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December 11, 2012
10:00 EDTSPLK, HWAY, AEO, ORA, LULU, OXY, MMS, COH, ARO, ACRE, URBN, KORS, HES, GPS, ANF, TWGP, TLYSOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Abercrombie & Fitch (ANF) initiated with a Neutral at Goldman... Aeropostale (ARO) initiated with a Neutral at Goldman... American Eagle (AEO) initiated with a Neutral at Goldman... Aruba Networks (ARUN) initiated with an Outperform at Oppenheimer... Coach (COH) initiated with a Sell at Goldman... Gap (GPS) initiated with a Buy at Goldman... Healthways (HWAY) initiated with a Sell at Citigroup... Hess Corp. (HES) initiated with a Hold at Dahlman Rose... Maximus (MMS) initiated with a Buy at Citigroup... Michael Kors (KORS) initiated with a Conviction Buy at Goldman... Occidental Petroleum (OXY) initiated with a Buy at Dahlman Rose... Splunk (SPLK) initiated with a Neutral at Mizuho... Tilly's (TLYS) initiated with a Buy at Goldman... Urban Outfitters (URBN) initiated with a Neutral at Goldman... lululemon (LULU) initiated with an Underperform at CLSA... Tower Group (TWGP) initiated with a Buy at BGB Securities... Ares Commercial Real Estate (ACRE) initiated with an Outperform at JMP Securities... Ormat Technologies (ORA) initiated with a Buy at Sidoti.
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November 16, 2015
13:07 EDTURBNUrban Outfitters volatility elevated into Q3 and outlook
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09:42 EDTOXYOccidental Petroleum management to meet with JPMorgan
Meetings to be held in Boston on November 17-18 hosted by JPMorgan.
08:57 EDTURBNUrban Outfitters to acquire The Vetri Family restaurants
Urban Outfitters announced today it has entered into an agreement to acquire substantially all The Vetri Family group of restaurants including award winning Pizzeria Vetri. The Vetri Family group of restaurants was created and co-headed by James Beard award winning Chef Marc Vetri and his business partner Jeff Benjamin.
07:17 EDTOXYSeaport Global to hold a conference
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November 13, 2015
16:24 EDTURBNOn The Fly: Top stock stories for Friday
Stocks on Wall Street ended a tough week on a down note, falling after the Commerce Department reported that retail sales grew by an anemic 0.1% last month. This data comes on the heels of this week's downbeat quarterly report from Macy's (M) and a similarly disappointing report last night from peer Nordstrom (JWN). ECONOMIC EVENTS: In the U.S., retail sales rose 0.1% in the month of October, versus expectations for an increase of 0.3%. When autos and gas are removed, the core reading was up 0.3%, versus expectations for a rise of 0.4%. Producer prices fell 0.4%, versus expectations for them to be up 0.2%. When food and energy are removed, the core reading was down 0.3%, versus expectations for it to be up 0.1%. Business inventories grew 0.3% in September while sales were flat compared to August. Consumer sentiment, as measured by the preliminary print from the University of Michigan survey, improved 3.1 points to 93.1 in November, which was better than the 91.5 reading that was expected. In Europe, data showed that eurozone's economy grew by just 0.3% in the third quarter, which was a slowdown from the 0.4% GDP growth recorded three months earlier and weaker than the 0.4% consensus growth forecast. COMPANY NEWS: Shares of retailers broadly declined following the weaker than expected retail sales data reported by the government as well as third quarter earnings reports from Nordstrom and J.C. Penney (JCP), which fell 15% and 15.5% respectively. Virtually every mass-market, brick-and-mortar retailer was down today, from giants like Wal-Mart (WMT) and Costco (COST), to smaller retailers like Ross Stores (ROST) and Urban Outfitters (URBN)... Shares of Mylan (MYL) jumped 12.9% to $48.78 after the company's offer to acquire Perrigo (PRGO) failed, ending a seven-month fight between the two drug makers. Perrigo Chief Executive Officer Joseph Papa said he was "delighted" that his company's shareholders rejected the offer and the company added that it will immediately commence its previously announced $2B share buyback program, but its shares slid 6.16% to $146.90 in the wake of the shareholder vote... Cisco (CSCO) fell 5.8% after its first quarter earnings and revenue beat expectations but its guidance for the new quarter disappointed. A number of analysts that had been bullish on the name trimmed their price targets in response but also recommended the post-earnings weakness as a buying opportunity. MAJOR MOVERS: Among the notable gainers was Springleaf Holdings (LEAF), which surged $5.07, or 11.5%, to $49.27 after reaching a settlement with the U.S. Department of Justice that will allow the company to proceed with closing its previously announced acquisition of OneMain Financial from Citi (C). On the closing of the acquisition, the company will be renamed OneMain Holdings and has applied to the New York Stock Exchange to change its ticker symbol to "OMF," Springleaf noted. Also higher was Illumina (ILMN), which gained $10.26, or 6.6%, to $165.65 after being selected to replace Sigma-Aldrich (SIAL) in the S&P 500. Among the noteworthy losers was Fossil (FOSL), which plunged $18.62, or 36.5%, to $32.39 after the watchmaker gave lower than expected profit guidance for the upcoming quarter and said it continues to expect this fiscal year's results to be "significantly" negatively impacted by foreign currency changes. Also lower were shares of Vipshop (VIPS), which fell $5.03, or 27%, to $13.60 after issuing weaker than expected preliminary third quarter revenue guidance, which it said was partially driven by the warmer-than-expected fall weather in China. INDEXES: The Dow dropped 202.83, or 1.16%, to 17,245.24, the Nasdaq lost 77.20, or 1.54%, to 4,927.88, and the S&P 500 declined 22.93, or 1.12%, to 2,023.04.
