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Stock Market & Financial Investment News

News Breaks
August 1, 2014
10:00 EDTSRPT, BIN, FLML, CWST, SGMO, PZG, FINL, ANET, SCMP, RNA, PTCT, CBAYOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Arista Networks (ANET) initiated with a Neutral at Citigroup... Casella Waste (CWST) initiated with a Hold at Stifel... CymaBay Therapeutics (CBAY) initiated with an Outperform at Cowen... Finish Line (FINL) initiated with a Buy at Jefferies... Flamel Technologies (FLML) initiated with an Outperform at Leerink... PTC Therapeutics (PTCT) initiated with an Outperform at Oppenheimer... Paramount Gold & Silver (PZG) initiated with a Buy at Noble Financial... Progressive Waste (BIN) initiated with a Hold at Stifel... Prosensa (RNA) initiated with an Outperform at Oppenheimer... Sangamo (SGMO) initiated with an Overweight at JPMorgan... Sarepta (SRPT) initiated with an Outperform at Oppenheimer... Sucampo (SCMP) initiated with a Buy at Roth Capital.
News For ANET;CWST;CBAY;FINL;FLML;PTCT;PZG;BIN;RNA;SGMO;SRPT;SCMP From The Last 14 Days
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February 24, 2015
06:21 EDTCBAYCymaBay Therapeutics to host conference call
Conference call to discuss Phase 2b clinical study of its lead product candidate, arhalofenate, for the treatment of gout will be held on February 24 at 8:30 am. Webcast Link
06:12 EDTCBAYCymaBay Therapeutics announces results from Phase 2b study of arhalofenate
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February 23, 2015
16:27 EDTPTCTOn The Fly: Closing Wrap
Stocks on Wall Street began the session in negative territory and remained there for most of the session, with the Nasdaq the lone index to post a small gain. The Dow was weighed down by shares of Boeing (BA), which slid after the stock received a downgrade. There was little in the way of positive economic news, as the most notable report showed existing homes were lower than expected due to a shortage of inventory. The averages drifted for most of the session, as investors may be waiting on the sidelines ahead of tomorrow’s banking panel testimony by Fed Chair Janet Yellen. ECONOMIC EVENTS: In the U.S., the Chicago Fed national activity index rebounded to 0.13 in January, which was nearly in-line with expectations. Existing home sales dropped 4.9% to a 4.82M rate in January, which was much worse than the expected 1.8% drop to a 4.95M unit rate. In Europe, the Ifo Institute’s measure of German business confidence rose to 106.8 in February, which was up a tenth of a percentage point from the previous month but below the 107.7 consensus forecast. Also, the Bank of Israel became the latest central bank to cut rates this year, lowering its main interest rate to 0.1% from 0.25%. COMPANY NEWS: The shares of a number of health insurers rose after the Centers for Medicare and Medicaid Services, or CMS, issued preliminary 2016 Medicare Advantage rates. According to Credit Suisse, the rates were favorable for the insurers. Following the CMS announcement made late Friday, Humana (HUM) climbed $8.40, or 5.38%, to $164.52, UnitedHealth (UNH) rose $3.78, or 3.36%, to $116.40, and WellCare (WCG) gained $4.68, or 5.53%, to $89.30. MAJOR MOVERS: Among the notable gainers was PTC Therapeutics (PTCT), which jumped $9.77, or 17.7%, to $64.96 after Reuters said the company is working with financial advisers to explore a potential sale after receiving takeover interest from several companies including Shire (SHPG) and BioMarin (BMRN). Also higher was Valeant (VRX), which rose $25.49, or 14.71%, to $198.75 after the company agreed to buy Salix (SLXP) for $158 per share and also reported better-than-forecast earnings. Salix shares, however, fell $2.09, or 1.32%, to $155.76, as a report Friday from CNBC's David Faber telegraphed the deal and suggested Valeant could value Salix around $160 per share. Among the noteworthy losers was Spectrum Pharmaceuticals (SPPI), which dropped $1.18, or 15.82%, to $6.28 after a judge ruled that a drug which could compete with the company's Fusilev treatment does not infringe on the company's intellectual property. Also lower were shares of Boeing, which fell $3.57, or 2.26%, to $154.74 after the stock was downgraded to Sell from Neutral at Goldman Sachs. INDEXES: The Dow fell 23.60, or 0.13%, to 18,116.84, the Nasdaq gained 5.01, or 0.1%, to 4,960.97, and the S&P 500 slipped 0.64, or 0.03%, to 2,109.66.
