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January 15, 2013
10:03 EDTGMCR, SYMC, CVE, VPHM, DUK, FTI, RPM, RAS, MXIM, CELG, PDH, CS, BSX, MLNX, CLFOn The Fly: Analyst Upgrade Summar
Today's noteworthy upgrades include: Boston Scientific (BSX) upgraded to Outperform from Neutral at Credit Suisse... Celgene (CELG) upgraded to Buy from Neutral at BofA/Merrill... Cliffs Natural (CLF) upgraded to Buy from Hold at Deutsche Bank... Credit Suisse (CS) upgraded to Outperform from Neutral at Exane BNP Paribas... Maxim Integrated (MXIM) upgraded to Outperform from Perform at Oppenheimer... Mellanox (MLNX) upgraded to Buy from Neutral at UBS... PetroLogistics (PDH) upgraded to Buy from Neutral at Citigroup... RAIT Financial (RAS) upgraded to Outperform from Market Perform at FBR Capital... RPM (RPM) upgraded to Perform from Underperform at Oppenheimer... ViroPharma (VPHM) upgraded to Buy from Neutral at BofA/Merrill... Symantec (SYMC) upgraded to Overweight from Equal Weight at Morgan Stanley... FMC Technologies (FTI) upgraded to Overweight from Equal Weight at Morgan Stanley... Cenovus Energy (CVE) upgraded to Overweight from Neutral at JPMorgan... Green Mountain (GMCR) upgraded to Buy from Hold at Argus... Duke Energy (DUK) upgraded to Buy from Neutral at UBS.
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May 14, 2015
15:01 EDTSYMCNotable companies reporting after market close
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12:39 EDTDUKDuke Energy issues statement on court approval of coal ash agreement with DOJ
The company said, "Today's decision by Judge Malcolm Howard officially closes this chapter in our company's history. We've used the Dan River incident as an opportunity to set a new, industry-leading standard for the management of coal ash. We are implementing innovative and sustainable closure solutions for all of our ash basins, building on the important steps we've taken over the past year to strengthen our operations. Our highest priority is to operate our system as safely as possible for the customers and communities we serve."
11:11 EDTCELGAnalysts divided on significance of Celgene blood cancer drug data
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10:00 EDTDUKOn The Fly: Analyst Downgrade Summary
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09:41 EDTBSXLeerink medical devices analyst holds a cardiology luncheon meeting
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08:21 EDTSYMCFinjan says patent suits ongoing with numerous cybersecurity companies
Finjan (FNJN) said it has an active Markman Hearing schedule with two Markman Hearings already concluded in favor of the company and two additional Markman Hearings to be held in Q2. The company has a two-week trial against Blue Coat set to commence on July 20. Finjan has patent infringement lawsuits against FireEye (FEYE), BlueCoat, Proofpoint (PFPT), Sophos, Symantec (SYMC), and Palo Alto Networks (PANW) relating to, collectively, more than 20 patents in the Finjan portfolio. Subsequent to the quarter end, Finjan entered into a negotiated license agreement with F-Secure Corporation, a company incorporated in Finland. The agreement provides for F-Secure to pay Finjan the sum of $1M in cash, to be paid in two installments, consisting of $700,000 which was received on April 22 and $300,000 on or before March 31, 2016. The agreement also provides for the assignment by F-Secure to Finjan of two patents, U.S. Patent Nos. 8,474,048 and 7,749,991.
07:33 EDTDUKDuke Energy downgraded to Neutral from Outperform at Credit Suisse
Credit Suisse reinstated Duke Energy with a Neutral rating from and Outperform rating and an $86 price target, up from $79. The firm said shares currently trade in-line with peers and the company has successfully resolved a number of overhangs during its restriction on shares.
May 13, 2015
17:42 EDTCELGCelgene announces over 55 blood, solid tumor cancer study presentations at ASCO
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16:12 EDTDUKDuke Energy downgraded to Neutral from Outperform at Credit Suisse
07:31 EDTBSXHeart Rhythm Society to hold a conference
Heart Rhythm 2015 is being held in Boston on May 13-16.
