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Stock Market & Financial Investment News

News Breaks
October 25, 2013
10:01 EDTTWX, STRZA, KYTH, SAPMY, VET, TIVO, NFLX, MYL, SUBCY, VIAB, TEVA, NGL, HASI, WAGE, LCI, DIS, DISH, DTV, ACT, DISCA, FOXAOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 21st Century Fox (FOXA) initiated with an Outperform at FBR Capital... Actavis (ACT) initiated with a Buy at Citigroup.... DISH (DISH) initiated with an Underperform at FBR Capital... DirecTV (DTV) initiated with a Market Perform at FBR Capital... Discovery (DISCA) initiated with an Outperform at FBR Capital... Disney (DIS) initiated with an Outperform at FBR Capital... Hannon Armstrong (HASI) initiated with a Sector Perform at RBC Capital... Kythera (KYTH) initiated with a Buy at BofA/Merrill... Mylan (MYL) initiated with a Neutral at Citigroup... NGL Energy Partners (NGL) initiated with an Outperform at Raymond James... Netflix (NFLX) initiated with a Market Perform at FBR Capital... Starz (STRZA) initiated with a Market Perform at FBR Capital... Teva (TEVA) initiated with a Buy at Citigroup... TiVo (TIVO) initiated with a Market Perform at FBR Capital... Time Warner (TWX) initiated with an Outperform at FBR Capital... Vermilion Energy (VET) initiated with a Neutral at Goldman... Viacom (VIAB) initiated with an Outperform at FBR Capital... Lannett (LCI) initiated with a Buy at BofA/Merrill... Subsea 7 (SUBCY) initiated with a Buy at Canaccord... Saipem (SAPMY) initiated with a Hold at Canaccord... WageWorks (WAGE) initiated with a Buy at SunTrust.
News For FOXA;ACT;DISH;DISCA;DTV;DIS;HASI;MYL;KYTH;NGL;NFLX;STRZA;TEVA;TIVO;TWX;VIAB;VET;LCI;SUBCY;SAPMY;WAGE From The Last 14 Days
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January 20, 2015
14:04 EDTNFLXNetflix January weekly 345 straddle priced for 11% movement into Q4
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14:00 EDTDISFCC fines Viacom, ESPN $1.4M after brodcasting EAS tones to promote movie
The Federal Communications Commission fined Viacom (VIA) and ESPN (DIS) $1.4M for misusing the Emergency Alert System warning tones. The cable networks transmitted EAS warning tones for several days in 2013 to promote the movie “Olympus Has Fallen,” which portrayed a terrorist attack on Washington, D.C. Broadcast or transmission of these tones outside an emergency or test violates the FCC’s laws protecting the integrity of the system. The networks admitted that the commercial contained actual EAS codes and appeared multiple times on the networks. In March 2014, the FCC proposed a total fine of $1,930,000 against NBCUniversal (CMCSA), ESPN, and Viacom. NBCUniversal paid its $530,000 fine, but ESPN and Viacom objected and requested reductions. The FCC rejected their arguments and imposed fines of $1,120,000 against Viacom and $280,000 against ESPN. The fines, which differ based on several factors including the number of channels involved and the number of transmissions on each channel, must be paid in 30 days.
