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Stock Market & Financial Investment News

News Breaks
December 13, 2012
10:12 EDTYUM, TSO, MTB, FRME, AVGO, ENOC, BGS, RFMD, HBC, DRC, CRL, LLY, VRA, MCHP, GLF, BBEP, RDYOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Avago (AVGO) upgraded to Buy from Neutral at Goldman... BreitBurn Energy (BBEP) upgraded to Neutral from Underperform at Credit Suisse... Charles River Labs (CRL) upgraded to Outperform from Market Perform at Wells Fargo... Dresser-Rand (DRC) upgraded to Positive from Neutral at Susquehanna... First Merchants (FRME) upgraded to Outperform from Market Perform at Keefe Bruyette... GulfMark Offshore (GLF) upgraded to Outperform from Market Perform at Wells Fargo... HSBC (HBC) upgraded to Buy from Hold at Deutsche Bank... M&T Bank (MTB) upgraded to Outperform from Market Perform at Keefe Bruyette... Microchip (MCHP) upgraded to Neutral from Sell at Goldman... RF Micro Devices (RFMD) upgraded to Overweight from Equal Weight at Barclays... Tesoro (TSO) upgraded to Outperform from Neutral at Credit Suisse... Vera Bradley (VRA) upgraded to Buy from Hold at Jefferies... B&G Foods (BGS) upgraded to Outperform from Sector Perform at RBC Capital... Yum! Brands (YUM) upgraded to Buy from Neutral at Goldman... Charles River Labs (CRL) upgraded to Overweight from Neutral at JPMorgan... Eli Lilly (LLY) upgraded to Neutral from Underperform at Cowen... EnerNOC (ENOC) upgraded to Outperform from Market Perform at Raymond James... Dr. Reddy's Labs (RDY) upgraded to Outperform from Neutral at Credit Suisse.
News For AVGO;BBEP;DRC;FRME;GLF;HBC;MTB;MCHP;RFMD;TSO;VRA;BGS;YUM;LLY;ENOC;RDY;CRL From The Last 14 Days
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March 23, 2015
06:19 EDTAVGOAvago price target raised to $160 from $131 at Citigroup
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March 22, 2015
11:28 EDTENOCEnerNOC to host analyst day
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March 20, 2015
11:33 EDTLLYFly Review: Analysts correctly predict jump in Biogen shares
The shares of Biogen (BIIB) are rallying after the company reported results for a Phase 1b study of its Alzheimer's drug, BIIB-037. On March 18, as reported on that day by The Fly, RBC Capital predicted that the stock would rise after the results were published. A number of other firms were also upbeat on the stock ahead of the data release. WHAT'S NEW: Earlier this morning Biogen announced that the three milligram, six milligram, and ten milligram dose versions of its Alzheimer's treatment, aducanumab, had reduced the amount of amyloid plaque in the brains of Alzheimer's patients taking the drug by statistically significant amounts compared with those taking placebos. Beta amyloid is a protein that produces plaque in the brain. Scientists suspect that plaques in the brain are a cause of Alzheimer's. The cognitive decline of patients taking BIIB-037 was also significantly less than that of patients who were taking placebos, the company reported. PRE-EVENT CALLS: RBC Capital analyst Michael Yee predicted earlier this week in a note to investors that Biogen would report strong data for BIIB-037 and the stock should "work higher" after the data is unveiled. Alzheimer's patients taking the high dose of Biogen's BIIB-037 drug should exhibit a stabilization of cognition levels, Yee stated. Conversely, the cognition levels of patients taking the placebo should drop slightly, the analyst predicted. On March 13, in a note summarized by The Fly on that day, JPMorgan recommended buying Biogen shares ahead of the data release. Investors still incorporated a low probability of success for the drug, and the stock could rise further, the firm wrote. On March 19, in a note also published by The Fly, Credit Suisse wrote that Biogen's multiple could rise if the data on BIIB-037 was positive. It raised its price target on the name to $500 from $400. ANALYST REACTION: This morning, Barclays raised Biogen's price target to $500 from $435 following the company's report of "impressive" full results from the Alzheimer's study. Piper Jaffray analyst Joshua Schimmer also raised his price target for Biogen shares to $500 this morning, calling today’s BIIB-037 results "robust and impressive." Schimmer believes the trial showed a "consistent and dramatic" dose effect on both radiographic and clinical disease features and thinks the side effects "pale in comparison" to the drug’s efficacy. OTHERS TO WATCH: Eli Lilly (LLY) and Roche (RHHBY) are also currently developing similar Alzheimer's treatments. PRICE ACTION: In late morning trading, Biogen rose 7% to $464. The stock is up about 9% since Wednesday. Eli Lilly shares are up 1.6% to $75.40 this morning, while Roche rose 2.2% to $35. Reference Link
10:00 EDTTSOOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Actuant (ATU) downgraded at Stifel... American Capital Mortgage (MTGE) downgraded to Hold from Buy at Wunderlich... Campus Crest (CCG) downgraded at RBC Capital... Care.com (CRCM) downgraded to Neutral from Overweight at JPMorgan... Electrolux AB (ELUXY) downgraded to Neutral from Overweight at JPMorgan... Ericsson (ERIC) downgraded to Equal Weight from Overweight at Morgan Stanley... Extreme Networks (EXTR) downgraded at Raymond James... PrivateBancorp (PVTB) downgraded to Market Perform from Outperform at BMO Capital... TD Ameritrade (AMTD) downgraded to Neutral from Buy at Goldman... Tableau (DATA) downgraded at Mizuho... Tech Data (TECD) downgraded to Hold from Buy at Needham... Tesoro (TSO) downgraded at Wells Fargo... Ultra Clean (UCTT) downgraded to Hold from Buy at Needham... Vince Holding (VNCE) downgraded to Neutral from Overweight at Piper Jaffray... Youku Tudou (YOKU) downgraded to Sell from Hold at Deutsche Bank.
