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Stock Market & Financial Investment News

News Breaks
September 25, 2012
16:21 EDTCAT, TSLA, RIMM, MTN, KEG, MACKOn The Fly: Closing Wrap
Stocks on Wall Street were lower as unrest in Spain brought the difficult fiscal challenges facing Europe back into the spotlight. Stocks opened slightly higher as the market was helped in part by better than expected consumer confidence and home price data. With little else for investors to key on domestically, the averages weakened in the afternoon, as European headlines again drove concern... ECONOMIC EVENTS: Domestically, the S&P/Case-Shiller 20-city home prices index for July indicated that prices rose 1.2%, beating expectations. The consumer confidence reading for September rose to 70.3 and the FHFA home prices index for July was up 0.2%. In Europe, protesters in Spain took to the streets to voice their displeasure with further austerity measures. Also, Germany's Jorg Asmussen, an executive board member of the European Central Bank, said any additional Greek financing needs to come from EU member states and not the ECB... COMPANY NEWS: After lowering its 2015 guidance late Monday, shares of Caterpillar (CAT) were down $3.86, or 4.25%, to $87.01... Tesla Motors (TSLA) shares fell $3.00, or 9.78%, to $27.66 after the company reduced its second half of 2012 Model S delivery guidance and cut its revenue outlook for the year... MAJOR MOVERS: Among the notable gainers were Research in Motion (RIMM), up 30c, or 4.68%, to $6.60 after saying BlackBerry subscribers now total 80M during a company hosted conference, and Vail Resorts (MTN), up $4.37, or 8.29%, to $57.10 after its quarterly revenues beat expectations and its losses were not as steep as forecast. Noteworthy losers included Key Energy (KEG), down $1.02, or 12.52%, to $7.13 after lowering its Q3 expectations, and Merrimack (MACK), down $1.85, or 16.91%, to $9.09 as an IPO lockup period expired today for the shares... INDICES: The Dow lost 101.37, or 0.75%, to 13,457.55; the Nasdaq fell 43.05, or 1.36%, to 3,117.73; and the S&P 500 declined 15.30, or 1.05%, to 1,441.59.
News For CAT;TSLA;RIMM;MTN;KEG;MACK From The Last 14 Days
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August 13, 2014
16:02 EDTTSLATesla initiated with an Outperform at Credit Suisse
Target $325.
16:00 EDTTSLAOptions Update; August 13, 2014
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09:37 EDTTSLAActive equity options trading on open
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August 12, 2014
16:00 EDTTSLAOptions Update; August 12, 2014
iPath S&P 500 VIX Short-Term Futures down 20c to 31.65. Option volume leaders: AAPL MNKD TWTR TSLA KMI KATE MGM NFLX KO according to Track Data.
09:35 EDTTSLAActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL GOOG C TSL EXAS BAC DNDN JNJ TSLA
06:35 EDTTSLATesla's Model S 'has more than its share of problems,' Consumer Reports says
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August 11, 2014
16:00 EDTTSLAOptions Update; August 11, 2014
iPath S&P 500 VIX Short-Term Futures down 1.33 to 31.90. Option volume leaders: AAPL KMI MNKD PBR AMZN SCTY TWTR TSLA according to Track Data.
