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December 10, 2012
10:09 EDTANF, FRX, ELX, ATHN, CNQR, WBS, UPL, TRIP, SWFT, QRE, MDU, ISLE, CMTL, CME, CSL, APC, NBLOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Abercrombie & Fitch (ANF) upgraded to Outperform from Neutral at RW Baird... Anadarko (APC) upgraded to Outperform from Neutral at RW Baird... Carlisle (CSL) upgraded to Buy from Hold at KeyBanc... CME Group (CME) downgraded to Sell from Neutral at Goldman... Comtech (CMTL) upgraded to Overweight from Neutral at JPMorgan... Isle of Capri (ISLE) upgraded to Neutral from Underperform at Credit Suisse... MDU Resources (MDU) upgraded to Buy from Neutral at Citigroup... QR Energy (QRE) upgraded to Outperform from Neutral at Credit Suisse... Robert Half (RHI) upgraded to Buy from Hold at Deutsche Bank... Swift Transportation (SWFT) upgraded to Buy from Hold at Dahlman Rose... TripAdvisor (TRIP) upgraded to Buy from Hold at Deutsche Bank... Ultra Petroleum (UPL) upgraded to Neutral from Underperform at Sterne Agee... Webster Financial (WBS) upgraded to Buy from Hold at Deutsche Bank... Concur (CNQR) upgraded to Buy from Hold at Wunderlich... athenahealth (ATHN) upgraded to Neutral from Underperform at Sterne Agee... Emulex (ELX) upgraded to Overweight from Equal Weight at Stephens... Forest Labs (FRX) upgraded to Outperform from Neutral at Cowen... Noble Energy (NBL) upgraded to Buy from Accumulate at Global Hunter.
Check below for free stories on ANF;APC;CSL;CME;CMTL;ISLE;MDU;QRE;SWFT;TRIP;UPL;WBS;CNQR;ATHN;ELX;FRX;NBL the last two weeks.
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August 27, 2014
08:32 EDTISLEIsle of Capri says has $38M-$41M of CapEx for remainder of FY15
08:31 EDTISLEIsle of Capri reports Q1 adjusted EPS 2c, consensus 2c
Reports Q1 revenue $241.6M, consensus $242.77M
August 26, 2014
17:24 EDTCNQRConcur initiated with a Neutral at DA Davidson
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August 25, 2014
18:20 EDTCMTLComtech up 3% after confirming pursuit of strategic alternatives
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17:37 EDTCMTLComtech to resume trading at 5:50pm ET
Quotes resume at 5:45pm ET.
17:23 EDTCMTLComtech confirms it is exploring strategic alternatives
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16:33 EDTTRIPLiberty sites when-issued trading for spin-off of Liberty TripAdvisor Holdings
Liberty Interactive (LINTA, LVNTA) announced that, in connection with its upcoming spin-off of its subsidiary Liberty TripAdvisor Holdings, it has been advised by Nasdaq that shares of TripAdvisor Holdings Series A and Series B common stock will trade on a when-issued basis on the Nasdaq Global Select Market under the symbols “LTPAV” and “LTPBV”, respectively, on August 27. The Spin-off will be effected through the distribution, by means of a dividend, of TripAdvisor Holdings common stock at 5:00 p.m., New York City time, on August 27 to holders of Liberty Ventures common stock. The record date for the dividend was 5:00 p.m., New York City time, on August 21. Liberty expects that the TripAdvisor Holdings Series A and Series B common stock will begin trading in the regular way on the Nasdaq Global Select Market under the symbols “LTRPA” and “LTRPB” beginning on August 28. The completion of the Spin-off remains subject to the satisfaction or waiver, as applicable, of a number of conditions.
16:29 EDTCMTLComtech trading halted, pending news
16:13 EDTCMTLOn The Fly: Closing Wrap
Stocks began the session in positive territory and proceeded to tack on gains throughout the morning. Despite a disappointing report on new home sales in July, the S&P surpassed the 2,000 level for the first time before noon. The market pared its gains shortly after the milestone was reached and drifted for the remainder of the session on light volume, as trading activity may be restrained all week ahead of the Labor Day weekend. ECONOMIC EVENTS: In the U.S., the Chicago Fed's National Activity index jumped to 0.39 in July from an upwardly revised 0.21 in June. Markit's preliminary August services PMI came in at 58.5, which was down from a prior reading of 60.8 but above the 58.0 consensus projection. New home sales dropped 2.4% to a 412K rate in July, missing expectations for them to have risen to a 430K annualized rate. COMPANY NEWS: Shares of InterMune (ITMN) surged $19.05, or 35.41%, to $72.85 after the company agreed to be acquired by Roche (RHHBY) for $74.00 per share in an all-cash transaction. The deal announcement comes less than two weeks after Bloomberg reported that Roche, along with big pharma peers Sanofi (SNY) and GlaxoSmithKline (GSK), had made takeover bids for the smaller drugmaker. A number of other biotech companies gained following the deal announcement, including bigger names like Gilead (GILD) and Celgene (CELG) and smaller ones such as Achillion Pharmaceuticals (ACHN) and Receptos (RCPT)... Burger King (BKW) shares rose $5.29, or 19.51%, to $32.40 after the company confirmed it is in talks regarding a potential strategic transaction with Canadian donut chain Tim Hortons (THI). Shares of Tim Horton's trading in New York also gained $11.88, or 18.91%, to $74.72 following the confirmation of news first reported by The Wall Street Journal. MAJOR MOVERS: Among the other notable gainers was Advaxis (ADXS), which advanced 75c, or 23.08%, to $4.00 after announcing it has entered into a clinical trial collaboration agreement with Merck (MRK). Also rising were shares of Comtech (CMTL), which jumped $1.70, or 4.84%, to $36.81 after Reuters said the company is working with Citigroup to explore a potential sale. Among the noteworthy losers was Chinese internet and software company Qihoo 360 Technology (QIHU), which fell $7.88, or 7.74%, to $93.87 despite reporting second quarter earnings and revenue that beat analysts' estimates. Also lower were shares of GrubHub (GRUB), which fell $3.60, or 8.42%, to $39.16 after filing to sell 10M shares of common stock. INDEXES: The Dow gained 75.65, or 0.44%, to 17,076.87, the Nasdaq rose 18.80, or 0.41%, to 4,557.35, and the S&P 500 advanced 9.54, or 0.48%, to 1,997.94.