10:50 EDTLULUOptions with increasing implied volatility
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November 12, 2015
16:27 EDTSPLKOn The Fly: Top stock stories for Thursday
Stocks on Wall Street opened in negative territory and weakened throughout the day, pushing equities down to their lowest levels of November. Comments made by Fed officials early in the day lent more uncertainty, not more clarity, regarding the chances of a rate hike at the FOMC meeting in December. The commodity sector was also weak, led by oil, which saw benchmark U.S. prices hit a three month low as WTI crude slid below $42 per barrel. ECONOMIC EVENTS: In the U.S., initial jobless claims were unchanged at 276,000 in the week of November 7, versus expectations for 270,000 first-time claims. The JOLTS report showed job openings rebounded 149,000 to 5.53M in September. In Europe, European Central Bank president Mario Draghi, in remarks delivered in a hearing in the European Parliament, once again signaled that the bank is ready to boost stimulus at its December meeting, if warranted. COMPANY NEWS: Shares of Angie's List (ANGI) gained $1.05, or 13.26%, to $8.97 after IAC/InterActiveCorp (IACI), the parent company of HomeAdvisor, made public a $8.75 per share cash buyout offer. Yelp (YELP), which also connects people with local businesses via its web-based and mobile services, rose 92c, or 3.66%, to $25.90 following the revelation of the takeout bid for Angie's List... Department store owner Kohl's (KSS) advanced $2.64, or 6.12%, to $45.80 after its third quarter earnings and revenues beat expectations... Shares of PayPal (PYPL) were weak for a second straight session following a report yesterday afternoon alleging that Apple (AAPL) is set to launch a competitor to one of the payment technology company's offerings. Shares of PayPal slipped 1.8% to close at $36.33 yesterday following The Wall Street Journal's report, then dipped another 2.1% to close at $35.57 today. MAJOR MOVERS: Among the notable gainers was Eros International (EROS), which rebounded 65c, or 7.88%, to $8.90 after calling allegations of security laws violations "baseless and misleading." Also higher was Splunk (SPLK), which rose $1.61, or 2.82%, to $58.78 after research firm JMP Securities reiterated an Outperform rating on the name, saying recent checks indicate that spending on Splunk products "remains healthy." (JD) advanced 3.2% to $28.78 after reporting 130% sales growth for China's Singles Day event. Among the noteworthy losers was Fairmount Santrol (FMSA), which fell 66c, or 22%, to $2.34 after reporting downbeat third quarter earnings and suspending its earnings guidance due to market "uncertainty." Also lower was Advance Auto Parts (AAP), which declined $30.00, or 15.41%, to $164.67 after its quarterly report missed analyst expectations, which came alongside a retirement announcement by its CEO and news of Starboard chief Jeff Smith being appointed to the company's board. Additionally, Derma Sciences (DSCI) lost 27.9% to $4.04 after terminating its Phase 3 clinical trials of aclerastide for the treatment of foot ulcers due to futility. INDEXES: The Dow fell 254.15, or 1.44%, to 17,448.07, the Nasdaq lost 61.94, or 1.22%, to 5,005.08, and the S&P 500 dropped 29.03, or 1.4%, to 2,045.97.
12:09 EDTGPSOld Navy: More than 800 stores to open at 4 pm on Thanksgiving Day
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10:50 EDTLULUOptions with increasing implied volatility
Options with increasing implied volatility: FTK MW NLNK MNK GOGO LULU RAD FL
09:00 EDTSPLKSplunk should be bought ahead of earnings, says JMP Securities
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08:04 EDTURBNBaird cautious on Urban Outfitters heading into Q3 earnings
Baird is cautious on Urban Outfitters heading into Q3 earnings, citing promotional activity, sluggish traffic and comments from management about a slow start in August. Baird reiterated its Outperform rating and lowered its price target to $37 from $42 on Urban Outfitters shares.
07:58 EDTURBNUrban Outfitters price target lowered to $37 from $46 at Brean Capital
Brean Capital lowered its price target on Urban Outfitters to $37 from $46 citing cautiousness about the second half due to warm weather. The firm continues to see the company as a best-of-breed retailer, given its diversified portfolio of brands, and sees multiple top and bottom line drivers. Brean Capital maintained its Buy rating on Urban Outfitters shares.
06:35 EDTMMSMaximus cuts FY16 GAAP EPS to $2.40-$2.70 from $2.85-$3.05, consensus $2.95
Backs FY16 revenue $2.4B-$2.5B, consensus $2.47B. The lowered earnings outlook is attributable to a slower ramp and hence a reduced contribution from the U.K. Health Assessment Advisory Service contract. This guidance does not include any acquisitions or significant legal expenses or recoveries. The company estimates that approximately 93% of its fiscal 2016 forecasted revenue is in the form of backlog or option periods.
06:33 EDTMMSMaximus reports Q4 Health Services revenue up 29% to $296.2M
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06:32 EDTMMSMaximus reports Q4 adjusted EPS 63c, consensus 52c
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November 11, 2015
13:02 EDTANFOptions with increasing call volume; TAP SPNC NBG ANF XRX ASNA ODP
11:06 EDTURBNUrban Outfitters volatility elevated into Q3 and outlook
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07:44 EDTOXYOccidental plans to sell Zubair interest to SOC, Reuters says
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07:42 EDTSPLKSplunk volatility elevated into Q3 and outlook
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07:07 EDTSPLKSplunk risk/reward favorable into earnings, says William Blair
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