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February 6, 2013
10:03 EDTEA, HRC, PVA, MMC, GCI, CHD, ITRI, DO, DELL, CG, MS, SLW, PDCE, EXPR, AGNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Allergan (AGN) upgraded to Outperform from Market Perform at JMP Securities... Carlyle Group (CG) upgraded to Buy from Neutral at Citigroup... Dell (DELL) upgraded to Neutral from Sell at Citigroup... Express (EXPR) upgraded to Overweight from Neutral at JPMorgan... Gannett (GCI) upgraded to Buy from Neutral at Citigroup... Marsh & McLennan (MMC) upgraded to Buy from Neutral at Goldman... PDC Energy (PDCE) upgraded to Buy from Hold at Miller Tabak... Diamond Offshore (DO) upgraded to Outperform from Sector Perform at Iberia... Penn Virginia (PVA) upgraded to Outperform from Sector Perform at Howard Weil... Silver Wheaton (SLW) upgraded to Outperform from Neutral at Credit Suisse... Itron (ITRI) upgraded to Buy from Hold at Argus... Hill-Rom (HRC) upgraded to Conviction Buy from Buy at Goldman... Morgan Stanley (MS) upgraded to Neutral from Reduce at SunTrust... Church & Dwight (CHD) upgraded to Outperform from Underperform at CLSA... Electronic Arts (EA) upgraded to Buy from Neutral at Sterne Agee.
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May 27, 2015
14:24 EDTEXPRExpress technical comments ahead of earnings
The key technical feature on the daily chart is a double top pattern that is already in progress. If the news is bearish, the pattern will continue. The downside potential for the pattern is to the $14 area. If the news is bullish, a breakout above the 50-day moving average at $16.85 would void the pattern. Resistance levels to watch as potential upside objectives thereafter would be at $17.75, the 52-week high, and then at $18.90.
13:39 EDTEXPRExpress June volatility elevated into Q1 and outlook
Express June call option implied volatility is at 49, July is at 41, October is at 40; compared to its 52-week range of 28 to 75, suggesting large near term price movement into the expected release of Q1 result on May 28.
08:48 EDTITRIItron selected by Linea Distribuzione to modernize distrbution system
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06:57 EDTMSAbbVie enters into ASR with Morgan Stanley to repurchase $5B of stock
AbbVie (ABBV) said in a regulatory filing that on May 26, it entered into an accelerated share repurchase agreement with Morgan Stanley (MS) to repurchase $5B of AbbVie’s common stock. Morgan Stanley is expected to make an initial delivery of approximately 68 million shares of AbbVie’s common stock on May 27, which represents 90% of the prepayment amount divided by the closing price of AbbVie’s common stock on May 26. At settlement of the agreement, Morgan Stanley may be required to deliver additional shares of AbbVie’s common stock to AbbVie or, under certain circumstances, AbbVie may be required to deliver shares of its common stock or may elect to make a cash payment to Morgan Stanley. The total number of shares of AbbVie’s common stock to be repurchased under the agreement will be based on the daily volume-weighted average price of AbbVie’s common stock during the term of the transaction, less a discount and subject to adjustment pursuant to the terms of the agreement. The final settlement of the transactions under the agreement is expected to occur before the end of 4Q15 and may be accelerated at the option of Morgan Stanley.This agreement was entered into pursuant to AbbVie’s previously disclosed share repurchase authorization and in connection with AbbVie’s previously announced acquisition of Pharmacyclics, which was completed on May 26.
May 26, 2015
14:33 EDTMMCMercer acquires Kepler Associates, terms not disclosed
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11:37 EDTEXPRExpress lower promotional activity a good sign for earnings, says Piper Jaffray
Piper Jaffray said its checks indicate Express had only five days in Q1 during which the entire store was discounted, which is down significantly from 20 such days in Q1 of last year, which bodes well for its margins and EPS. The firm believe the company has the potential for significant margin expansion in 2015 and over the next few years and reiterates its Overweight rating and $21 price target on the stock ahead of its Q1 report, which is due on Thursday, May 28.
10:16 EDTEAElectronic Arts management to meet with UBS
Meetings to be held in Chicago on May 27 and in Toronto on May 28 hosted by UBS.
10:13 EDTEXPRHigh option volume stocks
08:17 EDTCGGoldman hired by Carlyle for potential stake sale in Telecable, Reuters reports
Goldman Sachs (GS) has been hired by Carlyle (CG) to advise the company on a possible sale of its 85% stake in Telecable, a Spanish telecoms operator, Reuters reports, citing two sources. Reference Link
May 21, 2015
12:03 EDTEAElectronic Arts to reboot 'Need for Speed' franchise with new game
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10:34 EDTMMCMarsh & McLennan boosts dividend by 11%, increases repurchase to $2B
Marsh & McLennan Companies held its annual meeting of shareholders at which the Company announced that its Board of Directors voted to increase both the Company’s quarterly cash dividend and share repurchase program. The Board of Directors increased the quarterly cash dividend by 11% from 28c to 31c per share on outstanding common stock. The dividend is payable on August 14, to shareholders of record on July 10. The Board also authorized an increase in the Company’s share repurchase program, allowing management to buy back up to $2B of the Company’s common stock going forward, which supersedes any prior authorization. Marsh & McLennan Companies Independent Chairman of the Board Lord Lang of Monkton said: “Today’s actions to increase Marsh & McLennan’s quarterly dividend and share repurchase program demonstrate the Company’s commitment to creating long-term value for shareholders. The ability to return capital to investors while also investing in growth and efficiencies is a hallmark of effective capital management.”
May 20, 2015
08:48 EDTITRISalzburg AG expands smart grid contract with Itron
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08:21 EDTMSATM data theft soars to highest rate in two decades, WSJ says
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06:14 EDTEAElectronic Arts says mobile gaming head Frank Gibeau steps down
Electronic Arts said in a regulatory filing that on May 19, the company announced that Frank Gibeau, EVP, EA Mobile has chosen to transition on from the company. His last day was May 18. CEO Andrew Wilson commented, "Mobile games continue to be a core focus for EA, and thanks to our incredibly talented mobile teams, our position has never been stronger. With a foundation of key titles, core strength in live services that provide years of entertainment, and new games that are bringing in more players, engagement across the EA Mobile portfolio continues to grow. Our studio teams have new experiences in development for some of EA’s biggest franchises, powerful new IP like The Minions and Star Wars, and more creative concepts at early stages in the testing process. As the mobile gaming audience continues its rapid expansion, EA has a tremendous opportunity to deliver amazing entertainment to more players around the world."
06:10 EDTMSMorgan Stanley implied volatility of 16 at lower end of index mean range
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May 19, 2015
11:49 EDTEATake-Two surges after GTA maker's profit tops estimates
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May 18, 2015
10:01 EDTPDCEOn The Fly: Analyst Initiation Summary
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09:46 EDTMSMPLX enters common unit sales agreement for up to $500M
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09:01 EDTMMCMarsh, FireEye announce collaboration to offer cybersecurity readiness service
Marsh (MMC) and FireEye (FEYE) announced a collaboration to offer clients Marsh Cyber OASIS. This service is designed to assists clients by providing an objective evaluation of their organization’s ability to detect and respond to cyber-attacks, and the strength of their technical infrastructure.
05:49 EDTPDCEPDC Energy initiated with a Conviction Buy at Goldman
Target $77.
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