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March 21, 2014
09:59 EDTWR, EMR, PGR, EXC, ELGX, BBRY, PKX, ESV, ABMD, UTX, JDSU, CYNOn The Fly: Analyst Upgrade Summary
City National (CYN) upgraded to Outperform from Market Perform at Wells Fargo... Ensco (ESV) upgraded to Buy from Neutral at Guggenheim... Exelon (EXC) upgraded to Outperform from Neutral at Credit Suisse... JDSU (JDSU) upgraded to Buy from Neutral at MKM Partners... Posco (PKX) upgraded to Buy from Neutral at Citigroup... Progressive (PGR) upgraded to Outperform from Market Perform at William Blair... United Technologies (UTX) upgraded to Buy from Neutral at Goldman... BlackBerry (BBRY) upgraded to Underperform from Sell at CLSA... Emerson (EMR) upgraded to Outperform from Perform at Oppenheimer... Abiomed (ABMD) upgraded to Buy from Neutral at BTIG... Endologix (ELGX) upgraded to Buy from Neutral at BTIG... Westar Energy (WR) upgraded to Buy from Hold at Argus.
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October 4, 2015
16:56 EDTEXCExelon reaches tentative agreement in proposed Pepco deal, Bloomberg says
Exelon (EXC) has reached a tentative agreement with Washington D.C. over the company's proposed Pepco (POM) acquisition, reports Bloomberg, citing people with direct knowledge of the discussions. The preliminary agreement includes an increased number of customer credits and would also require Exelon to set up secondary headquarters in D.C., said one of the sources. Reference Link
October 2, 2015
12:23 EDTUTXSupply chain issues impact Pratt & Whitney production this summer, WSJ says
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10:02 EDTABMDHigh option volume stocks
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October 1, 2015
18:19 EDTUTXSikorsky Aircraft awarded $189.43M government contract
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13:45 EDTEXCRecent news supportive of Exelon-Pepco merger approval, says KeyBanc
After the Office of People's Counsel said it was pleased that Exelon (EXC) and Pepco Holdings (POM) were willing to offer additional consumer benefits through settlement discussions and D.C.'s Attorney General filed a motion to extend by 30 days the schedule to file comments on the proposed merger, KeyBanc analyst Paul Ridzon said he views both developments as supportive of the deal. The firm has an Overweight rating on Pepco shares.
September 30, 2015
19:57 EDTUTXDoD concerned about 'excessive consolidation' after Lockheed-Sikorsky deal
Frank Kendall, the Under Secretary of Defense for Acquisition, Technology and Logistics, said in a statement earlier Wednesday that alluded to Lockheed Martin's (LMT) acquisition of United Technology's (UTX) Sikorsky unit, "With size comes power, and the department's experience with large defense contractors is that they are not hesitant to use this power for corporate advantage." Kendall added that the DoD would work with Congress to "explore additional legal tools and policy to preserve the diversity and spirit of innovation that have been central to the health and strength of our unique, strategic defense industrial base, particularly at the prime contractor level." Reacting to Kendall's statement, Lockheed spokesman Dan Nelson said, "There is no evidence to support the view that larger defense companies reduce competition or inhibit innovation... We believe that defense contractors should continue to be assessed based on the performance and effectiveness of the products and solutions offered, not on the size of their company."
08:15 EDTEMREmerson sells InterMetro business to Ali Group, terms not disclosed
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September 29, 2015
16:41 EDTEXCGE Hitachi, Exelon Generation form joint development of two digital solutions
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10:00 EDTBBRYOn The Fly: Analyst Initiation Summary
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09:26 EDTWRWolfe Research to hold a conference
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September 28, 2015
19:13 EDTEXCPepco, Exelon file for reconsideration of merger
Pepco Holdings (POM) and Exelon Corporation (EXC) have filed a petition for reconsideration of their merger with the Public Service Commission of the District of Columbia. The companies are working with the District of Columbia government to reach a settlement agreement. "We remain convinced our merger offers significant benefits to customers and the District, and we continue working to complete it," said Chris Crane, president and CEO of Exelon. "Since the Public Service Commission explained why it didn't approve the merger last month, we've worked to learn what's most important to the District - and we are responding." The District of Columbia government issued a statement confirming that it is engaged in substantive discussions with the companies on a settlement agreement. It added that any settlement agreement would be presented in a new application to the PSC for review, public comment and final determination. Joseph Rigby, chairman, president and CEO of Pepco Holdings, said, "We look forward to completing discussions with the District that will allow for a stronger Pepco to provide improved reliability along with the other significant benefits our merger will deliver to the District."
19:11 EDTEXCOn The Fly: After Hours Movers
HIGHER: Yahoo (YHOO), up 3.3% after the board authorized Yahoo to continue to pursue the Aabaco spin-off plan... Cheniere Energy (LNG), up 0.67% after Carl Icahn raised his stake in the company to 11.43%... Republic Airways (RJET), up 7.4% after the company was upgraded to Buy from Hold at Deutsche Bank... Exelon (EXC) and Pepco (POM), higher by 1% and 2.4%, respectively, after the DC Mayor's office released a statement confirming discussions of a settlement agreement with the companies. LOWER AFTER EARNINGS: SYNNEX (SNX), down 2.7% after the company reported Q3 results, gave Q4 guidance, and raised its quarterly dividend. ALSO LOWER: Zosano (ZSAN), down 52.5% after it discontinued development of its Daily ZP-PTH treatment for severe osteoporosis and terminated a collaboration agreement with Eli Lilly (LLY)... OvaScience (OVAS), down 15.9% after the company announced it doesn't expect to meet its previous 2015 goal of 1,000 Augment treatment cycles.
