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March 10, 2014
10:01 EDTECA, IACI, UIL, SPLS, X, VIV, HCI, BIG, EW, DWA, ALU, CHTR, GAS, ADMOn The Fly: Analyst Upgrade Summary
AGL Resources (GAS) upgraded to Market Perform from Underperform at BMO Capital...Alcatel-Lucent (ALU) upgraded to Outperform from Market Perform at BMO Capital... Archer Daniels (ADM) upgraded to Outperform from Market Perform at BMO Capital... Charter (CHTR) upgraded to Buy from Hold at Jefferies... DreamWorks Animation (DWA) upgraded to Buy from Neutral at B. Riley... Edwards Lifesciences (EW) upgraded to Outperform from Market Perform at Wells Fargo... Telefonica Brasil (VIV) upgraded to Neutral from Sell at Citigroup... UIL Holdings (UIL) upgraded to Buy from Neutral at BofA/Merrill... Big Lots (BIG) upgraded to Outperform from Market Perform at FBR Capital... U.S. Steel (X) upgraded to Buy from Neutral at Nomura... IAC (IACI) upgraded to Outperform from Market Perform at Cowen... HCI Group (HCI) upgraded to Buy from Neutral at Sidoti... Staples upgraded (SPLS) to Cautious from Sell at ISI Group... Encana (ECA) upgraded to Outperform from Neutral at Macquarie.
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November 23, 2015
09:36 EDTECAEncana upgraded to Buy from Hold at Evercore ISI
05:54 EDTSPLSStocks with implied volatility above IV index mean; CHK SPLS
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05:46 EDTXStocks with implied volatility movement; X XOM
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November 22, 2015
18:21 EDTADMSugar producers settle battle with high-fructose corn syrup, Bloomberg says
Sugar producers have settled a legal dispute with high-fructose corn syrup makers including Archer-Daniels Midland after accusing the HFCS firms of misusing the term "natural," reports Bloomberg. Though terms of the settlement were unclear, Bloomberg noted the sugar companies had sought $1.6B in damages while ADM and other co-defendants had sought $531M. Reference Link
November 20, 2015
11:05 EDTADMSyngenta sues grain trading companies in corn conflict, WSJ says
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10:59 EDTADMArcher Daniels downgraded to Equal Weight from Overweight at Stephens
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05:32 EDTSPLSStocks with implied volatility above IV index mean; NBG SPLS
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November 19, 2015
16:40 EDTGASAGL Resources holders vote to approve merger with Southern Company
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16:34 EDTEWEdwards Lifesciences approves two-for-one stock split
Edwards Lifesciences approved a two-for-one split of the company's outstanding shares of common stock to be effected as a 100% stock dividend. This will be the company's second stock split since it went public in April 2000. Stockholders of record at the close of business on November 30 will be issued one additional share of common stock for each share owned as of that date. The additional shares will be distributed on December 11. The stock split will increase the number of common shares outstanding from approximately 108M shares as of the record date, to approximately 216M shares.
06:19 EDTSPLSFTC looking over Staples, Office Depot transaction, NY Post reports
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05:20 EDTSPLSStocks with implied volatility above IV index mean; NBG SPLS
Stocks with implied volatility above IV index mean; National Bank of Greece (NBG) 601, Staples (SPLS) 59 according to iVolatility.
