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Stock Market & Financial Investment News

News Breaks
November 12, 2012
10:00 EDTHES, VNO, NKTR, JCP, CAT, PBR, VRTX, KRC, GRMN, BMY, STRA, JNJ, IQNTOn 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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January 30, 2015
16:28 EDTCATMarket finishes week lower as earnings, GDP miss drag down stocks
Stocks ended the week lower as several major companies reported weaker than expected results or gave disappointing guidance and a number of U.S. economic data points came in below the consensus outlook. MACRO NEWS: The Federal Reserve reiterated that it would exercise patience in deciding when to raise interest rates. The central bank added that economic growth was expanding at a "solid" pace... U.S. economic data was mixed, as Q4 GDP growth, durable goods orders for December, and pending home sales came in below expectations, but weekly jobless claims and new home sales for December beat expectations... In Europe, the annual cost of living in the euro zone currency bloc fell 0.6% in January, versus analysts' forecast for a fall of 0.5%. However, the bloc's unemployment rate inched down to 11.4% in December from 11.5% in November. Analysts had expected the unemployment rate to remain unchanged. COMPANY NEWS: Apple's (AAPL) shares rose after the company reported record results, beating analysts' expectations. The company sold 74.5M iPhones last quarter, a figure that also beat the consensus outlook... Visa (V), Boeing (BA), Amazon.com (AMZN), Google (GOOG), and video game maker Electronic Arts (EA) were among the companies that rose following their earnings reports. Facebook (FB) reported stronger than expected results but its stock was little changed on the week... Microsoft (MSFT), Caterpillar (CAT), Qualcomm (QCOM), Alibaba (BABA), DuPont (DD), and 3M (MMM) fell after reporting their results... Yahoo (YHOO) announced that it plans to spin off its stake in Alibaba later this year in a tax-free transaction. The announcement led to speculation that Yahoo could become a takeover target... McDonald's (MCD) announced that its CEO, Don Thompson, would step down and be replaced by its current Chief Brand Officer, Steve Easterbrook. Its stock reacted favorably to the executive change... Qualcomm (QCOM) cut its fiscal 2015 guidance and announced that its Snapdragon 810 processor will not be in the upcoming design cycle of a large customer's flagship device. A number of analysts and media outlets said that Samsung was the company to which Qualcomm was referring. INDEXES: For the week, the Dow is down 2.83% to 17,164.95, the Nasdaq is down 2.56% to 4,635.24, and the S&P is down 2.77% to 1,994.99.
09:26 EDTPBROn The Fly: Pre-market Movers
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09:25 EDTPBRPetrobras ratings downgraded by Moody's to Baa3
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07:30 EDTCATCaterpillar, Komatsu, AB Volvo named in antitrust lawsuit, WSJ says
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07:06 EDTPBRExterran awarded contracts in Latin America
Exterran Holdings (EXH) announced that it has signed two agreements related to projects in Bolivia and Brazil. The first, signed on Oct. 31, 2014, is a six-year compression services contract with Petrobras Bolivia S.A. including construction and installation of a compressor station for two fields near Tarija, Bolivia. The project will utilize up to 58,000 horsepower of compression equipment, including approximately 21,000 horsepower of compression equipment sold to Petrobras Bolivia by Exterran and approximately 37,000 horsepower of compression equipment owned by Exterran. Pursuant to the agreement, Exterran will provide and install all of the natural gas compression equipment, deliver engineering, procurement and construction management services, and operate and maintain the equipment. The second contract, signed on Dec. 11, 2014 with Petróleo Brasileiro S.A.(PBR), includes the construction and installation of an amine plant near the Carmopolis Field in Brazil. It will remove carbon dioxide and hydrogen sulfide from streams of approximately 16 million standard cubic feet of natural gas per day. The agreement also includes approximately 4,000 horsepower of compression equipment at three associated locations. Exterran will deliver engineering, procurement and construction management services at the three stations, and also will provide operations and maintenance for gas treatment and compression under a 10-year agreement.
