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Stock Market & Financial Investment News

News Breaks
November 13, 2012
10:00 EDTSOHU, VMW, SDRL, RBC, HITT, INVN, XOMA, SDLP, PDLI, FCS, EMC, SGEN, REGN, NGS, BERYOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Berry Plastics (BERY) initiated with a Buy at Citigroup... Fairchild Semiconductor (FCS) initiated with a Positive at Susquehanna... Hittite Microwave (HITT) initiated with an Outperform at Wells Fargo... New Gold (NGD) initiated with an Outperform at Credit Suisse... PDL BioPharma (PDLI) initiated with a Neutral at Credit Suisse... Regal-Beloit (RBC) initiated with a Buy at Janney Capital... Regeneron (REGN) initiated with an Outperform at Credit Suisse... Seadrill Partners (SDLP) initiated with a Buy at Citigroup... Seadrill (SDRL) initiated with a Buy at Deutsche Bank... Seattle Genetics (SGEN) initiated with an Outperform at Credit Suisse... XOMA (XOMA) initiated with an Outperform at Credit Suisse... VMWare (VMW) initiated with a Hold at Craig-Hallum... EMC (EMC) initiated with a Hold at Craig-Hallum... InvenSense (INVN) initiated with a Buy at Maxim... Sohu.com (SOHU) initiated with an Inderweight at HSBC.
News For BERY;FCS;HITT;NGS;PDLI;RBC;REGN;SDLP;SDRL;SGEN;XOMA;VMW;EMC;INVN;SOHU From The Last 14 Days
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May 26, 2015
08:16 EDTEMCEMC volatility low into acquiring Virtustream in deal valued at $1.2B in cash
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08:15 EDTEMCEMC to host conference call
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08:04 EDTEMCEMC to acquire Virtustream in deal valued at $1.2B in cash
EMC Corporation announced it has entered into a definitive agreement to acquire privately-held Virtustream. When the transaction closes, Virtustream will form EMC's new managed cloud services business. Virtustream's cloud software and Infrastructure-as-a-Service portfolio will be delivered directly to customers and through partners. EMC Federation service provider partners will receive access to Virtustream's xStream cloud management software platform and be enabled to adopt and deliver their own branded services based upon it. The all-cash transaction is expected to close in the third quarter of 2015, subject to customary closing conditions, is valued at approximately $1.2B, and has been approved by the boards of directors of both EMC and Virtustream and the requisite Virtustream stockholders. The transaction is expected to have no material impact to EMC financial results in 2015 and is expected to be additive to revenues and accretive to EPS in 2016.
08:02 EDTEMCEMC to acquire Virtustream in deal valued at $1.2B in cash
07:15 EDTRBCKeyBanc to hold a conference
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May 22, 2015
09:34 EDTSDRLActive equity options trading on open
Active equity options trading on open: AAPL BABA AMZN FB MU BIDU SDRL BAC INTC EXPE CHK FEYE
May 21, 2015
16:20 EDTFCSFairchild announces new $150M share buyback authorization
Fairchild announced that its board has authorized the company to repurchase up to $150M of common stock during the next twelve months. Fairchild will repurchase shares at times and prices considered appropriate by the company.
15:01 EDTNGSNatural Gas Services management to meet with CL King
Meeting to be held in Boston on May 21 hosted by CL King.
14:48 EDTREGNRegeneron primary driver remains Praluent, says Piper Jaffray
Piper Jaffray noted that Regeneron (REGN) shares are at all-time highs after the company and partner Sanofi reported Phase IIb data on Dupilumab and Phase III data on Sarilumab. However, the firm believes the primary driver for Regeneron remains Praluent and firm expects launch costs to outstrip sales growth. Piper acknowledges Regeneron has "one of the richest pipelines in all of biotech," but it sees risk around Amgen's (AMGN) patent suit and keeps its Neutral rating and $484 price target on the stock.
