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News Breaks | | | | September 11, 2012 | | 06:06 EDT |  | CTRX | Catamaran upgraded to Conviction Buy from Buy at Goldman
Goldman added Catamaran to its Conviction Buy List citing relative valuation and synergy opportunities. Price target is $120. | |
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News For CTRX From The Last 14 Days Check below for free stories on CTRX the last two weeks. |
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| June 17, 2013 | | 11:57 EDT |  | CTRX | Options with decreasing implied volatility: DMND LYV CTRX ULTA HRB
| | | June 14, 2013 | | 11:14 EDT | | CTRX | Options with decreasing implied volatility: SUPN CTRX NAV ULTA
 Subscribe for More Information | | | June 13, 2013 | | 11:51 EDT | | CTRX | Options with decreasing implied volatility: NAV CTRX ULTA LAMR LYV
| | | June 12, 2013 | | 11:44 EDT | | CTRX | Options with decreasing implied volatility: CTRX CIEN PAY ANN
Subscribe for More Information | | | June 11, 2013 | | 16:21 EDT |  | CTRX | On The Fly: Closing Wrap
Stocks on Wall Street were lower after the Bank of Japan's decision to hold off on any further stimulus measures raised investor concern. The averages recovered much of their early losses in the morning, sitting just below the flat line near noon, but the selling intensified during the second half of the session, with the market trending lower into the close. ECONOMIC EVENTS: In the U.S., NFIB's small business optimism index rose to 94.4 in May from a prior 92.1 reading. Wholesale inventories rose 0.2% in April, matching expectations, and wholesale trade rose 0.5% from the prior month, versus expectations for a 0.1% slide. The Job Openings & Labor Turnover report for April showed openings fell 3% to a seasonally adjusted 3.75M, while hiring jumped nearly 5% to 4.4M. In Asia, the Bank of Japan refrained from changing its policies following recent volatility in its stock and bond markets. The dollar weakened considerably against the Yen, losing more than 2% to trade near the Y96 level. COMPANY NEWS: Sprint (S) shares jumped 17c, or 2.37%, to $7.35 after Japan's Softbank (SFTBF) increased its offer to acquire the telecom company in the face of a potential rival bid from DISH Network (DISH). MAJOR MOVERS: Among notable gainers was Questcor (QCOR), up $5.47, or 14.9%, to $42.18 after the company acquired the right to develop Synacthen from Novartis (NVS). Also higher was Catamaran (CTRX), up $5.33, or 10.95%, to $53.99 after the company struck a ten-year strategic pharmacy benefits agreement with Cigna (CI) and its stock received upgrades from at least three firms. Among noteworthy losers was lululemon (LULU), down $14.43, or 17.54%, to $67.85 after its CEO announced plans to step down and the stock was downgraded at Sterne Agee and UBS. Also lower was GenMark Diagnostics (GNMK) which lost $1.96, or 12.95%, to $13.17, after Natural Molecular Testing launched a cardiac testing panel using technology from GenMark's competitor Luminex (LMNX). INDICES: The Dow was down 116.57, or 0.76%, to 15,122.02; the Nasdaq was down 36.82, or 1.06%, to 3,436.95; and the S&P 500 was down 16.68, or 1.02%, to 1,626.13. | | | 12:32 EDT | | CTRX | On The Fly: Midday Wrap
Stocks on Wall Street were lower at midday but well off their lows after the Bank of Japan held off from implementing any additional stimulus measures. The U.S. market followed Japan's benchmark stock index lower at the open, though the averages climbed back fairly steadily during the morning and stood near session highs just a bit below the flat line near noon. ECONOMIC EVENTS: In the U.S., NFIB's small business optimism index rose to 94.4 in May from a prior 92.1 reading. Wholesale inventories rose 0.2% in April, matching expectations, and wholesale trade rose 0.5% from the prior month, versus expectations for a 0.1% slide. The Job Openings & Labor Turnover report for April showed openings fell 3% to a seasonally adjusted 3.75M, while hiring jumped nearly 5% to 4.4M. In Asia, the Bank of Japan refrained from changing its policies following recent volatility in its stock and bond markets. The benchmark Nikkei fell about 1.5% as the decision disappointed investors who may have expected some action. COMPANY NEWS: Sprint (S) shares rose over 2% after Japan's Softbank (SFTBF) increased its offer to acquire the telecom company in the face of a potential rival bid from DISH Network (DISH). MAJOR MOVERS: Among the notable gainers was Catamaran (CTRX), which was upgraded by at least three Street firms and rose 11% after announcing a ten-year strategic pharmacy benefits deal with Cigna (CI). Also higher were shares of Questcor (QCOR), which jumped 19% after buying the rights to develop Synacthen from Novartis (NVS). Among the noteworthy losers was GenMark Diagnostics (GNMK), which fell 24% after Natural Molecular Testing launched a cardiac testing panel using technology from GenMark's competitor Luminex (LMNX). Also lower were shares of yoga apparel maker lululemon (LULU), which fell 17% after its CEO announced plans to step down and the stock was downgraded at Sterne Agee and UBS. INDICES: Near noon, the Dow was down 6.68, or 0.04%, to 15,231.91; the Nasdaq was down 11.21, or 0.32%, to 3,462.56; and the S&P 500 was down 4.89, or 0.30%, to 1,637.92. | | | 11:37 EDT | | CTRX | Options with decreasing implied volatility: TIVO NBG FRAN CIEN CTRX
