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News Breaks
June 17, 2014
12:29 EDTNUAN, PZZA, DPZDomino's, Papa John's diverge after analysts differ on pizza makers
Shares of two pizza chains, Domino's Pizza (DPZ) and Papa John's (PZZA), are moving in opposite directions after Bank of America Merrill Lynch downgraded the first and KeyBanc was upbeat on the second. WHAT'S NEW: Bank of America Merrill Lynch analyst Joseph Buckley downgraded Domino's Pizza to Underperform from Neutral in a note to investors earlier today. Domino's is trading at a valuation that is about 15% higher than the average level of its peers, Buckley estimated. However, the company's 2014 free cash flow yield is 3.7%, significantly below the peer average of 4.3%, Buckley stated. Moreover, the pizza space remains highly competitive, warned the analyst, who cut his price target on the shares to $68 from $77. Conversely, KeyBanc was upbeat on Papa John's, as the firm raised its second quarter estimates for the company above consensus levels after performing channel checks. Papa John's same-store sales momentum has continued this quarter, as it is benefiting from higher average ticket and transaction gains, KeyBanc believes. Papa John's should also benefit from lower than expected cheese prices, market share gains in the U.S., and higher overseas profits, according to the firm, which kept a $53 price target and reiterated a Buy rating on the shares. WHAT'S NOTABLE: Domino's yesterday announced that it was launching a mobile app that will enable consumers to order pizzas with voice commands. Domino's developed the app in conjunction with Nuance Communications (NUAN), which develops voice technology solutions. PRICE ACTION: In early afternoon trading, Domino's Pizza fell 1.5% to trade near $71 and Papa John's rose 0.7% to $42.61.
News For DPZ;PZZA;NUAN From The Last 14 Days
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November 30, 2015
07:44 EDTNUANRadiological Society of North America to hold annual meeting
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November 24, 2015
06:41 EDTDPZDomino's launches "Easy Order" button, Business Insider says
Domino's is trying to make pizza order even simpler with the advent of its "Easy Order" button, Business Insider reports. The company is releasing a physical button in a cardboard box that links over Bluetooth to the pizza chain's mobile app to allow customers order pizzas with the push of a button, the report says. Reference Link
November 20, 2015
05:34 EDTNUANStocks with implied volatility below IV index mean; NUAN RAD
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November 19, 2015
10:25 EDTNUANOptions with decreasing implied volatility
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10:00 EDTPZZAOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Dick's Sporting (DKS) upgraded to Buy from Neutral at Monness Crespi... Fairchild (FCS) upgraded to Neutral from Underperform at Credit Suisse... Fiesta Restaurant (FRGI) upgraded to Strong Buy from Outperform at Raymond James... General Dynamics (GD) upgraded to Buy from Hold at Argus... Genomic Health (GHDX) upgraded to Outperform from Market Perform at Cowen... National Grid (NGG) upgraded to Outperform from Sector Perform at RBC Capital... ON Semiconductor (ON) upgraded to Buy from Neutral at Citi... Papa John's (PZZA) upgraded to Buy from Neutral at Sidoti... QEP Resources (QEP) upgraded to Buy from Neutral at Goldman... Seagate (STX) upgraded to Buy on selloff, dividend yield at Craig-Hallum... Sunoco (SUN) upgraded to Outperform at Credit Suisse... Tetraphase (TTPH) upgraded to Buy from Neutral at SunTrust... Wendy's (WEN) upgraded to Conviction Buy from Neutral at Goldman.
08:57 EDTPZZAPapa John's upgraded to Buy from Neutral at Sidoti
Sidoti upgraded Papa John's to Buy based on valuation and maintained its $70 price target on shares.
