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Stock Market & Financial Investment News

News For EXPR;QCOR;GGC;ADTN;MDRX From The Last 14 Days
Check below for free stories on EXPR;QCOR;GGC;ADTN;MDRX the last two weeks.
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April 17, 2014
09:32 EDTQCORLeerink's specialty pharma/generics analyst has analyst/industry conference call
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03:54 EDTQCORStocks with implied volatility below IV index mean; QCOR MNKD
Stocks with implied volatility below IV index mean; Questcor (QCOR) 47, MannKind (MNKD) 82 according to iVolatility.
April 16, 2014
12:47 EDTADTNOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday as the earnings season picks up steam. Stocks began the session sharply higher, with the market attempting to extend the rally that began on Monday. The move upward comes in spite of the dayís housing data coming in below expectations. This afternoon, investors will be watching the Fedís Beige Book report in hopes it provides evidence that the economy is strengthening. ECONOMIC EVENTS: In the U.S., housing starts in March were up 2.8% from the prior month to a rate of 946K, versus expectations for an increase of 7%. Building permits were down 2.4% to a 990K rate, versus expectations for a decline of 0.4%. Industrial production rose 0.7% in March, which was ahead of the 0.5% forecast. The Fedís Beige Book report, which includes anecdotal reports on business conditions in the various Fed districts, is due out at 2:00 pm ET. In China, data showed its economy grew 7.4% in the first quarter from a year earlier, providing relief after recent signs that growth in the world's second largest economy has been slowing. COMPANY NEWS: Shares of Bank of America (BAC) were down over 2% near midday after the company reported a first quarter loss of 5c per share, which was influenced by $6B in legal charges. The $6B in litigation expense, which was related to a previously announced settlement with the Federal Housing Finance Agency and added reserves for other legacy mortgage-related matters, hurt the banks earnings by about 40c per share... Yahoo (YHOO) rose more than 6% after reporting first quarter profit and sales last night that beat expectations. A great deal of attention was also paid to the 66% year-over-year increase in revenue reported by Alibaba, the Chinese group of e-commerce sites in which Yahoo has a 24% stake. This morning, Wells Fargo upgraded its rating on Yahoo to Outperform from Market Perform and raised its price target range for shares to $45-$47 from $38-$40, while Jefferies assumed coverage of Yahoo and also raised its rating on the stock. MAJOR MOVERS: Among the notable gainers was SodaStream (SODA), which surged 9% after an Israeli website said that the company was in talks to sell a 10% or greater stake to a big name company such as PepsiCo (PEP), Dr Pepper Snapple (DPS), or Starbucks (SBUX). Also higher was drugmaker Zogenix (ZGNX), which gained nearly 10% after confirming that a judge prevented a ban on sales of the company's Zohydro pain medication in Massachusetts. Among the noteworthy losers was Agnico Eagle Mines (AEM), which fell 7.5% after agreeing to jointly acquire Osisko Mining in partnership with Yamana Gold (AUY). Yamana shares were also down 3%. Also lower following their earnings reports were ADTRAN (ADTN), which fell nearly 6%, and CSX (CSX), which dropped about 3%. INDEXES: Near midday, the Dow was up 124.14, or 0.76%, to 16,386.70, the Nasdaq was up 37.86, or 0.94%, to 4,072.02, and the S&P 500 was up 13.52, or 0.73%, to 1,856.50.
11:00 EDTADTNADTRAN sees Q2 GAAP gross margins 49% to 50%
On its Q1 conference, call the company added that it anticipates GAAP operating expenses for Q2 will be slightly higher than operating expense levels experienced in Q1.
10:46 EDTADTNADTRAN reiterates Q2 revenue view $172M-$180M, consensus $174.89M
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10:39 EDTADTNADTRAN says U.S. carrier sales started slower than typical in Q1
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09:03 EDTMDRXAllscripts should see core business stability, says RW Baird
Baird said recent restructuring actions and strong bookings at Allscripts will lead to predictable P&L performance and help narrow its valuation discount to its peers. The firm maintains an Outperform rating and $23 price target on Allscripts.
