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Stock Market & Financial Investment News

News Breaks
July 15, 2014
10:00 EDTWDC, SPN, PLUG, NYRT, INTC, GPRO, ECR, URI, SSYS, PF, MDXG, HEES, EPZM, CXP, YHOO, TTHI, STX, PSG, KITE, GOOG, ENSV, ARDXOn 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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June 24, 2015
09:07 EDTKITECAR-T cancer drug researchers seen as M&A targets, Bloomberg says
Juno Therapeutics (JUNO), Kite Pharma (KITE) and Bluebird Bio (BLUE) are trading well above their IPO levels as takeovers predictions have spurred interest and share increases for the developers of CAR-T gene therapies, said Bloomberg's "Real M&A" column, quoting Dimo Dimov, a professor at the University of Bath’s School of Management, as having said that companies such as Pfizer (PFE), Merck (MRK), Roche (RHHBY) and AstraZeneca (AZN) are "closely watching" the firms. Cellectis (CLLS), which is working with Pfizer on its own approach to CAR-T therapy, has said it wants to bring its therapy to market and doesn’t anticipate a sale, the report noted. Reference Link
06:08 EDTTTHITransition Therapeutics reports ELND005 did not meet primary efficacy endpoint
Transition Therapeutics announced that a Phase 2/3 clinical study of neuropsychiatric drug candidate ELND005 did not meet its primary efficacy endpoint. In the study, both the treatment and placebo groups showed a significant, but similar, reduction in agitation and aggression relative to baseline. There was a greater than expected reduction in agitation and aggression observed in the placebo group as measured in weeks 4, 8 and 12 in the study. The safety and tolerability profile of ELND005 was consistent with previous studies in AD at the 250mg bid dose. The Phase 2/3 clinical study evaluated the efficacy, safety and tolerability of ELND005 over 12 weeks of treatment in patients with mild to severe AD, who were experiencing at least moderate levels of agitation/aggression. The randomized, double-blind, placebo-controlled study enrolled 350 AD patients. The primary efficacy endpoint of the study was the change from baseline in the Neuropsychiatric Inventory – Clinician scale of agitation and aggression. An analysis of the full study dataset is being performed. An external clinical advisory committee will be consulted in determining any future development of ELND005. Data from the Phase 2/3 clinical study will be presented at a future medical meeting.
06:04 EDTTTHITransition Therapeutics announces ELND005 study did not meet primary endpoint
Transition Therapeutics announced that a Phase 2/3 clinical study of neuropsychiatric drug candidate ELND005 did not meet its primary efficacy endpoint. In the study, both the treatment and placebo groups showed a significant, but similar, reduction in agitation and aggression relative to baseline. There was a greater than expected reduction in agitation and aggression observed in the placebo group as measured in weeks 4, 8 and 12 in the study. The safety and tolerability profile of ELND005 was consistent with previous studies in AD at the 250mg bid dose. The Phase 2/3 clinical study evaluated the efficacy, safety and tolerability of ELND005 over 12 weeks of treatment in patients with mild to severe AD, who were experiencing at least moderate levels of agitation/aggression. The randomized, double-blind, placebo-controlled study enrolled 350 AD patients. The primary efficacy endpoint of the study was the change from baseline in the Neuropsychiatric Inventory – Clinician scale of agitation and aggression. An analysis of the full study dataset is being performed. An external clinical advisory committee will be consulted in determining any future development of ELND005.
06:00 EDTGOOGGoogle held 29 high-level meetings in Brussels in 6 months, Financial Times says
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June 23, 2015
17:50 EDTGOOGGoogle to remove Confederate flag from shopping service and ads, Reuters says
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16:29 EDTGPROOn The Fly: Top stock stories for Tuesday
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13:37 EDTGPROOn The Fly: Top stock stories at midday
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12:54 EDTINTC, WDC, STXPC concerns weighing on shares of Seagate, Western Digital
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12:08 EDTGOOGPandora down 1% after Google launches free music service
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12:05 EDTGOOGGoogle launches free, ad-supported music service in U.S.
Google (GOOG) announced via a blob post that Google Play Music now has a "free, ad-supported version" in the U.S. It stated, "Our team of music experts, including the folks who created Songza, crafts each station song by song so you don’t have to. If you’re looking for something specific, you can browse our curated stations by genre, mood, decade or activity, or you can search for your favorite artist, album or song to instantly create a station of similar music." Shares of Pandora (P) ticked lower following Google's announcement.
