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November 28, 2012
10:00 EDTVNO, GDP, PES, FTNT, NBR, ETR, IAG, PTEN, HEROOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Akamai (AKAM) upgraded to Overweight from Neutral at Piper Jaffray... Entergy (ETR) upgraded to Outperform from Neutral at Macquarie... Hercules Offshore (HERO) upgraded to Buy from Hold at Deutsche Bank... IAMGOLD (IAG) upgraded to Overweight from Neutral at HSBC... Nabors Industries (NBR) upgraded to Buy from Hold at Deutsche Bank... Patterson-UTI Energy (PTEN) upgraded to Buy from Hold at Deutsche Bank... Pioneer Energy (PES) upgraded to Buy from Hold at Deutsche Bank... Vornado (VNO) upgraded to Buy from Neutral at Citigroup... Fortinet (FTNT) upgraded to Outperform from Perform at Oppenheimer... Goodrich Petroleum (GDP) upgraded to Outperform from Sector Perform at Oberia.
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November 27, 2015
13:22 EDTPESOn The Fly: Top stock stories for Friday
Stocks on Wall Street were mixed following the short Black Friday session. In addition to periodic checks on traffic at malls and big box retailers, the day's media coverage was dominated by discussion of Disney's disclosure that subscribers for ESPN have dropped about 3% from last year's levels. ECONOMIC EVENTS: In the U.S., no major data was released, as several reports that usually come out on Thursdays or Fridays were accelerated into Wednesday due to the holiday. In China, shares of brokerages sold off sharply, with Citic Securities, Founder Securities and China Merchants all falling about 10% on news that the China Securities Regulatory Commission had launched investigations into the firms in an effort to limit short selling and speculation. Amid the rout in the brokerages, the Shanghai Composite index tumbled 5.5%. COMPANY NEWS: Shares of Disney (DIS) fell $3.56, or 3.0%, to $115.11 after the media giant disclosed in a regulatory filing late Wednesday that domestic subscribers for ESPN were estimated to have declined by 3M. As of October 3, ESPN had 92M subscribers in the U.S., as estimated by Nielsen Media Research. In the company's 10-K filing last year, Disney stated that Nielsen estimated that ESPN had 95M subscribers as of September 27, 2014. Disney's weakness weighed on its big media peers as well, with Twenty-First Century Fox (FOX, FOXA) falling 1.2%, Time Warner (TWX) dropping 0.74% and Viacom (VIA, VIAB) sliding 1.8%... Amazon (AMZN) shares were flattish, falling 0.3% despite Adobe Systems estimating that online shoppers in the U.S. would spend $1.7B in online shopping by the end of the day on Thanksgiving, a 22% jump from last year. Additionally, ChannelAdvisor estimated that Amazon had a "strong showing" on Thanksgiving day, calculating that its same-store sales grew 28.9% compared to last year. MAJOR MOVERS: Among the notable gainers was Exact Sciences (EXAS), which rose 3.8% to $9.23 after the Centers for Medicare and Medicaid Services, or CMS, posted the 2016 Clinical Diagnostic Laboratory Fee Schedule. Exact Sciences announced this morning that it has requested that CMS clarify the 2016 reimbursement rate for the company's Cologuard test. Also higher were shares of KaloBios Pharmaceuticals (KBIO), which jumped 30.8% to $34.83 after its new CEO, Martin Shkreli, announced last night via his Twitter account that after speaking with his counsel and advisers that he has decided to stop lending his KaloBios shares out until he "better [understands] the advantages of doing so." Among the noteworthy losers were a number of oil and gas explorers, as Pioneer Energy Services (PES), Stone Energy (SGY) and Southwestern Energy (SWN) fell 8%, 10.2% and 7.2%, respectively, during another down day for oil prices. INDEXES: The Dow fell 14.90, or 0.08%, to 17,798.49, the Nasdaq gained 11.38, or 0.2%, to 5,127.52, and the S&P 500 added 1.24, or 0.06%, to 2,090.11.
