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Stock Market & Financial Investment News

News Breaks
February 8, 2013
09:37 EDTTHOR, PNG, IT, CFN, NUAN, TCK, IRG, PLD, DE, BG, RVBD, ITW, CMI, TEVA, ANR, OSK, CYS, SKULOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Alpha Natural (ANR) downgraded to Fair Value from Buy at CRT Capital... Riverbed (RVBD) downgraded to Market Perform from Outperform at FBR Capital... Skullcandy (SKUL) downgraded to Neutral from Buy at Roth Capital... Teva (TEVA) downgraded to Hold from Buy at Canaccord... Bunge (BG) downgraded to Hold from Strong Buy at Feltl... CYS Investments (CYS) downgraded to Neutral from Buy at Compass Point... Deere (DE) downgraded to Buy from Strong Buy at ISI Group... Cummins (CMI) downgraded to Buy from Strong Buy at ISI Group.. Oshkosh (OSK) downgraded to Buy from Strong Buy at ISI Group... Illinois Tool Works (ITW) downgraded to Buy from Strong Buy at ISI Group... Gartner (IT) downgraded to Neutral from Overweight at Piper Jaffray... ProLogis (PLD) downgraded to Hold from Buy at Stifel Nicolaus... Nuance (NUAN) downgraded to Hold from Buy at Stifel Nicolaus... CYS Investments (CYS) downgraded to Hold from Buy at Stifel Nicolaus... PAA Natural Gas Storage (PNG) downgraded to Market Perform from Outperform at Raymond James... Ignite Restaurant (IRG) downgraded to Outperform from Strong Buy at Raymond James... CareFusion (CFN) downgraded to Outperform from Buy at CLSA... Riverbed (RVBD) downgraded to Neutral from Buy at Lazard Capital... Thoratec (THOR) downgraded to Market Perform from Outperform at Northland Securities... Teck Resources (TCK) downgraded to Neutral from Overweight at JPMorgan.
News For ANR;RVBD;SKUL;TEVA;BG;CYS;CMI;DE;OSK;ITW;IT;PLD;NUAN;PNG;IRG;CFN;THOR;TCK From The Last 14 Days
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July 28, 2015
07:07 EDTTEVATeva price target raised to $82 from $73 at Deutsche Bank
Deutsche Bank raised its price target for Teva (TEVA) to $82 saying it likes the acquisition of Allergan's (AGN) generics business. The firm reiterates a Buy rating on the stock.
07:02 EDTTEVAMylan price target lowered to $65 from $82 at Deutsche Bank
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06:43 EDTTEVAMylan price target lowered to $54 from $82 at BMO Capital
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06:31 EDTTEVAMylan's move to Netherlands gave it leverage to resist Teva deal, WSJ says
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06:06 EDTTEVATeva upgraded to Outperform from Market Perform at BMO Capital
BMO Capital analyst David Maris upgraded Teva (TEVA) to Outperform after the company reached a deal to buy Allergan's (AGN) generics business for $40.5B and dropped its proposal to acquire Mylan (MYL). The acquisition looks "very positive" high accretion and significant cost savings, Maris tells investors in a research note. The deal is a "much better option" than Mylan and brings Teva a leading pipeline of generics, Maris writes. He raised his price target for shares of Teva to $80 from $75. The stock closed yesterday up $10.22 to $72.07.
05:39 EDTTEVAAllergan price target raised to $366 from $333 at UBS
UBS analyst Marc Goodman raised his price target for Allergan (AGN) to $366 saying he remains bullish on the stock after the company sold its generics business to Teva (TEVA). The sale was a surprise, but you can't blame Allergan management for selling at that price, Goodman told investors yesterday in a research note titled "An Offer They Couldn’t Refuse." He sees "significant upside potential" in shares of Allergan and keeps a Buy rating on the name. The maker of Botox closed yesterday up $18.99 to $327.20.
