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News Breaks
November 12, 2012
10:00 EDTBMY, STRA, JNJ, IQNT, HES, VNO, NKTR, JCP, CAT, PBR, VRTX, KRC, GRMNOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Caterpillar (CAT) downgraded to Neutral from Overweight at JPMorgan... Garmin (GRMN) downgraded to Sell from Neutral at Goldman... Inteliquent (IQNT) downgraded to Underweight from Equal Weight at Morgan Stanley... J.C. Penney (JCP) downgraded to Underperform from Neutral at Credit Suisse... Johnson & Johnson (JNJ) downgraded to Hold from Buy at Jefferies... Kilroy Realty (KRC) downgraded to Neutral from Buy at BofA/Merrill... Nektar (NKTR) downgraded to Hold from Buy at Jefferies... Strayer Education (STRA) downgraded to Neutral from Overweight at JPMorgan... Vertex (VRTX) downgraded to Neutral from Outperform at Credit Suisse... Vornado (VNO) downgraded to Neutral from Buy at BofA/Merrill... Bristol-Meyers (BMY) downgraded to Market Perform from Outperform at BMO Capital... Petrobras (PBR) downgraded to Neutral from Buy at BofA/Merrill... Hess Corp. (HES) downgraded to Market Perform from Outperform at Howard Weil.
News For CAT;IQNT;GRMN;JCP;JNJ;KRC;NKTR;STRA;VRTX;VNO;BMY;PBR;HES From The Last 14 Days
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November 21, 2014
16:20 EDTCATOn The Fly: Closing Wrap
Stocks on Wall Street gained after China's central bank cut interest rates for the first time in over two years to bolster its economy. Additionally, the head of Europe's central bank said he was determined to do what is needed to ensure the area's economy does not once again fall into crisis. ECONOMIC EVENTS: In the U.S., the Kansas City Fed manufacturing index for November had a reading of 7, compared to the consensus forecast for a reading of 6. In Asia, the People's Bank of China unexpectedly cut interest rates, slashing the one-year lending rate by 40 basis points and the one-year deposit rate by 25 basis points. The move, which was the central bank's first interest rate cut since 2012, surprised markets around the globe. In Europe, European Central Bank President Mario Draghi said indicators have been declining to levels he would deem "excessively low" and that he is determined to use more aggressive measures, such as large scale asset purchases, as needed. COMPANY NEWS: Microsoft (MSFT) was the worst performer on the Dow after Jefferies initiated coverage of the stock with an Underperform rating. Microsoft's stock has rallied 30% in the last year, but the company is still facing the same fundamental problems as in previous years, Jefferies analyst John DiFucci wrote. He set a $40 price target on the shares, which slipped 74c, or 1.5%, to $47.97. MAJOR MOVERS: Among the notable gainers was Ross Stores (ROST), which advanced $6.06, or 7.28%, to $89.27 after the company reported stronger than expected Q3 results. Also higher were shares of Caterpillar (CAT), which rose $4.36, or 4.27%, to $106.45 amid the quantitative easing actions taken abroad and after research firm Stifel initiated coverage of the stock with a Buy rating. Among the noteworthy losers was GameStop (GME), which sunk $5.68, or 13.05%, to $37.86 after the video game retailer's third quarter results, as well as its fourth quarter and full year profit forecasts, trailed consensus estimates. Also lower were shares of The Gap (GPS), which dropped $1.68, or 4.19%, to $38.46 after the owner of Banana Republic, Old Navy and its namesake clothing brand lowered its fiscal year profit outlook. INDEXES: The Dow rose 91.06, or 0.5%, to 17,810.06, the Nasdaq gained 11.10, or 0.24%, to 4,712.97, and the S&P 500 added 10.75, or 0.52%, to 2,063.50.
