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Stock Market & Financial Investment News

News Breaks
February 7, 2014
09:58 EDTDO, CS, CHK, SPR, OUTR, WWWW, CI, PMFG, RSTI, PRGO, VRSN, MMS, LOW, G, ELON, IRBT, FWM, AOL, GHDX, FLDMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AOL (AOL) downgraded to Neutral from Buy at BofA/Merrill... Echelon (ELON) downgraded to Hold from Buy at Needham... Fairway Group (FWM) downgraded to Hold from Buy at BB&T... Fluidigm (FLDM) downgraded to Market Perform from Outperform at Cowen... Genomic Health (GHDX) downgraded to Neutral from Outperform at Credit Suisse... Genpact (G) downgraded to Neutral from Overweight at JPMorgan... iRobot (IRBT) downgraded to Underweight from Neutral at JPMorgan... Lowe's (LOW) downgraded to Neutral from Buy at Goldman... Maximus (MMS) downgraded to Neutral from Buy at Citigroup... PMFG, Inc. (PMFG) downgraded to Hold from Buy at Stifel... Spirit AeroSystems (SPR) downgraded to Hold from Buy at KeyBanc... VeriSign (VRSN) downgraded to Sell from Neutral at Citigroup... Cigna (CI) downgraded to Neutral from Positive at Susquehanna... Chesapeake (CHK) downgraded to Sector Perform from Outperform at Howard Weil... Perrigo (PRGO) downgraded to Neutral from Buy at B. Riley... Web.com (WWWW) downgraded to Hold from Buy at Craig-Hallum... Credit Suisse (CS) downgraded to Neutral from Outperform at Macquarie... Rofin-Sinar (RSTI) downgraded to Neutral from Buy at Longbow... Outerwall (OUTR) downgraded to Market Perform from Outperform at Northland Securities... Diamond Offshore (DO) downgraded to Sell from Neutral at Global Hunter.
News For AOL;ELON;FLDM;FWM;G;GHDX;IRBT;LOW;MMS;PMFG;SPR;VRSN;CI;CHK;PRGO;WWWW;CS;RSTI;OUTR;DO From The Last 14 Days
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May 18, 2015
11:15 EDTCHKStocks with call strike movement; CHK RIG
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10:37 EDTAOLOptions with decreasing implied volatility
Options with decreasing implied volatility: NLNK ARWR CTRP ZIOP CLNE ARIA VHC AOL KING XON PEIX
10:01 EDTCHKOn The Fly: Analyst Downgrade Summary
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08:32 EDTCSOvaScience announces Ravi Mehrotra as Chief Corporate Development Officer
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08:22 EDTAOLVerizon deal has multiple positive catalysts, says Wells Fargo
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08:05 EDTGHDXGenomic Health announces results from study on methods to detect bladder cancer
Genomic Health announced positive results from a second, larger liquid biopsy feasibility study demonstrating the Company's ability to detect tumor-specific DNA in urine, which is expected to enable bladder cancer recurrence monitoring. It is estimated that early-stage bladder cancer recurs in only 10 to 15 percent of patients in the first year, and in more than half of patients over time. However, approximately one-third of all cystoscopies a procedure using a thin instrument equipped with a camera and light to look at the inside of the bladder generate false positive results. Genomic Health and its collaborators used the Company's next-generation sequencing and polymerase chain reaction based platforms and refined methodology to target tumor-specific differential DNA methylation and single nucleotide variations. In the study, researchers identified tumor-specific DNA markers in 94 percent of tissue samples and found a strong association between the same markers in urine. These findings are expected to enable accurate monitoring for cancer recurrence in the urine of early-stage bladder cancer patients.
07:52 EDTAOLAOL Platforms launches One by AOL: Video in Brazil
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06:39 EDTCHKChesapeake downgraded to Neutral from Buy at Goldman
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06:38 EDTFLDMFluidigm shares offer attractive entry point, says Leerink
Leerink believes the current share of Fluidigm represents an attractive entry point ahead of the company's new product launches. The firm thinks Fluidigm is well positioned to benefit from the growth in single cell analysis. It keeps an Outperform rating on the name with a $45 price target.
May 15, 2015
16:35 EDTCHKIcahn Associates gives quarterly update on stakes
NEW STAKES: None. INCREASED STAKES: Manitowoc (MTW), Voltari (VLTC), Federal-Mogul Holdings (FDML), and Chesapeake Energy (CHK). DECREASED STAKES: None. LIQUIDATED STAKES: None.
16:21 EDTAOLStocks end week little changed as data, deals offset bond yield jumps
Stocks ended the week little changed as a number of M&A deals and a few relatively strong economic data points offset worries about rising bond yields. MACRO NEWS: U.S. weekly jobless claims came in better than expected and reached the lowest four-week average level in 15 years... In Europe, the combined GDP of the 19 eurozone countries grew 0.4% in the first quarter, which was a bit weaker than the 0.5% consensus growth forecast but a pickup from the 0.3% growth pace of the final quarter of last year. Of note, all four of the euro zone's largest economies recorded growth in the same quarter for the first time since the first half of 2010... The People's Bank of China reduced its one year interest rate by 0.25%, marking the third time in the last six months that the central bank has cut benchmark rates... Bond yields surged in many of the world's largest economies, raising worries about inflation and putting pressure on stocks in the beginning of the week. COMPANY NEWS: There was a significant amount of M&A activity again this week, with the headliner being Verizon's (VZ) deal to acquire AOL (AOL) for $50 per share in a transaction valued at $4.4B. Danaher (DHR) agreed to buy purification technologies supplier Pall Corporation (PLL) for $127.20 per share in cash. Danaher also announced that it plans to split itself into two publicly traded companies. Energy infrastructure company Williams (WMB) announced a simplification deal to buy its affiliate Williams Partners (WPZ) for $13.9B in an all-stock transaction. Energy exploration company Noble Energy (NBL) agreed to acquire Rosetta Resources (ROSE) in an all-stock deal. Noble is buying Rosetta for $2.1B in stock plus the assumption of Rosetta's net debt of $1.8B... Alibaba (BABA) acquired a 9.3% stake in Zulily (ZU), an e-commerce retailer geared toward women. A person familiar with the matter reportedly told the Wall Street Journal that the Chinese e-commerce giant is not pursuing an outright acquisition of the U.S. company, however... Shares of Netflix (NFLX) jumped Friday and hit a new all-time high after Bloomberg reported that the company is in talks with Wasu Media, a Chinese media company backed by Alibaba Executive Chairman Jack Ma, about forming a partnership to bring its content to China... Nelson Peltz's Trian Fund Management lost its proxy fight with DuPont (DD) as Trian did not succeed in getting its nominees elected to the DuPont board. INDEXES: For the week, the Dow rose 0.45% to 18,272.56, the Nasdaq gained 0.89% to 5,048.29, and the S&P 500 climbed 0.31% to 2,122.73.
