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Stock Market & Financial Investment News

News Breaks
March 4, 2014
09:12 EDTINSY, SUNE, SUTR, VIPS, MDR, RSH, SSNLF, OXBT, SNTA, JCPOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Vipshop (VIPS), up 23%... Insys Therapeutics (INSY), up 21%. ALSO HIGHER: J.C. Penney (JCP), up 8% after S&P raised its outlook to stable from negative and affirmed its 'CCC+' corporate credit rating for the company.... Sutor Technology (SUTR), up 23% after subsidiary enters into supply contract with Samsung (SSNLF)... Oxygen Biotherapeutics (OXBT), up 31% after FDA lifts clinical hold on Oxycyte... SunEdison (SUNE), up 7.7% following upgrade at Morgan Stanley. DOWN AFTER EARNINGS: RadioShack (RSH), down 23.5%. ALSO LOWER: Synta Pharmaceuticals (SNTA), down 5.9% after CEO resigns... McDermott (MDR), down 8% after its fourth quarter earnings sharply missed estimates and the company withdrew prior guidance and suspended future guidance "for the foreseeable future."
News For JCP;RSH;SUTR;SNTA;MDR;SUNE;OXBT;VIPS;INSY;SSNLF From The Last 14 Days
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August 18, 2015
11:03 EDTSUNESunEdison raises capital while Trina Solar tops expectations
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10:13 EDTSUNE, JCPOptions with decreasing implied volatility
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08:16 EDTINSYInsys Therapeutics files citizen petition with DEA to reschedule synthetic CBD
Insys Therapeutics announced it has filed a Citizen Petition with the DEA to request the agency reschedule its synthetic pharmaceutical cannabidiol, or CBD, from Schedule I to Schedule IV. The company believes that the current classification of synthetic CBD as a Schedule I compound is a significant barrier to the progress of research studies that explore the value of this compound in the treatment of several serious medical conditions.
07:47 EDTSUNESunEdison capital raise a net positive, says Credit Suisse
Credit Suisse said SunEdison's new $1B warehouse facility and proposed $500M perpetual convertible preferred offering is a net positive. The firm said the warehouse provides additional capacity to build and hold assets prior to the drop-down to the YieldCos and the preferred stock raise will fund greater than $5B in operating-asset warehouse facilities that require 5-10% in equity. Credit Suisse said the raises also increases visibility into future growth and should reduce uncertainty on where SunEdison will obtain capital needed for $7B of assets expected to be formed in 2016. The firm has an Outperform rating and $35 price target on SunEdison shares.
05:55 EDTSSNLFDRAMeXchange: Global mobile DRAM revenue up 7.7% in Q2, DigiTimes reports
Global sales of mobile DRAM increased 7.7% sequentially to $3.85B while global sales of overall DRAM decreased 4.8% to $11.4B in Q2, reports DigiTimes, citing DRAMeXchange. Mobile DRAM prices were less affected by falling prices for PC DRAM chips when compared to other types of DRAM. Prices for PC DRAM chips, which fell 15% in July, are forecast to drop an overall 30% in the third quarter of 2015. Reference Link
August 17, 2015
19:00 EDTSUNEOn The Fly: After Hours Movers
UP AFTER EARNINGS: Fabrinet (FN), up 5.1%. ALSO HIGHER: Esperion Therapeutics (ESPR), up 10.6% after announcing that it is on track to initiate ETC-1002 Phase 3 program by the end of 2015... Seattle Genetics (SGEN), up 3.3% after announcing FDA approval of Adcetris for HL treatment. DOWN AFTER EARNINGS: MasTec (MTZ), down 7.4%... Urban Outfitters (URBN), down 2.3%. ALSO LOWER: Sunedison (SUNE), down 1% after announcing a $500M perpetual convertible preferred stock offering.
17:36 EDTSUNESunEdison announces $500M perpetual convertible preferred stock offering
SunEdison announced that it intends to file a prospectus supplement to a registration statement filed on Form S-3 with the SEC relating to a proposed underwritten public offering of shares of perpetual convertible preferred stock. The company will be offering 500,000 shares of its perpetual convertible preferred stock. The company intends to use the net proceeds from this offering for general corporate purposes, including funding working capital and growth initiatives.
