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December 19, 2012
10:10 EDTTESO, SWN, QEP, HST, GWAY, YELP, AMTD, PBY, JAH, TGT, PWR, ONXX, HIG, SCHW, ATRS, EGN, BIDU, EQT, BCROn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Antares Pharma (ATRS) initiated with a Buy at Jefferies... Baidu (BIDU) initiated with a Sell at Maxim... C.R. Bard (BCR) initiated with an Outperform at JMP Securities... Charles Schwab (SCHW) coverage assumed with an Outperform at William Blair... EQT Corporation (EQT) initiated with a Buy at Societe Generale... Energen (EGN) initiated with a Buy at Wunderlich... Greenway Medical (GWAY) initiated with a Market Perform at Wells Fargo... Hartford Financial (HIG) initiated with a Buy at MKM Partners... Host Hotels (HST) initiated with a Hold at Sandler O'Neill... Jarden (JAH) initiated with an Overweight at JPMorgan... Onyx Pharmaceuticals (ONXX) initiated with a Buy at UBS... Pep Boys (PBY) coverage transferred with a Hold at Stifel Nicolaus... QEP Resources (QEP) initiated with a Buy at Guggenheim... Quanta Services (PWR) initiated with a Buy at UBS... Southwestern Energy (SWN) initiated with a Buy at Societe Generale... TD Ameritrade (AMTD) initiated with an Outperform at William Blair... Target (TGT) initiated with a Hold at Stifel Nicolaus... Tesco (TESO) re-initiated with a Buy at Sidoti... Yelp (YELP) initiated with a Market Perform at Northland Securities.
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August 18, 2015
07:29 EDTSWN, QEPEnerCom to hold a conference
The Oil & Gas Conference is being held in Denver, Colorado on August 16-20 with webcasted company presentations to begin on August 18 at 10:00 am; not all company presentations may be webcasted. Webcast Link
August 17, 2015
13:30 EDTTGTOn The Fly: Top stock stories at midday
Stocks began the session deep in negative territory after a disappointing Empire Manufacturing report. The data got the market off to a weak start as optimism over last week's finish began to fade. The averages continued to drift in a narrow range for the opening hour before reversing and capturing the opening losses. Each of the major equity indices is now back in positive territory sporting slight gains across the board. ECONOMIC EVENTS: In the U.S., the Empire State manufacturing index plunged to -14.92 in August after rebounding to 3.86 in July from June's -1.98. The consensus estimate was 4.75, and the surprising drop puts the index at its lowest point since April 2009. The employment component slid to 1.82, while new orders crashed to -15.70. Meanwhile, the U.S. NAHB homebuilder sentiment index rose to 61 in August from 60 in June and and is the highest since November 2005. The single family sales index edged up to 66 versus a revised 65 last month, while the index of prospective buyer traffic improved to 45 versus 43 previously. In Europe, various Eurozone parliaments prepare to vote on Greece's new EUR86B bailout plan this week. COMPANY NEWS: Liberty Interactive (QVCA) announced this morning an agreement to acquire zulily (ZU) for $18.75 per share in a deal valuing the online shopping site at $2.4B, driving zulily shares up more than 47% in intraday trading. The acquisition will be attributed to Liberty's QVC Group tracking stock, though QVC and zulily will be operated as separate consumer facing brands. On a conference call discussing the acquisition, Liberty Interactive executives noted that the "highly efficient" deal will allow Liberty to reach a younger base. MAJOR MOVERS: Among the notable gainers AVEO Oncology (AVEO), which rose roughly 50% after announcing a license agreement with Novartis (NVS) for the development and commercialization of AVEO's AV-380 drug and related antibodies. Also higher was Kite Pharma (KITE), which advanced roughly 5.4% after clarifying that an earlier patient death in its Phase 1/2 KTE-C19 trial for non-Hodgkin's lymphoma was unrelated to Kite's therapy. Additionally, shares of Target (TGT) have gained roughly 10c despite lingering in negative territory early Monday after the company promoted CFO John Mulligan to the newly created role of EVP and COO and appointed Cathy Smith as EVP and CFO. Prior to joining Target, Smith served as EVP and CFO at St. Louis-based Express Scripts (ESRX). Among the noteworthy losers was KKR (KKR), which lost roughly 2.4% after Samson Resources announced a restructuring agreement late Friday, adding that it expects to file for bankruptcy within 30 days. Also lower was Estee Lauder (EL), which declined nearly 6.5% after its quarterly guidance missed analysts' estimates. INDEXES: Near midday, The Dow was up 65.11, or 0.37%, to 17,542.51, the Nasdaq gained 34.73, or 0.69%, to 5,082.96, and the S&P 500 advanced 8.80, or 0.42%, to 2,101.03.
