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Stock Market & Financial Investment News

News Breaks
January 22, 2013
10:00 EDTUPI, RHHBY, LRE, FFIV, ARMH, KMI, JCI, URBN, OTEX, FTNT, DO, COH, LIFE, BP, TRIB, OZM, FE, BDX, SFLY, MSOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ARM Holdings (ARMH) downgraded to Hold from Buy at Benchmark Co.... Amgen (AMGN) downgraded to Neutral from Outperform at Credit Suisse... Becton Dickinson (BDX) downgraded to Neutral from Buy at Mizuho... Diamond Offshore (DO) downgraded to Neutral from Outperform at Credit Suisse... F5 Networks (FFIV) downgraded to Hold from Buy at Needham... FirstEnergy (FE) downgraded to Underperform from Hold at Jefferies... Fortinet (FTNT) downgraded to Market Perform from Outperform at JMP Securities... LRR Energy (LRE) downgraded to Neutral from Outperform at RW Baird... Och-Ziff Capital (OZM) downgraded to Market Perform from Outperform at Keefe Bruyette... Open Text (OTEX) downgraded to Hold from Buy at Stifel Nicolaus... Roche (RHHBY) downgraded to Neutral from Outperform at Exane BNP Paribas... Trinity Biotech (TRIB) downgraded to Neutral from Buy at Roth Capital... Urban Outfitters (URBN) downgraded to Neutral from Overweight at Atlantic Equities... Uroplasty (UPI) downgraded to Market Perform from Outperform at JMP Securities... BP (BP) downgraded to Sector Perform from Outperform at RBC Capital... Johnson Controls (JCI) downgraded to Neutral from Buy at Lazard Capital... Morgan Stanley (MS)downgraded to Neutral from Positive at Susquehanna... Life Technologies (LIFE) downgraded to Market Perform from Outperform at William Blair... Kinder Morgan (KMI) downgraded to Hold from Accumulate at Tudor Pickering... Shutterfly (SFLY) downgraded to Neutral from Buy at Monness Crespi... Coach (COH) downgraded to Outperform from Buy at CLSA.
News For ARMH;BDX;DO;FFIV;FE;FTNT;LRE;OZM;OTEX;RHHBY;TRIB;URBN;UPI;BP;JCI;MS;LIFE;KMI;SFLY;COH From The Last 14 Days
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March 22, 2015
17:59 EDTBPOPEC will not take sole responsibility for supporting oil price, Reuters says
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March 20, 2015
15:40 EDTFTNT, FFIVMore cybersecurity firms to come public amid high market demand, Reuters says
With shares of publicly traded cybersecurity companies having recently outperformed the market, a number of privately-held IT security names, including Rapid7, LogRythm and Mimecast, plan to go public in 2015 amid the high level of investor interest, said Reuters, citing people familiar with the matter. Publicly traded companies in the space include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC). Reference Link
11:33 EDTRHHBYFly Review: Analysts correctly predict jump in Biogen shares
The shares of Biogen (BIIB) are rallying after the company reported results for a Phase 1b study of its Alzheimer's drug, BIIB-037. On March 18, as reported on that day by The Fly, RBC Capital predicted that the stock would rise after the results were published. A number of other firms were also upbeat on the stock ahead of the data release. WHAT'S NEW: Earlier this morning Biogen announced that the three milligram, six milligram, and ten milligram dose versions of its Alzheimer's treatment, aducanumab, had reduced the amount of amyloid plaque in the brains of Alzheimer's patients taking the drug by statistically significant amounts compared with those taking placebos. Beta amyloid is a protein that produces plaque in the brain. Scientists suspect that plaques in the brain are a cause of Alzheimer's. The cognitive decline of patients taking BIIB-037 was also significantly less than that of patients who were taking placebos, the company reported. PRE-EVENT CALLS: RBC Capital analyst Michael Yee predicted earlier this week in a note to investors that Biogen would report strong data for BIIB-037 and the stock should "work higher" after the data is unveiled. Alzheimer's patients taking the high dose of Biogen's BIIB-037 drug should exhibit a stabilization of cognition levels, Yee stated. Conversely, the cognition levels of patients taking the placebo should drop slightly, the analyst predicted. On March 13, in a note summarized by The Fly on that day, JPMorgan recommended buying Biogen shares ahead of the data release. Investors still incorporated a low probability of success for the drug, and the stock could rise further, the firm wrote. On March 19, in a note also published by The Fly, Credit Suisse wrote that Biogen's multiple could rise if the data on BIIB-037 was positive. It raised its price target on the name to $500 from $400. ANALYST REACTION: This morning, Barclays raised Biogen's price target to $500 from $435 following the company's report of "impressive" full results from the Alzheimer's study. Piper Jaffray analyst Joshua Schimmer also raised his price target for Biogen shares to $500 this morning, calling today’s BIIB-037 results "robust and impressive." Schimmer believes the trial showed a "consistent and dramatic" dose effect on both radiographic and clinical disease features and thinks the side effects "pale in comparison" to the drug’s efficacy. OTHERS TO WATCH: Eli Lilly (LLY) and Roche (RHHBY) are also currently developing similar Alzheimer's treatments. PRICE ACTION: In late morning trading, Biogen rose 7% to $464. The stock is up about 9% since Wednesday. Eli Lilly shares are up 1.6% to $75.40 this morning, while Roche rose 2.2% to $35. Reference Link