Subscribe for More Information | | | 11:27 EDT | | CTRX | High option volume stocks: LQD OMC KNDI DMND CTRX
Subscribe for More Information | | | 10:03 EDT | | CTRX | On The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AmerisourceBergen (ABC) upgraded to Outperform from Market Perform at Leerink... Arthur J. Gallagher (AJG) upgraded to Buy from Neutral at Goldman... Catamaran (CTRX) upgraded to Buy from Neutral at UBS... Disney (DIS) upgraded to Outperform from Neutral at Macquarie... Fly Leasing (FLY) upgraded to Buy from Neutral at Citigroup... Navistar (NAV) upgraded to Market Perform from Underperform... Questcor (QCOR) upgraded to Buy from Fair Value at CRT Capital... Talisman Energy (TLM) upgraded to Buy from Hold at Tudor Pickering... Synergetics (SURG) upgraded to Buy from Hold at Craig-Hallum... RBC Bearings (ROLL) upgraded to Outperform from Market Perform at Barrington. | | | 09:16 EDT |  | CTRX | On The Fly: Pre-market Movers
HIGHER: Dole Food (DOLE), up 21.9% after CEO offers buyout at $12 per share... Questcor (QCOR), up 32% after buying rights to develop Synacthen and Synacthen Depot in the U.S. from Novartis (NVS), upgrade to Buy at CRT Capital... CardioNet (BEAT), up 44% after announcing a three-year national provider agreement with UnitedHealthcare Insurance (UNH)... Catamaran (CTRX), up 13.2% after announcing a ten-year strategic pharmacy benefits deal with Cigna (CI)... Sprint (S), up 2% after Softbank (SFTBF) increases buyout offer terms. Clearwire (CLWR) up 1.2%. LOWER: lululemon (LULU), down 14.9% after reporting earnings, CEO announces plans to step down, stock downgraded at Sterne Agee and UBS... Texas Instruments (TXN), down 2% after narrowing second quarter revenue, earnings forecast ranges... Corinthian Colleges (COCO), down 15.4% after disclosing the receipt of a subpoena from the SEC. Corinthian peer Career Education (CECO) 5.5%... Kinross Gold (KGC), down 5.5% after canceling development project in Ecuador, taking $720M charge, stock downgraded at Canaccord. DOWN AFTER EARNINGS: LDK Solar (LDK), down 8.5%. | | | | 07:46 EDT | | CTRX | Catamaran upgraded to Outperform from Market Perform at Raymond James
Subscribe for More Information | | | 06:44 EDT | | CTRX | Catamaran volatility elevated into 10-year strategic agreement with Cigna
Catamaran (CTRX) June call option implied volatility is at 67, July is at 53, October is at 42, January is at 39; compared to its 26-week average of 37 according to Track Data, suggesting large price movement into the announcement of a 10-year strategic agreement with Cigna (CI). | | | 06:36 EDT | | CTRX | Catamaran upgraded to Buy from Neutral at UBS
UBS upgraded Catamaran (CTRX) following the announcement of a 10-year strategic agreement with Cigna (CI). Price target raised to $68 from $59. | | | 05:46 EDT |  | CTRX | Catamaran price target raised to $70 from $60-$65 at Leerink
Subscribe for More Information | | | 05:44 EDT | | CTRX | Catamaran upgraded to Sector Outperformer from Sector Performer at CIBC
Subscribe for More Information | | | June 10, 2013 | | 18:58 EDT | | CTRX | On The Fly: After Hours Movers
Subscribe for More Information | | | 16:13 EDT | | CTRX | Cigna enters ten-year strategic PBM partnering agreement with Catamaran
Subscribe for More Information | | | June 7, 2013 | | 11:57 EDT |  | CTRX | Leerink's healthcare technology & distribution analyst holds a conference call
Subscribe for More Information | | | 11:55 EDT | | CTRX | High option volume stocks: FXB CTRX CA IDIX
Subscribe for More Information | | | 07:22 EDT | | CTRX | Catamaran risk/reward favorable into Cigna decision, says JPMorgan
JPMorgan views the risk/reward for shares of Catamaran (CTRX) as favorable into Cigna's (CI) decision on what the company plans to do with its PBM business. The firm sees a larger outsourcing deal or a potential sale of Cigna's PBM as the two most likely outcomes, and views Catamaran as well positioned under either scenario. JPMorgan has an Overweight rating on Catamaran with a $62 price target. | | |
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