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Stock Market & Financial Investment News

News Breaks
April 23, 2014
10:01 EDTATHN, MDSO, PLD, SANM, SPWR, TE, TMK, VRX, VSI, WOSYY, LL, ILMN, HAFC, AEM, AGN, COG, CREE, ETFC, EFX, FLDM, GSK, GLF, AOSOn The Fly: Analyst Upgrade Summary
A.O. Smith (AOS) upgraded at BMO Capital... Agnico-Eagle (AEM) upgraded to Outperform from Sector Perform at RBC Capital... Allergan (AGN) upgraded to Overweight from Neutral at JPMorgan... Cabot Oil & Gas (COG) upgraded to Buy from Hold at Societe Generale... Cree (CREE) upgraded to Buy from Hold at Summit Research... E-Trade (ETFC) upgraded to Outperform from Market Perform at Wells Fargo... Equifax (EFX) upgraded at Credit Suisse... Fluidigm (FLDM) upgraded to Buy from Neutral at Mizuho... GlaxoSmithKline (GSK) upgraded to Buy from Hold at Argus... GulfMark Offshore (GLF) upgraded to Buy from Neutral at Global Hunter... Hanmi Financial (HAFC) upgraded to Outperform from Market Perform at Fig Partners... Illumina (ILMN) upgraded to Buy from Hold at Maxim... Lumber Liquidators (LL) upgraded to Buy from Neutral at Longbow... Medidata Solutions (MDSO) upgraded to Buy from Neutral at B. Riley... Prologis (PLD) upgraded to Buy from Neutral at ISI Group... Sanmina (SANM) upgraded to Buy from Hold at Craig-Hallum... SunPower (SPWR) upgraded to Buy from Hold at Deutsche Bank... TECO Energy (TE) upgraded to Neutral from Sell at UBS... Torchmark (TMK) assumed with a Market Perform from Underperform at Keefe Bruyette... Valeant (VRX) upgraded to Buy from Hold at TD Securities... Vitamin Shoppe (VSI) upgraded at Sterne Agee... Wolseley (WOSYY) upgraded to Outperform from Neutral at Credit Suisse... athenahealth (ATHN) upgraded to Overweight from Equal Weight at Morgan Stanley.
News For AOS;AEM;AGN;COG;CREE;ETFC;EFX;FLDM;GSK;GLF;HAFC;ILMN;LL;MDSO;PLD;SANM;SPWR;TE;TMK;VRX;VSI;WOSYY;ATHN From The Last 14 Days
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October 9, 2014
13:14 EDTLLLumber Liquidators nearing 52-week low, levels to watch
The shares are down over 4% to $53.50 at time of writing. At that price the 52-week low is nearby support at $52.76. Resistance is at $54.33.
12:47 EDTETFCSEC takes enforcement action against E-Trade over microcaps
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12:28 EDTVRX, AGNAllergan price target raised to $230 from $210 at BTIG
BTIG said it expected Allergan to beat the consensus forecast for Q3 EPS, but not by as much as it did, and the firm did not expect the company to raise its future EPS outlook yet again. BTIG feels the stock's move higher indicates Valeant (VRX) or Actavis (ACT) would need to bid above $200 if they hope to buy the company. BTIG maintains its Buy rating on Allergan and raised its price target on the stock to $230 from $210.
11:14 EDTVRX, AGNAllergan raises outlook again as Valeant pursuit continues
Drug maker Allergan (AGN) this morning preannounced stronger than expected results and again raised its fiscal year profit guidance. The beat and raise results come after The Wall Street Journal reported on Tuesday that drug maker Valeant (VRX) and hedge fund Pershing Square intend to raise their previous bid for Allergan by $15 per share to about $191. Meanwhile, also on Tuesday, Reuters said that drug maker Actavis (ACT) plans to make a new merger offer to Allergan, and sources indicated to the news service that Allergan may be willing to consider an offer from Actavis if the bid is for more than $200 per share. WHAT'S NEW: Allergan estimated that its third quarter earnings per share would come in at $1.76-$1.78, versus analysts' consensus estimate of $1.48. The drug maker had previously provided Q3 EPS guidance of $1.44-$1.47. Allergan raised its fiscal 2014 EPS guidance to $6.20-$6.25 from $5.74-$5.80. Analysts' consensus estimate was $5.81. This is the fourth time that Allergan has raised its guidance this year. Allergan said that its markets have been strong around the world, while it is gaining market share in most categories. ANALYST REACTION: In a note to investors today, Wells Fargo analyst Larry Biegelsen wrote that, in the wake of Allergan's guidance increase, the company's price to earnings multiple could expand to 22x its estimated 2016 earnings, up from its current multiple of 19x. In addition to the raised guidance, a potential accretive acquisition by Allergan and the possibility that it will be acquired make such an increase in the multiple "quite possible," Biegelsen contended. He kept an Outperform rating on the stock. WHAT'S NOTABLE: Allergan has reportedly held advanced talks about acquiring another company in the sector, Salix (SLXP), although CNBC's David Faber on October 2 reported that the talks between the two companies about a merger had "cooled considerably." PRICE ACTION: In late morning trading, Allergan rose fractionally to $191.06 while Valeant slid 1.5% to $124.08.