11:02 EDTGHDXGenomic Health says Oncotype DX shown to lower overall healthcare costs
Genomic Health announced results from three studies that show the real-world positive impact of the Oncotype DX Genomic Prostate Score and the test's value in managing healthcare costs associated with treatment decisions in low-risk patients. An analysis of the performance of the Oncotype DX GPS in the first 4,000 men tested showed that the test refined patient risk for one in four men across all groups of patients, the company said. In a separate study, researchers analyzed the clinical and economic implications of adding GPS to risk assessment compared to clinical and pathological assessment alone in the management of clinically low-risk prostate cancer. Results showed incorporating GPS into prostate cancer management resulted in a cost reduction of approximately $2,000 per patient in the first three years after diagnosis.
10:55 EDTIRBTJANA Partners gives quarterly update on stakes
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10:45 EDTCHKStocks with call strike movement; CHK RIG
Chesapeake (CHK) October 17 call option implied volatility increased 2% to 45, Transocean (RIG) August 21 call option implied volatility increased 4% to 42 according to IVolatility.
10:20 EDTAOLOptions with decreasing implied volatility
Options with decreasing implied volatility: NLNK ARWR CTRP RAX KING AOL WPZ RL Z MBI
09:03 EDTLOWBofA/Merrill says to buy Home Depot, Lowe's and Whirlpool
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08:46 EDTAOLMobile operators ad blocking plan sets up fight with Google, FT reports
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08:35 EDTELONEchelon now sees Q2 EPS (7c)-(4c) vs. previous view of (8c)-(5c)
Consensus is (6c). For Q2 2015, the lease termination agreement results in a revised estimated non-GAAP loss of ($0.04) to ($0.07) per share versus the previous guidance of ($0.05) to ($0.08). On a GAAP basis for the second quarter of 2015, the lease termination results in a revised estimated loss of ($0.05) to ($0.08) per share versus the previous guidance of ($0.07) to ($0.10). Once the company moves to a new, right-sized headquarters in Q1 2016, both GAAP and non-GAAP savings are estimated to improve by approximately $800,000 per quarter. Among other things, as a result of the lease termination, the net book value of the buildings will be reduced to approximately $5.0 million, which will then be amortized over the remainder of 2015 in conjunction with the new short-term lease. In addition, for GAAP purposes, the company will record a one-time benefit in the second quarter associated with the termination of the lease of approximately $1.5 million.
08:34 EDTELONEchelon retires $21.4M of long term facilities lease obligations
Echelon Corporation announced that it has reached an agreement with the landlord of its 150,000 square foot San Jose, CA headquarters related to the long-term leases for office space the company no longer requires. Under the terms of the agreement, the existing leases, which run through 2020, have been terminated and replaced with a short-term lease for a smaller portion of the facility that will run through the remainder of 2015. In return for this early termination, the company has agreed to a one-time up front cash payment of $10M and lease payments for the balance of 2015 totaling $900,000. This will eliminate the remaining lease obligation payments of $21.4M. As a result of this transaction, net cash on the balance sheet will increase by approximately $5.5 million. On a non-GAAP basis, the company estimates facilities related savings will be between $400,000 and $600,000 per quarter for the balance of 2015. On a GAAP basis, the company anticipates that the transaction will result in additional depreciation expense of approximately $1.5M per quarter through the end of 2015 as the remaining building assets are amortized off its balance sheet.
08:31 EDTGHDXGenomic Health announces results from studies of Oncotype DX GPS
Genomic Health announced results from three studies that show the real-world positive impact of the Oncotype DX Genomic Prostate Score and the test's value in managing healthcare costs associated with treatment decisions in low-risk patients. An analysis of the performance of the Oncotype DX GPS in the first 4,000 men tested showed that the test refined patient risk for one in four men across all groups of patients. In a separate study, researchers analyzed Oncotype DX test results from 200 U.S. prostate cancer patients to see how the change in their treatment decision based on the GPS results affected the cost of their treatment. Results showed that immediate treatment costs declined by more than $5,700 per patient. This reduction in costs was associated with increased use of active surveillance from 44 percent to 70 percent of the time. These results indicate that incorporating GPS into treatment decisions can reduce overall healthcare costs within five years. Genomic Health researchers analyzed data compiled from four different Oncotype DX prostate cancer test studies involving 138 African-American patients. Results of this analysis showed that the tumor biology measured by the Oncotype DX GPS was similar between African-American and Caucasian men, reinforcing findings from the second validation study conducted in collaboration with the Uniformed Services University of the Health Sciences' Center for Prostate Disease Research.
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