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Stock Market & Financial Investment News

News Breaks
January 11, 2013
10:12 EDTGWAY, OKSB, ROSE, DISCA, PANW, VRSN, ABT, WPZ, CIEN, SSTK, SLXP, SCOR, AOL, DHI, GMT, MAS, TAP, MRH, OC, AIGOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AIG (AIG) initiated with an Outperform at FBR Capital... AOL (AOL) initiated with a Hold at Cantor... comScore (SCOR) initiated with a Hold at Cantor... D.R. Horton (DHI) initiated with a Buy at BofA/Merrill... GATX Corp. (GMT) initiated with a Buy at Stifel Nicolaus... Masco (MAS) initiated with a Buy at BofA/Merrill... Molson Coors (TAP) initiated with a Buy at Nomura... Montpelier Re (MRH) initiated with a Market Perform at JMP Securities... Owens Corning (OC) initiated with a Buy at BofA/Merrill... Salix (SLXP) initiated with an Outperform at RBC Capital... Shutterstock (SSTK) initiated with a Buy at Cantor... Southwest Bancorp (OKSB) initiated with a Buy at DA Davidson... Rosetta Resources (ROSE) initiated with an Overweight at Stephens... Discovery (DISCA) coverage resumed with a Neutral at JPMorgan... Palo Alto (PANW) initiated with a Neutral at B. Riley Caris... VeriSign (VRSN) initiated with a Neutral at B. Riley Caris... Abbott (ABT) initiated with an Equal Weight at Barclays... Williams Partners (WPZ) initiated with a Buy at Global Hunter... Ciena (CIEN) initiated with a Buy at Maxim... Greenway Medical (GWAY) initiated with a Buy at Sidoti.
News For AIG;SCOR;AOL;DHI;GMT;MAS;TAP;MRH;OC;SLXP;SSTK;OKSB;ROSE;DISCA;PANW;VRSN;ABT;WPZ;CIEN;GWAY From The Last 14 Days
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October 13, 2014
07:11 EDTDHID.R. Horton upgraded to Buy from Neutral at Compass Point
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05:56 EDTMASMasco downgraded to Equal Weight from Overweight at Barclays
Barclays downgraded Masco to Equal Weight citing its preference for companies with commercial exposure. The firm lowered its price target for shares to $26 from $27.
October 12, 2014
17:34 EDTPANWJPMorgan to double spending on cybersecurity over next five years, WSJ says
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October 10, 2014
10:01 EDTTAPMolson Coors and SABMiller settle Canada litigation
Molson Canada 2005, a subsidiary of Molson Coors, and Miller Brewing Company, a subsidiary of SABMiller, jointly announce that they have settled amicably their litigation in Toronto, Canada, arising from the Licence Agreement for the Miller trademark brands in Canada. As a result of the settlement, the rights to distribute Miller trademark brands in Canada will revert to SABMiller effective April 1, 2015.
October 9, 2014
11:14 EDTSLXPAllergan raises outlook again as Valeant pursuit continues
Drug maker Allergan (AGN) this morning preannounced stronger than expected results and again raised its fiscal year profit guidance. The beat and raise results come after The Wall Street Journal reported on Tuesday that drug maker Valeant (VRX) and hedge fund Pershing Square intend to raise their previous bid for Allergan by $15 per share to about $191. Meanwhile, also on Tuesday, Reuters said that drug maker Actavis (ACT) plans to make a new merger offer to Allergan, and sources indicated to the news service that Allergan may be willing to consider an offer from Actavis if the bid is for more than $200 per share. WHAT'S NEW: Allergan estimated that its third quarter earnings per share would come in at $1.76-$1.78, versus analysts' consensus estimate of $1.48. The drug maker had previously provided Q3 EPS guidance of $1.44-$1.47. Allergan raised its fiscal 2014 EPS guidance to $6.20-$6.25 from $5.74-$5.80. Analysts' consensus estimate was $5.81. This is the fourth time that Allergan has raised its guidance this year. Allergan said that its markets have been strong around the world, while it is gaining market share in most categories. ANALYST REACTION: In a note to investors today, Wells Fargo analyst Larry Biegelsen wrote that, in the wake of Allergan's guidance increase, the company's price to earnings multiple could expand to 22x its estimated 2016 earnings, up from its current multiple of 19x. In addition to the raised guidance, a potential accretive acquisition by Allergan and the possibility that it will be acquired make such an increase in the multiple "quite possible," Biegelsen contended. He kept an Outperform rating on the stock. WHAT'S NOTABLE: Allergan has reportedly held advanced talks about acquiring another company in the sector, Salix (SLXP), although CNBC's David Faber on October 2 reported that the talks between the two companies about a merger had "cooled considerably." PRICE ACTION: In late morning trading, Allergan rose fractionally to $191.06 while Valeant slid 1.5% to $124.08.
