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March 7, 2014
09:16 EDTNVTL, FEYE, VMEM, NLNK, ALSK, GTAT, FRM, DLIA, SWY, SKUL, BIG, FLOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Foot Locker (FL), up 5.5%... Skullcandy (SKUL), up 25%... Big Lots (BIG), up 16%... Alaska Communications (ALSK), up 11%...ALSO HIGHER: dELiA's (DLIA), up 11% after Tiger Global Management reports 6.3% passive stake in the company... GT Advanced (GTAT), up 7% following upgrade at Credit Suisse. DOWN AFTER EARNINGS: Furmanite (FRM), down 3.8%... Novatel Wireless (NVTL), down 23%... Peregrine Pharmaceuticals (PPHM), down 10%. ALSO LOWER: NewLink (NLNK), down 9.7% after saying will continue IMPRESS Phase 3 study of algenpantucel-L... Violin Memory (VMEM), down 12.4% after earnings, downgrade at BofA/Merrill... FireEye (FEYE), down 6.6% after 14M share secondary offering of stock priced at $82.00... Safeway (SWY), down 3% after announcing a deal to be acquired by Albertsons for about an estimated $40 per share in a merger that had been reported on extensively.
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October 5, 2015
10:00 EDTFEYEOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AK Steel (AKS) downgraded to Hold from Buy at Deutsche Bank... Applied Materials (AMAT) downgraded to Underperform from Sector Perform at RBC Capital... BRF S.A. (BRFS) downgraded to Sell from Neutral at Goldman... BancorpSouth (BXS) downgraded to Market Perform from Outperform at Raymond James... CSI Compressco (CCLP) downgraded to Outperform from Strong Buy at Raymond James... Cal-Maine Foods (CALM) downgraded to Hold from Buy at BB&T... Century Aluminum (CENX) downgraded to Hold from Buy at Deutsche Bank... Chesapeake Lodging (CHSP) downgraded to Sector Weight from Overweight at KeyBanc... Chimerix (CMRX) downgraded to Equal Weight from Overweight at Morgan Stanley... Colfax (CFX) downgraded to Underweight from Equal Weight at Barclays... Cytec Industries (CYT) downgraded to Neutral from Buy at Sterne Agee CRT... DiamondRock (DRH) downgraded to Sector Weight from Overweight at KeyBanc... DineEquity (DIN) downgraded to Sector Weight from Overweight at KeyBanc... East West Bancorp (EWBC) downgraded to Market Perform from Outperform at Raymond James... Eaton (ETN) downgraded to Equal Weight from Overweight at Barclays... FireEye (FEYE) downgraded to Neutral from Overweight at Piper Jaffray... First Defiance Financial (FDEF) downgraded to Market Perform at Raymond James... Freeport McMoRan (FCX) downgraded to Hold from Buy at Deutsche Bank... Hi-Crush Partners (HCLP) downgraded to Market Perform from Outperform at Raymond James... Lam Research (LRCX) downgraded to Underperform from Sector Perform at RBC Capital... Macy's (M) downgraded to Neutral from Buy at Cleveland Research... Mid-America Apartment (MAA) downgraded to Neutral from Outperform at Baird... Norfolk Southern (NSC) downgraded to Underweight from Equal Weight at Barclays... Rexnord (RXN) downgraded to Equal Weight from Overweight at Barclays... Rockwell Automation (ROK) downgraded to Equal Weight from Overweight at Barclays... Scripps Networks (SNI) downgraded to Sell from Neutral at Goldman... ServisFirst (SFBS) downgraded to Outperform from Strong Buy at Raymond James... Strategic Hotels (BEE) downgraded to Sector Perform from Outperform at RBC Capital... Time Warner (TWX) downgraded to Buy from Conviction Buy at Goldman... Tyco (TYC) downgraded to Equal Weight from Overweight at Barclays... Union Pacific (UNP) downgraded to Equal Weight from Overweight at Barclays... Viacom (VIAB) downgraded to Neutral from Buy at Goldman.
