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Stock Market & Financial Investment News

News Breaks
May 29, 2014
10:26 EDTTOT, SLW, RGLD, FNV, CLNE, BLDR, ARUN, TXMD, SABR, PAHC, FRP, CSG, BANC, PLUS, SGY, SCYX, GBNK, EXAM, CLMT, ATMLOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Aruba Networks (ARUN) management to meet with Piper Jaffray... Atmel (ATML) initiated with an Outperform at Imperial Capital... Banc of California (BANC) initiated with a Buy at BofA/Merrill... Builders FirstSource (BLDR) initiated with a Hold at Stifel... Calumet Specialty Products (CLMT) initiated with a Market Perform at Wells Fargo... Chambers Street Properties (CSG) initiated with an Outperform at Wells Fargo... Clean Energy (CLNE) initiated with an Overweight at Morgan Stanley... ExamWorks (EXAM) initiated with a Buy at Deutsche Bank... FairPoint (FRP) initiated with a Market Perform at Wells Fargo... Franco-Nevada (FNV) initiated with an Equal Weight at Morgan Stanley... Guaranty Bancorp (GBNK) initiated with a Neutral at Sterne Agee... Phibro Animal Health (PAHC) initiated with an Outperform at Macquarie... Royal Gold (RGLD) initiated with an Overweight at Morgan Stanley... SCYNEXIS (SCYX) initiated with a Buy at Canaccord... Sabre (SABR) initiated with an Outperform at Bernstein... Silver Wheaton (SLW) initiated with an Equal Weight at Morgan Stanley... Stone Energy (SGY) initiated with a Buy at Brean Capital... TherapeuticsMD (TXMD) initiated with a Buy at Jefferies... Total (TOT) initiated with a Hold at Jefferies... ePlus (PLUS) initiated with an Outperform at William Blair.
News For ARUN;ATML;BANC;BLDR;CLMT;CSG;CLNE;EXAM;FRP;FNV;GBNK;PAHC;RGLD;SCYX;SABR;SLW;SGY;TXMD;TOT;PLUS From The Last 14 Days
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April 14, 2015
07:05 EDTBLDRBuilders FirstSource upgraded after acquisition at Stifel
As noted earlier, Stifel upgraded Builders FirstSource to Buy from Hold. The firm estimates that the company's planned acquisition of building products distributor ProBuild increases its EBITDA potential to as much as $500M in 2017 from the current $120M range. The firm says the transaction is positive, assuming that $100M+ of cost savings are generated and housing construction activity increases. Target $20.
06:41 EDTBLDRBuilders FirstSource upgraded to Buy from Hold at Stifel
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06:40 EDTTOTU.S. shale forecast, Yemen fighting lift oil prices, Reuters says
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06:06 EDTCLNEClean Energy begins fueling at two new CNG stations in Southern California
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April 13, 2015
20:16 EDTFRPUSTelecom files net neutrality lawsuit against FCC
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16:21 EDTBLDROn The Fly: Top stock stories for Monday
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13:26 EDTBLDROn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday, with the Dow and S&P 500 slightly lower and the Nasdaq clinging to a narrow gain. The broader market opened in positive territory and the averages moved in a narrow trading range during the morning. The Nasdaq has been the strongest of the indices since the open, though early gains from Apple (AAPL) and Qualcomm (QCOM) had evaporated by near midday, taking a bite out of the gains the index had been seeing earlier in the session. ECONOMIC EVENTS: In the U.S., no major economic data was released. In China, export sales unexpectedly contracted 15% in March, while imports shrank 12.7% last month from a year ago. The March fall in imports was in line with forecasts, unlike the one for exports, which were expected to rise 12%. COMPANY NEWS: Activist investor Jana Partners is putting pressure on Qualcomm to increase stock buybacks and take other actions to increase shareholder value, including an exploration of spinning off its chip unit from its patent-licensing unit. In response to statements made by JANA, Qualcomm noted that it recently increased its stock repurchase authorization to $15B and repeated that it plans to repurchase $10B of common stock within one year. Barry Rosenstein of JANA Partners, while speaking on CNBC, said Qualcomm should buy back $15B of its shares over the next six months, before the company undertakes strategic actions that could move the stock higher... Apple shares were rising early in the trading day but had given up their gains by midday. Pre-orders of its new Apple Watch started Friday. The company did not release any sales figures for the first weekend, but research firm Slice Intelligence estimated that nearly one million customers in the U.S. preordered the device on the first day it was available. MAJOR MOVERS: Among the notable gainers were Alamos Gold (AGI), which rose 6%, and AuRico Gold (AUQ), which rose 7%, after the companies announced an agreement to combine via "a merger of equals" with a transaction equity value of about $1.5B. Upon completion of the deal, former Alamos and AuRico shareholders will each own approximately 50% of the new Alamos Gold and a new company, to be named AuRico Metals, will be created to hold AuRico's Kemess project and some other assets. The newly formed company will own a 4.9% equity interest in the spinoff and the remaining "SpinCo" shares will be distributed 50% each to former Alamos and AuRico shareholders. Also higher was Builders FirstSource (BLDR), which gained 65% after announcing that it has entered into an agreement to acquire ProBuild Holdings in an all-cash transaction valued at about $1.63B. Among the noteworthy losers was Basic Energy (BAS), which fell 8% after Raymond James downgraded the stock to Market Perform based on valuation, substantial pricing pressure, and industry overcapacity. Also lower were U.S.-listed shares of Sina (SINA), which dropped 5% after the Financial Times reported that China's government has warned that it will shut down the company's service if it does not "improve censorship." INDEXES: Near midday, the Dow was down 19.08, or 0.11%, to 18,038.57, the Nasdaq was up 7.93, or 0.16%, to 5,003.91, and the S&P 500 was down 3.04, or 0.14%, to 2,099.02.
