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Stock Market & Financial Investment News

News Breaks
March 14, 2014
20:25 EDTJASO, JASO, LMIA, LMIA, STRL, STRL, TNP, TNP, APRI, APRI, HNR, HNR, INO, INONotable companies reporting before Monday's open
Notable companies reporting before Monday's market open, with earnings consensus, include Apricus Biosciences (APRI), consensus (6c); Harvest Natural Resources (HNR), consensus 10c; Inovio Pharmaceuticals (INO), consensus (3c); JA Solar Holdings (JASO), consensus 1c; LMI Aerospace (LMIA), consensus 4c; Sterling Construction (STRL), consensus ($1.47); and Tsakos Energy Navigation (TNP), consensus (9c).
News For APRI;HNR;INO;JASO;LMIA;STRL;TNP From The Last 14 Days
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August 19, 2014
09:20 EDTJASOReported settlement offer positive for Chinese solar stocks, says Roth Capital
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August 18, 2014
07:35 EDTAPRIApricus Biosciences launches topical ED treatment in Germany
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August 14, 2014
09:19 EDTTNPTsakos Energy commences new partnership
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August 13, 2014
12:16 EDTJASOCanadian Solar soars after results top estimates
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August 12, 2014
07:28 EDTAPRIApricus Biosciences files $100M mixed securities shelf
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07:07 EDTAPRIAspire Capital purchases 1.16M shares of Apricus Biosciences for $2M
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07:05 EDTAPRIApricus Biosciences reports Q2 EPS 5c, consensus (4c)
Reports Q2 revenue $5.5M, consensus $5.45M.
August 11, 2014
16:50 EDTINOOn The Fly: Closing Wrap
Stocks on Wall Street opened in positive territory but were never able to gain any upside momentum. There was little to account for the initial move other than no change to the status quo for Israel and Russia. The averages moved in a narrow range but managed to stay on the plus side into the close, though in lackluster fashion. ECONOMIC EVENTS: In the U.S., no significant economic data was released. In prepared comments for a conference, Federal Reserve Vice Chairman Stanley Fischer said rebounds across advanced economies have been disappointing, leading the Fed and other observers to lower their long-term expectations for growth potential in the U.S. COMPANY NEWS: Shares of Kinder Morgan (KMI) advanced $3.25, or 9.0%, to $39.37 after announcing it will consolidate its oil-and-gas holdings into one company by acquiring all of the outstanding shares of a number of its subsidiaries, including Kinder Morgan Energy Partners (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB). The total transaction has a value of about $70B and the combined entity will be the largest energy infrastructure company in North America and the third largest energy company overall with an estimated enterprise value of approximately $140B, the company said. Afterward, Kinder Morgan was upgraded to Buy from Neutral at BofA Merrill Lynch, though Wells Fargo viewed the plans as mixed near-term. Wells believes the deal helps address some of the structural issues that have been pressuring Kinderís valuation in recent quarters, but it believes itís unclear how the market will ultimately value the new structure and the firm kept its Market Perform rating on all four stocks involved. MAJOR MOVERS: Among the notable gainers was salad and banana distributor Chiquita Brands (CQB), which jumped $3.04, or 30.22%, to $13.10 to close above the $13 per share takeover offer announced by Cutrale Group and the Safra Group. Note that Chiquita previously agreed to combine with Fyffes plc in a stock-for-stock transaction. Also higher was Mattress Firm (MFRM), which advanced $6.52, or 13.58%, to $54.53 after reporting preliminary second quarter results that beat expectations and raising it fiscal year outlook. Among the noteworthy losers following their earnings reports were Walter Investment (WAC), which fell $3.52, or 12.45%, to $24.75, and Inovio (INO), which dropped 99c, or 9.94%, to $8.97. INDEXES: The Dow edged up 16.05, or 0.1%, to 16,569.98, the Nasdaq gained 30.43, or 0.7%, to 4,401.33, and the S&P 500 rose 5.33, or 0.28%, to 1,936.92.