16:19 EDTSUNESunEdison up 7% to $15.70 after forming asset facility with Goldman Sachs
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16:15 EDTSUNESunEdison, Goldman Sachs fund form $1B construction, operating asset facility
SunEdison (SUNE) and West Street Infrastructure Partners III and affiliates, announced the formation of a new $1B warehouse investment vehicle, the WSIP Warehouse, to fund construction costs and to acquire operating assets. TerraForm Power (TERP) will have an exclusive call right over the warehoused assets. The WSIP Warehouse is a $1B investment vehicle with $300M equity committed, subject to certain conditions, by WSIP, the infrastructure fund managed by Goldman Sachs (GS). The debt structuring will be led by Morgan Stanley, Bank of America and Deutsche Bank and will provide commitments for $700M of debt in the form of a $500M, five-year term loan and a $200M, four-year revolving credit facility. SunEdison has the option to expand the facility by up to $1B to a total of $2B, subject to certain conditions. The decision to add additional warehouse capacity was completed following an analysis by SunEdison of its financing requirements through 2016 and after exploring alternative debt and equity transactions. SunEdison continues to explore financing alternatives, including upsizing its existing warehouse facilities and adding new warehouse facilities. Completion of the formation of the WSIP Warehouse and the financial close of the related debt facilities are subject to customary conditions and are expected to occur by Oct. 31, 2015.
16:12 EDTSUNESunEdison, Goldman Sachs fund form $1B construction, operating asset facility
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12:24 EDTINSYInsys dronabinol oral solution NDA accepted for filing by FDA
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12:23 EDTJCPStocks with call strike movement; Netflix J.C. Penney
Netflix (NFLX) January 150 call option implied volatility increased 2% to 48, J.C. Penney (JCP) January 10 call option implied volatility increased 1% to 40 according to IVolatility.
10:24 EDTJCPAnalyst notes give J.C. Penney shares a boost
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10:21 EDTJCP, VIPSOptions with decreasing implied volatility
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10:09 EDTJCPOn The Fly: Analyst Initiation Summary
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09:26 EDTJCPOn The Fly: Pre-market Movers
HIGHER: AVEO (AVEO), up 119.7% after announcing licensing agreement with Novartis (NVS)... OHR Pharmaceutical (OHRP), up 24.9% after Soros reports new stake in company in 13F filing... Kite Pharma (KITE), up 4.6% after saying patient death unrelated to KTE-C19... Tesla (TSLA), up 5.5% after price target raised to $465 from $280 at Morgan Stanley... Mobileye (MBLY), up 2.7% after price target raised to $80 from $71 at Morgan Stanley... J.C. Penney (JCP), up 1.5% after being initiated with a Buy at B. Riley and Piper Jaffray raised its price target to $17 from $15. DOWN AFTER EARNINGS: Estee Lauder (EL), down 2.1% after reporting quarterly results and giving guidance for first quarter and fiscal 2016. ALSO LOWER: KKR (KKR), down 3.3% after Samson enters restructuring deal and expects to file for bankruptcy within 30 days... Aquinox (AQXP), down 4.7% after Lloyd Mackenzie, vice president - Technical Operations and Planning, disclosed late Friday the sale of 35,887 shares worth over $670,000 in a sale related to the exercise of options.
07:17 EDTJCPJ.C. Penney initiated with a Buy at B. Riley
B. Riley initiated J.C. Penney with a Buy rating and $12.50 price target. The firm sees positive business trends, despite industry headwinds, and numerous opportunities for margin recovery.
06:51 EDTJCPJ.C. Penney price target raised to $17 from $15 at Piper Jaffray
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06:38 EDTSSNLFApple Watch revenue leader in wearable category, Business Insider reports
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05:44 EDTJCPJ.C. Penney initiated with a Buy at B. Riley
B. Riley analyst Jeff Van Sinderen started shares of J.C. Penney with a Buy rating and $12.50 price target. The retailer closed Friday at $8.52. Sinderen views Penny as a "speculative turnaround" story and believes the company's "substantial" real estate assets partially offset its heavy debt load.
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