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April 1, 2014
10:00 EDTPOT, ARE, ECA, BEAM, BGC, CLI, OAS, ALK, INVN, MX, CLHOn The Fly: Analyst Downgrade Summary
Alaska Air (ALK) downgraded to Equal Weight from Overweight at Evercore... Beam (BEAM) downgraded to Hold from Buy at Stifel... Clean Harbors (CLH) downgraded to Hold from Buy at KeyBanc... Oasis Petroleum (OAS) downgraded to Hold from Buy at Deutsche Bank... Encana (ECA) downgraded to Hold from Accumulate at Tudor Pickering... MagnaChip (MX) downgraded to Hold from Buy at Chardan... Mack-Cali Realty (CLI) downgraded to Hold from Buy at KeyBanc... Alexandria Real Estate (ARE) downgraded to Neutral from Buy at Citigroup... InvenSense (INVN) downgraded to Perform from Outperform at Oppenheimer... General Cable (BGC) downgraded to Neutral from Buy at DA Davidson... Potash (POT) downgraded to Hold from Buy at Cantor.
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October 13, 2015
08:42 EDTINVNInvenSense coverage transferred with a Buy at Rosenblatt
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08:00 EDTPOTPotash upgraded on potash pricing discipline at Bernstein
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07:15 EDTALKAlaska Air downgraded to Hold from Buy at Evercore ISI
Evercore ISI downgraded Alaska Air to Hold citing valuation and limited upside to its $82 price target.
05:36 EDTAREAlexandria Real Estate upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Anthony Paolone upgraded Alexandria Real Estate to Overweight saying the company's development pipeline can be funded with no incremental common equity. Alexandria's development pre-leasing is "excellent," Paolone tells investors in a research note. He raised his price target for shares to $106 from $97.
October 12, 2015
11:29 EDTINVNBattleground: Analysts diverge on Apple with new iPhone forecasts
Two research firms had very different views on the outlook for Apple's (AAPL) iPhone sales today. Citing "surprisingly robust" demand in the U.S. and China" and "record iPhone share gains," Morgan Stanley raised its fiscal 2016 iPhone unit growth estimate to up 7% from up 3%. Meanwhile, Pacific Crest estimates that 67M iPhones will be shipped in the fourth quarter, versus the consensus outlook of 76M. BULLISH TAKE: After conducting surveys about smartphones in the U.S. and China, Morgan Stanley analyst Katy Huberty raised her fiscal 2016 iPhone unit growth estimate to 7% from 3%. Moreover, iPhone unit growth could realistically reach 12% in fiscal 2016 in a bullish scenario, the analyst stated. The percentage of U.S. consumers who expect to buy a smartphone over the next 12 months has risen compared with a year ago, Huberty reported. Meanwhile, China, where consumers replace their smartphones more often, is becoming a bigger part of the global smartphone market, she stated. Additionally, Apple's share of the high end smartphone market in China should increase 16 percentage points, while its share of the U.S. smartphone market should increase four percentage points, the analyst estimated. She raised her price target on Apple to $162 from $155 and kept an Overweight rating on the shares. BEARISH TAKE: After conducting checks with iPhone component makers, Pacific Crest analyst John Vinh reported that Apple, "in response to disappointing sales," had reduced its component orders for Q4 by about 15%. Based on his conversations with carriers, Vinh believes that initial sales of Apple's iPhone 6s have been below expectations. The analyst expects Q4 iPhone sales to come in at 67M versus the consensus estimate of 76M. WHAT'S NOTABLE: Vinh trimmed his estimates on iPhone component makers Analog Devices (ADI), ARM Holdings (ARMH), Avago (AVGO), InvenSense (INVN), Qorvo (QRVO), Skyworks (SWKS), and Synaptics (SYNA). However, the analyst is upbeat on the longer term outlook for ARM Holdings, Avago and Skyworks and recommends buying those names on "any meaningful pullbacks." In conjunction with her note, Huberty recommended that investors own the shares of iPhone component makers Qualcomm (QCOM), Sony (SNE) and ARM Holdings, as well as those of SanDisk (SNDK), which develops flash memory used in the iPhone. PRICE ACTION: In late morning trading, Apple was flat near $112 per share.
