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News Breaks
February 4, 2014
10:00 EDTGASS, LGF, GLYC, ECHO, IMAX, BIN, LOCK, CJES, GWPH, SYMC, MSG, KFX, AMCX, STRM, KINOn The Fly: Analyst Initiation Summary
AMC Networks (AMCX) initiated with a Buy at Topeka... C&J Energy (CJES) initiated with a Buy at Jefferies... GlycoMimetics (GLYC) initiated with a Buy at Stifel... Kofax (KFX) initiated with a Buy at Craig-Hallum... LifeLock (LOCK) initiated with a Buy at Sterne Agee... Lionsgate (LGF) initiated with a Buy at Topeka... Madison Square Garden (MSG) initiated with a Buy at Topeka... Progressive Waste (BIN) initiated with an Underperform at Macquarie... StealthGas (GASS) initiated with an Overweight at Barclays... Symantec (SYMC) initiated with a Neutral at Sterne Agee... IMAX (IMAX) initiated with a Buy at CRT Capital... Kindred Biosciences (KIN) initiated with a Buy at Roth Capital... GW Pharmaceuticals (GWPH) initiated with an Outperform at Leerink... Echo Global (ECHO) initiated with a Hold at BB&T... Streamline Health (STRM) initiated with a Buy at Lake Street.
News For AMCX;CJES;GLYC;KFX;LOCK;LGF;MSG;BIN;GASS;SYMC;IMAX;KIN;GWPH;ECHO;STRM From The Last 14 Days
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February 4, 2016
07:34 EDTMSGMadison Square Garden reports Q2 EPS $1.74, consensus $1.23
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February 3, 2016
18:53 EDTLGFLionsgate restarts talks to acquire Starz, Bloomberg says
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15:50 EDTLGFLionsgate restarts talks with Starz on possible acquisition, Bloomberg reports
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February 2, 2016
08:06 EDTLGFLionsgate risk/reward attractive, says Bernstein
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February 1, 2016
12:27 EDTSYMCOptions with increasing put volume
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10:08 EDTSYMCHigh option volume stocks
High option volume stocks: NOK HLT NCLH DF GALE VMW DPS SYY SYMC PGR
07:35 EDTIMAXIMAX, Discovery enter global distribution, marketing partnership
IMAX (IMAX) announced a distribution and marketing partnership, which provides Discovery Communications' (DISCA, DISCB, DISCK) flagship network Discovery Channel with 18 months of exclusive paid global television rights for up to 10 IMAX documentary films to be released through the IMAX Original Film Fund, following the titles' theatrical release across the IMAX institutional theatre network. The alliance marks IMAX's first television distribution agreement for original content. Under the partnership agreement, Discovery Channel will air IMAX documentaries worldwide following their theatrical IMAX release, and consult on development, production and marketing. The IMAX Original Film Fund was established in 2014 to deliver new educational documentaries for the Company's institutional partners, which include many of the world's most prestigious museums, science centers and aquariums. The Fund will finance an ongoing supply of educational documentaries that push the envelope of traditional documentary filmmaking for a new generation of moviegoers.
January 29, 2016
16:11 EDTSYMCSymantec on track to return over $4B to shareholders by March 2017
Symantec is on track to return more than $4B in capital to its shareholders by the end of March 2017. This capital return includes a $500M accelerated share repurchase completed in January 2016; $1.8B remaining at the end of Q3 from its previously announced share repurchase program; and the additional $2B of capital return that the board announced.
16:09 EDTSYMCSymantec receives $5.3B in connection with completion of Veritas sale
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12:53 EDTLGFBox Office Battle: 'Kung Fu Panda 3' expected to kick 'Revenant' from top spot
DreamWorks Animation's (DWA) "Kung Fu Panda 3" featuring Jack Black is expected to break the record for the largest January opening for an animated feature, topping the opening of "The Nut Job" in 2014. The first two films in the "Kung Fu Panda" franchise took in $60.2M and $47.6M, respectively, in their opening weekends and grossed a total of nearly $1.3B worldwide. With a strong base of Po the Panda fans and the popularity of a recent TV show, conservative early estimates say "Panda 3" is expected to bring in $35M-$50M. Also opening this weekend are Disney's (DIS) "The Finest Hours," starring Chris Pine, and Open Road Films' "Fifty Shades of Black," starring Marlon Wayans. "The Finest Hours" may disappoint, with expectations topping out at $10M in its opening weekend. "Fifty Shades of Black," meanwhile, is the latest spoof movie from the team of Wayans and Michael Tiddes from "Haunted House" fame. The last film from Wayans had an opening weekend of $8.8M, and this one is currently expected to take in a similar amount. Both films will battle with Fox's (FOX, FOXA) survival story and Oscar contender "The Revenant," starring Leonardo Dicaprio, and Disney's (DIS) "Star Wars: The Force Awakens" for spots in the top five. "The Revenant" and "Star Wars" should each take in $9M-$12M even as they continue to lose theaters this coming weekend. Other publicly traded companies involved in filmmaking include Lionsgate (LGF), Comcast (CMCSA, CMCSK), and Sony (SNE).
