.97, and the S&P 500 advanced 8.29, or 0.42%, to 1,981.57.
10:00 EDTROSTOn The Fly: Analyst Downgrade Summary
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05:39 EDTROSTRoss Stores downgraded to Neutral from Buy at Sterne Agee
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