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Stock Market & Financial Investment News

News Breaks
November 21, 2012
16:39 EDTSTJ, SQNM, CRM, TLYS, AET, ZLC, VVUSOn The Fly: Closing Wrap
Stocks on Wall Street were higher on the day, the last full trading session of the week ahead of Thursday's holiday and Friday's half day. Jobless data that was in-line with expectations did little to move the markets before the open, but the markets slowly moved higher through the session, although volume remained light. Just after midday, news crossed that a cease fire between Israel and Hamas had been reached, tempering fears that the conflict could escalate to involve other players in the region and have broader economic impacts... ECONOMIC EVENTS: In the U.S., initial jobless claims fell to 410,000, which was in-line with forecasts. Markit's "flash" November flash PMI rose to 52.4 from 51.0 in October. The final November reading of the University of Michigan Sentiment index slipped to 82.7 from its 84.9 preliminary reading. The leading indicators edged up 0.2% in October to 96.0 from 95.8 in September. In Europe, the region's finance ministers and the IMF were unable to reach a bailout agreement for Greece and will meet again on Monday with an eye on resolving the remaining disagreements. In Asia, Japanese exports fell 6.5% in October, lower than expectations for a 4.9% decline... COMPANY NEWS: Salesforce.com's (CRM) Q3 results beat on the top and bottom lines and RW Baird and Wells Fargo reiterated their Outperform ratings on the stock following the report, and shares of Salesforce.com traded higher on the session, settling up $12.88, or 8.83%, to $158.78... MAJOR MOVERS: Among notable gainers were shares of VIVUS (VVUS), up $1.38, or 13.33%, to $11.73 after Aetna (AET) posted a policy revision that expands coverage of the company's weight-loss drug Qsymia. Also higher were shares of Sequenom (SQNM), up 56c, or 15.18%, to $4.25 after a committee of the American College of Obstetricians and Gynecologists recommended that cell-free fetal DNA testing be offered to certain at-risk patients. Among the noteworthy were shares of Zale (ZLC), down over $2.23, or 29.97%, to $5.21, and Tilly's (TLYS), down $2.69, or 17.18%, to $12.97 after reporting earnings. Also lower were shares of St. Jude Medical (STJ), which fell $4.34, or 12.15%,to $31.37 after an FDA inspection report cited serious flaws in its oversight of design changes in its Durata line of defibrillator leads... INDICES The Dow was up 48.38, or 0.38%, to 12,836.89; the S&P 500 was up 3.22, or 0.23%, to 1,391.03;the Nasdaq was up 9.87, or 0.34%, to 2,926.55.
News For CRM;VVUS;AET;SQNM;ZLC;TLYS;STJ From The Last 14 Days
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February 25, 2015
16:06 EDTCRMSalesforce.com reports Q4 EPS 14c, consensus 14c
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15:12 EDTCRMSalesforce.com technical notes ahead of results
Shares have been trading in a range largely bound between $55 at the low and $65 at the high for the last several months. There is a bullish bias within the range. The two extremes of the range may be helpful for understanding where price could go post-earnings. A move up to and above the high at $65 would mean a potential breakout to the 52-week high and life high at $67. That high was set nearly a year ago to date. A breakout above $67 would set up a run to $70. The $70 area would be the top of the long-term price channel, projected forward in time. If the news is not as bullish as traders appear to expect, a move down to the $55 area would be possible. Support prior to that range low is at $58.92, the 50-day moving average, which could be a downside objective on a less severe disappointment. A breakdown below $55 would see next support at $52.74.
15:05 EDTCRMNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include salesforce.com (CRM), consensus 14c... Avago Technologies (AVGO), consensus $1.94... L Brands (LB), consensus $1.80... Workday (WDAY), consensus (6c)... BioMarin (BMRN), consensus (59c)... Concho Resources (CXO), consensus 84c... Antero Resources (AR), consensus 28c... Medivation (MDVN), consensus $1.34... Transocean (RIG), consensus 77c... Sprouts Farmers Market (SFM), consensus 9c... SINA Corporation (SINA), consensus 18c.
14:52 EDTCRMSalesforce.com February weekly 62 straddle priced for 7.2% movement into Q4
07:12 EDTCRMSalesforce.com February weekly volatility elevated into Q4 and outlook
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February 24, 2015
16:01 EDTVVUSVIVUS reports Q4 EPS (25c), consensus (25c)
Reports Q4 revenue $21.7M, consensus $20.01M.
