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Stock Market & Financial Investment News

News Breaks
September 24, 2012
10:25 EDTSQNM, PROV, MRX, FLS, CCI, ATU, VECO, RBC, NICE, IEX, FCF, BAX, AKS, X, QCOR, MU, GRC, FNSR, ATML, WBSOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AK Steel (AKS) downgraded to Sell from Neutral at Citigroup... Actuant (ATU) downgraded to Hold from Buy at Jefferies... Atmel (ATML) downgraded to Neutral from Buy at UBS... Baxter (BAX) downgraded to Hold from Buy at Deutsche Bank... Crown Castle (CCI) downgraded to Neutral from Outperform at Macquarie... Finisar (FNSR) downgraded to Market Perform from Outperform at Raymond James... First Commonwealth (FCF) downgraded to Market Perform at Keefe Bruyette... Flowserve (FLS) downgraded to Hold from Buy at Jefferies... Gorman-Rupp (GRC) downgraded to Underperform from Hold at Jefferies... IDEX Corp. (IEX) downgraded to Hold from Buy at Jefferies... Medicis (MRX) downgraded to Neutral from Positive at Susquehanna... Micron (MU) downgraded to Sector Perform from Outperform at Pacific Crest... NICE Systems (NICE) downgraded to Sector Perform from Outperform at RBC Capital... Providen (PROV) downgraded to Market Perform from Outperform at Raymond James... Questcor (QCOR) downgraded to Market Perform from Outperform at Leerink... Regal-Beloit (RBC) downgraded to Hold from Buy at Jefferies... Sequenom (SQNM) downgraded to Neutral from Overweight at Piper Jaffray... U.S. Steel (X) downgraded to Neutral from Buy at Citigroup... Veeco (VECO) downgraded to Sell from Neutral at Goldman... Webster Financial (WBS) downgraded to Underweight from Equal Weight at Morgan Stanley.
News For AKS;ATU;ATML;BAX;CCI;FNSR;FCF;FLS;GRC;IEX;MRX;MU;NICE;PROV;QCOR;RBC;SQNM;X;VECO;WBS From The Last 14 Days
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March 18, 2015
11:25 EDTMUStocks with call strike movement; SWKS MU
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09:36 EDTMUActive equity options trading on open
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08:13 EDTATUActuant cuts FY15 EPS view to $1.65-$1.75 from $1.85-$2.00
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08:08 EDTMUSamsung postponed DRAM equipment orders, says JPMorgan
JPMorgan says its research indicates Samsung has recently postponed a "meaningful" level of DRAM equipment orders by up to two quarters. The firm views the push outs as evidence of discipline in the DRAM supply chain and a positive for Micron (MU). It believes the DRAM pricing environment should stabilize starting in Q2 and recommends buying shares of Micron at current levels. It has an Overweight rating on the name with a $40 price target.
08:08 EDTATUActuant sees Q3 EPS 52c-57c, consensus 60c
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08:07 EDTATUActuant revises FY15 adjusted EPS $1.65-$1.75, consensus $1.80
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08:02 EDTATUActuant board approves additional 7M share repurchase program
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08:01 EDTATUActuant reports Q2 EPS 28c ex-impairment charge, consensus 30c
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March 17, 2015
15:18 EDTATUNotable companies reporting before tomorrow's open
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11:16 EDTMUMicron falls, levels to watch
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10:45 EDTXStocks with call strike movement; X BBRY
U.S. Steel (X) March 24 call option implied volatility increased 8% to 52, BlackBerry (BBRY) September 11 call option implied volatility decreased 2% to 50 according to IVolatility.
08:00 EDTMUMicron FY16 EPS estimate lowered at RBC Capital
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07:05 EDTSQNMSequenom elects Kenneth Buechler as Chairman of the Board
Sequenom elected Kenneth Buechler as Chairman of the Board, effective April 1, 2015. Buechler succeeds Harry Hixson who will retire from the position effective March 31 after 11 years of service. Incoming chairman, Dr. Buechler, has served on the board of directors since December 2009. Prior to joining Sequenom's board, he served as President and Chief Scientific Officer of Biosite Incorporated, which he co-founded.
