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Stock Market & Financial Investment News

News Breaks
December 12, 2012
10:00 EDTMDLZ, RCL, TEVA, BXP, XEL, PTEN, IEX, VOLC, SF, NVS, ZIOP, STX, NOVOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: IDEX Corp. (IEX) downgraded to Hold from Buy at Brean Capital... National Oilwell (NOV) downgraded to Outperform from Buy at CLSA... Novartis (NVS) downgraded to Hold from Buy at Deutsche Bank... Patterson-UTI Energy (PTEN) downgraded to Outperform from Buy at CLSA... Seagate (STX) downgraded to Underweight from Neutral at JPMorgan... Stifel Financial (SF) downgraded to Underperform from Market Perform at Wells Fargo... Xcel Energy (XEL) downgraded to Neutral from Outperform at Macquarie... Ziopharm (ZIOP) downgraded to Hold from Buy at Jefferies... Boston Properties (BXP) downgraded to Hold from Buy at Stifel Nicolaus... Volcano (VOLC) downgraded to Neutral from Outperform at Credit Suisse... Teva (TEVA) downgraded to Market Perform from Outperform at Leerink... Royal Caribbean (RCL) downgraded to Neutral from Buy at Longbow... Mondelez (MDLZ) downgraded to Hold from Buy at Argus.
News For IEX;NOV;NVS;PTEN;STX;SF;XEL;ZIOP;VOLC;BXP;TEVA;RCL;MDLZ From The Last 14 Days
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April 14, 2014
08:04 EDTSFStifel Financial upgraded to Neutral from Negative at Susquehanna
Susquehanna upgraded Stifel Financial to Neutral with a $40 price target.
07:32 EDTSTXSeagate upgraded to Buy from Hold at Argus
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April 11, 2014
08:49 EDTBXPBoston Properties signs 714,000 square foot lease with Salesforce.com
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April 10, 2014
07:31 EDTMDLZMondelez spends $110M on new Russia factory, Bloomberg says
Mondelez is planning to spend $110M on a new plant in Russia, which will add enough capacity to make 50K tons of snacks annually, according to Bloomberg, citing comments from company spokesman Michael Mitchell. The new factory is projected to create 180 jobs. Reference Link
April 9, 2014
13:35 EDTMDLZHershey melts after Goldman downgrade
Shares of chocolate maker Hershey (HSY) are falling after Goldman Sachs lowered its rating on the stock to a Sell. WHAT'S NEW: After the market closed last night, Goldman Sachs downgraded Hershey to Sell from Neutral, saying the stock is "priced for perfection" and that the company's cycle of strong earnings growth will end. Goldman lowered its price target for the stock to $90 from $105. Goldman Sachs analysts Jason English, Sean King and Manpreet Sethl were cautious on Hershey, saying that they expect the company's domestic momentum to fade. Goldman lowered its earnings per share estimates for Hershey's fiscal years 2014 through 2016 by 3%-6% to reflect lower sales and margin projections. While they said that they still perceive Hershey as a "best-in-breed company" whose international momentum will continue, the analysts believe expectations for the company are on the verge of turning more negative. OTHERS TO WATCH: Other companies in the chocolate industry include Nestle (NSRGY) and Mondelez (MDLZ), which owns Cadbury. PRICE ACTION: During afternoon trading, shares of Hershey fell $2.57 or $2.53%, to $99.15.
10:18 EDTNOVNational Oilwell sees NOW spinoff completed in Q2
National Oilwell Varco announced that Marcela E. Donadio has been appointed to the National Oilwell Varco Board of Directors effective April 8. NOV also announced that NOW Inc. has filed its amended Form 10 with the Securities and Exchange Commission. The company anticipates the spin will be completed in 2Q14.
10:06 EDTMDLZOn The Fly: Analyst Initiation Summary
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07:09 EDTNVSReckitt Benckiser may be frontrunner for Merck unit, Bloomberg reports
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April 8, 2014
16:33 EDTIEXIDEX Corp. raises quarterly dividend by 22% to 28c per share
The dividend will be paid April 30, to shareholders of record as of April 16.
