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Stock Market & Financial Investment News

News Breaks
July 15, 2014
10:00 EDTINTC, GPRO, ECR, URI, SSYS, PF, MDXG, HEES, EPZM, CXP, YHOO, TTHI, STX, PSG, KITE, GOOG, ENSV, ARDX, WDC, SPN, PLUG, NYRTOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Ardelyx (ARDX) initiated with an Outperform at Wedbush... Columbia Property Trust (CXP) initiated with an Equal-Weight at... Eclipse Resources (ECR) initiated with a Buy at Citigroup... Enservco (ENSV) initiated with an Outperform at William Blair... Epizyme (EPZM) initiated with a Buy at H.C. Wainwright... GoPro (GPRO) initiated with an Outperform at JMP Securities... Google (GOOG) initiated with an Outperform at FBR Capital... H&E Equipment (HEES) initiated with an Outperform at Avondale... Intel (INTC) initiated with an Outperform at Imperial Capital... Kite Pharma (KITE) initiated with a Buy at Jefferies... MiMedx (MDXG) initiated with a Buy at Needham... New York REIT (NYRT) initiated with an Equal-Weight at Evercore... Performance Sports Group (PSG) initiated with a Buy at DA Davidson... Pinnacle Foods (PF) reinstated with a Neutral at Goldman... Plug Power (PLUG) initiated with an Outperform at FBR Capital... Seagate (STX) initiated with a Positive at Susquehanna... Stratasys (SSYS) initiated with an Outperform at Cowen... Superior Energy (SPN) initiated with an In-Line at Imperial Capital... Transition Therapeutics (TTHI) initiated with a Buy at H.C. Wainwright... United Rentals (URI) initiated with an Outperform at Avondale... Western Digital (WDC) initiated with a Positive at Susquehanna... Yahoo (YHOO) initiated with a Market Perform at FBR Capital.
News For ARDX;CXP;ECR;ENSV;EPZM;GPRO;GOOG;HEES;INTC;KITE;MDXG;NYRT;PSG;PF;PLUG;STX;SSYS;SPN;TTHI;URI;WDC;YHOO From The Last 14 Days
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August 17, 2015
19:00 EDTGOOGGoogle targets 2016 U.S. launch for modular smartphone project
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16:14 EDTGOOGParkway Properties signs deal to bring Google Fiber to certain properties
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13:34 EDTYHOOBuzzFeed and Yahoo Japan in JV, FT reports
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13:30 EDTKITEOn The Fly: Top stock stories at midday
Stocks began the session deep in negative territory after a disappointing Empire Manufacturing report. The data got the market off to a weak start as optimism over last week's finish began to fade. The averages continued to drift in a narrow range for the opening hour before reversing and capturing the opening losses. Each of the major equity indices is now back in positive territory sporting slight gains across the board. ECONOMIC EVENTS: In the U.S., the Empire State manufacturing index plunged to -14.92 in August after rebounding to 3.86 in July from June's -1.98. The consensus estimate was 4.75, and the surprising drop puts the index at its lowest point since April 2009. The employment component slid to 1.82, while new orders crashed to -15.70. Meanwhile, the U.S. NAHB homebuilder sentiment index rose to 61 in August from 60 in June and and is the highest since November 2005. The single family sales index edged up to 66 versus a revised 65 last month, while the index of prospective buyer traffic improved to 45 versus 43 previously. In Europe, various Eurozone parliaments prepare to vote on Greece's new EUR86B bailout plan this week. COMPANY NEWS: Liberty Interactive (QVCA) announced this morning an agreement to acquire zulily (ZU) for $18.75 per share in a deal valuing the online shopping site at $2.4B, driving zulily shares up more than 47% in intraday trading. The acquisition will be attributed to Liberty's QVC Group tracking stock, though QVC and zulily will be operated as separate consumer facing brands. On a conference call discussing the acquisition, Liberty Interactive executives noted that the "highly efficient" deal will allow Liberty to reach a younger base. MAJOR MOVERS: Among the notable gainers AVEO Oncology (AVEO), which rose roughly 50% after announcing a license agreement with Novartis (NVS) for the development and commercialization of AVEO's AV-380 drug and related antibodies. Also higher was Kite Pharma (KITE), which advanced roughly 5.4% after clarifying that an earlier patient death in its Phase 1/2 KTE-C19 trial for non-Hodgkin's lymphoma was unrelated to Kite's therapy. Additionally, shares of Target (TGT) have gained roughly 10c despite lingering in negative territory early Monday after the company promoted CFO John Mulligan to the newly created role of EVP and COO and appointed Cathy Smith as EVP and CFO. Prior to joining Target, Smith served as EVP and CFO at St. Louis-based Express Scripts (ESRX). Among the noteworthy losers was KKR (KKR), which lost roughly 2.4% after Samson Resources announced a restructuring agreement late Friday, adding that it expects to file for bankruptcy within 30 days. Also lower was Estee Lauder (EL), which declined nearly 6.5% after its quarterly guidance missed analysts' estimates. INDEXES: Near midday, The Dow was up 65.11, or 0.37%, to 17,542.51, the Nasdaq gained 34.73, or 0.69%, to 5,082.96, and the S&P 500 advanced 8.80, or 0.42%, to 2,101.03.
