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Stock Market & Financial Investment News

News Breaks
April 1, 2014
11:59 EDTISRG, SYK, NVDQIntuitive Surgical climbs after new surgical system debuts
Shares of surgical instrument and accessory maker Intuitive Surgical (ISRG) are climbing after the company announced the FDA cleared the U.S introduction of its new da Vinci Xi Surgical System. WHAT'S NEW: Intuitive Surgical introduced the da Vinci Xi Surgical System, which it says has broader capabilities than prior generations of its prior generation da Vinci System. Intuitive said it designed the new da Vinci Xi System with the goal of further advancing the technology used in minimally invasive surgery for complex diseases and conditions in gynecology, urology, thoracic, cardiac, and general surgery. ANALYST OPINON: Research firm Leerink sees today's news as a positive for Intuitive Surgical, but said it is uncertain exactly how many incremental system sales the da Vinci XI Surgical system will fuel and whether the features of Intuitive's new robot will lead to increased utilization into new surgery areas. The firm keeps the stock at a Market Perform rating. JPMorgan responded to the news by raising its price target on Intuitive Surgical to $500 from $475. JPMorgan said it views the new system as a significant positive that has the potential to both drive a replacement cycle and further increase penetration and utilization of the company's products within hospitals. PRICE ACTION: Near midday, shares of Intuitive Surgical were up about $39, or 8.9%, to $477. OTHERS TO WATCH: Novadaq (NVDQ), which sells consoles for Intuitive Surgical's robotic systems, rose 2.2% to $22.77. Shares of Stryker (SYK), which previously acquired robotic surgery systems maker MAKO Surgical, were little changed near noon.
News For ISRG;NVDQ;SYK From The Last 14 Days
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December 19, 2014
13:34 EDTSYKStryker shares look inexpensive, should continue to rise, Barron's says
Despite rising more than 30% over the past year, shares of Stryker still have plenty of upside potential, Barron's reports. The company sports industry-leading organic sales, a strong balance sheet, and is trading at a discount to the broader medical device industry, all of which should push shares higher, Barron's adds. Reference Link
December 10, 2014
12:24 EDTNVDQOn The Fly: Midday Wrap
Stocks on Wall Street opened in negative territory and have remained there throughout the morning. The averages have moved in a narrow range as the price of crude continues to fall. Near noon, WTI crude was down another 5% to roughly $60 per barrel. The weakness is effecting equities, as investors are concerned the oil price weakness is indicative of the slowing global economy. ECONOMIC EVENTS: In the U.S., House and Senate lawmakers reportedly reached a deal on a nearly $1.1T bill to fund most of the government through September and avert a shutdown. The EIA estimated crude oil supplies grew 1.5 Mmbbls last week, while consensus expected a 2.7 Mmbbls decrease. The Treasury budget statement for November is expected at 2:00 pm ET, with the consensus expectation for a deficit of $63B. COMPANY NEWS: Shares of JPMorgan (JPM) declined 2% after guidelines proposed yesterday by the Federal Reserve would likely result in the firm managing to a higher capital buffer. Additionally, JPMorgan CFO Marianne Lake, speaking earlier at a Goldman Sachs conference, said the bank sees its Q4 reported markets revenues down by a "high teens" percentage and that its "core" markets performance in Q4, excluding the sale of physical commodities and allocation of preferred dividend expense, is indicated down 4% to-date compared to last year's quarter. Lake became the latest bank executive to discuss a Q4 trading slump, after Bank of America (BAC) CEO Brian Moynihan, speaking yesterday at the same financial conference, said the bank expects its Q4 trading revenue to be down on both a linked-quarter and year-over-year basis. Also yesterday, Citigroup (C) CEO Michael Corbat estimated that the bank's Q4 markets revenue would be down year-over-year by about 5%. MAJOR MOVERS: Among the notable gainers was Analogic (ALOG), which rose 12% after the company reported better than expected quarterly earnings. Also higher was Novadaq (NVDQ), which gained 11.5% after the company signed a multi-year distributor agreement with LifeNet Health that analysts at Canaccord said could potentially be a big deal and materially help its near and long-term prospects. Among the noteworthy losers was Yum! Brands (YUM), which dropped nearly 5% after the owner of the KFC, Pizza Hut and Taco Bell brands issued a negative preannouncement on its China business and provided lower than expected 2015 EPS guidance. Also lower were shares of Krispy Kreme (KKD), which sunk 8% after the donut maker reported weaker than expected earnings and revenue. INDEXES: Near midday, the Dow was down 164.41, or 0.92%, to 17,636.79, the Nasdaq was down 32.79, or 0.69%, to 4,733.68, and the S&P 500 was down 17.43, or 0.85%, to 2,042.39.
08:02 EDTNVDQNovadaq distribution agreement potentially big deal, says Canaccord
Canaccord said Novadaq's distribution deal with LifeNet is potentially a big deal and could materially augment both near and long-term top and bottom-line prospects. The firm is leaving its estimates intact, but sees positive changes to the company's profitability profile. Canaccord reiterated its Buy rating and $18 price target on Novadaq.
08:01 EDTNVDQNovadaq signs multi-year distributor agreement with LifeNet Health
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December 8, 2014
16:38 EDTNVDQNovadaq granted additioinal SPY technology patent protection in U.S.
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12:42 EDTSYKStryker resolves government investigation of OtisMed matter
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