14:28 EDTINOInovio not seeking partner for VGX-3100 right now, says Maxim
Maxim noted that Inovio management indicated it plans to initiate a pivotal phase III study for VGX-3100 in early 2016 and estimated that a pivotal program should cost about $100M. The firm also noted that Inovio is not seeking a partner on the drug right now and that the pivotal trial could move up depending on the company's meeting with the FDA. Maxim maintains a Buy rating and $18 price target on Inovio.
12:42 EDTJASOChina solar company estimates lowered at Credit Suisse
Creidt Suisse lowered estimates on Chinese solar companies due to continued weak pricing and lower margin expectations. The firm expects Q2 reports to be roughly in-line with guidance with reduced Q3 margin expectations.
12:25 EDTINOOn The Fly: Midday Wrap
Stocks on Wall Street opened in positive territory and have remained there throughout the morning. There was little in the way of a catalyst, as the economic calendar was empty, though investors may have been encouraged that there was no breakdown in the ceasefire agreement between Israel and Gaza and no big headlines from the Russia/Ukraine border. Additionally, some may have viewed comments from Fed Vice Chair Fischer as dovish and in support of continued easing. ECONOMIC EVENTS: In the U.S., no significant economic data was released. In prepared comments for a conference, Federal Reserve Vice Chairman Stanley Fischer said rebounds across advanced economies have been disappointing, leading the Fed and other observers to lower their long-term expectations for growth potential in the U.S. COMPANY NEWS: Shares of Kinder Morgan (KMI) advanced 10% after announcing it will consolidate its oil-and-gas holdings into one company by acquiring all of the outstanding shares of a number of its subsidiaries, including Kinder Morgan Energy Partners (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB). In addition to the rise in the shares of the parent, Kinder Morgan Energy shares rose 19%, Kinder Morgan Management gained 25% and El Paso Pipeline moved up 22%. MAJOR MOVERS: Among the notable gainers was salad and banana producer Chiquita Brands (CQB), which jumped 31% to trade above $13 per share after Cutrale Group and the Safra Group proposed to acquire 100% of the company's outstanding stock for $13 in cash each. Also higher was electric car maker Tesla (TSLA), which rose 5% after Deutsche Bank upgraded the stock to Buy from Hold and raised its price target on the shares to $310 from $220. Among the noteworthy losers was social game maker King Digital (KING), which slid 3% after the stock was downgraded at Pacific Crest to Sector Perform from Outperform. Also lower following their earnings reports were Inovio (INO), which fell over 8%, and Gogo (GOGO), which dropped nearly 6%. INDEXES: Near midday, the Dow was up 51.25, or 0.31%, to 16,605.18, the Nasdaq was up 38.19, or 0.87%, to 4,409.08, and the S&P 500 was up 10.12, or 0.52%, to 1,941.71.
08:38 EDTINOInovio reports Q2 EPS (18c), consensus (19c)
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06:33 EDTSTRLSterling Construction sees strong growth in revenue in 2H14
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06:33 EDTSTRLSterling Construction reports Q2 bookings $167M, Q2-end backlog $737M
06:31 EDTSTRLSterling Construction reports Q2 EPS 7c, consensus 7c
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05:54 EDTHNRHarvest Natural reports Q2 adjusted EPS 7c, one estimate 1c
Reports Q2 revenue $243.77M vs. $210.78M last year.
August 8, 2014
07:36 EDTAPRIApricus Biosciences announces multi-year partnership with SRF
Apricus Biosciences announced a multi-year partnership agreement with the Scleroderma Research Foundation, or SRF, to support the foundation's activities and the further progress of SRF's groundbreaking research programs. As part of the partnership, Apricus will co-sponsor an upcoming Scleroderma Research Roundtable Series and plans to participate in SRF's Annual Scientific Workshop and an SRF-sponsored event to take place at the upcoming American College of Rheumatology 2014 Annual Meeting. Apricus' product candidate for the treatment of Raynaud's phenomenon, RayVa, is expected to begin a phase 2a clinical trial in the second half of 2014.
06:33 EDTJASOChina's solar energy capacity growth accelerated, Xinhua reports
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August 7, 2014
07:25 EDTLMIALMI Aerospace repeats guidance for year will not be provided at this time
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07:24 EDTLMIALMI Aerospace reports Q2 EPS (58c), may not compare to consensus 5c
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