09:20 EDTBLDROn The Fly: Pre-market Movers
HIGHER: Builders FirstSource (BLDR), up 54.35% after acquiring ProBuild in all-cash transaction... Arrowhead (ARWR), up 14.3% after being cleared to proceed with multiple dose Phase 2b study of ARC-520... Oramed Pharmaceuticals (ORMP), up 6.9% after enrolling first patient in glucose clamp study for oral insulin... Clovis Oncology (CLVS), up 8.2% after being upgraded to Buy from Neutral at Goldman... Quantum (QTM), up 3.2% after announcing go-to-market partnership with Dot Hill Systems (HILL)... Netflix (NFLX), up 3.4% after being upgraded to Buy from Neutral at UBS... Apple (AAPL), up just under 1% following reports of Apple Watch orders. LOWER: Sina (SINA), down 3% following a report from the Financial Times that China may shut down the company if censorship doesn't improve... Ruckus Wireless (RKUS), down 2.9% after being downgraded to Buy from Conviction Buy at Goldman... Allot Communications (ALLT), down 2.7% after being downgraded to Hold from Buy at Needham.
08:17 EDTARUNAruba Networks selected by Boston Medical Center for app solutions
Aruba Networks announced that Boston Medical Center, a private, not-for-profit, 482-bed, academic medical center in Boston, MA., is deploying Aruba’s 802.11ac and mobile app solutions to enable a campus-wide Gigabit wireless network with indoor location services that will benefit physicians, staff and patients.
08:08 EDTBLDRBuilders FirstSource acquires ProBuild in all-cash transaction valued at $1.63B
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08:04 EDTBLDRBuilders FirstSource acquires ProBuild in all-cash transaction valued at $1.63B
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April 12, 2015
16:49 EDTTOTIEA says Iran nuke deal to have limited impact on supply for years, Reuters says
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April 10, 2015
06:31 EDTCSGChambers Street Properties initiated with a Buy at DA Davidson
Target $9.
April 9, 2015
17:03 EDTSCYXSCYNEXIS files to sell $30M of common stock
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16:56 EDTSCYXSCYNEXIS explores sale of contract research and development services business
In a regulatory filing, SCYNEXIS reports that it is currently exploring the divestiture of its contract research and development services business.
08:21 EDTTOTRoyal Dutch Shell and BP yet to meet Abu Dhabi's sign-on fee, WSJ reports
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April 7, 2015
10:05 EDTTOTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Carnival (CCL) upgraded to Outperform from Market Perform at Wells Fargo... Crown Castle (CCI) upgraded to Buy from Hold at Evercore ISI... Ctrip.com (CTRP) upgraded to Overweight from Neutral at Piper Jaffray... Demandware (DWRE) upgraded to Conviction Buy from Buy at Goldman... FirstEnergy (FE) upgraded at BofA/Merrill... Frontier Communications (FTR) upgraded to Neutral from Underperform at DA Davidson... JPMorgan (JPM) upgraded to Outperform from Market Perform at Bernstein... Pattern Energy (PEGI) upgraded to Outperform from Market Perform at Raymond James... Ralph Lauren (RL) upgraded to Buy from Outperform at CLSA... ResMed (RMD) upgraded to Outperform from Neutral at Credit Suisse... Ryanair (RYAAY) upgraded to Overweight from Neutral at JPMorgan... Splunk (SPLK) upgraded to Overweight from Neutral at Piper Jaffray... Total (TOT) upgraded at RBC Capital... Verifone (PAY) upgraded to Buy from Hold at Stifel... XL Group (XL) upgraded to Buy from Neutral at UBS.
07:01 EDTTOTTotal upgraded at RBC Capital
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06:43 EDTTOTOil retreats on reports of Iran, China talks, Reuters says
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06:15 EDTTOTTotal upgraded to Outperform from Sector Perform at RBC Capital
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