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Stock Market & Financial Investment News

News Breaks
June 25, 2014
10:00 EDTMEGGF, VMI, KRA, VIAB, PBR, HOG, VRTX, EVEP, COH, DISCK, CTRPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Coach (COH) downgraded at BofA/Merrill... Ctrip.com (CTRP) downgraded to Outperform from Strong Buy at Raymond James... Discovery Communications (DISCK) downgraded to Neutral from Buy at BTIG... EV Energy (EVEP) downgraded to Hold from Buy at Wunderlich... Harley-Davidson (HOG) downgraded at KeyBanc... Kraton Performance (KRA) downgraded to Neutral from Outperform at Credit Suisse... Meggitt (MEGGF) downgraded to Underweight from Neutral at JPMorgan... Petrobras (PBR) downgraded to Equal Weight from Overweight at Morgan Stanley... Valmont (VMI) downgraded to Neutral from Outperform at Wedbush... Vertex (VRTX) downgraded to Neutral from Buy at H.C. Wainwright... Viacom (VIAB) downgraded to Neutral from Buy at BTIG.
News For COH;CTRP;DISCK;EVEP;HOG;KRA;MEGGF;PBR;VMI;VRTX;VIAB From The Last 14 Days
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May 18, 2015
09:36 EDTPBRActive equity options trading on open
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07:18 EDTHOGHarley-Davidson volatility flat as shares at low end of five-year range
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06:18 EDTPBRPetrobras downgraded to Sell from Neutral at Goldman
Goldman downgraded Petrobras to Sell and reduced its price target to $5.10 from $6.30 based on year-to-date performance vs. lower Brent prices and a reduced oil growth forecast.
May 17, 2015
19:07 EDTCTRPCtrip.com upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Alex Yao upgraded Ctrip.com to Overweight saying the company's investments over the past few years will drive "faster and more sustainable" growth. Yao calls Ctrip's most recent quarterly results "strong" and raised his price target for the stock to $87 from $63. Shares of the consolidator of hotel accommodations and airline tickets closed Friday up 83c to $71.97.
13:46 EDTVRTXVertex reports Orkambi data, says 'significant improvements' in primary endpoint
Vertex Pharmaceuticals announced that the New England Journal of Medicine published data from the two phase 3 studies of Orkambi, or lumacaftor/ivacaftor, a medicine designed to treat the underlying cause of cystic fibrosis in people ages 12 and older with two copies of the F508del mutation. In November 2014, Vertex submitted an NDA to the FDA for the combination of lumacaftor and ivacaftor. On May 12th, the FDA’s Pulmonary Allergy Drugs Advisory Committee voted 12-1 to recommend approval of Orkambi for people ages 12 and older with two copies of the F508del mutation. The FDA is expected to make a decision by July 5. The New England Journal reports that the studies enrolled 1108 patients who underwent randomization and received Orkambi. In both studies, there were significant improvements in the primary end point in both lumacaftor–ivacaftor dose groups. The difference between active treatment and placebo with respect to the mean absolute improvement in the percentage of predicted FEV ranged 2.6%-4%, which corresponded to a mean relative treatment difference of 4.3 to 6.7%. Pooled analyses showed that the rate of pulmonary exacerbations was 30%-39% lower than in the placebo group. The rate of events leading to hospitalization or the use of intravenous antibiotics was also lower. The incidence of adverse events was generally similar to the placebo group.
May 15, 2015
16:32 EDTVIABBerkshire Hathaway gives quarterly update on stakes
NEW STAKES: None. INCREASED STAKES: IBM (IBM), Precision Castparts (PCP), Wells Fargo (WFC), Phillips 66 (PSX), and US Bancorp (USB). DECREASED STAKES: National Oilwell Varco (NOV), Viacom (VIAB), Bank of New York Mellon (BK), MasterCard (MA), and Visa (V). LIQUIDATED STAKES: None.
10:20 EDTCTRPOptions with decreasing implied volatility
Options with decreasing implied volatility: NLNK ARWR CTRP RAX KING AOL WPZ RL Z MBI
09:31 EDTVRTXAmerican Thoracic Society to hold a conference
ATS 2015 Conference is being held in Denver on May 15-20.
