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January 31, 2013
10:17 EDTCLDT, NOG, VELT, NTGR, FB, LVS, HES, STX, KEY, ENDP, RIMM, ZION, RF, FIO, CMAOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Comerica (CMA) downgraded to Underperform from Market Perform at Bernstein... Endo Health (ENDP) downgraded to Perform from Outperform at Oppenheimer... Facebook (FB) downgraded to Hold from Buy at Stifel Nicolaus... Fusion-io (FIO) downgraded to Neutral from Outperform at Credit Suisse... KeyCorp (KEY) downgraded to Underperform from Market Perform at Bernstein... Netgear (NTGR) downgraded to Equal Weight from Overweight at Barclays... Regions Financial (RF) downgraded to Underperform from Market Perform at Bernstein... Seagate (STX) downgraded to Underweight from Equal Weight at Barclays... Velti (VELT) downgraded to Market Perform from Outperform at Wells Fargo... Zions Bancorp (ZION) downgraded to Underperform from Market Perform at Bernstein... Hess Corp. (HES) downgraded to Hold from Buy at Societe Generale... Regions Financial (RF) downgraded to Neutral from Outperform at RW Baird... Northern Oil and Gas (NOG) downgraded to Market Perform from Outperform at BMO Capital... Research in Motion (RIMM) downgraded to Underperform from Neutral at Credit Suisse... Las Vegas Sands (LVS) downgraded to Hold from Buy at Craig-Hallum... Chatham Lodging Trust (CLDT) downgraded to Neutral from Buy at SunTrust.
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November 16, 2015
08:33 EDTLVSScientific Games announces retirement of CFO Scott Schweinfurth
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07:18 EDTLVSDeutsche Bank to hold a conference
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07:16 EDTENDPHayman Capital gives quarterly update on stakes
NEW STAKES: Impax (IPXL), CF Industries (CF), GW Pharmaceuticals (GWPH), ProNAi Therapeutics (DNAI). INCREASED STAKES: BioMarin (BMRN), NMI Holdings (NMIH), Vertex (VRTX), Endo (ENDP). DECREASED STAKES: Mylan (MYL). LIQUIDATED STAKES: Perrigo (PRGO), Oasis Petroleum (OAS), Whiting Petroleum (WLL), Newfield Exploration (NFX), SM Energy (SM).
06:06 EDTENDPEndo downgraded to Neutral from Buy at Mizuho
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November 15, 2015
17:54 EDTFBFacebook to expand use of 'Safety Check' feature in wake of Paris attacks
Facebook announced it will be expanding its use of "Safety Check," a feature allowing users of the social network who live in endangered areas of the world to let friends and family know they are safe. Traditionally limited to natural disasters, the policy change has been made in the wake of the terrorist attacks on Paris, France, during which the company turned on Safety Check for affected users. The move spurred both praise for quick action and criticism for not using the feature during other serious events such as Thursday's tragedy in Beirut, prompting Facebook to reconsider its use of the service. "Each time we have launched the tool, we've improved it... We are learning to make the tool and policies behind it better as we go -- and because Safety Check is a relatively new feature for us, we're still understanding how it can best be used... We talked with our employees on the ground, who felt that there was still a need that we could fill. So we made the decision to try something we've never done before: activating Safety Check for something other than a natural disaster... We want this tool to be available whenever and wherever it can help," explained the company.
November 13, 2015
16:40 EDTRFAppaloosa gives quarterly update on stakes
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16:00 EDTFBOptions Update; November 13, 2015
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11:23 EDTENDPEndo management to meet with RBC Capital
Meeting to be held in Malvern, PA on November 16 hosted by RBC Capital.
