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Stock Market & Financial Investment News

News Breaks
November 7, 2012
10:41 EDTWLP, MIPS, ESRX, THS, HUM, EOG, QLTY, FNF, DRH, AOL, DRLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AOL (AOL) downgraded to Underperform from Outperform at CLSA... DiamondRock (DRH) downgraded to Sell from Neutral at Goldman... Doral Financial (DRL) downgraded to Neutral from Buy at B. Riley... EOG Resources (EOG) downgraded to Hold from Buy at Societe Generale... Express Scripts (ESRX) downgraded to Buy from Conviction Buy at Goldman... Fidelity National (FNF) downgraded to Equal Weight from Overweight at Stephens... Humana (HUM) downgraded to Neutral from Buy at BofA/Merrill... MIPS Technologies (MIPS) downgraded to Hold from Buy at Craig-Hallum... MPG Office Trust (MPG) downgraded to Sell from Hold at Stifel Nicolaus... Quality Distribution (QLTY) downgraded to Neutral from Buy at SunTrust... TreeHouse Foods (THS) downgraded to Underperform from Neutral at Credit Suisse... Wellpoint (WLP) downgraded to Underperform from Buy at BofA/Merrill.
News For AOL;DRH;DRL;EOG;ESRX;FNF;HUM;MIPS;QLTY;THS;WLP From The Last 14 Days
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April 22, 2014
07:25 EDTAOLNatural E Creative Group to hold a summit
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April 21, 2014
09:47 EDTESRXExpress Scripts' TriCare contract renewal removes an overhang, says UBS
UBS said Express Scripts successful renewal of the TriCare/Department of Defense PBM contract removes an overhang and should contribute 25c-30c to 2014 earnings. The firm expects shares to react positively and reiterates its Buy rating and $72 price target.
09:38 EDTESRXExpress Scripts TRICARE contract removes key overhang, says Citigroup
Citigroup believes the Express Scripts retaining the Department of Defense's TRICARE Pharmacy Program contract removes a key overhang on the stock and validates the company's business model. Citi reiterates a Buy rating on Express Scripts with a $92 price target.
07:42 EDTTHSTreeHouse Foods to host conference call
Conference call to discuss the acquisition of Protenergy Natural Foods for $150M will be held on April 21 at 9 am. Webcast Link
07:04 EDTTHSTreeHouse Foods backs FY14 EPS $3.50-$3.60, consensus $3.57
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07:03 EDTTHSTreeHouse Foods backs Q1 EPS 77c-80c, consensus 79c
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07:02 EDTTHSTreeHouse Foods to acquire Protenergy Natural Foods for $150M
TreeHouse Foods announced that it will acquire Protenergy Natural Foods, a developer and manufacturer of premium quality food and beverage products, namely private label broth, soups and gravies. TreeHouse has agreed to pay Whitecastle Investments Limited, Whitecap Venture Partners and others approximately $150M in cash for the business, subject to an adjustment for working capital. The company expects the transaction to have approximately 5c-7c EPS impact on 2014 earnings and add approximately 11c-15c in EPS in 2015. The transaction is expected to close late in the second quarter, subject to the satisfaction of customary closing conditions, and will be financed through borrowings under TreeHouse's existing credit facility. Protenergy had 2013 sales of approximately C$130M for the twelve months ended December 31, 2013. Following the acquisition, TreeHouse anticipates pro forma 2014 sales of approximately $2.7B and adjusted EBITDA of approximately $385M.
