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December 12, 2012
12:25 EDTDD, STP, FSLR, TSL, CSIQ, JASO, ESLR, YGE, LDK, TEVA, CRL, PC, GILD, YMI, SPWROn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday as investors wait on the Fed and other Washington powers to set the direction. The averages began the session slightly higher and have remained in a narrow range all morning. However, the day's real action may be yet to come, as investors await the conclusion of the two-day Federal Reserve policy meeting. The rate decision is due out at 12:30 pm ET. And, as always, headlines from Washington regarding the fiscal cliff negotiations are always a threat to swing the market quickly in either direction... ECONOMIC EVENTS: In the U.S., import prices fell more than expected and recorded their biggest drop in five months in November, dropping 0.9%. In Europe, the pace of contraction of industrial production in the 17 countries that use the euro accelerated in October, as activity fell 3.6% from a year ago compared to a contraction of 2.8% in September... COMPANY NEWS: DuPont (DD) shares rose 2% after the company said it expects its adjusted EPS to come in at the high end of its previous forecast and also authorized a repurchase program of $1B... A number of solar stocks moved up sharply amid numerous headlines from Chinese and Taiwanese media sources. Reports said China plans additional subsidies for solar companies there and also some China-based makers may sell solar cell equipment to Taiwan. A number of solar names moved higher, including Yingli Green Energy (YGE), up 20%, Trina Solar (TSL), also up 20%, and JA Solar (JASO), up 22%. Additionally, LDK Solar (LDK), which rose 27%, announced it has entered into discussions with certain creditors to obtain additional flexibility as it continues to work to address its previously disclosed liquidity and working capital concerns... MAJOR MOVERS: Among the notable gainers was Panasonic (PC), up almost 8% following an upgrade to Overweight at Barclays. Also higher were shares of YM BioSciences (YMI), up 77% after agreeing to be acquired by Gilead Sciences (GILD) for $2.95 per share in cash. Gilead shares, meanwhile, moved up 10c, or 0.13%. Among the noteworthy losers was Charles River Labs (CRL) down 8% after reaffirming its 2012 guidance and giving guidance for 2013 below Street expectations. Also lower were shares of Teva Pharmaceutical (TEVA), down 4.7% after Leerink downgraded the stock to Market Perform and Wells Fargo removed it from the firm's Priority Stock List... INDICES: Near noon, the Dow was up 8.25, or 0.06%, to 13,256.69; the Nasdaq was down 2.71, or 0.09%, to 3,019.59; and the S&P 500 was up 2.37, or 0.17%, to 1,430.21.
News For DD;YMI;GILD;PC;CRL;TEVA;LDK;YGE;ESLR;JASO;CSIQ;TSL;FSLR;STP;SPWR From The Last 14 Days
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October 9, 2014
08:28 EDTGILDGilead to be challenged by AbbVie in HCV near-term, says Bernstein
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07:20 EDTDDArchitectural Record to hold a conference
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05:25 EDTCSIQCanadian Solar announces sale of 10 MW of solar modules to Conti Group
Canadian Solar announced that it supplied Conti/SunDurance with 10 MW of solar modules during Q3. For this 10 MW order, Canadian Solar delivered to the Conti Group in total 33,792 pieces of CS6X solar modules in 6 x 12 cell matrix with UL 1000V certificate. In the life span of 25 years, these modules will turn solar energy into 360,000 MWh of electricity, and displace CO2 emissions by 67,000 tons.
October 8, 2014
16:29 EDTDDU.S. Chemicals sector initiated with an Overweight at RBC Capital
RBC Capital started the U.S. Chemicals sector with an Overweight rating citing the growth of shale gas. The firm lists ethylene stocks LyondellBasell (LYB), Westlake Chemical (WLK) and Dow Chemical (DOW) its top picks in the space. RBC views coatings stocks as good ways to play the pending recovery in construction, and has Outperform ratings on Sherwin-Williams (SHW) and PPG Industries (PPG). RBC put its only Underperform rating in the sector on Axiall (AXLL), citing the company's short ethylene position and leverage to single-family housing.
16:26 EDTGILDOn The Fly: Closing Wrap
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16:20 EDTDDDuPont initiated with a Sector Perform at RBC Capital
Target $71.
16:01 EDTGILDOptions Update; October 8, 2014
iPath S&P 500 VIX Short-Term Futures down 2.73 to 29.51. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX PBR AA CLF GILD according to Track Data.
15:49 EDTGILDAchillion, Gilead rise after late breaking abstract for AASLD posted
Shares of Achillion (ACHN) are higher after the company announced this morning that four abstracts have been accepted for presentation at The Liver Meeting, the annual meeting of the American Association for the Study of Liver Diseases. Among those four is a late breaker poster presentation providing updated results, including SVR12, from an ongoing Phase 2 proxy study evaluating Achillion's second-generation NS5A inhibitor, in combination with sofosbuvir, without ribavirin, for eight weeks of treatment in patients with treatment-naïve genotype 1 chronic hepatitis C virus infection. Sofosbuvir is sold under the brand name Sovaldi by Gilead Sciences (GILD). In a note to investors, FBR Capital noted that the "surprise" late-breaking poster for the meeting showed a 100% cure rate for the combination therapy. In late afternoon trading, Achillion shares are up 10% to $10.74 while Gilead is up 4.3% to $108.78.
