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December 10, 2012
12:20 EDTHON, MCD, DECK, IN, HPQ, ZGNX, UNXLOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday as some encouraging data from China offset increased worries about Europe fueled by the surprise resignation announcement from Italy's prime minister. Stocks opened quietly amid the international news. No movement was reported on the fiscal cliff negotiations, though the President and House Speaker John Boehner did meet yesterday, and investors may continue to stay on the sidelines until more clarity on that front emerges... ECONOMIC EVENTS: In the U.S., no major economic data was reported. In Europe, Italy's benchmark bond yields spiked and its stock market fell sharply after Prime Minister Mario Monti's surprise announcement of his intention to resign, which will likely prompt early elections. In China, industrial output had its best growth rate since March, rising 10.1% in November from a year ago. However, exports slowed sharply last month, rising 2.9% year over year after growing at an 11.6% pace in October. Import growth was unchanged from a year earlier, growing 2.4%... COMPANY NEWS: On the Dow, McDonald's (MCD) reported its global same-store sales rose 2.4% in November, driven mainly by strong results in the U.S. Shares rose about 1.3%, but could not catch up to Dow pacesetter Hewlett-Packard (HPQ), which jumped over 3.5% following speculation that activist investor Carl Icahn is building a stake, though CNBC's David Faber disputed those rumors... MAJOR MOVERS: Among the notable gainers was Uni-Pixel (UNXL), up 37% after rising over 18% Friday. The company said Friday it reached a deal for its technology to be used by "a large PC manufacturer" and this morning Craig-Hallum raised its price target on shares to $22 from $13. Also higher were shares of Intermec (IN), up 23% after agreeing to be acquired by Honeywell (HON) for $10.00 per share in cash. Among the noteworthy losers was Zogenix (ZGNX), down over 46% after an FDA advisory panel voted against recommending approval for its Zohydro ER pain drug. Also lower were shares of Deckers Outdoor (DECK), down more than 5% following cautious comments from Piper Jaffray regarding evidence of higher markdowns of UGG boots... INDICES: Near noon, the Dow was up 33.99, or 0.26%, to 13,189.12; the Nasdaq was up 13.46, or 0.45%, to 2,991.50; and the S&P 500 was up 2.81, or 0.20%, to 1,420.88.
News For HPQ;MCD;UNXL;IN;HON;ZGNX;DECK From The Last 14 Days
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November 24, 2015
09:24 EDTUNXLOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Baozun (BZUN), up 7.3%... Analog Devices (ADI), up 4.3%. ALSO HIGHER: Boulder Brands (BDBD), up 8.4% after Pinnacle Foods (PF) announced that it will acquire the company for $11.00 per share... Sunedison (SUNE), up 18% after the Economic Times reported that the company plans place 400MW of upcoming solar capacity on sale... Avon Products (AVP), up 7.5% after being upgraded to Buy from Neutral at Citi... Valeant (VRX), up 2.1% after Pershing Square increases stake in the company to 9.9%... Xerox (XRX), up 2.3% after Carl Icahn reported a 7.13% stake in the company. DOWN AFTER EARNINGS: Signet Jewelers (SIG), down 6.2%... Tiffany (TIF), down 2.9%... Brocade Communications (BRCD), down 7.2%. ALSO LOWER: UniPixel (UNXL), down 44.6% after the company prices a common stock and warrant offering... U.S. Steel (X), down 4% after announcing that it will idle its Granite City Works operations.
09:04 EDTUNXLUni-Pixel prices common stock and warrant offering
Uni-Pixel announced that it entered into subscription agreements with investors for the sale of 9,625,871 units at a public offering price of 85c per nnit in a public offering resulting in expected gross proceeds to the company of $8.1M. Roth Capital Partners, LLC acted as lead placement agent in the Offering, with Ladenburg Thalmann & Co. Inc. serving as co-placement agent under the terms of a placement agency agreement entered into with Roth Capital Partners.
08:02 EDTMCDMcDonald's Wendy's poised to gain share from Burger King, says Wells Fargo
Wells Fargo believes that value offerings from Wendy's (WEN0 and McDonald's (MCD) will enable the companies to gain market share from Burger King (QSR).
November 23, 2015
18:20 EDTUNXLUni-Pixel files to sell units, no amount given
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12:26 EDTHONCredit Suisse removes General Electric from focus list after recent run-up
Shares of global industrial giant General Electric (GE) are lower in afternoon trading after Credit Suisse's Investment Policy Committee removed the company's shares from the U.S. Focus List. WHAT'S NEW: In a note to investors this morning, Credit Suisse analyst Julian Mitchel and team noted that the firm's Investment Policy Committee removed GE shares from the U.S. focus list after the recent upward move in shares. The firm, which added GE shares to its Focus List on September 16, said the catalysts that it highlighted at that time are now largely reflected in the share price. WHAT'S NOTABLE: Although it removed GE from its U.S. and Global Focus lists, Credit Suisse maintained its Overweight rating on shares and increased its price target to $34 from $31. The firm sees GE as just starting to accelerate measures to drive up its gross margins, whereas its sector peers have already been splitting, spinning off or selling assets to enhance their profit margins higher for years. With GE selling most of its capital intensive and low-to-no growth Capital business while redirecting capital to higher growth and higher margin industrial business, Credit Suisse said shares deserve a higher premium than its peers Honeywell (HON) and United Technologies (UTX). PRICE ACTION: Shares of General Electric are down 0.65% to $30.46 in midday trading.
