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News Breaks
June 12, 2014
10:07 EDTARIA, REPH, HOLI, BMRN, AEO, RSPP, CSTM, ATW, ALE, SNSS, NMM, CAB, ATHLOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: ARIAD (ARIA) coverage transitioned with a Neutral at UBS... Allete (ALE) initiated with a Neutral at JPMorgan... American Eagle (AEO) initiated with a Fair Value at CRT Capital... Athlon Energy (ATHL) initiated with a Buy at Mizuho... Atwood Oceanics (ATW) initiated with a Hold at Deutsche Bank... BioMarin (BMRN) coverage transitioned with a Buy at UBS... Cabela's (CAB) initiated with a Neutral at Goldman... Constellium (CSTM) initiated with a Buy at Sterne Agee... Hollysys Automation (HOLI) initiated with a Buy at Goldman... Navios Maritime Partners (NMM) initiated with a Buy at Jefferies... RSP Permian (RSPP) initiated with a Buy at Mizuho... Recro Pharma (REPH) initiated with a Buy at Aegis... Sunesis (SNSS) initiated with a Buy at UBS.
News For ARIA;ALE;AEO;ATHL;ATW;BMRN;CAB;CSTM;HOLI;NMM;RSPP;REPH;SNSS From The Last 14 Days
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January 16, 2015
10:01 EDTRSPPOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 21st Century Fox (FOXA) initiated with a Buy at Stifel... Arista Networks (ANET) initiated with a Neutral at Buckingham... Boston Beer (SAM) initiated with a Buy at Jefferies... Brocade (BRCD) initiated with a Neutral at Buckingham... CBS (CBS) initiated with a Buy at Stifel... Cabela's (CAB) initiated with an Outperform at Raymond James... Coach (COH) initiated with a Market Perform at Bernstein... Costco (COST) initiated with an Outperform at BMO Capital... Crane (CR) initiated with a Hold at Canaccord... Flowserve (FLS) initiated with a Neutral at Susquehanna... Fortinet (FTNT) initiated with a Buy at Buckingham... Gap (GPS) initiated with a Market Perform at Bernstein... GrubHub (GRUB) initiated with a Buy at Stifel... Imperva (IMPV) initiated with a Neutral at Buckingham... KLX Inc. (KLXI) initiated with a Sector Perform at RBC Capital... KNOT Offshore Partners (KNOP) initiated with a Buy at UBS... L Brands (LB) initiated with a Market Perform at Bernstein... Michael Kors (KORS) initiated with an Outperform at Bernstein... Northstar Realty (NRF) initiated with a Buy at Sterne Agee... OmniVision (OVTI) initiated with a Buy at Rosenblatt... Qorvo (QRVO) initiated with a Buy at Brean ... RSP Permian (RSPP) initiated with an Outperform at Northland... Ross Stores (ROST) initiated with a Market Perform at Bernstein... SPX Corp. (SPW) initiated with a Neutral at Susquehanna... TJX (TJX) initiated with an Outperform at Bernstein... Tiffany (TIF) initiated with a Market Perform at Bernstein... Viacom (VIAB) initiated with a Buy at Stifel... Xylem (XYL) initiated with a Neutral at Susquehanna... iGATE (IGTE) initiated with a Buy at Deutsche Bank... lululemon (LULU) initiated with an Outperform at Bernstein.
06:51 EDTRSPPRSP Permian initiated with an Outperform at Northland
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06:25 EDTCABCabela's initiated with an Outperform at Raymond James
Target $63.
January 15, 2015
15:26 EDTBMRNSarepta says no safety info or comparison in BioMarin presentation
Sarepta (SRPT) said that, given the small sample size of study 201/202, the company understood the importance of providing an "extensive amount of date" in order to understand eteplirsen's treatment effect. Sarepta has reported mITT data since week 24 and has continued to provide updates on this same mITT at every timepoint, the company said. BioMarin's (BMRN) presentation on Monday focused on extension phase and excluded dose-escalation phase and results during off-treatment periods, according to Sarepta. "Sarepta has regularly reported complete 201/202 safety data on all patients. No safety information or comparison [was included] in BioMarin's Monday presentation," Sarepta wrote in slides for its presentation at the JPMorgan Healthcare Conference.
