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Stock Market & Financial Investment News

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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10:23 EDTGRMNRumor: Garmin strength attributed to takeover speculation
Shares of Garmin (GRMN) are moving higher on speculation Honeywell (HON) has approached the company.
10:00 EDTPBROn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Beacon Roofing (BECN) downgraded to Hold from Buy at KeyBanc... BlackBerry (BBRY) downgraded to Underweight from Equal Weight at Morgan Stanley... Consolidated Edison (ED) downgraded to Sell from Neutral at UBS... Denbury Resources (DNR) downgraded to Hold from Buy at Wunderlich... Synchronoss (SNCR) downgraded to Underperform from Neutral at RW Baird... Total System (TSS) downgraded to Sell from Neutral at Goldman... Movado (MOV) downgraded to Market Perform from Outperform at Barrington... Transocean Partners (RIGP) downgraded to Market Perform from Outperform at Wells Fargo... Seadrill Partners (SDLP) downgraded to Market Perform from Outperform at Wells Fargo... Petrobras (PBR) downgraded to Neutral from Buy at UBS.
09:39 EDTPBRActive equity options trading on open
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09:04 EDTJNJJohnson & Johnson submits NDA for three-month paliperidone palmitate
Janssen Research & Development, a Johnson & Johnson company, announced the submission of a New Drug Application, or NDA, for three-month atypical antipsychotic paliperidone palmitate to the FDA. The NDA seeks approval for the medication as a treatment for schizophrenia in adults. If approved, it will be the first and only long-acting atypical antipsychotic that has a four times a year dosing schedule.
08:49 EDTPBRPetrobras downgraded to Neutral from Buy at UBS
07:52 EDTBMY, VRTXInforma Business Information to hold a conference
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07:27 EDTVRTXRoyalty Pharma acquires royalties on Vertex Pharmaceuticals CF treatments
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06:30 EDTJNJJohnson & Johnson, Boston Scientific trial set to start tomorrow, Reuters says
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06:07 EDTBMYBristol-Myers' Opdivo for melanoma shows positive Phase 3 results
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November 18, 2014
16:00 EDTPBROptions Update; November 18, 2014
iPath S&P 500 VIX Short-Term Futures down 48c to 28.09. Option volume leaders: AAPL TSLA TWTR KO PBR GILD according to Track Data.
10:20 EDTJCPOptions with decreasing implied volatility
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November 17, 2014
16:00 EDTPBROptions Update; November 17, 2014
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14:21 EDTJCPEarnings Preview: Home Depot shares up over 17% since last earnings report
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12:03 EDTJCPOptions with decreasing implied volatility
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11:06 EDTBMYLeerink biotech analysts hold an analyst/industry conference call
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09:36 EDTPBRActive equity options trading
Active equity options trading according to Track Data: AAPL PBR BHI GILD MU HD AMZN TSLA YHOO FB TWTR
08:47 EDTHESWilliams says Gulfstar One placed into service
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08:43 EDTHESChevron confirms first oil production from Tubular Bells in Gulf of Mexico
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08:36 EDTHESHess Corp. announces first production from Tubular Bells Field
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08:13 EDTBMYPortola, Bristol-Myers, Pfizer announce results from Phase 3 ANNEXA-A studies
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08:10 EDTBMYBristol-Myers presents results from Phase IIIb AVERT trial at ACR
Bristol-Myers Squibb Company announced results of several new sub-analyses of the Phase IIIb AVERT trial that investigated the use of Orencia plus methotrexate in biologic and MTX-naïve citrullinated protein-positive early moderate to severe rheumatoid arthritis patients. These data were presented this week at the American College of Rheumatology 2014 annual meeting. Orencia is currently indicated in adults for moderate to severe RA. Orencia should not be administered with tumor necrosis factor antagonists and should not be used with other biologic RA drugs. One of the analyses looked at anti-CCP antibodies, which are a marker of RA and may contribute to disease progression. The analysis assessed the development of anti-CCP antibodies in patients with early rapidly progressing RA by measuring isotypes and the number of epitopes recognized after treatment with Orencia plus MTX, Orencia alone, or MTX alone. Results demonstrated Orencia plus MTX numerically reduced the concentrations of all CCP isotypes and the average number of epitopes recognized over one year of treatment more than Orencia alone or MTX alone. Over 12 months of treatment, 6.7 percent, 12.1 percent, and 7.8 percent of patients on Orencia plus MTX, Orencia alone, and MTX alone, respectively, experienced a serious adverse event and 1.7 percent, 4.3 percent and 2.6 percent led to discontinuation. Serious infections were observed in 0.8 percent of patients in the combination arm and 3.4 percent in the Orencia monotherapy arm. None of the patients in the MTX alone arm experienced a serious infection. Malignancies were reported in 0.8 percent, 1.7 percent, and 0 percent of patients in the Orencia + MTX, Orencia, and MTX arms, respectively. Additionally at ACR, investigators presented 12-month efficacy data from AVERT, including new results assessing the effect of Orencia on more clinically stringent remission criteria than DAS-defined remission, as well as new MRI data. Significantly more patients on Orencia plus MTX achieved the stringent clinical endpoint of Boolean-defined remission at 12 months.
