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News Breaks
August 15, 2014
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.
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October 2, 2015
09:36 EDTGILDActive equity options trading on open
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09:13 EDTGILDOn The Fly: Pre-market Movers
HIGHER: Wynn Resorts (WYNN), up 6.7% after reports indicate Chinese government may enact new policies to support Macau's economy. Shares of fellow Macau casino operators Las Vegas Sands (LVS) and MGM Resorts (MGM) are also higher in pre-market trading. UP AFTER EARNINGS: Micron (MU), up 3.3%... CalAmp (CAMP), up 9%. DOWN AFTER EARNINGS: Progress Software (PRGS), down 14.5%. ALSO LOWER: Valeant (VRX), down 4.5% after being downgraded to Equal Weight from Overweight at Morgan Stanley... Keurig Green Mountain (GMCR), down 3.4% after disclosing that its president of U.S. sales and marketing resigned... AIG (AIG), down 3% after being downgraded to Market Perform from Outperform at FBR Capital... Gilead (GILD), down 2% following a downgrade to Equal Weight at Morgan Stanley.
09:01 EDTGIIIPVH's Tommy Hilfiger announces license agreement with G-III Apparel
Tommy Hilfiger, which is owned by PVH Corp. (PVH), and G-III Apparel Group, Ltd. (GIII) have entered into a license agreement to introduce a line of women's dresses inspired by the Tommy Hilfiger brand's fresh take on classic, American, cool style. Beginning February 2016, the collection will be available at select department stores, including Macy's, specialty stores, and e-commerce partners in the United States and Canada. The initial term of the agreement is five years with G-III having a right to renew for an additional five-year term subject to achieving certain sales levels.
07:06 EDTGILDGilead downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley downgraded Gilead to Equal Weight and maintained its $127 price target. Matthew Harrison downgraded shares based on relative valuation and said a single acquisition would not be enough to re-rate shares.
October 1, 2015
13:14 EDTENTAEnanta says 34 abstracts from AbbVie chronic hep C program to be presented
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12:44 EDTNXPIApple chip suppliers fall after report iPhone maker may lower chip orders
Shares of chip makers for Apple's (AAPL) iPhone are sliding after a DigiTimes article said the iPhone maker may curtail its chip orders for the fourth quarter. WHAT'S NEW: According to the DigiTimes report, Apple may be adjusting its chip orders lower for Q4. Sources said that a substantial integrated circuit supplier is saying that Apple has "slightly lowered lowered its demand for supplies for the new iPhones for December," the report said. The sources said that overall shipments of the iPhone 6s series are expected to reach 75M-80M units in the third quarter and 65M-70M units in Q4. WHAT'S NOTABLE: On September 28, Apple announced it has sold more than 13M new iPhone 6s and iPhone 6s Plus models just three days after launch, a new record for the company. According to an iFixit report from September 25, a teardown of the new iPhone 6S Plus revealed components supplied by Qualcomm (QCOM), Skyworks (SWKS), Qorvo (QRVO), Avago (AVGO), NXP Semiconductors (NXPI), Cirrus Logic (CRUS) and Texas Instruments (TXN), among others. Other chip makers that have been mentioned as possible Apple suppliers in the past include Analog Devices (ADI), Maxim Integrated Products. (MXIM) and ON Semiconductor (ON). PRICE ACTION: In midday trading shares of the aforementioned chip makers are all lower with Qorvo, Avago, NXP and Analog Devices down approximately 4% to 5%. Apple is down about 1.4%.