January 14, 2015
10:00 EDTRSPPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ACE Limited (ACE) downgraded to Neutral from Outperform at Macquarie... AXIS Capital (AXS) downgraded to Neutral from Outperform at Macquarie... Allstate (ALL) downgraded to Underperform from Neutral at Macquarie... Altera (ALTR) downgraded to Neutral from Overweight at JPMorgan... American Midstream Partners (AMID) downgraded to Neutral from Buy at BofA/Merrill... Argo Group (AGII) downgraded to Underperform from Neutral at Macquarie... Aspen Insurance (AHL) downgraded to Underperform from Neutral at Macquarie... Beneficial Bancorp (BNCL) downgraded to Neutral at Boenning & Scattergood... CDW Corporation (CDW) downgraded to Neutral from Buy at Goldman... CHC Group (HELI) downgraded at Raymond James... CIRCOR (CIR) downgraded to Hold from Buy at Stifel... Chesapeake (CHK) downgraded to Underweight from Equal Weight at Barclays... Commerzbank (CRZBY) downgraded to Sell from Neutral at Goldman... Continental Resources (CLR) downgraded to Equal Weight from Overweight at Barclays... Corporate Office Properties (OFC) downgraded to Market Perform at Wells Fargo... Credit Suisse (CS) downgraded to Neutral from Overweight at HSBC... Datawatch (DWCH) downgraded to Hold at Canaccord... Devon Energy (DVN) downgraded to Equal Weight from Overweight at Barclays... Dollar Tree (DLTR) downgraded to Neutral from Buy at Northcoast... Douglas Emmett (DEI) downgraded to Neutral from Buy at Mizuho... Dresser-Rand (DRC) downgraded to Underperform from Market Perform at Raymond James... Enable Midstream (ENBL) downgraded to Underperform from Neutral at BofA/Merrill... F5 Networks (FFIV) downgraded to Equal Weight from Overweight at Barclays... First Majestic (AG) downgraded to Sector Perform from Outperform at Scotia Capital... Foot Locker (FL) downgraded to Sell from Neutral at Goldman... Franklin Resources (BEN) downgraded to Neutral from Buy at Goldman... HCP (HCP) downgraded to Market Perform from Outperform at Wells Fargo... Halcon Resources (HK) downgraded to Underweight from Equal Weight at Barclays... Insulet (PODD) downgraded at Sterne Agee... J.B. Hunt (JBHT) downgraded to Market Perform from Outperform at Avondale... JPMorgan (JPM) downgraded to Underweight from Neutral at HSBC... KB Home (KBH) downgraded to Neutral from Outperform at Credit Suisse... Kosmos (KOS) downgraded to Equal Weight from Overweight at Barclays... Marathon Oil (MRO) downgraded to Equal Weight from Overweight at Barclays... Medley Management (MDLY) downgraded to Market Perform at Keefe Bruyette... MoneyGram (MGI) downgraded to Underperform from Neutral at BofA/Merrill... NPS Pharmaceuticals (NPSP) downgraded to Neutral from Overweight at JPMorgan... National Grid (NGG) downgraded to Underperform from Neutral at Credit Suisse... Navigators (NAVG) downgraded to Underperform from Neutral at Macquarie... Pioneer Energy (PES) downgraded at Raymond James... RSP Permian (RSPP) downgraded to Equal Weight from Overweight at Barclays... Rambus (RMBS) downgraded to Neutral from Overweight at JPMorgan... Realty Income (O) downgraded to Market Perform from Outperform at Wells Fargo... Red Hat (RHT) downgraded to Sell from Neutral at Goldman... Resolute Energy (REN) downgraded to Underweight from Equal Weight at Barclays... Ross Stores (ROST) downgraded to Neutral at UBS... SandRidge Energy (SD) downgraded to Underweight from Equal Weight at Barclays... Tech Data (TECD) downgraded to Sell from Neutral at Goldman... Teekay Offshore Partners (TOO) downgraded to Neutral from Buy at BofA/Merrill... Travelers (TRV) downgraded to Underperform from Neutral at Macquarie... TrueCar (TRUE) downgraded to Market Perform at Cowen... Valspar (VAL) downgraded to Neutral from Outperform at RW Baird... Verizon (VZ) downgraded at Evercore ISI... Viacom (VIAB) downgraded to Sell from Buy at Citigroup... W. R. Berkley (WRB) downgraded to Underperform from Neutral at Macquarie... Waddell & Reed (WDR) downgraded to Neutral from Buy at Goldman... Western Union (WU) downgraded to Underperform from Neutral at BofA/Merrill... Whiting Petroleum (WLL) downgraded to Equal Weight from Overweight at Barclays... Whole Foods (WFM) downgraded to Hold from Buy at Argus... Xilinx (XLNX) downgraded to Neutral from Overweight at JPMorgan... iRobot (IRBT) downgraded to Underweight from Neutral at JPMorgan.
07:20 EDTARIAARIAD sees product revenues reaching over $400M in 2018
For 2014, sees product and license revenue at $100M, R&D expenses $120M. For 2015, plans to accelerate Iclusig sales in U.S. and Europe, initiate key Iclusig trials, secure broad partnership for brigatinib, file for Iclusig approval in Japan with Otsuka, file IND for new development candidate AP32788. Comments from slides that will be presented at the JP Morgan Healthcare Conference.
