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News Breaks
March 7, 2014
10:00 EDTMTDR, VMEM, SWY, KIN, CYS, SPLS, TCPC, PNFP, HUM, MTGE, OAS, GNCMA, SBLK, NYMT, HMHC, ANROn The Fly: Analyst Downgrade Summary
Alpha Natural (ANR) downgraded to Sell from Neutral at Goldman... American Capital Mortgage (MTGE) downgraded to Hold from Buy at Deutsche Bank... CYS Investments (CYS) downgraded to Hold from Buy at Deutsche Bank... Houghton Mifflin (HMHC) downgraded to Hold from Buy at Stifel... Humana (HUM) downgraded to Hold from Buy at Jefferies... Kindred Biosciences (KIN) downgraded to Neutral from Buy at Roth Capital... New York Mortgage (NYMT) downgraded to Hold from Buy at Deutsche Bank... Numerex (NMRX) downgraded to Hold from Buy at Canaccord... Pinnacle Financial (PNFP) downgraded to Hold from Buy at Wunderlich... Safeway (SWY) downgraded to Hold from Buy at BB&T... Star Bulk Carriers (SBLK) downgraded to Equal Weight from Overweight at Morgan Stanley... TCP Capital (TCPC) downgraded to Hold from Buy at Deutsche Bank... Violin Memory (VMEM) downgraded to Underperform from Buy at BofA/Merrill... General Communications (GNCMA) downgraded at Raymond James... Staples (SPLS) downgraded to Hold from Buy at Argus... Matador (MTDR) downgraded to Hold from Accumulate at KLR Group... Oasis Petroleum (OAS) downgraded to Accumulate from Buy at KLR Group.
News For ANR;MTGE;CYS;HMHC;HUM;KIN;NYMT;PNFP;SWY;SBLK;TCPC;VMEM;GNCMA;SPLS;MTDR;OAS From The Last 14 Days
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February 26, 2015
07:29 EDTHMHCHoughton Mifflin reports Q4 EPS (59c), consensus (31c)
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07:27 EDTHMHCHoughton Mifflin sees FY15 revenue up 2%-5% over FY14, consensus $1.43B
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February 25, 2015
16:38 EDTOASOasis Petroleum sees 2015 total capital expenditure budget $705M
Oasis Petroleum expects a $705M total capital expenditure budget for 2015, with approximately 80% allocated for drilling and completion CapEx. It is targeting average daily production to range between 45,000 to 49,000 Boepd, representing an approximate 3% increase at the midpoint of 2015 over 2014 average daily production. The company said it is exploring financing opportunities for Oasis Midstream Services. OMS assets have historically included primarily salt water disposal ("SWD") pipelines and wells. In
16:37 EDTOASOasis Petroleum reports Q4 adjusted EPS 35c, consensus 57c
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February 24, 2015
16:42 EDTNYMTNew York Mortgage reports Q4 EPS 42c vs. 34c last year
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06:52 EDTSPLSOffice Depot says acquisition by Staples to close by end of 2015
February 23, 2015
19:40 EDTHUMLeerink healthcare services analyst holds an analyst/industry conference call
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16:27 EDTHUMOn 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.
12:21 EDTHUMOn The Fly: Midday Wrap
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11:10 EDTHUMHealth insurers rise after CMS releases preliminary Medicare Advantage rates
The shares of a number of health insurers are rising 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 health insurers. WHAT'S NEW: On Friday after the market closed, CMS issued a proposal for 2016 Medicare Advantage rates. The rates are preliminary and could change when CMS announces the final 2016 rates on April 6 of this year, the agency noted. In a note to investors earlier today, Credit Suisse analyst Ralph Giacobbe estimated that, under CMS' initial proposal, insurers would see rate changes of between -1% and +1%, depending on the risk that each insurer faces. The preliminary rates were "favorable" for insurers, since the rates were "in-line if not slightly better" than investors had expected, the firm stated. Moreover, CMS decided not to restrict at-home health risk assessments, as had been feared, and agreed to reduce the weighting of certain risk factors that had hurt previously certain plans with a higher proportion of low-income beneficiaries, acceding to a request by insurers. Insurers with the highest exposure to Medicare Advantage include Humana (HUM), UnitedHealth (UNH), and WellCare (WCG), the analyst stated. WHAT'S NOTABLE: After analyzing CMS' proposal, health insurer Aetna (AET) estimated that the proposal would cause government funding for its Medicare Advantage business to decline by about 1% in 2016. Aetna added that it is continuing to evaluate the changes outlined in the Advance Notice and their impact on the company and its Medicare Advantage members. OTHERS TO WATCH: Other publicly traded health insurance companies include Anthem (ANTM), AMERIGROUP (AGP), Centene (CNC), Cigna (CI), Health Net (HNT), Healthspring (HS), and Molina Healthcare (MOH). PRICE ACTION: In mid-morning trading, Humana climbed 5.3% to $164.43, UnitedHealth rose 2.6% to $115.56, WellCare gained 6.3% to $90, Aetna advanced 2% to $99.91, and Centene added 3.4% to $61.93.
