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March 7, 2014
Copa Holdings (CPA) upgraded to Buy from Neutral at UBS... Cross Country Healthcare (CCRN) upgraded to Buy from Neutral at Citigroup... GT Advanced (GTAT) upgraded to Outperform from Neutral at Credit Suisse... Omnicare (OCR) upgraded to Buy from Neutral at UBS... Polycom (PLCM) upgraded to Buy from Neutral at Citigroup... Quality Systems (QSII) upgraded to Market Perform from Underperform at FBR Capital... Safeway (SWY) upgraded to Neutral from Sell at UBS... Skullcandy (SKUL) upgraded to Outperform from Market Perform at Northland Securities... Teva (TEVA) upgraded to Overweight from Equal Weight at Barclays... The Buckle (BKE) upgraded to Neutral from Sell at Janney Capital... The Fresh Market (TFM) upgraded to Buy from Neutral at UBS... Union Pacific (UNP) upgraded to Outperform from Market Perform at Avondale... Bridgepoint Education (BPI) upgraded to Outperform at William Blair... Bank of Montreal (BMO) upgraded to Sector Performer from Underperformer at CIBC... SandRidge Energy (SD) upgraded to Overweight at Stephens citing turnaround progress... Haemonetics (HAE) upgraded to Buy from Neutral at Sidoti... Charter (CHTR) upgraded at Northland Securities... Prudential (PRU) upgraded to Buy from Neutral at BofA/Merrill... United Community Banks (UCBI) upgraded to Buy from Hold at Sandler O'Neill... Sirius XM (SIRI) upgraded at Macquarie... Clean Harbors (CLH) upgraded at Raymond James... Cabot Oil & Gas (COG) upgraded to Buy from Accumulate at KLR Group... Ivanhoe Mines (IVN) upgraded to Buy from Neutral at UBS.
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September 27, 2015
16:53 EDTTEVATeva reports Phase 3 data on reslizumab for asthma exacerbations
Teva Pharmaceutical presented results from a post hoc analysis of two pivotal Phase 3 clinical trials showing that treatment with reslizumab reduced clinical asthma exacerbations by 75% versus placebo in a subgroup of patients with late onset asthma with elevated blood eosinophils, who were inadequately controlled on inhaled corticosteroids. Reslizumab is a humanized anti-interleukin-5 monoclonal antibody. Results were pooled from two Phase 3 clinical trials that investigated reslizumab IV 3mg/kg in patients who had at least one asthma exacerbation within the previous year. In the subgroup with late onset asthma, reslizumab showed a 75% reduction in asthma exacerbations and improvement in lung function as measured by forced expiratory volume in one second. In the overall pooled patient population, asthma exacerbations were reduced by 54%, and in the subgroup of subjects diagnosed with asthma at less than 40 years of age, exacerbations were reduced by 42%. Common adverse events in the reslizumab treatment group were comparable to placebo.
September 25, 2015
10:48 EDTCHTRMorgan Stanley cautious on media, but sees several stocks punished too hard
Morgan Stanley cut its price targets on a number of media companies, citing the impact of cord cutting and skinny bundles. The firm also reduced its outlook for the pay-TV sector due to its belief that the adoption of skinny bundles will accelerate, while the outlook for cable TV ads has deteriorated slightly, given macro pressures. The firm kept a Cautious view on the media sector, but also identified several stocks in the space that it thinks have been punished too harshly by investors recently. WHAT'S NEW: TV networks in general, and cable networks in particular, have the highest margins in media and are encountering increased top and bottom line competitive pressures, Morgan Stanley analyst Benjamin Swinburne believes. On the top line, they are being hit by ratings and ad pressures as well as cord cutting and distribution consolidation, the analyst stated. Meanwhile, their profit is being hurt by the increased need to obtain new content and intensified competition for content from new sources like Netflix (NFLX) and Google's (GOOG) YouTube, Swinburne said. However, the analyst thinks that media stocks are "starting to get" cheap, given the leverage that many of the companies carry. Swinburne cuts his price target on 21st Century Fox (FOXA) to $31 from $37, on AMC Networks (AMCX) to $86 from $88, on CBS (CBS) to $46 from $56, on Time Warner (TWX) to $72 from $87 and on Viacom (VIAB) to $48 from $60. He kept Overweight ratings on Fox, AMC and CBS, an Equal Weight rating on Time Warner and an Underweight rating on Viacom. OVERDONE DECLINES: Swinburne believes that the declines in three media stocks - CBS, 21st Century Fox, and AMC Networks - have been overdone, while the decline in Comcast's (CMCSA) stock has also been excessive. CBS and 21st Century Fox are "best positioned for the skinny bundle" and have the cheapest valuations relative to their growth rates, Swinburne believes. Meanwhile, AMC Networks has "content momentum" and its EPS can exceed expectations, the analyst believes. Comcast is gaining share in the broadband Internet market, could take share in video soon, and has sufficient scale and offerings to benefit from the increased popularity of skinny bundles, according to the analyst, who kept an Overweight rating on the stock. The media sector could benefit from consolidation going forward, added Swinburne, who recommended that investors interested in buying potential takeover targets in the space focus on AMC Networks, MSG Networks (MSG) and Dreamworks Animation (DWA). He kept Overweight ratings on all three of those stocks. OTHERS TO WATCH: Besides Comcast, other pay TV companies include DISH Network (DISH) and Charter Communications (CHTR). PRICE ACTION: In early trading, Fox A shares lost 0.5% to $25.83, AMC fell 0.3% to $73.29, CBS added 0.2% to $41, Time Warner was little changed at $67.66 and Comcast A shares added 0.6% to $57.17.
