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Stock Market & Financial Investment News

News For BBY;SAM;CLWR;S;CVS;RIGL;ENDP;YELP;AAPL From The Last 14 Days
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March 6, 2015
16:32 EDTAAPL, ENDPStocks finish week lower as U.S. job market heats up, China cuts growth target
Stocks finished the week lower after the U.S. reported that the economy had created more jobs than expected last month, leading to speculation that the Fed will raise interest rates sooner than later. Also, China's government estimated that its economic growth would slow this year. MACRO NEWS: U.S. nonfarm payrolls rose 295,000 in February, easily topping expectations for the addition of 235,000 jobs. The news led to speculation that the Fed would raise interest rates sooner rather than later and helped trigger a sharp decline in stocks in the last trading day of the week... U.S. economic data other than the jobs report was mixed, as personal income for January and weekly jobless claims were worse than expected, but a services sector index for February and a manufacturing index for February surpassed expectations... China said it expects its economy to grow "about 7%" this year, versus last year's 7.4% growth. The 7% target is the country's lowest in more than a decade. COMPANY NEWS: Apple (AAPL) will replace AT&T (T) in the Dow Jones Industrial Average after the close of trading on Wednesday, March 18, S&P Dow Jones Indices announced... On the M&A front, AbbVie (ABBV) agreed to buy hematologic cancer drug maker Pharmacyclics (PCYC) for $261.25 per share, or $21B. A number of analysts wrote that AbbVie paid too high of a price, since AbbVie shares profits on its flagship drug, Imbruvica, equally with Johnson & Johnson (JNJ). Media reports hours prior to the deal was announced said J&J was close to buying its partner... NXP Semiconductors (NXPI) and Freescale (FSL) advanced after the two companies agreed to merge in a deal which values the combined enterprise at just over $40B. After the deal closes, Freescale shareholders will own approximately 32% of the combined company... Cardinal Health (CAH) announced plans to acquire Johnson & Johnson's cardiology and endovascular device business for $1.94B in cash and Boston Scientific (BSX) struck a deal to buy the American Medical Systems' urology portfolio from Endo International (ENDP) for up to $1.65B... During an investor meeting, Target (TGT) announced that it would reduce its expenses by $2B over the next two years, provided in-line fiscal 2015 EPS guidance, and estimated that its EPS would grow at an annual rate of 10% during 2016 and beyond... All 31 banks examined by the Federal Reserve passed their annual Dodd-Frank stress test, which measures how the banks would fare in a "severely adverse" macroeconomic scenario... Orexigen (OREX) rallied after the company disclosed that its weight loss drug, Contrave, demonstrated a statistically significant benefit over placebo for cardiovascular events... The FDA approved the use of Bristol-Myers' (BMY) Opdivo drug as a treatment for a specific type of lung cancer... Chinese solar stocks jumped after Canadian Solar (CSIQ) announced that it was pursuing plans to launch a yieldco. A yieldco is a publicly traded company that owns energy assets and pays dividends that are taxed at low rates. INDEXES: For the week, the Dow fell 1.53% to 17,856.78, the Nasdaq dropped 0.73% to 4,927.37, and the S&P 500 declined 1.57% to 2,071.26.
16:21 EDTAAPLOn The Fly: Closing Wrap
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16:02 EDTAAPLOptions Update; March 6, 2015
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14:32 EDTAAPLApple Watch to have 2.5-4 hours of battery life during intense use, 9to5mac says
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12:35 EDTAAPLOn The Fly: Midday Wrap
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10:33 EDTAAPLApple seeking exclusive music launches for streaming service, Re/code says
Apple is reportedly negotiating with music labels to get exclusive music launches on its forthcoming streaming music service, reports Re/code, citing sources who have spoken with company executives. Apple aims to have artists launch new music on its service before launching elsewhere. Company executives have also stated they see the need for a paywall in the music industry, distancing themselves from rivals such as Spotify that offer ad-supported but free-to-use services. Reference Link
09:35 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL YY TWTR C FB TSLA MNKD BIDU
09:15 EDTAAPLFossil fundamentals strong despite Apple Watch launch, says Jefferies
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09:12 EDTAAPLApple trades up on addition to Dow Jones Industrial Average
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09:11 EDTAAPLOn The Fly: Pre-market Movers
UP AFTER EARNINGS: YY Inc. (YY), up 8.6%... Skullcandy (SKUL), up 7.1%... Foot Locker (FL), up 5.5%... Finisar (FNSR), up 5.5%... AVEO Pharmaceuticals (AVEO), up 17.6% after reporting fourth quarter results and results from BATON-CRC study. ALSO HIGHER: Calithera Biosciences (CALA), up 37.1% after gaining license to TransTech hexokinase inhibitors... Ascent Solar (ASTI), up 9% after announcing partnership with Micro Center... Bank of America (BAC), up 2.4% following results of 2015 Dodd-Frank Stress Test. NOTABLE: Apple (AAPL), up 1.3% after taking AT&T's (T) spot in Dow Jones Industrial Average. AT&T is down 1.4%. DOWN AFTER EARNINGS: Violin Memory (VMEM), down 8.8%... Staples (SPLS), down 2.2%. ALSO LOWER: Sunshine Heart (SSH), down 30.8% after halting study enrollment after four patient deaths... AEterna Zentaris (AEZS), down 32.1% after raising $37M in a common stock and warrant offering... Conatus Pharmaceuticals (CNAT), down 14.4% following resignation of Chief Medical Officer... Darling Ingredients (DAR), down 2.4% after being downgraded to Neutral from Conviction Buy at Goldman... Lululemon (LULU), down 3.5% after being downgraded to Sell from Neutral at Goldman.
