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Stock Market & Financial Investment News

News Breaks
May 7, 2012
16:38 EDTDIS, ABT, VRTX, CECO, CTSH, TPXOn The Fly: Closing Wrap
Stocks on Wall Street were mixed, as investors had a muted reaction to the anti-austerity backlash evidenced in two elections in Europe. Stock futures pointed to a lower open throughout the pre-market trading session but moved off their low prior to the opening bell. The futures action led to a lower but stable open with the market essentially hitting its lows soon after the open. The market began to drift off its lows after the first hour of trading and by midday made it back to positive ground. The market continued to drift for most the remainder of the session until a downturn into the close pushed the S&P and Nasdaq back down to finish the day near the flat line... ECONOMIC EVENTS: In the U.S., consumer credit increased by $21.36B in March, versus expectations of an increase of $9.8B. In Europe, Francois Hollande defeated Nicolas Sarkozy in France's presidential election and voting in Greece’s general election showed a dramatic swing toward anti-austerity groups and away from the pro-Europe parties... COMPANY NEWS: Disney's (DIS) "The Avengers" set U.S. records with its $200M opening weekend, powering the company's shares 2% higher... Abbott Labs (ABT) announced it reached a settlement and will pay $1.6B in connection with its marketing of Depakote... MAJOR MOVERS: Among the notable gainers were Vertex Pharma (VRTX), up $20.71, or 55.36%, to $58.12, amid at least three upgrades and a number of price target increases after the company reported interim data from a Phase 2 study of a combination therapy for certain cystic fibrosis patients, and Career Education (CECO), up 56c, or 8.70%, to $7.00, after the Accrediting Council for Independent Colleges and Schools removed its show-cause directive on all 71 Career Education campuses accredited by the body and the company said four of its campuses were placed on probation. Noteworthy losers included Cognizant (CTSH), down $13.35, or 19.16%, to $56.31, after the company's earnings beat consensus but it said its revising its guidance to be more conservative after seeing slower-than-expected acceleration in demand, and Tempur-Pedic (TPX), down $8.42, or 14.85%, to $48.29, as Raymond James said in a note to investors that the company will offer a discount on one of its most profitable mattresses, the Cloud Supreme, which the firm said was unusual for the company... INDICES: The Dow lost 29.74, or 0.23%, to 13,008.53; the Nasdaq rose 1.42, or 0.05%, to 2,957.76; and the S&P 500 added 0.48, or 0.04%, to 1,369.58.
News For DIS;ABT;VRTX;CECO;CTSH;TPX From The Last 14 Days
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October 21, 2014
15:18 EDTVRTXPanel votes Vertex CF drug safe, works for R117H mutation, Bloomberg reports
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07:44 EDTABTAbbott volatility elevated into Q3 and outlook
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07:11 EDTVRTXFDA Pulmonary-Allergy Drugs Advisory Committe to hold a meeting
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October 17, 2014
10:27 EDTVRTXVertex FDA panel expected to be positive at Piper Jaffray
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10:26 EDTVRTXFDA panel asked to consider benefit of Vertex drug in younger CF patients
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10:16 EDTCECOHigh option volume stocks
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October 16, 2014
10:01 EDTDISOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Akamai (AKAM) downgraded to Market Perform from Outperform at Wells Fargo... CGG SA (CGG) downgraded to Reduce from Neutral at Nomura... Central Valley Community (CVCY) downgraded to Hold from Buy at Sandler O'Neill... DSM (RDSMY) downgraded to Neutral from Buy at Nomura... Disney (DIS) downgraded at Guggenheim... Francesca's (FRAN) downgraded to Underperform from Outperform at Macquarie... Netflix (NFLX) downgraded to Fair Value from Buy at CRT Capital... Nordstrom (JWN) downgraded to Neutral from Outperform at Macquarie... Norfolk Southern (NSC) downgraded at Credit Suisse... Rio Tinto (RIO) downgraded to Market Perform at Cowen... Seadrill (SDRL) downgraded to Reduce from Neutral at Nomura... Ternium (TX) downgraded to Neutral from Overweight at JPMorgan... Urban Outfitters (URBN) downgraded to Neutral from Outperform at Macquarie... Viacom (VIAB) downgraded at BofA/Merrill... eBay (EBAY) downgraded to Underperform from Buy at CLSA... lululemon (LULU) downgraded to Underperform from Neutral at Macquarie.
09:39 EDTDISActive equity options trading on open
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07:45 EDTDISDisney downgraded at Guggenheim
As previously reported, Guggenheim downgraded Disney to Neutral from Buy. The firm downgraded shares based on relative valuation, risk to domestic pay-TV subscriber growth, challenging FY15 film comparisons, and potential for sports-network tiering. Price target lowered to $87 from $96.
07:17 EDTDISDisney downgraded to Neutral from Buy at Guggenheim
October 15, 2014
10:48 EDTABTShire tanks with AbbVie calling board meeting over merger
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07:07 EDTCECOFor profit education positive catalysts outweigh negative, says Wells Fargo
Wells Fargo expects for-profit education stocks to benefit from improved hiring trends and a sale by Corinthian of its assets that, according t othe firm ,would set a valuation floor for the sector. The firm continues to believe that the final gainful employment rule will be neutral to positive for the group. Wells favors the option value on the long side for the sector. Publicly traded companies in the space include American Public Education (APEI), Apollo Education (APOL), Bridgepoint Education (BPI), Career Education (CECO), Corinthian Colleges (COCO), DeVry (DV), Grand Canyon (LOPE), ITT Educational (ESI) and Strayer (STRA).
October 14, 2014
13:59 EDTVRTXVertex mentioned cautiously at BofA/Merrill
07:23 EDTDISCBS more attractive than Disney, says Wells Fargo
Among media and cable stocks, Wells Fargo sees the least risk and most reward potential in CBS (CBS). The firm sees the least reward potential and most risk in Disney (DIS). The firm believes that the market is overestimating the ad declines for CBS, and it thinks that CBS' stock may have finally bottomed. Disney has a relatively expensive valuation and tough comps, added Wells Fargo, which keeps Outperform ratings on both stocks.
October 13, 2014
10:08 EDTVRTXOn The Fly: Analyst Upgrade Summary
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09:23 EDTVRTXVertex price target raised to $131 from $119 at RW Baird
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05:35 EDTVRTXVertex upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray upgraded Vertex Pharmaceuticals to Overweight citing likely approval of the company's Kalydeco plus lumacaftor combination next year. Piper expects Vertex's Cystic Fibrosis sales to grow to $3.1B in 2016 and raised its price target for shares to $125 from $87.50.
October 12, 2014
15:10 EDTDISDisney's Maker Studios to create programming for parent company, Bloomberg says
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October 10, 2014
13:17 EDTDISNielsen to restate some TV rating due to software glitch, Variety reports
Nielsen (NLSN) acknowledged it uncovered a software error on October 6 that had resulted in TV ratings being allocated incorrectly among broadcast and syndication programming since March 2 and that it would restate the ratings accordingly to fix the errors, reported Variety. The company said 98% to 99% of ratings would not be affected by more than .05 of a ratings point and a person familiar with the situation said some TV networks have an expectation that some of their new fall programming will see a very slight uplift due to the restatement, the report noted. The big four broadcast networks are operated by CBS (CBS), Comcast (CMCSA), Disney (DIS) and 21st Century Fox (FOXA). Reference Link
08:24 EDTVRTXVertex price target raised to $117 from $109 at Maxim
Maxim raised its price target for Vertex shares to $117 after the company gave an update at the Cystic Fibrosis Conference. The form keeps a Buy rating on the stock.
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