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Stock Market & Financial Investment News

News Breaks
April 23, 2014
10:01 EDTTTM, QSII, TV, BRO, RUSHA, PHG, LLY, AEGN, RXN, PNR, CTCMOn The Fly: Analyst Downgrade Summary
Aegion (AEGN) downgraded to Neutral from Buy at Sidoti... Brown & Brown (BRO) downgraded to Neutral from Buy at Compass Point... CTC Media (CTCM) downgraded to Underperform from Neutral at Credit Suisse... Eli Lilly (LLY) downgraded to Neutral from Buy at MKM Partners... Grupo Televisa (TV) downgraded to Underperform from Neutral at BofA/Merrill... Pentair (PNR) downgraded to Neutral from Outperform at Wedbush... Philips (PHG) downgraded to Sector Perform from Outperform at RBC Capital... Quality Systems (QSII) downgraded to Underweight from Equal Weight at Morgan Stanley... Rexnord (RXN) downgraded at BofA/Merrill... Rush Enterprises (RUSHA) downgraded to Equal Weight from Overweight at Stephens... Tata Motors (TTM) downgraded to Neutral from Outperform at Credit Suisse.
News For AEGN;BRO;CTCM;LLY;TV;PNR;PHG;QSII;RXN;RUSHA;TTM From The Last 14 Days
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July 1, 2015
08:40 EDTLLYBofA/Merrill's Top 10 US Ideas for Q3
BofA/Merrill published its Top 10 U.S. Ideas Quarterly for Q3 that identifies companies it sees having significant catalysts in the next three months. The list includes eight Buys and two Underperforms. The Buys are Applied Materials (AMAT), Boise Cascade (BCC), Burlington Stores (BURL), Comcast (CMCSA), Comerica (CMA), Eli Lilly (LLY), Facebook (FB), and International Game (IGT). The Underperforms are BlackBerry (BBRY) and PBF Energy (PBF).
June 30, 2015
12:57 EDTPNROn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday as headlines about Greece once again dominate the news flow. Hopes that Greece may still reach a last-minute deal with its creditors were attributed for the market's early bounce, though optimism and the averages have been dropping as the day continues. ECONOMIC EVENTS: In the U.S., Case-Shiller 20-city composite home price index for April rose by a seasonally adjusted 0.3% month over month, versus the consensus forecast for an increase of 0.8%. The Chicago PMI jumped 3.2 points to 49.4 in June, though that was below the expected reading of 50.0. The Conference Board's consumer confidence index rose to 101.4 in June from a revised 94.6 reading for May, beating expectations for a reading of 97.4. In Europe, Greece's government submitted a proposal for a deal with the eurozone bailout fund to cover its debt repayments due between 2015 and 2017. Jeroen Dijsselbloem said eurozone finance ministers will discuss the Greek request in a conference call tonight, but German Chancellor Angela Merkel reportedly said that no new negotiations should take place before Greek holds its scheduled referendum. COMPANY NEWS: Shares of Pentair (PNR) advanced 5.5% after activist investor Nelson Peltz's Trian Group confirmed it has taken a 7.24% stake in the company. Trian noted it has met with the company’s senior management and communicated its view that the company can create significant value for its shareholders by facilitating "prudent industry consolidation" through accretive mergers and acquisitions as well as by making other changes, such as communicating its results as "cash" EPS... Another company in the sights of an activist, ConAgra (CAG), rose 1.5% after reporting first quarter results that were roughly in-line with expectations while also announcing that plans to exit Private Brands operations. ConAgra CEO Sean Connolly said during the associated call that he wants "constructive conversation" with Jana Partners, which reported earlier this month that it has taken a 7.2% stake in the packaged foods company and is prepared to seek three ConAgra board seats, if necessary, to help the board evaluate and address opportunities for shareholder value creation. MAJOR MOVERS: Among the notable gainers was Juno Therapeutics (JUNO), which jumped 19% after the company announced a ten-year global collaboration for the development and commercialization of immunotherapies with Celgene (CELG). As part of the deal, Celgene will make an initial payment of approximately $1B, which includes the purchase of approximately 9.1M shares of Juno stock at $93 per share. Also higher was TreeHouse Foods (THS), which gained 9% after peer ConAgra announced plans to exit its private brands operations. Among the noteworthy losers was Apollo Education (APOL), which dropped 16.5% and was downgraded at Bank of America Merrill Lynch after the for-profit education company reported higher than expected Q3 earnings but lowered its fiscal 2015 guidance. Also lower were shares of Tuesday Morning (TUES), which fell 13% after announcing that its CFO Jeffrey Boyer has resigned his position to take the same role with Pier 1 Imports (PIR). INDEXES: Near midday, the Dow was down 3.77, or 0.02%, to 17,592.58, the Nasdaq was up 11.24, or 0.23%, to 4,969.71, and the S&P 500 was flat near 2,057.81.