November 18, 2015
06:12 EDTDPZApple Pay coming to Domino's by end of year, Cinnabon in 2016, AP reports
Apple (AAPL) yesterday said that company-owned Domino's (DPZ) pizza outlets will be accepting Apple Pay by the end of 2015, while Cinnabon plans to integrate the mobile payments solution in its stores in 2016, The Associated Press reports. Reference Link
November 17, 2015
12:46 EDTNUANOn The Fly: Top stock stories at midday
Stocks on Wall Street were higher at midday after better than expected earnings from Wal-Mart (WMT) and Home Depot (HD) helped the Dow build on yesterday's gains. The market also received a boost from an in-line consumer prices report, which may give the Fed the ammunition it needs to begin to raising interest rates from their record-low levels. ECONOMIC EVENTS: In the U.S., the consumer price index rose 0.2% in October, as expected. When food and energy prices are stripped out, the "core" CPI also rose 0.2%, also matching the consensus forecast. Industrial production slid 0.2% in October, versus expectations for it to have risen 0.1%. Capacity utilization came in as expected at 77.5%. NAHB's home builder sentiment index fell 3 points to 62 in November, versus expectations for a reading of 64. COMPANY NEWS: Shares of Wal-Mart advanced nearly 5% after the world's largest retailer reported better than expected quarterly earnings and gave a fiscal year profit outlook that was higher than expected at the midpoint of the company's range. As part of its report, Wal-Mart noted that comp sales at Walmart U.S. rose 1.5% in the quarter compared to last year, marking the fifth consecutive quarter of positive comparable sales growth. Another retail giant and fellow Dow member, Home Depot, gained more than 3.5%. Missing out on the retail rally, however, was Dick's Sporting Good (DKS), which tumbled over 9.5% after giving guidance for the fourth quarter and fiscal 2015 that both missed consensus estimates. MAJOR MOVERS: Among the notable gainers was Nuance (NUAN), which rallied 17% after analysts raised their price targets on the company's stock following upbeat fourth quarter earnings. Also higher was TJX (TJX), which gained 4% after reporting quarterly earnings and guiding for the fourth quarter and fiscal 2016. Among the notable losers was SunEdison (SUNE), which fell 21% after Deutsche Bank lowered its price target on the company's shares to $16 from $28. Also lower was Urban Outfitters (URBN), which fell 8% after no fewer than three analyst downgraded the company's shares following its Q3 earnings report. INDEXES: Near midday, the Dow was up 39.99, or 0.23%, to 17,523.00, the Nasdaq was up 17.91, or 0.36%, to 5,002.53, and the S&P 500 was up 3.54, or 0.17%, to 2,056.73.
10:48 EDTNUANNuance rises after earnings as analysts point to bookings as positive sign
Shares of Nuance Communications (NUAN) climbed in morning trading after analysts from Deutsche Bank and Oppenheimer raised their price targets on the company following upbeat fourth quarter earnings. WHAT'S NEW: After the market close yesterday, Nuance reported Q4 earnings per share of 41c, beating analyst estimates of 35c, on revenue of $504.1M, just short of consensus $507.84M. The company provided guidance for fiscal 2016, saying it expects earnings per share for the year in the range of $1.35-$1.45 on revenue of $1.95B-$2B. Nuance also said it expects first quarter EPS of 31c-33c on revenue of $477.8M-$489.8M. WHAT'S NOTABLE: In the same press release, Nuance chief financial officer Dan Tempesta said that the company has made "substantial progress" on its company-wide transformation project. "We expect to continue our improvements in financial performance and lead the company to improved growth in 2016 and beyond," Tempesta said. STREET RESEARCH: Following the quarterly report, Deutsche Bank analyst Nandan Amladi maintained a Buy rating on the company's stock and raised its price target to $30 from $25, citing greater visibility from recurring revenue. Amladi said that Nuance had a "robust" finish to fiscal 2015 and that bookings and recurring revenue metrics were stronger than traditional licenses. The analyst added that the company's outlook leaves some headroom for upside and that its buyback activity should continue its "pronounced" pace heading into FY16. In addition, Oppenheimer analyst Shaul Eyal maintained an Outperform rating on Nuance and raised the price target on the company's shares to $26 from $22, saying that the company's shift towards a more software-as-a-service focused business model shows positive indications. Eyal added that the company's fundamentals are improving and that EPS accretion is supported by an ongoing share repurchase and cost containment measures. PRICE ACTION: In morning trading, Nuance rallied 14.5% to $19.53. OTHERS TO WATCH: Philips (PHG), which reached a collaboration agreement with Nuance a month ago to provide Nuance users its PowerScribe 360 software, was up 1.4% in morning trading.
