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Stock Market & Financial Investment News

News Breaks
June 9, 2014
09:58 EDTLB, DG, ARCO, MTU, OXM, PFG, SJM, COF, STI, TCP, NVS, FDO, BMRN, GPRE, LPL, SREOn The Fly: Analyst Upgrade Summary
Arcos Dorados (ARCO) upgraded to Buy from Underperform at BofA/Merrill... BioMarin (BMRN) upgraded to Outperform from Neutral at Credit Suisse... Capital One (COF) upgraded to Buy from Neutral at Nomura... Dollar General (DG) upgraded to Buy from Hold at Jefferies... Family Dollar (FDO) upgraded to Buy from Hold at Jefferies... J.M. Smucker (SJM) upgraded to Market Perform from Underperform at Wells Fargo... L Brands (LB) upgraded to Perform from Underperform at Oppenheimer... Novartis (NVS) upgraded to Equalweight from Underweight at Barclays... Principal Financial (PFG) upgraded to Equal Weight from Underweight at Morgan Stanley... Sempra Energy (SRE) upgraded to Buy from Neutral at ISI Group... TC PipeLines (TCP) upgraded to Equal Weight from Underweight at Barclays... Oxford Industries (OXM) upgraded to Buy from Neutral at Sidoti... LG Display (LPL) upgraded to Outperform from Neutral at Macquarie... SunTrust (STI) upgraded to Outperform from Market Perform at Keefe Bruyette... Mitsubishi UFJ (MTU) upgraded to Buy from Neutral at BofA/Merrill...Green Plains (GPRE) upgraded to Overweight from Equal Weight at Stephens.
News For ARCO;BMRN;COF;DG;FDO;SJM;LB;NVS;PFG;SRE;TCP;OXM;LPL;STI;MTU;GPRE From The Last 14 Days
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March 18, 2015
08:57 EDTGPREGreen Plains shares undervalued, says Roth Capital
Roth Capital believes that Green Plains' stock does not yet reflect even a base case scenario for the pending IPO of the company's ethanol terminal and storage assets as an MLP. The firm expects a public S-1 filing for the deal, due in May, to serve as a major catalyst for the shares. It reiterates a $34 price target and Buy rating on the shares.
March 17, 2015
16:58 EDTDGGIC Private Limited reports 5.02% passive stake in Dollar General
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12:51 EDTNVSNovartis hit with $100M gender discrimination lawsuit, Reuters reports
A proposed class action lawsuit against Novartis claims the drug maker routinely denied female employees equal pay and promotional opportunities, reports Reuters. The $110M lawsuit filed on Tuesday says Novartis' Alcon Laboratories maintains a "boy's club atmosphere" that is hostile to women and bars them from leadership positions. Reference Link
10:02 EDTARCOHigh option volume stocks
High option volume stocks: NGL ARCO ENR OIL SNI ESPR CYH WIN CRZO DISH
08:07 EDTARCOArcos Dorados says board has voted not to declare dividend for 2015
The company comments, "We expect this weak operating environment to persist in the short-term and are therefore focused on creating a more efficient and nimble organizational structure. In addition to our ongoing investments in technology to reduce labor costs, we have launched a project to redesign the way we manage and operate our business. We have also made advancements in our analysis of a number of opportunities to extract value from our real estate assets without harming the long-term prospects of our company. Our Board has voted not to declare a dividend for 2015 as we are focused on increasing free cash flow generation, reducing leverage and pursuing a financially disciplined approach to capital allocation in order to significantly enhance shareholder value."
08:07 EDTARCOArcos Dorados reports Q4 EPS 5c, consensus 9c
Reports Q4 revenue $913.6M, consensus $902.66M. Reports Q4 systemwide comparable sales up 15.4%.
07:18 EDTBMRNMyriad Genetics announces collaboration expansion with BioMarin
Myriad Genetics (MYGN) announced an expansion of the company's collaboration with BioMarin Pharmaceutical (BMRN). Under the expanded collaboration, BioMarin will use Myriad's myChoice HRD companion diagnostic test to prospectively identify patients with metastatic breast, ovarian and potentially other tumor types that may be sensitive to talazoparib. Financial terms were not disclosed.
05:32 EDTNVSIncyte announces Novartis receives EC approval for Jakavi
Incyte (INCY) announced that Novartis (NVS) received approval from the European Commission for Jakavi for the treatment of adult patients with polycythemia vera, or PV, who are resistant to or intolerant of hydroxyurea. Jakavi is the first targeted treatment approved by the European Commission for these patients. Under the Incyte-Novartis Collaboration and License Agreement signed in 2009, Novartis received exclusive development and commercialization rights to ruxolitinib outside of the United States for all hematologic and oncologic indications, and sells ruxolitinib under the name Jakavi. Ruxolitinib is marketed by Incyte in the United States as Jakafi. Jakafi is approved by the FDA for treatment of people with polycythemia vera who have had an inadequate response to or are intolerant of hydroxyurea. Jakafi is also indicated for treatment of people with intermediate or high-risk myelofibrosis, or MF, including primary MF, post–polycythemia vera MF, and post–essential thrombocythemia MF.
