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Stock Market & Financial Investment News

News Breaks
July 29, 2014
11:46 EDTDECK, INFN, PBYI, CRUS, QLIK, MLNX, INO, SKX, TTS, ANGIOptions with decreasing implied volatility
Options with decreasing implied volatility: INO PBYI ANGI MLNX INFN TTS QLIK DECK SKX CRUS
News For INO;PBYI;ANGI;MLNX;INFN;TTS;QLIK;DECK;SKX;CRUS From The Last 14 Days
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February 2, 2016
10:01 EDTMLNXOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: BlackBerry (BBRY) initiated with a Buy at TD Securities... British American Tobacco (BTI) initiated with a Buy at Berenberg... Cabot Oil & Gas (COG) initiated with a Buy at SunTrust... Celestica (CLS) initiated with a Hold at TD Securities... Devon Energy (DVN) initiated with an Equal Weight at Stephens... Fitbit (FIT) initiated with an Outperform at Oppenheimer... Imperial Tobacco (ITYBY) initiated with a Buy at Berenberg... Kite Pharma (KITE) initiated with an Outperform at RBC Capital... Mellanox (MLNX) initiated with a Buy at Roth Capital.
07:51 EDTMLNXMellanox initiated with a Buy at Roth Capital
Roth Capital analyst Brian Alger initiated Mellanox with a Buy rating and $60 price target. The analyst said Mellanox has a full suite of end to end products serving networking across Ethernet and Infiniband and is well positioned to outpace peers.
February 1, 2016
13:42 EDTINOWHO declares Zika virus to be global emergency, Reuters reports
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12:27 EDTINFNOptions with increasing put volume
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05:57 EDTINOInovio volatility elevated, developing vaccine for Zika virus infection
Inovio February call option implied volatility is at 108, March is at 100; compared to its 52-week range of 49 to 115, suggesting large price movement as the company develops a DNA-based vaccine for preventing and treating the Zika virus infection.
January 29, 2016
13:19 EDTINOOptions with increasing call volume: EXP FLIR SYN INO PBR VMEM EPI GILD EA
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10:03 EDTINOHigh option volume stocks: GIMO CSOD NAVI ALGN IMPV LC INO FMC VMW RCII
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09:21 EDTINOOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Gigamon (GIMO), up 17.7%... Fortinet (FTNT), up 10%... Flextronics (FLEX), up 10%... Skyworks (SWKS), up 5.7%... Seagate Technology (STX), up 4.9%.. Microsoft (MSFT), up 4.6%. ALSO HIGHER: Inovio Pharmaceuticals (INO), up 8.1% after CEO says Zika vaccine could enter human testing this year... J.C. Penney (JCP), up 2.1% after being upgraded to Neutral from Underperform at Credit Suisse... BRF S.A. (BRFS), up 3.1% after being upgraded to Buy from Hold at Deutsche Bank... Axiall (AXLL), up 83.4% after rejecting $20 per share acquisition proposal from Westlake Chemical (WLK)... Energous (WATT), up 12% after Bloomberg reported that Apple (AAPL) is working with partners in the U.S. and Asia to develop new wireless charging technology. DOWN AFTER EARNINGS: Amazon.com (AMZN), down 10.1%... Electronic Arts (EA), down 6.2%... AbbVie (ABBV), down 4%... American Airlines (AAL), down 1.3%. ALSO LOWER: Gilead Sciences (GILD), down 5.5% after CEO John Martin to assume role of executive chairman and COO John Milligan will be promoted to CEO.
08:52 EDTINOInovio rises as CEO says Zika vaccine could enter human testing this year
Inovio Pharmaceuticals (INO) shares are rising again this morning as the Zika virus continues to gain attention and its CEO says the company is "ahead of the pack" in developing a vaccine to combat the disease. YEAR END TESTING POSSIBLE: Joseph Kim, CEO of Inovio, said making a vaccine available by the end of this year is aggressive, but possible, according to Reuters, which quoted Kim as saying, "I believe this will be the first to go into human testing. We believe we're ahead of the pack in the race for a Zika vaccine." WHAT'S NOTABLE: The head of the World Health Organization, Dr. Margaret Chan, said the Zika virus, which has been linked to neurological ailments, especially in fetuses and newborns, is "now spreading explosively" in the Americas. WHO now predicts that Zika could infect as many as 4M people in the Americas. ANOTHER TO WATCH: Cerus (CERS) is also at work on combating Zika. A study, partially funded by Cerus, showed that amotosalen combined with UVA light inactivates Zika virus in fresh-frozen plasma, according to an earlier report. PRICE ACTION: Inovio shares, which gained over 7.5% yesterday, are up another 9% to $6.30 in pre-market trading.