06:23 EDTQCOR Stocks with implied volatility below IV index mean; QCOR MNKD
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05:04 EDTADTNADTRAN reports Q1 EPS 21c, consensus 17c
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April 15, 2014
10:00 EDTMDRXOn The Fly: Analyst Initiation Summary
Allscripts (MDRX) reinstated with an Outperform at Raymond James... Amber Road (AMBR) initiated with a Buy at Canaccord... Autonation (AN) coverage assumed with a Market Perform at Wells Fargo... BG Group (BRGYY) initiated with an Outperform at BMO Capital... Borderfree (BRDR) initiated with a Buy at Canaccord... Dean Foods (DF) initiated with a Buy at BB&T... Destination XL (DXLG) initiated with a Buy at Ascendiant... Group 1 Automotive (GPI) coverage assumed with a Market Perform at Wells Fargo... Halozyme (HALO) initiated with a Buy at Citigroup... MakeMyTrip (MMYT) initiated with a Neutral at Goldman... Penske Automotive (PAG) coverage assumed with a Market Perform at Wells Fargo... RPM (RPM) initiated with an Outperform at Wells Fargo... RSP Permian (RSPP) initiated with a Buy at KLR Group... Repligen (RGEN) initiated with a Buy at Jefferies... Spansion (CODE) initiated with a Buy at Sterne Agee... Statoil (STO) initiated with a Market Perform at BMO Capital... TPG Specialty Lending (TSLX) initiated with a Buy at BofA/Merrill... Versartis (VSAR) initiated with a Buy at Citigroup... WWE (WWE) initiated with a Buy at Needham... WebMD (WBMD) reinstated with a Strong Buy at Raymond James.
07:42 EDTQCORFDA received two documents questioning Acthar, says Jefferies
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06:04 EDTQCORStocks with implied volatility below IV index mean; QCOR MNKD
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April 14, 2014
16:51 EDTMDRXAllscripts reinstated with an Outperform at Raymond James
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05:54 EDTQCORStocks with implied volatility below IV index mean; QCOR MNKD
Stocks with implied volatility below IV index mean; Questcor (QCOR) 44, MannKind (MNKD) 83 according to iVolatility.
April 11, 2014
10:46 EDTQCOROptions with decreasing implied volatility: MNKD QCOR NQ WWE BBBY
06:04 EDTQCORStocks with implied volatility below IV index mean; QCOR MNKD
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April 10, 2014
11:31 EDTEXPROptions with increasing implied volatility: EXPR NEE
11:03 EDTQCOROptions with decreasing implied volatility: MNKD QCOR MU KMX
06:06 EDTQCORStocks with implied volatility below IV index mean; QCOR MNKD
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April 9, 2014
10:23 EDTQCOROptions with decreasing implied volatility: MNKD QCOR MU KMX
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05:56 EDTQCORStocks with implied volatility below IV index mean; QCOR MNKD
Stocks with implied volatility below IV index mean; Questcor (QCOR) 47, MannKind (MNKD) 83 according to iVolatility.
April 8, 2014
10:41 EDTQCOROptions with decreasing implied volatility: DLLR QCOR
10:03 EDTQCOROn The Fly: Analyst Downgrade Summary
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07:41 EDTQCORMallinckrodt downside risk minimal from current levels, says Piper Jaffray
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07:20 EDTQCORMallinckrodt shares pressured on lingering Acthar concerns, says Jefferies
Jefferies says shares of Mallinckrodt (MNK) sold off yesterday despite "significant accretion potential" from the Questcor (QCOR) acquisition due to lingering Acthar concerns relating to generic competition and the ongoing U.S. Attorney's investigation. The firm says its accretion math suggests $3 in earnings per share by FY15, which it feels justifies a $75-$85 share range for Mallinckrodt. It keeps a Buy rating on the stock with a $77 price target.
07:08 EDTQCORDrug deals increase to new high, Bloomberg says
M&A activity in the specialty pharmaceuticals industry has reached a new high after Mallinckrodt (MNK) recently bought Questcor (QCOR) for $5.6B, reported Bloomberg. Drugmakers from Actavis (ACT) to Valeant (VRX) are widening their suites of drugs through takeovers that immediately increased earnings with the help of lower corporate tax rates in countries such as Ireland. Reference Link
06:40 EDTQCORMallinckrodt upgraded to Outperform from Market Perform at BMO Capital
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05:31 EDTQCORQuestcor downgraded to Hold from Buy at Jefferies
Jefferies downgraded Questcor (QCOR) to Hold with an $86 price target following the company's merger agreement with Mallinckrodt (MNK).