13:11 EDTYELPAlibaba unlikely to make competing offer for zulily, say Baird
zulily (ZU) shareholder Alibaba (BABA) is unlikely to make a competing takeover bid for the online retailer, Baird analyst Colin Sebastian tells investors in a research note. Alibaba, which upped its stake in zulily to 9% in May, likely views the company as an investment rather than a vehicle to enter the U.S. market, Sebastian argues. This morning, Liberty Interactive (QVCA) announced it had reached an agreement to acquire zulily for $18.75 per share or $2.4B. The analyst sees strategic benefits from the deal. Increased takeover activity in the small-cap internet space could support the valuations of the remaining independents, including ChannelAdvisor (ECOM), Yelp (YELP), Groupon (GRPN), Angie's List (ANGI) and RetailMeNot (SALE), Sebastian writes. Shares of zulily are soaring 47% to $18.50 following the takeover agreement.
11:27 EDTTGTTarget promotes Mulligan to COO, names Smith to CFO role
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10:55 EDTHIGOptions with increasing implied volatility
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08:48 EDTTGTTarget names John Mulligan as EVP, COO, Cathy Smith as EVP, CFO
Target Corporation (TGT) promoted John Mulligan to the newly created role of EVP and COO, effective Sept. 1. Mulligan will assume oversight of stores, supply chain and properties. Joining Target as EVP and CFO will be Cathy Smith. Both Mulligan and Smith will report to Target's chairman and chief executive officer, Brian Cornell. Mulligan has worked at the Minneapolis-based company since 1996, when he began as a financial analyst. He has served as the company's CFO since 2012. In 2014, he led the company as the retailer's interim president and CEO from May to August while continuing to act as CFO. Prior to joining Target, Smith served as EVP and CFO at St. Louis-based Express Scripts (ESRX).
08:47 EDTTGTTarget names John Mulligan as EVP, COO, Cathy Smith as EVP, CFO
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06:04 EDTHIGHartford Financial implied volatility of 38 at upper end of index
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August 14, 2015
16:57 EDTEQT, SCHWSoros gives quarterly update on stakes, increases Facebook position
NEW STAKES: Time Warner Cable (TWC), Schwab (SCHW), Alcoa (AA), NRG Energy (NRG), and Pacira (PCRX). INCREASED STAKES: Facebook (FB), Monsanto (MON), Nextera (NEE), Qunar (QUNR), and Rovi (ROVI). DECREASED STAKES: Alibaba (BABA), General Motors (GM), Motorola Solutions (MSI), EQT Corp (EQT), and Noble Energy (NBL). LIQUIDATED STAKES: Cenovus (CVE), Kite Pharma (KITE), Tempur Sealy (TPX), CF Industries (CF), and Suncor Energy (SU).
14:49 EDTBIDUAlphaOne Capital's Dan Niles says has been 'nibbling' on Baidu, Alibaba
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08:46 EDTSCHWCharles Schwab reports total client assets of $2.56T as of July, up 8% y/y
Net new assets brought to the company by new and existing clients totaled $9.8B in July. Average interest-earning assets on the company's balance sheet were a record $158.2B in July, up 15% from July 2014 and up 2% compared to June 2015.
08:10 EDTTGTTarget merchandising executive Jose Barra stepping down, WSJ reports
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05:47 EDTHIGStocks with implied volatility movement; HIG SYY
Stocks with implied volatility movement; Hartford Financial (HIG) 38, Sysco (SYY) 28 according to iVolatility.
August 13, 2015
14:07 EDTBIDUBaidu launches marketing platform for offline merchants, Marbridge says
Baidu's payment service Baidu Wallet has launched the Baidu Yuanquan "online-to-offline" marketing management platform for offline retailers, reports Marbridge Consulting. The platform, also known as Baidu Source, has the capability to analyze factors including a mobile user's location and purchasing behavior in order to offer targeted coupons that can be used in offline stores. Baidu also created the Baidu Wallet O2O Alliance, aiming to boost user acquisition and reduce operating costs for partner companies, according to the report. Reference Link
12:24 EDTHIGHartford Financial August weekly 49 straddle priced for 6% movement
11:45 EDTHIGOptions with increasing volume
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11:20 EDTHIGHartford Financial calls active on takeover speculation
Hartford Financial August 48 and 48.5 calls are active on total call volume of 12K contracts (4K puts) on takeover speculation. August weekly call option implied volatility is at 105, August is at 67, September is at 40; compared to its 52-week range of 13 to 43. Active call volume suggests traders taking positions for upside price movement.
11:03 EDTHIGHartford Financial spike attributed to takeover speculation
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10:45 EDTHIGRumor: Hartford Financial strength attributed to takeover speculation
09:40 EDTEQTEQT Corporation upgraded to Buy from Accumulate at Global Hunter
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