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January 27, 2014
10:00 EDTFMBI, PB, MHK, MTG, ETFC, SMI, XOOM, POT, MTH, HON, ATLS, HAFC, SALE, BTU, MRK, EIX, AGI, KSUOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Alamos Gold (AGI) upgraded to Outperform from Sector Perform at RBC Capital... Atlas Energy (ATLS) upgraded to Outperform from Neutral at RW Baird... E-Trade (ETFC) upgraded to Outperform from Market Perform at JMP Securities... Edison International (EIX) upgraded to Hold from Underperform at Jefferies... Honeywell (HON) upgraded to Buy from Hold at Lagenberg... MGIC Investment (MTG) upgraded to Outperform from Market Perform at JMP Securities... Merck (MRK) upgraded to Overweight from Underweight at Morgan Stanley... Meritage Homes (MTH) upgraded to Overweight from Equal Weight at Barclays... Mohawk (MHK) upgraded to Overweight from Neutral at JPMorgan... Peabody (BTU) upgraded to Neutral from Underperform at BofA/Merrill... Potash (POT) upgraded to Outperform from Market Perform at Raymond James... Prosperity Bancshares (PB) upgraded to Outperform from Market Perform at BMO Capital... RetailMeNot (SALE) upgraded to Buy from Neutral at Goldman... Xoom (XOOM) upgraded to Strong Buy from Market Perform at Raymond James... First Midwest (FMBI) upgraded to Outperform from Market Perform at Fig Partners... Hanmi Financial (HAFC) upgraded to Outperform from Market Perform at Keefe Bruyette... Semiconductor Manufacturing (SMI) upgraded to Buy from Sell at UBS... Kansas City Southern (KSU) upgraded to Neutral from Underperform at Buckingham.
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January 22, 2015
10:03 EDTHONOn the Fly: Analyst Initiation Summary
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09:34 EDTAGIAlamos Gold downgraded to Hold from Buy at Desjardins
08:11 EDTKSUKansas City Southern January weekly volatility elevated into Q4 and outlook
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06:10 EDTAGIAlamos Gold sees FY15 gold production 150K-170K oz
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06:09 EDTAGIAlamos Gold reports Q4 gold sales 38,400 oz
Alamos sold 38,400 ounces of gold in Q4 at an average realized gold price of $1,200 per ounce for quarterly revenues of $46.1M, a 14% decrease from revenues of $53.8M in the same period of 2013 reflecting a lower realized gold price and fewer ounces sold. For 2014, the company sold 134,600 ounces of gold at a realized price of $1,263 per ounce. Annual revenues of $169.9M were 40% lower than revenues of $282.2M in 2013 reflecting the decrease in the gold price during 2014 and fewer ounces sold.
06:08 EDTAGIAlamos Gold reports Q4 Mulatos mine production 42,500 gold oz
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January 21, 2015
16:11 EDTHONHoneywell initiated with a Neutral at UBS
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14:21 EDTATLSCooperman buys 144K share of Atlas Energy
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10:16 EDTMRKLeerink biopharma analysts hold an analyst/industry conference call
Analyst Fernandez, along with Dr. Paul Gurbel and Dr. Richard Becker, discuss AstraZeneca's PEGASUS trial and the current use of Brilinta and dual antiplatelet therapy for prevention of CV disease and implications of the recently completed DAPT trial on an Analyst/Industry conference call to be held on January 21 at 1:30 pm.
08:02 EDTMRKMerck completes tender offer to acquire Cubist
Merck (MRK) announced the successful completion of the tender offer for all of the outstanding shares of common stock of Cubist Pharmaceuticals (CBST) at a purchase price of $102.00 per share. As of the tender offer expiration yesterday, 58,039,667 shares of common stock of Cubist were validly tendered and not properly withdrawn from the tender offer, representing approximately 75.7% of the outstanding common stock of Cubist on a fully diluted basis. All of such shares have been accepted for payment in accordance with the terms of the tender offer, and Merck expects to promptly pay for all such shares. Following consummation of the tender offer, Merck expects to complete the acquisition of Cubist later today through a merger of Merckís wholly owned subsidiary with and into Cubist without stockholder approval. Upon completion of the merger, all outstanding shares of common stock of Cubist, other than shares held by Cubist in treasury or shares held by Cubistís stockholders who are entitled to and properly exercise appraisal rights under Delaware law, will be canceled and converted into the right to receive cash equal to the $102.00 offer price per share without interest, less any applicable withholding taxes. In addition, upon completion of the merger, Cubist will become a wholly owned subsidiary of Merck and the common stock of Cubist will cease to be traded on the NASDAQ Stock Market.
07:55 EDTHONHoneywell volatility elevated into Q4 and outlook
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January 20, 2015
19:41 EDTFMBIFirst Midwest reports Q4 EPS 27c, consensus 23c
Reports Q4 top-line revenue $111M, consensus $109.46M.
17:18 EDTMRKDana Holding to replace Cubist in S&P 400 as of 1/22 close
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12:01 EDTHONIKONICS announces continuing program with Honeywell Aerospace
IKONICS Corporation (IKNX), a Duluth-based technology company, announced its continuing program with Honeywell Aerospace (HON) for micro-electro-mechanical systems, MEMS, technology in support of U.S. Defense Advanced Research Projects Agency, DARPA, projects and internal testing at the Plymouth, MN facility. Sue Boudrie, Operations Manager for Ikonics' Advanced Materials Solutions division, said: "We are proud to be working closely on these important defense projects with a technology leader like Honeywell and are pleased that our expertise is appreciated and rewarded."
09:11 EDTMTGOn The Fly: Pre-market Movers
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08:26 EDTPOTAgrium preferred over Potash, Mosaic at Canaccord
Canaccord said they prefer Agrium (AGU) over both Potash (POT) and Mosaic (MOS). Mosaic raised its guidance due to its phosphate business, but with a lack of catalysts expected in the potash market in 2015 the firm continues to see solid growth volume, increasing nitrogen margins, and free cash flow expansion for Agrium. Canaccord maintains its Buy rating on Agrium and its Hold rating on both Mosaic and Potash shares.
07:23 EDTMRKMerck funding testing of lower dosages of Zilmax, Reuters reports
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07:11 EDTMTHMeritage Homes downgraded to Underperform from Neutral at Credit Suisse
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07:08 EDTMTGMGIC Investment reports Q4 EPS 19c, consensus 15c
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January 19, 2015
16:28 EDTPOTMosaic raises Q4 EPS outlook to 83c-88c, consensus 57c
The Mosaic Company announced that it expects reported phosphates volume and phosphates and potash margins to exceed previously provided guidance ranges, and that potash volumes will be at the high end of guidance range, resulting in Q4 earnings per share in the range of 93c-98c, including 10c in net benefits from notable items. The notable items include early estimates of discrete tax benefits, primarily related to the acquisition of a Brazilian distribution business, which may change. The company expect earnings, excluding notable items, to be in the range of 83c-88c. The consensus EPS estimate is 57c..Mosaic stated, "Demand for potash and phosphates exceeded our expectations during the fourth quarter,. We were cautiously optimistic going into the fall application season with good crop nutrient affordability and an empty supply chain, but customers came to the market in force, as they sought to position inventory in anticipation of a strong spring season and increasing crop nutrient prices...Our Phosphates business sold 3.3 million tonnes of finished product during the quarter - well above our expectations - and our Potash business produced at a high operating rate due to a successful proving run at the Colonsay mine." Mosaic's peers include Potash (POT) and Agrium (AGU).
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