09:07 EDTAAPLApple to take AT&T's spot in Dow Jones Industrial Average
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09:06 EDTAAPLApple volatility up into replacing AT&T in Dow Jones Industrial Average
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09:02 EDTAAPLApple to replace AT&T in Dow Jones Industrial Average
08:05 EDTAAPLApple Watch unlikely to meet expectations, says Pacific Crest
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07:16 EDTAAPLApple may charge $7.99 per month for music streaming service, 9to5Mac says
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07:13 EDTAAPLApple monitor shows iPhone demand better than expected, say UBS
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07:11 EDTAAPLApple March volatility elevated into Spring Forward event
Apple March weekly call option implied volatility is at 31, March is at 27, April is at 26; compared to its 26-week average of 26 according to Track Data, suggesting large near term price movement into Spring Forward event on March 9.
06:18 EDTAAPLApple Pay hit by credit card fraud, WSJ says
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06:14 EDTBBYStocks with implied volatility below IV index mean; CIEN BBY
Stocks with implied volatility below IV index mean; Ciena (CIEN) 32, Best Buy (BBY) 27 according to iVolatility.
06:00 EDTAAPLStrategy Analytics: Apple to be number one smartwatch vendor, DigiTimes says
Strategy Analytics said Apple Watch will ship 15M units in 2015, reports DigiTimes. The firm said Apple will quickly become the world's number one smartwatch vendor and capture 55% global market share in 2015. Reference Link
March 5, 2015
16:00 EDTAAPLOptions Update; March 5, 2015
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14:56 EDTAAPLApple music streaming service may debut June 8, TechCrunch says
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13:00 EDTAAPLSamsung's new Galaxy to provide double the memory of Apple's iPhones, BI reports
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12:41 EDTAAPLApple slips after Deutsche sees watch having limited impact on results
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11:46 EDTAAPLAscent Solar rallies after release of Battery & Solar case for iPhone 6
Earlier today, Ascent Solar Technologies (ASTI) announced the immediate availability of the company’s Battery & Solar case for the iPhone 6 (AAPL), the EnerPlex Surfr. The company added, "The Surfr is available now at goenerplex.com as well as select retail partners. The Surfr Battery and Solar case for the iPhone 6 is the first Apple MFi certified case to integrate both battery storage as well as solar charging capability into a sleek, thin and compact design. Enabling more than 10 hours of extra talk time as well as doubled video and audio capacity, the Surfr keeps iPhone users powered up throughout their day without needing to be constantly on watch for an outlet." Shares of Ascent Solar are up almost 11% in late morning trading.
09:36 EDTAAPLActive equity options trading on open
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08:29 EDTAAPLApple files patent for moisture resistance technolgy for mobile devices
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07:56 EDTENDPEndo coverage resumed with an Overweight at Morgan Stanley
Target $101.
06:53 EDTAAPLApple may release iPhone 6s with more RAM, unlocked SIM card, AppleInsider says
Apple's (AAPL) upcoming iPhone 6s will reportedly include 2 gigabytes of RAM memory, reports AppleInsider, citing a person familiar with the company's plans. The source also stated Apple is considering shipping the 6s with an Apple SIM card to allow users to switch carriers at any time, a move likely to promp pushback from large carriers such as T-Mobile (TMUS), Verizon (VZ), and AT&T (T). Reference Link
06:45 EDTAAPLDeutsche sees Watch as limited growth driver for Apple
Deutsche Bank says that while it remains positive on the Apple Watch, it sees the device as a limited growth driver for Apple over the next few years. Deutsche currently expects Apple will ship 17.6M Watches in 2015 with an average selling price of $350. While adding some upside, the watch has "limited ability to move the needle," the firm told investors today. It feels Apple shares are fairly valued at current levels and keeps a Hold rating on the name with a $110 price target. The stock closed yesterday down 82c to $128.54.
06:32 EDTAAPLBMW says not in talks with Apple about building car, Reuters reports
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06:08 EDTAAPLDevelopers: Apple limiting Apple Watch features to help battery life, BI reports
Developers say Apple is limiting what apps for the Apple Watch is capable of in order to ensure a smooth launch and decent battery life, Business Insider reports. Reference Link
06:08 EDTBBY, AAPLWal-Mart CFO believes mobile payment is the future, WSJ says
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05:45 EDTAAPLApple to use Oxide display for 12.9-inch iPad, DigiTimes report9
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March 4, 2015
17:41 EDTAAPLAlphaOne's Dan Niles likes Apple as long idea
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17:35 EDTAAPLApple delays larger iPad on panel challenges, Bloomberg says
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17:26 EDTAAPLApple said to delay making larger iPad due to panel challenges, Bloomberg says
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16:02 EDTAAPLOptions Update; March 4, 2015
iPath S&P 500 VIX Short-Term Futures down 6c to 27.22. Option volume leaders: AAPL TSLA TWTR AA PBR NFLX MNKD FB BMY C according to Track Data.