10:00 EDTHPQOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Abercrombie & Fitch (ANF) upgraded to Peer Perform from Underperform at Wolfe Research... Constellation Brands (STZ) upgraded to Outperform from Market Perform at Cowen... Dick's Sporting (DKS) upgraded to Buy from Hold at Canaccord... Encana (ECA) upgraded to Buy from Hold at Evercore ISI... Genomic Health (GHDX) upgraded to Buy from Neutral at UBS... HP Inc. (HPQ) upgraded to Buy from Hold at Maxim... Heritage Commerce (HTBK) upgraded to Buy from Hold at Sandler O'Neill... James River Group (JRVR) upgraded on improved outlook at BMO Capital... Kellogg (K) upgraded to Outperform from Neutral at Credit Suisse... KeyCorp (KEY) upgraded to Buy from Hold at Jefferies... Och-Ziff Capital (OZM) upgraded to Outperform from Market Perform at Keefe Bruyette... PBF Energy (PBF) upgraded to Buy from Neutral at Goldman... Panera Bread (PNRA) upgraded to Buy from Hold at Maxim... Parkway Properties (PKY) upgraded to Buy from Neutral at Mizuho... PepsiCo (PEP) upgraded to Neutral from Reduce at Nomura... Sanchez Energy (SN) upgraded to Buy from Accumulate at KLR Group... Sonoco (SON) upgraded to Outperform from Neutral at Macquarie... Synchrony (SYF) upgraded to Buy from Neutral at Sterne Agee CRT... Telecom Argentina (TEO) upgraded to Neutral from Sell at Goldman... Teva (TEVA) upgraded to Buy from Neutral at Goldman... TransAlta (TAC) upgraded to Sector Perform from Underperform at RBC Capital... Universal Insurance (UVE) upgraded to Outperform at Keefe Bruyette... Willis Group (WSH) upgraded to Hold from Sell at Deutsche Bank... YPF (YPF) upgraded to Buy from Neutral at Goldman.
08:58 EDTHPQHP Inc. upgraded to Buy, price target raised to $17 at Maxim
As reported previously, Maxim analyst Nehal Chokshi upgraded HP Inc. to Buy from Hold, saying there is room for HP to raise its rate of free cash flow return to about 90% from between 50%-75% now. The analyst also sees potential for HP printing supplies to experience a temporary break amid a secular decline, chances for HP to successfully penetrate the multi-function copier market, and for its PC operating margins to expand. Chokshi raised his price target on HP shares to $17 from $14.50.
08:22 EDTHPQHP Inc. volatility elevated into Q4 and outlook
HP Inc. November weekly call option implied volatility is at 52, December is at 34, January is at 31 compared to its 2-week range of 18 to 41, suggesting large near term price movement into the expected release of Q4 results on November 24.
07:27 EDTHPQHP Inc. upgraded to Buy from Hold at Maxim
06:09 EDTHPQHP Inc. adds Titan to Engineered by HP Program
HP Inc. announced the expansion of its Engineered by HP program, collaborating with the world's fifth largest watchmaker, Titan, to infuse technology seamlessly into the way consumers live, providing them with smart accessories that are productive and responsive, but not intrusive.
November 20, 2015
06:16 EDTMCDMcDonald's to pay $355K in penalties to settle immigration discrimination suit
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November 19, 2015
09:16 EDTUNXLOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Keurig Green Mountain (GMCR), up 19%... (CTRP), up 11.8%... (CRM), up 5.4%... Perry Ellis (PERY), up 4%. ALSO HIGHER: Celladon (CLDN), up 55.9% after signing a merger agreement with Eiger BioPharmaceuticals... StemCells (STEM), up 45.7% after Phase II Pathway Study data shows motor improvement in SCI patients... UniPixel (UNXL), up 36.1% after receiving an initial mass production order from a Japanese PC manufacturer... Anavex Life Sciences (AVXL), up 16% after announcing preparation of regulatory filings based on guidance from FDA... Plug Power (PLUG), up 3.7% after securing Colruyt Group as its next GenDrive fuel cell customer in Europe. DOWN AFTER EARNINGS: Stage Stores (SSI), down 14.7%... JinkoSolar (JKS), down 7.5%... Best Buy (BBY), down 5.2%... Semtech (SMTC), down 7.5%. ALSO LOWER: AMAG Pharmaceuticals (AMAG), down 8.4% after receiving a complete response letter from the FDA its application seeking approval for a single-dose vial of Makena... Titan International (TWI), down 8.3% after being downgraded to Sell from Neutral at Goldman... Sunedison (SUNE), down 5.5% after Reuters reported that Blackstone (BX) is not interested in SunEdison investment.
09:00 EDTHPQAerohive sell-off unwarranted, says JMP Securities
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08:08 EDTUNXLUni-Pixel receives initial mass production order from Japanese PC manufacturer
UniPixel received an initial mass production order from a PC manufacturing company based in Japan for a 10-inch tablet product. UniPixel expects the initial delivery of XTouch sensors to this new customer to occur in the current quarter and 1Q16. The company expects the lifetime of the product to be in the range of three to four quarters.
07:30 EDTHONUBS to hold a conference
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November 17, 2015
06:12 EDTMCDMcDonald's to launch "McPick 2" menu on January 4, WSJ says
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November 16, 2015
18:42 EDTHONHoneywell to power Cessna's new Citation Longitude business jet
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07:03 EDTHONHoneywell acquires Satcom1
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06:11 EDTMCDTaco Bell to stop using eggs laid by caged hens by 2017, Reuters reports
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05:45 EDTHONHoneywell Aerospace expects 9,2000 deliveries of new business jets through 2025
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