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Stock Market & Financial Investment News

News Breaks
June 12, 2014
10:07 EDTTHRX, SFUN, LULU, STO, VALE, LEAF, AAUKY, DLAKY, DTV, CEVA, AFLYY, RRMS, HIMX, CPSI, BRGYY, AXS, MONT, HA, CHSPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AXIS Capital (AXS) downgraded to Sell from Neutral at Goldman... Air France-KLM (AFLYY) downgraded to Underperform from Hold at Jefferies... Anglo American (AAUKY) downgraded to Underweight from Equal Weight at Morgan Stanley... Associated Estates (aec) downgraded to Sell from Neutral at Citigroup... BG Group (BRGYY) downgraded to Neutral from Buy at Nomura... CEVA (CEVA) downgraded to Sell from Neutral at Chardan... Chesapeake Lodging (CHSP) downgraded to Market Perform from Outperform at FBR Capital... Computer Programs (CPSI) downgraded to Underweight from Hold at KeyBanc... DirecTV (DTV) downgraded to Neutral from Outperform at Macquarie... Hawaiian Holdings (HA) downgraded to In-Line from Outperform at Imperial Capital... Himax (HIMX) downgraded to Hold from Buy at Craig-Hallum... Lufthansa (DLAKY) downgraded to Hold from Buy at Jefferies... Montage Technology (MONT) downgraded to Hold from Buy at Needham... Rose Rock Midstream (RRMS) downgraded to Neutral from Outperform at RW Baird... SouFun (SFUN) downgraded to Hold from Buy at Deutsche Bank... Springleaf (LEAF) downgraded at Sterne Agee... Statoil (STO) downgraded to Hold from Buy at Deutsche Bank... Theravance (THRX) downgraded at Stifel... Vale (VALE) downgraded at Morgan Stanley... lululemon (LULU) downgraded to Hold from Buy at Stifel.
News For AXS;AFLYY;AAUKY;BRGYY;CEVA;CHSP;CPSI;DTV;HA;HIMX;DLAKY;MONT;RRMS;SFUN;LEAF;STO;THRX;VALE;LULU From The Last 14 Days
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March 19, 2015
18:24 EDTTHRXTheravance down 11% following FDA panel vote on Breo
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18:14 EDTTHRXGlaxoSmithKline, Theravance announce FDA panel outcome on Breo Ellipta
GlaxoSmithKline (GSK) and Theravance (THRX) announced the outcome of the joint meeting of the Pulmonary-Allergy Drugs Advisory Committee and Drug Safety and Risk Management Advisory Committee of the United States FDA regarding the supplemental New Drug Application for Breo Ellipta as a once-daily inhaled treatment for asthma in patients aged 12 years and older. The FDA Advisory Committee voted that the efficacy and safety data for FF/VI 100/25 mcg and 200/25 mcg once daily in asthma support approval in adults 18 years of age and older (16 for, 4 against). The Committee voted that the efficacy data provides substantial evidence of a clinically meaningful benefit in adults (18 for, 2 against) and that the safety in this population has been adequately demonstrated (17 for, 3 against). The Committee voted against approval for the proposed indication in 12-17 year olds (2 for, 18 against). The Committee voted that the efficacy data was not sufficient to demonstrate the benefit (4 for, 16 against) and the safety (1 for, 19 against) has not been adequately demonstrated in this sub-population. The Committee recommended that a large LABA safety trial with FF/VI should be required in adults (13 yes, 7 no) and in 12-17 year olds (17 yes, 2 no and 1 no-vote), similar to the ongoing LABA safety trials being conducted as an FDA Post-Marketing Requirement by each of the manufacturers of LABA containing asthma treatments. FDA Advisory Committees provide non-binding recommendations for consideration by the FDA. Based on these opinions and the data presented, the FDA will make its final decision on approval, which is expected on April 30.
11:26 EDTVALEVale management to meet with Jefferies
Meetings to be held in Boston/New York on March 25-26 hosted by Jefferies.
