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March 1, 2013
06:05 EDTGLNCY, VZ, TWX, WAG, DTV, DIS, CVC, CVS, GRPN, CMCSA, NWSA, RADOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Drugstore chains (CVS, WAG, RAD) are branching out into health-care services, as a way to counter a slowdown in prescription drug sales and evolve beyond just dispensing pills. They see big opportunities as millions of uninsured Americans pick up health coverage next year. The upside is in making sure current patients stay on their medications or providing alternative venues for medical treatment, even if it is done virtually, the Wall Street Journal reports...What happens when the "bundle" begins to unravel? The question is taking on intense importance for the cable-TV business (CVC, TWX, NWSA, DIS, VZ, CMCSA, DTV). Attacks on the bundle approach have escalated. Now pay-TV executives, as well as its customers, are openly pondering a world where the bundle no longer reigns, even though such a scenario could be years away, the Wall Street Journal reports...REUTERS: Glencore (GLNCY) supplied thousands of tons of alumina to the Iranian Aluminum Co. (Iralco) that has provided aluminum to Iran's nuclear program, intelligence and diplomatic sources say, Reuters reports...The $85B in across-the-board "sequestration" cuts designed to hit most U.S. government programs were set to begin today. What they were not likely to do, at least as far as financial markets were concerned, was cause enough damage to derail a U.S. economy that has been gaining momentum, Reuters reports...BLOOMBERG: The firing of Groupon (GRPN) CEO Andrew Mason puts pressure on Chairman Eric Lefkofsky to find a replacement who can create a money-making business after the daily-deal provider lost $723.8M in the past three years, Bloomberg reports...Two Chinese Manufacturing indexes revealed a slower-than-estimated pace of expansion, a signal that the nationís economic recovery may be losing steam, Bloomberg reports.
News For CVS;WAG;RAD;CVC;TWX;NWSA;DIS;VZ;CMCSA;DTV;GLNCY;GRPN From The Last 14 Days
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January 27, 2016
16:01 EDTVZOptions Update; January 28, 2016
iPath S&P 500 VIX Short-Term Futures up 1.02 to 26.01. Option volume leaders: AAPL FB BAC NFLX FCX BABA AA X VZ BA T
10:18 EDTDISMattel and Disney Consumer Products announce renewed agreement
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09:29 EDTVZFacebook data center project supported by telco heavyweights, FT reports
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January 26, 2016
19:54 EDTDISIMAX announces Spider-Man to be released in IMAX 3D Theatres
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11:04 EDTCVCNew York Public Service Commission holds hearings
The New York Public Service Commission sponsors a series of informative sessions and public statement hearings regarding the Joint Petition Altice N.V. and Cablevision filed to transfer certain telephone and cable systems to Altice. There will be two sessions held in Peekskill, New York on January 26 at 2 pm and 6 pm.
10:32 EDTRADOptions with increasing implied volatility: CLDX SNDK GMCR RAD
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10:00 EDTDISOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Amec Foster Wheeler (AMFW) downgraded to Hold from Buy at HSBC... CVR Refining (CVRR) downgraded to Sell from Neutral at Goldman... Cenovus Energy (CVE) downgraded to Neutral from Buy at UBS... Clean Harbors (CLH) downgraded to Underperform from Market Perform at Raymond James... Core Laboratories (CLB) downgraded to Reduce from Hold at HSBC... Delek US (DK) downgraded to Neutral from Buy at Goldman... Deutsche Post (DPSGY) downgraded to Underperform from Outperform at Credit Suisse... Disney (DIS) downgraded to Neutral on reduced ESPN forecasts at Atlantic Equities... Dorian LPG (LPG) downgraded to Market Perform from Outperform at Wells Fargo... Encana (ECA) downgraded to Neutral from Buy at UBS... Fortinet (FTNT) downgraded to Hold from Buy at Deutsche Bank... Fortune Brands (FBHS) downgraded to Neutral from Outperform at Credit Suisse... General Growth (GGP) downgraded to Equal Weight from Overweight at Barclays... Golden Ocean (GOGL) downgraded to Underweight from Neutral at JPMorgan... Grupo Mexico (GMBXF) downgraded to Neutral from Overweight at JPMorgan... Halliburton (HAL) downgraded to Hold from Buy at HSBC... Marketo (MKTO) downgraded to Underperform at BofA/Merrill... Navios Maritime (NM) downgraded to Neutral from Overweight at JPMorgan... NetSuite (N) downgraded to Underperform at BofA/Merrill... OM Asset Management (OMAM) downgraded to Equal Weight at Morgan Stanley... Paylocity (PCTY) downgraded to Underperform from Neutral at BofA/Merrill... Pennsylvania REIT (PEI) downgraded to Underweight from Equal Weight at Barclays... Pinnacle West (PNW) downgraded to Hold from Buy at Evercore ISI... Public Storage (PSA) downgraded to Equal Weight from Overweight at Barclays... Red Hat (RHT) downgraded to Neutral from Buy at BofA/Merrill... Regal Entertainment (RGC) downgraded on valuation at RBC Capital... Rouse Properties (RSE) downgraded to Equal Weight from Overweight at Barclays... Star Bulk Carriers (SBLK) downgraded to Neutral from Overweight at JPMorgan... Stratasys (SSYS) downgraded to Neutral from Overweight at JPMorgan... Subsea 7 (SUBCY) downgraded to Reduce from Hold at HSBC... US Ecology (ECOL) downgraded to Market Perform from Outperform at Raymond James... USG (USG) downgraded to Underperform from Neutral at Credit Suisse... Vornado (VNO) downgraded to Equal Weight from Overweight at Barclays... Weir Group (WEIGY) downgraded to Underperform from Hold at Jefferies.