07:21 EDTCSCredit Suisse to hold a conference
4th Annual Disruptive Technology Conference is being held in San Francisco on May 13-14 with webcasted company presentations to begin on May 13 at 10:35 am; not all company presentations may be webcasted. Webcast Link
May 12, 2015
08:04 EDTFTICitigroup to hold a conference
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07:50 EDTFTIFMC Technologies positioning for next up cycle, says Susquehanna
Susquehanna met with FMC Technologies management and believes 2016 offers much more promise as large subsea project awards return and the company will benefit from a likely rebound in U.S. E&P spending. Susquehanna reiterated its Positive rating and $48 price target on FMC Technologies shares.
07:33 EDTCELGAlliqua announces licensing agreement with Celgene
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05:23 EDTBSXNevro announces filing of petitions for inter partes review by Boston Scientific
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May 11, 2015
10:17 EDTGMCROptions with decreasing implied volatility
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08:26 EDTDUKDuke Energy issues statement on IURC grid modernization order
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08:20 EDTRASTrade Street Residential agrees to be acquired by Independence Realty Trust
Independence Realty Trust (IRT) and Trade Street Residential (TSRE) jointly announced that IRT and TSRE have signed a definitive merger agreement pursuant to which IRT has agreed to acquire all of the outstanding common stock of Trade Street for a mix of cash and stock, creating a regional market focused, multifamily REIT. Under the terms of the definitive merger agreement, IRT will pay each Trade Street stockholder $3.80 in cash and 0.4108 of newly issued IRT common stock, subject to adjustment as described below. Based on the agreed upon "Reference Price" of $9.25 for IRT shares, this offer represents the equivalent of $7.60 in value to Trade Street stockholders. The transaction is expected to close in the third quarter of 2015, subject to customary closing conditions including the approval of both IRT and Trade Street stockholders. Upon consummation of the merger, IRT's number of properties will increase from 31 to 50 resulting in a 55% increase in units to 14,044. The combined scale will provide an enhanced platform to continue to pursue accretive acquisitions and transformational opportunities. The addition of Trade's Street's high-quality Class A apartment communities will reduce IRT's average property age from 25 years to 20 years while improving average base rents, occupancy levels and operating margins on the expanded platform. The transaction is expected to be accretive to 2016 Core FFO and AFFO per share, with meaningful identified run-rate cost savings and NOI upside from value-add capex. Additionally, with a stronger balance sheet and lower cost of capital, IRT will be better positioned to drive future growth and increase its current quarterly dividend. The transaction has been approved by the board of directors of both IRT and Trade Street. In addition, in connection with the merger agreement, RAIT Financial Trust (RAS), which, with is affiliates and subsidiaries, collectively own approximately 23% of IRT's commons stock, has entered into a voting agreement pursuant to which it has committed to support the transaction. Also in connection with the merger agreement, certain affiliates of Senator Investment Group LP and Monarch Alternative Capital LP, which own approximately 25.4% and 23.0%, respectively, of Trade Street's common stock, have entered into voting agreements pursuant to which they have committed to support the transaction. Upon completion of the merger, the company will retain the Independence Realty Trust name and will trade under the ticker symbol "IRT."
08:07 EDTRASIndependence Realty to acquire Trade Street Residential in cash, stock deal
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May 10, 2015
12:54 EDTDUKDuke, Edison, other utilities could return 8% annually, Barron's says
Shares of Duke Energy (DUK), Southern Company (SO), Consolidated Edison (ED), Edison International (EIX), PG&E (PCG), American Electric (AEP), Dominion (D), and NextEra Energy (NEE) could return 8% or more annually in coming years, Barron's contends in a feature article. Though utilities are sometimes seen as no-growth businesses, Barron's argues that infrastructure replacement projects, rate hikes, and dividend boosts make the sector look attractive. Reference Link
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