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Stock Market & Financial Investment News

News Breaks
November 12, 2012
10:00 EDTPBR, VRTX, KRC, GRMN, BMY, STRA, JNJ, IQNT, HES, VNO, NKTR, JCP, CATOn 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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February 11, 2016
07:06 EDTGRMNGarmin to acquire DeLorme; financial terms not disclosed
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February 10, 2016
10:01 EDTHESOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Akamai (AKAM) upgraded to Buy from Hold at Craig-Hallum... Banco Bilbao (BBVA) upgraded to Outperform from Underperform at Exane BNP Paribas... Coca-Cola (KO) upgraded to Hold from Sell at Societe Generale... Dean Foods (DF) upgraded to Outperform from Market Perform at Bernstein... Dr. Reddy's (RDY) upgraded to Buy from Underperform at CLSA... Essex Property Trust (ESS) upgraded to Hold from Sell at Zelman... FireEye (FEYE) upgraded on positive outlook at BTIG... Goodyear Tire (GT) upgraded to Outperform from Underperform at CLSA... Hess Corp. (HES) upgraded to Conviction Buy from Neutral at Goldman... Hudbay Minerals (HBM) upgraded to Buy from Hold at Canaccord... PROS (PRO) upgraded to Hold from Sell at Craig-Hallum... Press Ganey (PGND) upgraded to Outperform from Neutral at Baird... Salesforce (CRM) upgraded to Buy from Outperform at CLSA... Seattle Genetics (SGEN) upgraded to Buy from Hold at Cantor... Shire (SHPG) upgraded on valuation at RBC Capital... SolarCity (SCTY) upgraded to Strong Buy on valuation at Raymond James... Spark Energy (SPKE) upgraded to Buy from Neutral at Janney Capital... Textura (TXTR) upgraded to Hold from Sell at Benchmark... TransDigm (TDG) upgraded to Gradually Accumulate from Hold at Wellington Shields... Trimble (TRMB) upgraded to Buy from Hold at Needham... U.S. Bancorp (USB) upgraded to Outperform from Market Perform at Wells Fargo... Zurich Insurance (ZURVY) upgraded to Neutral from Underweight at JPMorgan.
09:38 EDTJNJActive equity options trading on open; FB NFLX INTC DIS AAPL BAC CSCO JNJ SCTY
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08:24 EDTNKTREnzon says Nektar granted motion to dismiss breach of contract complaint
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06:59 EDTGRMNGarmin upgrades Volvo Penta glass cockpit system
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06:56 EDTGRMNGarmin's Marine Electronics selected by Pursuit Boats
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05:54 EDTHESHess Corp. upgraded to Conviction Buy from Neutral at Goldman
Goldman Sachs analyst Brian Singer upgraded Hess Corp. to Conviction Buy from Neutral saying he sees 52% total upside to his unchanged price target of $59. The stock closed yesterday down 31c to $38.68. Hess offers "one of the most significant potential resource expansion opportunities" in the Exploration & Production space over the next year given its activity in Guyana and the Gulf of Mexico, Singer tells investors in a research note.
February 9, 2016
19:12 EDTJNJCelltrion says FDA advisory committee recommends approval of CT-P13
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17:44 EDTJCPJ.C. Penney sued by Burberry over alleged patent infringement, Reuters says
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February 8, 2016
18:08 EDTSTRAEducation Department creates enforcement unit targeting education institutions
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13:03 EDTJCPKohl's replaces J.C. Penney as Academy Awards retail sponsor, Fortune says
Kohl's (KSS) will become the sole retail sponsor of the upcoming Academy Awards, replacing J.C. Penney (JCP), which ended its Oscar partnership after 14 years last year, Fortune reports. Kohl's is attempting to increase the visibility and fashion credibility of its private apparel brands and is aiming to showcase its big names, including Sonoma, which is expected to relaunch after the Oscars, the report says. Reference Link
07:39 EDTJNJDiverse set of companies planning layoffs, pulling back spending, WSJ says
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07:25 EDTBMYBiotech Industry Organization to hold a conference
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06:28 EDTJNJ, BMYPharma trade group rolls out ad campaign aimed at lawmakers, WSJ says
The pharmaceutical industry is launching a new ad campaign with the intention of improving its reputation with lawmakers in an effort to lobby against drug price restrictions, the Wall Street Journal reports. The industry's biggest trade group the Pharmaceutical Research and Manufacturers of America, or PhRMA, says it plans to spend several million dollars this year, and 10% more than it spent last year, on digital, radio, and print advertisements that highlight the sector's role in developing new drugs and advancing medical science, the report says. Publicly traded companies in the space include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY). Reference Link
February 5, 2016
12:48 EDTBMYBristol-Myers announces expanded use of Daklinza approved by FDA
Bristol-Myers Squibb announced today that Daklinza, an NS5A replication complex inhibitor, has been approved by the U.S. Food and Drug Administration in combination with sofosbuvir (with or without ribavirin) in genotypes 1 and 3. The expanded label includes data in three additional challenging-to-treat patient populations: chronic hepatitis C virus patients with HIV-1 coinfection, advanced cirrhosis, or post-liver transplant recurrence of HCV. The Daklinza plus sofosbuvir regimen is already available for the treatment of chronic HCV genotype 3, and is currently the only 12-week, once-daily all-oral treatment option for these patients. Sustained virologic response rates are reduced in genotype 3 patients with cirrhosis receiving Daklinza and sofosbuvir for 12 weeks without ribavirin. The recommended dosage of Daklinza is 60 mg in combination with sofosbuvir with or without ribavirin for 12 weeks.