10:02 EDTCPSIOn The Fly: Analyst Initiation Summary
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09:49 EDTDLAKYLufthansa expects to operate 75% of flights despite strike, AFP reports
Lufthansa aims to operate approximately 75% of flights on Friday despite a third consecutive day of pilot strikes, reports the AFP. A company spokesman said, "We're assuming for the moment that the number of flights that can take off and land tomorrow will be of the same magnitude as on Wednesday... We're counting on around three quarters of all flights in the entire Lufthansa group -- including Swiss, Austrian and Germanwings -- going ahead." Reference Link
07:26 EDTTHRXFDA to hold a joint advisory committee meeting
The Pulmonary-Allergy Drugs Advisory Committee and the Drug Safety & Risk Management Advisory Committee discuss the supplemental New Drug Application (sNDA) 204275-S001, for fluticasone furoate and vilanterol dry powder for inhalation (with the brand name of BREOŽ ELLIPTAŽ), sponsored by Glaxo Group Limited (d/b/a GSK) for the once-daily treatment for asthma in patients aged 12 years and older in a meeting being held in Gaithersburg, Maryland on March 19 at 8 am. Webcast Link
07:16 EDTLULUlululemon volatility elevated into Q4 and outlook
lululemon March weekly call option implied volatility is at 74, April is at 46, June is at 38, September is at 36; compared to its 26-week average of 36 according to Track Data, suggesting large near term price movement into the expected release of Q4 on March 26.
07:10 EDTTHRXTheravance announces trading in common stock halted as FDA meets on sNDA
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05:40 EDTSTOStatoil reports annual equity production of 1.93 Mboepd in FY14
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March 18, 2015
16:31 EDTCHSPChesapeake Lodging names D. Rick Adams as COO
Chesapeake Lodging Trust announced the promotion of D. Rick Adams to Executive Vice President and COO. Adams joined the Trust in 2009 as its Senior Vice President and Chief Investment Officer and was subsequently promoted to Executive Vice President and Chief Investment Officer.
16:26 EDTCPSIComputer Programs initiated with a Neutral at RW Baird
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07:30 EDTDTVAT&T-DirecTV getting less attention than Comcast-Time Warner Cable, Reuters says
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06:07 EDTDLAKYLufthansa pilots begin two-day strike, Reuters says
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March 17, 2015
14:51 EDTTHRXTheravance volatility elevated on wide price movement
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12:38 EDTHIMXOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday, with the Dow falling about 1%. The market opened in negative territory and proceeded to gain additional downside momentum in early trading. Data on housing starts was not good, even accounting for bad weather in many areas of the country, and the prospect of interest rate increases on the horizon may have some fearing that the housing market recovery is in danger of stalling. Adding to the weakness in stocks may have been the further slide in crude oil prices, which pushed benchmark U.S. crude oil below $43 per barrel earlier in the session. ECONOMIC EVENTS: In the U.S., housing starts plunged 17% to an 897K rate in February, widely undershooting expectations for starts to be down 2.4% to a 1.04M rate, but much of the slide was attributed to weather. Building permits rose 3% to a rate of 1.092M, which was better than the expected 0.5% growth to a 1.065M rate. In Europe, Germany's ZEW Center investor confidence index climbed to 54.8 from 53 last month, though that fell short of the 59.4 consensus forecast. In Asia, the Shanghai Composite index rose 1.6% to close at its highest level in over 6 years. COMPANY NEWS: Apple (AAPL) is preparing to launch an online TV service later this year, according to reports from The Wall Street Journal and the Financial Times. After the reports, Piper Jaffray analyst Gene Munster said he believes Apple's online TV service launch would lay the groundwork for an actual television launch sometime in 2016. Munster estimates that at an average selling price of $1,750, a television could add about 7% to Apple's 2017 revenue. MAJOR MOVERS: Among the notable gainers was Black Diamond (BDE), which jumped 30% after the company reported was then expected quarterly results and guidance but also announced it has hired two banks to help it explore its strategic alternatives. Also higher was Esperion (ESPR), which rose 15% after the company's phase 2b study of ETC-1002, a product in development for patients with hypercholesterolemia on stable statin therapy, met its primary endpoints. Among the noteworthy losers was Himax (HIMX), which dropped 9% after BofA Merrill Lynch downgraded the stock two notches to Underperform from Buy. Also lower following its earnings report was magicJack (CALL), which fell 19%. INDEXES: Near midday, the Dow was down 152.00, or 0.85%, to 17,825.42, the Nasdaq was down 8.39, or 0.17%, to 4,921.12, and the S&P 500 was down 11.39, or 0.55%, to 2,069.80.
11:34 EDTDLAKYLufthansa cancels 750 flights due to impending pilots strike, Reuters reports
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10:00 EDTAAUKYOn The Fly: Analyst Downgrade Summary
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09:32 EDTHIMXHimax downgraded to Underperform from Buy at BofA/Merrill
BofA/Merrill downgraded Himax two notches to Underperform from Buy based on limited visibility, product newsflow from both Google (GOOG) and Microsoft (MSFT), and weakness with Samsung's low-end LCD based smartphone and China share. BofA/Merrill lowered Himax's price target to $7.
08:39 EDTAAUKYAnglo American downgraded to Sector Performer from Outperformer at CIBC
07:37 EDTAXSPartnerRe didn't talk to bidders other than AXIS Capital, Insurance Insider says
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