09:12 EDTFEYEOn The Fly: Pre-market Movers
HIGHER: Spark Therapeutics (ONCE), up 45.7% after SPK-RPE65 trial met its primary endpoint... Amicus Therapeutics (FOLD), up 12.1% after being upgraded to Buy from Neutral at Chardan... bluebird bio (BLUE), up 5.3% after being upgraded to Overweight from Equal Weight at Morgan Stanley... Sunedison (SUNE), up 3.8% after announcing initiatives to optimize its business operations... General Electric (GE), up 3% after Trian disclosed a $2.5B stake in GE. LOWER: FireEye (FEYE), down 3.5% after being downgraded to Neutral from Overweight at Piper Jaffray... Applied Materials (AMAT), down 1.9% after being downgraded to Underperform from Sector Perform at RBC Capital... Cal-Maine Foods (CALM), down 2.1% after being downgraded to Hold from Buy at BB&T.
07:08 EDTFEYEFireEye enters global partnership with F5 Networks
FireEye (FEYE) and F5 Networks (FFIV) announced a global partnership to defend against the evolving security threats to the enterprise. Customers will benefit from comprehensive security solutions that integrate application delivery infrastructure from F5 and advanced threat protection from FireEye Network Security. The agreement also includes a unified approach to worldwide sales, deployment and support, thereby helping to ensure the best possible end-to-end experience for customers.
06:32 EDTFEYEFireEye downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Andrew Nowinski downgraded FireEye to Neutral with a $37 price target citing increasing competition and difficult upcoming comparisons. The provider of cybersecurity solutions closed Friday up 37c to $33.06.
October 2, 2015
15:14 EDTFEYEAs many as 4.6M Scottrade users' data exposed in breach, KrebsonSecurity says
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05:42 EDTFLFinish Line upgraded to Neutral from Sell at Goldman
Goldman Sachs analyst Taposh Bari upgraded Finish Line (FINL) to Neutral citing two years of share underperformance. Since Bari downgraded the shoe retailer to Sell on October 1, 2013, the stock is down 24% versus a gain of 13% for the S&P 500 Index. More negative estimate revisions are likely already being priced into shares at current levels, Bari tells investors in a research note. The analyst sees greater risk at Sell-rated Foot Locker (FL). He keeps a $20 price target for shares of Finish Line. The stock closed yesterday down 38c to $18.92.
October 1, 2015
10:42 EDTFEYEFireEye calls active
FireEye October weekly 32, 32.5 and 34 calls are active on total call volume of 7,800 contracts (790 puts) on renewed takeover chatter. October weekly call option implied volatility is at 64, October is at 59; compared to its 52-week range of 36 to 78. Active call volume suggests traders taking positions for large price movement.
10:16 EDTFEYEFireEye spikes higher, levels to watch
Shares are outperforming in the early going, last up over 3.5% to $32.98. At that price next resistance is at $33.68. Support is at $32.50.
10:11 EDTFEYEHigh option volume stocks
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10:08 EDTFEYEFireEye calls active
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07:23 EDTNLNKNewLink Genetics awarded $18M contract option from BARDA
NewLink Genetics Corporation (NLNK) announced today that the Biomedical Advanced Research and Development Authority, or BARDA, of the United States Department of Health and Human Services, or HHS, has exercised an $18M option on NewLink Genetics' existing contract to support the scale-up of the manufacturing process relating to its investigational rVSV-ZEBOV GP vaccine candidate. BARDA made an initial $30M contract award to NewLink in late 2014 and is now providing additional funding to continue development of the Ebola vaccine candidate. Merck (MRK) has the license for research, development, manufacturing and commercialization of the rVSV-ZEBOV GP vaccine.
07:23 EDTNLNKNewLink Genetics awarded $18M contract option from BARDA
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September 30, 2015
16:18 EDTFLFoot Locker provides pension plan litigation update
Foot Locker announced that it intends to appeal a U.S. District Court decision issued late yesterday in favor of the plaintiff in the case of Osberg v. Foot Locker, Inc., et al., which involves claims related to the conversion of the company's pension plan in 1996 to a defined benefit plan with a cash balance formula. The company disagrees with the decision. Although it cannot predict the outcome of any appeal, the company continues to believe, as previously indicated in its public filings on Forms 10-Q and 10-K, that the potential plan funding implications of this decision will not have a material adverse effect on the company's consolidated financial position, liquidity, or results of operations, as a whole. Given the company's intention to appeal, no further comments on this case from the company or its executives will be available until further notice.
