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Stock Market & Financial Investment News

News Breaks
April 1, 2013
10:13 EDTARR, RPT, YHOO, ARII, INTC, WRI, VCI, GIS, XEC, AEGN, SXC, CBI, ABBV, BPL, CSE, CCE, RGC, SUSQ, SXE, UAL, PDM, CGOOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ARMOUR Residential (ARR) downgraded to Equal Weight from Overweight at Barclays... AbbVie (ABBV) downgraded to Market Perform from Outperform at BMO Capital... Buckeye Partners (BPL) downgraded to Hold from Buy at Deutsche Bank... CapitalSource (CSE) downgraded to Equal Weight from Overweight at Barclays... Coca-Cola Enterprises (CCE) downgraded to Neutral from Buy at Goldman... Regal Entertainment (RGC) downgraded to Neutral from Buy at MKM Partners... Southcross Energy Partners (SXE) downgraded to Equal Weight at Barclays... Susquehanna (SUSQ) downgraded to Hold from Buy at Jefferies... United Continental (UAL) downgraded to Equal Weight from Overweight at Evercore... Piedmont Office Realty (PDM) downgraded to Sell from Hold at Stifel... Chicago Bridge & Iron (CBI) downgraded to Overweight from Focus List at Johnson Rice... SunCoke Energy (SXC) downgraded to Buy from Conviction Buy at Goldman... Ramco-Gershenson (RPT) downgraded to Underperform from Neutral at BofA/Merrill... Yahoo (YHOO) downgraded to Hold from Buy at Pivotal Research... American Railcar (ARII) downgraded to Equal Weight from Overweight at Stephens... Intel (INTC) downgraded to Market Perform from Outperform at JMP Securities... Weingarten Realty (WRI) downgraded to Neutral from Buy at BofA/Merrill... Valassis (VCI) downgraded to Neutral from Buy at Lazard Capital... General Mills (GIS) downgraded to Equal Weight from Overweight at Morgan Stanley... Range Resources (RRC) downgraded to Neutral from Accumulate at Global Hunter... Aegion (AEGN) downgraded to Underperform from Neutral at Wedbush... Cabot Oil & Gas (COG) downgraded to Neutral from Accumulate at Global Hunter... Cimarex Energy (XEC) downgraded to Neutral from Buy at Global Hunter.
News For ARR;ABBV;BPL;CSE;CCE;RGC;SUSQ;SXE;UAL;PDM;CBI;SXC;RPT;YHOO;ARII;INTC;WRI;VCI;GIS;XEC;AEGN;CGO From The Last 14 Days
Check below for free stories on ARR;ABBV;BPL;CSE;CCE;RGC;SUSQ;SXE;UAL;PDM;CBI;SXC;RPT;YHOO;ARII;INTC;WRI;VCI;GIS;XEC;AEGN;CGO the last two weeks.
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September 3, 2014
16:09 EDTABBVAbbVie confirms FY14 adjusted EPS view $3.06-$3.16, consensus $3.16
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13:13 EDTPDMPiedmont Office Realty property acquisition positive, says Wells Fargo
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13:02 EDTABBVAbbVie, Calico announce collaboration
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12:33 EDTABBVOn The Fly: Midday Wrap
Stocks on Wall Street were higher to begin the day, as reports spurred optimism that a ceasefire agreement between Russia and the Ukraine may soon be reached. The move was short lived, as the averages turned mixed during the second hour of trading. Shares of Apple (AAPL) are weighing down the Nasdaq after an analyst recommended investors take some profits in the stock. ECONOMIC EVENTS: In the U.S., factory orders rose 10.5% in July, which was a bit below the forecast for 11.0% growth. The Fed's Beige Book is scheduled to be released at 2:00 pm ET. In Europe, the final reading of Eurozone services PMI was knocked down to 53.1 from a preliminary 53.5 reading, mirroring the lowering of the Eurozone manufacturing PMI reading yesterday. COMPANY NEWS: Shares of Apple retreated 4% after research firm Pacific Crest advised investors to take some profits in the stock. Pacific Crest analyst Andy Hargreaves forecast the percentage of new iPhone users who buy the next version of the device beyond the iPhone 6 is likely to decline versus prior cycles. The stock likely has only limited room to increase, according to Hargreaves, who said he would probably downgrade Apple unless new products that can generate billions of dollars in new operating profit are launched at its September 9 event... Carmakers reported on August vehicle sales in the U.S., with Chrysler (FIATY) reporting a 20% increase, Ford stating that sales rose slightly compared to the prior year and General Motors (GM) posting a 1.2% decline in sales. MAJOR MOVERS: Among the notable gainers was Infinity Pharmaceuticals (INFI), which jumped 46% after the company announced a cancer drug collaboration with AbbVie (ABBV) and a master clinical supply agreement with Roche (RHHBY). Also higher was Mobileye (MBLY), which gained nearly 10% after Morgan Stanley wrote that the stock could rise "towards $100" if the company maintains its current market, gross margins and earnings position. Mobileye is scheduled to report on its second quarter results tomorrow morning, which will be its first quarterly report since its August IPO. Among the noteworthy losers was Repros Therapeutics (RPRX), which dropped 15% after newly posted FDA briefing documents regarding a panel on T-normalizing therapies prompted Piper Jaffray to downgrade the stock to Neutral from Overweight. Also lower following its earnings report was apparel company Vince Holding (VNCE), which fell 11%. INDEXES: Near midday, the Dow was up 33.71, or 0.2%, to 17,101.27, the Nasdaq was down 23.24, or 0.51%, to 4,574.95, and the S&P 500 was down 0.64, or 0.03%, to 2,001.64.
