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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 16, 2014
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.
October 9, 2014
18:11 EDTDISDisney CEO Iger says Shanghai Park to avoid Paris' troubles, Bloomberg reports
Disney CEO Bob Iger said the company's theme park in Shanghai, which is slated to open in 2015, will not experience the same problems that its Paris facility did, Bloomberg reports. Reference Link
09:33 EDTVRTXVertex says VX-661 Phase 2 study fully enrolled
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07:22 EDTVRTXCystic Fibrosis Foundation to hold a conference
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October 8, 2014
09:20 EDTDISJ.C. Penney says will expand Disney stops in stores to 680 from 500
09:20 EDTDISJ.C. Penney CEOsays will open more Sephora shops in store
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07:13 EDTDISHulu may cut number ads on Hulu Plus, NY Post reports
Hulu (FOXA, DIS, CMCSA) CEO Mike Hopkins is looking to cut back on the number of ads that appear on Hulu Plus, reports the New York Post. According to an executive close to the company, Hulu and its partners are “always looking at a variety of ways to create the best possible experience for our viewers and advertisers including reducing the ad load." Reference Link
October 7, 2014
07:46 EDTVRTXPTC Therapeutics weakness a buying opportunity, says Oppenheimer
Oppenheimer believes that the Street is underestimating the opportunity for PTC Therapeutics' (PTCT) Translarna in the most severe patients with Cystic fibrosis. The firm thinks the drug is not competitive with, and can potentially be complemented by, therapies from Vertex (VRTX). Oppenheimer views the weakness in PTC as a buying opportunity and keeps its Outperform rating on the shares.
06:01 EDTCTSHCognizant acquires Cadient Group, terms not disclosed
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