15:17 EDTAAPLHBO in talks to have Apple TV on board for HBO Now launch, IBT says
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15:14 EDTAAPLTime Warner in talks for Apple to be HBO Now launch partner, CNBC says
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13:48 EDTAAPLJudge issues prelim approval for $415M anti-poaching settlement, Reuters says
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13:40 EDTRIGLRigel jumps 23% to $3.47 after FDA approves Opdivo for lung cancer
13:40 EDTRIGLFDA expands use of Opdivo to treat lung cancer
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10:06 EDTAAPLApple Watch sales script revealed, 9to5Mac says
The Apple Watch sales script distributed to retail stores states, "Many customers have already decided they want an Apple Watch," reports 9to5Mac. Suggested sales tactics include asking whether the consumer is purchasing the watch "for a special occasion," revealing Apple may believe the Watch has appeal as an expensive gift, a perspective previously absent from iPhone sales pitches. The script also coaches employees to ask consumers whether their current iPhone is compatible with the Watch, and if not, attempt to sell a compatible iPhone 5 or 6 model. Reference Link
10:01 EDTBBYOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AutoZone (AZO) upgraded to Neutral from Underperform at Sterne Agee... Best Buy (BBY) upgraded to Neutral from Underperform at Wedbush... CVR Refining (CVRR) upgraded to Buy from Neutral at Citigroup... Essent Group (ESNT) upgraded to Outperform from Market Perform at Keefe Bruyette... JD Wetherspoon (JDWPY) upgraded to Overweight from Neutral at HSBC... McDonald's (MCD) upgraded to Outperform from Sector Perform at RBC Capital... T-Mobile (TMUS) upgraded to Buy from Neutral at BTIG... US Ecology (ECOL) upgraded to Buy from Hold at Stifel.
09:36 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AA AMZN CELG MCD SINA TSLA V TWTR PBR
09:22 EDTAAPLU.S. Court of Appeals for the Federal Circuit hears Apple vs Samsung
The Court hears arguments over damages where Apple asks that Samsung remove certain features (slide unlock, auto-correct) from its phones for patent infringement but Samsung argues doing so is too onerous andn how much in damages Samsung owes Apple for failure to remove the specified features in a hearing being held at the U.S. Court of Appeals in Washington, D.C. on March 4 at 10 am.
09:14 EDTAAPLApple plans to reveal Retina MacBook Air March 9, The Michael Report says
Apple plans to reveal its Retina MacBook Air at its March 9 "Spring Forward" event, says The Michael Report, citing Apple sources familiar with the matter. Reference Link
09:07 EDTENDPFDA making testosterone product makers change labeling
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07:45 EDTBBYBest Buy upgraded to Neutral from Underperform at Wedbush
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07:22 EDTAAPLBanks, not Apple, on hook for 'post-Apple Pay fraud,' says Trustev
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07:21 EDTAAPLApple volatility elevated into Spring Forward event
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07:08 EDTBBYBest Buy price target raised to $50 from $45 at BB&T
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06:53 EDTBBYBest Buy upgraded to Neutral from Underperform at Wedbush
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06:50 EDTAAPLPiper sees two catalysts for Google shares in 2015
Piper Jaffray analyst Gene Munster says near-term investor concerns with regards to Google (GOOG) shares are overblown. Munster thinks investors are concerned that Google will lose its search deal with Apple’s (AAPL) Safari and that the search giant’s investments have pressured margins. He believes, however, that if Google were to lose Safari, the company will likely gain back that lost share within a year. Further, Munster believes Google's investments in robotics, self-driving cars, fiber, wireless and augmented reality will yield longer term revenue growth. The analyst views the resolution of the Safari deal and the possibility for cost-per-clicks turning positive for the first time since September 2011 as catalysts for the stock in 2015. Munster reiterates an Overweight rating on Google with a $630 price target. The stock closed Tuesday up $3.77 to $578.79.
06:46 EDTAAPLApple in talks to settle A123's lawsuit, Reuters reports
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06:31 EDTAAPLGartner: Apple sold more smartphones than Samsung in Q4
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06:25 EDTBBYBest Buy price target raised to $45 from $41 at JPMorgan
JPMorgan raised its price target for Best Buy shares to $45 saying the company's strategic improvement initiatives are lifting fundamentals. The firm sees continued share upside following the retailer's Q4 results with margins positioned to expand in 2015. It keeps an Overweight rating on the name.
06:16 EDTAAPLApple, Google develop fix for 'Freak' cybersecurity flaw, Reuters says
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06:10 EDTAAPLApple Pay seeing high fraud rates, WSJ says
Banks are experiencing a relatively high amount of fraud on the Apple Pay service, reports the Wall Street Journal's Digits blog, citing people familiar with the matter. Criminals are reportedly exploiting vulnerabilities in the credit card verification process, though banks say they are tightening loopholes. Mobile payment expert Cherian Abraham stated it is not uncommon to see Apple Pay fraud rates as high as 6%, versus a roughly 0.1% fraud rate with plastic cards. Reference Link
March 3, 2015
16:01 EDTAAPLOptions Update; March 3, 2015
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15:57 EDTBBYBofA/Merrill retail analysts hold an analyst/industry conference call
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11:55 EDTAAPLUBS, BofA get more positive on Google outlook
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09:35 EDTAAPLActive equity options trading on open
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09:26 EDTBBY, RIGLOn The Fly: Pre-market Movers
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08:36 EDTBBYBest Buy says Phase 2 of Renew Blue will be backloaded to 2H16
The newer investments will be "much more structural and will come incrementally." Over the next three years, the company expects to see the cost line and the top line.
