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Stock Market & Financial Investment News

News Breaks
January 23, 2013
08:36 EDTGOOG, MAPP, NYT, ISRG, CREE, MCP, BNNY, COH, IBM, AGNOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Google (GOOG), up 5%... IBM (IBM), up 3.9%... Cree (CREE), up 14%... Intuitive Surgical (ISRG), up 8.2%... ALSO HIGHER: New York Times (NYT), up 3% after NY Magazine says Trump may be investigating purchase of paper... MAP Pharmaceuticals (MAPP), up 59.2% to $24.81 after agreeing to be acquired by Allergan (AGN) for $25/share... DOWN AFTER EARNINGS: Coach (COH), down 15.6%... ALSO LOWER: Annie's (BNNY), down 11.4% after initiating pizza recall... Molycorp (MCP), down 12.9% after saying now sees Q4, 1H13 production substantially lower than expected.
News For GOOG;IBM;COH;BNNY;MCP;CREE;ISRG;NYT;MAPP;AGN From The Last 14 Days
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October 10, 2014
06:26 EDTGOOGGoogle to release its largest smartphone, WSJ reports
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October 9, 2014
16:49 EDTGOOGOracle hires former director of engineering from Google, Re/code reports
Oracle (ORCL) hired Peter Magnusson, former director of engineering at Google (GOOG) and VP of engineering at Snapchat, two weeks ago in a move to improve its cloud computing business, Re/code reports, citing sources familiar with the move. Reference Link
16:22 EDTIBMIBM initiated with an Underperform at Jefferies
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14:37 EDTGOOGYahoo looking to make Tumblr another YouTube, Business Insider says
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14:21 EDTAGNAllergan in good position to be patient given raised outlook, says BMO Capital
After speaking with Allergan's (AGN) CEO and CFO, BMO Capital believes the company is increasing its intrinsic value with its raised earnings guidance and that it is in a good position to be patient given that Valeant (VRX) most recent bid represents an 8% discount to Allergan's current share price. BMO said it is reviewing its forecasts for Allergan after the guidance increase, noting that it previously valued Allergan at $230 per share on a standalone basis. The firm maintains its Outperform rating on the stock.
12:28 EDTAGNAllergan price target raised to $230 from $210 at BTIG
BTIG said it expected Allergan to beat the consensus forecast for Q3 EPS, but not by as much as it did, and the firm did not expect the company to raise its future EPS outlook yet again. BTIG feels the stock's move higher indicates Valeant (VRX) or Actavis (ACT) would need to bid above $200 if they hope to buy the company. BTIG maintains its Buy rating on Allergan and raised its price target on the stock to $230 from $210.
11:14 EDTAGNAllergan raises outlook again as Valeant pursuit continues
Drug maker Allergan (AGN) this morning preannounced stronger than expected results and again raised its fiscal year profit guidance. The beat and raise results come after The Wall Street Journal reported on Tuesday that drug maker Valeant (VRX) and hedge fund Pershing Square intend to raise their previous bid for Allergan by $15 per share to about $191. Meanwhile, also on Tuesday, Reuters said that drug maker Actavis (ACT) plans to make a new merger offer to Allergan, and sources indicated to the news service that Allergan may be willing to consider an offer from Actavis if the bid is for more than $200 per share. WHAT'S NEW: Allergan estimated that its third quarter earnings per share would come in at $1.76-$1.78, versus analysts' consensus estimate of $1.48. The drug maker had previously provided Q3 EPS guidance of $1.44-$1.47. Allergan raised its fiscal 2014 EPS guidance to $6.20-$6.25 from $5.74-$5.80. Analysts' consensus estimate was $5.81. This is the fourth time that Allergan has raised its guidance this year. Allergan said that its markets have been strong around the world, while it is gaining market share in most categories. ANALYST REACTION: In a note to investors today, Wells Fargo analyst Larry Biegelsen wrote that, in the wake of Allergan's guidance increase, the company's price to earnings multiple could expand to 22x its estimated 2016 earnings, up from its current multiple of 19x. In addition to the raised guidance, a potential accretive acquisition by Allergan and the possibility that it will be acquired make such an increase in the multiple "quite possible," Biegelsen contended. He kept an Outperform rating on the stock. WHAT'S NOTABLE: Allergan has reportedly held advanced talks about acquiring another company in the sector, Salix (SLXP), although CNBC's David Faber on October 2 reported that the talks between the two companies about a merger had "cooled considerably." PRICE ACTION: In late morning trading, Allergan rose fractionally to $191.06 while Valeant slid 1.5% to $124.08.
10:06 EDTCREECree calls active on renewed takeover chatter
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10:00 EDTAGNOn The Fly: Analyst Initiation Summary
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09:42 EDTCREERumor: Cree moves up on renewed takeover chatter
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09:41 EDTCOHBofA/Merrill retail analysts hold an analyst/industry conference call
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08:50 EDTAGNAllergan shares have further upside, says Wells Fargo
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06:49 EDTAGNAllergan cites momentum from robust growth of worldwide markets
The company also cites increases in market share in most categories, many regulatory approvals for new products in the U.S. and internationally, and targeted investments to create and grow new products and new categories. Exceptional growth in EPS from the acceleration in sales but also in leveraging of sales and marketing expenditures. The benefits from Allerganís previously announced restructuring program will be reflected in the Companyís actual results beginning in the fourth quarter of 2014 and continuing through 2015.
06:47 EDTAGNAllergan sees FY16 non-GAAP EPS $10.25
06:47 EDTAGNAllergan sees FY15 non-GAAP EPS $8.60, consensus $8.25
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06:47 EDTAGNAllergan sees FY14 non-GAAP EPS $6.20-$6.25, consensus $5.81
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06:46 EDTAGNAllergan raises Q3 EPS to $1.76-$1.78 from $1.44-$1.47, consensus $1.48
Expects Q3 product net sales to increase in excess of 17% in dollars compared to product net sales from 3Q13.
06:34 EDTCREEGlobal LED lighting demand to grow 180%-190% by 2018, DigiTimes Research says
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06:29 EDTGOOGIDC: Worldwide PC shipments down 1.7% in Q3, DigiTimes reports
Worldwide PC shipments are down 1.7% with 78.5M units shipped in Q3, reports DigiTimes, citing the IDC. Shipments in the US grew 4.3% to 17.3M, with growth centered from strong momentum in te portables category. Reference Link
06:26 EDTGOOGGoogle's tax arrangement facing new challenge by France, WSJ reports
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