10:06 EDTCREECree calls active on renewed takeover chatter
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10:00 EDTAGNOn The Fly: Analyst Initiation Summary
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10:00 EDTAEMOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Acuity Brands (AYI) upgraded at Oppenheimer... Agnico-Eagle (AEM) upgraded to Buy from Hold at Desjardins... Apple (AAPL) upgraded to Outperform from Perform at Oppenheimer... Bank of Montreal (BMO) upgraded to Buy from Hold at Canaccord... Basic Energy (BAS) upgraded to Hold from Underperform at Jefferies... BreitBurn Energy (BBEP) upgraded to Outperform from Perform at Oppenheimer... Golden Minerals (AUMN) upgraded at Roth Capital... Helmerich & Payne (HP) upgraded to Buy from Hold at Jefferies... II-VI (IIVI) upgraded to Buy from Neutral at DA Davidson... LivePerson (LPSN) upgraded at Credit Suisse... Luminex (LMNX) upgraded to Market Perform at Cowen... MGM Resorts (MGM) upgraded at Craig-Hallum... New Gold (NGD) upgraded to Buy from Hold at Desjardins... New Source Energy (NSLP) upgraded to Outperform from Perform at Oppenheimer... Pacific Coast Oil (ROYT) upgraded to Buy from Hold at Stifel... Pioneer Energy (PES) upgraded to Buy from Hold at Jefferies... Precision Drilling (PDS) upgraded to Strong Buy from Outperform at Raymond James... Randgold (GOLD) upgraded to Overweight from Neutral at HSBC... Resource Capital (RSO) upgraded to Buy from Hold at MLV & Co.... Toyota (TM) upgraded to Buy from Neutral at BofA/Merrill... Transocean (RIG) upgraded to Outperform from Sector Perform at Iberia... Universal Technical (UTI) upgraded to Outperform from Market Perform at Wells Fargo... Vulcan Materials (VMC) upgraded to Buy from Neutral at Longbow.
09:42 EDTCREERumor: Cree moves up on renewed takeover chatter
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08:57 EDTAEMAgnico-Eagle upgraded to Buy from Hold at Desjardins
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08:50 EDTVRX, AGNAllergan shares have further upside, says Wells Fargo
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07:02 EDTGSKIsis Pharmaceuticals receives $18M milestone payment from GlaxoSmithKline
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06:49 EDTAGNAllergan cites momentum from robust growth of worldwide markets
The company also cites increases in market share in most categories, many regulatory approvals for new products in the U.S. and internationally, and targeted investments to create and grow new products and new categories. Exceptional growth in EPS from the acceleration in sales but also in leveraging of sales and marketing expenditures. The benefits from Allerganís previously announced restructuring program will be reflected in the Companyís actual results beginning in the fourth quarter of 2014 and continuing through 2015.
06:47 EDTAGNAllergan sees FY16 non-GAAP EPS $10.25
06:47 EDTAGNAllergan sees FY15 non-GAAP EPS $8.60, consensus $8.25
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06:47 EDTAGNAllergan sees FY14 non-GAAP EPS $6.20-$6.25, consensus $5.81
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06:46 EDTAGNAllergan raises Q3 EPS to $1.76-$1.78 from $1.44-$1.47, consensus $1.48
Expects Q3 product net sales to increase in excess of 17% in dollars compared to product net sales from 3Q13.
06:40 EDTETFCSource of JPMorgan cyberattack still unclear, NY Times says
The source of the cyberattack on JPMorgan (JPM) and other U.S. financial institutions this summer is still unclear, according to The New York Times. The hackers may have tried to hit about a dozen financial institutions , and E-Trade(ETFC) and Fidelity Investments may have been victimized in some way, the newspaper stated, citing an unnamed source who was briefed on the matter. At least five other banks, including Citigroup (C), HSBC (HBC) and Regions Financial (RF), discovered that one of the web addresses used by those who hacked JPMorgan tried to penetrate their systems, The Times quoted unnamed sources briefed on the matter as saying. Publicly traded companies in the space include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC). Reference Link
06:39 EDTETFCFidelity attacked by JPMorgan hackers, but no data stolen, FT reports
Fidelity Investments was among 13 financial institutions attacked by hackers who are believed to have been responsible for a breach at JPMorgan Chase, but there is no indication that Fidelity customer data were stolen, the Financial Times reports, citing two sources. Reference Link
06:37 EDTETFCJPMorgan hackers linked to 13 other possible breaches, Bloomberg says
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06:34 EDTCREEGlobal LED lighting demand to grow 180%-190% by 2018, DigiTimes Research says
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