11:40 EDTYHOOYahoo volatility elevated into Alibaba offering
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10:28 EDTYHOOYahoo CFO: We have a high bar when it comes to acquisitions
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09:15 EDTCCE, ABBVOn The Fly: Pre-market Movers
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08:34 EDTINTCIntel volatility increases as shares near 10-year high
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07:59 EDTABBVInfinity Pharmaceuticals to host conference call
Conference call to discuss the strategic collaboration with AbbVie Inc to develop and commercialize duvelisib will be held on September 3 at 8:30 am. Webcast Link
07:44 EDTINTCIntel management to meet with Deutsche Bank
Meetings to be held in Amsterdam/Milan on September 3 hosted by Deutsche Bank.
07:01 EDTCCECoca-Cola Enterprises sees FY14 EPS growth of approx. 10%
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06:48 EDTABBVInfinity, AbbVie announce global strategic collaboration to develop duvelisib
Infinity Pharmaceuticals (INFI) and AbbVie (ABBV) announced that they have entered into a global collaboration to develop and commercialize duvelisib, Infinity’s oral inhibitor of phosphoinositide-3-kinase-delta and PI3K-gamma, for the treatment of patients with cancer. Duvelisib has shown clinical activity across a broad range of blood cancers, including indolent non-Hodgkin lymphoma and chronic lymphocytic leukemia. Infinity is conducting registration-focused trials evaluating the safety and efficacy of duvelisib, including DYNAMOTM, a Phase 2 study in patients with iNHL, and DUOTM, a Phase 3 study in patients with CLL. Under the terms of the agreement, Infinity will receive an upfront payment of $275M and is eligible to receive up to $530M in additional payments for the achievement of development, regulatory and commercial milestones, including up to $405M for the achievement of milestones through the first commercial sale of duvelisib. In the U.S., the companies will jointly commercialize duvelisib and will share equally in any potential profits. Outside the U.S., AbbVie will be responsible for the conduct and funding of commercialization of duvelisib, and Infinity is eligible to receive tiered double-digit royalties on net product sales. Development and commercialization activities under the collaboration will be managed through a shared governance structure. In the U.S., Infinity and AbbVie will jointly commercialize duvelisib, assuming regulatory approval, with Infinity booking sales, and will share equally in any potential profits or losses. Outside the U.S., AbbVie will be responsible for conducting and funding of any commercialization of duvelisib, and Infinity is eligible to receive tiered royalties on net product sales, with percentages ranging from 23.5%-30.5%. For sales of duvelisib in the U.S., AbbVie and Infinity will share equally the existing royalty obligations to Mundipharma International Corporation Limited/Purdue Pharmaceutical Products L.P., and Infinity will be responsible for these royalty obligations outside of the U.S. Infinity will also be responsible for the existing royalty obligations to Millennium: The Takeda Oncology Company for sales of duvelisib worldwide. As part of the strategic collaboration, the companies will share responsibility for the conduct of specific trials specified within an agreed-upon global development plan, with each company leading the development of certain trials within the plan. For the initial global development plan agreed to by the companies, Infinity will fund the trials it conducts and the companies will share equally the funding of trials conducted by AbbVie. The agreement includes plans to launch multiple Phase 2 and Phase 3 studies of duvelisib in hematologic malignancies over the next several years.
06:48 EDTABBVInfinity Pharmaceuticals, AbbVie announce global strategic collaboration
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05:55 EDTYHOOStocks with implied volatility above IV index mean; AMD YHOO
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September 2, 2014
17:05 EDTPDMPiedmont Office Realty acquires Class A property for $80.75M
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16:10 EDTBPLBuckeye to acquire 80% interest in Corpus Christi, Eagle Ford assets for $860M
Buckeye Partners announced that it has signed a definitive agreement to acquire an 80% interest in a company that will be owned jointly with Trafigura for $860M. The company and its subsidiaries will own and operate a vertically integrated system of midstream assets including a deep-water, high volume marine terminal located on the Corpus Christi Ship Channel, a condensate splitter and LPG storage complex in Corpus Christi, and three crude oil and condensate gathering facilities in the Eagle Ford shale. All of the assets are supported by 7-10 year minimum volume throughput, storage and tolling agreements with Trafigura. This transaction is expected to close later in September. CEO Clark Smith said, "Substantial fee-based cash flows are expected to be generated by this investment as all of the assets are fully contracted under long-term commercial agreements with Trafigura. We expect to achieve a very attractive Adjusted EBITDA investment multiple of approximately 8.5x after the completion of the growth capital projects currently underway, and we expect this investment to be highly accretive to our distributable cash flow per limited partner unit in 2016 and beyond." Buckeye Texas Partners expects to invest approximately $240M-$270M through 1Q16 relating to these growth capital initiatives that we anticipate will be operational over the next 9-18 months. 100% of the cash flows associated with all of these assets are supported by fee-based take-or-pay revenue commitments under 7-10 year commercial agreements with Trafigura.
07:12 EDTABBVCredit Suisse names its Top U.S. Pharmaceutical picks for 2H
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07:07 EDTINTCIntel management to meet with Deutsche Bank
Meeting to be held in Edinburgh, Scotland on September 2 hosted by Deutsche Bank.
06:36 EDTABBVMedtronic, AbbVie reimburse executives for inversion-triggered taxes, WSJ says
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06:34 EDTYHOOStocks with implied volatility above IV index mean; AMD YHOO
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