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Stock Market & Financial Investment News

News Breaks
April 14, 2014
10:02 EDTAGII, ZBRA, ULTI, QTWO, MA, ECOM, APAM, ACRX, XOOM, SSYS, PCTY, LNKD, CPRX, AI, DDD, V, SRE, OPTT, KIN, BCRXOn The Fly: Analyst Initiation Summary
3D Systems (DDD) initiated with a Neutral at Goldman... AcelRx (ACRX) initiated with a Buy at Roth Capital... Argo Group (AGII) initiated with a Market Perform at Keefe Bruyette... Arlington Asset Investment (AI) initiated with a Neutral at Credit Suisse... Artisan Partners (APAM) initiated with an Outperform at RBC Capital... BioCryst (BCRX) initiated with an Outperform at Brinson Patrick... Catalyst Pharmaceutical (CPRX) initiated with an Overweight at Piper Jaffray... ChannelAdvisor (ECOM) initiated with a Buy at Janney Capital... Kindred Biosciences (KIN) initiated with an Outperform at Leerink... LinkedIn (LNKD) initiated with an Overweight at Atlantic Equities... MasterCard (MA) initiated with a Sector Perform at Pacific Crest... Ocean Power (OPTT) initiated with a Buy at H.C. Wainwright... Pandora (P) initiated with a Buy at SunTrust... Paylocity (PCTY) initiated with a Buy at Deutsche Bank... Q2 Holdings (QTWO) initiated with a Buy at Canaccord... Sempra Energy (SRE) initiated with a Buy at UBS... Stratasys (SSYS) initiated with a Buy at Goldman... Ultimate Software (ULTI) initiated with a Buy at Deutsche Bank... Visa (V) initiated with an Outperform at Pacific Crest... Xoom (XOOM) initiated with a Buy at Buckingham... Zebra Technologies (ZBRA) initiated with a Buy at Sidoti.
News For DDD;ACRX;AGII;AI;APAM;BCRX;CPRX;ECOM;KIN;LNKD;MA;OPTT;PCTY;QTWO;SRE;SSYS;ULTI;V;XOOM;ZBRA From The Last 14 Days
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July 24, 2015
08:34 EDTACRXAcelRx's Zalviso recommended for marketing authorization by Europe's CHMP
AcelRx Pharmaceuticals announced that the Committee for Medicinal Products for Human Use, or CHMP, of the European Medicines Agency, has adopted a positive opinion for Zalviso. The opinion, while not binding, recommends marketing authorization for Zalviso for the management of acute moderate-to-severe post-operative pain in adult patients. Zalviso is an investigational drug-device combination product designed to deliver a sublingual formulation of sufentanil 15 mcg via a proprietary pre-programmed, non-invasive, patient-controlled device. The positive opinion by the CHMP will next be reviewed by the European Commission for central marketing authorization in the European Union. If approved, Grunenthal expects to launch Zalviso beginning in 1H16. In addition, AcelRx would be eligible to receive a $15M milestone payment from AcelRx's licensee in Europe, Grunenthal, upon approval. AcelRx had previously received CE Mark approval of the Zalviso device and ISO certification of its quality management system issued by the British Standards Institution.
06:46 EDTVVisa CEO: FIFA response to scandal 'wholly inadequate,' WSJ reports
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July 23, 2015
17:43 EDTVVisa up 7% after reporting Q3 results
16:45 EDTVVisa files automatic mixed securities shelf
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16:30 EDTVVisa looks to resolve discussions with Visa Europe by October-end
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16:12 EDTVVisa backs FY15 annual operating margin in mid 60s
Sees FY15 annual free cash flow greater than $6B.
