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Stock Market & Financial Investment News

News Breaks
November 6, 2012
10:02 EDTTDC, SREV, KBW, ENR, ASEI, HME, BMRN, SKM, ESRX, ATOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Science & Engineering (ASEI) downgraded to Hold from Buy at Benchmark Co.... Atlantic Power (AT) downgraded to Hold from Buy at Desjardins... BioMarin (BMRN) downgraded to Hold from Buy at Brean Capital... Energizer (ENR) downgraded to Market Perform from Outperform at Bernstein... Express Scripts (ESRX) downgraded to Hold from Buy at Jefferies... Home Properties (HME) downgraded to Underperform from Sector Perform at RBC Capital... KBW, Inc. (KBW) downgraded to Market Perform from Outperform at JMP Securities... SK Telecom (SKM) downgraded to Neutral from Outperform at Credit Suisse... ServiceSource (SREV) downgraded to Equal Weight from Overweight at Morgan Stanley... Teradata (TDC) downgraded to Sector Perform from Outperform at FBN Securities.
News For ASEI;AT;BMRN;ENR;ESRX;HME;KBW;SKM;SREV;TDC From The Last 14 Days
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February 9, 2016
19:09 EDTATAtlantic Power backs FY15 project adjusted EBITDA view of $200M-$215M
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19:08 EDTATAtlantic Power reports capital allocation strategy changes, eliminates dividend
Atlantic Power announced changes to its capital allocation strategy designed to create value for shareholders in a tax-efficient manner, while also improving the company's financial flexibility and strengthening its balance sheet. As part of this strategy, the company will prioritize allocation of its discretionary capital to equity and debt repurchases, each under the normal course issuer bid, or NCIB, implemented in December 2015, with a goal of capturing value arising from compelling price-to-value opportunities in its publicly traded securities. In addition, the company has identified additional high-return investments in its existing projects as well as potential repowering projects linked to extensions of power purchase agreements, or PPAs. Investments of this type yielded an average cash return of approximately 26% in 2015. As a result of this redirection of capital to expected higher-return purposes, the board, consistent with management's recommendation, has eliminated the company's common stock dividend, effective immediately. Previously, the company had paid a dividend of C$0.03 per share quarterly, with the most recent payment on December 31, 2015. In conjunction with the elimination of the common stock dividend, the company's dividend reinvestment plan, or DRIP, has been terminated.
15:52 EDTASEIAmerican Science & Engineering sees Q4 charge from job cuts
On February 8, the Company commenced a cost reduction plan to reduce operating expenses. In connection with this plan, the Company initiated a workforce reduction. The reduction in workforce affected workers across all business areas of the business. Affected employees are entitled to receive certain severance and other benefits consistent with their position and tenure with the Company. The majority of the workforce reduction is expected to be completed by March 31. In connection with the reduction, the Company expect to record a charge of approximately $1.6M to $1.8M in the fourth quarter fiscal 2016.
10:00 EDTASEIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Capital Senior Floating (ACSF) downgraded to Market Perform at Keefe Bruyette... American Science & Engineering (ASEI) downgraded to Hold from Buy at Benchmark... ArcelorMittal (MT) downgraded to Neutral from Overweight at JPMorgan... BioCryst (BCRX) downgraded to Hold from Buy at Jefferies... Brixmor (BRX) downgraded to Underperform from Outperform at RBC Capital... Diana Shipping (DSX) downgraded to Neutral from Buy at Clarksons Platou... Eagle Point Credit (ECC) downgraded to Neutral from Buy at Compass Point... Golden Ocean (GOGL) downgraded to Neutral from Buy at Clarksons Platou... Lukoil (LUKOY) downgraded to Hold from Buy at Deutsche Bank... Memorial Resource (MRD) downgraded to Neutral from Overweight at JPMorgan... Navios Maritime (NM) downgraded to Neutral from Buy at Clarksons Platou... Northstar Realty (NRF) downgraded to Market Perform from Outperform at Keefe Bruyette... Plains All American (PAA) downgraded to Neutral from Buy at BofA/Merrill... Plains GP Holdings (PAGP) downgraded to Neutral from Buy at BofA/Merrill... Qualys (QLYS) downgraded to Neutral from Buy at DA Davidson... Quidel (QDEL) downgraded to Hold from Buy at Canaccord... Randgold (GOLD) downgraded to Hold from Buy at Deutsche Bank... Scorpio Bulkers (SALT) downgraded to Neutral from Buy at Clarksons Platou... Tortoise Energy (TYG) downgraded to Hold from Buy at Stifel... Winnebago (WGO) downgraded to Neutral from Buy at Northcoast.
