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Stock Market & Financial Investment News

News Breaks
August 15, 2014
10:01 EDTENTA, IGTE, PANW, MBWM, GILD, ACHN, GRA, NXPI, KPLUF, GIII, ARCW, VRTU, NPSP, ICPTOn 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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April 22, 2015
07:07 EDTICPT, GILDEuropean Association for the Study of the Liver to hold annual meeting
50th Annual Meeting of EASL will be held in Vienna, Austria on April 22-26.
April 21, 2015
16:00 EDTGILDOptions Update; April 21, 2015
iPath S&P 500 VIX Short-Term Futures down 1c to 21.53 Option volume leaders: AAPL TSLA TWTR GILD FB PBR AMZN C KMI KO VZ MCD according to Track Data.
13:34 EDTGILDGilead paying premium to buy Vertex not warranted right now, says Maxim
After Bernstein suggested in a note to investors earlier that Gilead (GILD) should buy Vertex (VRTX), Maxim responded in its own note that it does not believe paying a premium to buy Vertex makes sense before the company has data showing efficacy for Kalydeco in heterozygotes. Maxim keeps a Hold rating and $121 price target on Vertex shares.
12:33 EDTGILDOn The Fly: Top stock stories at midday
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12:21 EDTGILDVertex rises after Bernstein suggests Gilead should pursue takeover
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10:00 EDTGILDGilead spikes higher, levels to watch
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09:37 EDTGILDActive equity options trading on open
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08:40 EDTPANWCheck Point price target raised to $100 from $85 at Needham
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08:14 EDTGILDGilead should buy Vertex, says Bernstein
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07:15 EDTPANWUBS to host a software tour
Software Tour at RSA Conference is being held on April 21-24.
06:58 EDTGILDGilead May weekly volatility elevated into Q1 and outlook
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06:06 EDTMBWMMercantile Bank reports Q1 EPS 39c, consensus 38c
Reports Q1 book value per share $19.69.
April 20, 2015
16:32 EDTPANWPalo Alto re-initiated with an Outperform at Imperial Capital
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15:37 EDTMBWMNotable companies reporting before tomorrow's open
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15:16 EDTNXPIGreenlight starts new GM long position, rolls Lorillard short bet to Reynolds
David Einhorn's Greenlight Capital hedge fund said in its latest quarterly letter to investors that it had established new long positions in General Motors (GM), Chicago Bridge & Iron (CBI) and AerCap Holdings (AER) last quarter. WHAT'S NEW: Greenlight believes GM should benefit from low gas prices, low raw material costs, and its decision to launch share buybacks, Greenlight stated. GM has an excellent chance of beating 2015 EPS expectations, added the firm. Einhorn's group said they found the valuation of Chicago Bridge and Iron, an engineering and construction company with significant exposure to energy, attractive following the stock's decline. Although energy prices may stay low for some time, the company has a significant backlog that should support its earnings for several years, Greenlight stated. Additionally, the market is overestimating how much of the cost overruns for two nuclear energy projects with be shouldered by the company, Greenlight contended. AerCap, the largest publicly traded aircraft leasing company, bought AIG's (AIG) aircraft leasing business last year at a bargain price, Greenlight stated. The combined business will benefit from AerCap's low tax rate, as well as efficiencies, the hedge fund believes. WHAT'S NOTABLE: Greenlight exited its short position in Lorillard (LO). Greenlight noted that it has rolled its short bet on Lorillard into a fresh position in Reynolds American (RAI), since it still believes that the FDA is gearing up to do "something major" in terms of regulation of menthol cigarettes, but is moving "slowly and deliberately" because it anticipates an extremely aggressive industry response. The firm also exited two other short positions because the companies agreed to takeovers: Safeway (SWY) and Freescale Semiconductor (FSL), which has agreed to sell itself to NXP Semicondictors (NXPI).
12:35 EDTPANWCybersecurity stocks rally after Raytheon announces joint venture
The shares of cybersecurity companies are rising after Raytheon (RTN), a major defense contractor, announced that it was forming a cybersecuity joint venture with a company in the sector, Websense. Raytheon will acquire control of Websense as part of the deal. WHAT'S NEW: Raytheon announced that it had agreed to form a joint venture with Websense, which is owned by Vista Equity Partners. Under the deal, Websense will combine with Raytheon Cyber Products, a business unit of Raytheon's Intelligence, Information and Services segment. Raytheon will pay about $1.57B for an 80.3% stake in the joint venture. Additionally, Raytheon will pay $1.9B, net of cash acquired, to buy Websense. Of the $1.9B, $600M will be in the form of an intercompany loan to the joint venture. The combined company will be treated as a separate business segment of Raytheon, the defense contractor stated. John McCormack, the CEO of Websense, will be the CEO of the unit. The deal is expected to close next quarter. ANALYST REACTION: In a note to investors earlier today, Wells Fargo analyst Sam Pearlstein wrote that the deal will raise Raytheon's non-GAAP, 2015 adjusted earnings per share by about 6c. However, the transaction will lower Raytheon's EPS on a GAAP basis for 2015 by 48c, driven by amortization of intangibles, deferred revenue, and one-time costs, according to Pearlstein. The analyst kept an Outperform rating on Raytheon shares. WHAT'S NOTABLE: Cybersecurity company Check Point (CHKP) reported stronger than expected first quarter results today. Its Q2 guidance was roughly in-line with analysts' consensus estimates at the midpoints of the ranges given for earnings and revenue. Additionally, Check Point announced a partnership with another cybersecurity company, FireEye (FEYE). The companies said they would share threat intelligence to protect customers from modern advanced attacks. PRICE ACTION: In early afternoon trading,Check Point jumped 5.4% to $86.14, FireEye rose 3.8% to $42.39, Palo Alto (PANW) gained 2.4% to $146, Fortinet (FTNT) added 1.7% to $34.28, Proofpoint (PFPT) advanced 1.7% to $58, and Raytheon slid 0.3% to $107.40.
09:36 EDTGILDActive equity options trading on open
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08:49 EDTIGTEiGATE price target raised to $55 from $47 at Maxim
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08:35 EDTGRAW.R. Grace should be bought on weakness, says Cowen
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07:20 EDTGILDAmerican Association for Cancer Research to hold annual meeting
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