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December 12, 2012
10:00 EDTPC, ABM, DDD, STL, ACI, CSTR, TW, PB, MSFT, ANR, LXP, TTWO, ALNYOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Alnylam (ALNY) upgraded to Overweight from Neutral at Piper Jaffray... Prosperity Bancshares (PB) upgraded to Outperform from Neutral at RW Baird... Sterling Bancorp (STL) upgraded to Market Perform from Underperform at BMO Capital... Take-Two (TTWO) upgraded to Overweight from Neutral at Piper Jaffray... Towers Watson (TW) upgraded to Outperform from Neutral at RW Baird... 3D Systems (DDD) upgraded to Neutral from Underweight at JPMorgan... Lexington Realty (LXP) upgraded to Buy from Hold at Stifel Nicolaus... Coinstar (CSTR) upgraded to Outperform from Market Perform at Northland Securities... ABM (ABM) upgraded to Buy from Hold at KeyBanc... Alpha Natural (ANR) upgraded to Accumulate from Hold at Tudor Pickering... Arch Coal (ACI) upgraded to Buy from Accumulate at Tudor Pickering... Panasonic (PC) upgraded to Overweight from Equal Weight at Barclays... Microsoft (MSFT) upgraded to Buy from Accumulate at Standpoint Research.
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November 17, 2015
06:16 EDTMSFTMicrosoft turns around flawed security technology, NY Times says
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November 16, 2015
17:02 EDTMSFTPoint72 added to lululemon position, subtracted from Netflix position
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16:00 EDTMSFTOptions Update; November 16, 2015
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November 15, 2015
19:29 EDTMSFTMicrosoft delays, possibly kills tool to translate Android apps, Re/code says
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November 13, 2015
16:00 EDTMSFTOptions Update; November 13, 2015
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09:35 EDTMSFTActive equity options trading on open
Active equity options trading on open: AAPL CSCO FB BAC BABA MSFT NFLX INTC JCP AMZN C
09:03 EDTDDD3D Systems announces two healthcare collaborations
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08:01 EDTTWWillis Group to host special shareholder meeting
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08:00 EDTTWTowers Watson to host special shareholder meeting
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07:59 EDTTWWillis Group urges Willis, Towers Watson holders to support merger
Willis Group (WSH) urged its shareholders, and those of Towers Watson (TW), to vote "FOR" the proposed merger of equals between the two firms. For Willis shareholders, the proposed deal further strengthens the powerful standalone Willis value proposition. The proposed deal enables Willis shareholders to participate in the significant economic opportunity generated by the planned combination. For Towers Watson investors, the deal accelerates the firm's publicly stated long-term strategy. It delivers value to Towers Watson shareholders through clear, compelling synergies and new client opportunities. For Towers Watson shareholders, as Towers Watson has stated, the combination is expected to result in projected cash net income accretion of an estimated 45% by calendar year 2018. This transaction was unanimously agreed upon by both boards of directors. Willis will contribute 55.8% of the projected combined EBITDA in 2016 excluding synergies, is enabling a significant portion of the merger synergies through its Irish domicile, and its CEO and CFO will not hold those roles in the new company. Both Willis and Towers Watson investors will benefit from the significant incremental value the two companies expect to create together. As previously disclosed, the merger can create more than $375M in incremental annual revenue in the healthcare exchange, large market property & casualty insurance broking, and global benefits consulting business. The companies also project approximately $100M-$125M in annual cost savings and $75M in annual tax savings.
06:27 EDTMSFTMicrosoft brings major updates to Xbox One, WSJ reports
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05:40 EDTTTWOOctober NPD video game software declined 3%, says Piper Jaffray
Piper Jaffray analyst Michael Olson says October NPD video game software declined 3% year-over-year, with Microsoft's (MSFT) Halo 5 being the top title by a "wide margin." Enough next generation hardware has now been sold to drive sustainable software growth on a quarterly basis, Olson tells investors in a research note. He maintains Overweight ratings on Activision Blizzard (ATVI), Electronic Arts (EA), GameStop (GME) and Take-Two (TTWO).
November 12, 2015
17:41 EDTMSFTValueAct discloses sale of 18.65M shares of Microsoft
In a regulatory filing, ValueAct disclosed the sale of 18.65M shares of Microsoft.