07:16 EDTJNJMilken Institute--Faster Cures to hold a conference
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November 16, 2014
18:05 EDTPBRPetrobras probe expands as authorities in Brazil arrest 18 people, WSJ says
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13:07 EDTBMYBristol-Myers announces results from CheckMate -066 study
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November 14, 2014
18:05 EDTHESRelational Investors gives quarterly update on stakes
NEW STAKES: None. INCREASED STAKES: None. DECREASED STAKES: Mondelez (MDLZ), Manitowoc (MTW), Clean Harbors (CLH), and Hologic (HOLX). LIQUIDATED STAKES: Ingersoll-Rand (IR), B/E Aerospace (BEAV), Timken (TKR), Hess (HES), and NXP Semiconductors (NXPI).
16:21 EDTJNJOn The Fly: Closing Wrap
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16:01 EDTPBROptions Update; November 14, 2014
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14:53 EDTJNJ, BMYCVS Express Scripts implementing drug price controls, says Cleveland Research
Cleveland Research believes that CVS (CVS) and Express scripts are implementing rebates and price controls on drug. The firm expects the companies to increase their focus on controlling durg prices next year, and adds that they have already itnroduced prior authorization criteria for hepatitis drug. Publicly traded drug companies 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). Makers of hepatits c drugs include AbbVie (ABBV) and Gilead (GILD),
09:38 EDTPBRActive equity options trading
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07:40 EDTPBRPetrobras overall volatility at 47 into Q3 and outlook
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07:14 EDTBMYAmerican College of Rheumatology is holding a meeting
2014 ACR/ARHP Annual Meeting is being held in Boston on November 14-19.
06:05 EDTBMYBristol-Myers to construct biologics manufacturing facility in Ireland
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November 13, 2014
18:48 EDTPBRPetrobras to delay Q3 earnings release, Bloomberg reports
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17:26 EDTPBRPetrobras to delay Q3 earnings release, cites probes, Bloomberg reports
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16:28 EDTJNJGeron announces global strategic collaboration with Janssen Biotech
Geron (GERN) announced that the company has entered into an exclusive worldwide license and collaboration agreement with Janssen Biotech, a Johnson & Johnson (JNJ) company, to develop and commercialize, imetelstat, Geron's telomerase inhibitor product candidate, for oncology, including hematologic malignancies, and other human therapeutics uses. Imetelstat is a modified oligonucleotide that is currently in early phase clinical development for myelofibrosis, or MF, and may have activity in other hematologic myeloid malignancies such as myelodysplastic syndrome, or MDS, and acute myelogenous leukemia, or AML. Under the terms of the agreement, Geron will receive an initial payment of $35M due after the applicable waiting periods under the Hart-Scott Rodino Act and is eligible to receive additional payments up to a potential total of $900M for the achievement of development, regulatory and commercial milestones, as well as royalties on worldwide net sales. Certain regulatory, development, manufacturing and promotional activities will be managed through a joint governance structure, with Janssen responsible for operational implementation of these activities. All sales will be booked by Janssen.
13:32 EDTBMYLeerink biotech analysts hold an analyst/industry conference call
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13:29 EDTBMYLeerink biotech analysts hold an analyst/industry conference call
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13:26 EDTBMYLeerink biotech analysts hold an analyst/industry conference call
Biotech Analysts provide a preview of items being discussed at the upcoming 56th Annual Meeting of ASH including Leukemia/MDS on an Analyst/Industry conference call to be held on November 20 at 10 am.