09:53 EDTCLIMack-Cali Realty announces lease agreement on Jersey City waterfront
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07:59 EDTINVNEstimates lowered on iPhone component makers at Pacific Crest
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October 9, 2015
12:04 EDTPOTUSDA cuts U.S. corn, soy acerage estimates
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08:36 EDTECAEncana price target raised to $12 from $10 at BMO Capital
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October 8, 2015
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06:42 EDTECAEncana agrees to sell DJ Basin assets for $900M
Encana announced that its wholly-owned subsidiary, Encana Oil & Gas, has reached an agreement to sell its Denver Julesburg, or DJ, Basin assets in Colorado to a new entity 95% owned by Canada Pension Plan Investment board and 5% by The Broe Group. Total consideration to Encana under the transaction is approximately $900M. Encana will use the cash proceeds to further strengthen its balance sheet and create greater flexibility in this market environment. When combined with net proceeds from previously announced asset sales, cash proceeds from divestitures in 2015 will total approximately $2.7B. The company expects to have reduced its net debt in 2015 by approximately $3B by year-end.
October 7, 2015
10:01 EDTPOTOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AllianceBernstein (AB) downgraded to Neutral from Buy at BofA/Merrill... Baidu (BIDU) downgraded to Underperform from Hold at Daiwa... Brinker (EAT) downgraded to Negative from Mixed at OTR Global... CBIZ (CBZ), Inc. downgraded to Equal-Weight from Overweight at First Analysis... First Majestic (AG) downgraded to Hold from Buy at Desjardins... Marks & Spencer (MAKSY) downgraded to Neutral from Overweight at JPMorgan... Nu Skin (NUS) downgraded on negative preannouncement, China headwinds at Stifel... Old Dominion (ODFL) downgraded to Neutral from Buy at Citi... PMC-Sierra (PMCS) downgraded to Hold from Buy at Craig-Hallum... Parkway Properties (PKY) downgraded to Market Perform from Outperform at Wells Fargo... Phillips 66 (PSX) downgraded to Hold from Buy at Deutsche Bank... Potash (POT) downgraded to Hold from Buy at HSBC... Radware (RDWR) downgraded to Neutral on execution issues at Buckingham... Sensata (ST) downgraded to Neutral from Buy at Citi... Tenaris (TS) downgraded to Underperform from Neutral at Credit Suisse... Tesla (TSLA) downgraded at Baird on Model X timing uncertainty.
07:58 EDTPOTPotash downgraded to Hold from Buy at HSBC
HSBC downgraded Potash to Hold and lowered its price target to $24.75 from $37.75. Analyst Yonah Weisz said Potash has an uncertain strategy following its decision to walk away from the K+S bid at a time of deteriorating pricing and demand in potash markets.
October 5, 2015
05:13 EDTPOTPotash withdraws K+S Proposal
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October 2, 2015
12:01 EDTALKAlaska Air reports September traffic up 10%
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October 1, 2015
10:32 EDTPOTBernstein U.S. chemicals analysts hold an analyst/industry conference call
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September 30, 2015
08:32 EDTBGCCastlight Health awarded national contract by General Cable
Castlight Health (CSLT) announced that General Cable (BGC) has selected the Castlight EHM platform to help the company tackle ever-rising healthcare costs and engage employees to become healthcare consumers. As part of this agreement, General Cable plans to: Partner with their employees to tackle increasing healthcare costs; Equip employees with Castlight, giving them a personalized experience to review and understand their healthcare benefits and choices; Gain real-time engagement and utilization insights to optimize health benefit programs.
07:07 EDTBGCDeutsche Bank to hold a conference
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September 29, 2015
09:29 EDTOASDeutsche Bank to hold a conference
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08:33 EDTAREAlexandria Real Estate announces bluebird bio executed lease
Alexandria Real Estate (ARE) Equities announced that bluebird bio (BLUE) executed a 10-year lease for approximately 253,000 rentable square feet at 60 Binney Street at the Alexandria Center at Kendall Square campus. The lease encompasses the entire 60 Binney Street building with the exception of a ground-floor retail suite. With the relocation of its headquarters to 60 Binney Street, bluebird bio, a clinical-stage biotechnology company committed to developing potentially transformative gene therapies for severe genetic and rare diseases and T cell-based immunotherapies, will be expanding its presence in Cambridge to support the company's continued growth. The 60 Binney Street project, which is targeting LEED Gold Certification, is expected to be delivered in late 2016.
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