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Stock Market & Financial Investment News

News Breaks
June 27, 2014
09:50 EDTANAD, SSL, QLTI, MTW, LHO, HFC, OGZPY, COV, APD, VRSNOn The Fly: Analyst Downgrade Summary
Today noteworthy downgrades include: ANADIGICS (ANAD) downgraded to Hold from Buy at Needham... Air Products (APD) downgraded to Equal Weight from Overweight at Barclays... Covidien (COV) downgraded to Neutral from Buy at BTIG... Gazprom (OGZPY) downgraded to Equal Weight from Overweight at Barclays... HollyFrontier (HFC) downgraded to Neutral from Outperform at Credit Suisse... LaSalle Hotel (LHO) downgraded to Hold from Buy at MLV & Co.... Manitowoc (MTW) downgraded to Market Perform from Outperform at BMO Capital... QLT Inc. (QLTI) downgraded to Sector Perform at RBC Capital... Sasol (SSL) downgraded to Equal Weight from Overweight at Barclays... VeriSign (VRSN) downgraded to Market Perform from Outperform at Wells Fargo.
News For ANAD;APD;COV;OGZPY;HFC;LHO;MTW;QLTI;SSL;VRSN From The Last 14 Days
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October 23, 2014
15:30 EDTVRSNNotable companies reporting after market close
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08:11 EDTMTWManitowoc remains Overweight rated at Morgan Stanley
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07:02 EDTLHOLaSalle Hote shares poised to outperform, says Stifel
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October 22, 2014
16:17 EDTLHOLaSalle Hotel raises FY14 adjusted FFO view to $2.56-$2.60 from $2.44-$2.54
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16:16 EDTLHOLaSalle Hotel sees Q4 adjusted FFO 57c-61c, consensus 58c
Sees Q4 RevPAR to increase 7%-9% and hotel EBITDA margins to range from an increase of 175 to 250 basis points relative to the same prior year period.
16:15 EDTLHOLaSalle Hotel reports Q3 RevPAR up 11.5% to $212.98
Room revenue per available room, or RevPAR, for the quarter increased 11.5% to $212.98, as a result of a 10.2% increase in average daily rate to $242.25 and a 1.1% improvement in occupancy to 87.9%.
16:14 EDTLHOLaSalle Hotel reports Q3 adjustecd FFO 85c, consensus 79c
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10:09 EDTLHOOn The Fly: Analyst Initiation Summary
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08:50 EDTLHOLaSalle Hotel initiated with a Buy at Ladenburg
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October 21, 2014
12:37 EDTCOVOptions with increasing implied volatility
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09:52 EDTCOVCovidien rises after Medtronic maintains merger date language
Shares of Covidien (COV) are rising in early trading after Medtronic (MDT), in its latest regulatory filing answering questions for shareholders regarding its proposed takeover of the Irish drugmaker, left its language regarding the expected closing date unchanged. WHAT'S NEW: In its most recent filing, Medtronic again stated, "As of the date of this joint proxy statement/prospectus, the transaction is expected to be completed late in the fourth calendar quarter of 2014 or early 2015. However, no assurance can be provided as to when or if the transaction will be completed. The required vote of Medtronic and Covidien shareholders to adopt the required shareholder proposals at their respective special meetings, as well as the necessary regulatory consents and approvals, must first be obtained and other conditions specified in the conditions appendix must be satisfied or, to the extent applicable, waived." ANALYST REACTION: Research firm BTIG says Medtronic's amended regulatory filing on the Covidien transaction increases the firm's confidence of the deal closing by early 2015. The firm adds it would be "stunned" to see Medtronic walk away from the merger after the company again showed commitment to the acquisition. WHAT'S NOTABLE: AbbVie (ABBV) last night confirmed that the company and Shire (SHPG), another Irish domiciled drugmaker, agreed to terminate their proposed merger. AbbVie said its decision was based upon its assessment of the September 22 notice issued by the U.S. Department of Treasury, which re-interpreted longstanding tax principles in a "uniquely selective manner designed specifically to destroy the financial benefits of these types of transactions." AbbVie continued that the Treasury notice "introduced an unacceptable level of risk and uncertainty given the magnitude of the proposed changes" and the stated intention of the department to continue to revise tax principles to further impact such "tax inversion" transactions. AbbVie noted that it has agreed to pay Shire a break fee of approximately $1.64B due to the deal falling through. PRICE ACTION: In early trading, shares of Covidien trading in New York rose 4% to $88.86, Medtronic advanced 1% to $64.57, Shires gained 0.7% to $185.82 and AbbVie added 1.4% to $55.16.
09:43 EDTCOVAmended filing increases confidence in Covidien deal at BTIG
BTIG says Medtronic's (MDT) amended regulatory filing on the Covidien (COV) transaction increases its confidence of the deal closing by early 2015. The firm adds it would be "stunned" to see Medtronic walk away from the merger after the company again showed commitment to the acquisition. Shares of Covidien are up 3% to $88.11 in early trading.
09:11 EDTCOVMedtronic keeps language unchanged on merger closing date
Medtronic in its latest regulatory filing answering questions for shareholders regarding its proposed takeover of Covidien (COV) left the language unchanged around the expected closing date. The company again stated, "As of the date of this joint proxy statement/prospectus, the transaction is expected to be completed late in the fourth calendar quarter of 2014 or early 2015. However, no assurance can be provided as to when or if the transaction will be completed. The required vote of Medtronic and Covidien shareholders to adopt the required shareholder proposals at their respective special meetings, as well as the necessary regulatory consents and approvals, must first be obtained and other conditions specified in the conditions appendix must be satisfied or, to the extent applicable, waived."
October 20, 2014
13:40 EDTCOVOptions with increasing implied volatility
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07:12 EDTCOVCongress of Neurological Surgeons to hold annual meeting
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October 19, 2014
16:54 EDTOGZPYRussia, Ukraine near deal for winter gas supply, WSJ says
Russia and Ukraine are getting closer to a deal for winter gas supplies that would alleviate worries that the conflict between the two country's could result in disrupting supplies to Europe via Ukraine, says the Wall Street Journal. Reference Link
October 17, 2014
12:35 EDTCOVCovidien puts active on wide price movement
Covidien October 82, December 70 and January 75 puts are active on total put volume of 8K contracts (1K calls). November put option implied volatility is at 60, January is at 40, April is at 42; compared to its 26-week average of 25 according to Track Data. Active put volume suggests traders taking positions for large price movement.
10:51 EDTCOVOptions with increasing implied volatility
Options with increasing implied volatility: COV DISH HLT QEP GREK BKW BYI LLY DTV TIBX
10:30 EDTAPDAir Products to increase prices for electronics offerings
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08:02 EDTCOVCovidien granted preliminary injunction against Ethicon's Harmonic ACE+7
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