09:57 EDTLLYLeerink major pharma analyst holds an analyst/industry conference call
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09:01 EDTLLYEli Lilly up 2% to $75.75 in pre-market trading
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08:01 EDTLLYEli Lilly and Innovent Biologics announce strategic alliance
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07:41 EDTLLYAmerican Academy of Dermatology to hold annual meeting
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07:17 EDTTSOTesoro downgraded at Wells Fargo
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05:35 EDTTSOTesoro downgraded to Market Perform from Outperform at Wells Fargo
March 19, 2015
16:14 EDTENOCEnerNOC, GridPoint to offer integrated energy management solution
EnerNOC and GridPoint, an innovator in data-driven energy management systems (EMS), today announced that they have executed a partnership to offer the commercial market a more comprehensive energy management solution. With this joint solution, EnerNOC will be able to provide its customers with more cost-effective, granular submetering and monitoring capabilities, and further automate energy reduction plans. GridPoint customers will be able to leverage EnerNOC's energy intelligence software to buy energy at the best possible rate, manage utility bills, optimize consumption, streamline reporting, participate in additional demand response programs, and proactively manage peak demand.
11:08 EDTDRCDresser-Rand drops 2% after German magazine highlights integration issues
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11:07 EDTDRCDresser-Rand, Siemens integration not smooth, Manager Magazin says
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08:08 EDTLLYEli Lilly and Hanmi sign license and collaboration agreement
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March 18, 2015
12:48 EDTLLYFly Watch: Biogen predicted to report strong Alzheimer's data this Friday
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07:46 EDTLLYLilly Roche would have upbeat read through from strong BIIB data, says Bernstein
Bernstein notes that the data for Biogen's (BIIB) Alzheimer's treatment, due to be released on Friday, is widely expected to be positive. The firm thinks that positive data would boost the outlook for similar Alzheimer's drugs being developed by Eli Lilly (LLY) and Roche (RHHBY), since consensus estimates for those drugs are low. The firm keeps Outperform ratings on Eli Lilly and Roche.
March 16, 2015
11:03 EDTAVGOAvago ships over 1M VCSEL channels
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10:02 EDTAVGOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AmerisourceBergen (ABC) upgraded to Buy from Neutral at UBS... Avago (AVGO) upgraded to Buy from Neutral at DA Davidson... Francesca's (FRAN) upgraded to Buy at Janney Capital... Goldcorp (GG) upgraded to Overweight from Neutral at HSBC... Jabil Circuit (JBL) upgraded to Buy from Hold at Cross Research... JetBlue (JBLU) upgraded to Outperform at Raymond James... King Digital (KING) upgraded to Overweight from Neutral at JPMorgan... L.B. Foster (FSTR) upgraded to Outperform from Neutral at Macquarie... NextEra Energy (NEE) upgraded to Buy from Hold at Deutsche Bank... Petrobras Argentina (PZE) upgraded to Buy from Neutral at BofA/Merrill... Qorvo (QRVO) upgraded to Buy from Neutral at DA Davidson... Randgold (GOLD) upgraded to Overweight from Neutral at HSBC... Royal Gold (RGLD) upgraded to Overweight from Neutral at HSBC... Seagate (STX) upgraded at Needham... Standex (SXI) upgraded to Buy from Hold at BB&T... Union Pacific (UNP) upgraded to Outperform from Neutral at Macquarie... West Corp. (WSTC) upgraded to Outperform from Neutral at RW Baird... Xilinx (XLNX) upgraded to Buy from Hold at Drexel Hamilton... YPF (YPF) upgraded to Buy from Neutral at BofA/Merrill.
07:57 EDTAVGOAvago upgraded to Buy from Neutral at DA Davidson
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07:27 EDTLLYBiodel BIOD-961 Phase 1 clinical trial meets primary efficacy endpoint
Biodel (BIOD) announced positive preliminary results from Study 6-101, a Phase 1 clinical trial comparing Biodel's lyophilized glucagon formulation BIOD-961, designed for use in a proprietary Glucagon Emergency Management, or GEM, auto-reconstitution device, to Eli Lilly's (LLY) Glucagon Emergency Rescue Kit and Novo Nordisk's GlucaGen HypoKit, which are marketed for the treatment of severe hypoglycemia. Study 6-101 was a randomized, single-center, double blind, six-period cross over study in 15 healthy volunteers who received each glucagon administered subcutaneously, or SC, and intramuscularly, or IM, in a randomized treatment sequence. The objectives of the study were to compare the pharmacokinetic, or PK, profiles, the pharmacodynamic, or PD, glucose, responses, and the PK/PD relationships of IM and SC dosing, as well as to assess safety profiles of the three test glucagons. Study 6-101 was a Phase 1 randomized, single-center, double blind, six-period cross over study designed to evaluate the PK and PD profiles of BIOD-961 compared to marketed glucagon formulations manufactured by Eli Lilly and Novo Nordisk. BIOD-961 is a lyophilized glucagon formulation designed for use in the GEM auto-reconstitution device. On six separate dosing days, each subject received 1 mg of one of the test glucagons delivered either SC or IM. Fifteen normal, healthy subjects were randomized into the study and ten completed all dosings. The objectives of the study were to compare the PK profiles, the PD responses, and the PK/PD relationships of IM and SC dosing, as well as to assess safety profiles of the three test glucagons. These data will facilitate selection of an appropriate marketed glucagon to use as a comparator in the planned pivotal study, in which the primary efficacy endpoint for approval is to demonstrate PK and PD bioequivalence of BIOD-961 to one of the marketed comparators.
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