News For HON;CEO;CLDX;IN;ZGNX;NXY;MCD From The Last 14 Days
|October 6, 2015|
|17:46 EDT||MCD||Restaurant stocks exposed to China slide after Yum Q3 results|
Shares of restaurant stocks with exposure to China are sliding in the after-hours after Yum! Brands (YUM) reported third quarter financial results and guidance. WHAT'S NEW: Yum! Brands reported Q3 EPS of $1.00 and revenue of $3.43B, below analysts' respective expectations of $1.07 and $3.68B. Additionally, the restaurant company lowered its fiscal year 2015 EPS growth view to low-single-digit positive from its prior view of at least 10% growth. WHAT'S NOTABLE: Yum! Brands said it sees China FY15 same store sales low-single-digit negative. Yum! Brands provided the following statement on China sales: "While it remains difficult to forecast China sales, we are now estimating full-year same-store sales to be low-single-digit negative. For the fourth quarter, this assumes mid-single-digit same-store sales growth for the Division, with positive same-store sales growth at KFC and negative same-store sales at Pizza Hut Casual Dining. Given a slower-than-expected recovery in China sales, particularly at Pizza Hut Casual Dining, as well as stronger foreign exchange headwinds, we now expect full-year EPS growth to be low-single-digit positive." PRICE ACTION: Shares of Yum! Brands are down 17% to $69.40 in after-hours trading. OTHERS TO WATCH: Other restaurant stocks with exposure to China include McDonald's (MCD) and Starbucks Corporation (SBUX). McDonald's is lower by 2%, while Starbucks is down 1.5% in after-hours trading.
|October 5, 2015|
|16:28 EDT||ZGNX||Great Point raises passive stake in Zogenix to 5.93% |
|16:16 EDT||HON||On The Fly: Top stock stories for Monday|
The Dow began the day with a triple digit jump and continued to tack on gains from there, rising nearly 2% by the time the closing bell rang. The Nasdaq and S&P also posted significant gains in the market's broad based advance. The number of advancing stocks crushed the number of declining stocks while the up volume overwhelmed the down volume. The S&P 500 is now on a five day winning streak with earnings season set to unofficially begin on Thursday, when Alcoa (AA) releases its quarterly report after the close. ECONOMIC EVENTS: In the U.S., Markit's services PMI dropped to 55.1 in the final September print, compared to the preliminary reading of 55.6 and August's 56.1 figure. ISM's services index dropped 2.1 points to 56.9 in September, versus expectations for a more modest pullback to a reading of 57.5. COMPANY NEWS: General Electric (GE) was the best performer on the Dow, advancing $1.35, or 5.3%, to $26.82 after activist investor Nelson Peltz disclosed that his firm, Trian Fund Management, has accumulated a $2.5B stake, making it one of the company's top ten shareholders. Trian, which believes GE is "executing a bold transformation" from a broad conglomerate into an industrial company, predicted that GE stock may be worth $40-$45 per share by 2017... Shares of Twitter (TWTR) rose $1.85, or 7.03%, to $28.16 after the company appointed co-founder and interim Chief Executive Jack Dorsey as permanent CEO. Analysts welcomed the news, saying Dorsey was simply "too good to pass up" despite his concurrent role as head of payments company Square. Axiom analyst Victor Anthony upgraded the stock to Buy from Hold, though the rating change was made prior to this morning's CEO news, which had been previewed last week by Re/code, was confirmed by the company... The U.S., Japan and ten other countries came to terms on the Trans-Pacific Partnership, a trade agreement meant to open agricultural markets, tighten intellectual property rules and establish a group that will have the clout to challenge China's influence in the region. Reacting to the deal, Honeywell (HON) said trade agreements like the TPP have the potential to boost exports, support jobs, and increase access abroad, while Boeing (BA) pointed out that more than 70% of its commercial airplane revenue last year came from customers outside the U.S. MAJOR MOVERS: Among the notable gainers was Spark Therapeutics (ONCE), which surged $9.09, or 20.69%, to $53.02 after the Phase 3 trial of the company's lead gene therapy product met its primary endpoint. Also higher was SunEdison (SUNE), which gained 77c, or 9.31%, to $9.04 after announcing plans to optimize its business operations by refocusing on its core markets and simplifying its structure, among other initiatives. Among the noteworthy losers were a number of Apple (AAPL) chip suppliers, with Cirrus Logic (CRUS), Skyworks (SWKS) and Avago (AVGO) falling a respective 4.5%, 1.7%, and 2.6% after Citi analysts lowered fourth quarter iPhone sales estimates. Also lower was Valeant (VRX), which lost $18.86, or 10.34%, to $163.46 after its alleged "price hike" business strategy was highlighted in reports by the New York Times and Barron's. Additionally, AtriCure (ATRC) declined 8.8% to $20.47 after releasing preliminary third quarter results and agreeing to acquire cardiac device maker nContact. INDEXES: The Dow gained 304.06, or 1.85%, to 16,776.43, the Nasdaq advanced 73.49, or 1.56%, to 4,781.26, and the S&P 500 rose 35.69, or 1.83%, to 1,987.05.