July 27, 2015
19:14 EDTTEVATeva could surge to $100 per share, Barron's says
Investors should expect more gains from Teva following the pharmaceutical company's acquisition of Allergan Generics (AGN) and reporting better than expected quarterly results, Barron's contends in its 'Barron's Take' column. Shares could surge to $100.00 per share, the paper adds. Reference Link
18:30 EDTTEVAAllergan CEO pursuing 'transformational deals,' FT says
In a Financial Times interview following the sale of its generics unit to Teva (TEVA), Allergan's (AGN) CEO Brent Saunders stated, "We’re going to contemplate transformational deals... We couldn’t before because of our capital structure and debt, but now we can." When asked about the timing of a potential deal, Saunders remarked, "We’re not going to plod along," and when asked about a hypothetical takeover by Pfizer (PFE), the CEO commented, "I spend zero time thinking about Pfizer and I am not doing anything to make us more or less attractive to them." Reference Link
17:36 EDTTEVAOn The Fly: Top stock stories for Monday
Stocks began the session deep in negative territory, with weakness attributed to the Chinese market suffering its worst one day loss in over eight years. The U.S. indexes remained in the negatives throughout the day as traders prepare for one of the heaviest weeks for this earnings season. ECONOMIC EVENTS: In the U.S., durable goods orders advanced 3.4% in June versus expectations for a 3.2% increase. Excluding transportation items, the core reading was up 0.8% against estimates for a 0.5% gain. In China, the Shanghai composite index fell 8.5% and the Shenzhen composite dropped 7%, with the moves generally attributed to concerns over growth and fears that the government may pull its market support. Note that Dow Jones quoted the country's top securities regulator this morning as saying China plans to increase stock purchases by the state. COMPANY NEWS: Shares of Teva (TEVA) jumped $10.15, or 16.41%, to $72.07 after the generic drugmaker dropped its pursuit of Mylan (MYL), opting instead to acquire Allergan's (AGN) global generic pharmaceuticals business for $40.5B. Allergan shares rose 6.09% for the session, and Mylan fell 14.51% to $56.37 while reiterating its commitment to pursue Perrigo (PRGO), whose shares gained 3.81% to $193.60. MAJOR MOVERS: Among the notable gainers was Wabtec (WAB), which rose $6.59, or 7.21%, to $97.93 after agreeing to buy Faiveley Transport for roughly $1.8B, noting that it expects EPS accretion in 2016. In other M&A news, Magnetek (MAG) finished the session up $17.27, or 53.55%, to $49.52 after Columbus McKinnon (CMCO) agreed to acquire the company for $50 per share, while Beacon Roofing Supply (BECN) jumped $2.62, or 8.71%%, to $32.70 after agreeing to buy Roofing Supply Group at a transaction value of about $1.1B. Also higher were shares of Xueda Education (XUE), which surged 50.63% after Xiamen Insight Investment announced a deal to purchase the company for $5.50 per American Depository Share. Xueda's positive move came in stark contrast to numerous Chinese stocks traded in New York, with Baidu (BIDU) slipping 4.16% and Alibaba (BABA) losing 2.01% after China's Shanghai composite index plunged overnight. Also lower was McGraw Hill Financial (MHFI), declining $6.01, or 5.69%, to $99.59 after agreeing to acquire SNL Financial for roughly $2.225B in cash. Additionally, GrubHub (GRUB) lost 8.37% to $30.99 following a downgrade from Cowen citing competitive concerns and market saturation. INDEXES: The Dow fell 127.94, or 0.73%, to 17,440.59, the Nasdaq lost 48.85, or 0.96%, to 5,039.78, and the S&P 500 declined 12.01, or 0.58%, to 2,067.64.
15:40 EDTCMICummins technical notes ahead of earnings
The key level for the shares is at $125. Ahead of news the stock has slipped below this level. If the news is bearish, a sustained and deeper move below would confirm a double top pattern. The downside potential for the pattern if it completes is to the $98 to $97 area. If the news is a bullish surprise, a move back above $125 would make the pattern inactive. Next upside objectives could be at $130.53, $138.28, and $145.92.
