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May 6, 2013
20:25 EDTEMR, EMR, OAK, OAK, HFC, HFC, CHTR, CHTR, PRGO, PRGO, FE, FE, HCN, HCN, DTV, DTV, EOG, EOG, NRG, NRGNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Emerson Electric (EMR), consensus 78c; EOG Resources (EOG), consensus $1.17; DIRECTV (DTV), consensus $1.08; Health Care REIT (HCN), consensus 91c; FirstEnergy (FE), consensus 68c; Perrigo (PRGO), consensus $1.44; Charter Communications (CHTR), consensus (61c); HollyFrontier (HFC), consensus $1.73; Oaktree Capital Group (OAK), consensus $1.53; NRG Energy (NRG), consensus (28c).
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September 29, 2015
12:35 EDTPRGOPerrigo shareholders pressure company to explore sale, Reuters says
Certain Perrigo (PRGO) shareholders have requested that company explore a sale, hoping for an alternative to Mylan's (MYL) approximately $25B hostile bid, Reuters reports, citing people familiar with the matter. The pressure represents a challenge to Perrigo's defense strategy, the report says. Some of the company's shareholders view Novartis (NVS), Sanofi (SNY), Procter & Gamble (PG), and Colgate-Palmolive (CL) as potential suitors, the report says. Reference Link
12:23 EDTPRGOPerrigo shareholders pressure company to explore sale, Reuters says
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09:29 EDTEOGDeutsche Bank to hold a conference
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09:26 EDTNRGWolfe Research to hold a conference
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September 28, 2015
11:01 EDTFEFENOC Beaver valley Power Station Unit 2 begins refueling, maintenance
FirstEnergy Nuclear Operating Company, or FENOC, a subsidiary of FirstEnergy Corp., announced its Beaver Valley Power Station Unit 2 in Shippingport, Pa., shut down at 12:01 a.m. on Saturday, September 26, for scheduled refueling and maintenance. While the unit is offline, one-third of the 157 fuel assemblies will be replaced and numerous safety inspections will be conducted, including inspections of the unit's reactor vessel head, turbine and electrical generator. In addition, preventative maintenance to ensure continued safe and reliable operations will be performed on major components including the plant's three steam generators, which convert super-heated water from the reactor to steam which turns the plant's turbine to create electricity, as well as various pumps, motors, valves and the cooling tower. More than 1,000 temporary contractor workers and FENOC and FirstEnergy employees will supplement the Beaver Valley workforce during the outage.
09:12 EDTCHTRRovi news a 'small positive first step,' says JPMorgan
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07:46 EDTPRGOUBS to hold a field trip
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05:06 EDTHFCStocks with implied volatility movement; HFC IBB
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September 25, 2015
13:51 EDTPRGOBMO's pharma predictions for rest of year include take on Mylan, Perrigo
BMO Capital analyst David Maris rolled out his rest of year predictions for the Specialty Pharmaceuticals space. Among them is his belief that Mylan (MYL) will be unsuccessful in acquiring Perrigo (PRGO). Perrigo will either be acquired by another company or make an acquisition itself, Maris tells investors in a research note. His other predictions include Jazz Pharmaceuticals (JAZZ) proving to be a good buying opportunity amidst the current negative sentiment and ZS Pharma (ZSPH) offering upside following the recent pullback given the potential for a near-term buyout and prospects for its "best in class drug for hyperkalemia" winning approval in 2016.