11:54 EDTJNJJanssen announces FDA approved sNDA for INVEGA SUSTENNA
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11:06 EDTPBRStocks with call strike movement; BABA PBR
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10:44 EDTJNJMallinckrodt news on generic Concerta positive for Actavis, says BMO Capital
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10:04 EDTPBRGE opens $500M Brazil Technology Center
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10:01 EDTBMYOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ATK (ATK) downgraded to Hold from Buy at Argus... Adeptus Health (ADPT) downgraded to Hold from Buy at Deutsche Bank... American Woodmark (AMWD) downgraded to Neutral from Buy at Longbow... Avnet (AVT) downgraded to Sell from Neutral at Goldman... Baxano Surgical (BAXS) downgraded to Sell from Buy at Summer Street... Beazer Homes (BZH) downgraded to Neutral from Overweight at JPMorgan... Bristol-Myers (BMY) downgraded to Equal Weight from Overweight at Morgan Stanley... Centene (CNC) downgraded to Market Perform from Outperform at FBR Capital... Cherry Hill Mortgage (CHMI) downgraded to Equal Weight from Overweight at Barclays... Discover (DFS) downgraded to Hold from Buy at Deutsche Bank... Fleetmatics (FLTX) downgraded to Neutral from Buy at BofA/Merrill... Gazprom (OGZPY) downgraded to Neutral from Overweight at JPMorgan... Jabil Circuit (JBL) downgraded to Neutral from Buy at Goldman... LabCorp (LH) downgraded to Hold from Buy at Deutsche Bank... Laredo Petroleum (LPI) downgraded at BMO Capital... Macy's (M) downgraded to Market Perform from Outperform at Wells Fargo... Madison Square Garden (MSG) downgraded to Equal Weight from Overweight at Morgan Stanley... Marvell (MRVL) downgraded to Sell from Neutral at Goldman... Meritor (MTOR) downgraded to Neutral from Overweight at Piper Jaffray... Swedbank (SWDBY) downgraded to Underperform from Sector Perform at RBC Capital... TransGlobe (TGA) downgraded to Sector Perform from Outperform at Scotia Capital... UIL Holdings (UIL) downgraded to Hold from Buy at Argus... Verint Systems (VRNT) downgraded to Fair Value from Buy at CRT Capital... ZAIS Financial (ZFC) downgraded to Equal Weight from Overweight at Barclays.
09:40 EDTJCPActive equity options trading
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07:20 EDTJCPJ.C. Penney price target lowered to $7 from $9 at JPMorgan
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06:47 EDTJCPJ.C. Penney Q4 comp guidance likely conservative, says Piper Jaffray
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06:09 EDTBMYBristol-Myers' oral daclatasvir regimen shows high cure rates for hepatitis C
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06:05 EDTBMYBristol-Myers' daclatasvir reports high cure rates for genotype 3 hepatitis C
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04:23 EDTBMYBristol-Myers downgraded to Equal Weight from Overweight at Morgan Stanley
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November 12, 2014
20:11 EDTKRCKilroy Realty to hold an analyst and investor event
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18:29 EDTJCPOn The Fly: After Hours Movers
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16:53 EDTJCPJ.C. Penney pleased with business so far in Novemeber against last years comps
16:40 EDTJCPJ.C. Penney says saw slowdown in September and October
Comments from Q3 earnings conference call.
