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May 12, 2014
10:02 EDTWB, SPWH, OPB, MEG, ELGX, VTL, PAYC, MC, KKR, DKS, PLUS, TRIV, PEGI, NAVI, JMI, CSII, CRDC, CIOOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Cardica (CRDC) initiated with a Buy at Craig-Hallum... Cardiovascular Systems (CSII) initiated with a Buy at BofA/Merrill... City Office REIT (CIO) initiated with an Outperform at Oppenheimer... Dick's Sporting (DKS) coverage assumed with an Outperform at Credit Suisse... Endologix (ELGX) initiated with a Neutral at JPMorgan... JAVELIN Mortgage (JMI) assumed with a Perform at Oppenheimer... KKR (KKR) reinstated with a Buy at Goldman... Media General (MEG) initiated with an Outperform at Wells Fargo... Moelis (MC) initiated with a Buy at UBS... Navient (NAVI) initiated with a Buy at Buckingham... Opus Bank (OPB) initiated with an Outperform at Credit Suisse... Pattern Energy (PEGI) resumed with an Outperform at BMO Capital... Paycom Software (PAYC) initiated with a Buy at Canaccord... Sportsman's Warehouse (SPWH) initiated with a Neutral at RW Baird... TriVascular (TRIV) initiated with a Buy at Canaccord... Vital Therapies (VTL) initiated with an Outperform at Credit Suisse... Weibo (WB) initiated with an Overweight at Piper Jaffray... ePlus (PLUS) initiated with a Buy at Stifel.
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November 19, 2014
06:03 EDTKKRSources: KKR, CD&R team up to take PetSmart private, Reuters reports
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November 18, 2014
18:44 EDTMCMoelis 5.5M share Secondary priced at $31.75
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11:28 EDTDKSGoPro rises after company, shareholders file to sell 10.36M shares
Shares of GoPro (GRPO) are rising in early trade after the company filed to sell 10.36M shares of its stock on behalf of the company and its stockholders. WHAT'S NEW: GoPro announced in a prospectus that it is selling about 1.29M shares of class A common stock and that selling stockholders are selling 9.073M shares of class A common stock. The holders of the company's outstanding class B common stock will hold approximately 96.1% of the voting power following this offering, with its executive officers and directors and their affiliates holding approximately 65% and CEO Nicholas Woodman holding approximately 42.5% after his sale of about 4.08M shares of class A common stock in this offering, the company explained. GoPro estimated that it will receive net proceeds of $97.1M from the sale of class A shares, assuming a public offering price of $79.15 per share. The company said it expects to use the net proceeds of this offering for general corporate purposes including working capital, adding that it may also use a portion of the net proceeds to acquire or invest in complementary businesses, technologies or assets. "However, we have no present commitments or agreements to enter into any acquisitions or make any investments," GoPro noted. WHAT'S NOTABLE: On November 10, GoPro shares slipped after its CEO acknowledged he planned to sell some of his stake as part of this stock offering. In a regulatory filing at that time, the company shared an email message sent by Woodman to employees, in which he assured that he plans to be a "significant shareholder in GoPro for a long time." Additionally, on its earnings conference call this morning, Dick's Sporting Goods (DKS) management said it continues to be "extremely enthusiastic" about the electronics category, particularly wearables, GoPro cameras, and the Fitbit activity tracker. ANALYST OPINION: In a note to investors this morning, Pacific Crest said channel checks for high end GoPros are looking better than expected. The firm said it sees upside to the upcoming quarter for Ambarella (AMBA), which provides components used by GoPro in its cameras. Pacific Crest increased its price target on Ambarella shares to $55 from $47 and maintains its Outperform rating on the stock. PRICE ACTION: In morning trading, shares of GoPro rose 4.2% to $84.92, while Ambarella (AMBA) gained 5.8% to $51.60.
11:00 EDTELGXEndologix to host investor meeting
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10:50 EDTDKSDick's Sporting says committed to returning cash to shareholders
Sees FY gross margin declining. Says not exiting golf, Golf Galaxy business.
10:17 EDTDKSDick's Sporting sees retail environment competitive, promotional
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08:05 EDTCRDCCardica suspends next-gen MicroCutter XCHANGE 30 commercial launch
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07:34 EDTDKSDick's Sporting sees FY14 EPS ex-items $2.75-$2.85, consensus $2.79
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07:33 EDTDKSDick's Sporting sees Q4 EPS $1.18-$1.28, consensus $1.21
Sees Q4 consolidated same store sales to increase approximately 1%-3%. Q4 revenue consensus $2.12B.
07:32 EDTDKSDick's Sporting reports Q3 EPS 41c, consensus 41c
Reports Q3 revenue $1.53B, consensus $1.53B. Consolidated same store sales increased 1.1%, compared to the company's guidance of an approximate 1%-3% increase. Same store sales for DICK'S Sporting Goods increased 1.7%, while Golf Galaxy decreased 8.9%.
07:23 EDTPAYCJefferies to hold a summit
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07:11 EDTELGXEndologix completes patient enrollment in Nellix EVAS FORWARD-IDE clinical trial
Endologix announced that it has completed patient enrollment in the EVAS FORWARD-IDE clinical trial, the company's U.S. pivotal clinical trial designed to evaluate the safety and effectiveness of the Nellix EndoVascular Aneurysm Sealing System for the endovascular repair of infrarenal abdominal aortic aneurysms, or AAA. Primary endpoint analysis results at one-year and beyond will be used to support the company's premarket approval, or PMA, application to the FDA for the Nellix EVAS System. The EVAS FORWARD-IDE clinical trial enrolled 179 patients at 29 centers in the U.S. and Europe. Enrollment under an extended investigation phase is anticipated to begin shortly and will continue during the pivotal trial follow-up period and PMA preparation/review process. Based on current assumptions and timelines, the company anticipates FDA approval of the Nellix System in the U.S. before the end of 2016.
November 17, 2014
16:22 EDTMCMoelis commences public offering of 5.5M shares of Class A common stock
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15:27 EDTDKSDick's Sporting November 47 straddle priced for 7.1% move into Q3
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15:16 EDTDKSNotable companies reporting before tomorrow's open
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14:58 EDTDKSDick's Sporting technical comments before earnings
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12:03 EDTWBOptions with decreasing implied volatility
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10:50 EDTCSIICardiovascular Systems management to meet with Needham
Meetings to be held in Southern California November 18-19 hosted by Needham.
November 14, 2014
09:16 EDTWBOn The Fly: Pre-market Movers
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06:05 EDTCIOCity Office REIT reports Q3 core FFO 27c, may not compare to one estimate (6c)
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