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June 4, 2014
10:00 EDTHERO, GTT, ATW, AIRM, VC, PKD, DNOW, HP, GNC, BAS, AVG, SLB, PBFX, MNST, HAL, EXAS, ALQA, ROSG, ORCLOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AVG Technologies (AVG) initiated with an In-Line at Imperial Capital... Air Methods (AIRM) initiated with a Buy at KeyBanc... Alliqua (ALQA) initiated with a Buy at Ascendiant... Atwood Oceanics (ATW) initiated with a Neutral at Macquarie... Basic Energy (BAS) initiated with a Neutral at Macquarie... Exact Sciences (EXAS) initiated with a Buy at Goldman... GNC Holdings (GNC) initiated with a Buy at BofA/Merrill... GTT Communications (GTT) initiated with an Outperform at Pacific Crest... Halliburton (HAL) initiated with an Outperform at Macquarie... Helmerich & Payne (HP) initiated with a Neutral at Macquarie... Hercules Offshore (HERO) initiated with an Outperform at Macquarie... Monster Beverage (MNST) initiated with an Outperform at Credit Suisse... NOW Inc. (DNOW) initiated with a Positive at Susquehanna... Oracle (ORCL) initiated with a Buy at Maxim... PBF Logistics (PBFX) initiated with a Market Perform at Wells Fargo... Parker Drilling (PKD) initiated with an Outperform at Macquarie... Rosetta Genomics (ROSG) initiated with an Outperform at Barrington... Schlumberger (SLB) initiated with an Outperform at Macquarie... Visteon (VC) initiated with a Buy at Gabelli.
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September 30, 2015
09:18 EDTROSGRosetta Genomics announces partnership with FNApath
Rosetta Genomics announces that the company has reached an agreement-in-principle with FNApath of Little Rock, Arkansas, under which Rosetta Genomics will provide endocrinologists initially testing their patients for thyroid cancer with the option of using a pathologist or laboratory of their own choosing, or FNApath, a centralized laboratory with an expertise in diagnosing thyroid cancer. In the event of an indeterminate result, the sample would then be tested with RosettaGx Thyroid Reveal, the company's thyroid neoplasia assay for the differential diagnosis of indeterminate fine needle aspirates, or FNAs.
07:59 EDTSLBSchlumberger estimates lowered by about 20% for 2016, 2017 at UBS
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07:07 EDTPKDDeutsche Bank to hold a conference
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06:58 EDTORCLOracle to furlough workers during holiday week, BI reports
Oracle has decided to close down during the holiday week between Christmas and New Year's, mandating that its employees pay for this furlough with paid vacation time, Business Insider reports, citing several sources. Some Oracle employees have been angered about this move that basically removes four days of paid time off from them, the report says. Reference Link
05:36 EDTBASBasic Energy downgraded to In-Line from Outperform at Imperial Capital
Imperial Capital analyst Scott Levine downgraded Basic Energy to In-Line saying the downturn in U.S. onshore exploration and production activity poses risk to earnings and balance sheet leverage. Levine cut his price target for shares to $4.75 from $10.
September 29, 2015
08:39 EDTORCLOracle Health Sciences adds 93 biopharma customers
Oracle (ORCL) Health Sciences announced that 93 emerging biopharma organizations worldwide have become new customers in the past year, adopting Oracle Health Sciences solutions to succeed in this rapidly evolving market and deliver drugs to patients faster. Organizations, including Accera and NewLink (NLNK), selected Oracle Health Sciences solutions to manage their end-to-end clinical trial processes, boost clinical development productivity, facilitate compliance, and build scalable, affordable platforms for growth.
