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Stock Market & Financial Investment News

News Breaks
June 3, 2014
10:03 EDTTSLX, OXLC, KOS, CLVS, BRCM, GRA, ZQK, OIS, HEINY, CNC, AGN, TPLM, PHH, MWV, DANOY, CSH, AEISOn 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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July 2, 2015
08:04 EDTCNCHealth Net volatility low into Centene acquiring in deal valued at about $6.8B
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07:58 EDTCNCCentene volatility low into acquiring Health Net in deal valued at about $6.8B
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07:32 EDTCNCCentene & Health Net to host joint conference call
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07:30 EDTKOSKosmos upgraded to Outperform at BMO Capital
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07:05 EDTCNCCentene to acquire Health Net in deal valued at about $6.8B
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07:02 EDTCNCCentene to acquire Health Net for implied consideration of $78.57 per share
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07:01 EDTCNCCentene, Health Net to combine in transaction valued at about $6.8B
06:16 EDTKOSKosmos upgraded to Outperform from Market Perform at BMO Capital
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July 1, 2015
16:07 EDTCLVSClovis initiates rolling NDA submission to FDA for Rociletinib
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08:17 EDTKOSKosmos management to meet with Deutsche Bank
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June 30, 2015
08:35 EDTBRCMBroadcom risk/reward looks positive, says Bernstein
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07:23 EDTKOSKosmos management to meet with Deutsche Bank
Meetings to be held in Geneva/Zurich on June 30 hosted by Deutsche Bank.
June 29, 2015
17:22 EDTAGNAllergan reports 6.7% stake in KYTHERA
16:32 EDTAEISAdvanced Energy to wind down Solar Inverter business
Advanced Energy Industries announced that it has made a strategic decision to focus solely on its Precision Power business and wind down its Solar Inverter business, which is operated under AE Solar Energy Inc., AEI Power GmbH and their subsidiaries. Advanced Energy expects to record a pre-tax charge of approximately $260M-$290M related to the wind down of the Solar Inverter business operations, the majority of which will be recorded in the second quarter. Of this write down, approximately $150M relates to the impairment of goodwill and intangibles, $45M-$75M to the write down of inventory, fixed and other assets, $15M for employee termination cost, $10M for tax valuation allowances and the remaining $40M for other costs to exit the business. Cash costs for severance and other expenses related to this decision are expected to range from $30M-$45M of which we expect $20M-$30M will be in 2015 with the remainder in subsequent years. These costs will be recorded as impairment and restructuring charges on the company's income statement. The company plans to fund the cash costs through internally generated funds. Over the past six months the company has engaged in a rigorous process exploring and evaluating various strategic alternatives for the Solar Inverter business, including a potential sale, joint venture, partnership, spin-off, licensing and other alternatives. To date, strategic discussions with third parties regarding the sale of the entire business have not provided sufficient value and terms that were in the best interest of our shareholders, customers, employees and partners. Therefore, the company has made the decision to wind down the Solar Inverter business. The company anticipates an orderly wind down of the Solar Inverter business, with AE Solar Energy Inc., AEI Power GmbH and their subsidiaries supporting their customers, the installed base and fulfilling customer purchase orders on hand.
June 25, 2015
11:06 EDTCNCHospitals, insurers climb after Supreme Court rules on ACA subsidies
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10:11 EDTCNCACA tax subsidies upheld by Supreme Court
The decision of the Fourth Circuit was affirmed in King v. Burwell by a vote of 6 to 3, according to multiple media reports. The Supreme Court upholding the lower court ruling means that individuals who get health insurance through an exchange established by the federal government will be eligible for tax subsidies in all 50 states. Publicly traded companies in the health insurance space include Aetna (AET), Anthem (ANTM), Centene (CNC), Cigna (CI), Health Net (HNT), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG). Publicly traded companies in the hospital space include Community Health (CYH), HCA Holdings (HCA), LifePoint (LPNT), Tenet (THC) and Universal Health (UHS).
08:13 EDTAGNAllergan CEO: Irvine campus ‘crucial’ to company, L.A. Times reports
New Allergan CEO Brent Saunders said that the company’s Irvine, California campus is “crucial” to the recently purchased organization, the L.A. Times reports, citing comments from Saunders in an interview. Allergan was purchased in March by Actavis, a move which led to the layoff of roughly 600 employees from the Irvine offices, the report says. Saunders said that the “bleeding has stopped” after a round of layoffs, the L.A. Times says. Reference Link
08:05 EDTBRCMBroadcom signs strategic collaborations in China
Broadcom announced a series of Memorandum of Understanding agreements with several Chinese companies, including H3C for collaboration on the integration of cloud and Internet services, Inspur for collaboration to drive continued innovation in Ultra HD set-top box offerings for China, and StarTimes for joint design and development of low cost set-top boxes and high end Ultra HD gateways.
June 24, 2015
17:34 EDTMWVRockTenn, MeadWestvaco shareholders approve combination
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06:03 EDTMWVRockTenn announces perliminary shareholder merger election results
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