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News Breaks
August 25, 2014
11:26 EDTPSEC, FTR, EXASOptions with increasing implied volatility: EXAS FTR PSEC
News For EXAS;FTR;PSEC From The Last 14 Days
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December 19, 2014
17:32 EDTEXASCMS provides update on reimbursement for Cologuard
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15:48 EDTEXASExact Sciences CMS lobbying may take several months, says Maxim
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15:33 EDTEXASExact Sciences says working with CMS to clarify Cologuard reimbursement
Exact Sciences said the reimbursement amount published today for Cologuard in the 2015 Clinical Diagnostic Laboratory Fee Schedule is inconsistent with what the Centers for Medicare and Medicaid Services, or CMS, publicly communicated on November 25 when CMS issued a final payment decision for Cologuard using the crosswalk methodology to CPT codes 81315, 81275, and 82274. Utilizing the crosswalk methodology based on the updated 2015 fee schedule the total for these codes is $500.76. Exact Sciences is working with CMS to clarify and will communicate more information once it becomes available. CMS has a process to establish payment rates for clinical laboratory tests and Exact Sciences followed that process. On July 11, Exact Sciences proposed a crosswalk methodology for Cologuard to CPT codes, 82274, 81275 and 81315. CMS agreed with that crosswalk methodology when they published their preliminary payment recommendation on October 11. CMS received public comments on that recommendation and on November 25 published their final recommendation which affirmed the crosswalk methodology, the company noted.
15:06 EDTEXASExact Sciences CMS confusion seen as clerical error, says Canaccord
Canaccord said management of Exact Sciences are attributing confusion around the code used for reimbursement of its Cologuard test to a clerical error at CMS and that the company has reached out to resolve the issue. A national diagnostics expert also said the CMS update is likely a clerical error, the firm noted. Canaccord has a Buy rating and $30 price target on Exact Sciences.
12:58 EDTEXASExact Sciences slips amid questions on Cologuard reimbursement
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10:19 EDTFTROptions with decreasing implied volatility
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December 18, 2014
05:46 EDTPSECProspect Capital downgraded to Equal Weight from Overweight at Barclays
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December 16, 2014
09:16 EDTEXASOn The Fly: Pre-market Movers
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09:05 EDTEXASExact Sciences 4M share Spot Secondary priced at $25.75
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December 15, 2014
16:15 EDTEXASExact Sciences files automatic mixed securities shelf
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16:09 EDTEXASExact Sciences files to sell 4M shares of common stock
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10:25 EDTPSECProspect Capital to host business news update conference call
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December 11, 2014
16:21 EDTFTRFrontier Communications raises quarterly dividend to 10.5c per share
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14:43 EDTEXASExact Sciences management to meet with William Blair
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December 9, 2014
10:27 EDTPSECOptions with increasing implied volatility
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December 8, 2014
10:42 EDTPSECOptions with increasing implied volatility
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09:20 EDTPSECOn The Fly: Pre-market Movers
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08:43 EDTPSECProspect Capital suspends ATM equitiy issuance, reduces dividends
Prospect Capital announced that, in light of current share price levels, Prospect has suspended at-the-market equity issuances for the indefinite future. Prospect will continue to take a disciplined approach to any future potential equity issuance, the company said. As of September 30, Prospect's asset concentration in the energy industry stood at 5.1%, including Prospect's first lien senior secured loans where third parties bear first loss capital risk. As of December 31, 2013, Prospect's loan non-accrual rate stood at 0.32%, weighted average portfolio net leverage stood at 4.49 times earnings before interest, taxes, depreciation, and amortization and trailing twelve month first lien origination mix stood at 58.3%. Prospect announced it has declared reduced monthly cash dividends to shareholders in the following amounts and with the following record and payment dates: 8.333c per share for February 2015, with a record date of February 27, 2015 and payment date of March 19, 2015; 8.333c per share for March 2015, with a record date of March 31, 2015 and payment date of April 23, 2015; and 8.333c per share for April 2015, with a record date of April 30, 2015 and payment date of May 21, 2015. "As our updated credit statistics show, we have elected in the past year to take on less risk and focus on higher earnings quality by increasing our percentage of first lien loans and accepting lower interest rates in this yield compressed environment. We have not chased higher yields that we believe do not compensate for risk. While we have more than covered our prior dividends out of taxable earnings, we are reducing the next three declared dividends from past levels because we believe we should pay a dividend that is no more than our minimum expected net investment income, based on our expectations over the next twelve months," said John Barry III, Chairman and CEO of Prospect.
08:06 EDTFTRFrontier Communications now sees FY14 CapEx $575M-$600M
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07:23 EDTFTRUBS to hold a conference
42nd Annual Global Media & Communications Conference is being held in New York on December 8-10 with webcasted company presentations to begin on December 8 at 8 am; not all presentations may be webcasted. Webcast Link

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