10:02 EDTNUANHigh option volume stocks
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09:15 EDTNUANOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Nuance (NUAN), up 9.1%... Cheetah Mobile (CMCM), up 7.7%... Eros International (EROS), up 12.8%... Home Depot (HD), up 3.1%...Wal-Mart (WMT), up 2.2%. ALSO HIGHER: Ocera Therapeutics (OCRX), up 14.8% after announcing Phase 1 study results for the company's oral formulation of OCR-002... Fitbit (FIT), up 2.4% after being upgraded to Buy from Neutral at BofA/Merrill. DOWN AFTER EARNINGS: Dicks Sporting Goods (DKS), down 15.4%... Urban Outfitters (URBN), down 12.8%. ALSO LOWER: Osiris Therapeutics (OSIR), up 25.5% after being downgraded to Sell from Hold at Brean Capital... Angie's List (ANGI), down 8.7% after board unanimously determines not to pursue IAC (IACI) proposal... Clovis Oncology (CLVS), down 4.1% after receiving downgrades from Goldman and WallachBeth... Chesapeake Energy (CHK), down 2.5% after being downgraded to Neutral from Buy at Sterne Agee CRT... Cooper Companies (COO), down 2% after being downgraded to Market Perform from Outperform at Wells Fargo.
07:55 EDTNUANNuance price target raised to $26 from $22 at Oppenheimer
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06:36 EDTNUANNuance price target raised to $30 from $25 at Deutsche Bank
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November 16, 2015
18:26 EDTNUANOn The Fly: After Hours Movers
UP AFTER EARNINGS: Nuance (NUAN), up 9.5%. ALSO HIGHER: Ocera Therapeutics (OCRX), up 26.6% after announcing Phase 1 study results for the company's oral formulation of OCR-002. DOWN AFTER EARNINGS: Urban Outfitters (URBN), down 11.5%... Agilent (A), down 1.3%. ALSO LOWER: Wayfair (W), down 2% after Bloomberg reported that Whitney Tilson said that Wayfair is currently his largest short.
16:15 EDTNUANNuance sees Q1 EPS 31c-33c, consensus 31c
Sees Q1 GAAP revenue $477.8M-$489.8M, consensus $490.62M. Sees Q1 Non-GAAP revenue $486M-$498M.
16:13 EDTNUANNuance sees FY16 EPS $1.35-$1.45 consensus $1.38
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16:04 EDTNUANNuance reports Q4 EPS 41c, consensus 35c
Reports Q4 revenue $504.1M, consensus $507.84M. In the fourth quarter of fiscal 2015, Nuance reported GAAP revenue of $504.1M up from $502.3M a year ago. Nuance reported non-GAAP revenue of $513.3M, which includes $9.2M of revenue lost to accounting treatment in conjunction with acquisitions, compared to $520.3M in the fourth quarter of fiscal 2014. Fourth quarter 2015 revenue was negatively affected by currency fluctuations as well. If fourth quarter 2014 currency rates were applied to fourth quarter 2015 non-GAAP revenue, Nuance would have achieved approximately 1% organic non-GAAP revenue growth for the quarter. In the fourth quarter of 2015, total recurring revenue was $347M and represented 68% of total non-GAAP revenue, compared to $325.7M and 63% a year ago. In the fourth quarter of fiscal 2015, Nuance reported net new bookings of $357.4M, up 8.7% from $328.8M a year ago. If fourth quarter 2014 currency rates were applied to Nuance's fourth quarter 2015, net new bookings would have been up 12% from a year ago.
15:02 EDTNUANNotable companies reporting after market close
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13:38 EDTNUANNuance technical comments ahead of results
The stock has been trading in a range since September of this year that is defined largely by a low at $16 and a high at $17.75. If the news is bullish, there could be a breakout above the top of the range. Next resistance levels above $17.75 are at $18.49, $18.96, which is the 52-week high, and $19.39. If the news is a negative surprise, there could be a break of the low of the range. Next supports below $16 would be at $15.21, $14.60, and $14.

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