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News Breaks
April 11, 2014
10:56 EDTCTRP, VJET, GRPN, CYTK, DATAOptions with increasing implied volatility: CYTK VJET DATA GRPN CTRP
News For CYTK;VJET;DATA;GRPN;CTRP From The Last 14 Days
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July 31, 2015
11:10 EDTVJETBattleground: Analysts disagree on outlook for Stratasys
Two research firms issued ratings changes on 3D printer maker Stratasys (SSYS) this morning, with UBS downgrading the stock to Sell and Piper Jaffray upgrading the stock to Buy. The firms' notes come the day after the company reported much weaker than expected third quarter results and withdrew its full-year guidance, citing uncertainty regarding the timing of a rebound in its growth. BEARISH TAKE: The "rapid deceleration" in the growth of the 3D printing market appears to be "more than temporary," UBS analyst Steven Milunovich wrote in a note to investors today. More specifically, he believes the growth of revenue that the companies can easily obtain, mostly in prototyping, is declining. It may take more time and money than investors anticipate for 3D printing companies to benefit from the next wave of growth, i.e. advanced end-use parts, the analyst warned. Milunovich, who is skeptical about whether Stratasys will be able to meet its revenue growth target over the next 12-18 months, slashed his price target on the stock to $22 from $39. BULLISH TAKE: The longer term outlook for the 3D printing market remains strong, Piper Jaffray analyst Troy Jensen wrote in a note to investors today. Although media hype about 3D printing has been overdone and the industry increased its capacity too quickly, the sector will "return to normalized growth rates" next year, predicted Jensen. Moreover, Stratasys will grow faster than the market in 2016, given its strong upcoming products, Jensen believes. However, he trimmed his price target on the stock to $39 from $42. PRICE ACTION: In morning trading, Stratasys fell 4% to $31.38. Other stocks in the sector also dropped, with 3D Systems (DDD) declining 2.7% to $13.47 and Materialise (MTLS) losing 1.5% to $8.85. However, 3D printer maker ExOne (XONE) rose 0.8% to $9.73. Voxeljet (VJET) shares were little changed.
08:39 EDTGRPNGroupon trading at discount to peers ahead of Q2 results, says Brean Capital
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05:35 EDTVJETStratasys upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst Troy Jensen upgraded Stratasys (DDD) to Overweight following yesterday's post-earnings pullback in shares. The 3D printing industry will return to more normalized grow rates in 2016 and Stratasys will grow faster than the market, Jensen tells investors in a research note. Despite lowering his near-term earnings and revenue assumptions, the analyst remains upbeat regarding the longer-term outlook for both the industry and the company. He lowered his price target for shares to $39 from $42. Stratasys closed yesterday down $3.82 to $32.67. Other names in the 3D printing space also dropped yesterday after Stratasys reported Q2 results and withdrew its 2015 outlook. The company's peers include 3D Systems (DDD) and voxeljet (VJET).
July 30, 2015
13:03 EDTVJETStratasys pulls 3D printing sector lower after retracting guidance
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11:33 EDTCTRPEarnings Watch: Expedia shares up 15.5% since Q1 report
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10:57 EDTDATATableau earnings 'aftershock' dip another buying opportunity, says Cantor
Cantor Fitzgerald analyst Brian White believe today's renewed selloff in Tableau could be driven by profit taking by investors that purchased the stock near yesterday's post-earnings lows, "aftershock" selling by previous holders and technical factors. White, who said yesterday that Tableau's story remains "very positive" and called the selloff then a "rare" buying opportunity, said today that he views the pullback in shares as another opportunity. White keeps a Buy rating and $162 price target on Tableau shares, which are down $5.51 to $107.99 in morning trading.
10:18 EDTCYTKCytokinetics management to meet with JMP Securities
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07:28 EDTGRPNGroupon announces launch of Groupon to Go in Chicago
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07:12 EDTDATATableau selloff yesterday unwarranted, says William Blair
William Blair views yesterday's selloff in shares of Tableau as unwarranted saying the company reported solid Q2 results. The firm thinks the setup going into the second half of the year is "quite compelling" and keeps an Outperform rating on the stock.