12:42 EDTGOOGGoogle says testing Project Sunroof
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12:31 EDTGPROGoPro October puts active
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10:21 EDTKITEMizuho's Lawson sees 'no reason for concern' after Kite Pharma call
Mizuho analyst Peter Lawson said he sees "no reason for concern" after Kite Pharma hosted a conference call to address a patient that died during its clinical trial. The call provided "sufficient insight to back up the press release," Lawson tells investors in a research note. He keeps a Buy rating on Kite with a $90 price target.
10:09 EDTKITEOn The Fly: Analyst Initiation Summary
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09:40 EDTKITEKite Pharma initiated with a Buy at Standpoint Research
Target $100.
09:26 EDTKITEOn The Fly: Pre-market Movers
HIGHER: AVEO (AVEO), up 119.7% after announcing licensing agreement with Novartis (NVS)... OHR Pharmaceutical (OHRP), up 24.9% after Soros reports new stake in company in 13F filing... Kite Pharma (KITE), up 4.6% after saying patient death unrelated to KTE-C19... Tesla (TSLA), up 5.5% after price target raised to $465 from $280 at Morgan Stanley... Mobileye (MBLY), up 2.7% after price target raised to $80 from $71 at Morgan Stanley... J.C. Penney (JCP), up 1.5% after being initiated with a Buy at B. Riley and Piper Jaffray raised its price target to $17 from $15. DOWN AFTER EARNINGS: Estee Lauder (EL), down 2.1% after reporting quarterly results and giving guidance for first quarter and fiscal 2016. ALSO LOWER: KKR (KKR), down 3.3% after Samson enters restructuring deal and expects to file for bankruptcy within 30 days... Aquinox (AQXP), down 4.7% after Lloyd Mackenzie, vice president - Technical Operations and Planning, disclosed late Friday the sale of 35,887 shares worth over $670,000 in a sale related to the exercise of options.
09:19 EDTKITEKite Pharma jumps 7% with conference call ongoing
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09:12 EDTKITEKite Pharma CEO says 'we have seen tumors melting away in weeks'
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09:05 EDTKITEKite Pharma CEO says KTE-C19 trial responses 'impressive' to date
Arie Belldegrun is speaking on the company's conference call.
09:05 EDTKITEKite Pharma CEO says KTE-C19 trial has never been on clinical hold
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08:56 EDTKITEKite Pharma press release helps address a lot of the chatter, says Mizuho
Mizuho analyst Peter Lawson says this morning's press release by Kite Pharma helps address a lot of the chatter surrounding the patient death in the KTE-C19 clinical trial. Specifically, Lawson notes Kite stated that "complete responses have been observed by investigators" and that "toxicities associated with treatment have been similar to those observed in the National Cancer Institute's study of anti-CD19 CAR T cell therapy." He has a Buy rating on Kite with a $90 price target.
08:53 EDTKITEKite Pharma up after saying patient death unrelated to KTE-C19
Shares of Kite Pharma are moving higher after the company announced in a press release that the one patient death, which occurred early in the ongoing Phase 1/2 clinical trial of KTE-C19 in patients with refractory aggressive non-Hodgkin's lymphoma who have failed prior chemotherapy treatments and have a poor prognosis, was determined to be unrelated to KTE-C19 by the study investigator. "We are encouraged by the progress of the KTE-C19 clinical trial and excited by the responses we have seen so far. We believe the KTE-C19 clinical findings are in line with previous results demonstrating the potential of this promising therapeutic approach," said Arie Belldegrun, CEO of Kite. The stock is up $1.50 to $59.50 in pre-market trading after pulling back on Friday.
08:07 EDTKITEKite Pharma provides update on KTE-C19 clinical trial
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08:06 EDTWDCWestern Digital shares offer attractive entry point, says Jefferies
Jefferies analyst James Kisner believes current share levels provide an attractive entry point into Western Digital. The analyst views consensus earnings expectations as achievable and believes the current valuation does not price in potential upside from MOFCOM approval. He keeps a Buy rating on Western Digital with a $116 price target.
06:03 EDTGOOGStocks with implied volatility below IV index mean; GMCR GOOG
Stocks with implied volatility below IV index mean; Keurig Green Mountain (GMCR) 38, Google (GOOG) 23 according to iVolatility.
05:52 EDTKITEKite Pharma to host business news update conference call
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