08:05 EDTTEVATeva initiates NDA submission to FDA for CEP-33237
Teva Pharmaceutical announced the initiation of a rolling New Drug Application submission to the U.S. Food and Drug Administration for hydrocodone bitartrate extended-release tablets designed with Teva’s proprietary technology providing potential abuse-deterrent properties CEP-33237 as allowed for fast track designated products. Teva expects to complete the NDA submission by the end of 2014. Teva also announced positive results from a nasal Human Abuse Liability study which supports the NDA. The nasal HAL study found that in nondependent, recreational opioid users, abuse potential for crushed intranasal CEP-33237 was significantly lower than intranasal immediate-release hydrocodone. Teva has now completed positive HAL studies in the two most common routes of hydrocodone abuse, oral and intranasal. CEP-33237 demonstrated a safety profile in the Phase III study that is consistent with the known safety profile of hydrocodone and other opioid analgesic therapies. Adverse events reported in 5% or more of hydrocodone-treated patients during either the titration or double-blind treatment periods included nausea, constipation, vomiting, headache, somnolence and dizziness.
07:18 EDTGILDInfectious Diseases Society of America to hold a conference
ID Week 2014 is being held in Philadelphia on October 8-12.
06:47 EDTTEVALawmakers may push for new regulations on generic drug makers, NY Times says
After the prices of some generic drugs soared more than 1,000% over the last year, two influential members of Congress are probing the sector and threatening to look to impose new regulations on it, according to The New York Times. Generic drug makers include Teva (TEVA), Mylan (MYL), Actavis (ACT), and Lannett (LCI).Reference Link
05:27 EDTCSIQCanadian Solar announces $46M construction, term financing from Manulife
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October 6, 2014
11:58 EDTTEVATeva simplifaction plans expected but positive, says BMO Capital
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11:53 EDTTSL, JASO, FSLR, SPWR, CSIQ, YGEGT issues company specific, solar sell-off unwarranted, says Northland
Northland said it believes GT Advanced's (GTAT) bankruptcy filing is company specific and related to its non-solar opportunities and that the sell-off in other solar industry stocks after this news is unwarranted. Publicly traded companies in the solar space include Canadian Solar (CSIQ), First Solar (FSLR), JA Solar (JASO), SunPower (SPWR), Trina Solar (TSL) and Yingli Green Energy (YGE). The firm also confirmed that GT is a customer of Ultra Clean (UCTT) and that some of its growth potential with the GT may be muted near-term, but points out that the company required a full prepayment for its prior work with GT.
11:41 EDTCSIQ, SPWR, FSLRSolar companies sink after GT Advanced declares bankruptcy
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11:23 EDTTSLTrina Solar shares slide, levels to watch
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09:05 EDTDDDuPont expects to supply more sustainable refrigerant by end of 2015
DuPont's Flurochemicals global business director Kathryn McCord said, "DuPont continues to see rapid transition to HFO-1234yf refrigerant for automotive air conditioning, and we expect to see the refrigerant in 3 million cars by the end of 2014, with that number growing to 7 million by the end of 2015. All but one of the world's leading automakers are adopting HFO-1234yf... "DuPont is prepared to supply HFO-1234yf, which it sells as DuPont™ Opteon® YF refrigerant, to both automakers and the service industry in the United States and Europe. DuPont was the first company to establish capacity of HFO-1234yf, with sites in China and Japan, and capacity expansions we announced last October are on track. We have sufficient supply to meet our customers' projected demand, and are prepared to make additional investments when long-term demand justifies it."
08:32 EDTTEVATeva identifies 14 pipeline projects for discontinuation or divestment
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08:32 EDTTEVATeva announces results of strategic review of core specialty therapeutic areas
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07:04 EDTCSIQCanadian Solar updates Japanese pipeline in light of recent suspension
Canadian Solar provided an update on the status of its Japanese pipeline to clarify its position in light of recent announcements by Kyushu Electric Power to temporarily suspend grid connection approval pending evaluation of their respective grid capacity availability. Canadian Solar's late stage utility-scale project pipeline in Japan stood at 405MW as of the end of the second quarter of 2014. During the third quarter of 2014 the company successfully added 85.5MW of new projects to its portfolio, and increased its total late stage project pipeline in Japan to 490.5MW. Approximately 150MW these projects already have full grid connection approval, and are in the construction permitting stage. The company is currently actively evaluating over 200MW of additional projects for acquisition, and maintains its goal to increase its late-stage pipeline in Japan to approximately 550-600MW by the end of 2014. Kyushu has temporarily suspended grid-connection approvals pending an evaluation of its available grid capacity, which it expects to complete by the second quarter of 2015. Projects that have full grid connection approval, are not suspended, and are moving ahead according to plan. Ten of the Company's projects within the Kyushu area representing a total of 95.6 MW have received full grid connection approval. The company expects these ten projects to move ahead according to plan. Only one of the company's projects in the Kyushu area, namely, "Shibushi-Uchinokura" totaling 2.3 MW has not received full grid connection approval, and as a result is affected by the temporary suspension. Canadian Solar has three projects in the Tohoku area totaling 135MW. The Company continues to work with Tohoku to develop these projects, and at this point it expects them to eventually reach approval. These three projects are originally targeted to reach commercial operation in late 2016 or 2017, and therefore allow sufficient time to accommodate the utility's grid capacity study.
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