08:34 EDTBBYBest Buy sees 1H16 comparable sales to be flat to negative low single digits
The comparable sales outlook is driven by a materials decline in tablet category and 2014 holiday momentum not continuing in the new year. Sees non-GAAP operating income down 30 to 50 basis points in 1H16. Reflects economic and growth pressures, 2016 investments into the growth initiatives, and anticipated SG&A inflation. Sees Q1 online growth in mid single digit range. Expects financial impact of economic pressures to begin in Q1 and continue throughout the year. It is optmistic of new product launches, but limited visibility keeps BestBuy "cautious" for the overall industry. Sees 1H16 income tax rate of 39%-40%.
08:30 EDTAAPLVisa should benefit from proliferation of token services, says Pacific Crest
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08:21 EDTBBYBest Buy sees FY16 CapEx $650M-$700M in 'year of investment'
The company expects to accelerate the expansion of growing categories like large appliances and mobile phones. It expects to transform traditional offerings for customer needs and integrate Geek Squad into BestBuy.com. It expects to improve delivery and the installation experience with $100M-$120M incremental investments in 2016. Comments taken from Q4 earnings conference call.
08:13 EDTAAPLApple price target raised to $155 from $115 at Oppenheimer
Oppenheimer increased its price target on Apple as the firm expects the company's Apple Watch to be superior to the competition in several ways, and believes that it is "an efficient extension of the smartphone" and "a facilitator of intimate personal communications." The firm predicts that the device will significantly boost Apple's revenue and margins. Oppenheimer keeps an Outperform rating on Apple.
07:58 EDTENDPEndo price target raised to $104 from $88 at Canaccord
Canaccord raised its price target on Endo to $104 from $88 following strong Q4 results. The firm cited strength in all business segments, potential for upside to guidance, and its recent sale of AMS, which gives it cash for acquisitions. Canaccord reiterated its Buy rating on Endo shares.
07:48 EDTBBYBest Buy up 4.5% after Q4 earnings beat, dividend hike
07:44 EDTBBYBest Buy targeting $400M in annualized savings from phase 2 of 'Renew Blue'
Since the 3Q15 earnings release, Renew Blue annualized cost reductions have increased an additional $55M, bringing the total Renew Blue annualized cost reductions to $1.02B, Best Buy stated. In FY16, the company is launching Phase Two of its Renew Blue cost reduction and gross profit optimization program with a target of approximately $400Min annualized operating income improvement over three years, including the remaining benefit of approximately $250M from the company’s previously discussed returns, replacements and damages opportunity. These savings will be structural in nature and will be driven by streamlined processes and operational efficiencies that will be primarily enabled through investments in systems.
07:37 EDTRIGLRigel Pharmaceuticals reports Q4 EPS (25c), consensus (26c)
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07:11 EDTBBYBest Buy CEO says FY16 to be year of investment
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07:10 EDTBBYBest Buy says Q4 strength in phones, large tvs offset tablet weakness
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07:08 EDTBBYBest Buy completes sale of its Five Star business in China
As previously announced on December 4, 2014, the company entered into a definitive agreement to sell its Five Star business in China. As a result of this agreement, Five Star was classified as held for sale at the end of FY15 and its results are included in discontinued operations for the current and prior-year periods. On February 13, Best Buy completed the sale of Five Star. The company has recast certain financial information for FY14 and FY15 to reflect the results from the Five Star business in China as discontinued operations.
07:05 EDTBBYBest Buy raises dividend 21%, declares special dividend, to resume share buyback
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07:03 EDTBBYBest Buy intends to buyback $1B in shares over three years
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07:02 EDTBBYBest Buy announces special dividend of 51c, raises regular dividend 21% to 23c
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07:02 EDTBBYBest Buy reports Q4 EPS $1.48, consensus $1.35
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06:41 EDTAAPLPiper says Apple Watch price could approach $600
Piper Jaffray analyst Gene Munster believes the average selling price for the upcoming Apple Watch could be closer to $575-$600, above his current estimate of $500, when adding in additional bands. Munster sees the potential for higher segment gross margins than previously thought. He points out his 2015 Watch estimate remains at 8M units, well below the Street's 14M. Munster keeps an Overweight rating on Apple with a $160 price target.
06:24 EDTAAPLApple-Google proposed $415M settlement headed towards approval, Reuters says
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March 2, 2015
16:26 EDTENDPOn The Fly: Closing Wrap
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16:02 EDTAAPLOptions Update; March 2, 2015
iPath S&P 500 VIX Short-Term Futures down 91c to 26.70. Option volume leaders: AAPL TSLA TWTR MBI MCD NFLX AMZN GOOG BAC C according to Track Data.
15:23 EDTBBYNotable companies reporting before tomorrow's open
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14:32 EDTBBYBest Buy March weekly 38.5 straddle priced for 7% movement into Q4
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14:28 EDTBBYBest Buy technical comments before results
The stock has had a strong advance over the prior year, but that has stalled somewhat heading into earnings in the last few months. The shares have been in a trading range largely bound by $35 at the low, and $40 at the high. Those two levels can help up project where price may go following results. A breakout above the $40 area, at the 52-week high, would be bullish. Based on the size of the trading range, we could expect a move to the $45 area would then be in the cards, or possibly better depending on the degree of positive surprise. If the news is bearish and price breaks down below $35, the following support levels could become downside objectives: $33.17, $31.30.
