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Stock Market & Financial Investment News

News Breaks
February 4, 2013
12:16 EDTYOKU, GCI, SONS, BRO, HUM, APKT, CS, CYBX, ORCLOn The Fly: Midday Wrap
Stocks on Wall Street were sharply lower at midday, with the major averages giving back most or all of Friday's gains. The indices began the session deep in negative territory and remain that way near the lunch hour. There was little on the domestic economic calendar to account for the weakness, but some market participants were attributing the move to profit-taking following a strong start to the year along with political concerns resurfacing in Europe... ECONOMIC EVENTS: In the U.S., the ISM New York area reading of 56.7 was ahead of the expected reading of 53.0. A separate report showed factory orders increased 1.8% in December, versus an expected increase of 2.3%. In Europe, Spanish and Italian government bond yields rose following political developments in both countries. Spain's opposition Socialist Party called on Prime Minister Mariano Rajoy to resign over a corruption scandal, while in Italy former PM Silvio Berlusconi's popularity is seeing a resurgence, which may threaten the reforms implemented by the outgoing government. In Asia, a report over the weekend showed China's non-manufacturing PMI ticked up to 56.2 from 56.1 last month... COMPANY NEWS: Shares of Acme Packet (APKT) surged 22.2% and traded at the $29.25 price it agreed to in a deal to be acquired by Oracle (ORCL). Several companies offering solutions in the same technology area advanced as well, particularly Sonus Networks (SONS), which climbed over 13%. Meanwhile, Oracle slid a bit more than 2% following the deal announcement... Among companies reporting earnings this morning, Humana (HUM) advanced while Gannett (GCI) declined... MAJOR MOVERS: Among the notable gainers was Cyberonics (CYBX), which rallied 8% after a former employee dropped a lawsuit against the company. Also higher were shares of Brown & Brown (BRO), which rose 5.5% after it reported quarterly results after the bell Friday and was upgraded to Outperform at Raymond James this morning. Among the noteworthy losers were Youku Tudou (YOKU), which fell over 6% after Maxim downgraded shares to a Sell rating, and Credit Suisse (CS), down nearly 6% as well following an initiation of coverage with a Hold rating at Canaccord... INDICES: Near noon, the Dow was down 139.75, or 1.00%, to 13,870.04; the Nasdaq was down 41.09, or 1.29%, to 3,138.01; and the S&P 500 was down 15.94, or 1.05%, to 1,497.23.
News For APKT;SONS;ORCL;HUM;GCI;CYBX;BRO;YOKU;CS From The Last 14 Days
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December 12, 2014
10:01 EDTORCLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: BreitBurn Energy (BBEP) downgraded to Hold from Buy at Wunderlich... CIBC (CM) downgraded to Underperform from Neutral at Credit Suisse... Costco (COST) downgraded to Neutral from Buy at Janney Capital... Discovery (DISCA) downgraded to Sector Perform from Outperform at RBC Capital... Emerald Oil (EOX) downgraded to Neutral from Accumulate at Global Hunter... Goodrich Petroleum (GDP) cut to Underweight on lower oil at JPMorgan... Hain Celestial (HAIN) downgraded to Sector Perform from Outperform at RBC Capital... Hovnanian (HOV) downgraded to Neutral from Buy at Compass Point... Mindray Medical (MR) downgraded to Underweight from Equal Weight at Morgan Stanley... Morgan Stanley (MS) downgraded to Neutral from Buy at Buckingham... Oracle (ORCL) resumed with a Neutral from Overweight at Piper Jaffray... Rackspace (RAX) downgraded to Underperform from Neutral at DA Davidson... Zayo Group (ZAYO) downgraded to Neutral from Buy at BTIG.
07:24 EDTORCLOracle December volatility elevated into Q2 and outlook
Oracle December call option implied volatility is at 40, January is at 26, March is at 22; compared to its 26-week average of 22 according to Track Data suggesting larger near term price movement into the expected release of Q2 results after the close on December 17.
06:40 EDTORCLOracle resumed with a Neutral from Overweight at Piper Jaffray
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06:21 EDTSONSSonus initiated with a Buy at B. Riley
Target $5.25.
