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Stock Market & Financial Investment News

News For BRCM;GILD;GE;BA;DVAX;CSCO;WPRT;CELG;DKS;CLNE;EXEL;HD;SODA;O;SAND;QCOM From The Last 14 Days
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October 7, 2014
10:08 EDTSODASodaStream sinks after Q3 profit warning
Shares of SodaStream International (SODA) are sinking this morning after the company warned that revenue for the third quarter of 2014 will come in well below Wall Street estimates. SodaStream develops, manufactures and markets home beverage carbonation systems and related products. WHAT'S NEW: This morning, SodaStream reported preliminary Q3 revenue of $125M, significantly missing analysts' consensus estimate of about $154M. The company said it expects operating income of about $8.5M for the quarter. Chief Executive Officer Daniel Birnbaum cited an underperformance in the U.S. market as the primary driver of the quarterly shortfall, and said the results are an indication that the company must alter its course and improve its execution. Birnbaum said in a statement that the company is "very disappointed" by its recent performance, noting that it has "not succeeded in attracting new consumers to our home carbonation system at the rate we believe should be achieved." Birnbaum said the company has started a strategic shift towards health and wellness, mostly in the U.S., where he believes the message "will resonate more strongly" with customers. In addition, SodaStream is developing a growth plan, and more details are expected when Q3 results are reported later this month. WHAT'S NOTABLE: The carbonated beverage machine company has been the subject of buyout rumors for months. In July, Bloomberg reported that the company was in talks to go private for around $40 per share. In September, Israel's TheMarker said SodaStream was in talks to sell itself to a British investment fund for $840M, or $40 per share. SodaStream has also been rumored as an acquisition target for beverage makers SABMiller (SBMRY) and Diageo (DEO) or private equity group KKR (KKR), The Independent reported last month. In July, SodaStream cut its fiscal year 2014 revenue growth view to 5% from 15% and cut its FY14 net income expectations to a 5% decrease from a 3% increase. At that time, the company said it believed sales trends for sodamakers would remain challenging in the U.S. in the second half of the year. PRICE ACTION: In mid-morning trading, SodaStream shares dropped $5.72, or 21%, to $21.85.
10:02 EDTDKSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Air France-KLM (AFLYY) upgraded to Overweight from Underweight at JPMorgan... Alcobra (ADHD) upgraded to Outperform at FBR Capital... Alon USA Partners (ALDW) upgraded to Buy from Neutral at Citigroup... Becton Dickinson (BDX) upgraded to Buy from Hold at Stifel... CNOOC (CEO) upgraded at Bernstein... CTC Media (CTCM) upgraded to Buy from Hold at Deutsche Bank... CVR Refining (CVRR) upgraded to Buy from Neutral at Citigroup... CalAmp (CAMP) upgraded to Outperform from Neutral at Macquarie... China Unicom (CHU) upgraded to Overweight from Equal Weight at Barclays... Crown Holdings (CCK) upgraded at Macquarie... Dick's Sporting (DKS) upgraded to Buy from Neutral at Goldman... Fortuna Silver Mines (FSM) upgraded to Outperformer from Sector Performer at CIBC... Franco-Nevada (FNV) upgraded to Buy from Hold at TD Securities... Horsehead Holding (ZINC) upgraded to Outperform from Market Perform at FBR Capital... Ingersoll-Rand (IR) upgraded to Buy from Neutral at Goldman... IntercontinentalExchange (ICE) upgraded to Buy from Neutral at Citigroup... International Paper (IP) upgraded at BofA/Merrill... Leidos (LDOS) upgraded to Neutral from Underperform at Credit Suisse... Lennox (LII) upgraded to Positive from Neutral at Susquehanna... MGM Resorts (MGM) upgraded to Buy from Hold at Deutsche Bank... Natus Medical (BABY) upgraded to Outperform at William Blair... Noodles & Company (NDLS) upgraded to Buy from Hold at Jefferies... Phillips 66 (PSX) upgraded to Buy from Neutral at Citigroup... RockTenn (RKT) upgraded to Buy from Neutral at BofA/Merrill... Smith & Nephew (SNN) upgraded to Hold from Sell at Societe Generale... Sotheby's (BID) upgraded to Buy from Hold at Craig-Hallum... Sun Life Financial (SLF) upgraded to Overweight from Equal Weight at Barclays... WellCare (WCG) upgraded at Sterne Agee... Yamana Gold (AUY) upgraded to Neutral from Underweight at HSBC.