09:01 EDTRHHBYEli Lilly up 2% to $75.75 in pre-market trading
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07:19 EDTDO, BPWhite House expected to unveil fracking rules today, WSJ says
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06:37 EDTBPOil prices fall again, Reuters reports
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March 19, 2015
16:14 EDTRHHBYProthena report positive results from Phase 1 study of PRX002
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11:53 EDTMSU.S. banks face headwinds in unloading oil loans, WSJ says
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07:19 EDTBPKuwaiti minister says OPEC can't cut oil production, Bloomberg reports
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07:02 EDTRHHBYSigma-Aldrich signs exclusive distribution agreement with Roche
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March 18, 2015
16:00 EDTBPOptions Update; March 18, 2015
iPath S&P 500 VIX Short-Term Futures down 1.20 to 26.10. Option volume leaders: AAPL RAD PBR TWTR FB TSLA CLF BP MGM according to Track Data.
12:48 EDTRHHBYFly Watch: Biogen predicted to report strong Alzheimer's data this Friday
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10:48 EDTARMHCadence, ARM announce strategic IP interoperability agreement
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10:03 EDTBPBP call activity attributed to renewed takeover speculation
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10:00 EDTSFLYOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Columbia Pipeline (CPPL) initiated with a Buy at Citigroup... DBV Technologies (DBVT) initiated with a Buy at H.C. Wainwright... Genocea (GNCA) initiated with an Overweight at Piper Jaffray... NiSource (NI) initiated with a Neutral at JPMorgan... On Deck Capital (ONDK) initiated with a Sell at Compass Point... Rexel (RXEEY) initiated with an Overweight at Barclays... Shutterfly (SFLY) initiated with a Buy at Axiom... Virgin America (VA) initiated with an Underperform at Credit Suisse.
09:56 EDTBPRumor: BP strength attributed to takeover speculation
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08:08 EDTFTNTFortinet price target raised to $39 from $35 at Oppenheimer
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07:46 EDTRHHBYLilly Roche would have upbeat read through from strong BIIB data, says Bernstein
Bernstein notes that the data for Biogen's (BIIB) Alzheimer's treatment, due to be released on Friday, is widely expected to be positive. The firm thinks that positive data would boost the outlook for similar Alzheimer's drugs being developed by Eli Lilly (LLY) and Roche (RHHBY), since consensus estimates for those drugs are low. The firm keeps Outperform ratings on Eli Lilly and Roche.
07:02 EDTBPExterran nominates five new directors to board
Exterran Holdings (EXH) announced that its Board of Directors has nominated the following individuals for election to the Exterran Holdings Board at the Company’s 2015 Annual Meeting of Stockholders on April 28: Anne-Marie N. Ainsworth – former President and CEO of the general partner of Oiltanking Partners, L.P. (OILT); Frances Powell Hawes – independent financial consultant and former CFO of NCI Building Systems (NCS); James H. Lytal – independent energy consultant and former President of Gulfterra Energy Partners LP; Richard R. Stewart- former President and CEO of GE Aero Energy (GE); and Ieda Gomes Yell – Managing Director of Energix Strategy Ltd. and former President of BP Brazil (BP). “In November 2014, we announced a plan to separate Exterran’s international contract operations, international aftermarket services and global fabrication businesses into an independent, publicly traded company in the second half of 2015,” said Mark Sotir, Executive Chairman of the Board. “Our Board has nominated these additional well qualified director candidates in anticipation of certain of Exterran’s directors resigning from the Board at the time of the separation in order to join the board of directors of the new publicly traded company. We have not yet reached a final determination regarding which directors will remain on Exterran’s Board and which directors will join the board of directors of SpinCo at the time of the separation.”
06:32 EDTSFLYShutterfly initiated with a Buy at Axiom
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