September 28, 2015
11:31 EDTHPDeutsche Bank sees bottom nearing for offshore drillers, upgrades two in space
Detusche Bank upgraded Diamond Offshore (DO) and Transocean (RIG) to Hold from Sell, saying that the companies should be boosted by upcoming reductions in the number of drilling rigs deployed by energy companies. WHAT'S NEW: As many as 180 drilling vessels may cease activity over the next 12-18 months, wrote Deutsche Bank analyst Mike Urban today. The energy sector seems to have become "more realistic" about the need to reduce supply and the offshore drilling industry is "on the cusp of a major restructuring" that should mark the bottom for valuations and pricing, he explained. Addressing the long-term outlook of deepwater drilling, Urban contended that the consensus outlook, which predicts that deepwater drilling will disappear, is incorrect. In ten years, there will be demand for 320 floating rigs, versus the 225 that are active today, Urban predicted. Over the long-term ,energy companies will have to "go where the oil is," and the oil is located in deep water, the analyst explained. He raised his price target on Diamond to $21 from $17 and on Transocean to $10 from $6. WHAT'S NOTABLE: A former executive at Petrobras (PBR) testified to receiving payments made by someone claiming to be an agent of Transocean in exchange for a rig-operation contract, linking the offshore rig contractor for the first time to the corruption probe of Brazil's state-run oil company, reported Bloomberg on September 24. The news outlet cited testimony from last month as its source for the story. Subsequently, Transocean said that it had not identified any wrongdoing by its employees vis-a-vis Petrobras and is "committed to doing business lawfully and with the highest ethical standards." PRICE ACTION: In morning trading, Diamond fell 4% to $17.62 and Transocean lost 1.75% to $12.36. OTHERS TO WATCH: Other oil and gas well drillers include Helmerich & Payne (HP), Ensco (ESV), Nabors Industries (NBR) and Seadrill (SDRL), all of which are in negative territory this morning.
10:37 EDTHALAnalysts sees upside for Halliburton as Baker Hughes deal moves forward
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08:17 EDTBASBasic Energy signs five-year renewal with MiX Telematics
MiX Telematics (MIXT) announced that Basic Energy Services (BAS) has renewed its contract for fleet management and driver behavior solutions for the next five years. Basic Energy Services uses solutions from MiX Telematics to help improve driver safety and monitor performance of more than 4,000 vehicles. One of the key factors in the renewal decision was MiX's Service for Life commitment. MiX offers a comprehensive range of services, which go beyond sales, implementation and troubleshooting. It starts when a customer signs the contract and continues, holistically, until the day the contract ends.
08:10 EDTBASBasic Energy signs five-year renewal with MiX Telematics
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07:25 EDTPKDJohnson Rice to hold a conference
2015 Johnson Rice Energy Conference is being held in New Orleans, Louisiana on September 28-30.
06:48 EDTHALHalliburton and Baker Hughes announce additional divestiture proposals
Halliburton (HAL) and Baker Hughes (BHI) announced that the companies will market for sale additional businesses in connection with Halliburton's pending acquisition of Baker Hughes. Pursuant to the Merger Agreement, and in order to permit completion of Halliburton's acquisition of Baker Hughes, the following additional businesses are intended to be divested: Halliburton's expandable liner hangers business, which is part of the company's Completion & Production Division; Baker Hughes' core completions business, which includes: packers, flow control tools, subsurface safety systems, intelligent well systems, permanent monitoring, sand control tools and sand control screens; the Baker Hughes sand control business in the Gulf of Mexico, including two pressure pumping vessels; and Baker Hughes' offshore cementing businesses in Australia, Brazil, the Gulf of Mexico, Norway, and the United Kingdom. The combined 2013 revenue associated with all of the businesses intended to be divested was approximately $5.2B. The sale of these businesses will be subject to the negotiation of acceptable terms and conditions for the divestitures, the approval of the divesting company's board, and final approval of the Baker Hughes acquisition by competition enforcement authorities. Halliburton anticipates that the companies will complete the sales of these businesses in the same timeframe as, and the closing of the divestitures would be conditioned on, the closing of the pending Baker Hughes acquisition.
September 24, 2015
17:11 EDTALQAAlliqua's Biovance shows 'positive' results in venous ulcers study
Alliqua's Biovance Human Amniotic Membrane Allograft will be featured in a poster at the Fall 2015 Symposium on Advanced Wound Care. The poster summarizes the results of an observational study demonstrating the clinical benefit of using DDHAM - Biovance - in addition to compression therapy for the treatment of patients with venous stasis ulcers. The results came from a registry study designed to explore the risk/benefit of using a decellularized, dehydrated, human amniotic membrane allograft as part of the treatment regimen of any skin ulcer that investigators thought would benefit. This observational study demonstrated that 53% of the subjects in the GWC Group completely closed in an average observation period of about 6 weeks. The impact of good wound care resulted in a 26% increase in the incidence of closure for the GWC Group, compared to the ITT population. At an average of 8 weeks, the GWC Group's venous stasis ulcers reduced in size by nearly 68%.
