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News Breaks
January 2, 2013
07:10 EDTCSTR, DIOD, NXST, SBGI, ALOG, CSII, LQDT, BCOR, STAA, EXAS, SABA, OSIS, IRBT, SUSS, FIOBenchmark Co. introduces best ideas for 2013
Benchmark's top ideas for 2013 include Coinstar (CSTR) and Susser Holdings (SUSS) in Consumer/Retail, iRobot (IRBT) and OSI Systems (OSIS) in Defense & Homeland Security, Saba Software (SABA) in Enterprise Software, Exact Sciences (EXAS) and STAAR Surgical (STAA) in Healthcare Technology, Blucora (BCOR) and Liquidity Services (LQDT) in Internet, Cardiovascular Systems (CSII) and Analogic (ALOG) in Medical Devices & Outsourcing Services, Sinclair Broadcasting (SBGI) and Nexstar Broadcasting (NXST) in Publishing, Business Services & Broadcasting, and Diodes (DIOD) and Fusion-io (FIO) in Semiconductors & Equipment.
News For CSTR;SUSS;IRBT;OSIS;SABA;EXAS;STAA;BCOR;LQDT;CSII;ALOG;SBGI;NXST;DIOD;FIO From The Last 14 Days
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September 29, 2014
10:01 EDTSBGISinclair Broadcast unit enters syndication agreements for ASN initiative
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10:00 EDTNXSTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Akorn (AKRX) upgraded to Outperform from Sector Perform at RBC Capital... Alexandria Real Estate (ARE) upgraded to Buy from Hold at ISI Group... Baidu (BIDU) upgraded to Buy at UBS... Banner Corp. (BANR) upgraded to Buy from Neutral at DA Davidson... Boston Properties (BXP) upgraded to Buy from Hold at ISI Group... Brocade (BRCD) upgraded to Hold from Sell at Summit Research... Chico's FAS (CHS) upgraded to Outperform from Perform at Oppenheimer... Energy Transfer Partners (ETP) upgraded at Morgan Stanley... Equity One (EQY) upgraded to Buy from Hold at ISI Group... FedEx (FDX) upgraded to Outperform from Market Perform at Cowen... Himax (HIMX) upgraded at Craig-Hallum... Janus Capital (JNS) upgraded at Morgan Stanley... Kilroy Realty (KRC) upgraded to Buy from Hold at ISI Group... LRR Energy (LRE) upgraded to Buy from Hold at Stifel... Nationstar (NSM) upgraded at Sterne Agee... Nexstar (NXST) upgraded to Buy from Hold at Noble Financial... Nike (NKE) upgraded to Outperform from Neutral at Credit Suisse... Pearson (PSO) upgraded to Outperform from Underperform at Macquarie... Philips (PHG) upgraded to Buy from Hold at ING Group... Rent-A-Center (RCII) upgraded at KeyBanc... Rice Energy (RICE) upgraded to Buy from Accumulate at KLR Group... Sonic Automotive (SAH) upgraded to Overweight from Underweight at Morgan Stanley... Tahoe Resources (TAHO) upgraded to Outperform from Market Perform at Raymond James... Tanger Factory (SKT) upgraded to Buy from Hold at ISI Group... Universal Health (UHS) upgraded at BMO Capital... Voya Financial (VOYA) upgraded to Strong Buy from Outperform at Raymond James... Waste Management (WM) upgraded at Wedbush... Yahoo (YHOO) upgraded to Buy from Hold at Needham.
08:27 EDTNXSTNexstar upgraded to Buy from Hold at Noble Financial
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07:24 EDTSTAAStephens to hold an investor trip
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September 25, 2014
10:04 EDTCSIICardiovascular Systems management to meet with Benchmark
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07:40 EDTIRBTiRobot pullback a buying opportunity, says Benchmark Co.
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September 24, 2014
12:30 EDTSABASaba confirms SEC settlement, secures $15M in debt financing
Saba confirmed that it reached a settlement with the SEC regarding the previously disclosed SEC investigation. Under the terms of the settlement, the company has consented to the terms of the SEC's order without admitting or denying the SEC's findings. Saba agreed to pay a civil penalty of $1.75M. The company also announced that it has amended its existing credit facilities with Wells Fargo Bank, National Association and an affiliate controlled by Vector Capital to revise certain financial covenants and to obtain additional borrowings in the principal amount of $15M under the Vector facility. In addition, the amended facilities accommodate an additional $5M increase in the principal amount of debt, which the company is currently considering. The additional funds will support general working capital needs as well as growth initiatives.