16:20 EDTJCPJ.C. Penney expects to be free cash flow positive for 2014
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16:11 EDTJCPJ.C. Penney lower by almost 3% to $7.55 after Q3 financial report
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16:09 EDTJCPJ.C. Penney reports Q3 gross margin 36.6%
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16:08 EDTJCPJ.C. Penney sees 2014 SSS 3.5 % to 4.5 %
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16:06 EDTJCPJ.C. Penney sees Q4 SSS to increase 2 %-4 %
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16:05 EDTJCPJ.C. Penney reports Q3 EPS (77c), consensus (80c)
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15:29 EDTJCPNotable companies reporting after market close
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13:32 EDTJCPEarnings Preview: J.C. Penney lowered Q3 SSS view, affirms FY14 metrics in Q3
J.C. Penney (JCP) is scheduled to report third quarter earnings after the market close on Wednesday, November 12, with a conference call scheduled for 4:30 pm ET. J.C. Penney operates about 1,100 retail stores and jcp.com. EXPECTATIONS: Analysts are looking for a loss per share of (80c) on revenue of $2.81B, according to First Call. The consensus range for EPS is (95c)-(54c) on revenue of $2.72B-$2.93B. LAST QUARTER: J.C. Penney reported second quarter adjusted EPS of (75c) against estimates for (93c), on revenue of $2.8B against estimates for $2.79B. Comparable store sales increased 6% for the quarter and online sales through jcp.com were up 16.7% from the year-ago period to $249M. On its Q2 earnings conference call, the company said that expected a "profitable" sales in the back-to-school season, adding that the company could see some "anomalies" in expense during Q3. NEWS: During the quarter, J.C. Penney announced the appointment of Marvin Ellison, EVP of stores at Home Depot (HD), as president and CEO-Designee, effective November 1. Ellison will also join the board, and succeed Myron E. Ullman, III as CEO of the company on August 1, 2015, at which time Ullman will become executive chairman of the board for a period of one year. At its analyst day in October, the retailer lowered its Q3 SSS view to low single digit growth from its previous view of mid single digit growth. J.C. Penney also warned investors that its September sales were weaker than expected. Despite lowering its SSS forecast, the retailer reaffirmed the rest of its quarterly guidance, including gross margins and SG&A expenses, and maintained all of its fiscal year 2014 guidance metrics, including mid-single digit SSS growth and positive free cash flow. STREET RESEARCH: Cleveland Research said J.C. Penney's challenging sales trends continued in October and is positioning to increase promotional activity during the holiday season. Wells Fargo, which has an Underperform rating on the stock, said that Ellison lacks expertise in apparel and accessories, where J.C. Penney is having a tough time. J.C. Penney shares could drop 35% if the company misses on sales growth estimates, Barron's said. PRICE ACTION: Over the last three months, J.C. Penney shares are down almost 20%. In morning trading today ahead of tonight's Q3 report, J. C. Penney's stock is up almost 6% to $7.61.
13:10 EDTJCPJ.C. Penney November weekly 7.5 straddle priced for 11.8% move into Q3
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12:41 EDTSTRAFor-profit education stocks look appealing, analyst says
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11:17 EDTBMYLeerink major pharma & biotech analysts hold analyst/industry conference call
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10:00 EDTVNO, KRCOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Advent Software (ADVS) initiated with a Neutral at BofA/Merrill... Agios Pharmaceuticals (AGIO) initiated with a Buy at Canaccord... Ashford Hospitality (AHT) initiated with a Neutral at Credit Suisse... AvalonBay (AVB) initiated with a Neutral at Credit Suisse... Berkshire Hills Bancorp (BHLB) initiated with a Buy at Compass Point... Boston Properties (BXP) initiated with an Outperform at Credit Suisse... Brandywine Realty (BDN) initiated with a Neutral at Credit Suisse... Brookline Bancorp (BRKL) initiated with a Neutral at Compass Point... CNH Industrial (CNHI) initiated with an Underperform at Macquarie... Camden Property (CPT) initiated with a Neutral at Credit Suisse... Care.com (CRCM) initiated with a Buy at Craig-Hallum... Corporate Office Properties (OFC) initiated with an Underperform at Credit Suisse... DCT Industrial (DCT) initiated with an Underperform at Credit Suisse... DDR Corp. (DDR) initiated with a Neutral at Credit Suisse... Demandware (DWRE) initiated with a Buy at Mizuho... DiamondRock (DRH) initiated with a Neutral at Credit Suisse... Douglas Emmett (DEI) initiated with a Neutral at Credit Suisse... EastGroup Properties (EGP) initiated with an Underperform at Credit Suisse... Equity One (EQY) initiated with a Neutral at Credit Suisse... Equity Residential (EQR) initiated with a Neutral at Credit Suisse... Essex Property Trust (ESS) initiated with a Neutral at Credit