December 11, 2014
13:40 EDTCSEuro zone banks accepted $160B in low interest loans, NY Times says
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10:17 EDTCSFINRA fines Barclays Capital, Citigroup Global Markets, others $43.5M total
FINRA announced that it has fined 10 firms a total of $43.5M for allowing their equity research analysts to solicit investment banking business and for offering favorable research coverage in connection with the 2010 planned initial public offering of Toys"R"Us. FINRA fined the following firms. Barclays Capital (BCS) - $5M; Citigroup Global Markets (C) – $ 5M; Credit Suisse Securities (CS) – $5M; Goldman, Sachs & Co. (CS) – $5M; JP Morgan Securities LLC (JPM) – $5M; Deutsche Bank Securities Inc. (DB) – $4M; Merrill Lynch, Pierce, Fenner & Smith Inc. (BAC) – $4M; Morgan Stanley & Co., LLC (MS) – $4M; Wells Fargo Securities, LLC (WFC) – $4M; Needham & Company LLC – $2.5M. In addition, FINRA found that six of the 10 firms — Barclays, Citigroup, Credit Suisse, Goldman Sachs, JP Morgan and Needham — had inadequate supervisory procedures related to research analyst participation in investment banking pitches. Toys"R"Us and its sponsors offered each of the 10 firms various roles in the IPO but it eventually decided not to proceed with the offering. In settling this matter, the 10 firms neither admitted nor denied the charges, but consented to the entry of FINRA's findings.
10:13 EDTSONSOn The Fly: Analyst Initiation Summary
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December 10, 2014
16:18 EDTSONSSonus initiated with a Buy at B. Riley
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14:45 EDTHUMDeal would block payments to health insurance companies, The Hill says
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12:09 EDTYOKUYouku Tudou rises slightly in down market after Credit Suisse upgrade
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11:41 EDTGCIGannett sees 2014 reported revenue up 16%, consensus $5.98B
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11:36 EDTGCIGannett sees Q4 EPS $1.00-$1.02, consensus $1.02
Gannett executives at the UBS Global Media and Communications Conference provided an update on the company's ongoing strategy and gave guidance. CFO Victoria Harker said, "Based on the trends we currently see, we estimate fourth quarter EPS to be in the range of $1.00 to $1.02."
10:56 EDTHUMSaint Luke's enters into agreement with Humana
Saint Luke’s Health System and Humana announced an agreement through which Humana will offer a new health insurance plan to Missourians purchasing insurance through the Missouri Health Insurance Marketplace, also known as an exchange.
09:30 EDTYOKUYouku Tudou upgraded to Outperform from Neutral at Credit Suisse
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07:53 EDTGCIUBS to hold a conference
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December 9, 2014
10:23 EDTSONSOn The Fly: Analyst Initiation Summary
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06:39 EDTSONSSonus initiated with an Outperform at Wedbush
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December 8, 2014
11:51 EDTCYBXCyberonics reports new results from E-36, E-37 studies
Cyberonics announced new results from two multi-site clinical studies of the AspireSR generator, E-36 and E-37, at the AES Annual Meeting in Seattle, Washington. Investigators presented results from the European E-36 study and the U.S. E-37 study, which assessed the acute impact of the AspireSR generator on seizure duration and termination, as well as the long-term evaluation of safety, clinical benefit of the automatic stimulation feature, and quality of life. Assessments of seizure severity and quality of life were made using validated scales scored by patients and physicians. The acute impact of the AspireSR generator on seizure duration and termination was evaluated during the Epilepsy Monitoring Unit stay period experienced by all patients in both studies. Seizure activity was recorded using concurrent video-EEG and ECG monitoring. Patients in both studies experienced termination of seizures as well as reduced seizure duration during automatic stimulation compared to historical controls. The AspireSR generator is currently investigational in the U.S. and not approved for commercial use. The AspireSR generator attained the CE Mark and is now available in an increasing number of European countries.
07:56 EDTCSRBS asks Credit Suisse, others for Coutts bids by Christmas, Reuters says
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December 7, 2014
18:31 EDTCSCredit Suisse assesses prime brokerage business, Reuters says
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