07:19 EDTBMRNBioMarin volatility at upper end of two-year range as shares at record high
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06:11 EDTRSPPRSP Permian downgraded to Equal Weight from Overweight at Barclays
Barclays downgraded RSP Permian to Equal Weight and other names in the Exploration & Production space saying downside risk outweighs potential gains, even if oil prices recover. The firm reduced its commodity price deck assumptions and believes investor expectations for an oil price recovery could prove disappointing. It lowered its price target for shares to $22 from $24.
January 13, 2015
16:02 EDTCSTMConstellium to supply aluminium structural parts for Ford F150
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08:53 EDTBMRNProsensa announces holder approval of certain matters relating to BioMarin
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08:43 EDTAEOAmerican Eagle has reached positive turning point, says BMO Capital
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07:40 EDTARIAARIAD reports net sales of Iclusig of approx. $55M for year ended Dec. 31
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07:39 EDTARIAARIAD announces key strategic objectives for 2015
ARIAD Pharmaceuticals announced its key strategic objectives for 2015, details of which will be presented at the 33rd Annual J.P. Morgan Healthcare Conference on January 14, 2015 in San Francisco, California. These objectives are focused on expanded commercial, research and development, and new business development initiatives that together are expected to lead ARIAD to sustained profitability beginning in 2018 without the need for additional equity capital to fund its operations. ARIAD management will provide detail on its corporate strategy for the next several years. This new focus includes: Expanding the global commercial opportunity for Iclusig through a Japan/Asia partnership with Otsuka Pharmaceutical Co., Ltd., and additional regional distributorships, Leveraging its existing commercial infrastructure and investment, particularly in Europe, Securing a broad co-development and co-commercialization partnership for brigatinib, or AP26113, that will accelerate the study of brigatinib in earlier lines of treatment, Investing in three randomized clinical trials to evaluate Iclusig in earlier lines of treatment and potentially to expand its addressable market, Advancing its new development candidate, AP32788, into the clinic, and Achieving sustained profitability in 2018 by reaching global product revenue of more than $400M. Three key Iclusig clinical trials will begin in 2015 including a randomized, Phase 3 trial in patients with chronic-phase CML who have experienced failure after imatinib therapy. This second-line, global trial will evaluate two doses of Iclusig vs. the standard dose of nilotinib. The primary endpoint of the trial will be major molecular response by 12 months. The trial is expected to open to patient enrollment in the second half of 2015 and will be integral to potentially expanding Iclusig into earlier lines of treatment. We expect that approximately 500 patients will be enrolled in this trial. ARIAD says "In a major strategic shift for ARIAD, we expect to secure a broad partnership in 2015 to co-develop and co-commercialize brigatinib. In doing so, we will continue to leverage our existing infrastructure and capabilities, allowing us to accelerate the start of a randomized, first-line trial of brigatinib vs. crizotinib. A partnership will also provide for the exploration of new combination therapies in lung cancer that include brigatinib potentially with other approved and unapproved medicines." The company comments, "We expect to achieve profitability in 2018 through revenue growth and strategic partnerships over the next three years. This includes Iclusig revenue growth in the U.S. and in Europe, as well as Iclusig revenue from Japan and new geographies. We also anticipate increased cash flow from brigatinib revenue and partnership payments during this time period. We expect approval of Iclusig in Canada and Israel in 2015 and in Japan in 2016."
January 12, 2015
13:47 EDTBMRNBioMarin says BMN 190 appeared to show stabilization of disease in study
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13:34 EDTBMRNBioMarin raises 2014 Vimizim sales outlook to $75M-$77M
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10:58 EDTAEOAmerican Eagle says expects to end year with cash around $400M
10:40 EDTAEOAmerican Eagle repeats Q4 EPS view 32c-34c, 25% growth vs. last year's Q4
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10:06 EDTSNSSHigh option volume stocks
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09:34 EDTATWAtwood Oceanics awarded contract for Atwood Mako
Atwood Oceanics announced that one of its subsidiaries has entered into an agreement to provide drilling services with the jackup rig Atwood Mako. The contract will be performed in Southeast Asia at an operating day rate of $155,000 for a minimum term of 70 days, and it includes a priced option for an additional term. The Atwood Mako is presently working offshore Malaysia and is expected to mobilize to its new location in late March, in direct continuation of its current program.
07:57 EDTBMRNBioMarin reiterated as a top mid-cap pick at UBS
UBS reiterated BioMarin as a top mid-cap pick for 2015 following meetings with management. The firm cited the breadth of its pipeline and robust catalysts over the next 12-18 months and the closing of its Prosensa acquisition, which will accelerate revenue growth and profitability over the long-term. UBS reiterated its Buy rating and $112 price target on BioMarin shares.
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