16:00 EDTMSFTOptions Update; November 12, 2015
iPath S&P 500 VIX Short-Term Futures up 1.28 to 20.18. Option volume leaders: GE AAPL MNKD XOM BAC FB SUNE CSCO NFLX SYF BABA MSFT
13:24 EDTMSFTEarnings Watch: Cisco seeks to break out of trading rut with Q1 report
Cisco Systems (CSCO) is scheduled to report results of its fiscal first quarter after the market close on Thursday, November 12 with a conference call scheduled for 4:30 pm ET. Cisco, a member of the Dow Jones Industrial Average, sells Internet protocol-based networking and other products related to the communications and IT industry and provides related services. EXPECTATIONS: Analysts are looking for earnings per share of 56c on revenue of $12.65B, according to First Call. The consensus range for EPS is 55c-59c on revenue of $12.55B-$12.81B. Along with its quarterly report, Cisco guided to Q1 EPS of 55c-57c and said it expects its revenue to increase 2%-4% year over year. LAST QUARTER: On August 12, Cisco reported fourth quarter EPS of 59c on revenue of $12.8B, beating consensus estimates of 56c and $12.65B for EPS and revenue, respectively. NEWS: On its Q4 earnings conference call, Cisco said that it was looking at acquisitions at the right price, particularly in areas like software and security. On August 31, Apple (AAPL) and Cisco announced a partnership to build a "fast lane" for iOS business users by optimizing Cisco networks for iOS devices and apps, integrating iPhone with Cisco enterprise environments and providing unique collaboration on iPhone and iPad. The next day, Cisco was among multiple other companies, including Amazon (AMZN), Google (GOOG), Intel (INTC), Microsoft (MSFT), Mozilla, and Netflix (NFLX), announcing the formation of the Alliance for Open Media to build next-generation media formats, codecs, and technologies in the public interest. On September 3, Business Insider reported that people at Cisco still though that chairman John Chambers was running the show as chief executive officer after appointing Chuck Robbins to that role last May. On September 15, Mandiant, a FireEye (FEYE) subsidiary, said in a blog post that researchers discovered previously unknown attacks on certain routers and that such attacks replace the operating system used in Cisco equipment. About a week later, the Wall Street Journal reported that Cisco was aiming to strengthen its business in China by joining forces with Inspur group, a move which was confirmed on September 24. On October 29, Cisco announced its intention to acquire 1 Mainstream. CNBC later reported that the company paid $100M-$150M to acquire 1 Mainstream. On November 9, Ericsson (ERIC) and Cisco announced a global business and technology partnership to "create the networks of the future." The companies said that the strategic partnership will be a key driver of growth and value for the next decade, with each company benefiting from incremental revenue in calendar year 2016 and expected to ramp to $1B or more for each by 2018. STREET RESEARCH: On August 17, Morgan Stanley downgraded Cisco to Equal Weight from Overweight and maintained a $30 price target on the stock, saying it did not believe improved growth is "secular" and anticipates growth will revert to GDP like levels as the upgrade cycle concludes. Wells Fargo said on August 28 that a 10% selloff in communication tech stocks, including Cisco, had created an attractive buying opportunity. Bernstein said a week later that Cisco, Juniper (JNPR), and F5 Networks (FFIV) should be bought on wider macro economic weakness. On October 6, Citi initiated coverage of Cisco with a Buy rating and $30 price target. A week later, Barclays initiated coverage of Cisco with an Overweight rating and a $32 price target. On November 9, RBC Capital maintained an Outperform rating and $33 price target on Cisco, saying it expects the company to report slightly better than expected results. The next day, SunTrust maintained a Buy rating on Cisco, saying its partnership with Ericsson was a positive and should strengthen Cisco's service provider business. PRICE ACTION: In afternoon trading ahead of tonight's report, Cisco shares were up 0.5% to $27.97. In the last three months, Cisco shares are fractionally higher and virtually unchanged when discounting this afternoon's slight rise.
08:30 EDTMSFTMicrosoft volatility flat as shares trade near 14-year high
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08:03 EDTTWTowers Watson urges shareholders to support Willis Group merger
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06:39 EDTMSFTMicrosoft unveils plan to protect European data from U.S. overreach, FT says
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November 11, 2015
10:46 EDTALNYAlnylam and The Medicines Co. reports trial results with ALN-PCSsc
Alnylam (ALNY) and The Medicines Company (MDCO) reported results from their ongoing Phase 1 clinical trial with ALN-PCSsc in an oral presentation at the American Heart Association Scientific Sessions 2015. ALN-PCSsc is an investigational RNAi therapeutic targeting PCSK9 - a genetically validated protein regulator of LDL receptor metabolism - being developed for the treatment of hypercholesterolemia. As reported previously, subcutaneous administration of ALN-PCSsc resulted in an up to 83% lowering of LDL-C, with an up to 64 +/- 5 percent mean maximum reduction, comparable to published results for anti-PCSK9 MAbs. In new results, the effects of ALN-PCSsc were found to be highly durable, with clinically significant and clamped reductions in LDL-C, supportive of a potential bi-annual subcutaneous dose regimen. Specifically, an up to 53 percent maximal and 47% least squares mean reduction in LDL-C was achieved at day 180 after just a single, low volume injection. In addition, ALN-PCSsc was shown to reduce a number of atherogenic lipids, including lipoprotein - or "Lp" - and total cholesterol, which are associated with increased risk of cardiovascular disease. ALN-PCSsc was generally well tolerated with no clinically significant drug-related adverse events. The development leadership of ALN-PCSsc has now transferred from Alnylam to The Medicines Company, who expects to initiate the ORION-1 Phase 2 study by the end of 2015.
06:43 EDTTWTowers Watson, Willis merger is 'highly strategic,' says Piper Jaffray
Piper Jaffray analyst George Tong calls the planned merger of Towers Watson (TW) and Willis Group (WSH) "highly strategic." The merger, scheduled to go to a shareholder vote on November 18, will drive earnings growth acceleration and valuation multiple expansion, Tong tells investors in a research note. He believes the combined company would compete more effectively against AON Corp. (AON). Tong reiterates an Overweight rating on Towers with a $152 price target.
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