12:10 EDTCATCaterpillar jumps after Stifel puts Buy rating on shares
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10:42 EDTGRMNOptions with increasing implied volatility: VNET GRMN
10:01 EDTCATOn The Fly: Analyst Initiation Summary
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08:28 EDTPBRPetrobras volatility elevated into Q3 and outlook
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06:21 EDTVNOAmazon lease hints at same-day shipping, brick-and-mortar ambitions, WSJ says
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05:59 EDTCATCaterpillar initiated with a Buy at Stifel
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November 20, 2014
13:15 EDTGRMNRaymond James says an outright sale of Garmin is unlikely
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10:37 EDTGRMNOptions with increasing implied volatility
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10:28 EDTPBRPetrobras initiated with a Buy at Deutsche Bank (pre-open)
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09:20 EDTCATCaterpillar reports retail machines sales down 9% in three months end October
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09:05 EDTNKTRNektar presents preclinical study findings for etirinotecan pegol combination
Nektar Therapeutics announced results of a study investigating the preclinical anti-tumor activity and tolerability of etirinotecan pegol in combination with the PARP inhibitor rucaparib in a BRCA1-deficient MX-1 breast tumor model. The preclinical study results demonstrated that all dose combinations of NKTR-102 and rucaparib were well-tolerated, synergistic, and led to 100% prolonged survival in this tumor model. These data were presented during the Symposium on Molecular Targets and Cancer Therapeutics in Barcelona, Spain. NKTR-102 and rucaparib in combination exhibited marked synergy, demonstrated by durable complete responses, even at the lowest doses of both agents dosed in combination. The combination of NKTR-102 and rucaparib was tolerated at all dose levels. Doses used in this study provide exposures of NKTR-102 and rucaparib that are achievable clinically, underscoring the translational relevance of these results. Combination studies of NKTR-102 and rucaparib are ongoing in patient-derived xenograft models in collaboration with Professor Paul Haluska at Mayo Clinic and Clovis Oncology.
07:27 EDTGRMNGarmin volatility elevated
Garmin November call option implied volatility is at 40, December is at 35; compared to its 26-week average of 29 according to Track Data, suggesting large near term price movement.
07:11 EDTVNOBofA/Merrill to hold a conference
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05:12 EDTKRCViacom signs 180K-square foot lease at Columbia Square development in Hollywood
Kilroy Realty (KRC) said it has signed a long-term lease with Viacom (VIAB, VIA) for approximately 180,000 square feet of space at KRC’s 685,000-square-foot, mixed-use Columbia Square development located in the heart of Hollywood. The New York-based company plans to relocate and unite the West Coast operations of Viacom media networks including BET, Comedy Central, MTV, Spike TV, VH1 and TV Land currently based in Santa Monica and in other Los Angeles offices into Columbia Square’s 250,000-square-foot Gower Building. The six-story, dual-core glass and steel Gower Building is the larger of two new office buildings totaling 350,000 square feet currently under construction as part of KRC’s $420M mixed-use project located on Sunset Boulevard. Designed by Rios, Clementi, Hale Studios, Columbia Square will also feature 93,000 square feet of renovated, historical creative office and studio space, 30,000 square feet of retail space, 200 luxury residential units and a five-level subterranean parking structure. Viacom is expected to take occupancy in phases starting in late 2016.
November 19, 2014
13:42 EDTVRTXVertex peak CF sales have bullish read from Royalty Pharma bet, TheStreet says
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13:16 EDTGRMNGarmin is an unlikely acquisition target, says Citigroup at Citigroup
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11:32 EDTGRMNGarmin calls active on takeover speculation
Garmin November 57.5 and December 60 calls are active on total call volume of 8,100 contracts (500 puts) on takeover speculation. November call option implied volatility is at 36, December is at 34; compared to its 26-week average of 29 according to Track Data. Active call volume suggests traders taking positions for upside price movement.
10:42 EDTVRTXUBS hosts a conference call with Vertex Pharmaceuticals
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10:25 EDTJCPOptions with decreasing implied volatility
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