10:49 EDTENDPMylan jumps, Perrigo plunges after hostile takeover bid fails
Shares of Mylan (MYL) jumped after the company's offer to acquire Perrigo (PRGO) failed. Perrigo shares fell after the news. WHAT'S NEW: Mylan's approximately $26B hostile takeover offer for Perrigo officially fell through Friday morning, ending a seven-month ordeal between the two companies. Mylan said that only about 40% of Perrigo's shares were tendered by the company's stockholders, falling short of the 50% required for an acquisition, forcing the offer to lapse after failing to meet its goal by the established deadline. In response to the news, Perrigo Chief Executive Officer Joseph Papa said he was "delighted" that his company's shareholders rejected the offer. "We have said all along that this offer from Mylan was a bad deal for our shareholders, as it significantly undervalued our durable business model and industry-leading future growth prospects," Papa said. Perrigo added that it will immediately commence its previously announced $2B share buyback and that it intends to complete $500M of the planned repurchase by the end of the year. WHAT'S NOTABLE: On July 27, Teva (TEVA) withdrew a takeover offer for Mylan amid Mylan's talks with Perrigo. The Israeli pharmaceutical company opted instead to purchase Allergan's (AGN) generics business. Commenting on its failure to buy Perrigo, Mylan Executive Chairman Robert Coury said in a statement that while the company viewed Perrigo as a "unique and exciting company," it was not required for the future success of the company. Coury said, "We are well-positioned to quickly execute on the next strategic, value-enhancing opportunities for our business, some of which we have already identified." STREET RESEARCH: Citi analyst Liav Abraham upgraded Mylan to Buy and raised her price target for shares to $59 from $52, saying that an overhang has been removed since the company's hostile attempt to buy Perrigo has fallen through. Abraham argued that a combination of the two companies would have been both destructive to both earnings and value for Mylan and that the failed bid will increase management's optionality to pursue other value-enhancing opportunities and enable investors to focus on the company's base business. In addition, RBC Capital Markets analyst Randall Stanicky confirmed a Sector Perform rating for both Mylan and Perrigo with price targets of $60 and $176, respectively. Stanicky said he expects Mylan's stock to gain 10%-15% towards $50 as a result of the news, while Perrigo will probably see a pull-back into the low $140s. The analyst added that the removal of the Mylan bid will drive initial weakness for Perrigo's shares but that the stock can settle close to its current levels. PRICE ACTION: In morning trading, Mylan rallied 12.5% to $48.60 and Perrigo fell 6.92% to $145.72. OTHERS TO WATCH: Teva shares trading in New York increased 0.26%, Allergan was up 0.66%, and Endo (ENDP), with which Reuters reported Perrigo held unsuccessful takeover talks, gained 5.56%.
10:00 EDTENDPEndo upgraded to Buy from Hold at Standpoint Research
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09:35 EDTFBActive equity options trading on open
Active equity options trading on open: AAPL CSCO FB BAC BABA MSFT NFLX INTC JCP AMZN C
November 12, 2015
16:41 EDTSTXSeagate announces formation of Seagate Government Solutions
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16:00 EDTFBOptions Update; November 12, 2015
iPath S&P 500 VIX Short-Term Futures up 1.28 to 20.18. Option volume leaders: GE AAPL MNKD XOM BAC FB SUNE CSCO NFLX SYF BABA MSFT
14:00 EDTFBFacebook Messenger testing ephemeral messaging in France, BuzzFeed says
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13:10 EDTFBFacebook selling virtual reality-like video ads, Re/code reports
Facebook will begin publishing 360-degree video content into your NewsFeed that will include 360-degree video ads, reports Re/code. Thursday is the first time that Facebook has rolled out a 360-degree video ad. Reference Link
12:42 EDTENDPPerrigo held unsuccessful talks to acquire Endo, Reuters reports
Perrigo (PRGO) has held unsuccessful talks to acquire Endo (ENDP) in all-stock deal, reports Reuters. According to people familiar with the matter, the talks were advanced enough for major issues such as the role of the Endo's CEO and how the companies could be integrated to have been addressed. Perrigo ended the talks when Endo asked for too much stock for its shareholders. Reference Link
09:36 EDTFBActive equity options trading on open
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08:48 EDTENDPEndo sued over birth control packaging error, CBS News reports
More than 100 women filed a class action lawsuit against Qualitest Pharmaceuticals, a subsidiary of Endo, over a birth control packaging error in 2011 that they claim led to unplanned pregnancies, reported CBS News. The suit seeks millions of dollars in damages, the report noted. Reference Link
06:49 EDTFBFacebook considers new ad strategies for Instant Articles, WSJ reports
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06:09 EDTFBFacebook reports increase in government requests for data
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