13:24 EDTTWXGreenlight has new long positions in Citizens, Time Warner, Bloomberg says
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12:56 EDTMYL, TEVAMylan says continues to believe '808 patent is 'invalid'
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11:29 EDTTEVATeva says Supreme Court reverses circuit court judgment on Copaxone 20 mg/mL
Teva Pharmaceutical announced the U.S. Supreme Court’s decision in Teva Pharmaceuticals USA, Inc. et al. Petitioners v. Sandoz Inc. et al. that reversed the Federal Circuit Court’s judgment of invalidity of Teva’s ‘808 patent for COPAXONE 20 mg/mL. The Supreme Court remanded the case to the Federal Circuit for further review in light of the applicable standard the Supreme Court laid out for appellate review of claim construction. A ruling last year by the U.S. Court of Appeals for the Federal Circuit upheld four Teva patents that expired in May 2014, while invalidating the ‘808 patent that is set to expire on September 1, 2015. “We are encouraged by the U.S. Supreme Court’s Decision and look forward to the Federal Circuit’s review. We will continue to explore all available avenues to protect our intellectual property for COPAXONE 20mg/mL,” said Erez Vigodman, President and CEO of Teva. “There is currently no FDA-approved follow-on version of Teva’s COPAXONE. We are encouraged by the FDA’s willingness to date to have dialogue regarding the complexities of COPAXONE 20 mg/mL and the potential limitations and other unknowns of purported follow-on versions,” added Rob Koremans, MD, President and CEO of Global Specialty Medicines at Teva.
10:45 EDTTEVATeva spikes, retraces, after win in Copaxone patent case
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10:40 EDTMYL, TEVAMomenta Pharma sinks after Supreme Court rules on Copaxone
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10:35 EDTTEVATeva rises after patent ruling upheld by Supreme Court
The Supreme Court upheld a lower court ruling related to generic versions of Teva's Copaxone drug. In the ruling, the court wrote that "When reviewing a district court’s resolution of subsidiary factual matters made in the course of its construction of a patent claim, the Federal Circuit must apply a “clear error,” not a de novo, standard of review." Teva shares are up 1.5% to $58.58 in early trading after the ruling. Reference Link
08:11 EDTNFLXNetflix volatility increases into Q4 and outlook
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07:38 EDTSTRZAStarz upgraded to Overweight from Equal Weight at Morgan Stanley
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07:37 EDTVIABViacom downgraded at Morgan Stanley
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07:35 EDTTWXTime Warner downgraded at Morgan Stanley
As previously reported, Morgan Stanley downgraded Time Warner to Equal Weight from Overweight. The firm downgraded shares based on balanced risk/reward, and downside risk from affiliate fee growth and TV advertising. Price target lowered to $85 from $90.
07:25 EDTFOXA, DISCAViacom buys 50% stake in five Indian TV channels, WSJ says
Viacom (VIA, VIAB) is completing a deal with India's Reliance Industries giving it 50% ownership of five Indian TV channels for an undisclosed sum, reports the Wall Street Journal. Competitors including Discovery Communications (DISCA), 21st Century Fox (FOX, FOXA), and AMC Networks (AMCX) are similarly looking towards foreign investment as U.S. consumers move away from traditional cable packages. PricewaterhouseCoopers predicts 16% annual growth in Indian TV revenue over the next five years. Reference Link
06:35 EDTVETVermilion Energy upgraded to Outperformer from Sector Performer at CIBC
CIBC upgraded Vermilion Energy to Outperform due to valuation.
06:30 EDTSTRZAStarz upgraded to Overweight from Equal Weight at Morgan Stanley
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06:30 EDTVIABViacom downgraded to Underweight from Equal Weight at Morgan Stanley
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06:29 EDTTWXTime Warner downgraded to Equal Weight from Overweight at Morgan Stanley
06:06 EDTFOXADreamWorks planning to lay off 'substantial' number of staff, LA Times reports
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05:34 EDTACTActavis reports positive Phase III results for cariprazine
Gedeon Richter and Actavis announced positive results from a Phase III trial evaluating the efficacy and safety of cariprazine in the prevention of relapse in patients with schizophrenia. There were 101 patients randomized to cariprazine 3 to 9 mg per day and 99 randomized to placebo. The primary efficacy measure was time to first relapse during the double-blind period. There were 25 relapses in the cariprazine group versus 47 relapses in the placebo group. Treatment with cariprazine was associated with a 55% reduction in risk of relapse versus placebo.
January 18, 2015
16:46 EDTFOXA, TWXWarner Bros.' 'American Sniper' takes top spot with $90.2M at box office
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