13:07 EDTAAPLPayPal reveals new physical card reader, Venture Beat says
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13:05 EDTSGoogle confirms intent to launch U.S. wireless service, WSJ says
Speaking at an industry conference in Barcelona, Sundar Pichai, who oversees Google’s (GOOG) mobile operating system Android, said the search giant will launch a small scale U.S. wireless service with details to be unveiled in the months ahead, says the Wall Street Journal. Other companies in the space include Verizon (VZ), AT&T (T), Sprint (S) and T-Mobile (TMUS). Reference Link
12:13 EDTENDPOn The Fly: Midday Wrap
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10:55 EDTAAPLApple Watch expected to be available outside U.S. in April, 9to5Mac reports
The Apple Watch will not be exclusive to the United States when it launches next month, reports 9to5Mac. According to employees in attendance when CEO Tim Cook spoke at the Berlin Apple Store last week, Cook said the watch will launch in Germany during the same month as the U.S. Reference Link
09:34 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL MNTA CELG TSLA MCD ARUN GILD KO TWTR NFLX
09:16 EDTAAPLSamsung Pay could 'dwarf' Apple Pay, says Jefferies
Jefferies says Samsung Pay has the potential to "dwarf" Apple (AAPL) Pay since it targets the vast majority of currently installed payment terminals which utilize conventional magstripe technology, versus Apple's payment system which is limited in its acceptance by the availability of NFC-capable terminals. Jefferies believes Samsung's Galaxy S6/S6 Edge integrates Magnetic Secure Transmission technology acquired from LoopPay within its batteries. It views Samsung Pay as the biggest positive surprise of Samsung's new phone.
09:14 EDTAAPLApple, Google employees asking for $415M poaching settlement, Reuters says
Silicon Valley workers alleging that Apple (APPL), Google (GOOG), Intel (INTC), and Adobe (ADBE) colluded to limit poaching will attempt on Monday to win court approval for a $415M claim, reports Reuters. A judge had rejected the previous settlement offer of $324.5M as too low, saying the settlement would need to reach at least $380M. Reference Link
08:29 EDTAAPLMicrosoft reportedly to buy news app for $30M, TechCrunch says
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07:59 EDTBBYBest Buy volatility elevated into Q4 and outlook
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07:38 EDTYELPJMP Securities to hold a conference
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07:16 EDTENDPEndo to divest AMS men's and prostate health businesses to Boston Scientific
Endo International (ENDP) announced it has entered into a definitive agreement with Boston Scientific (BSX), under which Boston Scientific will acquire Endo's American Medical Systems' Men's and Prostate Health businesses for up to $1.65B, with $1.6B in cash payable at closing. Endo is also eligible to receive a potential milestone payment of $50M in cash conditioned on Boston Scientific achieving certain product revenue milestones in the Men's Health and Prostate Health businesses in 2016. In addition, Endo is currently evaluating strategic alternatives for the AMS Women's Health business. The transaction is expected to close in the third quarter of 2015, subject to customary conditions, including the expiration or termination of any applicable waiting periods under applicable competition laws. Endo will classify and report results of AMS as Discontinued Operations. FY15 Endo guidance will be provided on a continuing operations basis.
07:15 EDTENDPEndo sees FY15 adjusted EPS ex-AMS $4.35-$4.55, consensus $4.88
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07:11 EDTENDPEndo reports Q4 adjusted EPS $1.16, consensus $1.12
Reports Q4 revenue $799.96M, consensus $780.44M.
07:10 EDTENDPEndo to sell AMS urology portfolio to Boston Scientific for up to $1.65B
Boston Scientific (BSX) announced that it has entered into a definitive agreement with Endo International (ENDP) to acquire the American Medical Systems' urology portfolio, which includes the Men's Health and Prostate Health businesses, for $1.6B in up-front cash and a potential additional $50M milestone based on 2016 sales. The company expects to close the transaction in the third quarter of 2015, subject to customary closing conditions. Upon completion of the transaction, the AMS Men's Health and Prostate Health businesses will become part of Boston Scientific Urology and Women's Health. The acquisition encompasses the AMS product portfolio for treating urologic conditions, including benign prostatic hyperplasia, male stress urinary incontinence and erectile dysfunction. These technologies complement Boston Scientific's strong kidney stone, pelvic organ prolapse, female stress urinary incontinence and abnormal uterine bleeding treatment portfolios, and together, will provide customers with a comprehensive urology, urogynecology and gynecologic surgery portfolio. The AMS women's health business for treating pelvic organ prolapse and female stress urinary incontinence is not included in the transaction. The AMS Men's Health and Prostate Health businesses generated 2014 sales of approximately $400M and adjusted operating income of approximately $130M, excluding amortization and certain allocated expenses. GAAP operating income, including amortization and certain allocated expenses, was approximately $60M in 2014. The acquisition is expected to result in annual pre-tax synergies in excess of $50M by the end of 2018. On an adjusted basis, the transaction is expected to be breakeven to adjusted earnings per share in 2015, accretive by at least 3c in 2016, approximately 7c in 2017, and increasingly accretive thereafter. The transaction is expected to be less accretive, or dilutive, as the case may be, on a GAAP basis 2015 through 2017, due to amortization expense and transaction and integration costs. The acquisition is being structured as an asset purchase for tax purposes. Boston Scientific intends to finance the acquisition through a combination of existing and newly committed credit facilities.