17:20 EDTEXCDC Mayor's office releases statement on Exelon, Pepco merger negotiations
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16:07 EDTBBRYBlackBerry initiated with a Neutral at Sterne Agee CRT
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15:33 EDTUTXPratt & Whitney renews JV agreement for training center in Beijing
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11:31 EDTESVDeutsche Bank sees bottom nearing for offshore drillers, upgrades two in space
Detusche Bank upgraded Diamond Offshore (DO) and Transocean (RIG) to Hold from Sell, saying that the companies should be boosted by upcoming reductions in the number of drilling rigs deployed by energy companies. WHAT'S NEW: As many as 180 drilling vessels may cease activity over the next 12-18 months, wrote Deutsche Bank analyst Mike Urban today. The energy sector seems to have become "more realistic" about the need to reduce supply and the offshore drilling industry is "on the cusp of a major restructuring" that should mark the bottom for valuations and pricing, he explained. Addressing the long-term outlook of deepwater drilling, Urban contended that the consensus outlook, which predicts that deepwater drilling will disappear, is incorrect. In ten years, there will be demand for 320 floating rigs, versus the 225 that are active today, Urban predicted. Over the long-term ,energy companies will have to "go where the oil is," and the oil is located in deep water, the analyst explained. He raised his price target on Diamond to $21 from $17 and on Transocean to $10 from $6. WHAT'S NOTABLE: A former executive at Petrobras (PBR) testified to receiving payments made by someone claiming to be an agent of Transocean in exchange for a rig-operation contract, linking the offshore rig contractor for the first time to the corruption probe of Brazil's state-run oil company, reported Bloomberg on September 24. The news outlet cited testimony from last month as its source for the story. Subsequently, Transocean said that it had not identified any wrongdoing by its employees vis-a-vis Petrobras and is "committed to doing business lawfully and with the highest ethical standards." PRICE ACTION: In morning trading, Diamond fell 4% to $17.62 and Transocean lost 1.75% to $12.36. OTHERS TO WATCH: Other oil and gas well drillers include Helmerich & Payne (HP), Ensco (ESV), Nabors Industries (NBR) and Seadrill (SDRL), all of which are in negative territory this morning.
10:05 EDTPGRHigh option volume stocks
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10:00 EDTELGXOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ANI Pharmaceuticals (ANIP) upgraded on valuation at Roth Capital... AbbVie (ABBV) upgraded to Neutral from Sell at Citi... Astec (ASTE) upgraded to Accumulate from Neutral at Global Hunter... Atmel (ATML) upgraded to Strong Buy from Outperform at Raymond James... BAE Systems (BAESY) upgraded to Outperform from Market Perform at Bernstein... BG Group (BRGYY) upgraded on valuation at BMO Capital... Boston Scientific (BSX) upgraded to Buy from Hold at Needham... C.H. Robinson (CHRW) upgraded to Buy from Hold at BB&T... Citi (C) upgraded to Buy from Hold at Jefferies... Diamond Offshore (DO) upgraded to Hold from Sell at Deutsche Bank... Endologix (ELGX) upgraded to Buy from Neutral at BTIG... Infosys (INFY) upgraded to Hold from Sell at Societe Generale... J.C. Penney (JCP) upgraded on confidence in CEO, initiatives at Sterne Agee CRT... Knowles (KN) upgraded to Market Perform from Underperform at FBR Capital... Lexicon (LXRX) upgraded to Hold from Sell at Gabelli... MTN Group (MTNOY) upgraded to Buy from Hold at Deutsche Bank... Natera (NTRA) upgraded to Outperform from Neutral at Wedbush... Omnicell (OMCL) upgraded to Buy from Neutral at Sidoti... RBC Bearings (ROLL) upgraded to Buy from Accumulate at Global Hunter... Raptor Pharmaceuticals (RPTP) upgraded to Perform from Underperform at Oppenheimer... Regal Entertainment (RGC) upgraded to Buy from Neutral at B. Riley... Repsol (REPYY) upgraded on valuation at BMO Capital... Star Bulk Carriers (SBLK) upgraded to Buy from Hold at Deutsche Bank... Stoneridge (SRI) upgraded to Buy from Hold at BB&T... Transocean (RIG) upgraded to Hold from Sell at Deutsche Bank... Vertex (VRTX) upgraded to Buy from Hold at Argus... Wabash (WNC) upgraded to Buy from Accumulate at Global Hunter.
07:31 EDTBBRYBlackBerry price target lowered to $7.50 from $10 at UBS
UBS analyst Amitabh Passi said he agrees with BlackBerry CEO John Chen that the company's success hinges on its ability to build a comprehensive software portfolio, but the question is whether the hardware business can stabilize before the software business gains traction in an intense competitive environment. Passi lowered his price target on BlackBerry shares to $7.50 from $10 and keeps a Neutral rating on the stock.
06:34 EDTELGXEndologix upgraded to Buy from Neutral at BTIG
BTIG upgraded Endologix to Buy based on U.S. physician survey combined with the recent selloff in shares. Analsyt Sean Lavin said a survey of U.S. physicians indicates Nellix adoption will be brisk and notes procedure times are decreasing with experience. Lavin sees more upside with the successful Nellix launch given the weakness year-to-date in shares. The analyst has a $16 price target on shares.
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