06:48 EDTASEIAmerican Science & Engineering downgraded to Hold from Buy at Benchmark
Benchmark analyst Josephine Millward downgraded American Science & Engineering to Hold with a $30 price target following the company's Q3 results.
February 8, 2016
16:09 EDTASEIAmerican Science & Engineering reports Q3 EPS (6c), one estimate 18c
Reports Q3 revenue $22.2M, two estimates $34.64M. Q3 results were adversely affected by continuing regional volatility and falling oil prices in strategic end-markets.
10:17 EDTBMRNSarepta approval seen as 'long shot' as FDA pushes back decision
Shares of drugmaker Sarepta Therapeutics (SRPT) took a dive in morning trading after the company said the U.S. Food and Drug Administration delayed a decision on eteplirsen for the treatment of Duchenne muscular dystrophy. WHAT'S NEW: Sarepta announced that the FDA has pushed out the the Prescription Drug User Fee Act, or PDUFA, date for eteplirsen for the treatment of Duchenne muscular dystrophy to May 26. The previous PDUFA date for the eteplirsen new drug application, or NDA, was originally set for late February. FDA POSTPONEMENT: The FDA notified Sarepta that it's submission of 4-year clinical data, including additional six minute walk test and loss of ambulation data compared to historical control, was designated as a "major amendment" to the NDA and that the PDUFA goal date was extended to allow for a full review of the submission. The FDA previously granted eteplirsen Priority Review status, as well as Rare Pediatric Disease Designation, Orphan Drug Designation and Fast Track Status to eteplirsen. WHAT'S NOTABLE: In late January, the FDA postponed a meeting of its advisory committee to review the Sarepta drug due to an inclement weather forecast for Washington D.C. LONG SHOT: Piper Jaffray analyst Edward Tenthoff told investors in a note that the FDA's PDUFA date postponement for eteplirsen is "not surprising" following the delay of the January 22 AdCom due to weather. Tenthoff also noted that a new AdCom has yet to be scheduled. The analyst continues to see eteplirsen accelerated approval by the new PDUFA date as a "long shot." He believes that the panel discussion will be a "plea from the community" to approve something for DMD and that members will not be asked to vote on drug approval. Tenthoff has a Neutral rating and $15 price target on Sarepta. OTHERS TO WATCH: Other companies developing treatments for Duchenne muscular dystrophy include BioMarin (BMRN) and PTC Therapeutics (PTCT). PRICE ACTION: Sarepta is down 9.5% in morning trading to $11.06.