April 19, 2014
18:41 EDTESRXExpress Scripts awarded 7-year TRICARE Pharmacy Program contract
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April 17, 2014
12:53 EDTWLPOn The Fly: Midday Wrap
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10:51 EDTWLP, HUMHealth insurers slide after UnitedHealth results, cautious comments
Shares of a number of health insurers are falling after the largest company in the sector, UnitedHealth (UNH), reported slightly higher than expected first quarter profit but lower than expected revenue. WHAT'S NEW: UnitedHealth's first quarter earnings per share came in at $1.10, versus the consensus outlook of $1.09. The insurer reported revenue of $31.71B, compared with the consensus outlook of $31.99B. Taxes levied by the Affordable Care Act and weak funding of Medicare Advantage by the government weighed on UnitedHealth's earnings, the company stated. Also pushing down the company's earnings was "a very expensive," new Hepatitis C therapy, UnitedHealth stated on its earnings conference call. Hepatitis C treatments cost UnitedHealth hundreds of millions of dollars in the first quarter, the company stated, though it also noted that demand for the treatments should drop going forward as initial pent-up demand for them starts to decline. The company indicated that it was looking to be reimbursed by states for the money it is spending on hepatitis vaccines for Medicaid patients. Meanwhile, UnitedHealth reiterated its fiscal 2014 EPS guidance of $5.40-$5.60 and its fiscal 2014 revenue guidance of $128B-$129B. PRICE ACTION: In mid-morning trading, UnitedHealth sank 3.7% to $75.31. Other health insurers also declined, with WellPoint (WLP) dropping 4% to $91.89, Aetna (AET) falling 3.3% to $67.54, Humana (HUM) declining 2.25% to $106.35, and Health Net (HNT) sliding 1% to $31.74.
April 16, 2014
12:01 EDTHUMHumana, Dignity Health sign agreement
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10:08 EDTHUM, WLPUnitedHealth retreats after Citi cuts rating on shares
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09:01 EDTWLPWellPoint names Martin Silverstein as Chief Strategy Officer, effective April 28
WellPoint announced Martin Silverstein, M.D., has been named chief strategy officer, effective April 28. In this role, Dr. Silverstein will oversee WellPoint’s enterprise marketing, corporate development and strategy functions, and will be responsible for short and long-term strategic planning to ensure the company is maximizing the value of its assets and capturing growth across its geographies and businesses. Silverstein joins WellPoint from The Boston Consulting Group where he was a Senior Partner and Managing Director.
April 15, 2014
10:00 EDTEOGOn The Fly: Analyst Downgrade Summary
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08:53 EDTEOGEOG Resources downgraded to Sector Perform from Outperform at Howard Weil
08:01 EDTAOLAOL launches premium video experience
AOL.com is launching a new premium video experience today. The experience will be programmed dynamically based on the insights around the AOL.com audience’s daily video viewing habits. This new experience on AOL.com expands on the success of the AOL On Network.
06:32 EDTWLP, HUMPatients paying much more for specialty drugs, NY Times says
The amount that patients with certain diseases must pay for specialty drugs has increased significantly, a research firm reported, according to The New York Times. Meanwhile, consumers' use of health care increased in 2013 for the firm time in three years, the newspaper quoted the firm, the IMS Institute for Healthcare Informatics, as saying. Publicly traded drug makers include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY). Publicly traded health insurers include AMERIGROUP (AGP), Aetna (AET), Centene (CNC), Cigna (CI), Health Net (HNT), Healthspring (HS), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH), WellCare (WCG) and WellPoint (WLP).Reference Link
April 10, 2014
15:56 EDTWLPWellCare rumored to be takeover target, Betaville blog says
Wellcare (WCG) which has previously been speculated as a takeover target by analysts, is being studied as a target by Wellpoint (WLP), according to the Betaville blog, which cites sources familiar with the matter. Shares of WellCare, which have been lower throughout the session, briefly spiked following the blog post, but have returned to negative territory in late afternoon trading. Reference Link
April 9, 2014
11:43 EDTESRXGilead defended by analysts after recent pullback
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08:41 EDTESRXAttack on Gilead Sovaldi by Express Scripts 'noise,' says Maxim
After Bloomberg reported that Express Scripts (ESRX) said that it would attempt to build a coalition against the use of Gilead's (GILD) Sovaldi once a rival drug is approved, Maxim views Express Scripts' statement as "noise." The firm says that Sovaldi is not the most expensive HCV drug, and reiterates its view that Sovaldi provides "compelling" value, when including the cost of failure rates in a cost/benefit analysis. Maxim keeps a Buy rating on Gilead.
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