05:30 EDTNVSNovartis receives EU approval for Jakavi in polycythemia vera
Novartis announced that the European Commission has approved Jakavi for the treatment of adult patients with polycythemia vera, or PV, who are resistant to or intolerant of hydroxyurea. Jakavi is the first targeted treatment approved by the European Commission for these patients. Jakavi is the only JAK 1/2 inhibitor available to treat PV and is also currently approved in more than 80 countries to treat myelofibrosis.
March 16, 2015
15:26 EDTARCONotable companies reporting before tomorrow's open
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10:28 EDTBMRNOptions with increasing implied volatility
Options with increasing implied volatility: PVA NFLX BMRN DNOW MYL TEVA PEP GE
08:25 EDTCOFCapital One reports February net charge-off rate 3.47% vs. 3.57% last month
Reports February 30+ day performing delinquency rate 3.17% vs. 3.31% last month.
March 13, 2015
11:27 EDTFDODollar Tree says FTC has identified 250 stores for divestiture to date
Dollar Tree (DLTR) disclosed in a regulatory filing that, as of March 10, the FTC has identified approximately 250 stores for divestiture, representing approximately $34M of operating income, related to the company's planned acquisition of Family Dollar (FDO). "We expect the FTC to substantially complete its review of all remaining stores in the near future. We continue to estimate that no more than roughly 300 stores will be required to be divested, although we can give no assurance as to the exact number and it could be more or less than 300. In parallel, we have made good progress with divestiture buyers and have received multiple indications of interest from buyers, each of whom intend to operate these divested locations as dollar stores to address the FTC's concerns. We will work to secure FTC approval and finalize divestiture agreements with the selected bidder(s) as soon as practical," the company added. Dollar Tree note that it is working to close the proposed merger as early as April, but it is uncertain whether the FTC will approve the transaction by that date.
11:19 EDTBMRNBioMarin rallies amid positive call on DMD drug timeline, takeover rumor
The shares of drug maker BioMarin (BMRN) are climbing after research firm Jefferies quoted a regulatory expert as saying that the company's drisapersen drug has a good chance of being approved on an accelerated basis by the FDA. Drisapersen is a treatment for Duchenne Muscular Dystrophy, or DMD. WHAT'S NEW: "There is a strong possibility" that the FDA will grant accelerated approval to drisapersen because there is currently no approved drug for the treatment of DMD, Jefferies analyst Eun Yang quoted the expert as saying. The expert is also optimistic about the outlook for accelerated approval because she had a good experience working with BioMarin while she was with the FDA and because BioMarin has a favorable track record with the FDA, according to Yang. There is a 60% chance that drisapersen will be approved by the end of this year and the stock can rise to $155, versus its current level of about $121.50, if that does occur, the analyst stated. Yang's price target on the stock increased to $135 from $125 and the analyst kept a Buy rating on the shares. WHAT'S NOTABLE: Pharmaceutical giant AstraZeneca (AZN) has been rumored to be interested in buying BioMarin for $175 per share in cash, British newspaper Daily Mail reported. , Piper Jaffray analyst Joshua Schimmer wrote in a note to investors this morning that BioMarin, along with Vertex (VRTX) and Incyte (INCY), have a "clear path" to joining the group of companies with market caps of over $10B projected to deliver greater than 20% EPS CAGR, which the analyst identified as a set of criteria that has previously pointed to companies that make good potential takeover targets. PRICE ACTION: In mid-morning trading, BioMarin climbed nearly 4% to $120.
10:09 EDTBMRNHigh option volume stocks
High option volume stocks: ULTA HOG CTIC CTL LOCO IMPV BMRN IMOS ATHX GALE
08:15 EDTDGDollar General price target raised to $84 from $79 at UBS
UBS raised its price target on Dollar General to $84 from $79 following its Q4 report, citing accelerating square footage growth, visible comp drivers, stable gross margins, and its capital return strategy. UBS reiterated its Buy rating on Dollar General shares.
08:09 EDTDGDollar General price target raised to $87 from $75 at Jefferies
Jefferies raised its price target for Dollar General to $87 after management announced a plan to speed up store growth in FY17 to 7%. The firm believes better sales and store growth, the $1.3B buyback plan for this year and the initiation of a dividend should drive the stock higher. It keeps a Buy rating on the name.
08:07 EDTBMRNAstraZeneca rumored to have BioMarin 'on shopping list,' Daily Mail says
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07:39 EDTBMRNBioMarin price target raised to $135 from $125 at Jefferies
Jefferies raised its price target for BioMarin shares to $135 after a regulatory expert it spoke to expressed optimism regarding drisapersen winning accelerated approval. Jefferies sees greater than 30% upside to current share levels should drisapersen get approved by the end of 2015. The firm views BioMarin as well positioned for "meaningful" long-term growth and keeps a Buy rating on the name.
05:40 EDTNVSNovartis to present Cosentyx data at AAD 2015
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