12:30 EDTPTCTPTC Therapeutics call active after report on exploring options
PTC Therapeutics March 60 and 70 calls are active on total call volume of 230 contracts (25 puts) on exploring sale amid interest from large peers, Reuters says. March call option implied volatility is at 99, April is at 78, June is at 67; compared to its 14-week average of 68 according to Track Data. Active call volume suggests traders taking positions for price movement.
12:29 EDTPTCTPTC Therapeutics exploring potential sale, Reuters reports
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12:02 EDTPTCTPTC Therapeutics jumps 14% after Reuters report on exploring options
12:01 EDTPTCTPTC Therapeutics exploring sale amid interest from large peers, Reuters says
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February 22, 2015
18:09 EDTANETArista Networks shares could be a bargain, Barron's says
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February 20, 2015
07:55 EDTANETArista Networks Q4 results 'impressive,' says Wells Fargo
After Arista reported stronger than expected Q4 results, Wells Fargo believes that the company continues to capture share in the data center switching market. The firm thinks the company's guidance could prove to be conservative, and it keeps an Outperform rating on the shares.
07:35 EDTANETArista Networks rapidly gaining share, says RBC Capital
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February 19, 2015
18:25 EDTSGMOPiper Jaffray biotech analyst to hold analyst/industry conference call
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18:19 EDTANETOn The Fly: After Hours Movers
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16:13 EDTANETArista Networks sees Q1 revenue $164M-$172M, consensus $161.75M
Sees Q1 gross margin 63%-66%.
16:13 EDTANETArista Networks reports Q4 EPS 53c, consensus 38c
Reports Q4 revenue $173.5M, consensus $166.59M.
14:24 EDTANETArista Networks weakness creates buying opportunity, says Wells Fargo
Wells Fargo expects Arista to report stronger than expected Q4 results and provide better than expected Q1 guidance. The firm predicts that the company will deliver exceptional growth and strong profitability over the next few years. It keeps an Outperform rating on the stock.
February 17, 2015
17:14 EDTSRPTPoint72 lowers passive stake in Sarepta to 4.4% from 5.2%
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12:50 EDTSRPTOn The Fly: Midday Wrap
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10:00 EDTSRPTOn The Fly: Analyst Upgrade Summary
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09:20 EDTSRPTOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Vipshop Holdings (VIPS), up 10.9%... VASCO Data Security (VDSI), up 7.1%... Waste Management (WM), up 3.7%. ALSO HIGHER: Starwood Hotels (HOT), up 1.9% after appointing Adam Aron as interim CEO... Sarepta Therapeutics (SRPT), up 7.3% after being upgraded at BofA/Merrill... Navidea Biopharmaceuticals (NAVB), up 7.5% after publishing results of phase 3 Lymphoseek trial... Campus Crest (CCG), up 7.7% after announcing that it will explore strategic alternatives as well as Clinton Group and Campus Evolution proxy contest... Cyren (CYRN), up 7.1% following distribution agreement with ALSO Deutschland. DOWN AFTER EARNINGS: Helix Energy (HLX), down 13.3%... Walter Energy (WLT), down 10.1%. ALSO LOWER: Celsus Therapeutics (CLTX), down 82.3% after MRX-6 Cream 2% Phase II trial did not meet primary endpoint... Vascular Biogenics (VBLT), down 53.2% after reporting that VB-201 Phase 2 studies did not meet primary endpoints and removal of FDA partial clinical hold on VB-111... Vanguard Natural Resources (VNR), down 7.1% after reporting preliminary fourth quarter results.
07:43 EDTSRPTSarepta upgraded at BofA/Merrill
As previously reported, BofA/Merrill upgraded Sarepta to Buy from Neutral. The firm has increased confidence that eleplirsen will be approved for treating boys with DMD. Price target raised to $21 from $19.
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