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Stock Market & Financial Investment News

News Breaks
August 15, 2014
10:01 EDTGILD, ACHN, GRA, NXPI, KPLUF, GIII, ARCW, VRTU, NPSP, ICPT, ENTA, IGTE, PANW, MBWMOn 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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February 26, 2015
14:39 EDTPANWPalo Alto volatility and share price increases into Q2 and outlook
Palo Alto March weekly call option implied volatility is at 63, April is at 42, June is at 38; compared to its 26-week average of 43 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on March 2.
07:48 EDTPANWPalo Alto price target raised to $150 from $130 at Oppenheimer
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February 25, 2015
15:30 EDTGILDGilead announces preclincal data on investigational TLR7 agonist
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February 24, 2015
10:34 EDTACHNAchillion March calls active on renewed takeover chatter
Achillion March 14 and April 15 calls are active on total call volume of 1,600 contracts (100 puts) on renewed takeover chatter. February weekly call option implied volatility is at 82, March and April is at 79, June is at 81; compared to its 10-week average of 81 according to Track Data. Active call volume suggests traders taking positions for large near term price movement.
10:28 EDTPANWAnalyst sees 'massive' IT security upgrade cycle still in early innings
A number of trends are spurring businesses and the government to spend aggressively on cyber security offerings, benefiting companies in the IT security sector, wrote research firm FBR Capital in a note to investors today. In conjunction, the firm raised its price target on a number of stocks in the sector. WHAT'S NEW: After conducting checks, FBR Capital analyst Daniel Ives believes that spending on advanced cyber security products has increased this quarter. The ongoing series of well-publicized cyber attacks on large companies is causing businesses to become more concerned about protecting themselves from this threat, according to Ive, who believes that advanced IT security products have "massive," once in a multi-decade growth potential. Data points indicate that enterprises are looking to buy more advanced firewall/cloud security solutions, while the sizes of purchases by customers in the space have increased. Meanwhile, given the high priority that the Obama administration has placed on cyber security, the federal government's spending on IT security is likely to rise in the coming quarters and years, Ives wrote. Forecasting a 20% increase in overall cyber security spending this year, the analyst believes that the following companies should benefit disproportionately from the positive trends, since they have "the right products at the right time:" Palo Alto (PANW), FireEye (FEYE), Proofpoint (PFPT), Check Point (CHKP), and Fortinet (FTNT). The analyst raised his price target on Fortinet to $39 from $36, on Palo Alto to $160 from $121, on Proofpoint to $67 from $60, and on Check Point to $93 from $85. He kept Outperform ratings on all the stocks named. WHAT'S NOTABLE: In its own note to investors, RBC Capital said it expects Palo Alto to report stronger than expected Q2 results, driven by "impressive" revenue and margin improvements. The firm raised its price target on the shares to $150 from $145 and kept an Outperform rating on the stock. PRICE ACTION:In early trading, Palo Alto added 0.2% to $138.41, FireEye advanced 1.2% to $43.87, Proofpoint lost slipped fractionally to $56.55, Check Point rose 0.5% at $82.77, and Fortinet gained 1.3% to $33.76.
10:22 EDTACHNRumor: Achillion moves positive on renewed takeover chatter
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09:35 EDTGILDActive equity options trading on open
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08:32 EDTPANWFBR checks show strong cybersecurity deal momentum
FBR Capital raised its price targets in the next-generation cybersecurity space after its channel checks showed strong deal momentum so far in the March quarter. The firm believes the "massive upgrade cycle" for next-generation cybersecurity remains in the early days. It raised its price target for Fortinet (FTNT) to $39 from $36, for Palo Alto (PANW) to $160 from $121, for FireEye (FEYE) to $53 from $45, for Proofpoint (PFPT) to $67 from $60 and for Check Point (CHKP) to $93 from $85.
07:41 EDTPANWPalo Alto volatility elevated into Q2 and outlook
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07:18 EDTPANWPalo Alto results likely to beat expectations, says RBC Capital
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February 23, 2015
18:05 EDTNXPINXP Semiconductors completes Quintic acquisition
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16:00 EDTGILDOptions Update; February 23, 2015
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11:19 EDTENTAEnanta announces JAMA publication of AbbVie VIEKIRA PAK study results
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10:15 EDTPANWCyberArk sinks after JPMorgan analyst cuts rating to sell
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09:39 EDTGILDActive equity options trading on open
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08:27 EDTPANWPalo Alto price target raised to $150 from $130 at Pacific Crest
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08:10 EDTNXPINXP Semiconductors announces partnership with Sonova
NXP Semiconductors announced that as a result of a partnership with Sonova – the leading manufacturer of innovative hearing care solutions – they have collaboratively developed Venture, a landmark next-generation hearing instrument platform, which offers users exceptional performance. Using the advanced platform, Sonova has already introduced a first family of hearing aids, Phonak Audéo V, which launched in October 2014. Venture features an ultra-low power audio processing IC, incorporating a microcontroller and dual core DSP subsystem, maximizing computational power at minimal current consumption. The device's microphone inputs have a wide dynamic range, key for the device's sound quality. Wireless audio and data streaming are managed by a separate IC, built around a Near Field Magnetic Induction radio. This technology provides a tightly-contained Body Area Network, optimized for low power consumption and low latency. Besides its application in hearing instruments, the NFMI technology provides unique features for robust wireless earbuds applications and sensor networks in and around the body. Both ICs run from a battery voltage down to 1V, and will consume around 1mW for a typical hearing aid application.
07:16 EDTGILDMylan signs exclusive agreement with Gilead to distribute Solvaldi, Harvoni
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05:52 EDTPANWCyberArk downgraded to Underweight from Neutral at JPMorgan
JPMorgan downgraded Cyberark Software (CYBR) to Underweight, its sell-equivalent, saying "a lot needs to go right" to justify the current valuation. JPMorgan keeps a $42 price target for the stock, well below Friday's closing price of $70.35. It points out that CyberArk's valuation is in-line with Palo Alto Networks (PANW), despite the latter company's total addressable market being roughly five times larger in its estimation. Cyberark is an Israel-based security company offering protections against cyber attacks.
February 22, 2015
18:04 EDTNPSPShire completes acquisition of NPS Pharma
Shire (SHPG) announces the successful completion of the tender offer for all of the outstanding shares of NPS Pharmaceuticals (NPSP) and the subsequent acquisition of NPS Pharma.The tender offer expired at 12:00 midnight, New York City time, at the end of Friday, February 20, and was not extended. As of the expiration of the tender offer, a total of approximately 88,869,118 common shares of NPS Pharma had been validly tendered and not withdrawn pursuant to the tender offer, representing approximately 81.7% of the outstanding common shares of NPS Pharma. All shares that were validly tendered and not withdrawn pursuant to the tender offer were accepted for payment. After the acceptance of shares that were validly tendered and not withdrawn pursuant to the tender offer, Shire completed the acquisition of NPS Pharma today through a merger of one of Shire's subsidiaries with and into NPS Pharma. In connection with the merger, all common shares of NPS Pharma that were not accepted for payment in the tender offer (excluding any shares held by NPS Pharma as treasury stock (other than any shares held in an NPS Pharma benefit plan) and any shares with respect to which the holders have properly demanded appraisal rights in accordance with Delaware law) were converted into the right to receive $46.00 per share in cash, without interest and less any applicable withholding taxes, the same price that will be paid for shares accepted for payment in the tender offer. Following completion of the merger, NPS Pharma became a wholly owned subsidiary of Shire and NPS Pharma's shares ceased to be traded on NASDAQ.
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