11:55 EDTSABASaba Software pays $1.75M to settle SEC accounting fraud charges
The SEC said it charged Saba Software and two former executives with an accounting fraud that included falsified timesheets to hit quarterly financial targets. The agency said its investigation found vice presidents Patrick Farrell and Sajeev Menon were "atop a scheme at Saba Software in which managers based in the U.S. directed consultants in India to either falsely record time that they had not yet worked, or purposely fail to record hours worked during certain pay periods to conceal budget overruns from management and finance divisions." The improper time-reporting practices enabled Saba Software to achieve its quarterly revenue and margin targets, the SEC noted. Saba Software agreed to pay $1.75M to settle the SEC’s charges, and Farrell and Menon agreed to settle the case as well. In a separate order instituted today, the SEC required Saba Software’s CEO Babak Yazdani to reimburse the company $2.5M in bonuses and stock profits that he received while the accounting fraud was occurring, even though he was not charged with misconduct. Farrell and Menon each consented to the entry of an order finding that they violated the anti-fraud provisions and caused Saba Software’s violations. The order also finds that they falsified books and records and circumvented the company’s internal controls. Farrell agreed to pay disgorgement and prejudgment interest of $35,017 and a penalty of $50,000, and Menon agreed to pay disgorgement and prejudgment interest of $19,621 and a penalty of $50,000.
10:39 EDTALOGAnalogic to host investor day
Investor Day to be held in Peabody, MA on October 1 at 10 am.Webcast Link
07:15 EDTEXASExact Sciences checks show robust early adoption trends, says Jefferies
Jefferies says its analysis of Exact Sciences' enrollment database indicates robust early adoption of Cologuard. The firm has increased conviction in its 2015 test volume forecasts and keeps a Buy rating on the stock with a $20 price target.
September 23, 2014
15:38 EDTEXASExact Sciences volatility elevated
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09:46 EDTIRBTiRobot has a conference call hosted by JPMorgan
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06:52 EDTSABASaba Software to host business news update conference call
Conference call to provide 1Q15 business update and to discuss status of restatement of certain historical financial results will be held on September 30 at 5 pm. Webcast Link
06:20 EDTIRBTiRobot management to meet with Needham
Meeting to be held in Boston on September 29 hosted by Needham.
September 22, 2014
11:38 EDTDIODDiodes management to meet with Topeka
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10:15 EDTSABAOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Actavis (ACT) downgraded to Equal Weight from Overweight at Barclays... Aetna (AET) downgraded to Neutral from Buy at BofA/Merrill... Auxilium (AUXL) downgraded to Hold from Buy at Stifel... CARBO Ceramics (CRR) downgraded to Neutral from Buy at Sterne Agee... Commerzbank (CRZBY) downgraded to Underperform from Neutral at Exane BNP Paribas... Concur (CNQR) downgraded to Neutral from Buy at Nomura... Dresser-Rand (DRC) downgraded to Neutral from Accumulate at Global Hunter... Finish Line (FINL) downgraded to Equal Weight from Overweight at Morgan Stanley... General Communications (GNCMA) downgraded to Hold from Buy at Drexel Hamilton... InvenSense (INVN) downgraded to Neutral from Outperform at RW Baird... Las Vegas Sands (LVS) downgraded to Market Perform from Outperform at Wells Fargo... Lindsay Corp. (LNN) downgraded at Sterne Agee... Melco Crown (MPEL) downgraded to Market Perform from Outperform at Wells Fargo... Outerwall (OUTR) downgraded to Sell from Neutral at B. Riley... PSEG (PEG) downgraded to Hold from Buy at Jefferies... Realogy (RLGY) downgraded to Underperform from Neutral at Credit Suisse... Regal-Beloit (RBC) downgraded to Accumulate from Buy at Global Hunter... SABMiller (SBMRY) downgraded to Market Perform from Outperform at Bernstein... Saba Software (SABA) downgraded to Neutral from Buy at B. Riley... Suburban Propane (SPH) downgraded to Market Perform from Outperform at Wells Fargo... Swiss Re (SSREY) downgraded to Underperform from Neutral at Exane BNP Paribas... Towers Watson (TW) downgraded to Buy from Conviction Buy at Goldman... Valmont (VMI) downgraded at Sterne Agee... Walgreen (WAG) downgraded to Equal Weight from Overweight at Barclays... Watts Water (WTS) downgraded to Neutral from Buy at Janney Capital... Wynn Resorts (WYNN) downgraded to Market Perform from Outperform at Wells Fargo... Yahoo (YHOO) downgraded to Neutral from Buy at BofA/Merrill.
05:44 EDTSABASaba Software downgraded to Neutral from Buy at B. Riley
B. Riley downgraded Saba Software to Neutral citing valuation with shares above its $14 price target. The firm still believes an acquisition of Saba "is the likely endgame."
September 19, 2014
14:56 EDTEXASExact Sciences volatility elevated
Exact Sciences October call option implied volatility is at 88, November is at 78, January is at 71; compared to its 26-week average of 66 according to Track Data, suggesting large near term price movement.
September 17, 2014
17:02 EDTCSIICardiovascular Systems' chairman of the board Glen Nelson retiring in November
Cardiovascular Systems' chairman of the board, Glen D. Nelson, M.D., 77, plans to retire and will not stand for re-election at the company’s annual meeting of shareholders on November 12. The board named Dr. Nelson chairman emeritus, an honorary title. Scott R. Ward, a CSI director since 2013, will be named chairman. Ward is a managing director at SightLine Partners, LLC.
07:39 EDTIRBTMorningstar to hold a conference
Management Behind the Moat Conference to be held in Chicago on September 17-18.
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