November 18, 2015
12:33 EDTSPLSOn The Fly: Top stock stories at midday
Stocks on Wall Street began the session in positive territory and have moved higher throughout the morning. All eyes continue to be fixed on Paris and successful police action in a raid of the dwellings of suspects from the bombing over the weekend may have added to today's positive sentiment. There was little help from the day's economic data, however, as the housing starts report for October came in with the lowest reading in seven months and the energy inventories data showed another buildup in crude. ECONOMIC EVENTS: In the U.S., housing starts fell 11.0% to a 1.06M pace in October, weaker than the expected rate of 1.16M. Building permits, however, rose 4.1% to a 1.15M rate, versus an expected rise of 3.8%. The day's big economic event may be yet to come, as investors await the minutes from the Fed's last FOMC meeting, which are scheduled for release at 2:00 pm ET. COMPANY NEWS: Shares of Target (TGT) fell more than 5% after the retailer reported in-line quarterly sales and profits and narrowed the range of its fiscal year earnings view. Target, which guided for same-store sales in its holiday quarter to be up 1%-2%, added that it sees "indications of heavy inventory levels" at some competitors into the holiday season... Shares of railroad operator Norfolk Southern (NSC) spiked in the after-hours trading after rival Canadian Pacific (CP) announced that it had sent an offer letter proposing a business combination, but failed to outline the details of its proposal. Norfolk Southern then confirmed Canadian Pacific to acquire the company for $46.72 in cash and a fixed exchange ratio of 0.348 Canadian Pacific shares per Norfolk share, calling the indication of interest "unsolicited, low-premium, non-binding and highly conditional." CNBC's David Faber, citing sources, subsequently reported that Norfolk Southern has no interest in pursuing a merger, but Norfolk shares remain up more than 6% early this afternoon, while Canadian Pacific is up nearly 6% as well... Shares of Apple (AAPL) climbed about 3% after Goldman Sachs added the stock to its Conviction Buy List, predicting that investors should begin to focus on the company's monetization and recurring revenue opportunities over the next year, which would be a boon to its valuation. MAJOR MOVERS: Among the notable gainers was Aramark (ARMK), which rallied 8% after it reported upbeat quarterly earnings and guided for fiscal 2016. Also higher was Fairchild Semicondcutor (FCS), which gained 8.5% after it agreed to be acquired for approximately $2.4B by ON Semiconductor (ON), which fell 8% following the deal announcement. Another noteworthy losers was Qualcomm (QCOM), which fell nearly 10% after it said that allegations from Korea's FTC that the company did not properly negotiate "aspects" of its licenses are "not supported by the facts." Also lower was Staples (SPLS), which was down 4% after it reported Q3 earnings and provided an earnings outlook for Q4. INDEXES: Near midday, the Dow was up 132.98, or 0.76%, to 17,622.48, the Nasdaq was up 43.00, or 0.86%, to 5,029.01, and the S&P 500 was up 15.62, or 0.76%, to 2,066.06.
09:22 EDTSPLSOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Vipshop (VIPS), up 8%. ALSO HIGHER: Anavex Life Sciences (AVXL), up 27.5% after announcing preparation of regulatory filings based on guidance from FDA... Universal Insurance (UVE), up 7.7% after issuing a statement saying that Lakewood Capital Management's statement was misleading... Actinium Pharmaceuticals (ATNM), up 14.9% after submitting an Investigational New Drug application with the FDA for Iomab-B... Fairchild Semiconductor (FCS), up 8.8% after being acquired by ON Semiconductor (ON)... Norfolk Southern (NSC), up 5% after confirming a merger offer from Canadian Pacific (CP). DOWN AFTER EARNINGS: SouFun (SFUN), down 2.9%... Staples (SPLS), down marginally. ALSO LOWER: GoPro (GPRO), down 4.4% after price target lowered to $15 from $20 at Piper Jaffray... Citrix Systems (CTXS), down 3.5% after announcing operational review and the spin off of its GoTo family of products.
06:03 EDTSPLSStaples sees Q4 non-GAAP EPS 26c-30c, consensus 28c
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06:02 EDTSPLSStaples reports Q3 non-GAAP EPS 35c, consensus 35c
Reports Q3 revenue $5.6B, consensus $5.67B. Closed 18 stores in North America during Q3.
November 17, 2015
15:13 EDTSPLSNotable companies reporting before tomorrow's open
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09:12 EDTUILUIL Holdings finalizes deal with Woodbridge
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07:39 EDTSPLSStaples volatility elevated into Q3 and outlook
Staples November call option implied volatility is at 87, December is at 68, January is at 60; compared to its 52-week range of 22 to 78, suggesting large near term price movement into the expected release of Q3 results on November 18.
07:31 EDTIACIAngie's List board unanimously determines not to pursue IAC proposal
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07:30 EDTIACIAngie's List board unanimously determines not to pursue IAC proposal
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