March 16, 2015
12:42 EDTXU.S. Steel trades lower with peers, levels to watch
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12:39 EDTAKS, XSteels stocks lower after report of rising China exports, analyst note
Steel stocks are lower after a Wall Street Journal report on increasing Chinese steel exports and an analyst note that lowered price targets on the sector. WHAT'S NEW: A Wall Street Journal report from Sunday night pointed out that China's steel exports rose 63% to 9.2M tons in January from a year earlier. China produces as much steel as the rest of the world combined and as the country's growth slows it is shipping its excess steel overseas, resulting in lower prices and spurring steel producers around the globe to seek government protection. ANALYST VIEW: In a note to investors, Jefferies said steel fundamentals stayed challenging throughout the first quarter and the firm lowered its price targets on a number of names in the sector to account for its reduced estimates. Jefferies lowered its price target on U.S. Steel (X) to $21 from $26, cut its price target on Schnitzer Steel (SCHN) to $17 from $20, reduced its price target on Nucor (NUE) to $57 from $61, and trimmed its target on AK Steel (AKS) to $3.75 from $4.75. Jefferies noted that a majority of its contacts expect steel prices to trough sometime in the second quarter and the firm said it believes "mini-mill" producers like Steel Dynamics (STLD) and Nucor are best positioned in the group. PRICE ACTION:In midday trading, United States Steel is down 1.24%, AK Steel is lower by 2%, Schnitzer Steel Industries is down 4.3%, Steel Dynamics is down 0.96%, and Nucor is up fractionally.
11:49 EDTX, AKSChina steel exports set to rise from last year's level, WSJ says
As China's economy slows it is exporting its excess steel in greater amounts and is causing a backlash from other steel producers who are seeking government protection from falling prices, says the Wall Street Journal. China's steel exports in January were up 63% to 9.2M tons from a year earlier, added the Wall Street Journal. Publicly traded companies in the space include U.S. Steel (X), AK Steel (AKS), Steel Dynamics (STLD) and Nucor Corporation (NUE). Reference Link
09:15 EDTBAXCTI BioPharma shares should be bought on weakness, says Roth Capital
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08:24 EDTMUMicron pricing pressure to ease in 2H15, says Deutsche Bank
Deutsche Bank lowered its estimates on Micron to reflect near-term PC DRAM weakness, but the firm expects pricing pressure to ease in 2H15, driven by seasonal PC build, higher mobile content and a DDR4 upgrade cycle. The firm thinks the company will have a number of positive catalysts in 2016, and it keeps a $40 price target and Buy rating on the shares.
08:11 EDTX, AKSSteel seen as likely to bottom in Q2 after weak Q1, says Jefferies
Jefferies said steel fundamentals stayed challenging throughout Q1 and the firm lowered its price targets on a number of names in the sector to account for its reduced estimates. Jefferies lowered its price target on U.S. Steel to $21 from $26, cut its price target on Schnitzer Steel (SCHN) to $17 from $20, reduced its price target on Nucor (NUE) to $57 from $61 and trimmed its target on AK Steel to $3.75 from $4.75. Jefferies noted that a majority of it contacts expect steel prices to trough sometime in Q2 and the firm said it believes "mini-mill" producers like Steel Dynamics (STLD) and Nucor are best positioned in the group.
05:40 EDTSQNMIllumina files patent infringement suit in UK regarding NIPT patents
Illumina (ILMN) announced that it and its wholly-owned subsidiary, Verinata Health have filed a patent infringement suit against Premaitha Health in the High Court of Justice, Chancery Division, Patents Court in the United Kingdom. Illumina is seeking all available remedies, including damages and injunctive relief. The patents asserted are European Patent 0 994 963 B2 and European Patent 1 981 995 B1, which are exclusively licensed to Illumina from Sequenom (SQNM), and The Board of Trustees of Leland Stanford Junior University, respectively. Stanford is joined in the suit as a necessary party because it is the registered owner of the European Patent 1 981 995 B1. The patents are directed to using cell-free fetal DNA for non-invasive prenatal testing. The suit accuses Premaithas IONA Test of infringement, including its use of next-generation sequencing to analyze cell-free fetal DNA from a sample of maternal blood.
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