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Stock Market & Financial Investment News

News Breaks
February 8, 2013
09:25 EDTBDE, BDEBlack Diamond to host conference call
Conference call to discuss preliminary 2012 results and 2013 outlook will be held on February 14 at 5 pm. Webcast Link
News For BDE From The Last 14 Days
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March 17, 2015
12:38 EDTBDEOn 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.
10:00 EDTBDEOn The Fly: Analyst Downgrade Summary
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10:00 EDTBDEOn The Fly: Analyst Upgrade Summary
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09:25 EDTBDEOn The Fly: Pre-market Movers
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08:22 EDTBDEBlack Diamond upgraded to Buy from Neutral at DA Davidson
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07:40 EDTBDEBlack Diamond price target raised to $17 from $12 at Canaccord
Canaccord raised its price target on Black Diamond to $17 from $12 following Q4 results and its disclosure that the company is exploring strategic alternatives. The firm feels Black Diamond will sell assets either jointly or separately and believes the shares will trade materially higher on this event. Canaccord reiterated its Buy rating on Black Diamond shares.
06:55 EDTBDEBlack Diamond upgraded at Stifel
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06:53 EDTBDEBlack Diamond upgraded to Buy from Hold at Stifel
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06:26 EDTBDEBlack Diamond downgraded to Hold from Buy at Needham
March 16, 2015
19:00 EDTBDEOn The Fly: After Hours Movers
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16:15 EDTBDEBlack Diamond sees FY15 revenue $208M, consensus $217.21M
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16:14 EDTBDEBlack Diamond reports Q4 adjusted EPS 9c, consensus 11c
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16:12 EDTBDEBlack Diamond engages Rothschild, Baird to explore strategic alternatives
Black Diamond announced it has engaged the financial advisory firms Rothschild and Robert W. Baird to lead the exploration of a full range of strategic alternatives for each of the company's brands, Black Diamond, POC and PIEPS. Warren Kanders, executive chairman of Black Diamond, commented: "Over the last 15 months, we have undertaken a series of actions to leverage the significant growth in our brands, optimize our platform, drive significant cost reductions, and position the company for stronger financial and brand performance. We believe the growth in sales and margin in the fourth quarter is an early indication of the benefits of these actions, which we expect to realize increasingly over time. At a time when premium active lifestyle and outdoor brands are selling at historically high levels, and there is a scarcity of authentic branded assets available to strategic acquirers, the board's decision to investigate its strategic alternatives results from its belief that the company is likely to utilize 100% of its NOL balances in connection with this process and represents the logical next step in our ongoing efforts to unlock value for Black Diamond shareholders." Black Diamond has not set a timetable for completion of this strategic review process, and does not intend to comment further regarding the review process unless or until a specific transaction is approved by its board of directors or shareholders, the review process is concluded, or it is otherwise determined that further disclosure is appropriate or required by law.
16:11 EDTBDEBlack Diamond engages Rothschild, Baird to explore strategic alternatives
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