09:02 EDTTEVATeva acquires Gecko Health Innovations, terms not disclosed
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08:37 EDTTEVAAntares Pharma could benefit from drug pricing controversy, says Oppenheimer
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07:53 EDTUNPUnion Pacific underappreciated by the market, says Credit Suisse
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07:22 EDTTEVAEuropean Society for Medical Oncology to hold a conference
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September 24, 2015
07:26 EDTTEVATeva stock performance can improve into year-end, says Deutsche Bank
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07:12 EDTTEVATeva added to short-term buy list at Deutsche Bank
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05:08 EDTSIRIStocks with implied volatility movement; SIRI CLF
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September 23, 2015
13:34 EDTCHTRLiberty Broadband shareholders approve proposals related to Charter merger
Liberty Broadband (LBRDA, LBRDK) announced that at its special meeting of stockholders, the holders of Liberty's common stock entitled to vote thereat approved both proposals presented at the meeting relating to Liberty's issuance of shares of its Series C common stock to third party investors, the proceeds of which will fund all or a portion of Liberty's purchase of $4.3B of stock of a new publicly traded Charter Communications (CHTR) following its proposed merger with Time Warner Cable (TWC), all as previously announced.
September 22, 2015
08:23 EDTTEVAWith Pharma in 'hot seat,' Citi still likes Allergan, Teva
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07:45 EDTCOGGlobal Hunter Securities to hold a bus tour
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07:43 EDTTEVADrug stocks could be hurt by focus on pricing, says Oppenheimer
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06:20 EDTTEVALeerink reiterates Outperform on Neurocrine after call with neurologists
Leerink analyst Paul Matteis reiterates an Outperform rating on Neurocrine (NBIX) after speaking with two neurologists on the clinical potential of the company's NBI-98854 and Teva's (TEVA) SD-809 for the treatment of Tardive Dyskinesia, Tourette's Syndrome and Huntington's Chorea. Matteis left the call "increasingly optimistic" on the likelihood of NBI-98854 showing Phase III success for Tardive Dyskinesia. The analyst has a $67 price target for shares.
September 21, 2015
16:51 EDTCHTRTime Warner Cable confirms shareholder approval of merger with Charter
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15:58 EDTCHTRCharter stockholders approve Time Warner Cable, Bright House transactions
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11:34 EDTCLHClean Harbors management to meet with Oppenheimer
Meetings to be held in Madison/Milwaukee on September 22 hosted by Oppenheimer.
11:12 EDTCHTRTime Warner Cable stakeholders approve Charter takeover, Reuters reports
Time Warner Cable (TWC) shareholders have approved its $56B takeover by Charter Communications (CHTR), Reuters reports, citing preliminary votes at a special shareholder meeting. Reference Link
09:19 EDTPRUPrudential management to meet with JPMorgan
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September 20, 2015
15:44 EDTSWYSafeway recalls cheese trays over possible listeria contamination
Safeway announced it is recalling certain "Flight of Cheese" trays prepared in store at Safeway which may contain recalled Yanni and Gopi brand cheese products due to possible listeria monocytogenes contamination. The products have been sold from Safeway stores in Ontario, Manitoba, Saskatchewan, Alberta and British Columbia. The Canadian Food Inspection Agency is conducting a food safety investigation, which may lead to the recall of other products, according to Safeway. There have been no reported illnesses in Canada associated with the consumption of these products, said the company.
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