10:23 EDTGPROAmbarella jumps after analyst says buy after big selloff
The shares of Ambarella (AMBA) are rising after research firm Canaccord defended the stock in the face of a highly negative report on the company by short-selling blog Citron Research. The company develops processors used in high definition cameras. BACKGROUND: In an article published last Friday on its website, Citron called Ambarella's valuation "ridiculous," given the competition the company is facing and the lack of demand for its products in certain areas such as security. According to Citron, Ambarella's stock is worth about $30 per share, versus its current price of around $104. After the article was published, Ambarella's stock tumbled about 26% before today's open. ANALYST REACTION: In a note to investors earlier today, Canaccord analyst Matthew Ramsay wrote that the technological advantages of Ambarella's chips are enabling it to gain market share and design wins, as well as making its current customers more likely to continue using its products. Specifically, Ambarella's processors offer significantly better video quality, compression efficiency and lower power than those of its competitors, the analyst believes. These advantages will become more meaningful when new video technologies become more prevalent, Ramsay wrote. Additionally, Ambarella should benefit from the increased proliferation of drone cameras and security cameras, which together should significantly boost the company's results, the analyst believes. The company's earnings can reach $5 per share in fiscal 2017, predicted the analyst, who contended that Citron's report is "largely void of well-researched content." He kept a $115 price target and Buy rating on the shares. PRICE ACTION: In early trading, Ambarella climbed $9.30, or 10%, to $104. WHAT’S NOTABLE: Ambarella’s chips are in GoPro’s (GPRO) HERO action camera line. After selling off yesterday, shares of GoPro are up $1.47 to $56.39 in early trading. JMP Securities analyst Alex Gauna this morning raised his earnings estimates for GoPro to reflect the company’s second half of 2016 entry into the “booming” drone market. He kept a $105 price target for the shares.
10:00 EDTWDCOn The Fly: Analyst Downgrade Summary
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08:23 EDTNYRTNew York REIT moves positive, says JMP Securities
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07:59 EDTGPROJMP raises GoPro estimates amid 'booming' drone market
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07:41 EDTINTCRed Hat to hold a summit
Red Hat Summit 2015 is being held in Boston on June 23-26 with webcasted company presentations to begin on June 23 at 4 pm; not all presentations may be webcasted. Webcast Link
06:25 EDTSTX, WDCWestern Digital downgraded to Neutral from Overweight at JPMorgan
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06:25 EDTGOOGGoogle introduces the News Lab on blog
Google said on its blog that it is launching the News Lab, "a new effort at Google to empower innovation at the intersection of technology and media. Our mission is to collaborate with journalists and entrepreneurs to help build the future of media. And we’re tackling this in three ways: though ensuring our tools are made available to journalists around the world -- and that newsrooms know how to use them; by getting helpful Google data sets in the hands of journalists everywhere; and through programs designed to build on some of the biggest opportunities that exist in the media industry today. The News Lab is a global effort, with teams in the U.S., U.K., France, and Germany to start -- and we’re also powering the training and research arm of Google’s Digital News Initiative in Europe. Google has created many technologies and platforms that have engaged the media industry. As both the media landscape and technology continue to evolve, we believe we can create a more informed world if technologists and journalists work together -- and we’re excited to be part of the effort." Reference Link
06:14 EDTGOOGGetty filed a complaint against Google to EU earlier this year, WSJ reports
Getty Images complained earlier this year to European antitrust authorities that Google unfairly favors its image search service over rivals, the Wall Street Journal reports. The European Commission told Getty in early June that its concerns were valid and added Getty as an “interested third person” in its search manipulation case against the search giant, according to a document reviewed by the Wall Street Journal. Reference Link
06:05 EDTINTCIntel pushing into SSD market and hope to surpass Samsung in 2016, DigiTimes says
Intel (INTC) is looking to push into the SSD market with its newest 750 series SSDs with technology able to enhance the transmission speed, reports DigiTimes. According to sources from the upstream supply chain, the company is also offering price cuts on its existing products in order to narrow its gap with the largest vendor Samsung (SSNLF). Sources also expect Intel to draw near to Samsung in 2H15 and may even have a chance to surpass Samsung in 2016. Reference Link
06:05 EDTINTCNo clear prospects for PC component suppliers until July, DigiTimes reports
There are no clear business prospects for PC component suppliers until July, reports DigiTimes. According to sources in the supply chain, Intel's decision to delay the launch of its Skylake platform has weakened market demand for notebooks and other PC systems. The planned release of Microsoft (MSFT) Windows 10 may also affect the production of PC makers. Reference Link
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