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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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July 22, 2014
06:07 EDTDDDuPont says Performance Chemicals separation still on track for mid-2015
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06:04 EDTDDDuPont backs FY14 EPS view of $4.00-$4.10, consensus $4.03
DuPont's FY14 EPS guidance is based on expected growth in global industrial market demand.
06:03 EDTDDDuPont sees Q3 EPS $1.25-$1.35, may not compare to consensus 60c
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06:02 EDTDDDuPont reports Q2 EPS $1.17, consensus $1.17
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05:58 EDTDDDuPont raises Q3 dividend by 4% to 47c per share
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July 21, 2014
16:00 EDTGILDOptions Update; July 21, 2014
iPath S&P 500 VIX Short-Term Futures up 65c to 28.53. Option volume leaders: AAPL FB NFLX DG CMCSA GILD PBR TWTR TSLA according to Track Data.
15:30 EDTDDNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Verizon (VZ), consensus 90c; Coca-Cola (KO), consensus 63c; Comcast (CMCSA), consensus 72c; United Technologies (UTX), consensus $1.70; McDonald's (MCD), consensus $1.44; Altria Group (MO), consensus 66c; du Pont (DD), consensus $1.17; Lockheed Martin (LMT), consensus $2.66; Kimberly-Clark (KMB), consensus $1.50; Travelers (TRV), consensus $2.07; Ingersoll-Rand (IR), consensus $1.11; State Street (STT), consensus $1.26; TD Ameritrade (AMTD), consensus 34c; Harley-Davidson (HOG), consensus $1.46; Polaris Industries (PII), consensus $1.39; Crocs (CROX), consensus 31c.
09:38 EDTGILDActive equity options trading on open
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08:11 EDTTEVAArena Pharma' subsidiary enters into agreement for Belviq with Teva subsidiary
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08:01 EDTTEVATeva completes acquisition of Labrys
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07:21 EDTGILDGilead could be hurt by new HCV drugs, says Wells Fargo
Noting that data on a new Merck (MRK) HCV treatment is expected in November, Wells Fargo thinks Merck's HCV drug could be combined with Gilead's (GILD) Sovaldi to shorten the duration of treatment to four weeks. Other companies could take similar actions, and Gilead's per patient revenues would be significantly reduced if this occurs, the firm warned. However, it continues to have an upbeat outlook on Gilead heading into what it sees as a strong quarter and is still upbeat on the company's long-term HCV opportunity. It keeps an Outperform rating on Gilead.
06:43 EDTGILDGrowing market for hepatitis-C treatment prompts legal scramble, WSJ says
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July 20, 2014
12:46 EDTGILDGilead drug cocktail helps treat HIV/HCV-coinfected patients, JAMA says
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July 18, 2014
12:48 EDTCSIQ, FSLR, SPWRSolar stocks rise after successful IPO in space
Shares of solar energy companies are rising after a solar energy company's subsidiary surged on its first day of trading. WHAT'S NEW: The shares of SunEdison (SUNE) subsidiary TerraForm (TERP) are surging 36% in early afternoon trading. TerraForm Power opened at $33.26 and was trading near $34 per share at midday, after its initial public offering priced at $25 per share. TerraForm was formed to own and operate assets that generate clean power and the company plans to pay dividends. In a note to investors yesterday, Josh Baribeau, an analyst at Canaccord Genuity, wrote that TerraForm is a Yieldco. Subsidiaries of energy companies that own power plants and projects, Yieldcos typically trade on stock exchanges. Noting that TerraForm's IPO had priced at the high end of its expected range yesterday and was well oversubscribed, Baribeau wrote that this outcome reflects the strong demand for Yieldcos among investors. The Yieldcos provide investors with yield which is in high demand in today's low interest rate environment, the analyst stated. Additionally, as a result of the strong demand for Yieldcos' stocks, they provide their parent companies with "cheap and abundant capital," the analyst stated. SunEdison and TerraForm will grow their combined cash available for distributions at a faster rate than their target of 15% over the next three years, helping SunEdison's stock rise, the analyst stated. He kept a $30 price target and Buy rating on SunEdison. WHAT'S NOTABLE: A number of solar energy companies that own solar projects could form Yieldcos, research firm Trefis wrote in a Forbes column last month. Like Canaccord's Baribeau, Trefis believes that Yieldcos provide their parent companies with a cheap source of funding. Yieldcos also distribute most of their cash through dividends, Trefis stated. The firm named First Solar (FSLR) and SunPower (SPWR) as companies that could launch their own Yieldcos. PRICE ACTION: In early afternoon trading, Terraform jumped 36% to $34 and SunEdison was down 1% to $22.76. Meanwhile, First Solar rose 1.4% to $62.29, SunPower climbed 2.7% to $38.71, JinkoSolar gained 2.8% to $26.75, and Canadian Solar (CSIQ) advanced 3% to $28.71.
05:19 EDTLDKLDK Solar announces board now has 9 members after resignation of 2 directors
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July 17, 2014
08:02 EDTYGEYingli Green Energy to supply PV modules to project in China's Hubei Province
Yingli Green Energy will supply 3 MWs of PV modules to a demonstration project for distributed generation in Wuhan, the capital of Hubei province in eastern China. Construction of the project will begin in September and is expected to be completed within 5 months.
July 16, 2014
16:04 EDTDDPeltz says DuPont a complex business that can be simplified
Peltz says he continues to be in talks with DuPont's management.
11:57 EDTGILDStocks with call strike movement; GILD YHOO
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08:48 EDTTEVATeva says ISS supports company's nominees, shareholders' meeting proposals
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07:08 EDTCSIQCanadian Solar responds to WTO ruling against U.S. PV import duties
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