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Stock Market & Financial Investment News

News Breaks
January 23, 2013
10:09 EDTSNA, SUNS, NFBK, PBF, UTHR, FTK, STRZA, WDAY, QLGC, HRG, EAGL, FISV, ELX, FIS, AVGO, ALLTOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Allot Communications (ALLT) initiated with an Overweight at Barclays... Avago (AVGO) initiated with an Outperform at RBC Capital... Emulex (ELX) initiated with a Neutral at Piper Jaffray... FIS (FIS) initiated with a Buy at UBS... Fiserv (FISV) initiated with a Neutral at UBS... Global Eagle Acquisition (EAGL) initiated with an Outperform at Imperial Capital... Harbinger Group (HRG) initiated with a Buy at Jefferies... Mellanox (MLNX) initiated with an Overweight at Piper Jaffray... QLogic (QLGC) initiated with a Neutral at Piper Jaffray... Starz (STRZA) initiated with a Neutral at ISI Group... Workday (WDAY) initiated with a Neutral at RW Baird... Flotek (FTK) initiated with an Outperform at Barrington... United Therapeutics (UTHR) initiated with a Neutral at Guggenheim... PBF Energy (PBF) initiated with a Neutral at Citigroup... Northfield Bancorp (NFBK) initiated with a Buy at Sterne Agee... Solar Senior Capital (SUNS) initiated with a Buy at Maxim... Snap-On (SNA) initiated with a Neutral at Sidoti.
News For ALLT;AVGO;FIS;ELX;FISV;EAGL;HRG;QLGC;WDAY;STRZA;FTK;UTHR;PBF;NFBK;SUNS;SNA From The Last 14 Days
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September 22, 2014
11:16 EDTUTHRUnited Therapeutics downgraded to Hold from Buy at Standpoint Research
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06:18 EDTAVGOAvago gained significant share in iPhone 6, says Citigroup
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05:28 EDTALLTAllot Communications secures three orders from major cloud providers
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September 19, 2014
09:19 EDTSTRZAEstimates too low for Starz, says Sterne Agee
Sterne Agee believes that Starz's stock is well-positioned to outperform in the next several quarters, as concerns about the name dissipate and sentiment improves due to its The Outlander show. The firm thinks the recent focus on HBO should also benefit Starz, and it keeps a $36 price target and Buy rating on Starz.
08:11 EDTAVGOTriQuint chip among those in iPhone 6 Plus, iFixit reports
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08:07 EDTAVGOAvago average iPhone content rose, says Craig-Hallum
Criag-Hallum believes that Avago has about $5.50 in average content in the iPhone 6/6+, which is up from about $4.00 in average content in the iPhone 5S/5C. The firm sees "minimal risk" to Street estimates for the company's October quarter. It keeps a $100 price target and Buy rating on the shares.
08:03 EDTAVGOInvenSense, NXP, RF Micro chips included in iPhone 6, iFixit reports
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September 16, 2014
09:59 EDTWDAYOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: ACI Worldwide (ACIW) initiated with a Neutral at Sterne Agee... ADP (ADP) initiated with a Market Perform at Bernstein... ANSYS (ANSS) initiated with a Sector Perform at RBC Capital... Accenture (ACN) initiated with a Market Perform at Bernstein... Blackhawk (HAWK) initiated with a Neutral at Sterne Agee... Coca-Cola (KO) initiated with a Market Perform at Cowen... Cognizant (CTSH) initiated with an Outperform at Bernstein... Constellation Brands (STZ) initiated with a Market Perform at Cowen... Dr Pepper Snapple (DPS) initiated with a Market Perform at Cowen... GenCorp (GY) initiated with a Hold at KeyBanc... Global Payments (GPN) initiated with a Neutral at Piper Jaffray... GoPro (GPRO) initiated with a Buy at Cleveland Research... Green Dot (GDOT) initiated with a Neutral at Sterne Agee... Lionsgate (LGF) initiated with a Buy at ISI Group... MEDNAX (MD) initiated with a Neutral at SunTrust... MasterCard (MA) initiated with a Buy at Sterne Agee... Molson Coors (TAP) initiated with an Outperform at Cowen... Monster Beverage (MNST) initiated with a Market Perform at Cowen... NetSuite (N) initiated with an Outperform at RBC Capital... Oracle (ORCL) assumed with a Sector Perform at RBC Capital... PepsiCo (PEP) initiated with an Outperform at Cowen... SAP (SAP) initiated with a Sector Perform at RBC Capital... Teekay (TK) initiated with a Hold at Deutsche Bank... Tesla (TSLA) initiated with a Buy at ISI Group... Visa (V) initiated with a Buy at Sterne Agee... Western Union (WU) initiated with a Neutral at Sterne Agee... Workday (WDAY) initiated with an Outperform at RBC Capital... Yelp (YELP) initiated with a Neutral at RW Baird... Zillow (Z) initiated with an Overweight at Stephens... zulily (ZU) initiated with an Outperform at RW Baird.