06:45 EDTJNJSome suggest doctors could be using stents too often, NY Times reports
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06:34 EDTVRTXObama to propose $215M for major medical program, CNBC says
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05:14 EDTJNJQuotient, OCD establish exclusive commercial partnership for MosaiQ
Quotient (QTNT) announced that they are entering into a broad strategic collaboration to sell and distribute Quotient's MosaiQ platform within the $2.8B global transfusion diagnostics market. Under the terms of an exclusive Distribution and Supply Agreement, Quotient retains all rights to commercialize MosaiQ in North America, the European Union and certain Asia-Pacific territories, excluding Japan, for the donor testing market, while, Ortho Clinical Diagnostics, or OCD, a full and separate member of the Johnson & Johnson Family of Companies (JNJ), has acquired exclusive rights to sell and distribute MosaiQ for the global patient testing market and the donor testing market in territories not covered by Quotient. Quotient will be responsible for the manufacture of all products associated with MosaiQ and has retained all other commercial rights to MosaiQ with OCD receiving a right of first offer where Quotient decides to commercialize MosaiQ with a third party for an application other than blood grouping. In connection with the transaction, OCD has subscribed for 444,445 new Quotient Ordinary shares at an issue price of $22.50 per new Ordinary share, raising $10M of equity proceeds, and $15M of 7% redeemable preference shares. Following the transaction, OCD will own approximately 2% of Quotient's fully diluted ordinary share capital. Quotient will also be entitled to receive payments totaling $59M upon the achievement of specified regulatory approvals and commercial milestones, which primarily relate to the approval and launch of MosaiQ in the U.S. and the European Union for blood grouping. Quotient and OCD have also agreed to explore opportunities to develop and commercialize MosaiQ in other diagnostics applications outside of blood grouping and serological disease screening, utilizing the combined knowledge and expertise of both parties.
January 29, 2015
17:23 EDTBMYBristol-Myers gets FDA approval for Evotaz to treat HIV-1 infections
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13:28 EDTKRCKilroy Realty sees FY15 core FFO $2.98-$3.18, consensus $3.06
Sees FY15 CapEx $90M, weighted towards the back end of the year. Guidance from Q4 earnings conference call.
13:19 EDTKRCKilroy Realty says plans to sell $250M-$400M of non-core assets in FY15
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11:46 EDTJNJPharmacyclics confirms FDA approval of IMBRUVICA
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10:50 EDTJNJFDA expands use of Imbruvica to rare form of cancer
The FDA expanded the approved use of Imbruvica for previously treated patients with Waldenström’s macroglobulinemia, a rare form of cancer that begins in the body’s immune system. The drug received a breakthrough therapy designation for this use. The product's new use is being approved more than two months ahead of its prescription drug user fee goal date of April 17, the date the FDA was scheduled to complete review of the drug application. Imbruvica is co-marketed by Pharmacyclics (PCYC) and Johnson & Johnson's (JNJ) Janssen Biotech unit.
10:00 EDTVRTX, PBROn The Fly: Analyst Downgrade Summary
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09:16 EDTVRTXVertex downgraded at Maxim
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09:07 EDTVRTXHead researchers of Vertex, Regeneron, Merck invited to White House, CNBC says
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08:14 EDTBMYCelldex, Bristol-Myers initiate Phase 1/2 Varlilumab, Opdivo combination study
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08:08 EDTVRTXVertex downgraded to Hold from Buy at Maxim
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07:58 EDTJNJMedivation price target raised to $128 from $112 at Stifel
After surveying 25 urologists, Stifel believes that MEdivation's (MDVN) Xtandi drug has surpassed its main competitor, Johnson & Johnson's (JNJ) Zytiga, as a treatment of prostate cancer prior to chemotherapy. Stifel keeps a Buy rating on Medivation.
06:58 EDTVRTXVertex downgraded to Hold from Buy at Needham
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