15:50 EDTCMTLComtech said to explore potential sale, Reuters says
Comtech, a maker of communications equipment, is exploring a sale with the help of Citigroup, says Reuters, citing sources.The company has received preliminary expressions of interest in recent weeks, added Reuters. Shares of Comtech are up approximately 6% to $37 in late afternoon trading. Reference Link
15:45 EDTCMTLComtech volatility spikes, said to explore potential sale
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15:38 EDTCMTLComtech said to explore potential sale, Reuters says
Comtech said be working with Citigroup to explore potential sale, Reuters says, citing sources.
13:44 EDTANFAbercrombie & Fitch weekly volatility elevated into Q2 and outlook
Abercrombie & Fitch August weekly call option implied volatility is at 96, September is at 48, October is at 44, December is at 38; compared to its 26-week average of 45 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on August 26.
09:19 EDTTRIPTripAdvisor price target raised to $100 from $88 at Wunderlich
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08:44 EDTTRIPExpedia Q3 trends encouraging, says FBR Capital
FBR Capital believes that Q3 U.S. trends indicate that Expedia (EXPE) continues to generate healthy growth. The firm thinks that the company's room night growth and domestic ticket volume growth have accelerated slightly from June levels. FBR expects Expedia to benefit from a change in TripAdvisor's (TRIP) meta path. It keeps an Outperform rating on Expedia.
06:42 EDTCMECME restarts electronic trading after mishap postpones open, Reuters says
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August 22, 2014
12:08 EDTANFGap hits 52-week high following beat and raise quarter
Shares of specialty apparel retailer The Gap (GPS) are advancing after the company posted better than expected second quarter results, and raised its fiscal 2014 profit outlook. WHAT'S NEW: Last night, Gap reported Q2 earnings per share of 75c and revenue of $3.98B, topping analysts’ consensus estimates of 69c and $3.96B, respectively. Q2 same store sales were flat versus the prior year period. WHAT’S NOTABLE: For FY14, Gap raised its EPS view to $2.95-$3.00 from $2.90-$2.95, versus consensus of $2.95. The company updated its guidance for FY14 diluted EPS to reflect the 5c related to the gain on asset sale. For FY14, the company continues to expect capital spending to be approximately $750M in support of its outlined strategies. Gap also announced it will enter India through franchise-operated Gap brand stores in 2015. Gap is partnering with Arvind Lifestyle Brand Limited, a subsidiary of Arvind Limited, which is one of India’s largest textile companies. The first stores are expected to open in India’s two largest cities – Mumbai and Delhi – starting with Gap’s Summer 2015 collection for adults, kids and babies. The brand plans to open about 40 franchise-operated Gap stores in India. ANALYST REACTION: This morning, analyst commentary was decidedly positive. Research firm Janney Capital upgraded Gap to Buy from Neutral. The firm upgraded shares based on the overall improving Softlines sector due to an inventory correction, Old Navy strength, global opportunities, potential improved gross margin returns on inventory investment, and best-in-class management. Their price target on the shares is $51. Another firm, UBS, said Gap is well positioned for second half upside citing its Omni-channel advantage, shift to higher margin businesses, increased square footage, and modestly positive comps driven by ecommerce. UBS has a Buy rating and a $50 price target on the stock. Sterne Agee says Gap’s valuation is very attractive. The firm believes that Gap's fundamentals are improving, while the setup for the stock over the next 12-18 months is favorable. It adds that the company's gross margins should be boosted by several factors going forward, and it kept a Buy rating on the shares. PRICE ACTION: In late morning trading, Gap rose $2.04, or 4.7%, to $45.22 on heavy trading volume. Earlier in the session, it reached a new 52-week high of $45.47. Including today’s advance, the stock has gained over 7.5% over the past twelve months. OTHERS TO WATCH: Other specialty apparel companies include Abercrombie & Fitch (ANF), American Eagle Outfitters (AEO), Guess (GES), and The Buckle (BKE).
08:38 EDTTRIPTripAdvisor cut metasearch inventory in half, says FBR Capital
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August 19, 2014
12:34 EDTQREBreitBurn Energy, QR Energy receive early termination of HSR waiting period
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11:53 EDTANFAeropostale soars as Geiger returns as CEO
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