15:03 EDTCMINotable companies reporting before tomorrow's open
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14:23 EDTTEVATeva price target raised to $82 from $73 at Deutsche Bank
12:03 EDTTEVAOn The Fly: Top stock stories at midday
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12:01 EDTTEVAAllergan to use Teva deal proceeds to pursue other deals, Reuters says
Allergan (AGN) CEO Brent Saunders said it will use the $36B it receives from the sale of its generics business to Teva (TEVA) to pursue further acquisitions, Reuters reports, citing a company conference call. Saunders told investors that proceeds from the Teva deal will be used to increase the size of its existing drug businesses, expand into new therapy areas, and seek out larger deals, the report says. Reference Link
10:00 EDTDEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADT Corp. (ADT) upgraded to Buy from Neutral at Citi... AGCO (AGCO) upgraded to Neutral from Sell at Goldman... Anthem (ANTM) upgraded to Buy from Neutral at Sterne Agee CRT... BNP Paribas (BNPQY) upgraded to Buy from Neutral at Goldman... Biogen (BIIB) upgraded on valuation at Bernstein... Box (BOX) upgraded to Overweight from Sector Weight at Pacific Crest... Capital One (COF) upgraded to Buy from Outperform at CLSA... Centene (CNC) upgraded to Buy from Neutral at UBS... Chesapeake (CHK) upgraded on potential sale of assets or company at SunTrust... Cigna (CI) upgraded to Buy from Neutral at Sterne Agee CRT... Deere (DE) upgraded to Neutral from Sell at Goldman... First BanCorp (FBP) upgraded to Buy from Neutral at Guggenheim... Flotek (FTK) upgraded on stronger demand at Oppenheimer... Lear (LEA) upgraded to Buy from Hold at Deutsche Bank... Methanex (MEOH) upgraded to Outperform from Sector Perform at Scotia Howard Weil... News Corp. (NWSA) upgraded to Outperform from Neutral at Macquarie... NextEra Energy Partners (NEP) upgraded to Outperform at Wells Fargo... OFG Bancorp (OFG) upgraded to Buy from Neutral at Guggenheim... PennyMac Mortgage (PMT) upgraded to Buy from Neutral at Compass Point... Pool Corp. (POOL) upgraded to Outperform from Market Perform at William Blair... Popular (BPOP) upgraded to Buy from Neutral at Guggenheim... Qualcomm (QCOM) upgraded to Overweight from Equal Weight at Morgan Stanley... Quality Systems (QSII) upgraded on valuation at RBC Capital... VF Corp. (VFC) upgraded to Buy from Neutral at Goldman... Ventas (VTR) upgraded on valuation, positive catalysts at BMO Capital... Weatherford (WFT) upgraded to Equal Weight from Underweight at Barclays... SS&C (SSNC) upgraded to Buy from Hold at Sandler O'Neill... Chemung Financial (CHMG) upgraded to Buy from Hold at Sandler O'Neill... Cameron (CAM) upgraded to Buy from Accumulate at Global Hunter.
09:21 EDTTEVAOn The Fly: Pre-market Movers
HIGHER: Magnetek (MAG), up 53.5% after Columbus McKinnon (CMCO) agrees to acquire the company... Xueda Education (XUE), up 40.6% after merging with Xiamen Insight Investment... Box (BOX), up 4.6% after being upgraded to Overweight from Sector Weight at Pacific Crest... Goodrich Petroleum (GDP), up 6.4% after announcing sale of proved reserves and a portion of Eagle Ford leasehold. NOTABLE: Teva Pharmaceutical (TEVA), up 10.7% after acquiring Allergan Generics... Allergan (AGN) is up 6.3%... Mylan (MYL), down 14% after Teva withdraws proposal to acquire the company... Perrigo (PRGO), up 3% after Teva withdraws proposal to acquire Mylan. DOWN AFTER EARNINGS: Sohu.com (SOHU), down 6%... Changyou.com (CYOU), down 10.1%. ALSO LOWER: Bellerophon (BLPH) down 63% after announcing results of BCM clinical trial... Terex (TEX), down 4% after being downgraded to Sell from Neutral at Goldman... Ultragenyx Pharmaceutical (RARE), down 3.5% after being downgraded to Equal Weight from Overweight at Morgan Stanley...
08:41 EDTTEVATeva says main markets of overlap with Allergan are U.S., U.K.
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08:32 EDTTEVATeva says healthcare industry shake-up 'just in the middle of its course'
08:27 EDTTEVATeva says intends to review options for remaining stake in Mylan
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08:23 EDTTEVATeva sees capacity to continue executing deals in 2015 and 2016
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