09:05 EDTVZVerizon and Samsung launch network extender solution
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08:26 EDTCMCSA, TWX, DISTwitter in play after executive departures, says Cantor
Cantor Fitzgerald analyst Youssef Squali believes yesterday's news of several senior executives leaving Twitter (TWTR) puts the company in play and could encourage potential bidders to step forward. Twitter's current valuation and sizeable user base makes it a strategic asset for a number of potential buyers, Squali told investors last night in a research note. Potential suitors on the technology side include Alphabet (GOOG, GOOGL), Facebook (FB) and Microsoft (MSFT), the analyst contends. On the media side, Squali thinks 21st Century Fox (FOXA), Disney (DIS), Comcast (CMCSA) or Time Warner (TWX) could express interest in Twitter. No concentration of share ownership and no super-voting structure increase the odds of a buyout, Squali argues. The analyst, however, adds that the executive departures are not good news for a company in the midst of a turnaround. He maintains a Buy rating on the microblogging operator with a $45 price target. Twitter closed yesterday down 82c, or 5%, to $17.02..
06:54 EDTDISDisney downgraded to Neutral on reduced ESPN forecasts at Atlantic Equities
Atlantic Equities analyst Hamilton Faber downgraded Disney to Neutral from Overweight and cut his price target to $104 from $148. Faber looked at how cord cutting will affect ESPN and is concerned about high levels of fixed costs in its sports rights while ESPN faces revenue headwinds. The analyst's 20 year ESPN model forecasts strong five year growth of +9% per year, but average growth over the following five years is -12% and negative thereafter. Faber reduced ESPN subscriber forecasts and no longer believes Disney's premium valuation is sustainable.
January 25, 2016
15:24 EDTCVSExpress Scripts off highs after Clinton tweets critical NPR report
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12:08 EDTDIS'Star Wars: The Force Awakens' crosses $200M mark at IMAX locations
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11:41 EDTNWSAStifel downgrades Twitter as firm can't see positive spin for executive exits
Twitter (TWTR) is falling after CEO Jack Dorsey confirmed on Sunday night the departure of four company executives, leading research firm Stifel to downgrade the shares. EXECUTIVE EXODUS: The four executives leaving the company are Twitter's head of product, Kevin Weil, head of media, Katie Stanton, head of engineering, Alex Roetter, and head of human resources, Brian "Skip" Schipper. CEO Jack Dorsey confirmed the departures in a tweet, saying, "Want to set the record straight now: Given the inaccurate press rumors today regarding their departures, I'm addressing this now: I'm sad to announce that Alex Roetter, Skip Schipper, Katie Stanton and Kevin Weil have chosen to leave the company... COO Adam Bain will be taking on additional responsibilities, including responsibility for the revenue-related product teams, the media team and the HR team on an interim basis. CTO Adam Messinger will be taking over all of engineering and consumer product, design and research, user services and Fabric into one group." Note that due to Twitter's 140 character limit, Dorsey was forced to post his lengthy message in the form of an image of the text. OTHER EXECUTIVE NEWS: Twitter could name Leslie Berland, currently an executive VP at American Express (AXP), as its new Chief Marketing Officer reporting directly to Dorsey, this week, according to Re/code's Kara Swisher. Additionally, the Wall Street Journal noted that Twitter intends, as part of its shake-up. to bring in two new members to its board as soon as this week. At least one of the people is a high-ranking executive in the media industry, the Journal added. STIFEL DOWNGRADE: Twitter was downgraded to Hold from Buy by Stifel analyst Scott Devitt on Sunday. Devitt cited the executive departures, saying, "While we may not be the sharpest tools in the shed, we don't see how the departure of the heads of three major business divisions can be viewed as a positive in the middle of an attempted business turnaround." PRICE ACTION: In late morning trading, Twitter shares were down almost 4% to $17.15. Note this decline follows a rise of more than 4% late last week on rumors that News Corp. (NWS, NWSA) and other companies were interested in acquiring Twitter. News Corp. later denied it was building a Twitter stake.
