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June 6, 2014
09:16 EDTHTZ, BTU, HDSN, SEAC, CMTL, NVAX, RALY, GWPH, ANGI, DMNDOn The Fly: Pre-market Movers
HIGHER: Angie's List (ANGI), up 7% after shares upgraded at BofA Merrill Lynch... GW Pharmaceuticals (GWPH), up 7.5% after receiving Fast Track designation for Epidiolex... Comtech (CMTL), up 6% after Q3 earnings beat, raised FY14 outlook. LOWER: Hertz (HTZ), down 10% after warning its Q1 results are "likely to be below consensus," disclosing that errors were identified during its preparation of its financial statements and that certain statements must be restated... Rally Software (RALY), down 23% after downgraded at William Blair, Deutsche Bank and Needham following the company's Q1 results... Novavax (NVAX), down 7.5% after filing to sell $100M of common stock... SeaChange (SEAC), down 10% after reporting disappointing earnings, guidance... Diamond Foods (DMND), down 7.5% after reporting lower than expected Q3 results... Hudson Technologies (HDSN), down 6.5% after 6M share spot secondary offering of shares priced at $2.50... Peabody (BTU), down 2% after shares downgraded at Goldman.
Check below for free stories on HTZ;ANGI;GWPH;RALY;NVAX;CMTL;SEAC;HDSN;BTU;DMND the last two weeks.
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September 11, 2014
16:18 EDTHTZHertz reaches agreement-in-principle with Carl Icahn to add three directors
Hertz announced that it has reached an agreement-in-principle with Carl C. Icahn and affiliated entities to appoint Vincent J. Intrieri, Samuel Merksamer and Daniel A. Ninivaggi to the company's board as new independent directors. In connection with the anticipated director appointments, three existing directors will retire from the board, effective upon the appointments of the new directors to the board. In this connection, Icahn has agreed not to run a proxy contest at the company's 2015 Annual Meeting of Shareholders and to vote in favor of the company's nominees at the Annual Meeting. Two of the new directors will be part of the five-person search committee leading the process to find a permanent CEO of Hertz. Following the contemplated appointments and retirements, Hertz will have a nine-person Board, with the Board expanded to 10 directors upon the appointment of a permanent CEO. Under the agreement-in-principle, the company's shareholder rights plan will be amended to increase the triggering percentage to 20% and to implement other changes. The agreement-in-principle remains subject to negotiation and execution of definitive documentation.
16:17 EDTHTZHertz reaches agreement-in-principle with Carl Icahn to add three directors
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10:01 EDTCMTLComtech awarded $1.2M in equipment orders
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05:53 EDTHTZStocks with implied volatility movement; SDS HTZ
Stocks with implied volatility movement; UltraShort S&P500 ProShares (SDS) 24, Hertz (HTZ) 38 according to iVolatility.
September 10, 2014
11:33 EDTRALYRally Software management to meet with JMP Securities
Meeting to be held in New York on September 16 hosted by JMP Securities.
09:06 EDTHTZHertz appoints Christian J. Cunningham as Chief Human Resources Officer
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09:06 EDTHTZHertz appoints Christian J. Cunningham as Chief Human Resources Officer
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07:42 EDTSEACSell-off of TVE stocks ahead of conference misplaced, says Brean Capital
Brean Capital said the sell-off on small cap TV Everywhere, or TVE, stocks such as ARRIS (ARRS), Rentrak (RENT) and SeaChange (SEAC) ahead of the International Broadcast conference are misplaced. The firm attributed the weakness in the group to negative commentary out of one of the suppliers of one of the companies, but believes the sentiment is misplaced in light of strong secular indicators. Brean believes the upcoming conference will highlight new business and has previously been a catalyst for the group.
06:43 EDTHTZTypo causes confusion Icahn's stake in Gannett, NY Times says
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September 9, 2014
07:26 EDTRALYDeutsche Bank to hold a conference
Technology Conference to be held in Las Vegas on September 9-11 with webcasted company presentations to begin on September 9 at 10:30 am; not all company presentations may be webcasted. Webcast Link
September 8, 2014
10:36 EDTHTZHertz spikes higher as CEO Frissora resigns amid shareholder pressure
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09:24 EDTHTZHertz CEO stepping down a near-term positive, says Wells Fargo
Wells Fargo views the decision for Mark Frissora to step down as Chairman and CEO of Hertz (HTZ) as a prudent one that reduces the chances management and the board could get unnecessarily distracted from fixing operations and sees the change as a near-term positive for the stock. The firm thinks a thorough search for a new CEO is needed and believes former Dollar Thrifty (DTG) CEO Scott Thompson could be a candidate for the opening. Wells maintains its Outperform rating on Hertz.
09:12 EDTHTZOn The Fly: Pre-market Movers
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08:19 EDTHTZHertz volatility expected to move on Frissora to step down as Chairman and CEO
Hertz Global volatility may move after announcing Mark Frissora to step down as Chairman and CEO. Overall option implied volatility of 35 is near its 26-week average of 36 according to Track Data, suggesting non-directional price movement.
08:07 EDTHTZHertz jumps 6% after announcing Chairman Frissora steps down
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08:04 EDTHTZHertz announces Mark Frissora to step down as Chairman and CEO
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September 7, 2014
12:31 EDTNVAXNovavax presents data on RSV F nanoparticle vaccine induced monoclonal antibody
Novavax presented preclinical data demonstrating that antibodies generated to its RSV F-protein nanoparticle vaccine candidate bind to the site II epitope of the RSV F-protein with a higher affinity than palivizumab, Syangis, at the 54th Interscience Conference on Antimicrobial Agents and Chemotherapy, ICAAC, in Washington, DC. In poster session 024: I-314b titled "Development and Characterization of Recombinant RSV Nanoparticle Vaccine Induced Monoclonal Antibody.", Novavax used its RSV F vaccine to generate a murine monoclonal antibody, NVX4C6, that binds to the antigenic site II on the RSV F-protein. Using Surface Plasmon Resonance, Novavax was able to compare the binding affinity of NVX4C6 and palivizumab to the antigenic site II. This experiment demonstrated that Novavax' RSV F vaccine can induce antibodies to the antigenic site II that have a higher binding affinity to the site than palivizumab. In addition, NVX4C6 was shown to have a slightly different specificity to the site II epitope and to recognize mutated site II peptide not recognized by palivizumab, suggesting that NVX4C6 may neutralize palivizumab escape mutants.
September 4, 2014
16:06 EDTSEACSeaChange reports Q2 EPS (8c), consensus (18c)
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15:23 EDTSEACNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Cooper Companies (COO), consensus $1.90; Esterline Technologies (ESL), consensus $1.40; Verint Systems (VRNT), consensus 60c; Finisar (FNSR), consensus 32c; Zumiez (ZUMZ), consensus 23c; SeaChange (SEAC), consensus (18c); Ambarella (AMBA), consensus 28c; Infoblox (BLOX), consensus 1c.
08:23 EDTGWPHGW Pharmaceuticals mentioned positively at Leerink
Leerink says it has increased confidence in GW Pharmaceuticals' cannabinoid platform after analyzing the clinical potential of GWP42003 for Ulcerative Colitis. The firm believes GWP42003 is being largely overlooked by investors, creating low expectations into the Phase II data. Leerink has an Outperform rating on GW with a $110 price target.
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