February 5, 2016
10:08 EDTESRXExpress Scripts calls active
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February 4, 2016
09:43 EDTTDCTeradata sees $75M-$100M in costs and charges from transformation
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06:59 EDTTDCTeradata sees FY16 EPS $2.35-$2.50, consensus $2.30
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06:58 EDTTDCTeradata reports Q4 EPS 70c, consensus 70c
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February 3, 2016
12:24 EDTENROn The Fly: Top stock stories at midday
Stocks on Wall Street began the day in positive territory thanks in part to higher oil prices, dovish comments from NY Fed Governor Bill Dudley and a positive jobs report from ADP. The early gains were short lived, as the market saw its highest prices at the open and then drifted lower, gaining downside momentum after two reports on the services sector both pointed to a deceleration. After the Dow lost more than 100 points, the market found a level and bounced back, leaving the averages lower but off their worst levels near noon. ECONOMIC EVENTS: In the U.S., ADP estimated that private payrolls grew by 205,000 jobs in January, topping the consensus forecast for 190,000 job additions. Markit's services PMI came in at 53.2, versus the consensus 53.7 forecast. The Institute for Supply Management's non-manufacturing index came in at 53.5 for January, down from 55.3 in the previous month and below the 55.1 reading forecast by analysts. In Asia, the Caixin services PMI for China climbed to 52.4 in January from 50.2 in December, while Japan's services PMI rose to 52.4 from 51.5 in the prior month. Additionally, China's National Development and Reform Commission set its economic growth projection range for this year at 6.5%-7%, noting that attempts to curb overcapacity will increase unemployment in provinces with high output of steel and coal. In Europe, Markit's composite purchasing managers index for January declined to 53.6 from 54.3 in December. COMPANY NEWS: Shares of Yahoo (YHOO) declined 6% after the embattled Internet company reported fourth quarter results and announced plans to simplify its product portfolio and reduce its workforce by roughly 15%. Maynard Webb, Yahoo's Chairman, said the company's board is committed to its turnaround efforts and supportive of management's plan, but also believes that exploring additional strategic alternatives is in the best interest of its shareholders, though the acknowledgment that the company will "engage on qualified strategic proposals" did little to boost its shares this morning... Chipotle Mexican Grill (CMG) fell 4% after reporting lower than expected revenue and stating that its same-store sales had plunged more than 14% last quarter. Additionally, the burrito chain disclosed that it was served with a subpoena broadening the scope of the previously-announced criminal investigation that was limited to a single Chipotle restaurant in California. As Chipotle shares continue to get punished over the company's food safety issues, another stock was hit today by a similar fear, as Buffalo Wild Wings (BWLD) slid 6% after one of its locations was named as a suspected source of new cases of people suffering from norovirus-like symptoms in suburban Kansas City. However, the company said there "is no conclusive link to [its] restaurant being the source of the illness" and that the location reopened on Wednesday after a consultation with the health department... Merck (MRK) was one of the worst performers on the Dow, sliding nearly 3% after its earnings narrowly topped expectations but its guidance for the new fiscal year fell short of expectations. Among other large cap names reporting earnings this morning, Comcast (CMCSA) rose 4% following its report, while General Motors (GM) slid 4%. MAJOR MOVERS: Among the notable gainers was Autodesk (ADSK), which rallied more than 8% after it announced a restructuring plan that involves reducing its workforce by roughly 10%. Also higher were Energizer (ENR), Spectra Energy (SE), and Avery Dennison (AVY), which gained 15%, 7%, and 7%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Lowe's (LOW), which fell 7% after it agreed to acquire Canada's RONA in a deal valued at $2.3B. Also lower were Mondelez (MDLZ), Match Group (MTCH), and MPLX (MPLX), which were down 7%, 14%, and 19%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was down 13.22, or 0.08%, to 16,140.32, the Nasdaq was down 48.09, or 1.06%, to 4,468.85, and the S&P 500 was down 11.42, or 0.6%, to 1,891.61.
05:55 EDTENREnergizer sees FY16 spin, restructuring costs about $15M
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05:54 EDTENREnergizer sees FY16 adjusted EPS at upper end of $1.90-$2.10, consensus $2.04
Sees FY16 revenue down low to mid-single digits. Organic net sales are now expected to be flat to up low-single digits; The negative impact of foreign currency movement is creating additional headwinds and are now expected to reduce net sales by $65M-$75M; International go-to-market changes are expected to reduce net sales in the low single digits, consistent with the prior outlook; and Change in Venezuela results, due to the previously announced deconsolidation, will reduce net sales by $8.5M, or 0.5%, consistent with the prior outlook.
05:52 EDTENREnergizer reports Q1 EPS $1.05, consensus 70c
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February 2, 2016
11:01 EDTSREVServiceSource to open service delivery center in Bulgaria
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10:53 EDTSKMSK Telecom downgraded to Neutral from Buy at UBS
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08:36 EDTBMRNPiper Jaffray biopharma analyst holds an analyst/industry conference call
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February 1, 2016
17:43 EDTATMangrove Partners reports 6.7% stake in Atlantic Power
Mangrove Partners has engaged in and intends to continue to have discussions with the company regarding matters related to the Settlement Agreement announced on May 21, 2015.
January 29, 2016
10:13 EDTESRXExpress Scripts to exclude Valeant's Glumetza from formulary
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