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Stock Market & Financial Investment News

News Breaks
August 15, 2014
10:01 EDTARCW, GRA, VRTU, PANW, NXPI, NPSP, MBWM, KPLUF, ICPT, GILD, GIII, ENTA, ACHN, IGTEOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: ARC Group (ARCW) initiated with a Buy at Janney Capital... Achillion (ACHN) initiated with an Outperform at FBR Capital... Enanta (ENTA) initiated with an Outperform at FBR Capital... G-III Apparel (GIII) initiated with a Buy at Wunderlich... Gilead (GILD) initiated with an Outperform at FBR Capital... Intercept (ICPT) initiated with an Underperform at FBR Capital... K+S (KPLUF) initiated with a Sell at Goldman... Mercantile Bank (MBWM) initiated with a Buy at Sandler ONeill... NPS Pharmaceuticals (NPSP) initiated with an Outperform at FBR Capital... NXP Semiconductors (NXPI) initiated with a Buy at Stifel... Palo Alto (PANW) initiated with an Outperform at Imperial Capital... Virtusa (VRTU) initiated with a Buy at Maxim... W.R. Grace (GRA) initiated with a Buy at UBS... iGATE (IGTE) initiated with a Buy at Maxim.
News For ARCW;ACHN;ENTA;GIII;GILD;ICPT;KPLUF;MBWM;NPSP;NXPI;PANW;VRTU;GRA;IGTE From The Last 14 Days
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October 10, 2014
14:27 EDTNXPINXP Semiconductors breaks long-term uptrend line, levels to watch
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14:08 EDTGILDGilead 12-week regimen of Harvoni to cost $94.5K
Gilead said its newly-approved treatment of hepatitis C genotype 1 infection, Harvoni, will be priced at $94,500 for a full 12 week regiment, according to multiple media outlets, which cite a company spokesperson.
13:55 EDTGILDGilead confirms FDA approval of Harvoni
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13:50 EDTNXPINXP Semiconductors buy on weakness, says Sterne Agee
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13:42 EDTGILDGilead hepatitis C treatment Harvoni approved by FDA
The FDA announced the approval of Harvoni to treat chronic hepatitis C virus genotype 1 infection. Harvoni is the first combination pill approved to treat chronic HCV genotype 1 infection, the agency stated. It is also the first approved regimen that does not require administration with interferon or ribavirin, two FDA-approved drugs also used to treat HCV infection, it added. Harvoni is marketed by Gilead.
13:40 EDTGILDFDA approves Gilead hepatitus C treatment Harvoni
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10:29 EDTNXPIMicrochip CEO warning on industry correction sinks semiconductors
Shares of a number of semiconductor makers are falling sharply after one of the companies in the space, Microchip Technology (MCHP), warned that it believes the sector had entered a correction. In a note to investors today, research firm FBR Capital said Microchip's comments "could be worrisome, " and the firm responded by taking a more defensive stance on the space. WHAT'S NEW: Microchip, which develops microcontroller and analog semiconductors, estimated that its second quarter revenue would come in at $546.2M, versus its previous guidance of $560.0M-$575.9M and analysts' consensus estimate of $568M. The company said that it had experienced a number of negative trends during the quarter, including a weaker than usual September, weakness in China, and significant inventory builds at its distributor customers. Microchip President and CEO Steve Sanghi claimed his company often sees the turn of the semiconductor industry ahead of others, noting that it reports sales from distribution on a sell-through basis and built a significant amount of inventory in the distribution channel in the September quarter and that it does business with over 80,000 customers. Sanghi stated, "We believe that another industry correction has begun and that this correction will be seen more broadly across the industry in the near future. ANALYST REACTION: In a note to investors today, FBR Capital analyst Christopher Rolland said that Microchip's statements come in the wake of other negative signs for the sector. In August and September, lead times for the sector fell versus the month before, the analyst stated. Additionally, revenue trends at Taiwanese chip makers weakened in August, Rolland stated. The analyst said that Microchip's statements pushed him over the fence, causing him to take a more defensive stance on the sector. He removed ON Semiconductor (ONNN) from FBR's Top Picks list but kept an Outperform rating on the stock, as he believes that its valuation is "very reasonable." Rolland maintained Market Perform ratings on Atmel (ATML), Texas Instruments (TXN), Fairchild (FCS), AMD (AMD), and Applied Micro Circuits (AMCC). Sterne Agee also attributed weakness in the sector to Microchip's warnings, but the firm recommended buying NXP Semiconductors (NXPI), Avago (AVGO), and Skyworks (SWKS) due to their strong product cycles with EMV and upcoming iPhone-iPad launches from Apple (AAPL). In addition, the firm said it would buy Micron (MU) and SanDisk (SNDK) given tight supply, below normal inventory levels, and tailwinds from China. PRICE ACTION: In early trading, Microchip dropped nearly 14% to $39.29, Intel (INTC) fell almost 6% to $31.67, On Semiconductor slid 10% to $7.53, Atmel tumbled 11.5% to $6.61, Texas Instruments slipped 8% to $42.16, Fairchild slumped 10.6% to $12.95, AMD dropped 6% to $2.77, Applied Micro declined 10% to $6.19, and NXP Semiconductors was 14% lower to $55.27.
10:20 EDTNXPISemiconductors defended at Sterne Agee
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08:19 EDTGILDMedivir announces Janssen initiates enrolment in phase II IMPACT study
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07:21 EDTGILDFDA PDUFA Date for Gilead Sciences Sofosbuvir is October 10, 2014
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05:59 EDTACHNStocks with implied volatility above IV index mean; AVP ACHN
Stocks with implied volatility above IV index mean; Avon Products (AVP) 61, Achillion (ACHN) 200 according to iVolatility.
October 9, 2014
16:25 EDTARCWOn The Fly: Closing Wrap
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11:43 EDTGILDStocks with call strike movement; GILD EWZ
Gilead (GILD) February 120 call option implied volatility increased 3% to 38, MSCI Brazil Index (EWZ) February 58 call option implied volatility increased 3% to 38 according to IVolatility.
10:00 EDTARCWOn The Fly: Analyst Downgrade Summary
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09:03 EDTICPTIntercept pullback a buying opportunity, says Summer Street
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08:28 EDTGILDGilead to be challenged by AbbVie in HCV near-term, says Bernstein
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07:26 EDTARCWARC Group price target lowered to $25 from $30 at Brean Capital
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06:44 EDTARCWARC Group downgraded to Hold from Buy at Canaccord
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06:40 EDTPANWSource 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
06:08 EDTACHNStocks with implied volatility above IV index mean; AVP ACHN
Stocks with implied volatility above IV index mean; Avon Products (AVP) 60, Achillion (ACHN) 195 according to iVolatility.
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