07:08 EDTENDPEndo to sell AMS urology portfolio to Boston Scientific for up to $1.65B
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07:08 EDTENDPBoston Scientific enters $1.65B agreement with Endo to acquire urology portfolio
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06:41 EDTAAPLiPhone 6s will have Force Touch, won't have multi-cameras, AppleInsider says
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06:22 EDTAAPLApple price target raised to $160 from $133 at Morgan Stanley
Morgan Stanley raised Apple's price target to $160 and increased its bull cast to $190 based on the accelerated pace of category expansion. The firm believes the strong platform creates a "halo effect" as users buy multiple devices and added services and software, which attracts more developers and partners and improves the entire ecosystem. Shares are Overweight rated.
06:01 EDTAAPLNorthern Trust debit cards now support Apple Pay
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05:59 EDTAAPLSamsung announces Samsung Pay mobile payment system
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March 1, 2015
18:28 EDTAAPLBlackBerry expands cross platform strategy
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17:44 EDTBBY, SSprint, Best Buy announce 'Best Buy One Plan'
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February 27, 2015
16:06 EDTAAPLOptions Update; February 27, 2015
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14:03 EDTSSprint CEO share purchase shows high commitment, says Wells Fargo
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13:08 EDTSSprint CEO discloses 5.08M share purchase
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12:50 EDTAAPLApple CEO says consumers will find many reasons to admire watch, Telegraph says
Apple CEO Tim Cook said that people will buy Apple's Apple Watch for one reason, and then discover that they like it for many reasons, according to The Telegraph. The watch will give users rewards if they hit exercise goals and could be used to replace car keys and security fobs used by many vehicles, the newspaper quoted Cook as saying. Reference Link
09:59 EDTAAPLApple slips below $130, levels to watch
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09:46 EDTBBYBest Buy management to meet with JPMorgan
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09:35 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL MCD GOOG MNST BAC TSLA NFLX SINA AMZN WYNN
06:48 EDTAAPLApple hiring engineers to work on virtual reality products, 9to5Mac reports
Apple is hiring hardware engineers to work on virtual reality products, according to 9to5Mac, which cites job listings that have appeared this week. According to the ads, Apple is seeking to hire a Senior Display Systems Engineer for "display systems design and development related to VR environments" and a Senior Display Software Engineer to support graphics software engineering efforts for VR environments. Reference Link
06:39 EDTAAPLTexas company sues Apple over additional alleged patent violations, Reuters says
The Texas company that on Tuesday won a $533M patent infringement verdict against Apple (AAPL) is launching another patent lawsuit against the iPhone maker, according to Reuters. Filed Wednesday night, the new lawsuit addresses technology used by Apple devices that were launched after the previous case began, the news service stated. Reference Link
06:32 EDTAAPLCiti sees April 16 launch date for Apple Watch
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05:26 EDTAAPLEricsson files lawsuits against Apple
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February 26, 2015
16:00 EDTAAPLOptions Update; February 26, 2015
iPath S&P 500 VIX Short-Term Futures down 33c to 27.78. Option volume leaders: AAPL TSLA TWTR C ZNGA MCD RIG NFLX according to Track Data.
12:05 EDTAAPLApple to host event on March 9, Business Insider reports
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12:04 EDTBBYBest Buy volatility increases into Q4 and outlook
Best Buy March weekly call option implied volatility is at 60, March is at 42, April is at 35, June is at 34; compared to its 26-week average of 41 according to Track Data, suggesting large near term price movement into the expected release Q4 results on March 3.
11:15 EDTAAPLStocks with call strike movement; AAPL CRM
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10:24 EDTAAPLApple falls, levels to watch
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10:22 EDTAAPLTesla jumps 2% as Chinese language report fuels speculation
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10:00 EDTYELPOn The Fly: Analyst Initiation Summary
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09:35 EDTAAPLActive equity options trading on open
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07:58 EDTAAPLAvago price target raised to $145 from $120 at Brean Capital
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07:33 EDTENDPQLT Inc. reports Q4 EPS 31c, consensus 14c
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February 25, 2015
18:24 EDTYELPOn The Fly: After Hours Movers
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16:21 EDTYELPYelp initiated with an Overweight at Morgan Stanley
Target $62.
16:00 EDTAAPLOptions Update; February 25, 2015
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15:50 EDTAAPLApple pivots lower, levels to watch
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13:14 EDTAAPLFirm says iPad's market share fell sharply, Business Insider reports
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10:01 EDTAAPLIDC reports Samsung retains 22% smartphone marketshare in India
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10:01 EDTSAMOn The Fly: Analyst Downgrade Summary
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09:48 EDTAAPLIDC reports 96.3% smartphone marketshare for iPhone, Android
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09:36 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL HPQ PBR FSLR MRVL TSLA LVS ABX TWTR MGM
09:25 EDTAAPLCisco, Apple among U.S. names cut from China state buying list, Reuters says
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09:08 EDTSAMOn The Fly: Pre-market Movers
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09:01 EDTAAPLMorgan Stanley says Apple Pay available for Wealth Management clients
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07:27 EDTAAPLApple reportedly creating streaming music service, may relaunch iTunes, BI says
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07:13 EDTAAPLApple price target raised to $150 from $130 at Stifel
Stifel increased its price target on Apple as the firm thinks the company "has more than enough capacity" to increase its dividend to $2.30-$2.40 per share. The firm indicates that it believes that Apple can reduce its tax rate. Stifel keeps a Buy rating on the stock.
