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Stock Market & Financial Investment News

News Breaks
March 25, 2014
10:07 EDTAMX, PHM, KBR, TU, SPR, NAV, HIMX, T, TKR, MSCI, CRK, ACI, CST, ANR, BMRNOn The Fly: Analyst Downgrade Summary
Alpha Natural (ANR) downgraded to Hold from Buy at Jefferies... Arch Coal (ACI) downgraded to Hold from Buy at Jefferies... BioMarin (BMRN) downgraded to Neutral from Buy at Goldman... CST Brands (CST) downgraded to Neutral from Overweight at JPMorgan... KBR (KBR) downgraded to Neutral from Buy at Goldman... MSCI (MSCI) downgraded to Neutral from Buy at UBS... Navistar (NAV) downgraded to Neutral from Buy at UBS... PulteGroup (PHM) downgraded to Underweight from Equalweight at Barclays... Timken (TKR) downgraded to Hold from Buy at KeyBanc... Spirit AeroSystems (SPR) downgraded to Underperform from Neutral at Buckingham... America Movil (AMX) downgraded at BofA/Merrill... AT&T (T) downgraded to Neutral from Overweight at HSBC... TELUS (TU) downgraded to Equal Weight from Overweight at Morgan Stanley... Comstock Resources (CRK) downgraded to Accumulate from Buy at KLR Group... Himax Technologies (HIMX) downgraded to Underperform from Buy at BofA/Merrill.
News For ANR;ACI;BMRN;CST;KBR;MSCI;NAV;PHM;TKR;SPR;AMX;T;TU;CRK;HIMX From The Last 14 Days
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March 18, 2015
06:33 EDTNAVNavistar downgraded to Underweight from Equal Weight at Morgan Stanley
06:16 EDTTAmerican Express to launch Plenti loyalty program this spring, WSJ reports
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March 17, 2015
12:38 EDTHIMXOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday, with the Dow falling about 1%. The market opened in negative territory and proceeded to gain additional downside momentum in early trading. Data on housing starts was not good, even accounting for bad weather in many areas of the country, and the prospect of interest rate increases on the horizon may have some fearing that the housing market recovery is in danger of stalling. Adding to the weakness in stocks may have been the further slide in crude oil prices, which pushed benchmark U.S. crude oil below $43 per barrel earlier in the session. ECONOMIC EVENTS: In the U.S., housing starts plunged 17% to an 897K rate in February, widely undershooting expectations for starts to be down 2.4% to a 1.04M rate, but much of the slide was attributed to weather. Building permits rose 3% to a rate of 1.092M, which was better than the expected 0.5% growth to a 1.065M rate. In Europe, Germany's ZEW Center investor confidence index climbed to 54.8 from 53 last month, though that fell short of the 59.4 consensus forecast. In Asia, the Shanghai Composite index rose 1.6% to close at its highest level in over 6 years. COMPANY NEWS: Apple (AAPL) is preparing to launch an online TV service later this year, according to reports from The Wall Street Journal and the Financial Times. After the reports, Piper Jaffray analyst Gene Munster said he believes Apple's online TV service launch would lay the groundwork for an actual television launch sometime in 2016. Munster estimates that at an average selling price of $1,750, a television could add about 7% to Apple's 2017 revenue. MAJOR MOVERS: Among the notable gainers was Black Diamond (BDE), which jumped 30% after the company reported was then expected quarterly results and guidance but also announced it has hired two banks to help it explore its strategic alternatives. Also higher was Esperion (ESPR), which rose 15% after the company's phase 2b study of ETC-1002, a product in development for patients with hypercholesterolemia on stable statin therapy, met its primary endpoints. Among the noteworthy losers was Himax (HIMX), which dropped 9% after BofA Merrill Lynch downgraded the stock two notches to Underperform from Buy. Also lower following its earnings report was magicJack (CALL), which fell 19%. INDEXES: Near midday, the Dow was down 152.00, or 0.85%, to 17,825.42, the Nasdaq was down 8.39, or 0.17%, to 4,921.12, and the S&P 500 was down 11.39, or 0.55%, to 2,069.80.
12:05 EDTANR, ACIU.S. coal sector predicted to see 'wave of bankruptcies'
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10:00 EDTCRKOn The Fly: Analyst Downgrade Summary
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09:32 EDTHIMXHimax downgraded to Underperform from Buy at BofA/Merrill
BofA/Merrill downgraded Himax two notches to Underperform from Buy based on limited visibility, product newsflow from both Google (GOOG) and Microsoft (MSFT), and weakness with Samsung's low-end LCD based smartphone and China share. BofA/Merrill lowered Himax's price target to $7.
09:14 EDTCRKComstock Resources downgraded to Sell from Neutral at Global Hunter
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07:18 EDTBMRNMyriad Genetics announces collaboration expansion with BioMarin
Myriad Genetics (MYGN) announced an expansion of the company's collaboration with BioMarin Pharmaceutical (BMRN). Under the expanded collaboration, BioMarin will use Myriad's myChoice HRD companion diagnostic test to prospectively identify patients with metastatic breast, ovarian and potentially other tumor types that may be sensitive to talazoparib. Financial terms were not disclosed.