Suisse... Forest City (FCE.A) initiated with an Outperform at Credit Suisse... General Growth (GGP) initiated with a Neutral at Credit Suisse... Host Hotels (HST) initiated with a Neutral at Credit Suisse... Hudson Pacific (HPP) initiated with an Outperform at Credit Suisse... Kilroy Realty (KRC) initiated with an Underperform at Credit Suisse... Kimco Realty (KIM) initiated with an Outperform at Credit Suisse... LaSalle Hotel (LHO) initiated with an Outperform at Credit Suisse... Macerich (MAC) initiated with a Neutral at Credit Suisse... MasterCard (MA) initiated with a Hold at Topeka... NetApp (NTAP) initiated with a Buy at Maxim... Pebblebrook Hotel (PEB) initiated with an Outperform at Credit Suisse... Prologis (PLD) initiated with an Outperform at Credit Suisse... RLJ Lodging Trust (RLJ) initiated with an Outperform at Credit Suisse... Regency Centers (REG) initiated with a Neutral at Credit Suisse... Ryerson (RYI) initiated with a Buy at Deutsche Bank... SL Green Realty (SLG) initiated with an Underperform at Credit Suisse... Simon Property (SPG) initiated with an Outperform at Credit Suisse... Strategic Hotels (BEE) initiated with a Neutral at Credit Suisse... Sunstone Hotel (SHO) initiated with an Outperform at Credit Suisse... Taubman Centers (TCO) initiated with an Outperform at Credit Suisse... UDR, Inc. (UDR) initiated with a Neutral at Credit Suisse... VWR (VWR) initiated with a Neutral at Citigroup... VeriFone (PAY) initiated with a Buy at Topeka... Visa (V) initiated with a Hold at Topeka... Vornado (VNO) initiated with a Neutral at Credit Suisse... Westfield Financial (WFD) initiated with a Buy at Compass Point... XPO Logistics (XPO) initiated with an Outperform at Cowen.
09:54 EDTCATCaterpillar reaffirms 2014 EPS outlook about $6.50, consensus $6.56
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07:53 EDTNKTRLeerink to hold a tour
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07:31 EDTHESBofA/Merrill to hold a conference
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07:22 EDTSTRAPiper says time to increase exposure to Education sector
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November 11, 2014
16:14 EDTBMYLeerink biotech analysts hold an analyst/industry conference call
Biotech Analysts provide a preview of items being discussed at the upcoming 56th Annual Meeting of ASH including JAK inhibitors, novel Jakafi combinations for Myelofibrosis and developing compounds on an Analyst/Industry conference call to be held on November 17 at 10 am.
16:13 EDTKRCKilroy Realty initiated with an Underperform at Credit Suisse
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16:12 EDTVNOVornado initiated with a Neutral at Credit Suisse
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15:43 EDTBMYLeerink major pharma & biotech analysts hold analyst/industry conference call
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09:37 EDTPBRActive equity options trading
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09:02 EDTJCPJ.C. Penney's challenging sales trends continue, says Cleveland Research
Cleveland Research said J.C. Penney's challenging sales trends continued in October and is positioning to increase promotional activity during the holiday season. Shares are Neutral rated.
November 10, 2014
16:00 EDTPBROptions Update; November 10, 2014
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15:53 EDTBMYCredit Suisse to hold a conference
Healthcare Conference is being held in Scottsdale, Arizona on November 10-13 with webcasted company presentations to begin on November 11 at 10:30 am; not all company presentations may be webcasted. Webcast Link
13:05 EDTJCPJ.C. Penney November volatility elevated into Q3 and holiday outlook
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13:00 EDTHESHess Corp. increases five-year production growth rate forecast
Hess Corporation will review its growth strategy and provide a detailed update on its portfolio at an Investor Day in Houston. CEO John Hess, COO Greg Hill and other members of the leadership team will outline plans and targets that underpin the company’s strategy and commitment to deliver value to shareholders. The company is increasing its five-year production growth rate forecast to 6%-10% compounded annually from 2013 through 2018 between $90 and $100 Brent. With the success of its 2014 downspacing pilots confirmed, the company is increasing its Bakken net peak production guidance to approximately 175,000 barrels of oil equivalent per day by 2020; adding an additional 1,000 well locations to a total of more than 4,000; and increasing its net estimated ultimate recovery to more than 1.4 BBOE. Utica’s net peak production is forecast to reach approximately 40,000 BOEPD by 2020, with approximately 500 well locations and a net EUR of more than 300 MMBOE. This is the first time the company is providing guidance for this asset. Significant production growth and free cash generation are forecast from Hess’ offshore assets, particularly in the deepwater Gulf of Mexico with the Stampede field sanctioned in October for first oil in 2018 and production startup underway at Tubular Bells.