November 25, 2015
17:31 EDTIAGIAMGOLD confirms level 104 mining block to reopen
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08:11 EDTIAGIAMGOLD coverage assumed with an Underweight at Morgan Stanley
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November 24, 2015
10:29 EDTFTNTPalo Alto seen adding confidence on IT security demand
The shares of IT security company Palo Alto (PANW) are rising after the company reported stronger than expected results last night. In a note to investors today, JPMorgan wrote that the results "should help restore investor confidence" in demand for IT security systems. WHAT'S NEW: Palo Alto reported first quarter earnings per share of 35c, versus analysts' consensus estimate of 32c. The company's revenue came in at $297M, versus the consensus outlook of $284M. The IT security company provided roughly in-line Q2 EPS guidance, while its Q2 revenue guidance came in slightly above expectations. "Security remains a strategic consideration embedded in virtually every IT decision, (and) as a result, the demand environment remains very healthy, said Palo Alto CEO Mark McLaughlin. ANALYST REACTION: Palo Alto's results should boost investors' confidence in the IT security demand environment, wrote JPMorgan analyst Sterling Auty. Palo Alto's results were "healthy" and the company's customer growth trends continue to be strong, the analyst stated. Moreover, the company is selling more of its products to each customer, Auty reported. As investors shift to valuing the company on cash flow, moving away from their current revenue based valuation method, the stock should rise, according to Auty, who kept a $216 price target and Overweight rating on the name. Palo Alto reported strong results, showing that the company is continuing to gain share in the new, fast growing next generation firewall and advanced threat detection market, according to Stephens analyst Jonathan Ruykhaver. Strong demand, good new products, and a wider distribution network will enable the company to deliver significant share gains and strong growth, believes the analyst, who increased his price target on the stock to $200 from $190. Also very upbeat on Palo Alto was Pacific Crest analyst Rob Owens. The company's growth continued to be "torrid" last quarter and it will clearly be among the winners in the IT security sector, wrote Owens, who raised his price target on the shares to $210 from $190 and kept an Overweight rating on the name. WHAT'S NOTABLE: Other publicly traded companies in the IT security space include Barracuda (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC). PRICE ACTION: In early trading, Palo Alto climbed 7% to $184.22.
10:00 EDTIAGOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Avon Products (AVP) upgraded to Buy from Neutral at Citi... Box (BOX) upgraded to Buy from Neutral at BofA/Merrill... Daimler AG (DDAIF) upgraded to Buy from Neutral at UBS... Emerge Energy (EMES) upgraded on amended credit deal at Stifel... Fairmount Santrol (FMSA) upgraded to Hold from Underperform at Jefferies... IAMGOLD (IAG) upgraded to Hold from Reduce at HSBC... Kinross Gold (KGC) upgraded on acquisitions at RBC Capital... Lowe's (LOW) upgraded to Overweight from Neutral at Atlantic Equities... Nimble Storage (NMBL) upgraded on valuation at DA Davidson... Resolute Energy (REN) upgraded to Equalweight from Underweight at Capital One... Schnitzer Steel (SCHN) upgraded to Equal Weight from Underweight at Morgan Stanley... Webster Financial (WBS) upgraded to Overweight from Neutral at JPMorgan.
05:44 EDTIAGIAMGOLD upgraded to Hold from Reduce at HSBC
HSBC analyst Botir Sharipov upgraded IAMGOLD to Hold citing better value following the 32% pullback in shares over the past month. The analyst lowered his price target for the stock to $1.60 from $1.80.
November 23, 2015
09:02 EDTFTNTFortinet hires Tyson Macaulay as Chief Security Strategist
Fortinet announced that it has expanded its information security services with the appointment of security industry veteran Tyson Macaulay as Chief Security Strategist and vice president of consulting services. In this newly created role, Macaulay will be a trusted advisor to C-Level enterprise customers, helping them take a holistic approach to managing their data security environments in a threat landscape that is rapidly changing and evolving. Macaulay joins Fortinet from Intel Security, where he served as the Chief Technology Officer for Telecommunications Strategy and played an instrumental role in developing security solutions and sales channels through tier-1 carriers, service providers, and telecommunications equipment manufacturers.
November 19, 2015
16:52 EDTHEROCenterbridge Credit Partners reports 13% passive stake in Hercules Offshore
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07:15 EDTFTNTPalo Alto Fortinet seen as potential Cisco takeover targets, says Oppenheimer
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November 17, 2015
11:16 EDTPTENPatterson-UTI management to meet with Jefferies
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November 16, 2015
18:29 EDTETRNew York Governor voices 'strong opposition' to Entergy's Indian Point
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16:20 EDTHEROSoros Fund Management reports 7% passive stake in Hercules Offshore
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07:17 EDTNBRSeaport Global to hold a conference
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05:39 EDTIAGIAMGOLD announces regulatory approval in France for bid for EURO Ressources
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