09:04 EDTVZSprint doubles number of LTE Plus markets
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08:33 EDTDISDisney shares 'extremely attractive' at these levels, says JPMorgan
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07:32 EDTCMCSATMC to hold a conference
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January 24, 2016
18:56 EDTVZVerizon pursuing sponsored content for go90, Reuters says
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18:28 EDTTWXAT&T potentially circling Time Warner, New York Post says
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17:55 EDTDIS, CMCSA'The Revenant' tops box office as 'Ride Along 2' sags
"The Revenant" clawed past "Ride Along 2" as this weekend's snow storm left several box office newcomers grasping for ticket sales. WEEKEND LEADER: Fox's (FOX, FOXA) "The Revenant" grossed $16M domestically for the weekend of January 24. The Leonardo DiCaprio-led survival Western was expected to take $19M-$21.6M, though results may have been dampened by the East Coast winter storm. BOX OFFICE RUNNERS-UP: Disney's (DIS) "Star Wars: The Force Awakens" earned $14.3M and now stands at $1.94B globally. Comcast (CMCSA, CMCSK) subsidiary Universal's "Ride Along 2" dipped to $13M against expectations for $18M-$18.7M, with critics and audiences generally lukewarm on the film despite its $34M open last weekend. Rounding out the weekend's top five were Lionsgate's (LGF) "Dirty Grandpa" and STX Entertainment's "The Boy," with the two newcomers debuting at a respective $11.5M and $11.3M.
11:02 EDTVZStocks post weekly gain after oil rebounds
Stocks recovered late in the week to post their first weekly gain of the new year as equities continue to be correlated closely with the oil market. A plunge in oil led equities lower early in the holiday shortened week, but as oil prices rebounded to close the week out, the major averages followed suit. MACRO NEWS: In the U.S., the consumer price index fell 0.1% during December, versus expectations for a flat reading. The core reading, which excludes food and energy, showed prices rose 0.1% from the prior month, versus expectations for an increase of 0.2%. Initial jobless claims rose to 293,000 last week, topping the expectation for 278,000 first-time claims. Markit's flash manufacturing Purchasing Managers' Index for January rose 1.5 points to 52.7, better than the 51.0 reading that was expected. Existing home sales climbed 14.7% to a 5.46M rate in December, topping the 5.2M rate that was forecast... In Asia, China's national bureau of statistics estimated that GDP growth slowed to 6.8% in the last quarter of the year, dipping from 6.9% growth in the previous quarter. China's industrial output rose 5.9% from a year earlier in December, compared with the consensus forecast for a 6% increase. Japan's Nikkei average was down early in the week, even falling into bear market territory, but rallied nearly 6% on Friday after the Nikkei Asian Review said that the Bank of Japan is taking a "serious look" at additional easing... In Europe, the European Central Bank left its key interest rates unchanged. However, at an associated press conference, ECB President Mario Draghi acknowledged downside risks were increasing again, meaning the bank may need to "review and possibly reconsider" its monetary policy stance at its next meeting in March. Markit's flash PMI for the euro zone slid to an 11-month low of 53.5, missing expectations for a more modest dip to a 54.2 reading. The International Monetary Fund cut its global growth forecasts for the third time in less than a year. The IMF now estimates that the world economy will grow 3.4% this year and 3.6% next year, down from its prior forecasts of 3.6% and 3.8% growth, respectively. COMPANY NEWS: On Tuesday, Morgan Stanley (MS) advanced 1% after its earnings and revenue topped analysts' consensus forecast. Big bank peer Bank of America (BAC) slid 1% after its earnings also beat expectations but its revenue narrowly missed the consensus estimate... On Wednesday, IBM (IBM) slid nearly 5% after reporting better than expected earnings and revenue for the fourth quarter, but forecasting below-consensus profits for the new year... On Thursday, Verizon (VZ) was among the best performers on the Dow, advancing over 3% after its earnings, revenue and wireless subscriber additions all topped expectations. Conversely, fellow Dow member Travelers (TRV) slid almost 1% after releasing its own quarterly results... On Friday, American Express (AXP) sunk more than 12% after the card issuer reported stronger than expected quarterly results but its 2017 profit guidance came in below the consensus outlook. The company's pledge to take out $1B in costs by the end of 2017 did little to change the mood of analysts or investors. Fellow Dow member GE (GE) slid a bit more than 1% after reporting better than expected earnings but lower than expected quarterly revenue... Schlumberger (SLB) shares gained 6% after the oil services giant reported earnings that topped expectations, approved a quarterly dividend of 50c per share and a new share repurchase program of $10B and said it plans to cut 10,000 more jobs... Netflix (NFLX) reported fourth quarter earnings that beat analyst estimates, powered by better than expected international subscriber growth. The numbers were met with positive commentary by several research firms, though decelerating U.S. subscriber growth was highlighted by bears as a warning sign for the company... Deutsche Bank (DB) disclosed that it expects a EUR2.1B net loss for the quarter due to a number of charges, including expected litigation costs of EUR1.2B... Xilinx (XLNX) advanced after reporting its third quarter numbers. The news may have been overshadowed, however, by a regulatory filing showing new agreements with its top executives, with several analysts highlighting that the change could signal a takeover is in the cards in the future... Alkermes (ALKS) plunged more than 44% after disclosing that two of three Phase 3 studies of its experimental depression disorder treatment did not meet their primary efficacy endpoints. INDEXES: For the four-day week, the Dow gained about 0.67% to close at 16,093.51, the S&P 500 rose about 1.4% to close at 1,906.90, and the Nasdaq increased about 2.3% to close at 4,591.18.
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