12:36 EDTJCPAbercrombie, American Eagle sink after analyst downgrades
Shares of specialty teen apparel retailers Abercrombie & Fitch (ANF) and American Eagle Outfitters (AEO) are falling after a number of analysts issued negative notes on the companies. WHAT'S NEW: Oppenheimer analyst Anna Andreeva downgraded Abercrombie & Fitch to Perform from Outperform. The company's earnings outlook has become less clear as its U.S. brand has not yet become popular, and retail brand turnarounds usually take awhile, Oppenheimer analyst Anna Andreeva wrote in a note to investors. Additionally, Abercrombie's international business, which has deteriorated further this year, faces "mounting uncertainty,” the analyst stated. The analyst slashed her price target on the name to $30 from $50. Meanwhile, Barclays analyst Matthew McClintock downgraded American Eagle Outfitters to Equal Weight from Overweight. McClintock has become more pessimistic about the outlook for American Eagle's comparative store sales in the second half of 2014, given recent data points from a number of retailers, including Abercrombie & Fitch, Kohl's (KSS), Wal-Mart (WMT), J.C. Penney (JCP), and Ann Inc. (ANN). The analyst said he saw no reason why American Eagle should significantly outperform the overall apparel sector. McClintock cut his price target on the name to $11 from $15. Meanwhile, the analyst lowered his rating on the Softline Retail sector to Negative from Positive, as he believes that the sector, which includes companies that sell products like apparel, towels, and jewelry - is facing structural difficulties that are likely to persist for the next several years. Separately, research firm Janney Capital downgraded Abercrombie to Neutral from Buy in a note to investors today. PRICE ACTION: In early afternoon trading, Abercrombie & Fitch sank 3.5% to $28.50 and American Eagle dropped 4% to $12.40.
10:04 EDTPBROn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abercrombie & Fitch (ANF) downgraded at Oppenheimer... American Eagle (AEO) downgraded to Neutral from Buy at B. Riley... BP (BP) downgraded to Neutral from Overweight at JPMorgan... Callon Petroleum (CPE) downgraded to Neutral from Buy at SunTrust... EP Energy (EPE) downgraded to Hold from Buy at Deutsche Bank... Eaton Vance (EV) downgraded at Sterne Agee... Ecopetrol (EC) downgraded to Underperform from Sector Perform at RBC Capital... General Mills (GIS) downgraded to Sector Perform from Outperform at RBC Capital... Genworth (GNW) downgraded to Market Perform from Outperform at Keefe Bruyette... MasTec (MTZ) downgraded to Hold from Buy at BB&T... Ocean Rig UDW (ORIG) downgraded to Neutral from Buy at Guggenheim... Performant Financial (PFMT) downgraded at Morgan Stanley... Petrobras (PBR) downgraded to Market Perform from Outperform at Cowen... R.R. Donnelley (RRD) downgraded to Hold from Buy at Benchmark Co.... Rex Energy (REXX) downgraded to Market Perform from Outperform at BMO Capital... Salix (SLXP) downgraded to Neutral from Buy at Mizuho... Siemens (SIEGY) downgraded to Neutral from Overweight at JPMorgan... Solazyme (SZYM) downgraded to Equal Weight from Overweight at Morgan Stanley... Stonegate Mortgage (SGM) downgraded to Market Perform at FBR Capital... Syngenta (SYT) downgraded to Neutral from Overweight at HSBC... ViaSat (VSAT) downgraded to Hold from Buy at Needham... Vistaprint (VPRT) downgraded to Neutral from Buy at SunTrust... Walter Investment (WAC) downgraded at Sterne Agee... WesBanco (WSBC) downgraded to Market Perform from Outperform at Keefe Bruyette... Whiting USA Trust II (WHZ) downgraded to Underperform at Raymond James... Wipro (WIT) downgraded to Sell from Buy at UBS... XOMA (XOMA) downgraded to Neutral from Buy at Ladenburg... Yanzhou Coal (YZC) downgraded to Sell from Hold at Deutsche Bank.
09:20 EDTJCPOn The Fly: Pre-market Movers
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November 9, 2014
19:12 EDTPBRPetrobras being probed by U.S. authorities, FT says
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11:45 EDTBMYBristol-Myers announces data from the UNITY trial program
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November 8, 2014
20:20 EDTJCPJ.C. Penney could drop 35%, Barron's says
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