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January 29, 2013
10:02 EDTHXL, CRM, VNR, N, ULTI, PRGX, BCEI, ELLI, DGX, LH, CLH, NCLH, AXSOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AXIS Capital (AXS) initiated with a Market Perform at Raymond James... Clean Harbors (CLH) initiated with a Buy at BB&T... LabCorp (LH) initiated with a Perform at Oppenheimer... Norwegian Cruise Line (NCLH) initiated with a Buy at Stifel Nicolaus... PRGX Global (PRGX) initiated with an Outperform at RW Baird... Quest Diagnostics (DGX) initiated with an Underperform at Oppenheimer... Vanguard Natural (VNR) initiated with an Outperform at Raymond James... Ultimate Software (ULTI) initiated with a Buy at Maxim... (CRM) initiated with a Buy at Maxim... Ellie Mae (ELLI) initiated with a Buy at Maxim... NetSuite (N) initiated with a Hold at Maxim... Hexcel (HXL) initiated with a Buy at Topeka... Bonanza Creek (BCEI) initiated with an In-Line at Imperial Capital.
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April 23, 2015
10:53 spikes higher, levels to watch
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10:50 calls active on renewed takeover chatter April weekly 68 and 69 calls are active on total call volume of 7K contracts (1K puts) on renewed takeover speculation. April weekly option implied volatility is at 34, May is at 23, June is at 33, July is at 29; compared to its 26-week average of 33 according to Track Data. Active call volume suggests traders taking positions for large price movement.
10:45 EDTCRMRumor: active on renewed takeover speculation
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09:10 EDTNNetSuite to acquire Bronto Software for $200M
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07:34 EDTNNetSuite volatility elevated into Q1 and outlook
NetSuite May call option implied volatility is at 45, June is at 34, July is at 30; compared to its 26-week average of 34 according to Track Data, suggesting large near term price movement into the expected release of Q1 results today.
07:08 EDTDGXQuest Diagnostics backs FY15 adjusted EPS view $4.70-$4.85, consensus $4.78
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07:06 EDTDGXQuest Diagnostics reports Q1 adjusted EPS $1.05, consensus $1.04
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April 22, 2015
15:50 EDTDGXNotable companies reporting before tomorrow's open
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11:08 EDTCRMOptions with increasing implied volatility
Options with increasing implied volatility: CZR FMSA PSEC CSX AEO CRM BBY SPLS HPQ DTV
07:19 EDTNNetSuite price target lowered to $108 ahead of Q1 report at Stephens
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05:49 EDTAXSPartnerRe downgraded to Neutral from Buy at UBS
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April 21, 2015
09:32 EDTNNetSuite view changed to Mixed from Positive at OTR Global
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08:14 EDTLH, DGXQuest Diagnostics and Inserm launch BRCA Share initiative
Quest Diagnostics (DGX) and Inserm, the French National Institute of Health and Medical Research institution, launched BRCA Share, a novel datashare initiative they co-founded to provide scientists and laboratory organizations around the world with open access to BRCA1 and BRCA2 genetic data. The program's goal is to accelerate research on BRCA gene mutations, particularly variants of uncertain significance, to improve the ability of clinical laboratory diagnostics to predict which individuals are at risk of developing hereditary breast and ovarian cancers. Laboratory Corporation of America Holdings (LH) is the first participant in the initiative, which is structured as a user group. B
06:40 EDTDGX, LHStart-up to offer saliva test for breast cancer susceptibility, NY Times says
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06:39 EDTVNRVanguard Natural to host conference call
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05:07 EDTVNRVanguard Natural to acquire LRR Energy for $539M
Vanguard Natural (VNR) and LRR Energy (LRE) announced that they have entered into a Purchase Agreement and Plan of Merger pursuant to which a subsidiary of Vanguard will merge into LRR Energy and, at the same time, Vanguard will acquire LRE GP, the general partner of LRR Energy, for total consideration of $251M in Vanguard common units and the assumption of LRE’s net debt of $288M. As a result of the transaction, LRR Energy and its general partner will become wholly owned subsidiaries of Vanguard. The transaction, which has been approved by the boards of both companies, including the Conflicts Committee of the board of LRR Energy, will be a tax-free unit-for-unit transaction with an exchange ratio of 0.55 Vanguard common units per LRE common unit. In addition, Vanguard will acquire all of the limited liability company interests in LRE GP in exchange for 12,320 Vanguard common units. The consideration to be received by LRE unitholders is valued at $8.93 per LRR Energy common unit based on Vanguard’s closing price as of April 20, representing a 13% premium to LRR Energy’s closing price on April 20, and a 19% premium to LRR Energy’s ten day volume weighted average price. Vanguard and LRR Energy expect the transaction to close in Q3. The merger is subject to customary closing conditions, including the approval of the LRR Energy unitholders. Affiliates of Lime Rock Resources, LRE’s largest unitholder, have agreed to support and vote in favor of the transaction. Upon the closing of the transaction, LRR Energy will be terminating the existing management services agreement with Lime Rock Management and Lime Rock Resources Operating Company. Offset by incremental corporate hires, Vanguard expects to generate significant general and administrative expense savings. Vanguard expects that the transaction will be immediately accretive to distributable cash flow per unit while also lowering Vanguard’s pro forma debt leverage.
April 20, 2015
16:58 EDTPRGXBecker Drapkin Management reports 6% stake in PRGX Global
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16:10 EDTHXLHexcel raises FY15 adjusted EPS outlook to $2.33-$2.43 from $2.26-$2.38
Consensus $2.38. The company said, "While the strengthening dollar reduces our reported sales, it provides a modest tailwind for our 2015 earnings. Our strong operational performance combined with expected 2015 constant currency sales and an estimated four-cent benefit from the strengthening dollar for the year, leads us to increase our 2015 adjusted diluted EPS guidance to $2.33-$2.43 (previously it was $2.26-$2.38). The company’s 2015 focus continues to be on manufacturing throughput, capacity expansion and superior execution to prepare for the substantial production ramp up in 2016 and 2017." Sees FY15 sales $1.86B-$1.94B vs. previous $1.9B-$2.0B, consensus $1.97B. "The decrease is due to the impact of the strengthening dollar on our Euro and British pound denominated sales, as our constant currency view of 2015 sales is unchanged," the company said.
16:08 EDTHXLHexcel reports Q1 adjusted EPS 58c, consensus 56c
Reports Q1 revenue $471.8M, consensus $486.36M.
15:37 EDTHXLNotable companies reporting after market close
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