10:48 EDTCHTRMorgan Stanley cautious on media, but sees several stocks punished too hard
Morgan Stanley cut its price targets on a number of media companies, citing the impact of cord cutting and skinny bundles. The firm also reduced its outlook for the pay-TV sector due to its belief that the adoption of skinny bundles will accelerate, while the outlook for cable TV ads has deteriorated slightly, given macro pressures. The firm kept a Cautious view on the media sector, but also identified several stocks in the space that it thinks have been punished too harshly by investors recently. WHAT'S NEW: TV networks in general, and cable networks in particular, have the highest margins in media and are encountering increased top and bottom line competitive pressures, Morgan Stanley analyst Benjamin Swinburne believes. On the top line, they are being hit by ratings and ad pressures as well as cord cutting and distribution consolidation, the analyst stated. Meanwhile, their profit is being hurt by the increased need to obtain new content and intensified competition for content from new sources like Netflix (NFLX) and Google's (GOOG) YouTube, Swinburne said. However, the analyst thinks that media stocks are "starting to get" cheap, given the leverage that many of the companies carry. Swinburne cuts his price target on 21st Century Fox (FOXA) to $31 from $37, on AMC Networks (AMCX) to $86 from $88, on CBS (CBS) to $46 from $56, on Time Warner (TWX) to $72 from $87 and on Viacom (VIAB) to $48 from $60. He kept Overweight ratings on Fox, AMC and CBS, an Equal Weight rating on Time Warner and an Underweight rating on Viacom. OVERDONE DECLINES: Swinburne believes that the declines in three media stocks - CBS, 21st Century Fox, and AMC Networks - have been overdone, while the decline in Comcast's (CMCSA) stock has also been excessive. CBS and 21st Century Fox are "best positioned for the skinny bundle" and have the cheapest valuations relative to their growth rates, Swinburne believes. Meanwhile, AMC Networks has "content momentum" and its EPS can exceed expectations, the analyst believes. Comcast is gaining share in the broadband Internet market, could take share in video soon, and has sufficient scale and offerings to benefit from the increased popularity of skinny bundles, according to the analyst, who kept an Overweight rating on the stock. The media sector could benefit from consolidation going forward, added Swinburne, who recommended that investors interested in buying potential takeover targets in the space focus on AMC Networks, MSG Networks (MSG) and Dreamworks Animation (DWA). He kept Overweight ratings on all three of those stocks. OTHERS TO WATCH: Besides Comcast, other pay TV companies include DISH Network (DISH) and Charter Communications (CHTR). PRICE ACTION: In early trading, Fox A shares lost 0.5% to $25.83, AMC fell 0.3% to $73.29, CBS added 0.2% to $41, Time Warner was little changed at $67.66 and Comcast A shares added 0.6% to $57.17.
September 24, 2015
15:24 EDTPRGOMylan says Perrigo lawsuit 'without merit'
Mylan (MYL) believes that the Perrigo (PRGO) suit filed in Israel is entirely without merit and that Mylan's offer in Israel is valid and proper in all respects. With that said, Perrigo's efforts are entirely futile, as all Perrigo shareholders-institutional and retail, including those in Israel-have always been free to switch their holdings at any time from the Tel Aviv Stock Exchange to the New York Stock Exchange, through a simple, fully automated, well-established system by notifying their broker. As a result, shareholders can participate fully in Mylan's compelling offer without regard to any lawsuits in Israel or any other frustrating actions pursued by Perrigo in Israel. Further, as Mylan has previously stated publicly, it has been its intent and desire to list Mylan's shares on the TASE to maintain liquidity in Israel for the convenience of those shareholders in Israel who prefer to trade on the TASE, and Mylan is already well-advanced in the process of submitting its application to the TASE and the Israel Securities Authority, and is committed to continuing to work closely with these parties to complete this process.
September 23, 2015
13:34 EDTCHTRLiberty Broadband shareholders approve proposals related to Charter merger
Liberty Broadband (LBRDA, LBRDK) announced that at its special meeting of stockholders, the holders of Liberty's common stock entitled to vote thereat approved both proposals presented at the meeting relating to Liberty's issuance of shares of its Series C common stock to third party investors, the proceeds of which will fund all or a portion of Liberty's purchase of $4.3B of stock of a new publicly traded Charter Communications (CHTR) following its proposed merger with Time Warner Cable (TWC), all as previously announced.
07:10 EDTNRGExelon weakness creates buying opportunity, says SunTrust
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06:16 EDTPRGOMylan countersues Perrigo, cites tender offer 'misstatements,' Reuters reports
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September 21, 2015
16:51 EDTCHTRTime Warner Cable confirms shareholder approval of merger with Charter
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16:42 EDTNRGNRG Energy announces $251M share repurchase authorization
NRG Energy announced the next phase of the 2015 Capital Allocation Plan with authorization to repurchase $251M of its common stock, comprised of $51M remaining from the previously announced share repurchase program and an additional $200M. The authorization will be implemented through a 10b5-1 trading plan immediately.
15:58 EDTCHTRCharter stockholders approve Time Warner Cable, Bright House transactions
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11:12 EDTCHTRTime Warner Cable stakeholders approve Charter takeover, Reuters reports
Time Warner Cable (TWC) shareholders have approved its $56B takeover by Charter Communications (CHTR), Reuters reports, citing preliminary votes at a special shareholder meeting. Reference Link
07:25 EDTNRGNRG Energy risk/reward 'excellent' at current levels, says Deutsche Bank
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05:46 EDTPRGOMylan reinstated with an Equal Weight at Barclays
Barclays analyst Douglas Tsao reinstated Mylan (MYL) with an Equal Weight rating and $57 price target. The analyst expects uncertainty around the company's tender offer for Perrigo (PRGO) to weigh on the shares over the near term.
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