07:13 EDTTKRBofA/Merrill to hold a conference
Global Industrials & EU Autos Conference 2015 to be held in London, England on March 17-20.
March 16, 2015
14:43 EDTHIMXAnalyst sees Himax facing headwinds, risks in near-term
The shares of Himax Technologies (HIMX) are falling sharply after research firm Northland Securities warned that the company's March revenues could come in at the lower end of its guidance. Himax develops semiconductors used in thin film transistor-liquid crystal displays and displays using other technologies. WHAT'S NEW: The Chinese sales of smartphones made by a number of Himax's customers, including Samsung, Lenovo (LNVGY), and ZTE, have been weak, Northland analyst Tom Sepenzis wrote in a note to investors today. Additionally, Samsung's new smartphones will probably ship with OLED displays, rather than TFT displays, the analyst stated. These developments create risks for Himax in the March-June time period, according to Sepenzis. Meanwhile, January and February data reported by a number of Taiwanese vendors, including HTC and Taiwan Semiconductor (TSM), do not bode well for Himax, as their sales were down 26.5% in February versus January. Additionally, Sepenzis is now more pessimistic on the near-term outlook for sales of augmented reality headsets, leading him to believe that Himax's revenue from these products will be lower than he previously estimated in the near-term. The analyst kept a $110 price target and Outperform rating on the shares, as he remains upbeat on the company's longer term outlook. PRICE ACTION: In mid-afternoon trading, Himax dropped 51c, or 6.5% to $7.47.
13:06 EDTTUSysorex signs TELUS to resell AirPatrol products
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11:50 EDTANRAlpha Natural affiliate miner suffers fatal injury at Deep Mine 41 in Virginia
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11:14 EDTHIMXHimax China sales falling, estimates need to come down, says Northland
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10:28 EDTBMRNOptions with increasing implied volatility
Options with increasing implied volatility: PVA NFLX BMRN DNOW MYL TEVA PEP GE
March 13, 2015
15:01 EDTTFCC stops 180-day clock in Comcast, AT&T deal proceedings
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11:19 EDTBMRNBioMarin rallies amid positive call on DMD drug timeline, takeover rumor
The shares of drug maker BioMarin (BMRN) are climbing after research firm Jefferies quoted a regulatory expert as saying that the company's drisapersen drug has a good chance of being approved on an accelerated basis by the FDA. Drisapersen is a treatment for Duchenne Muscular Dystrophy, or DMD. WHAT'S NEW: "There is a strong possibility" that the FDA will grant accelerated approval to drisapersen because there is currently no approved drug for the treatment of DMD, Jefferies analyst Eun Yang quoted the expert as saying. The expert is also optimistic about the outlook for accelerated approval because she had a good experience working with BioMarin while she was with the FDA and because BioMarin has a favorable track record with the FDA, according to Yang. There is a 60% chance that drisapersen will be approved by the end of this year and the stock can rise to $155, versus its current level of about $121.50, if that does occur, the analyst stated. Yang's price target on the stock increased to $135 from $125 and the analyst kept a Buy rating on the shares. WHAT'S NOTABLE: Pharmaceutical giant AstraZeneca (AZN) has been rumored to be interested in buying BioMarin for $175 per share in cash, British newspaper Daily Mail reported. , Piper Jaffray analyst Joshua Schimmer wrote in a note to investors this morning that BioMarin, along with Vertex (VRTX) and Incyte (INCY), have a "clear path" to joining the group of companies with market caps of over $10B projected to deliver greater than 20% EPS CAGR, which the analyst identified as a set of criteria that has previously pointed to companies that make good potential takeover targets. PRICE ACTION: In mid-morning trading, BioMarin climbed nearly 4% to $120.
10:09 EDTBMRNHigh option volume stocks
High option volume stocks: ULTA HOG CTIC CTL LOCO IMPV BMRN IMOS ATHX GALE
09:20 EDTTBofA/Merrill media/telecom analysts hold analyst/industry conference call
Media & Telecom Analyst Reif-Cohen and Barden, along with Matthew Brill, Pratner at Latham & Watkins LLP, discuss the FCC Open Internet Order on an Analyst/Industry conference call to be held on March 13 at 11 am.
08:07 EDTBMRNAstraZeneca rumored to have BioMarin 'on shopping list,' Daily Mail says
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07:39 EDTBMRNBioMarin price target raised to $135 from $125 at Jefferies
Jefferies raised its price target for BioMarin shares to $135 after a regulatory expert it spoke to expressed optimism regarding drisapersen winning accelerated approval. Jefferies sees greater than 30% upside to current share levels should drisapersen get approved by the end of 2015. The firm views BioMarin as well positioned for "meaningful" long-term growth and keeps a Buy rating on the name.
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