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January 22, 2014
UP AFTER EARNINGS: Brinker International (EAT) up 8%... Super Micro Computer (SMCI), up 12.4%... Nuance (NUAN), up 8%... Cree (CREE), up 1%. ALSO HIGHER: VisionChina Media (VISN), up 46% after partnering with Baidu (BIDU) for digital television advertising... Evoke (EVOK) up 37% after intranasal metoclopramide found more effective in diabetics... DOWN AFTER EARNINGS: IBM (IBM), down 3.5%... Coach (COH), down 6.4%... AMD (AMD), down 7.7%... Motorola Solutions (MSI), down 8.3%... General Dynamics (GD), down 2%... Freeport-McMoRan (FCX), down 2%. ALSO LOWER: AMAG (AMAG), down 15.9% after receiving complete response letter from FDA for Feraheme sNDA... VMware (VMW), down 2.4% after acquiring AirWatch for $1.18B cash, $365M of installment payments... Bob Evans (BOBE), down 2% after lowering FY14 EPS outlook... MER Telemanagement (MTSL), down 18.3% after terminating agreement with SBC Communications.
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November 24, 2015
14:14 EDTVMWBig shareholders threaten votes against EMC-Dell deal, Re/code reports
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06:28 EDTEATImpact of low oil prices extends beyond oil industry, WSJ says
The fall in crude prices is having a ripple effect that extends beyond the oil industry, the Wall Street Journal reports. Sales of single family homes in Houston were down 10% year over year in October, the report says, and restaurants in Texas and the Southwest have seen a drop in sales and customer traffic. Brinker (EAT) credited weak oil prices for downbeat results in states that rely heavily on the energy industry, the report says. Occidental Petroleum (OXY) and American Eagle Energy (AMZG) have both exited Bakken last month, with Occidental selling its North Dakota assets and American Eagle seeking chapter 11 bankruptcy protection, the report says. Reference Link
November 23, 2015
08:20 EDTIBMMerge Healthcare, eviCore partner to streamline medical imaging process
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08:17 EDTVMWEMC risk/reward favorable, says Bernstein
Bernstein notes that EMC's stock is trading at an approximately 24% discount to the valuation at which it agreed to be acquired by Dell and Silver Lake. The firm blames the discrepancy on the decline in VMware's stock since the deal was announced and concerns about the VMware tracking stock. Bernstein blames the decline in VMware's stock on concerns about its corporate governance following the deal and its weak revenue guidance issued last month. Nonetheless, Bernstein thinks the EMC deal will probably close and sees the risk/reward ratio of the stock as positive. It keeps a $30 price target and Outperform rating on the shares.
08:11 EDTAMAGAMAG Pharmaceuticals responds to CRL from FDA for Makena
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November 20, 2015
10:31 EDTVMWAttorneys say EMC deal tax worries overblown, dealReporter says
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10:00 EDTIBMOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Acceleron (XLRN) initiated with an Outperform at Oppenheimer... CSRA (CSRA) initiated with an Outperform at Cowen... HP Enterprise (HPE) initiated with a Neutral at Baird... Hortonworks (HDP) initiated with a Buy at Needham... IBM (IBM) initiated with an Outperform at JMP Securities... ITC Holdings (ITC) initiated with a Buy at Citi... Sucampo (SCMP) initiated with a Hold at Jefferies.
07:13 EDTIBMIBM initiated with an Outperform at JMP Securities
JMP Securities analyst Greg McDowell initiated IBM with an Outperform rating and $167 price target on shares. McDowell believes sentiment is too negative and investors do not appreciate its leadership position in multiple technology categories and sticky customer base, the potential for a crossover point within the next two years, when the fast-growing revenue components of the business will offset declines in the more mature businesses, its revenue diversity, with software now a significant portion of revenue and hardware less, and its capacity for self-renewal.