16:11 EDTVVisa sees FY15 common stock EPS growth mid-teens range
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16:11 EDTVVisa moves up after earnings news
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16:08 EDTVVisa reports Q3 payments volume growth 11%
Reports payments volume, on a constant dollar basis, for the three months ended March 31, 2015, on which fiscal third quarter service revenue is recognized, was 11% over the prior year at $1.2 trillion. Payments volume growth, on a constant dollar basis, for the three months ended June 30, 2015, was 11% over the prior year at $1.3 trillion. Cross-border volume growth, on a constant dollar basis, was 8% for the three months ended June 30, 2015. Total processed transactions, which represent transactions processed by VisaNet, for the three months ended June 30, 2015, were 18.0 billion, an 8% increase over the prior year. As a result of recent changes in Russian National Payment System law, the Company has transitioned the processing of Russian domestic transactions to the Russian National Payment Card System during the fiscal third quarter. This impacted processed transactions growth negatively by approximately 2 percentage points during the quarter.
16:07 EDTVVisa reports Q3 EPS 74c, consensus 59c
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15:04 EDTVNotable companies reporting after market close
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14:17 EDTMA, VEarnings Watch: Visa reports after 'top pick' mention by Bernstein
Visa (V) is expected to report third quarter results after the close on July 23, with a conference call scheduled for 5:00 pm ET. Visa is a global payments technology company. EXPECTATIONS: Analysts are looking for earnings per share of 59c on revenue of $3.36B. EPS consensus ranges 54c-65c on a revenue range of $3.32B-$3.41B, according to First Call. LAST QUARTER: On April 30, Visa reported second quarter EPS of 63c against expectations for 62c, and reported revenue of $3.41B versus estimates of $3.34B. During its quarterly conference call, the company noted that "we're now looking at Q3 fully diluted EPS being 6c-8c lower than analyst's current expectations," adding that results are likely to be pressured by higher client incentives. Visa executives also disclosed expectations for a "meaningful step-up" in Q3 expense growth, with a number of marketing and technology initiatives having shifted towards the latter half of the year. PEERS: American Express (AXP) reported quarterly earnings after the close on July 22, with earnings above consensus estimates but revenue somewhat below expectations, noting a "significant" impact from a stronger U.S. dollar on international operations. NEWS: On May 8, Bloomberg reported that Visa was in preliminary talks to acquire Visa Europe for $15B-$20B, according to sources. On June 3, Visa and FireEye (FEYE) announced a strategic partnership to co-develop tools and services to protect against cyber attacks targeting payment data. On June 5, the Wall Street Journal reported that, due to Visa and MasterCard (MA) having finalized their card-security technology, Google's (GOOG) Android Pay will not be earning any transaction fees from credit-card issuers, and on June 17, Reuters reported that a U.S. appeals court affirmed that American Express can no longer block businesses from steering customers towards competitor cards, such as those of Visa. STREET RESEARCH: On May 19, Pacific Crest's Josh Beck shifted his preference to MasterCard from Visa, though he noted that the shift was simply due to Visa's outperformance over the past year. On May 20, Bernstein noted that the risk/reward ratio for both Visa and MasterCard looks positive, with the companies offering secular growth, "compelling" business models, and modest risk. More recently on July 14, Bernstein named Visa among its "Vintage Values 2016" list, citing the company's U.S. acquirer price increase and expectations that the Visa Europe put option will be exercised this year. PRICE ACTION: Shares of Visa have fallen just under 1% to $71.41 ahead of Thursday's earnings report.