April 7, 2014
16:28 EDTQCOROn The Fly: Closing Wrap
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12:15 EDTQCOROn The Fly: Midday Wrap
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11:21 EDTQCOROptions with decreasing implied volatility: QCOR MU KMX EPB
11:05 EDTQCOR High option volume stocks: EXC QCOR SQQQ GNK PPG
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10:40 EDTQCORShort-seller target Questcor spikes after deal to be bought by Mallinckrodt
Questcor (QCOR) shares are sharply higher this morning after the company agreed to be bought by Mallinckrodt (MNK) in a transaction valued at approximately $5.6B. WHAT'S NEW: Questcor, a biopharmaceutical company whose primary drug, H.P. Acthar Gel, is approved by the FDA for the treatment of 19 indications, will be acquired by Mallinckrodt for about $5.6B, made up of $30.00 per share in cash and 0.897 Mallinckrodt shares for each Questcor share they own. The total consideration equated to approximately $86.10 per Questcor share based on the closing price of Mallinckrodt shares on April 4. After the deal closes, Mallinckrodt shareholders will own approximately 50.5% and former Questcor shareholders will own approximately 49.5% of the combined company's stock. The deal is expected to immediately add to Mallinckrodt's fiscal 2014 adjusted earnings per share and significantly add to fiscal 2015 adjusted EPS. The transaction is targeted to close in the third quarter. On the companies' conference call discussing the merger, Questcor said it believes that its first quarter sales will be "somewhat lower" than the fourth quarter of 2013, but also "substantially higher" than last year's first quarter; the consensus estimate for Q1 revenue is $242.08M. Questcor also said that it sees a "favorable" tax structure and operating cash flow, as well as immediate value for shareholders. Mallinckrodt said sees about a 10% decline in the tax rate with the Questcor deal and believes it will realize immediate tax benefits. Mallinckrodt added that its focus will be on deleveraging in the coming months to allow for strategic acquisitions. WHAT'S NOTABLE: Of the 19 indications approved for Acthar, Questcor currently generates substantially all of its net sales from the following on-label indications: the treatment of proteinuria in the nephrotic syndrome of the idiopathic type, or NS, the treatment of acute exacerbations of multiple sclerosis, or MS, in adults, the treatment of infantile spasms, or IS, in infants and children under two years of age, and the treatment of certain rheumatology related conditions. Questcor has been a frequent target of the short-selling blog Citron Research in the past. As recently as March 14, Citron Research claimed Questcor was "deceiving" the FDA and investors, alleging H.P. Acthar Gel's active ingredient is less than 20% of the label specification. PRICE ACTION: Questcor is trading up $11.48, or 16.91%, to $79.35 in mid-morning trading. Meanwhile, Mallinckrodt is down $1.70, or 2.72%, to $60.82.
10:00 EDTQCORQuestcor rises 21.2%
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09:10 EDTQCOROn The Fly: Pre-market Movers
HIGHER: Questcor (QCOR), up 27% after agreeing to be bought by Mallinckrodt (MNK) for cash, stock valued at $86.10 per Questcor share... Agios Pharmaceuticals (AGIO), up 25% after program shows "promising clinical activity" for advanced blood cancers, shares upgraded at JPMorgan... Vocus (VOCS), up 47% after agreeing to be acquired by GTCR for $446.5M, or $18.00 per share... Pandora (P), up 1.3% following upgrade at Wedbush. LOWER: MannKind (MNKD), down 13% after announcing FDA extension of PDUFA date for Afrezza... American Eagle (AEO), down 2.2% following downgrade at Cowen... Pfizer (PFE), down 2.8% after announcing data for palbociclib in metastatic breast cancer... Mattel (MAT), down 3% following downgrade at BMO Capital... WWE (WWE), down 1.2% after cautious mention in Barron's, company announcing WrestleMania 30 grossed $10.9M.
09:00 EDTQCORQuestcor rises 29.2%
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07:16 EDTQCORMallinckrodt and Questcor hold a joint conference call
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07:08 EDTQCORQuestcor to be bought by Mallinckrodt for cash, stock valued at $86.10 per share
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07:04 EDTQCORQuestcor acquired by Mallinckrodt for $5.6B
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