15:23 EDTTSLAJPMorgan to hold a conference
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13:49 EDTMACKMerrimack likely to sign MM-398 deal in near-term, says Brean Capital
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12:25 EDTTSLAOn The Fly: Midday Wrap
Stocks on Wall Street opened in positive territory and have remained there throughout the morning. There was little in the way of a catalyst, as the economic calendar was empty, though investors may have been encouraged that there was no breakdown in the ceasefire agreement between Israel and Gaza and no big headlines from the Russia/Ukraine border. Additionally, some may have viewed comments from Fed Vice Chair Fischer as dovish and in support of continued easing. ECONOMIC EVENTS: In the U.S., no significant economic data was released. In prepared comments for a conference, Federal Reserve Vice Chairman Stanley Fischer said rebounds across advanced economies have been disappointing, leading the Fed and other observers to lower their long-term expectations for growth potential in the U.S. COMPANY NEWS: Shares of Kinder Morgan (KMI) advanced 10% after announcing it will consolidate its oil-and-gas holdings into one company by acquiring all of the outstanding shares of a number of its subsidiaries, including Kinder Morgan Energy Partners (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB). In addition to the rise in the shares of the parent, Kinder Morgan Energy shares rose 19%, Kinder Morgan Management gained 25% and El Paso Pipeline moved up 22%. MAJOR MOVERS: Among the notable gainers was salad and banana producer Chiquita Brands (CQB), which jumped 31% to trade above $13 per share after Cutrale Group and the Safra Group proposed to acquire 100% of the company's outstanding stock for $13 in cash each. Also higher was electric car maker Tesla (TSLA), which rose 5% after Deutsche Bank upgraded the stock to Buy from Hold and raised its price target on the shares to $310 from $220. Among the noteworthy losers was social game maker King Digital (KING), which slid 3% after the stock was downgraded at Pacific Crest to Sector Perform from Outperform. Also lower following their earnings reports were Inovio (INO), which fell over 8%, and Gogo (GOGO), which dropped nearly 6%. INDEXES: Near midday, the Dow was up 51.25, or 0.31%, to 16,605.18, the Nasdaq was up 38.19, or 0.87%, to 4,409.08, and the S&P 500 was up 10.12, or 0.52%, to 1,941.71.
11:52 EDTTSLATesla advances following Deutsche Bank upgrade
Shares of electric car maker Tesla (TSLA) are rising after Deutsche Bank upgraded the stock to Buy from Hold and raised its price target on the shares to $310 from $220. WHAT'S NEW: This morning, Deutsche Bank analyst Rod Lache upgraded Tesla, citing guidance issued by the company on its second quarter earnings conference call. On the call, Tesla's management indicated that its growth trajectory will be steeper, its product mix much richer, and its costs significantly lower than previously thought. Lache increased his growth forecasts as a result, taking up his FY15-FY17 volume estimates to 60,000, 100,000, and 129,000 units from previous views of 51,000, 60,000, and 83,000 units, respectively. The analyst added that even these forecasts may prove conservative since Tesla expects to end 2014 and 2015 with 50,000 and 100,000 units of capacity. The firm sees a clear path to 500,000 units of annual production by the end of the decade and expects growth to continue as Tesla continues to seek additional production capacity. In terms of product mix, Deutsche expects Tesla sales to gravitate more towards the Model S and X versus the Model 3, thus increasing their profitability. In addition, Tesla is targeting battery pack costs of $150/kWh by late 2017 versus about $250/kWh today, and they see costs falling below $100/kWh within ten years. If achieved, these levels could provide an outright cost advantage for Tesla's electric vehicles compared to their gas operated competitors. WHAT'S NOTABLE: Based on the improved outlook, the analyst now expects EPS in the $27 range by 2020, up from his prior view of $20. Lache raised his 12-month price target on the shares to $310 from $220. PRICE ACTION: In late morning trading, Tesla rose $12.54, or 5%, to $260.67. Including today's advance, the stock is up approximately 70% over the past 12 months.