06:22 EDTAAPLJury orders Apple to pay $533M for patent violations, Reuters reports
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06:19 EDTSAMBoston Beer downgraded to Market Perform from Outperform at Cowen
Cowen downgraded Boston Beer to Market Perform to reflect weak 2015 guidance and reduced preliminary shipment growth. Given the reduced outlook, the firm lowered its price target to $308 from $336 and now views valuation as rich.
06:01 EDTAAPLGlobal tablet shipments forecast at 221.4M units in 2015, DigiTimes says
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February 24, 2015
18:15 EDTSAMOn The Fly: After Hours Movers
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16:30 EDTSAMBoston Beer sees 2015 EPS $7.10-$7.50, consensus $7.96
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16:29 EDTSAMBoston Beer reports Q4 EPS $1.40, consensus $1.37
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16:06 EDTAAPLOptions Update; February 24, 2015
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15:21 EDTSAMNotable companies reporting after market close
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14:35 EDTAAPLMicron retreats amid pricing, Apple worries but analysts defend shares
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14:31 EDTENDPBoston Scientific deal for Endo unit would be favorably received, says Needham
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13:23 EDTCVSLeerink healthcare technology analyst holds analyst/industry conference call
Healthcare Tech & Distribution Analyst Larsen discusses th 2016 Pharmacy Benefits Management (PBM) selling season, the impact of the Hep C PBM formulary negotiations on the selling season and specialty drug trend and areas of opportunity for PBMs on an Analyst/Industry conference call to be held on March 5 at 2 pm.
12:40 EDTENDPBoston Scientific may strike deal for Endo AMS unit within weeks, Reuters says
Boston Scientific (BSX) is reportedly close to buying Endo International's (ENDP) AMS medical device unit which could be valued at roughly $2B, reports Reuters, citing people familiar with the matter. The sources said the companies want to finalize a deal "within a matter of weeks" but cautioned that talks are continuing and could still fail. Reference Link
12:15 EDTAAPLMicron sell-off 'totally unwarranted,' says Summit Research
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12:14 EDTENDPEndo near deal to sell AMS device unit to Boston Scientific, Reuters says
11:29 EDTAAPLApple could thrive in auto sector, Morgan Stanley says
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10:43 EDTAAPLMicron drop on Apple speculation presents buying opportunity, says Stifel
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10:14 EDTAAPLSamsung reportedly reaches deal with LG, Apple to supply DRAM, Korea Times says
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09:35 EDTAAPLActive equity options trading on open
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08:39 EDTAAPLApple near-term capital return could be less than expected, says UBS
UBS said they believe Apple could take a near-term breather on capital returns due to potential U.S. tax reform, increased dependence on debt issuance for stock buyback funding, and the potential for its board to wait for more clarity on repatriation. UBS reiterated its Buy rating and $150 price target on Apple shares.
06:39 EDTAAPLVisa Europe announces 'tokenisation service'
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06:35 EDTSSprint downgraded to Sell from Neutral at BTIG
06:29 EDTAAPLApple hiring chip, battery experts from Samsung, Korea Times reports
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06:27 EDTAAPLApple said to buy music plug-in and effect makker Camel Audio, MacRumors says
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06:06 EDTAAPLApple's market cap hits nearly $775B, CNBC reports
Apple's (AAPL) market cap has reached nearly $775B after the stock closed at a record on Monday, up over 2.7% to $133, CNBC reports. Exxon Mobil (XOM) has a market cap of about $377B. Reference Link
05:59 EDTAAPLStocks with implied volatility movement; BBRY AAPL
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February 23, 2015
16:00 EDTAAPLOptions Update; February 23, 2015
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15:17 EDTAAPLAOL iTunes login pact with Apple ending soon, AppleInsider says
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12:53 EDTENDPAnalysts debate potential for competing Salix takeover bid
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12:28 EDTAAPLGoogle reaches deal with wireless carriers, acquires Softcard tech, Re/code says
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12:21 EDTRIGL, AAPLOn The Fly: Midday Wrap
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12:12 EDTAAPLReport: Apple may be targeting next-gen experts from Samsung, Apple Insider says
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10:11 EDTAAPLApple breakout continues, levels to watch
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09:39 EDTAAPLActive equity options trading on open
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09:25 EDTRIGLOn The Fly: Pre-market Movers
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09:04 EDTAAPLApple volatility flat as shares near record
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09:02 EDTENDPAcceptance of NDA for Belbuca triggers $10M milestone payment to BDSI
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08:15 EDTRIGLRigel Pharmaceuticals and Bristol-Myers announces R&D collaboration agreement
Rigel Pharmaceuticals (RIGL) and Bristol-Myers (BMY) announced that they have entered into a collaboration agreement for the discovery, development and commercialization of cancer immunotherapies based on Rigel's extensive portfolio of small molecule TGF beta receptor kinase inhibitors. TGF beta can promote tumor growth, broadly suppress the immune system and increase the ability of tumors to spread in the body. The collaboration will focus on developing a new class of therapeutics aimed at increasing the immune system's activity against various cancers either as monotherapy or in combination with immune checkpoint inhibitors, including Bristol-Myers Squibb's Opdivo and Yervoy. Under the terms of the agreement, Bristol-Myers Squibb will obtain exclusive, worldwide rights to develop and commercialize small molecule therapeutics derived from Rigel's TGF beta library, including, but not limited to, those approved to treat cancer. Bristol-Myers Squibb will pay $30M upfront and Rigel will be eligible to receive development and regulatory milestones that could total more than $309M for a successful compound approved in multiple indications. Rigel will also be eligible to receive tiered royalties on the net sales of any products from the collaboration.