May 14, 2015
12:49 EDTCTRPOn The Fly: Top stock stories at midday
The market opened higher amid lower than expected weekly jobless claims, data showing that producer prices fell rather than rose in April and a continued slide in the dollar against the euro. The Dow notched triple digit gains right out of the gate and the averages have moved in a narrow range in morning trading, albeit at near-record levels. ECONOMIC EVENTS: In the U.S., initial jobless claims fell 1K to 264K in the week ended May 9, versus expectations for 273K first-time claims. The weekly data brought the four week moving average to 271.75K, which marks its lowest level in 15 years. The Producer Price Index fell 0.4% in April, with the core PPI reading sliding 0.2%, which missed expectations for both the headline and core PPI figures to have grown 0.1%. After dropping 1.3% yesterday against the euro, the U.S. dollar slid another 0.4% earlier to about $1.14 per euro, bringing its decline to about 7% versus the euro in the past month. COMPANY NEWS: Shares of Avon Products (AVP) were volatile after "PTG Capital Partners" announced via a filing with the SEC that it has submitted an offer to the board of Avon proposing to acquire all of the company's outstanding stock, and outstanding options to acquire such shares, in a recommended cash tender offer at a price per share of $18.75. Shares of Avon spiked initially after the filing, were halted several times due to volatile trading, and came well off their earlier highs as investors questioned the validity of the firm making the purported offer. A source told Dow Jones that the company was treating the purported bid as a hoax and Avon told CNBC that it had no proof PTG exists and that it has not received any offer. Still, Avon remained up about 4% to trade near $6.92 per share in early afternoon trading. MAJOR MOVERS: Among the notable gainers was Russia's QIWI (QIWI), which jumped 12% after the company announced that it has entered into an agreement with Otkritie to acquire the Contact money transfer system and the Rapida payment processing system, which are "highly value accretive" acquisitions according to analysts at JPMorgan. Also higher was China's Ctrip.com (CTRP), which gained 10% and was upgraded at Stifel and Oppenheimer following the company's Q1 results. Among the noteworthy losers was Puma Biotechnology (PBYI), which dropped 18% after data on the company's neratinib drug was disclosed via an abstract for the company's upcoming presentation at the American Society of Clinical Oncology, or ASCO, meeting. Also lower following its earnings report was retailer Kohl's (KSS), which slid over 12%. INDEXES: Near midday, the Dow was up 170.23, or 0.94%, to 18,230.72, the Nasdaq was up 55.96, or 1.12%, to 5,037.65, and the S&P 500 was up 17.10, or 0.81%, to 2,115.58.
10:42 EDTHOGHarley-Davidson trades close to session lows in first hour of trading
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10:35 EDTCTRPCtrip.com hits fresh life high after results
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10:00 EDTCOHOn The Fly: Analyst Initiation SummaryT
Today's noteworthy initiations include: Advaxis (ADXS) initiated with a Buy at MLV & Co.... Akebia (AKBA) initiated with a Buy at Brean Capital... CarMax (KMX) initiated with a Buy at Sterne Agee CRT... Coach (COH) initiated with a Neutral at Wedbush... Euronav NV (EURN) initiated with an Outperform at Credit Suisse... Franco-Nevada (FNV) initiated with an Outperform at Macquarie... Kate Spade (KATE) initiated with an Outperform at Wedbush... Lumber Liquidators (LL) initiated with a Perform at Oppenheimer... Michael Kors (KORS) initiated with a Neutral at Wedbush... National Instruments (NATI) initiated with an Overweight at Stephens... Royal Gold (RGLD) initiated with an Outperform at Macquarie... Spectra Energy Partners (SEP) initiated with a Buy at Janney ... Spectra Energy (SE) initiated with a Buy at Janney Capital... Tribune Publishing (TPUB) initiated with a Buy at Sterne Agee CRT.
10:00 EDTCTRPOn The Fly: Analyst Upgrade Summary
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09:49 EDTHOGHarley-Davidson U.S. retail unit sales forecasts below consensus at ITG Research
ITG Research introduced a U.S. retail unit sales forecast of 55,605 to 56,769 motorcycles, or down 4.5% to down 2.5% year-over-year, which is below the 0.7% year-over-year decline in growth the firm reported in Q1 and consensus forecast for an increase of 3.8%.
09:22 EDTCTRPOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Perry Ellis (PERY), up 11.5%... Ctrip.com (CTRP), up 13.4%. ALSO HIGHER: AcelRx (ACRX), up 10.3% after being awarded contract worth up to $17M from Defense Dept to advance ARX-04... Oncothyreon (ONTY), up 16.9% after ASCO presentation data released... CYREN (CYRN), up 14.6% after announcing agreement with Dell.... Discovery Laboratories (DSCO), up 5.2% after Aerosurf shows positive Phase 2a data... Kate Spade (KATE), up 3.9% after being initiated with an Outperform at Wedbush. DOWN AFTER EARNINGS: Digital Ally (DGLY), down 16.4%... Kohl's (KSS), down 10.2%... VOXX (VOXX), down 8.1%... Cosi (COSI), down 7.3%. ALSO LOWER: Biotechnology (PBYI), down 15.1%% after Neratinib data published in ASCO abstract... Gevo (GEVO), down 10.7% after 4.3M share Spot Secondary priced at $4.00.
07:45 EDTCTRPCtrip.com price target raised to $96 from $70 at Brean Capital
Brean Capital raised its price target on Ctrip.com to $96 from $70. The firm believes the stock offers investors exposure to China's robust online travel growth and sees future product and service expansions. Brean Capital reiterated its Buy rating on Ctrip.com shares and said it views the stock as a core holding in the China Internet space.
07:03 EDTCTRPCtrip.com upgraded to Buy from Hold at Stifel
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06:35 EDTCTRPCtrip.com upgraded to Outperform from Perform at Oppenheimer
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06:33 EDTCOHCoach initiated with a Neutral at Wedbush
Target $37.
06:06 EDTCTRPStocks with implied volatility above IV index mean; ALTR CTRP
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