10:33 EDTFEYEBattleground: Analysts agree Barracuda shares 'cheap,' diverge on ratings
The shares of Barracuda Networks (CUDA) are falling after the company reported lower than expected revenue and provided weaker than expected guidance. Research firms Piper Jaffray and JPMorgan both said that the shares are cheap in the wake of their huge decline today, though Piper downgraded the shares and JPMorgan kept an Overweight rating on the stock. Barracuda provides IT security and storage solutions, primarily for small and medium businesses. WHAT'S NEW: Barracuda last night reported second quarter earnings per share of 10c, versus analysts' consensus estimate of 9c. The company's revenue, however, came in at $78.4M, below the consensus outlook of $78.7M. Moreover, the company lowered its fiscal 2016 EPS guidance to 34c-36c from 36c-41c. Analysts' consensus estimate was 39c. Barrcuda cut its full-year revenue guidance to $320M-$323M, from $325M-$330M. Analysts' consensus estimate was $325M. The company said that its Q2 results were negatively impacted by longer sales cycles in its Europe, Middle East, and Africa region and it warned that it "saw some evidence" of slowing growth in the storage market. It also stated that its gross billings came in below its expectations. ANALYST REACTION: Piper Jaffray analyst Andrew Nowinski responded to Barracuda's results by downgrading the stock to Neutral from Overweight. Although Barracuda blamed its lower than expected billings guidance on weakness in its storage business, its security billings increased only by high single digit percentage levels, the analyst stated. The shares are "cheap," but the valuation is not compelling enough to recommend the stock, contends Nowinski, who cut his price target for shares to $20 from $40. Barracuda was also downgraded at Macquarie and at Stephens this morning.Conversely, JPMorgan analyst Sterling Auty called Barracuda shares "too cheap to ignore." The company lowered its billings guidance partly due to worries about slowing storage market growth, as indicated by an industry report released last quarter, said Auty. However, the growth of Barracuda's storage business actually accelerated last quarter, reaching about 25%, the analyst stated. He believes that Barracuda's new guidance reflects the company's efforts to be "prudent." Auty cut his price target on the name to $30 from $42 but kept an Overweight rating on the shares. OTHERS TO WATCH: Other publicly traded companies in the IT security space include Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC). PRICE ACTION: In early trading, Barracuda tumbled 33% to $15.90.
September 29, 2015
08:39 EDTNLNKOracle Health Sciences adds 93 biopharma customers
Oracle (ORCL) Health Sciences announced that 93 emerging biopharma organizations worldwide have become new customers in the past year, adopting Oracle Health Sciences solutions to succeed in this rapidly evolving market and deliver drugs to patients faster. Organizations, including Accera and NewLink (NLNK), selected Oracle Health Sciences solutions to manage their end-to-end clinical trial processes, boost clinical development productivity, facilitate compliance, and build scalable, affordable platforms for growth.
September 28, 2015
16:19 EDTNLNKOn The Fly: Top stock stories for Monday
Stocks on Wall Street were sharply lower as investors continue to worry about the health of China's economy and continue to flee the biotech sector. The iShares NASDAQ Biotechnology Index (IBB) was down 6.33% today and is down about 18.5% since September 21, when Democratic presidential candidate Hillary Clinton pledged to take action against the high prices of specialty drugs. Adding to the tentative mood among investors was noted investor Carl Icahn's preview for a presentation that will be made available on his site tomorrow, entitled "Danger Ahead." The preview includes several cautious comments that the billionaire has publicly made recently regarding his concerns about the high-yield bond market and the stock market. ECONOMIC EVENTS: In the U.S., personal income grew 0.3% in August, versus expectations for it to rise 0.4%. Personal spending rose 0.4% last month, versus expectations for growth of 0.3%. The pending home sales index fell 1.4% in August, missing expectations for it to have risen 0.4%. The Dallas Fed manufacturing outlook survey for September had a reading of -9.5, versus expectations for a reading of -10.0. In China, industrial profits plunged 8.8% in August, adding to the recent string of weak data from the Asian giant. COMPANY NEWS: Apple (AAPL) reported that it set a record by selling more than 13M new iPhone 6s and iPhone 6s Plus models in the first three days after launch of the devices. However, shares of the tech giant slid about 2% to $112.44 following the announcement... Alcoa (AA) shares advanced 52c, or 5.73%, to $9.59 after the company announced that its board