10:56 EDTSYMCIT security stocks rise after Fortinet meets expectations
The shares of a number of IT security companies are rising after one of the companies in the sector, Fortinet (FTNT), reported in-line fourth quarter results last night. JPMorgan and RBC Capital were upbeat on the company's outlook. WHAT'S NEW: Fortinet reported Q4 EPS of 18c, in line with analysts' consensus outlook. The company's revenue was also in-line with the consensus outlook, while its billings jumped 35% versus the same period a year earlier. Moreover, Fortinet's fiscal 2016 guidance also came in near consensus estimates. ANALYST REACTION: Fortinet's results show that it is gaining market share, especially overseas and among U.S. small and medium businesses, JPMorgan analyst Sterling Auty stated. Additionally, the company's margins look set to reach about 15% in fiscal 2016, up from 13% the previous year, and its free cash flow should jump 33% in fiscal 2016, the analyst predicted. He kept a $54 price target and Overweight rating on the shares, saying the quarter should bring a "welcomed lift" following the recent selloff in shares. Fortinet's guidance suggests that it will have more leverage than expected in fiscal 2016, but its outlook is also "somewhat conservative," RBC Capital analyst Dan Bergstrom wrote. Fortinet's stock is relatively cheap versus its peers and its historical norms, the analyst believes. However, he kept a $32 price target and Sector Perform rating on the shares. WHAT'S NOTABLE: Yesterday morning IT security company Check Point (CHKP) reported stronger than expected Q4 results and provided in-line fiscal 2016 EPS guidance, excluding certain items. Last night IT security company Proofpoint (PFPT) reported in-line Q4 results but provided lower than expected fiscal 2016 EPS guidance. PRICE ACTION: In late morning trading, Fortinet climbed 6% to $28. Other IT security companies also advanced, with Palo Alto (PANW) surging 7.5%, Barracuda (CUDA) gaining 2.5% to $10.60, FireEye (FEYE) rising 1.5% to $14, Check Point adding 1% to $77.70 and Symantec (SYMC) rising 1.2% to $129.75.
January 28, 2016
07:41 EDTIMAXIMAX to release Russian-language film in Russia and other territories
IMAX announced that the Russian-language film, Attraction, from Art Pictures Studio and Vodorod Studios will be digitally re-mastered in the immersive IMAX format and released in IMAX theatres in Russia and select international markets starting Jan. 27, 2017, marking the fourth Russian-language film to be released in IMAX,
January 26, 2016
19:54 EDTIMAXIMAX announces Spider-Man to be released in IMAX 3D Theatres
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09:11 EDTKINKindred's study shows higher weight increase in cats treated with KIND-010
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January 25, 2016
17:01 EDTLOCKLifeLock names Mike Dean as Chief Strategy Officer
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14:29 EDTBINProgressive Waste upgraded to Buy from Hold at Stifel
12:08 EDTIMAX'Star Wars: The Force Awakens' crosses $200M mark at IMAX locations
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08:07 EDTBINProgressive Waste appoints Dan Pio as CEO
Progressive Waste Solutions (BIN) announced that Dan Pio, EVP and Chief Integration Officer, has been appointed CEO, effective Friday, January 29. Joseph Quarin is stepping down from the role of president and CEO and from the company's board to pursue other opportunities. The CEO succession follows Progressive Waste Solutions' announcement that Quarin planned to step down during the integration period of the company's proposed combination with Waste Connections (WCN).
January 24, 2016
18:35 EDTMSGMadison Square Garden executives caught in ticket scalping probe, NY Post says
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17:55 EDTLGF'The Revenant' tops box office as 'Ride Along 2' sags
"The Revenant" clawed past "Ride Along 2" as this weekend's snow storm left several box office newcomers grasping for ticket sales. WEEKEND LEADER: Fox's (FOX, FOXA) "The Revenant" grossed $16M domestically for the weekend of January 24. The Leonardo DiCaprio-led survival Western was expected to take $19M-$21.6M, though results may have been dampened by the East Coast winter storm. BOX OFFICE RUNNERS-UP: Disney's (DIS) "Star Wars: The Force Awakens" earned $14.3M and now stands at $1.94B globally. Comcast (CMCSA, CMCSK) subsidiary Universal's "Ride Along 2" dipped to $13M against expectations for $18M-$18.7M, with critics and audiences generally lukewarm on the film despite its $34M open last weekend. Rounding out the weekend's top five were Lionsgate's (LGF) "Dirty Grandpa" and STX Entertainment's "The Boy," with the two newcomers debuting at a respective $11.5M and $11.3M.
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