13:23 EDTAETAetna, Virtua Medical Group expand relationship
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10:00 EDTSTJOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AMC Networks (AMCX) downgraded to Neutral from Outperform at Macquarie... American Airlines (AAL) downgraded to Market Perform at Cowen... Armstrong World (AWI) downgraded to Hold from Buy at KeyBanc... Basic Energy (BAS) downgraded to Outperform from Strong Buy at Raymond James... CSC (CSC) downgraded at Stifel... Chevron (CVX) downgraded to Perform from Outperform at Oppenheimer... Choice Hotels (CHH) downgraded to Underweight from Equal Weight at Barclays... Eni SpA (E) downgraded to Underperform from Hold at Jefferies... Fifth Street Asset (FSAM) downgraded to Neutral from Outperform at Credit Suisse... HSBC (HSBC) downgraded to Neutral from Buy at UBS... Home Loan Servicing (HLSS) downgraded to Neutral from Overweight at Piper Jaffray... Huntington Ingalls (HII) downgraded to Underperform from Neutral at Credit Suisse... International Paper (IP) downgraded to Hold from Buy at Deutsche Bank... Kayne Anderson (KED) downgraded at Stifel... Landstar System (LSTR) downgraded to Hold from Buy at Deutsche Bank... Multi-Color (LABL) downgraded to Neutral from Long-Term Buy at Hilliard Lyons... Newmont Mining (NEM) downgraded to Neutral from Overweight at HSBC... ONEOK Partners (OKS) downgraded to Underweight from Neutral at JPMorgan... ONEOK (OKE) downgraded to Underweight from Neutral at JPMorgan... Olympic Steel (ZEUS) downgraded to Underperform from Neutral at Credit Suisse... Polypore (PPO) downgraded to Market Perform from Outperform at William Blair... Rosetta Resources (ROSE) downgraded to Equal Weight from Overweight at Stephens... Salix (SLXP) downgraded to Neutral from Buy at UBS... Sprint (S) downgraded to Sell from Neutral at BTIG... St. Jude Medical (STJ) downgraded to Underperform from Outperform at Credit Suisse... Timmins Gold (TGD) downgraded on lack of near-term production catalysts at RBC Capital... Transocean Partners (RIGP) downgraded to Underweight from Equal Weight at Barclays... Vodafone (VOD) downgraded to Underperform from Neutral at BofA/Merrill... Williams Partners (WPZ) downgraded to Neutral from Buy at Citigroup... Williams (WMB) downgraded to Neutral from Buy at Citigroup... Worthington (WOR) downgraded to Neutral from Outperform at Credit Suisse... Zillow Group (Z) downgraded at Macquarie.
07:14 EDTSTJSt. Jude Medical downgraded to Underperform from Outperform at Credit Suisse
Credit Suisse downgraded St. Jude Medical two notches to Underperform based on expectations the Cardiac Rhythm Management segment and shares will under perform peers given competition from Medtronic's (MDT) Quadriplar ICD U.S. launch, Boston Scientific's (BSX) next-gen launch of its subcutaneious ICD, MRI-safe ICD competition in Japan, and the delay in the return of St. Jude's Nanostim to the European market. Price target is $74.
February 23, 2015
19:40 EDTAETLeerink healthcare services analyst holds an analyst/industry conference call
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12:21 EDTAETOn The Fly: Midday Wrap
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11:10 EDTAETHealth insurers rise after CMS releases preliminary Medicare Advantage rates
The shares of a number of health insurers are rising after the Centers for Medicare and Medicaid Services, or CMS, issued preliminary 2016 Medicare Advantage rates. According to Credit Suisse, the rates were favorable for health insurers. WHAT'S NEW: On Friday after the market closed, CMS issued a proposal for 2016 Medicare Advantage rates. The rates are preliminary and could change when CMS announces the final 2016 rates on April 6 of this year, the agency noted. In a note to investors earlier today, Credit Suisse analyst Ralph Giacobbe estimated that, under CMS' initial proposal, insurers would see rate changes of between -1% and +1%, depending on the risk that each insurer faces. The preliminary rates were "favorable" for insurers, since the rates were "in-line if not slightly better" than investors had expected, the firm stated. Moreover, CMS decided not to restrict at-home health risk assessments, as had been feared, and agreed to reduce the weighting of certain risk factors that had hurt previously certain plans with a higher proportion of low-income beneficiaries, acceding to a request by insurers. Insurers with the highest exposure to Medicare Advantage include Humana (HUM), UnitedHealth (UNH), and WellCare (WCG), the analyst stated. WHAT'S NOTABLE: After analyzing CMS' proposal, health insurer Aetna (AET) estimated that the proposal would cause government funding for its Medicare Advantage business to decline by about 1% in 2016. Aetna added that it is continuing to evaluate the changes outlined in the Advance Notice and their impact on the company and its Medicare Advantage members. OTHERS TO WATCH: Other publicly traded health insurance companies include Anthem (ANTM), AMERIGROUP (AGP), Centene (CNC), Cigna (CI), Health Net (HNT), Healthspring (HS), and Molina Healthcare (MOH). PRICE ACTION: In mid-morning trading, Humana climbed 5.3% to $164.43, UnitedHealth rose 2.6% to $115.56, WellCare gained 6.3% to $90, Aetna advanced 2% to $99.91, and Centene added 3.4% to $61.93.
09:03 EDTAETAetna sees preliminary CMS rates to lower funding for MA business 1% in 2016
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08:05 EDTAETCMS releases preliminary Medicare Advantage rates for 2016
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06:20 EDTCRMSalesforce.com February weekly volatility elevated into Q4 and outlook
Salesforce.com February weekly call option implied volatility is at 76, March is at 35, April is at 33, May is at 30; compared to its 26-week average of 33 according to Track Data, suggesting larger near term price movement into the expected release of Q4 results after the market close on February 25.
February 20, 2015
14:43 EDTSTJSt. Jude Medical raises quarterly dividend 7%
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08:41 EDTAETInsurers should be bought on weakness related to MA rates, says BMO Capital
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February 19, 2015
17:42 EDTCRMSalesforce.com CEO sold 125K shares for $7.39M, Barron's says
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February 18, 2015
07:53 EDTCRMSalesforce.com Q4 closed well, says Oppenheimer
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06:56 EDTAETObamacare enrollment exceeded goal, Politico reports
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