11:39 EDTEMCNetApp hits 52-week low after results, outlook miss expectations
Shares of storage company NetApp (NTAP) are falling after the company’s fourth quarter results and first quarter outlook significantly trailed analysts’ consensus estimates. WHAT'S NEW: Yesterday, NetApp reported Q4 adjusted earnings per share of 65c and revenue of $1.54B, trailing analysts’ consensus estimates of 72c and $1.59B, respectively. The company raised its quarterly dividend 9% to 18c per share. It also announced a “realignment” that will be implemented through the end of 3Q16. As part of the realignment, NetApp expects to reduce worldwide headcount by approximately 500 employees. The company expects to incur aggregate charges of approximately $25M-$35M for employee terminations and other costs associated with the realignment. WHAT’S NOTABLE: Looking ahead to Q1, NetApp forecast adjusted EPS of 20c-25c and revenue of $1.275B-$1.375B, well below the consensus of 60c and $1.46B, respectively. On the company’s conference call, management said it sees a return to a growth trajectory in second half of FY16. OEM revenue ended at less than 10% of FY15 net revenues and normalized to a level of revenue that the company will no longer discuss separately, management stated, adding that the company is well positioned for the era of cloud computing. They expect to reduce the company’s share count by another 5%, and see operating margins back in range in the second half of the year. ANALYST REACTION: This morning, JP Morgan, Cantor, Summit Research and Needham all downgraded NetApp following its Q4 report. JPMorgan went to Underweight on NetApp, citing the "tough" Cluster ONTAP product transition after the company's Q1 revenue guidance missed expectations. The firm cut its price target for shares to $29 from $35. Cantor Fitzgerald's Brian White downgraded NetApp to Hold from Buy, citing execution issues with the product transition and secular challenges for the storage market, and cut his price target for shares to $35 from $43. Last night marked the seventh time in eight quarters that NetApp missed estimates, Summit Research noted. PRICE ACTION: In late morning trading, NetApp fell $4.17, or about 12%, to $31.16 on nearly four times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $30.90. Including today's pull back, the shares have lost approximately 10% over the past 12 months. OTHERS TO WATCH: Other companies in the in the storage space include EMC Corporation (EMC), Dot Hill Systems (HILL) and Nimble Storage (NMBL).
05:15 EDTREGNRegeneron, Sanofi announce positive topline results from sarilumab Phase 3 study
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May 20, 2015
08:53 EDTREGNRegeneron price target raised to $560 from $500 at Argus
Argus increased its price target on Regeneron as the firm notes that the company has had positive pipeline and earnings news over the past year, and has increased its sales outlook. Argus thinks the company has a strong pipeline and keeps a Buy rating on the shares.
07:38 EDTREGNRegeneron price target raised to $600 from $525 at Canaccord
Canaccord raised its price target on Regeneron to $600 from $525 following positive top-line data for its Phase 2b study of dupilumab in adult patients with moderate-to-severe asthma. The firm sees the data as significant, as it reinforces the role of dupilumab and increases the potential future revenue stream for the company. Canaccord reiterated its Buy rating on Regeneron shares.
May 18, 2015
12:34 EDTREGNRegeneron, Sanofi announce positive pivotal Phase 2b dupilumab data in asthma
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07:27 EDTEMCJPMorgan to hold a conference
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May 15, 2015
17:33 EDTVMW, EMC, RBCPoint72 Asset Management gives quarterly update on stakes
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16:51 EDTEMCGreenlight Capital gives quarterly update on stakes
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12:13 EDTEMCThird Point gives quarterly update on stakes
NEW STAKES: Yum! Brands (YUM), NXP Semiconductors (NXPI), FedEx (FDX), McKesson (MCK), and J M Smucker (SJM). INCREASED STAKES: Actavis (ACT), Roper Technologies (ROP), Delta Air Lines (DAL), and FleetCor Technologies (FLT). DECREASED STAKES: Ally Financial (ALLY), Amgen (AMGN), Phillips 66 (PSX), eBay (EBAY), and Anheuser Busch Inbev SA (BUD). LIQUIDATED STAKES: Alibaba Group (BABA), Citigroup (C), EMC Corporation (EMC), Anglo American (AAL), and Williams Companies (WMB).
08:15 EDTREGNRegeneron target upped to $550 at Credit Suisse citing growth potential
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08:04 EDTREGNRegeneron price target raised to $450 from $427 at JPMorgan
JPMorgan said it is "increasingly confident" in dupilumab's longer-term prospects in asthma ahead of the full Phase 2b results. The firm believes the drug's peak sales could top $4B. JPMorgan keeps a Neutral rating on Regeneron, however, saying its valuation already reflects blockbuster sales for Eylea, Praluent, sarilumab and dupilumab. It raised its price target for the name to $450 from $427.
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