has approved a plan to separate into two independent, publicly-traded companies - an Upstream company that will operate under the Alcoa name and a new "Value-Add company" that will provide high-performance, multi-material products whose name will be announced at a later date... Biotech stocks continued recent declines, with Valeant (VRX) dropping 16.6% after a group of Democratic congressmen urged additional scrutiny of the company's "price hike" business model, while Epizyme (EPZM) and NewLink (NLNK) fell a respective 27% and 21% after presenting data at the 2015 European Cancer Congress... Shares of both Energy Transfer Equity (ETE) and Williams (WMB) fell after they announced a combination deal valued at approximately $37.7B, including the assumption of debt and other liabilities. Under the terms of their deal, an affiliate of ETE will acquire Williams at an implied current price of $43.50 per Williams share, the companies said. In late June, Energy Transfer Equity made a proposal to merge with Williams in an all-equity transaction valued at that time at $53.1B, including the assumption of debt and other liabilities. Under that prior merger proposal, ETE would have acquired all of the outstanding common stock of Williams at an implied price of $64 per Williams share, which represented a 32.4% premium to Williams' common share closing price as of June 19. Energy Transfer Equity shares closed down $2.95, or 12.69%, to $20.29 after announcing today's revised deal, while Williams dropped $5.03, or 12.09%, to close at $36.57. MAJOR MOVERS: Among the notable gainers was Republic Airways (RJET), which surged $2.38, or 81.8%, to $5.29 after announcing that the company and Teamsters Local 357 have reached a consensual tentative agreement on the terms of a new three-year contract for the 2,100 Republic pilots represented by the International Brotherhood of Teamsters. Also higher was Media General (MEG), which gained $2.49, or 22.3%, to $13.64 after Nexstar (NXST) proposed a cash-and-stock deal to acquire the company for $14.50 per share, which Media General said it would "carefully review." Additionally, Sanchez Energy (SN) rose 4.5% to $5.57 after agreeing to sell certain Eagle Ford Shale midstream assets to Sanchez Production Partners (SPP) for $345M. Among the noteworthy losers was Huntsman (HUN), which plunged $3.99, or 28.7%, to $9.92 after warning that headwinds would impact its third quarter earnings. Also lower were shares of Depomed (DEPO) and Horizon Pharma (HZNP), falling a respective 22% and 21%, after Depomed continued its criticism of Horizon's hostile takeover bid for the company. INDEXES: The Dow fell 312.78, or 1.92%, to 16,001.89, the Nasdaq lost 142.53, or 3.04%, to 4,543.97, and the S&P 500 dropped 49.57, or 2.57%, to 1,881.77.
07:38 EDTFEYEBox to hold a user conference
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September 27, 2015
17:02 EDTNLNKNewLink Genetics reports early Phase 1a data on GDC-0919
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15:55 EDTNLNKNewLink Genetics presents early Phase 1b data on indoximod
NewLink Genetics presented early-stage clinical data from a Phase 1b study of indoximod, its wholly owned indoleamine 2,3 dioxygenase pathway inhibitor, in combination with ipilimumab for the treatment of patients with unresectable stage 3 or 4 melanoma. The data reported are from a safety study of nine patients to determine the safety of indoximod and to establish the dose for a Phase 2 study in combination with ipilimumab. "Combination therapy with indoximod and ipilimumab showed encouraging clinical activity in some patients," said the company. Of the seven patients evaluable for a response, one patient had a complete response and one patient had a partial response by RECIST criteria. Five patients in the study had progressive disease, and two patients are still awaiting follow up. The combination was well-tolerated and did not demonstrate any regimen-limiting immune-based toxicities, abnormalities in liver function tests or other toxicities that have been reported with this class of drugs. The Phase 2 study, currently enrolling 38 patients, will utilize a revised study design with standard of care immune checkpoint inhibition -- consisting of four cycles of concomitant ipilimumab, repeat cycles of nivolumab or repeat cycles of pembrolizumab -- being given in combination with indoximod. The Phase 2 dose for indoximod has been established at 1,200mg twice daily.
14:04 EDTFEYECybersecurity firms look prime for takeover, Barron's says
Cybersecurity companies like Palo Alto Networks (PANW), Fortinet (FTNT), and FireEye (FEYE) are becoming increasingly-attractive takeover targets for a Cisco (CSCO) or IBM (IBM), and any future dip in their stocks could represent a buying opportunity, Barron's contends in its 'Technology Trader' column. Reference Link
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