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July 2, 2014
12:54 EDTVITC, SFLY, CAMP, DAL, STZ, KR, STEM, JPMOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday after ADP's hiring report gave some reassurance that tomorrow's monthly non-farm payroll report report may be a strong one. Despite ADP's employment change report soundly beating the consensus forecast, stock index futures showed little reaction, leading to a quiet open for the broader market. The averages have moved in a narrow range since the open and have done so on light volume. ECONOMIC EVENTS: Payroll provider ADP estimated that U.S. companies added 281,000 workers to their payrolls in June, which was well above the consensus 210,000 forecast. Factory orders fell 0.5% in May, versus the forecast for them to be down 0.4%. COMPANY NEWS: JPMorgan Chase (JPM) chairman and CEO Jamie Dimon announced to employees and shareholders that he has been diagnosed with throat cancer. "The good news is that the prognosis from my doctors is excellent, the cancer was caught quickly, and my condition is curable," Dimon stated, adding that he will be able to continue to be actively involved in the business and will continue to run the company as normal... Shares of beer and wine maker Constellation Brands (STZ) advanced 3% after after its quarterly results beat expectations and the company raised its FY15 earnings view. MAJOR MOVERS: Among the notable gainers was online healthy living products retailer (VITC), which jumped 27% after grocer Kroger (KR) agreed to buy the company for $280M, or $8.00 per share. Also higher was StemCells (STEM), which rose 15% after Brinson Patrick initiated coverage of the stock with an Outperform rating and $7 price target, saying it expects the company to have robust Phase II data over the next 24 months for its neural stem cells in both chronic spinal cord injury and geographic atrophy age-related macular degeneration. Another stock trading higher was Shutterfly (SFLY), which gained 14% after Bloomberg, citing sources, said the company has hired investment bank Qatalyst Partners to help it potentially sell itself. Among the noteworthy losers was CalAmp (CAMP), which fell 11% after reporting quarterly results and second quarter guidance that missed analysts' consensus estimates. Also lower were shares of Delta Air Lines (DAL), which fell 5% after reporting its passenger revenue per available seat mile, or PRASM, rose 4.5% in June and noting that corporate and domestic strength offset lower than expected international yields driven by industry-wide capacity increases and lower business demand to Latin America due to the World Cup. After Delta's report, Cowen suggested using the associated weakness in airline stocks as a buying opportunity. INDEXES: Near midday, the Dow was up 14.66, or 0.09%, to 16,970.73, the Nasdaq was up 4.68, or 0.1%, to 4,463.33, and the S&P 500 was up 0.91, or 0.05%, to 1,974.23.
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November 23, 2015
10:00 EDTSTZOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Abercrombie & Fitch (ANF) upgraded to Peer Perform from Underperform at Wolfe Research... Constellation Brands (STZ) upgraded to Outperform from Market Perform at Cowen... Dick's Sporting (DKS) upgraded to Buy from Hold at Canaccord... Encana (ECA) upgraded to Buy from Hold at Evercore ISI... Genomic Health (GHDX) upgraded to Buy from Neutral at UBS... HP Inc. (HPQ) upgraded to Buy from Hold at Maxim... Heritage Commerce (HTBK) upgraded to Buy from Hold at Sandler O'Neill... James River Group (JRVR) upgraded on improved outlook at BMO Capital... Kellogg (K) upgraded to Outperform from Neutral at Credit Suisse... KeyCorp (KEY) upgraded to Buy from Hold at Jefferies... Och-Ziff Capital (OZM) upgraded to Outperform from Market Perform at Keefe Bruyette... PBF Energy (PBF) upgraded to Buy from Neutral at Goldman... Panera Bread (PNRA) upgraded to Buy from Hold at Maxim... Parkway Properties (PKY) upgraded to Buy from Neutral at Mizuho... PepsiCo (PEP) upgraded to Neutral from Reduce at Nomura... Sanchez Energy (SN) upgraded to Buy from Accumulate at KLR Group... Sonoco (SON) upgraded to Outperform from Neutral at Macquarie... Synchrony (SYF) upgraded to Buy from Neutral at Sterne Agee CRT... Telecom Argentina (TEO) upgraded to Neutral from Sell at Goldman... Teva (TEVA) upgraded to Buy from Neutral at Goldman... TransAlta (TAC) upgraded to Sector Perform from Underperform at RBC Capital... Universal Insurance (UVE) upgraded to Outperform at Keefe Bruyette... Willis Group (WSH) upgraded to Hold from Sell at Deutsche Bank... YPF (YPF) upgraded to Buy from Neutral at Goldman.