09:06 EDTDISCADiscovery obtains exclusive TV rights to Hasbro film
Discovery's (DISCA) Family Channel - formerly Hub Network - has obtained the exclusive broadcast rights to Hasbro's (HAS) animated film "My Little Pony Equestria Girls: Rainbow Rocks" to air on October 17.
08:50 EDTSLXPAllergan shares have further upside, says Wells Fargo
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06:40 EDTPANWSource of JPMorgan cyberattack still unclear, NY Times says
The source of the cyberattack on JPMorgan (JPM) and other U.S. financial institutions this summer is still unclear, according to The New York Times. The hackers may have tried to hit about a dozen financial institutions , and E-Trade(ETFC) and Fidelity Investments may have been victimized in some way, the newspaper stated, citing an unnamed source who was briefed on the matter. At least five other banks, including Citigroup (C), HSBC (HBC) and Regions Financial (RF), discovered that one of the web addresses used by those who hacked JPMorgan tried to penetrate their systems, The Times quoted unnamed sources briefed on the matter as saying. Publicly traded companies in the space include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC). Reference Link
October 8, 2014
12:12 EDTPANWPalo Alto management to meet with Oppenheimer
Meeting to be held in Canada on October 14 hosted by Oppenheimer.
10:06 EDTGMTStephens transportation analysts hold an analyst/industry conference call
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08:42 EDTSLXPSalix shares should be bought on weakness, says Sterne Agee
After Reuters yesterday afternoon reported that Actavis (ACT) plans to make a new merger approach to Allergan (AGN), Sterne Agee believes that Salix's standalone value is $162. The firm expects the shares to reach that level following approval of its Xifaxan IBS-D drug after the February 2015 PDUFA date.
08:31 EDTSLXPSalix announces FDA granted final approval for UCERIS
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07:58 EDTPANWPalo Alto price target raised to $120 from $105 at Pacific Crest
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07:52 EDTPANWPalo Alto has positive catalysts, says Wells Fargo
After meeting with Palo Alto's management, Wells Fargo thinks the company's new endpoint security product could increase its long-term revenue growth by five or six percentage points. The firm expects the company's product revenue to be boosted by an existing customer refresh cycle in 2015, and Wells is confident in the company's service revenue outlook. It raised its price target on the name to $112-$129 from $113-$120 and keeps an Outperform rating on the shares.
07:46 EDTSCORcomScore well positioned for change, says Brean Capital
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06:23 EDTSLXPActavis more inclined to pursue Allergan over Salix, says Citigroup
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October 7, 2014
15:21 EDTSLXPAllergan warms to sale as Actavis plans new approach, Reuters says
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09:24 EDTAOLFormer Yahoo CFO says AOL merger makes 'little sense,' CNBC reports
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08:31 EDTAOLAOL names Dermot McCormack as president of AOL Video and AOL Studios
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07:48 EDTSLXPSalix reinstated with a Buy at Jefferies
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