12:12 EDTVRTXOn The Fly: Top stock stories at midday
Stocks began the day lower and have seen little in the way of buying since the open. As the market digested the monthly jobs data and watched the price of oil turn negative, the selling that had taken a two day break was renewed. The Nasdaq is the biggest loser, falling over 2%, while the Dow is down about 1%. ECONOMIC EVENTS: In the U.S., nonfarm payrolls rose 151,000 in January, versus expectations for an increase of 190,000. The unemployment rate fell to 4.9%, versus expectations for it to stay at 5.0%. Average hourly earnings climbed 0.5% month-over-month, versus the consensus forecast for them to rise 0.3%. The trade deficit widened 2.7% to $43.4B in December, as exports dipped 0.3% and imports rose 0.3%. A report on Consumer Credit growth in December is due out at 3 pm ET. COMPANY NEWS: The shares of LinkedIn (LNKD) plunged 40% after the professional network reported stronger than expected fourth quarter results, but its 2016 guidance came in significantly below expectations. At least nine Wall Street research firms responded to the guidance miss by downgrading the stock... Also tumbling in the wake of its quarterly report was "Big Data" software provider Tableau (DATA), which fell 47% after its full-year guidance came in significantly below expectations. Tableau blamed its guidance miss on weaker IT spending trends, as well as competition, and a number of other companies that sell software to businesses also fell following its report, including peer Splunk (SPLK), NetSuite (N), Salesforce (CRM) and Workday (WDAY). MAJOR MOVERS: Among the notable gainers was Cempra (CEMP), which gained about 5% after it said that its solithromycin drug met primary and secondary objectives in its Phase 3 study. Also higher were Tyson Foods (TSN) and Post Holdings (POST), which gained 10% and 11.5%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Vertex (VRTX), which fell 5% after the FDA said that it cannot currently approve a label expansion for Kalydeco in children with residual function mutations. Also lower were Lion's Gate (LGF), YRC Worldwide (YRCW), and Redbox-parent Outerwall (OUTR), which were down 33%, 30%, and 17%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was down 171.21, or 1.04%, to 16,245.37, the Nasdaq was down 110.39, or 2.45%, to 4,399.17, and the S&P 500 was down 27.10, or 1.41%, to 1,888.35.
10:31 EDTVRTXVertex complete response letter a minor setback, says Leerink
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10:21 EDTVRTXVertex selloff more than accounts for Kalydeco news, says Piper Jaffray
Piper Jaffray analyst Edward Tenthoff said the "dramatic" selloff in Vertex after the FDA said that it cannot currently approve a label expansion for Kalydeco in children with residual function mutations more than accounts for the missed revenue opportunity. The analyst keeps on Overweight rating on Vertex shares, citing the upcoming launch of Orkambi in the U.S. and expectations for the company to return to sustainable profitability. Vertex shares are down 2.5% in early trading to $89.47.
09:37 EDTJNJActive equity options trading on open
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09:34 EDTGRMNGarmin estimates lowered at Cleveland Research
Cleveland Research lowered Garmin's 2016 revenue estimates to down 3% year-over-year, versus consensus of a decline of 1%, due to increased concerns regarding competition and a worsening outlook.
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