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Stock Market & Financial Investment News

News Breaks
June 3, 2014
10:03 EDTKOS, CLVS, BRCM, GRA, ZQK, OIS, HEINY, CNC, AGN, TPLM, PHH, MWV, DANOY, CSH, AEIS, TSLX, OXLCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Advanced Energy (AEIS) downgraded to Hold from Buy at Needham... Allergan (AGN) downgraded to Neutral from Outperform at Credit Suisse... Broadcom (BRCM) downgraded at Stifel... Cash America (CSH) downgraded to Neutral at Janney Capital... Centene (CNC) downgraded to Sell from Neutral at Citigroup... Clovis (CLVS) downgraded to Neutral from Buy at Citigroup... Danone (DANOY) downgraded to Sell from Neutral at Goldman... Heineken (HEINY) downgraded to Sell from Neutral at Goldman... Kosmos (KOS) downgraded to Neutral from Accumulate at Global Hunter... MeadWestvaco (MWV) downgraded to Neutral from Buy at Buckingham... Oil States (OIS) downgraded to Neutral from Positive at Susquehanna... Oxford Lane (OXLC) downgraded to Neutral from Buy at Ladenburg... PHH Corp. (PHH) downgraded to Neutral from Buy at Compass Point... Quiksilver (ZQK) downgraded at Monness Crespi... TPG Specialty Lending (TSLX) downgraded to Market Perform at Wells Fargo... Triangle Petroleum (TPLM) downgraded to Neutral from Buy at Global Hunter... W.R. Grace (GRA) downgraded to Buy from Conviction Buy at Goldman.
News For AEIS;AGN;BRCM;CSH;CNC;CLVS;DANOY;HEINY;KOS;MWV;OIS;OXLC;PHH;ZQK;TSLX;TPLM;GRA From The Last 14 Days
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November 13, 2014
07:23 EDTAGNValeant wooing doctors ahead of hoped for Allergan acquisition, WSJ says
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07:03 EDTCSHCash America completes spin-off of Enova International
Cash America International (CSH) announced the successful completion of the spin-off of Enova International which will begin “regular way” trading today on the New York Stock Exchange under the ticker symbol “ENVA.” Cash America’s board of directors began evaluating strategic alternatives for the possible separation of Enova in the spring of 2014, and in July it announced its intent to pursue the spin-off of Enova into a separate public company. The separation creates two companies oriented to serving the capital needs of consumers through distinctively different business models; one through a traditional storefront network and the other solely through the internet. At 12:01 a.m. Eastern Time today, each holder of Cash America common stock received shares of Enova common stock at a rate of 0.915 shares for each Cash America share owned as of November 3, 2014, which was the record date for distribution. The distribution was issued in book entry form only and no physical certificates were issued. Fractional shares of Enova were not distributed, and Cash America shareholders will receive cash in lieu of any fractional shares they would otherwise have been entitled to receive in the distribution. Today’s distribution of Enova qualifies as a tax-free distribution to shareholders of Cash America. Cash America's common stock will continue to trade on the NYSE under the ticker symbol “CSH.” Cash America and Enova now operate as two independent companies. Cash America retains ownership of 20% of Enova following today’s distribution.
06:29 EDTCNCCentene downgraded to Market Perform from Outperform at FBR Capital
FBR Capital downgraded Centene to Market Perform citing valuation following the recent rally in shares.
05:34 EDTBRCMBroadcom upgraded to Buy from Neutral at Goldman
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November 12, 2014
17:30 EDTCLVSClovis announces first patient enrolled in TIGER-1 study
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16:53 EDTAGNAllergan receives FDA approval for new styles of NATRELLE 410
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12:10 EDTGRAW.R. Grace initiated with a Buy at Tigress Financial
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10:09 EDTAGNActavis in talks to buy Allergan for over $200 per share, Bloomberg says
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10:07 EDTCLVSHigh option volume stocks: DDS FOSL ZTS CMA CLVS CZR
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10:01 EDTAGNActavis in talks to buy Allergan for $60B, more than $200/share Bloomberg says
Actavis (ACT) is said to seek to pay about $200 per share, but Allergan (AGN) seeks about $210 per share, according to Bloomberg.
08:58 EDTCNCManaged Care earnings risk low from King vs. Burwell, says Leerink
Leerink believes the Supreme Court decision to the King vs. Burwell case carries low earnings risk for Managed Care companies. The case to determine the legality of Exchange subsidies administered by the Federal Government carries less than 2% and 3% of earnings risk for 2014 and 2015 estimates, respectively, Leerink believes. The firm says Humana (HUM) and Cigna (CI) are currently losing money on Exchanges, and thus could benefit from any Federal Exchange membership loss. Leerink lists Aetna (AET), Centene (CNC), WellPoint (WLP) and Molina Healthcare (MOH) as being most impacted.
08:02 EDTCNCCredit Suisse to hold a conference
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07:01 EDTAGNAllergan announces approval of amendments to company bylaws
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06:22 EDTAGNZoetis price target raised to $49 from $44 at Citigroup
Citigroup raised its price target for Zoetis (ZTS) shares to $49 after activist Pershing Square confirmed the accumulation of a 10% stake in the company. Citi thinks Pershing is interested in advocating for a sale of Zoetis, potentially to Valeant (VRX) if its bid for Allergan (AGN) fails. Citi believes others, including Bayer (BAYRY), could be interested in acquiring Zoetis. It keeps a Buy rating on the stock.
November 11, 2014
15:46 EDTAGNPershing Square, Sachem Head build 10% stake in Zoetis, WSJ reports
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12:55 EDTCNCWorkarounds to likely protect insurers from Supreme Court decision, says Wedbush
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08:32 EDTAGNValeant likely to raise offer for Allergan again, says Bernstein
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07:30 EDTZQKQuiksilver to sell Surfdome to SurfStitch Group in all-cash transaction
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November 10, 2014
10:14 EDTPHHHigh option volume stocks
High option volume stocks: UN PAGP PHH RGLS DF URA CERS DNDN LGF CALL
November 9, 2014
13:26 EDTAGNAckman's Allergan court win may prove costly down the road, Bloomberg says
When U.S. District Court Judge David Carter ruled on November 4 that Pershing Square can vote its 9.7% stake in Allergan (AGN) in a shareholder ballot aiming to remove Allergan directors, he also noted that there were “serious questions” regarding insider trading rules in the way Pershing Square acquired Allergan stock while preparing a bid with Valeant (VRX), says Bloomberg. Reference Link
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