12:07 EDTSLBSchlumberger: No plans to extend agreement to acquire Eurasia, Reuters says
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10:01 EDTMNSTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: 8point3 Energy (CAFD) upgraded to Market Perform from Underperform at Avondale... AEGON (AEG) upgraded to Buy from Neutral at Goldman... AMC Networks (AMCX) upgraded to Buy from Hold at Evercore ISI... Citi ups Ralph Lauren (RL) to Buy on valuation, cost savings... Kate Spade (KATE) upgraded to Overweight from Equal Weight at Stephens... L'Oreal (LRLCY) upgraded to Buy from Hold at Societe Generale... Marriott (MAR) upgraded on historical performance, growth outlook at SunTrust... Monster Beverage (MNST) upgraded to Buy from Neutral at Goldman... Nimble Storage (NMBL) upgraded to Buy from Neutral at Longbow... Qualys (QLYS) upgraded to Neutral from Underperform at Macquarie... Ralph Lauren (RL) upgraded to Buy from Neutral at Citi... Trex Company (TREX) upgraded to Outperform from Neutral at Wedbush... Valero Energy Partners (VLP) upgraded on better than expected transaction at SunTrust.
06:52 EDTHAL, BAS, SLBFracking companies see bankruptcies, closures, WSJ reports
A series of bankruptcies and closures has swept across the oil industry, with dozens of mostly small, privately owned fracking companies at risk, the Wall Street Journal reports. Most companies that help oil and gas explorers drill and frack wells are small, privately owned and fairly young, the report says. The fall in oil prices has played a large role in the failures of many of these companies, the report says. Companies in the space include Key Energy Services (KEG), Basic Energy Services (BAS), Schlumberger (SLB), and Halliburton (HAL). Reference Link
06:51 EDTMNSTMonster Beverage upgraded to Buy from Neutral at Goldman
Goldman upgraded Monster Beverage (MNST) to Buy and increased its price target to $165 from $160. Analyst Judy Hong said Monster shares have underperformed the market since August, primarily due to issues with the distributor transition and uncertainty on the timing of cash returns. Hong views valuation as attractive ahead of Monster's entry into the China energy market in early 2016, which she believes could add 11c-27c to 2017 earnings. Further, the analyst is modeling a $5B tender announcement in early 2016, twice the amount the market is forecasting, following the close of the Coca-Cola (KO) deal. This is the key driver for Hong's above consensus 2016 earnings estimate of $4.20 versus $3.96.
September 23, 2015
10:20 EDTORCLOptions with decreasing implied volatility
Options with decreasing implied volatility: CVC HRTX NWBO ATML RHT KMX OVTI ADBE ORCL DRI
10:00 EDTPKDOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Baidu (BIDU) upgraded to Buy from Underperform at CLSA... BioMed Realty (BMR) upgraded to Buy from Hold at Canaccord... Carnival (CCL) upgraded to Buy from Neutral at Nomura... (CTRP) upgraded to Buy from Outperform at CLSA... Daktronics (DAKT) upgraded to Buy from Hold at Needham... FMC Corporation (FMC) upgraded to Buy from Hold at Jefferies... Finish Line (FINL) upgraded to Outperform from Market Perform at FBR Capital... Intel (INTC) upgraded on potential PC, client business rebound at Bernstein... MTN Group (MTNOY) upgraded to Neutral from Sell at Goldman... Mitcham Industries (MIND) upgraded to Buy from Neutral at Sidoti... Parker Drilling (PKD) upgraded to Buy from Neutral at Sidoti... Raytheon (RTN) upgraded on international outlook at Bernstein... Regional Management (RM) upgraded to Buy from Hold at Jefferies... Vivendi (VIVHY) upgraded to Hold from Underperform at Jefferies... Wolverine World Wide (WWW) upgraded to Neutral from Sell at Citi.
09:30 EDTPKDParker Drilling upgraded to Buy from Neutral at Sidoti
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