|October 2, 2015|
|18:07 EDT||MCD||Coca-Cola, other blue chips, call for Blatter to step down, WSJ says |
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|10:00 EDT||MCD||On The Fly: Analyst Initiation Summary|
Today's noteworthy initiations include: Anthem (ANTM) initiated with a Buy at Citi... Apple (AAPL) initiated with a Buy at Drexel Hamilton... BioMarin (BMRN) initiated with an Outperform at Raymond James... Brookfield Property (BPY) initiated with a Buy at Evercore IS... Carbylan (CBYL) initiated with an Outperform at JMP Securities... Centene (CNC) initiated with a Buy at Citi... Cigna (CI) initiated with a Buy at Citi... Community Health (CYH) initiated with a Neutral at Citi... Diamondback Energy (FANG) initiated with a Buy at Evercore ISI... Domino's Pizza (DPZ) initiated with a Buy at Nomura... Envision Healthcare (EVHC) initiated with a Neutral at Citi... First Merchants (FRME) initiated with an Equal Weight at Stephens... FirstService (FSV) initiated with a Buy at Sidoti... HCA Holdings (HCA) initiated with a Neutral at Citi... Hibbett Sports (HIBB) initiated with a Market Perform at Barrington... Horizon Bancorp (HBNC) initiated with an Overweight at Stephens... LifePoint (LPNT) initiated with a Buy at Citi... MEDNAX (MD) initiated with a Neutral at Citi... Madison Square Garden (MSG) initiated with a Buy at BTIG... MainSource Financial (MSFG) initiated with an Overweight at Stephens... McDonald's (MCD) initiated with a Neutral at Nomura... MutualFirst Financial (MFSF) initiated with an Equal Weight at Stephens... Old Dominion (ODFL) initiated with a Buy at BofA/Merrill... PNC Financial (PNC) initiated with a Neutral at Hilliard Lyons... Papa John's (PZZA) initiated with a Buy at Nomura... Parsley Energy (PE) initiated with a Buy at Evercore ISI... PayPal (PYPL) initiated with a Sector Weight at Pacific Crest... RSP Permian (RSPP) initiated with a Buy at Evercore ISI... Radian Group (RDN) initiated with a Market Perform at Wells Fargo... Radius Health (RDUS) initiated with an Overweight at JPMorgan... Rogers Corporation (ROG) initiated with a Neutral at B. Riley... Smart & Final Stores (SFS) initiated with a Perform at Oppenheimer... Sprint (S) initiated with a Neutral at DA Davidson... State National (SNC) initiated with an Outperform at JMP Securities... T-Mobile (TMUS) initiated with a Buy at DA Davidson... Tenet (THC) initiated with a Neutral at Citi... UnitedHealth (UNH) initiated with a Buy at Citi... Universal Health (UHS) initiated with a Neutral at Citi... Wendy's (WEN) initiated with a Neutral at Nomura... Yum! Brands (YUM) initiated with a Buy at Nomura.
|October 1, 2015|
|20:19 EDT||MCD||McDonald's initiated with a Neutral at Nomura|
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|10:37 EDT||MCD||BofA/Merrill's Top 10 US Ideas for Q4 2015|
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|07:49 EDT||HON||Honeywell shares attractive after pullback, says Oppenheimer|
Oppenheimer says that Honeywell has "resilient end markets" while its business is only moderately cyclical. The firm thinks that the company has already shown that it can overcome macro economic weakness this year, and Oppenheimer notes that the company's organic growth accelerated in Q2 versus Q1. It keeps a $117 price target and Outperform rating on the shares.