14:11 EDTVVisa July weekly straddle 71.5 priced for 3.3% movement into Q3
10:24 EDTDDDZVerse announces strategic partnership and commercial agreement with 3D Systems
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July 22, 2015
15:01 EDTV, MAEarnings Watch: American Express reports after several 'top pick' mentions
American Express (AXP) is expected to report second quarter earnings after the close on July 22, with a conference call scheduled for 5:00 pm ET. American Express is a global financial services company specializing in credit card and pre-paid card products and services. EXPECTATIONS: Analysts are looking for earnings per share of $1.32 on revenue of $8.46B. The consensus range is $1.23-$1.41 for EPS and $8.29B-$9.01B for revenue, according to First Call. LAST QUARTER: On April 16, American Express reported first quarter EPS of $1.48 against expectations for $1.37, and revenue of $7.95B versus estimates of $8.21B. The company reported ROE of 29% and guided towards flat to modestly down FY15 EPS as it ramps investments to offset the March 2016 expiration of its Costco (COST) partnership. NEWS: On May 12, American Express authorized the repurchase of up to 150M company shares while also raising its dividend 12% to 29c per share. During the Bernstein Strategic Decisions Conference on May 28, company executives remarked that a "range" of co-brand deals would be coming up for American Express, adding that the loss of the Costco contract was not the "be-all, end-all" for the company. On June 17, Reuters reported that a U.S. appeals court affirmed a prior ruling that American Express can no longer block businesses from steering customers towards competitor cards, such as those of Visa (V) or Mastercard (MA). STREET RESEARCH: On April 27, Nomura downgraded American Express to Neutral from Buy, citing minimal upside to 2015 and 2016 estimates amid a lack of near-term catalysts. Meanwhile, Bernstein upgraded the stock to Outperform from Market Perform on May 6. On May 18, Deutsche Bank reiterated a Buy rating and $90 price target on American Express shares, saying it sees a $750M-$850M annual revenue opportunity through the "Plenti" loyalty program coalition. On June 2, Bernstein said it expects credit card volumes to grow 10%-12% annually over the next five years, adding that American Express, Capital One (COF) and Synchrony Financial (SYF) are its favorites in the sector. Following meetings with American Express executives, Citi called American's risk/reward ratio "attractive" on June 4, and on July 8, Deutsche Bank said it was positive on credit card stocks going into second quarter earnings, with American Express named a top pick. PRICE ACTION: Shares of American Express are near flat to $78.96 ahead of Wednesday's earnings report.
13:26 EDTCPRXCatalyst Pharmaceutical initiates rolling NDA submission for Firdapse
Catalyst Pharmaceuticals announced the initiation of a rolling submission of a New Drug Application to the U.S. FDA for Firdapse for the treatment of Lambert-Eaton Myasthenic Syndrome. Firdapse has received Breakthrough Therapy Designation from the FDA for the treatment of LEMS, as well as orphan drug designations for LEMS and congenital myasthenic syndromes. The company said, “We expect to complete the submission of the NDA in the fourth quarter of 2015, at which time we will be requesting a Priority Review of our application. We will continue to work closely with the FDA as we seek approval of the NDA."
12:12 EDTVVisa July weekly volatility elevated into Q3 and outlook
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July 21, 2015
10:14 EDTXOOMHigh option volume stocks:
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10:01 EDTAPAMOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ASML (ASML) upgraded to Accumulate from Neutral at SNS Securities... Anacor (ANAC) upgraded to Buy from Neutral at Goldman... Artisan Partners (APAM) upgraded to Outperform from Neutral at Credit Suisse... Canadian National (CNI) upgraded to Buy from Hold at Canaccord... General Mills (GIS) upgraded to Outperform from Sector Perform at RBC Capital... Halliburton (HAL) upgraded to Accumulate from Neutral at Global Hunter... Harte-Hanks (HHS) upgraded to Outperform from Market Perform at BMO Capital... MDC Partners (MDCA) upgraded to Overweight from Neutral at Piper Jaffray... SABMiller (SBMRY) upgraded to Buy from Neutral at Nomura... Sanmina (SANM) upgraded to Neutral from Underperform at Longbow... Santander Mexico (BSMX) upgraded to Neutral from Sell at Goldman... Sherwin-Williams (SHW) upgraded to Buy from Neutral at Northcoast... Southwestern Energy (SWN) upgraded to Buy from Neutral at Global Hunter... Verisk Analytics (VRSK) assumed with an Outperform at Keefe Bruyette.
06:17 EDTAPAMArtisan Partners upgraded to Outperform from Neutral at Credit Suisse
Credit Suisse upgraded Artisan Partners to Outperform and increased its price target to $57 from $50. The firm believes Q2 flows improved by $2B and expects a positive inflection during Q3. Credit Suisse raised organic growth forecasts to 4%-5% and said its high active share business and DOL Rule compliant fund structures will drive market shares gains.
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