September 15, 2014
17:04 EDTPBFPBF Logistics announces first asset acquisition from PBF Energy
PBF Logistics LP (PBFX) and PBF Energy(PBF) announced that the Partnership has entered into an agreement to acquire the Delaware City Heavy Crude Unloading Rack from a subsidiary of PBF for total consideration of $150M. The purchase price payable to PBF will consist of cash of $135M and PBFX limited partner interests of $15M. The drop-down acquisition is expected to close on or about September 30. The asset to be acquired is the newly-commissioned West Rack collocated with PBF Energy’s Delaware City Refinery and will continue to support the refinery going forward. The West Rack is capable of unloading unit trains at a throughput rate of over 40,000 barrels per day. It is equipped with steam and nitrogen facilities to facilitate the unloading of heavy crude oil, primarily originating in Canada, delivered by rail. The West Rack is also capable of discharging light crude oil. Upon closing, the Partnership plans to enter into a seven-year term throughput agreement with subsidiaries of PBF Energy containing a minimum throughput volume commitment of 40,000 barrels per day. The West Rack is expected to contribute approximately $15M of EBITDA in its first full year of operation after the close. Annual maintenance capital expenditures are expected to be approximately $1.25M. The cash consideration for the transaction will be funded by the sale of $30M in U.S. Treasuries that were purchased with proceeds from the Partnership’s May 2014 initial public offering and $105M in borrowings under the Partnership’s revolving credit facility. The number of Partnership common units to be issued to PBF will be based on the volume-weighted average daily closing price for the Partnership’s common units for the preceding 20 trading days, ending two trading days prior to signing the definitive agreement for the acquisition. The terms of the transaction were approved by the Board of Directors of the general partner of the Partnership and its Conflicts Committee, which is composed of independent directors and was advised by Tudor, Pickering, Holt & Co., its financial advisor, and Vinson & Elkins LLP, its legal counsel.
16:31 EDTWDAYWorkday initiated with an Outperform at RBC Capital
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September 10, 2014
17:11 EDTPBFVenezuela's PDVSA seeks Citgo bids in potential $10B deal, Reuters says
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14:21 EDTAVGOAvago mentioned positively at Deutsche Bank
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09:04 EDTSUNSSolar Senior Capital forms first lien loan program in partnership with Voya
Solar Senior Capital Ltd. (SUNS) announces that it has entered into a joint venture agreement to create a First Lien Loan Program with Voya Investment Management. Voya acts as the investment advisor for several wholly owned insurance subsidiaries of Voya Financial, Inc. (VOYA). The joint venture is expected to invest primarily in senior secured term loans to middle market companies predominantly owned by private equity sponsors or entrepreneurs, consistent with Solar Senior’s core origination and underwriting mandate. Solar Senior and Voya have committed to provide $50M and $7.25M, respectively, of capital to the joint venture. In addition, FLLP intends to seek third party financing that is expected to allow the joint venture to utilize leverage up to a ratio of approximately 2.0x debt-to-equity once the portfolio is sufficiently ramped. Solar Senior and Voya expect to begin funding the portfolio with new investments prior to the end of 2014.
06:41 EDTPBFPDVSA aims for preliminary offers for Citgo by September-end, Reuters says
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September 9, 2014
09:32 EDTFISVFiserv expands relationship with South Carolina Federal Credit Union
Fiserv announced that South Carolina Federal Credit Union has renewed its agreement to use the Spectrum account processing platform. In addition to its in-house deployment of Spectrum, South Carolina Federal will add a host of Fiserv solutions including Corillian Online ASP, Mobiliti ASP, Popmoney and CheckFree RXP. In a display of the trust and value it places in Fiserv, the credit union signed a ten-year agreement with Fiserv. The $1.3B South Carolina Federal Credit Union long pursued a technology strategy of implementing “best-of-breed” solutions using a variety of providers; however, this approach ultimately led to an environment of disparate systems that didn’t work well together. This conflicted with the credit union’s objective to create what it calls “LifeSimplified” experiences for its more than 140,000 members. In addition to continuing its commitment to the Spectrum account processing platform, SCFCU selected new value-added solutions. The credit union has also committed to additional Fiserv solutions over the next three years.
09:28 EDTUTHRUnited Therapeutics shares undervalued, says Argus
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