12:09 EDTPNRPentair peers advance after Peltz urges company to look for acquisitions
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10:29 EDTPNRTrian CIO says Pentair can do 'very accretive' acquisitions in upcoming years
Trian CIO Ed Garden is speaking on CNBC.
10:01 EDTPNRHigh option volume stocks
High option volume stocks: DEO PE BPOP PNR JUNO OFG CMPR MPEL
09:36 EDTPNRPentair gaps up on Trian stake, levels to watch
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09:26 EDTPNROn The Fly: Pre-market Movers
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08:16 EDTPNRTrian confirms 7.24% stake in Pentair, urges company to pursue M&A
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06:15 EDTPNRTrian builds 7.24% stake in Pentair, asks firm to consider deals, WSJ reports
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June 29, 2015
05:16 EDTLLYEli Lilly, Immunocore enter clinical trial collaboration
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June 26, 2015
09:15 EDTLLYEli Lilly price target raised to $102 from $97 at Piper Jaffray
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07:50 EDTLLYEli Lilly price target raised to $92 from $77 at Leerink
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07:34 EDTLLYEli Lilly volatility elevated as shares near record high
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05:17 EDTLLYEli Lilly, Adocia report positive Phase 1b topline results for BioChaperone Lisp
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June 25, 2015
10:00 EDTLLYOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AT&T (T) upgraded to Buy from Neutral at BofA/Merrill... Eli Lilly (LLY) upgraded to Buy, added to US 1 List at BofA/Merrill... Finish Line (FINL) upgraded to Buy from Neutral at B. Riley... Gran Tierra (GTE) upgraded to Buy from Hold at Canaccord... Greenhill & Co. (GHL) upgraded to Buy from Sell at Goldman... Magnum Hunter (MHR) upgraded to Equalweight from Underweight at Capital One... Marathon Oil (MRO) upgraded to Buy from Neutral at UBS... Newpark Resources (NR) upgraded to Strong Buy from Outperform at Raymond James... Office Depot (ODP) upgraded to Outperform from Market Perform at Telsey Advisory... Quanex (NX) upgraded to Outperform from In-Line at Imperial Capital... Vestas Wind (VWDRY) upgraded to Outperform from Neutral at Exane BNP Paribas... Web.com (WWWW) upgraded to Buy from Neutral at B. Riley... NRG Yield upgraded to Outperform from Market Perform at Avondale.
07:39 EDTLLYEli Lilly upgraded to Buy, added to US 1 List at BofA/Merrill
As previously reported, BofA/Merrill upgraded Eli Lilly to Buy from Neutral and added it to the US 1 List. The firm raised estimates and increased its price target to $101 from $74 based on more bullish pipeline expectations. BofA/Merrill highlights eva and sola pipelines, which have high risk/reward opportunities with Phase III data in the next 12-18 months. Firm forecasts peak sales of $1.5B for eva and $2B for sola and said success in either of these programs would result in significant upside to estimates.
06:44 EDTLLYEli Lilly upgraded to Buy from Neutral at BofA/Merrill
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06:07 EDTLLYEli Lilly reports UK court rules in favor of Lilly in Alimta vitamin patent suit
Eli Lilly announced that the Court of Appeal has ruled that the Alimta vitamin regimen patent would be indirectly infringed by a generic competitor that had stated its intent to market certain alternative salt forms of pemetrexed in the United Kingdom prior to the UK patent's expiration in June 2021. Specifically, the Court of Appeal held that commercialization of these alternative salt forms in the products as proposed would constitute indirect infringement by supplying an essential means for putting the patented invention into effect. The decision came in the case of Actavis v. Eli Lilly and Company. The Court of Appeal also held there was no difference between the law in the UK and that in France, Italy and Spain as it relates to indirect infringement, and so reversed the High Court's decision granting declarations of noninfringement over the Alimta vitamin regimen patents in those countries. Actavis may seek permission to appeal the decision to the UK Supreme Court. In addition, Actavis has stated it may ask the High Court to decide whether a different proposed product would infringe the patent. The Court of Appeal has ruled that the High Court will need to decide whether it will hear this new claim. If the High Court decides to hear Actavis' case on the different proposed product, Lilly will defend the case vigorously. In Europe, the compound patents for Alimta remain in force and are expected to provide exclusivity through December 2015. This decision increases the likelihood that the vitamin regimen patents for Alimta will provide exclusivity in the UK, France, Italy and Spain through June 2021.
June 22, 2015
11:31 EDTLLYActinobac Biomed signs licensing agreemnt with Eli Lilly unit Elanco
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08:39 EDTLLYBernstein pharmaceuticals analyst holds an analyst/industry conference call
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