07:38 EDTDECKDeckers Outdoor is a top recovery pick, says Canaccord
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January 28, 2016
16:40 EDTINOOn The Fly: Top stock stories for Thursday
The Dow began the session with triple digit gains thanks in part to solid earnings reports from some of America's bellwether corporations and oil prices, which approached $34 a barrel. The market was unable to hold its opening gains and eventually crossed into negative territory. Before the losses became too big the averages reversed and moved back across the flat line. With oil holding onto its gains and closing above $33 a barrel, the averages closed in positive territory ahead of the next barrage of earnings reports. ECONOMIC EVENTS: In the U.S., initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The National Association of Realtors' pending home sales index for December rose 0.1%, versus expectations for it to be up 0.9%. COMPANY NEWS: Shares of Facebook (FB) surged 15.5% to $109.11 after the social media giant's fourth quarter earnings and revenue beat expectations. A number of Wall Street analysts increased their price targets for the stock following the report, including Piper Jaffray's Gene Munster, who hiked his target to a "Street-high" $170 per share. Facebook management made only one mention of macro concerns for the business in 2016, significantly different than Apple's (AAPL) earnings call on Tuesday night, Munster pointed out... Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded 4.7% to $61.08 after the company jumped over the lowered bar that had been set by bearish analysts... Under Armour (UA), which had similarly been the focus of concern recently for some bearish analysts, posted better than expected results on the top and bottom line and backed its fiscal year revenue forecast, proving its doubters wrong and sending its share rocketing up 22.5% to $84.00. MAJOR MOVERS: Among the notable gainers were Intrexon (XON), Inovio (INO) and Cerus (CERS), which gained a respective 10%, 7.6% and 1.4% as the ongoing Zika virus scare brought attention to the companies' efforts fighting the illness. Also higher were SolarCity (SCTY), Sunrun (RUN) and Vivint Solar (VSLR), with the solar stocks jumping 8.5%, 20.5% and 3.6%, respectively, after the California Public Utilities Commission approved new net-metering rules. Meanwhile, Eagle Pharmaceuticals (EGRX) rose 12.2% to $74.44 after announcing commercial availability of its Bendeka injection in partnership with Teva (TEVA). Among the noteworthy losers was Yahoo (YHOO), which lost 3.2% to $28.75 despite a pre-market spike after SpringOwl Asset Management urged the company to seek an investment from a strategic partner. The news was also followed by reports that CEO Marissa Mayer has started restructuring efforts with an "invest/maintain/kill" list, as well as news that Verizon (VZ) denied a report that it had bid for the company's core Internet business. Also lower were OSI Systems (OSIS), Qualcomm (QCOM) and eBay (EBAY), which fell a respective 31.8%, 8.3% and 12.5% following their quarterly earnings reports. INDEXES: The Dow rose 125.18, or 0.79%, to 16,069.64, the Nasdaq gained 38.51, or 0.86%, to 4,506.68, and the S&P 500 advanced 10.41, or 0.55%, to 1,893.36.
12:49 EDTINOCerus spikes as journal discusses treatment of Zika virus
Shares of Cerus (CERS) are rallying after a Transfusion journal article posted on Read Cube made its way through the investment community. The article describes a study, partially funded by Cerus, which showed that amotosalen combined with UVA light inactivates Zika virus in fresh-frozen plasma. Shares of Inovio (INO) are also higher today as news agencies report on more Zika virus cases. Cerus is up 36c to $5.55 in afternoon trading. Reference Link
10:34 EDTCRUSApple supplier Cirrus jumps after results beat expectations
The shares of Cirrus Logic (CRUS) are surging after the company reported stronger than expected third quarter results last night. Research firm Oppenheimer responded to the news by upgrading the stock to Outperform from Market Perform. Cirrus, which develops integrated circuits, is said to get about 75% of its revenue from Apple (AAPL). WHAT'S NEW: Cirrus reported Q3 EPS of 82c, versus analysts' consensus outlook of 81c. The company's revenue also came in slightly above expectations. However, it provided Q4 revenue guidance of $225M at the midpoint of their range of $210M-$240M, versus the consensus outlook of about $260M. However, Cirrus said that it continues to expect its revenue to increase more than 15% in its upcoming fiscal year. "Short-term weakness for certain audio products" caused Cirrus' Q3 results and Q4 outlook to be weaker than the company originally expected, the company stated. iPhones, whose sales came in below analysts' consensus forecast last quarter, utilize audio products from Cirrus. Cirrus CEO Jason Rhode said he remains upbeat about the company's prospects, stating, "We are confident that our strategy of focusing on innovative market leading customers in the fastest growing audio and voice segments will fuel future growth." Rhode added that Cirrus expects to sell more products to its existing customers going forward. ANALYST REACTION: Oppenheimer analyst Rick Schafer upgraded Cirrus to Outperform from Market Perform in a note to investors today. Apple will utilize a smart codec from Cirrus to reduce noise in the earbuds of the upcoming iPhone 7 device, Schafer predicted. As a result, Cirrus will obtain an average of about $5.50 for each iPhone 7 sold, up from about $3.50 for the iPhone 6 and iPhone 6+, the analyst estimated. Meanwhile, Cirrus is selling more of its smart codecs and audio amps to Android smartphone makers, accrding to Schafer. He raised its 2017 EPS estimate for the company to $3.30 from $2.74, and he thinks the company's results could beat expectations through the second half of this year. Schafer set a $40 price target on the shares. PRICE ACTION: In early trading, Cirrus climbed 15.5% to $32.29.
