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Stock Market & Financial Investment News

News Breaks
January 27, 2014
08:21 EDTAFFX, DDXS, FLDM, PACB, PKI, SQNM, WATMaxim recommends life science tools, diagnostics ahead of earnings
Maxim expects 2014 to be a "great year" for life science tools and diagnostics stocks and recommends buying Affymetrix (AFFX), diaDexus (DDXS), Fluidigm (FLDM), Pacific Biosciences (PACB), PerkinElmer (PKI), Sequenom (SQNM) and Waters (WAT) ahead of the Q4 results. Maxim has a preference for Pacific Biosciences, PerkinElmer and Waters. The firm raised its price target for Fluidigm to $52 from $42 and for Pacific Biosciences to $9 from $8.
News For AFFX;DDXS;FLDM;PACB;PKI;SQNM;WAT From The Last 14 Days
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October 23, 2014
16:04 EDTPACBPacific Biosciences reports Q3 EPS (13c), consensus (16c)
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October 22, 2014
11:34 EDTFLDM, PACBLeerink's life science tools analyst holds an analyst/industry conference call
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07:35 EDTDDXSCardiometabolic Health Congress to hold annual meeting
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October 21, 2014
16:36 EDTWATOn The Fly: Closing Wrap
Stocks on Wall Street were higher after a report showed existing homes sales hit their fastest pace in a year during September and Apple (AAPL) gave a better than expected sales forecast for its December quarter. ECONOMIC EVENTS: In the U.S., existing home sales beat estimates in September, rising 2.4% from the prior month to a 5.17M rate. In China, GDP slowed to 7.3% year-over-year growth pace in Q3 from 7.5% in Q2, though that was slightly better than expected. Chinese industrial production expanded at a 8.0% rate in September, which was well above projections and up from 6.9% growth in August. China's retail sales grew 11.6% in September compared to the prior year, which was nearly in-line with expectations. COMPANY NEWS: Shares of Apple rose $2.71, or 2.72%, to $102.47 after the company reported better than expected quarterly results and gave a better than expected forecast for its sales during the holiday quarter. Following last night's report, analysts at Cantor Fitzgerald said the iPhone maker "executed impressively" in Q4 and provided a strong outlook for Q1. The firm, which believes investors should "start thinking more boldly" about the company, raised its price target for shares to $143 from $123 and kept a Buy rating on the stock... Five of the Dow's 30 members reported on their quarterly results this morning and Coca-Cola (KO) was the clear loser in the bunch. The soda giant's shares dropped $2.61, or 6.03%, to $40.68 after its revenue missed expectations, it warned that it now expects to be below its long-term EPS growth target for 2014, and the company announced new cost-saving measures. Among the other four, McDonald’s (MCD) fell 0.63%, Verizon (VZ) added 0.43%, United Technologies (UTX) gained 0.49%, and Travelers (TRV) rose 1.12%. MAJOR MOVERS: Among the notable gainers following their earnings reports were medical equipment manufacturer Waters (WAT), which rose $9.63, or 9.87%, to $107.17, and motorcycle maker Harley-Davidson (HOG), which advanced $4.27, or 7.31%, to $62.65. Among the noteworthy losers was Ocwen Financial (OCN), which plunged $4.78, or 18.2%, to $21.48 after the company was called out by the New York Department of Financial Services for erroneously dated letters to borrowers. Benjamin Lawsky, the Superintendent for the NYDFS, stated in his letter to the company that if his department concludes it cannot trust Ocwen's systems and processes, "then it cannot trust Ocwen is complying with the law." Also lower following their earnings reports were Mexican restaurant operator Chipotle (CMG), which fell $45.48, or 6.96%, to $607.55, and defense contractor Lockheed Martin (LMT), which slid $2.92, or 1.66%, to $172.61. INDEXES: The Dow gained 215.14, or 1.31%, to 16,614.81, the Nasdaq advanced 103.40, or 2.4%, to 4,419.48, and the S&P 500 rose 37.27, or 1.96%, to 1,941.28.
10:00 EDTPKIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AbbVie (ABBV) downgraded to Neutral from Buy at Guggenheim... BHP Billiton (BHP) downgraded to Hold from Buy at Jefferies... Bank of Marin (BMRC) downgraded to Market Perform from Outperform at Keefe Bruyette... Cobalt (CIE) downgraded to Speculative Buy from Buy at Global Hunter... Consolidated Edison (ED) downgraded to Underweight at Morgan Stanley... Deutsche Post (DPSGY) downgraded to Hold from Buy at Deutsche Bank... HCP (HCP) downgraded to Hold from Buy at Jefferies... IBM (IBM) downgraded to Hold from Buy at Evercore... Inland Real Estate (IRC) downgraded to Underperform from Neutral at BofA/Merrill... PerkinElmer (PKI) downgraded to Neutral from Buy at Janney Capital... Philips (PHG) downgraded to Neutral at UBS... QEP Midstream Partners (QEPM) downgraded to Market Perform at Wells Fargo... Rent-A-Center (RCII) downgraded to Market Perform from Outperform at Raymond James... Rhino Resources (RNO) downgraded to Underperform from Market Perform at Raymond James... Universal Forest (UFPI) downgraded to Neutral from Buy at Sterne Agee.
09:07 EDTWATWaters says interviewing potential CEO candidates on 'weekly basis'
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08:52 EDTWATWaters sees Q4 constant currency sales growth in 4%-5% range
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08:52 EDTWATWaters raises FY14 EPS view to $5.34-$5.44 from $5.25-$5.40
Consensus is $5.30. Sees FY14 constant currency sales growth around 5%. Says has "conservative" short-term outlook in guidance. Says monitoring business conditions in China. Says "actively progressing" in search for successor to CEO Douglas Berthiaume. Sees spending most of its cash to buy back shares. Sees FY14 operating tax rate around 14%. Sees gross margins in Q4 sequentially iproving from Q3.
08:51 EDTWATWaters sees Q4 EPS $1.83-$1.93, consensus $1.90
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08:02 EDTPKIPerkinElmer downgraded to Neutral from Buy at Janney Capital
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07:01 EDTWATWaters reports Q3 adjusted EPS $1.38, consensus $1.29
Reports Q3 revenue $493.2M, consensus $486.58M.
October 20, 2014
15:36 EDTWATNotable companies reporting before tomorrow's open
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07:10 EDTPKI, FLDM, AFFXAmerican Society of Human Genetics to hold annual meeting
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06:32 EDTAFFXAffymetrix licenses Peptide Groove technology
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October 16, 2014
06:32 EDTAFFXAffymetrix and Ariosa Diagnostics sign multi-year prenatal test supply agreement
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October 15, 2014
07:43 EDTPACBPacific Biosciences releases new enhancing DNA sequencing chemistry
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