09:35 EDTGILDActive equity options trading on open
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09:07 EDTKPLUFKulicke and Soffa announces Assembleon brand name change
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September 30, 2015
10:33 EDTPANWBattleground: Analysts agree Barracuda shares 'cheap,' diverge on ratings
The shares of Barracuda Networks (CUDA) are falling after the company reported lower than expected revenue and provided weaker than expected guidance. Research firms Piper Jaffray and JPMorgan both said that the shares are cheap in the wake of their huge decline today, though Piper downgraded the shares and JPMorgan kept an Overweight rating on the stock. Barracuda provides IT security and storage solutions, primarily for small and medium businesses. WHAT'S NEW: Barracuda last night reported second quarter earnings per share of 10c, versus analysts' consensus estimate of 9c. The company's revenue, however, came in at $78.4M, below the consensus outlook of $78.7M. Moreover, the company lowered its fiscal 2016 EPS guidance to 34c-36c from 36c-41c. Analysts' consensus estimate was 39c. Barrcuda cut its full-year revenue guidance to $320M-$323M, from $325M-$330M. Analysts' consensus estimate was $325M. The company said that its Q2 results were negatively impacted by longer sales cycles in its Europe, Middle East, and Africa region and it warned that it "saw some evidence" of slowing growth in the storage market. It also stated that its gross billings came in below its expectations. ANALYST REACTION: Piper Jaffray analyst Andrew Nowinski responded to Barracuda's results by downgrading the stock to Neutral from Overweight. Although Barracuda blamed its lower than expected billings guidance on weakness in its storage business, its security billings increased only by high single digit percentage levels, the analyst stated. The shares are "cheap," but the valuation is not compelling enough to recommend the stock, contends Nowinski, who cut his price target for shares to $20 from $40. Barracuda was also downgraded at Macquarie and at Stephens this morning.Conversely, JPMorgan analyst Sterling Auty called Barracuda shares "too cheap to ignore." The company lowered its billings guidance partly due to worries about slowing storage market growth, as indicated by an industry report released last quarter, said Auty. However, the growth of Barracuda's storage business actually accelerated last quarter, reaching about 25%, the analyst stated. He believes that Barracuda's new guidance reflects the company's efforts to be "prudent." Auty cut his price target on the name to $30 from $42 but kept an Overweight rating on the shares. OTHERS TO WATCH: Other publicly traded companies in the IT security space include Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC). PRICE ACTION: In early trading, Barracuda tumbled 33% to $15.90.
09:59 EDTGILDActive equity options trading on open
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08:02 EDTPANWTrustwave and Palo Alto announce strategic alliance
Trustwave and Palo Alto announced a strategic alliance designed to bring next-generation managed security services to global, multi-national businesses and government agencies. Under the terms of the agreement, Trustwave has become a global member of the Palo Alto Networks NextWave partner program to provide managed security services for the Palo Alto Networks security platform.
September 29, 2015
16:00 EDTGILDOptions Update; September 29, 2015
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11:11 EDTGILDStocks with call strike movement; CELG GILD
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09:35 EDTGILDActive equity options trading on open
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September 28, 2015
16:00 EDTGILDOptions Update; September 28, 2015
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15:22 EDTGILDGilead volatility at 52-week high
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09:36 EDTGILD Active equity options trading on open
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07:18 EDTICPTIntercept initiates REGENERATE trial for obeticholic acid in NASH patients
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06:02 EDTENTAEnanta announces approval of Viekirax in Japan
Enanta announced that the Japanese Ministry of Health, Labour and Welfare approved AbbVie's VIEKIRAX, as a new interferon-free and ribavirin-free treatment option for adult patients in Japan with chronic genotype 1 hepatitis C virus infection, including those with compensated liver cirrhosis.1 VIEKIRAX consists of two-direct-acting antiviral, fixed-dose tablets containing paritaprevir/ritonavir with ombitasvir. VIEKIRAX is approved in Japan using once daily dosing for 12 weeks for GT1 HCV patients. Enanta expects to earn and receive a $30 million milestone payment in the quarter ending December 31, 2015 upon price reimbursement approval of VIEKIRAX in Japan. In addition, forty five percent of AbbVie's net sales of the 2-DAA regimen in Japan will be included in the worldwide paritaprevir net sales on which Enanta is eligible to receive annually tiered royalties, ranging from the low double digits up to twenty percent. AbbVie is responsible for all worldwide development and commercialization of VIEKIRAX and other HCV treatment regimens containing paritaprevir. Paritaprevir/ritonavir and ombitasvir, AbbVie's NS5A inhibitor, are also included in AbbVie's 3-DAA VIEKIRA PAK regimen, which was approved in the U.S. in late 2014 for patients with GT1 HCV infection. VIEKIRAX was first approved under that name in Europe in January 2015.
September 27, 2015
14:04 EDTPANWCybersecurity firms look prime for takeover, Barron's says
Cybersecurity companies like Palo Alto Networks (PANW), Fortinet (FTNT), and FireEye (FEYE) are becoming increasingly-attractive takeover targets for a Cisco (CSCO) or IBM (IBM), and any future dip in their stocks could represent a buying opportunity, Barron's contends in its 'Technology Trader' column. Reference Link
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