09:33 EDTHUMHumana 'evaluating all operational avenues' after CMS notice
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08:10 EDTVMEMViolin Memory signs EMEA distribution agreement with Arrow
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08:05 EDTHUMCMS releases preliminary Medicare Advantage rates for 2016
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February 20, 2015
10:01 EDTSBLKOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Advanced Drainage (WMS) initiated with an Outperform at Boenning & Scattergood... Arctic Cat (ACAT) initiated with a Hold at BB&T... Ardmore Shipping (ASC) initiated with an Accumulate at Global Hunter... Baltic Trading (BALT) initiated with a Speculative Buy at Global Hunter... Cash America (CSH) initiated with a Buy at Jefferies... Costamare (CMRE) initiated with an Accumulate at Global Hunter... DHT Holdings (DHT) initiated with a Buy at Global Hunter... Danaos (DAC) initiated with a Neutral at Global Hunter... Diana Containerships (DCIX) initiated with a Neutral at Global Hunter... Diana Shipping (DSX) initiated with a Neutral at Global Hunter... Euronav NV (EURN) initiated with a Buy at Global Hunter... Forest City (FCE.A) initiated with a Neutral at Citigroup... Fox Factory (FOXF) initiated with a Hold at BB&T... Frontline (FRO) initiated with an Accumulate at Global Hunter... Global Ship Lease (GSL) initiated with a Neutral at Global Hunter... GrubHub (GRUB) initiated with an Overweight at Barclays... Jazz Pharmaceuticals (JAZZ) initiated with an Outperform at BMO Capital... Kinder Morgan (KMI) reinstated with an Overweight at Barclays... Liberty Broadband (LBRDA) initiated with an Outperform at FBN Securities... Liberty Interactive (QVCA) initiated with a Sector Perform at FBN Securities... Liberty Media (LMCA) initiated with an Outperform at FBN Securities... MEI Pharma (MEIP) initiated with a Buy at BofA/Merrill... Navios Acquisition (NNA) initiated with a Buy at Global Hunter... Polaris Industries (PII) initiated with a Buy at BB&T... Raven (RAVN) initiated with an Equal Weight at Stephens... Scorpio Bulkers (SALT) initiated with a Speculative Buy at Global Hunter... Scorpio Tankers (STNG) initiated with an Accumulate at Global Hunter... Seaspan (SSW) initiated with a Neutral at Global Hunter... Star Bulk Carriers (SBLK) initiated with a Speculative Buy at Global Hunter... Tsakos Energy (TNP) initiated with a Buy at Global Hunter... U.S. Concrete (USCR) initiated with an Overweight at Stephens.
07:28 EDTSBLKStar Bulk Carriers initiated with a Speculative Buy at Global Hunter
Target $13.
07:20 EDTSPLSWal-Mart wage increase may pressure Target, Staples, Reuters says
Wal-Mart's (WMT) wage increase announcement will likely pressure the retail, fast-food, and restaurant sectors to potentially follow suit, reports Reuters, citing an Edward Jones analyst and the managing director of consultancy firm Strategic Resource Group. The analysts specifically named Target (TGT) and Staples (SPLS). Reference Link
February 19, 2015
10:42 EDTHUMHumana discloses DoJ Civil Division request for information
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February 18, 2015
11:39 EDTPNFPPinnacle Financial acquires 30% interest In Bankers Healthcare Group
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06:56 EDTHUMObamacare enrollment exceeded goal, Politico reports
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