July 29, 2015
17:05 EDTDATAOn The Fly: Top stock stories for Wednesday
Stocks began the session in positive territory but soon turned mixed as the tech heavy Nasdaq was unable to hold its gains. The Federal Reserve's statement that accompanied its rate decision was little changed from its last meeting, keeping investors optimistic about a possible delay in its first interest rate hike in many years. ECONOMIC EVENTS: In the U.S., the Federal Reserve concluded a two-day meeting on monetary policy and kept benchmark interest rates unchanged between 0% and 0.25%, as expected. The Fed said information received since the last time the FOMC met indicates that economic activity has been expanding "moderately" in recent months, noting that the labor market continued to improve, with "solid job gains and declining unemployment." The central bank repeated that even after employment and inflation near "mandate-consistent levels," economic conditions may warrant keeping the target federal funds rate below "normal" levels. An index of pending home sales fell 1.8% in June, versus expectations for it to have risen 1% compared to the prior month. In China, the Shanghai composite index rose 3.4%, stemming its most recent stretch of declines, though the index is still deeply in the red on a week-to-date basis. COMPANY NEWS: Shares of Twitter (TWTR) fell $5.30, or 14.5%, to $31.24 after the company reported better than expected quarterly results but its management tempered expectations about its user growth. Several analysts cut their price targets on the stock and warned its shares may be range bound in the near-term, but maintained their buy ratings on the stock based on the social network operator's long-term potential. Analysts were not as ready to jump to the defense of another Internet stock, Yelp (YELP), which plunged $8.40, or 25.07%, to $25.11 after the local business review site operator reported lower than expected profit and lowered its fiscal year revenue guidance. At least eight research firms downgraded the stock after the company's outlook missed expectations and it announced the exit of brand advertising... Two defense contractors, Northrop Grumman (NOC) and General Dynamics (GD), advanced after each topped expectations with their quarterly reports and raised their fiscal year outlooks. General Dynamics shares gained 3.93% to $149.96 following its "beat and raise" report, while Northrop jumped 6.18% to $173.44. MAJOR MOVERS: Among the notable gainers was Cytec Industries (CYT), which gained 27.04% to $74.19 after agreeing to be acquired by Brussels-based Solvay (SVYZY) for $75.25 per share in cash, corresponding to an enterprise value of $6.4B. Among the noteworthy losers was Tableau Software (DATA), which fell $13.58, or 10.67%, to $113.64 after its earnings report. Cantor Fitzgerald analyst Brian White attributed today's pullback in shares to "very high" expectations going into the quarter, while Wedbush said Tableau's Q2 deceleration was due to difficulty in sustaining its "extraordinarily high" growth rate. Also lower were shares of Medivation (MDVN), which fell $8.77, or 8.39%, to $95.74 after Cowen analyst Eric Schmidt said prescription trends for the company's prostate cancer drug Xtandi have "slowed considerably." Schmidt, who thinks consensus expectations calling for Xtandi sales topping $3B in sales by 2019 are "far too high," recommended selling the shares and lowered his price target on the stock to $77. INDEXES: The Dow rose 121.12, or 0.69%, to 17,751.39, the Nasdaq gained 22.53, or 0.44%, to 5,111.73, and the S&P 500 advanced 15.32, or 0.73%, to 2,108.57.
16:07 EDTCYTKCytokinetics sees FY15 reven, consensus $28.55M
16:06 EDTCYTKCytokinetics reports Q2 EPS (27c), consensus (24c)
Reports Q2 revenue $6.54M, consensus $7.32M. Reports cash, cash equivalents, and investments $108.2M.
14:29 EDTDATATableau selloff a 'rare' buying opportunity, says Cantor
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14:26 EDTDATATableau Q2 momentum slows but story unbroken, says Wedbush
Wedbush said Tableau's Q2 deceleration was due to an difficulty in sustaining an extraordinarily high growth rate and regression to more sustainable rates in the wake of difficult comps. The firm's checks indicate Tableau's competitive position, sales cycles, and pricing environment are unchanged. Wedbush does not think Tableau's story is broken and views the selloff as an excellent entry point. Shares are Outperform rated with a $122 price target on shares, down from $125.
13:58 EDTDATATableau selloff a buying opportunity, says BofA/Merrill
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10:08 EDTDATATableau weakness could prove to be a buying opportunity, says Stifel
09:49 EDTDATATableau spikes sharply lower after earnings news
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09:13 EDTDATAOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Buffalo Wild Wings (BWLD), up 11.4%... Panera Bread (PNRA), up 5.9%... Sonus Networks (SONS), up 7.2%... Gilead Sciences (GILD), up 3.6%... U.S. Steel (X), up 3.3%... Synchronoss (SNCR), up 2.8%. ALSO HIGHER: Cytec Industries (CYT), up 26.7% after being acquired by Solvay (SVYZY)... MagneGas (MNGA), up 7.8% after receiving multiple orders... AK Steel (AKS), up 5.2% after being upgraded to Outperform from Neutral at Macquarie. DOWN AFTER EARNINGS: Yelp (YELP), down 23.6%... VASCO Data Security (VDSI), down 13.3%... Tableau Software (DATA), down 16%... Twitter (TWTR), down 11.4%... Akamai Technologies (AKAM), down 7.9%.
07:37 EDTDATATableau reports Q2 non-GAAP EPS 7c, consensus 4c
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July 28, 2015
15:21 EDTDATANotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include MasterCard (MA), consensus 85c... Altria (MO), consensus 71... General Dynamics (GD), consensus $2.06... Anthem (ANTM), consensus $2.75... Praxair (PX), consensus $1.46... Northrop Grumman (NOC), consensus $2.36... McKesson (MCK), consensus $2.91... Eaton (ETN), consensus $1.13... Humana (HUM), consensus $1.63... Hilton (HLT), consensus 23c... International Paper (IP), consensus 92c... Rockwell Automation (ROK), consensus $1.54... Jarden (JAH), consensus 59c... Quintiles (Q), consensus 70c... Tableau Software (DATA), consensus 4c... Garmin (GRMN), consensus 82c... Vantiv (VNTV), consensus 54c... ADT (ADT), consensus 49c.
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