10:13 EDTCRUSOptions with decreasing implied volatility
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10:05 EDTANGIOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AMAG Pharmaceuticals (AMAG) initiated with an Outperform at Northland... Angie's List (ANGI) initiated with a Neutral at Roth Capital... Bio Blast Pharma (ORPN) initiated with a Buy at Rodman & Renshaw... British American Tobacco (BTI) initiated with a Buy at UBS... Imperial Tobacco (ITYBY) initiated with a Buy at UBS... Instructure (INST) initiated with an Outperform at Barrington... Nektar (NKTR) initiated with a Buy at Janney Capital... Par Pacific (PARR) initiated with an Outperform at Imperial Capital... Pure Storage (PSTG) initiated with a Buy at Maxim... comScore (SCOR) initiated with a Hold at Evercore ISI.
10:04 EDTCRUSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Amdocs (DOX) upgraded to Buy from Neutral at BofA/Merrill... Cheesecake Factory (CAKE) upgraded to Overweight from Equal Weight at Stephens... Chemical Financial (CHFC) upgraded to Buy from Hold at Sandler O'Neill... Cimarex Energy (XEC) upgraded to Buy from Hold at Wunderlich... Cirrus Logic (CRUS) upgraded to Outperform from Perform at Oppenheimer... Citrix (CTXS) upgraded on Q4 results, valuation at JMP Securities... Comerica (CMA) upgraded to Market Perform from Underperform at BMO Capital... Community Health (CYH) upgraded to Market Perform from Underperform at Raymond James... Denny's (DENN) upgraded to Overweight from Equal Weight at Stephens... Dolby (DLB) upgraded to Buy from Neutral at Dougherty... EMC (EMC) upgraded to Buy from Neutral at Mizuho... Halliburton (HAL) upgraded to Buy from Accumulate at KLR Group... Hanmi Financial (HAFC) upgraded to Strong Buy from Outperform at Raymond James... Hawaiian Holdings (HA) upgraded to Neutral at BofA/Merrill... Hologic (HOLX) upgraded to Buy from Hold at Needham... Kinder Morgan (KMI) upgraded at Stifel... MGM China (MCHVF) upgraded to Overweight from Neutral at JPMorgan... Nimble Storage (NMBL) upgraded to Buy from Hold at Maxim... Patterson Companies (PDCO) upgraded to Buy from Neutral at UBS... PayPal (PYPL) upgraded to Outperform on core market share gains at Wedbush... Prosperity Bancshares (PB) upgraded to Buy from Neutral at DA Davidson... RPC, Inc. (RES) upgraded to Overweight from Equal Weight at Morgan Stanley... Rowan Companies (RDC) upgraded to Equal Weight from Underweight at Morgan Stanley... SanDisk (SNDK) upgraded to Buy from Neutral at Mizuho... Stillwater Mining (SWC) upgraded to Outperform from Market Perform at FBR Capital... Vantiv (VNTV) upgraded to Positive from Neutral at Susquehanna... Wilshire Bancorp (WIBC) upgraded to Outperform from Market Perform at Raymond James.
09:19 EDTCRUS, MLNXOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Facebook (FB), up 13.9%... Under Armour (UA), up 14.6%... MicroStrategy (MSTR), up 8.9%... Harley-Davidson (HOG), up 8%... Paypal (PYPL), up 6%... Mellanox (MLNX), up 7.9%... Cirrus Logic (CRUS), up 6.2%... Alibaba (BABA), up 4.5%. ALSO HIGHER: Neos Therapeutics (NEOS), up 61.4% after the FDA approved Adzenys XR-ODT for the treatment of ADHD... Exelixis (EXEL), up 4.7% after the U.S. FDA determined the company's New Drug Application for cabozantinib is sufficiently complete... Kinder Morgan (KMI), up 6.7% after being upgraded at Credit Suisse and Stifel. DOWN AFTER EARNINGS: OSI Systems (OSIS), down 21.3%... ServiceNow (NOW), down 22.3%... eBay (EBAY), down 11.5%... InvenSense (INVN), down 10.5%... Juniper Networks (JNPR), down 9.3%... Hologic (HOLX), down 4.4%... Abbott Laboratories (ABT), down 3.6%... Potash (POT), down 2.1%... Qualcomm (QCOM), down 3.6%.
08:20 EDTANGIAngie's List initiated with a Neutral at Roth Capital
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07:16 EDTINOInovio, GeneOne initiate patient recruitment for MERS vaccine trial
Inovio Pharmaceuticals announced the beginning of recruitment for its collaborative vaccine study for MERS. Inovio and GeneOne Life Science Inc. are co-developing Inovio's MERS vaccine in partnership with the Walter Reed Army Institute of Research in Maryland, where the trial is being conducted. The primary and secondary goals of this first-in-man phase I trial are to obtain safety and immunogenicity data. This trial represents the first MERS vaccine to be tested in humans for this disease that has no approved vaccines or treatments.
06:32 EDTCRUSCirrus Logic upgraded to Outperform from Perform at Oppenheimer
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