05:34 EDTNUANStocks with implied volatility below IV index mean; NUAN RAD
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November 19, 2015
16:11 EDTVMWGoogle names VMware co-founder to lead cloud businesses
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13:45 EDTIBMIBM mulling 3,000 job cuts in Germany, Reuters says
IBM is weighing cutting 3,000 jobs in Germany over the next two years, Reuters reports, citing Wirschafts Woche magazine. The magazine was quoting a union leader who sits on the firm's supervisory board, the report says. Reference Link
12:19 EDTAMAGOn The Fly: Top stock stories at midday
Stocks have struggled for direction since the open and spent the morning moving in a narrow range. The Dow has held up fairly well considering the weakness seen in UnitedHealth (UNH), which has declined after the insurer cut its fiscal 2015 profit guidance, citing weakness in individual health insurance policies it markets through exchanges. Oil prices remain under pressure, with benchmark U.S. crude trading back below $42 per barrel. ECONOMIC EVENTS: In the U.S., initial jobless claims continued to hover around four-decade lows, with 271,000 first-time claims filed in the week ended November 14. The Philly Fed index rose 6.4 points to 1.9 in November, better than the forecast for a -0.5 reading. In Europe, minutes from the most recent European Central Bank policy meeting showed that some participants called for more stimulus amid deflation risks, weak oil prices and a sluggish recovery in the euro-area. In Asia, the Bank of Japan maintained its current pace of monetary stimulus, as widely expected. COMPANY NEWS: The shares of health insurer UnitedHealth and a number of other companies in the sector are falling after the Dow member lowered its profit outlook for this fiscal year, citing weakness in individual health insurance policies it markets through exchanges. UnitedHealth said it has pulled back on its marketing efforts for individual exchange products in 2016 and is "evaluating the viability of the insurance exchange product segment." Near noon, UnitedHealth fell about 5%, while Aetna (AET) declined nearly 6%, Humana (HUM) droped more than 3.5%, Anthem (ANTM) declined over 6% and Cigna (CI) slid 4%... Press reports indicate that talks between Pfizer (PFE) and Allergan (AGN) are heating up and that a deal is nearing, but simultaneously the U.S. government's rhetoric around the type of "inversion" deal the two pharmaceutical giants are discussing is getting ratcheted up as well. Last night, Bloomberg reported that Pfizer is nearing an agreement to acquire Allergan for $370 to $380 per share, citing people familiar with the matter. The two companies are aiming to announce a deal as early as Monday, sources told the publication. However, CNBC's David Faber reported, citing sources, that a deal will not be announced on Monday, but Pfizer and Allergan are in the "final innings" of merger talks. The deal will consist of all stock and Pfizer is likely to offer 11-plus shares per Allergan share, Faber noted. Amid the reports, Treasury Secretary Jacob Lew said that his department will release "targeted guidance" later this week meant to "deter and reduce further the economic benefits of corporate inversions" like the one being contemplated by the drugmakers... Square (SQ) completed its initial public offering of stock and rose about $4 per share to trade near $13 around noon after pricing last night at $9 per share. CEO Jack Dorsey, who leads both Square and Twitter (TWTR) as CEO, said in an interview following the opening that the teams behind him make him able to simultaneously hold both positions. Twitter rose about 1.4% to $26.25 in midday trading following Square's entry to the public markets. MAJOR MOVERS: Among the notable gainers was Keurig Green Mountain (GMCR), which rallied 22% after it reported better than expected quarterly earnings and guided for fiscal 2016. Also higher was (CTRP), which gained 19% after no fewer than three analysts raised their price target on the company's stock following upbeat fourth quarter earnings. Among the noteworthy losers was Kirkland's (KIRK), which fell 30% after the company reported downbeat quarterly earnings and provided lower than expected guidance. Also lower was AMAG Pharmaceuticals (AMAG), which lost over 8.5% after it received a complete response letter from the FDA for a single-dose vial of Makena, a treatment to reduce the risk of preterm birth in at-risk patients. In addition, Best Buy (BBY) fell 3% after it reported better than expected third quarter earnings but worse than expected same-store sales growth and also guided toward "near-flat" revenue for its domestic business in the holiday quarter. INDEXES: Near midday, the Dow was down 17.44, or 0.1%, to 17,719.72, the Nasdaq was up 2.36, or 0.05%, to 5,077.57, and the S&P 500 was down 3.67, or 0.18%, to 2,079.91.
10:25 EDTNUANOptions with decreasing implied volatility
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10:00 EDTEATOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Airgas (ARG) downgraded to Neutral from Accumulate at Seaport Global... Bloomin' Brands (BLMN) downgraded to Buy from Conviction Buy at Goldman... Brinker (EAT) downgraded to Neutral from Buy at Goldman... Civitas Solutions (CIVI) downgraded to Outperform from Strong Buy at Raymond James... Columbia Sportswear (COLM) downgraded on a more cautious outloook at BofA/Merrill... Fairchild (FCS) downgraded to Neutral from Buy at Citi... Lennox (LII) downgraded to Neutral from Buy at Longbow... Newfield Exploration (NFX) downgraded to Neutral from Buy at Goldman... Regis (RGS) downgraded to Neutral from Overweight at Piper Jaffray... Synergy Resources (SYRG) downgraded to Accumulate from Buy at KLR Group... Titan International (TWI) downgraded to Sell from Neutral at Goldman... eLong (LONG) downgraded to Hold from Buy at Brean Capital.
10:00 EDTGDOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Dick's Sporting (DKS) upgraded to Buy from Neutral at Monness Crespi... Fairchild (FCS) upgraded to Neutral from Underperform at Credit Suisse... Fiesta Restaurant (FRGI) upgraded to Strong Buy from Outperform at Raymond James... General Dynamics (GD) upgraded to Buy from Hold at Argus... Genomic Health (GHDX) upgraded to Outperform from Market Perform at Cowen... National Grid (NGG) upgraded to Outperform from Sector Perform at RBC Capital... ON Semiconductor (ON) upgraded to Buy from Neutral at Citi... Papa John's (PZZA) upgraded to Buy from Neutral at Sidoti... QEP Resources (QEP) upgraded to Buy from Neutral at Goldman... Seagate (STX) upgraded to Buy on selloff, dividend yield at Craig-Hallum... Sunoco (SUN) upgraded to Outperform at Credit Suisse... Tetraphase (TTPH) upgraded to Buy from Neutral at SunTrust... Wendy's (WEN) upgraded to Conviction Buy from Neutral at Goldman.
09:16 EDTAMAGOn 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.
07:49 EDTGDGeneral Dynamics upgraded to Buy from Hold at Argus
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06:12 EDTEATBrinker downgraded to Neutral from Buy at Goldman
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November 18, 2015
17:44 EDTAMAGAMAG Pharmaceuticals receives CRL from FDA for single-dose vial of Makena
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16:32 EDTMSIMotorola Solutions to delist from Chicago Stock Exchange
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