|07:31 EDT||CLDX||Leerink to hold a roundtable|
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|September 30, 2015|
|19:57 EDT||MCD||McDonald's rolls out 'brand transformation' in Canada|
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|10:00 EDT||CEO||On The Fly: Analyst Upgrade Summary|
Today's noteworthy upgrades include: Analog Devices (ADI) upgraded to Buy from Neutral at Citi... Asbury Automotive (ABG) upgraded to Neutral from Underperform at BofA/Merrill... Brookfield (BAM) upgraded to Outperform from Market Perform at BMO Capital... CNOOC (CEO) upgraded to Buy from Hold at Jefferies... Canadian Pacific (CP) upgraded to Buy from Neutral at Goldman... Citizens Financial (CFG) upgraded to Buy from Neutral at UBS... Esperion (ESPR) upgraded to Neutral from Sell at Chardan... HSBC (HSBC) upgraded to Buy from Neutral at UBS... Hecla Mining (HL) upgraded to Outperformer from Sector Performer at CIBC... Johnson Controls (JCI) upgraded to Outperform from Market Perform at William Blair... Level 3 (LVLT) upgraded to Buy from Neutral at UBS... Madison Square Garden (MSG) upgraded on asset value, share buyback outlook at Stifel... Medivation (MDVN) upgraded to Market Perform from Underperform at Cowen... PHH Corp. (PHH) upgraded to Buy from Neutral at Compass Point... Post Holdings (POST) upgraded to Buy from Neutral at SunTrust... Ralph Lauren (RL) upgraded to Buy from Neutral at UBS... Regions Financial (RF) upgraded to Buy from Hold at Sandler O'Neill... Shire (SHPG) upgraded to Hold from Reduce at HSBC... Sinopec (SNP) upgraded to Buy from Hold at Jefferies... Verifone (PAY) upgraded to Buy from Hold at Argus.
|09:02 EDT||HON||Honeywell awarded $41M by U.S. Army for radar altimeter|
Honeywell has been awarded $41M by by the U.S. Army to continue supplying its radar altimeters for use across the Army's full fleet of helicopter platforms.
|08:07 EDT||ZGNX||Zogenix reports positive top-line results from Relday Phase 1b clinical trial|
Zogenix announced positive top-line pharmacokinetic results from its Phase 1b multi-dose clinical trial of Relday, a proprietary, once-monthly subcutaneous investigational formulation of risperidone for the treatment of schizophrenia. If approved, Relday has the potential to be the first subcutaneous antipsychotic product that achieves therapeutic drug levels on the first day of administration, allows for once-monthly dosing and does not require reconstitution. Zogenix has retained Locust Walk Partners of Cambridge, MA, a transaction advisory firm for life sciences companies, to provide transaction advisory and support services for Relday, and has now initiated efforts to secure a global strategic development and commercialization partner for Relday. The Phase 1b multi-dose parallel group clinical trial enrolled 60 subjects comprised of three cohorts of patients receiving four monthly injections of Relday, at dose levels of either 60, 90 or 120 mg of risperidone per month. A fourth cohort received five bi-weekly intramuscular injections of Risperdal Consta. Risperdal Consta requires oral supplementation for the first three weeks following dosing initiation, and requires at least four doses to reach steady state. The results for Relday demonstrated that risperidone plasma concentrations in the therapeutic range were achieved on the first day of dosing, reached steady state levels following the second dose and consistently maintained therapeutic levels throughout the four-month period. In addition, dose proportionality was confirmed across the dose range intended for clinical practice (60 to 120 mg). Relday was generally safe and well-tolerated, with results consistent with the profile of risperidone and the Company's previous Phase 1 single-dose clinical trial.
|06:30 EDT||CEO||CNOOC upgraded to Buy from Hold at Jefferies (yesterday)|
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|September 29, 2015|
|17:50 EDT||MCD||McDonald's looks pricey, Barron's reports|
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|12:19 EDT||MCD||McDonald's updates Build-Your-Own-Burger program, Bloomberg reports|
McDonald's is revamping its Build-Your-Own Burger program in an effort to snap a sales slump, Bloomberg reports, citing comments from company spokeswoman Lisa McComb in an e-mail. The name of the program has been changed from TasteCrafted to Chef Crafted and will include new flavors such as maple bacon dijon and buffalo bacon, the report says. Hot jalapeno and deluxe were tossed out, the report says. "The original name 'TasteCrafted' did not resonate with consumers," McComb said. "We decided to celebrate our chefs who have created these recipes and highlight the culinary expertise of our in-house and supplier chefs." Reference Link
|11:38 EDT||MCD||McDonald's rises as analysts weigh in on fast food sector|
Shares of McDonald's (MCD) rose in morning trading after Credit Suisse upgraded the Big Mac maker to Outperform. Some McDonald's competitors were also active after Telsey Advisory initiated coverage on multiple companies in the quick-serve and fast casual restaurant space. WHAT'S NEW: Credit Suisse analyst Jason West upgraded McDonald's to Outperform and raised his price target on its shares to $112 from $110. West said that more improvements for the company are "forthcoming" even after CEO Steve Easterbrook announced positive operational and financial steps. The analyst added that checks suggest that U.S. same-store sales trends are beginning to turn as a result of operational and menu changes, as well as some new product wins. West said he sees 5%-6% possible upside to current 2016 expectations and views a favorable risk/reward of roughly 2%-3% downside as opposed to 20% upside, even if the turnaround is "fairly modest." NOTABLE INITIATIONS: Separately, Telsey Advisory Group analyst Bob Derrington initiated coverage of several companies in the restaurant sector, stamping Panera (PNRA) with an Outperform rating and a $225 price target. The analyst noted that the company's plan to become a better dining alternative continues to build traction and that same-store sales trends are likely to speed up in 2016 and 2017. Derrington initiated Jack in the Box (JACK) with an Outperform rating and a price target of $95, as he sees it being positioned for strong appreciation in the year ahead based on management's plan to revitalize and differentiate the Jack in the Box brand. The analyst also expects the company to further differentiate, improve the returns, and position its Qdoba brand for quick growth and recycle its franchise cash flow for better shareholder returns. Derrington initiated coverage of Chipotle (CMG) with a Market Perform rating and an $800 price target, saying that despite the firm's positive prospects due to better-than-most-peer same-store sales and revenue growth, the company's margin risk makes him take a more cautious approach to his rating of the stock. The analyst also tagged Buffalo Wild Wings (BWLD) with a Market Perform rating and a $220 price target, noting that the company's strong growth prospects seem to be reflected in its premium valuation. PRICE ACTION: In morning trading, McDonald's shares rose 1.6% to $97.49, Panera shares gained 0.9% to $191, Jack in the Box advanced 1.1% to $78.24, Chipotle added 1% to $715 and Buffalo Wild Wings were 1.3% higher at $195.68.