10:19 EDTTSLAOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Achillion (ACHN) upgraded to Outperform from Market Perform at Wells Fargo... Alon USA Partners (ALDW) upgraded to Outperform from Neutral at Credit Suisse... Buenaventura (BVN) upgraded to Buy from Underperform at BofA/Merrill... CNO Financial (CNO) upgraded to Overweight from Equal Weight at Morgan Stanley... Central European Media (CETV) upgraded to Neutral from Sell at Goldman... Cepheid (CPHD) upgraded to Neutral from Cautious at ISI Group... Chuy's (CHUY) upgraded to Outperform from Market Perform at Raymond James... Compressco (GSJK) upgraded to Strong Buy from Market Perform at Raymond James... Concho Resources (CXO) upgraded to Overweight from Equal Weight at Stephens... Frank's International (FI) upgraded to Neutral from Sell at Goldman... Freeport McMoRan (FCX) upgraded to Buy from Hold at Argus... GNC Holdings (GNC) upgraded to Outperform from Neutral at Credit Suisse... Genworth (GNW) upgraded to Equal Weight from Underweight at Morgan Stanley... Gulfport Energy (GPOR) upgraded at Stifel... Huntington Ingalls (HII) upgraded to Buy from Neutral at UBS... Hyatt Hotels (H) upgraded at Stifel... J.C. Penney (JCP) upgraded to Hold from Sell at Craig-Hallum... Kinder Morgan (KMI) upgraded to Buy from Neutral at BofA/Merrill... Krispy Kreme (KKD) upgraded to Outperform from Neutral at Wedbush... Oasis Petroleum (OAS) upgraded to Buy from Neutral at Sterne Agee... PepsiCo (PEP) upgraded to Buy from Neutral at UBS... Regency Centers (REG) upgraded to Neutral from Underperform at BofA/Merrill... SandRidge Energy (SD) upgraded to Reduce from Sell at KLR Group... Southwest Gas (SWX) upgraded to Buy from Hold at Brean Capital... Tesla (TSLA) upgraded to Buy from Hold at Deutsche Bank.
09:36 EDTTSLAActive equity options trading on open
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09:06 EDTTSLAOn The Fly: Pre-market Movers
HIGHER: PharmAthene (PIP), up 55% after announcing that a Delaware court awarded the company lump sum expectation damages for the value of its lost profits for SIGA Technologies' (SIGA) smallpox antiviral, Tecovirimat... MannKind (MNKD), up 19% after entering exclusive licensing agreement for development and commercialization of Afrezza inhaled insulin with Sanofi (SNY)... Kinder Morgan (KMI), up 19% after announcing it will acquire all of the outstanding equity securities of Kinder Morgan Energy Partners (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB)... Tesla (TSLA), up 2.7% following upgrade at Deutsche Bank... Achillion (ACHN), up 6% following upgrades at Wells Fargo and at Piper Jaffray... PepsiCo (PEP), up 0.9% following upgrade at UBS. LOWER: Dean Foods (DF), down 8.6% after reporting Q2 losses that were steeper than expected, saying balance of year "appears rocky," which makes it difficult to provide guidance beyond the immediate quarter... Priceline (PCLN), down 0.7% after reporting Q2 revenue that missed expectations, guiding Q3 EPS below consensus... SIGA Technologies, down 31% after ruling in suit with PharmAthene... 2U (TWOU), down 4.3% after downgraded at Goldman.
07:20 EDTMACKMerrimack initiates HERMIONE trial of MM-302
Merrimack Pharmaceuticals announced the initiation of a global, open-label, randomized Phase 2 trial of MM-302, a HER2-targeted nanoliposomal encapsulation of doxorubicin, in combination with trastuzumab in patients with HER2-positive locally advanced or metastatic breast cancer. The trial was designed with input from the FDA to support a potential accelerated approval application.
07:19 EDTMACKMerrimack sees existing unrestricted cash to fund operations into FY15
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07:15 EDTMACKMerrimack reports Q2 EPS (17c), consensus (30c)
06:38 EDTTSLATesla upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded its rating on Tesla (TSLA) shares to Buy saying it expects the electric car maker to be much more profitable than previously thought following comments on the company's Q2 earnings call. Deutsche now thinks Tesla can produce 500,000 units of annual production by late this decade. It raised its price target for the stock to $310 from $220. Shares of Tesla closed Friday down $2.46 to $248.13.
August 8, 2014
16:00 EDTTSLAOptions Update; August 8, 2014
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09:37 EDTTSLAActive equity options trading on open
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