16:07 EDTMDLZMondelez initiated with a Reduce at Nomura
Target $31.
11:03 EDTZIOPZiopharm presents anti-tumor effects of Ad-RTS-mIL-12
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08:46 EDTTEVATeva announces first approval, launch of generic Lovaza capsules in the U.S.
Teva (TEVA) announces the approval of the generic equivalent to Lovaza in the United States. Teva believes it is first-to-file and thus far is the only company to receive an approval from FDA. Teva plans to commence shipping immediately. Lovaza Capsules, marketed by GlaxoSmithKline (GSK), had annual sales of approximately $1.1B in the United States, according to IMS data as of December 2013.
07:22 EDTNVSCaSA-ISPE to hold a conference
21st Annual Lilfe Sciences Technology Conference is being held in Raleigh, North Carolina on April 8.
April 7, 2014
14:09 EDTTEVASun Pharmaceutical agrees to acquire generic drugmaker Ranbaxy
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09:05 EDTRCLRoyal Caribbean promotes Adam Goldstein to President and COO
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07:27 EDTNVSAmerican Association of Cancer Research to hold annual meeting
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05:32 EDTNVSNovartis Bexsero vaccine receives FDA Breakthrough Therapy designation
Novartis announced that Bexsero, Meningococcal Group B Vaccine, has received a Breakthrough Therapy designation from the FDA. Bexsero is already approved in Europe, Canada and Australia to help protect against invasive meningococcal disease caused by serogroup B. Novartis plans to file for U.S. licensure of Bexsero as early as Q2; exact timing will depend on guidance from the FDA. This is the fourth Breakthrough Therapy designation for Novartis, underscoring leadership in developing innovative therapies and vaccines. This announcement comes on the heels of a landmark decision from regulators in the UK, where the Joint Committee on Vaccination and Immunisation recommended the inclusion of Bexsero in the country's National Immunisation Programme for routine use in infants from two months of age.
April 4, 2014
15:31 EDTNOVNational Oilwell upgraded to Buy from Hold at Standpoint Research
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10:45 EDTTEVAMylan rises despite Meda rejecting takeover offer
Mylan (MYL) shares are higher this morning following a Financial Times report of its desire to buy Swedish rival Meda. Subsequent to the story being published, Meda confirmed it had been in talks with Mylan but rejected the company's takeover offer. WHAT'S NEW: The Financial Times reported that Mylan was considering buying Meda, a Swedish drugmaker, in a deal that would create a $23B+ pharmaceuticals business. Mylan reportedly hired advisers to put a deal together for Meda, and though the value of a deal was not noted, sources said Mylan was likely to pay a "significant" premium to Meda's market value, which was $4.5B at the end of trading on Thursday. Mylan's market value currently stands at $18.5B. A combination of the drugmakers would create a company with annual revenues of around $9B, the FT said, noting that would be half the size of generic drug rival Teva (TEVA). WHAT'S NOTABLE: Meda's board of directors confirmed that it was contacted by Mylan regarding a proposal to merge the companies, but the board decided to reject the proposal. Meda said all discussions between the company and Mylan have been terminated "without further actions." ANALYST REACTION: Citigroup upgraded Mylan to Buy from Neutral and raised its price target on the stock to $61 from $52 this morning. The firm cited potential operational and tax benefits from an acquisition of Meda, stating that in addition to expanding Mylan's geographic presence, the deal would increase its presence in specialty, OTC and branded generics. OTHER NEWS: Mylan sued Celgene (CELG) to block that company's efforts to keep generic versions of Revlimid and Thalomid off the market, Reuters reported. PRICE ACTION: Mylan shares are up $2.98, or 5.98%, to $52.84 in mid-morning trading.
06:08 EDTPTENPatterson-UTI Energy reports March drilling activity
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