|10:00 EDT||MCD||On The Fly: Analyst Upgrade Summary|
Today's noteworthy upgrades include: Apache (APA) upgraded to Overweight from Neutral at Simmons... Autoliv (ALV) upgraded to Neutral from Sell at Goldman... Bristol-Myers (BMY) upgraded to Buy from Neutral at UBS... Bunge (BG) upgraded to Outperform from Market Perform at BMO Capital... Cerner (CERN) upgraded to Outperform from Sector Perform at RBC Capital... Continental AG (CTTAY) upgraded to Conviction Buy from Buy at Goldman... Digital Realty (DLR) upgraded to Overweight from Sector Weight at KeyBanc... FTD Companies (FTD) upgraded to Buy from Neutral at Sidoti... Intermolecular (IMI) upgraded to Outperform from Market Perform at Northland... Johnson & Johnson (JNJ) upgraded to Buy from Hold at Deutsche Bank... LDR Holding (LDRH) upgraded to Outperform from Market Perform at Northland... Lincoln National (LNC) upgraded to Overweight from Neutral at Piper Jaffray... McDonald's (MCD) upgraded to Outperform from Neutral at Credit Suisse... Micron (MU) upgraded to Outperform from Market Perform at Wells Fargo... Nautilus (NLS) upgraded to Buy from Neutral at B. Riley... Nevsun Resources (NSU) upgraded to Outperform from Sector Perform at Scotia... Nexstar (NXST) upgraded to Buy from Hold at Jefferies... Omega Protein (OME) upgraded to Buy from Neutral at DA Davidson... Raytheon (RTN) upgraded to Buy from Neutral at UBS... Republic Airways (RJET) upgraded to Buy from Hold at Deutsche Bank... Swiss Re (SSREY) upgraded to Neutral from Underweight at JPMorgan... Thor Industries (THO) upgraded on positive trends, checks at BMO Capital... Verint (VRNT) upgraded to Outperform from Market Perform at William Blair.
|09:27 EDT||MCD||On The Fly: Pre-market Movers|
HIGHER: Yahoo (YHOO), up 4.5% after the company's board authorized the company to continue to pursue its spin-off of Aabaco Holdings, a newly formed independent registered investment company that will hold all of Yahoo's remaining holdings in Alibaba Group (BABA)... Phoenix Companies (PNX), up 164% after Nassau Reinsurance agreed to acquire Phoenix for $37.50 per share in cash... McDonald's (MCD), up 1.4% after the stock was upgraded to Outperform at Credit Suisse... Johnson & Johnson (JNJ), up 1% following upgrade at Deutsche Bank. LOWER: Esperion (ESPR), down 29% after reporting that the FDA has encouraged the company to initiate a cardiovascular outcomes trial promptly since any concern regarding the benefit/risk assessment of ETC-1002 could necessitate a completed cardiovascular outcomes trial before approval... Solera (SLH), down 2% after IHS (IHS) said on its earnings call that it is not pursuing an acquisition of the company, as previouly indicated in media reports... Zosano (ZSAN), down 54% after the company announced that it would discontinue its ZP-PTH agreement with Eli Lilly (LLY).
|06:37 EDT||MCD||McDonald's upgraded to Outperform from Neutral at Credit Suisse|
Credit Suisse upgraded McDonald's to Outperform and raised its price target to $112 from $110. Analyst Jason West said checks indicate U.S. same-store-sales trends are beginning to turn driven by operational and menu changes, and some new product wins. West sees 5-6% potential upside to current 2016 forecasts and sees favorable risk/reward of 2-3% downside versus 20% upside, even if the turnaround is fairly modest.