08:06 EDTRIGLBristol-Myers, Rigel enter R&D agreement for TGF beta receptor kinase inhibitors
Rigel Pharmaceuticals (RIGL) and Bristol-Myers Squibb (BMY) announced that they have entered into a collaboration agreement for the discovery, development and commercialization of cancer immunotherapies based on Rigel’s extensive portfolio of small molecule TGF beta receptor kinase inhibitors. TGF beta can promote tumor growth, broadly suppress the immune system and increase the ability of tumors to spread in the body. The collaboration will focus on developing a new class of therapeutics aimed at increasing the immune system’s activity against various cancers either as monotherapy or in combination with immune checkpoint inhibitors, including Bristol-Myers Squibb’s Opdivo, or nivolumab, and Yervoy, or ipilimumab. Under the terms of the agreement, Bristol-Myers Squibb will obtain exclusive, worldwide rights to develop and commercialize small molecule therapeutics derived from Rigel’s TGF beta library, including, but not limited to, those approved to treat cancer. Bristol-Myers Squibb will pay $30M upfront and Rigel will be eligible to receive development and regulatory milestones that could total more than $309M for a successful compound approved in multiple indications. Rigel will also be eligible to receive tiered royalties on the net sales of any products from the collaboration.
07:31 EDTENDPEndo, BioDelivery Sciences announce acceptance of NDA for Belbuca
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07:29 EDTAAPLJapan Display asking Apple to finance new smartphone screen plant, Reuters says
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06:21 EDTAAPLFacebook's shuttle drivers approve new union contract, WSJ reports
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06:04 EDTAAPLApple to publicly beta test iOS update, Re/code says
Apple plans to allow consumers to test the next update for its iOS mobile operating system, reports Re/code. The beta test will be available mid-March through the company's Apple Seed program. Reference Link
05:29 EDTAAPLApple to invest EUR 1.6B in new European data centers
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05:27 EDTAAPLApple to invest EUR 1.6B in new European data centers
February 22, 2015
17:11 EDTAAPLApple could reach $160 in a year, Barron's says
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15:59 EDTENDPValeant to buy Salix for $10.1B, FT says
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15:11 EDTAAPLApple increases capabilities in industrial lithium-ion batteries, Reuters says
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February 20, 2015
16:48 EDTAAPLDow, S&P 500 finish week at record highs after Greek deal reached
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16:03 EDTAAPLOptions Update; February 20, 2015
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11:02 EDTAAPLApple electric car could be 'iPhone of the Future,' says Cantor
Cantor Fitzgerald analyst Brian White says he believes an electric car from Apple has the potential to be the "iPhone of the Future." White, in a note to investors today, added that he doubts Apple's reach will stop there. He believes the personal robot category offers "great potential over the next decade and fits well with Apple's skill set." White thinks the reports of an electric car show innovation at the tech giant continues. He keeps a Buy rating Apple shares with a $160 price target. The stock is up 30c it morning trading to $128.71.
11:00 EDTAAPLApple electric car could be 'iPhone of the Future,' sys Cantor
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09:49 EDTYELPYelp initiated with a Buy at Rosenblatt
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09:38 EDTAAPLActive equity options trading on open
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09:17 EDTENDPEndo price target raised to $101 from $86 at Goldman
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08:34 EDTYELPYelp suing companies over fake positive reviews, NY Post says
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08:21 EDTENDPSummer Street still feels Endo could acquire BioDelivery Sciences
Summer Street reiterated its belief that Endo (ENDP) could acquire BioDelivery Sciences (BDSI), its partner on multiple products. The firm says scripts for BioDelivery's Bunavail continue to trend in the right direction. It reiterates a Buy rating on the stock with a $25 price target.
06:41 EDTAAPLApple pushing for 2020 production of its electric car, Bloomberg says
Apple (AAPL) is pushing to begin production of its electric vehicle as soon as 2020, reports Bloomberg, citing people with knowledge of the matter. Bloomberg notes that the move could put Apple into direct competition with Tesla (TSLA) and General Motors (GM), both of which are targeting a 2017 release for next-generation electric vehicles. Apple may still cancel the project if it becomes unhappy with progress, the sources said, though its vehicle team is already 200-people strong. Reference Link
06:20 EDTAAPLApple price target raised to $145 on increasingly bullish outlook at Goldman
Goldman raised Buy rated Apple's price target to $145 from $130 based on increased confidence in platform momentum, sustained iPhone growth, and the potential for the Apple Watch. The firm believes risk/reward is more balanced following the recent 20% upside move but sees further upside given the aforementioned factors and the near-term catalysts from the April watch launch, updates on capital allocation, and a likely March quarter beat.
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