09:35 EDTHDHome Depot management to meet with Deutsche Bank
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09:14 EDTSODAOn The Fly: Pre-market Movers
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08:08 EDTSODASodaStream down 13% in pre market trade after Q3 revenue warning
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08:01 EDTBABoeing says cannot plan for 'armageddon' of Ex-Im bank closure, Bloomberg says
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07:56 EDTSODASodaStream trading to resume at 8:00 am ET
07:54 EDTSODASodaStream volatility expected to move on preliminary Q3 revenue miss
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07:36 EDTCSCOCisco unlikely to split-up despite speculation, says UBS
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07:32 EDTSODASodaStream CEO: We are disappointed in our recent performance
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07:31 EDTCELGCelgene to present long-term efficacy and safety data on oral Otezla
Celgene International Sŕrl, a wholly-owned subsidiary of Celgene Corporation, announced that the latest research findings on OTEZLA, the company’s oral, selective inhibitor of phosphodiesterase 4, in plaque psoriasis and psoriatic arthritis will be presented at the 23rd European Academy of Dermatology and Venereology Congress in Amsterdam, October 8 – 12. In total, 11 abstracts will be presented at the meeting. OTEZLA data to be presented include long-term results from Celgene’s pivotal trial, ESTEEM 2 and pooled analyses of safety and tolerability results from the ESTEEM 1 and 2 studies in patients with moderate to severe plaque psoriasis. Additional analyses will evaluate the effect of OTEZLA on pruritus, difficult-to-treat areas such as nail and scalp, and palmoplantar psoriasis, work productivity and improvements in health-related quality of life. An analysis of long-term results from the PALACE clinical trial program evaluating OTEZLA in patients with active psoriatic arthritis will also be presented at the meeting. The analysis assesses the effect of OTEZLA treatment through 52 weeks on the signs and symptoms of psoriatic arthritis, including enthesitis and dactylitis in patients with pre-existing enthesitis or dactylitis.
07:31 EDTSODASodaStream reports Q3 preliminary revenue $125M, consensus $154.12M
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07:24 EDTCELGAlliance for Regenerative Medicine
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07:11 EDTSODASodaStream trading halted, pending news
06:52 EDTCSCOAruba Networks may be displacing Cisco in some verticals, says RBC Capital
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06:46 EDTWPRTWestport volatility increases as shares pullback to six-year low
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06:35 EDTCLNEClean Energy volatility increases as shares pullback to five-year low
Clean Energy October and November call option implied volatility is at 56, December is at 52, January is at 51; compared to its 26-week average of 44 according to Track Data, suggesting large price movement.
06:30 EDTDKSDick's Sporting upgraded to Buy from Neutral at Goldman
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06:03 EDTCLNEClean Energy announced fueling agreement with Dillon Transport
Clean Energy Fuels announced at the American Trucking Association Management Conference and Exhibition a multi-year fueling agreement to further support Dillon Transport’s ongoing leadership in heavy-duty natural gas truck fueling. Clean Energy is scheduled to supply Dillon’s growing fleet with approximately 2.5M additional DGEs of CNG annually and expects to open three additional public truck-friendly natural gas stations in Houston, Texas, Midland, Texas, and West Atlanta, Ga., over the remainder of the year to accommodate the increased fuel sales.
05:29 EDTBABoeing forecasts world air cargo traffic to double in next 20 years
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