09:32 EDTSTZConstellation Brands moves higher, levels to watch
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09:00 EDTJPMChase Visa cardholders can now use Samsung Pay
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06:38 EDTSTZConstellation Brands upgraded to Outperform from Market Perform at Cowen
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November 22, 2015
18:29 EDTDALDelta CEO says Boeing offered used 777s for $10M, Bloomberg reports
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November 19, 2015
09:16 EDTSTEMOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Keurig Green Mountain (GMCR), up 19%... (CTRP), up 11.8%... (CRM), up 5.4%... Perry Ellis (PERY), up 4%. ALSO HIGHER: Celladon (CLDN), up 55.9% after signing a merger agreement with Eiger BioPharmaceuticals... StemCells (STEM), up 45.7% after Phase II Pathway Study data shows motor improvement in SCI patients... UniPixel (UNXL), up 36.1% after receiving an initial mass production order from a Japanese PC manufacturer... Anavex Life Sciences (AVXL), up 16% after announcing preparation of regulatory filings based on guidance from FDA... Plug Power (PLUG), up 3.7% after securing Colruyt Group as its next GenDrive fuel cell customer in Europe. DOWN AFTER EARNINGS: Stage Stores (SSI), down 14.7%... JinkoSolar (JKS), down 7.5%... Best Buy (BBY), down 5.2%... Semtech (SMTC), down 7.5%. ALSO LOWER: AMAG Pharmaceuticals (AMAG), down 8.4% after receiving a complete response letter from the FDA its application seeking approval for a single-dose vial of Makena... Titan International (TWI), down 8.3% after being downgraded to Sell from Neutral at Goldman... Sunedison (SUNE), down 5.5% after Reuters reported that Blackstone (BX) is not interested in SunEdison investment.
November 18, 2015
17:48 EDTDALGrupo Aeromexico confirms Delta intention to increase stake in company
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16:39 EDTDALDelta to acquire up to additional 32% of Grupo Aeromexico outstanding shares
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16:09 EDTSTEMStemCells Phase II Pathway Study data shows motor improvement in SCI patients
StemCells announced that the six-month interim results for the first cohort in its ongoing Phase II Pathway Study in cervical spinal cord injury, or SCI, showed motor improvements in both strength and function. The assessment of motor function involved using tests of dexterity. Patients eligible for the study have complete loss of motor control below the level of injury, the most severe degree of SCI as defined by the American Spinal Injury Association Impairment Scale, or AIS. Clinicians used both ISNCSCI, or International Standards for Neurological Classification of Spinal Cord Injury, and GRASSP, or Graded Assessment of Strength Sensibility and Prehension, measures to establish a pre-transplant baseline for each patient and to assess post-transplant progress. This first cohort of the Pathway Study was designed to assess the safety, and preliminary signs of efficacy, of cell administration into the cervical cord and select the dose level for the 40-patient second cohort, a randomized, controlled and single-blinded arm of the trial, which is already underway. Based on six-month follow-up, for the first cohort, an overall pattern of motor improvement was detected in four of the six patients as measured by gains in both strength and function on the collective ISNCSCI and GRASSP outcomes.
08:55 EDTJPMMorgan Stanley exec sees Q4 not much better than Q3 for banks, DJ reports
Morgan Stanley (MS) Institutional Securities President Colm Kelleher cautioned that fixed-income markets "still seem subdued," according to Dow Jones, citing his comments at an investment conference. Morgan Stanley was among the banks that reported lower revenue from fixed-income, currency and commodities trading during the third quarter and Kelleher said he doesn't think "the fourth quarter is going to be much better," the report noted. Large bank peers to Morgan Stanley include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
November 17, 2015
18:34 EDTJPMU.S. pursuing criminal charges against JPMorgan, RBS executives, WSJ says
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07:50 EDTJPMClearing House to hold a conference
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07:48 EDTJPMBofa/Merrill to hold a conference
Banking & Financial Services Conference 2015 is being held in New York on November 17-18.
November 16, 2015
11:24 EDTJPMClearing House to hold a conference
Clearing House Annual Conference is being held in New York on November 16-18.
09:59 EDTDALOmega bought Valeant in Q3, sold some SuneEdison
Leon Cooperman's Omega Advisors gave a quarterly update on its stakes in a filing this morning, disclosing its positions as of September 30. NEW STAKES: Pfizer (PFE), Valeant (VRX) Walgreens Boots Alliance (WBA), TerraForm Global (GLBL), Cigna (CI). INCREASED STAKES: Google Class A (GOOGL), Facebook (FB), Delta Air Lines (DAL). DECREASED STAKES: SunEdison (SUNE), Shire (SHPG), Citi (C), KAR Auction (KAR), LyondellBasell (LYB). LIQUIDATED STAKES: McKesson (MCK), 21st Century Fox (FOXA), General Motors (GM), QEP Resources (QEP), eBay (EBAY).
09:42 EDTJPMJPMorgan reports October net credit losses 2.22% vs. 2.21% last month
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09:09 EDTSTZConstellation Brands to acquirte Ballast Point Brewing & Spirits for about $1B
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09:08 EDTSTZConstellation Brands to acquirte Ballast Point Brewing & Spirits for about $1B
08:58 EDTJPMAmerican Express slips following Marriott, Starwood deal announcement
Shares of American Express (AXP) are slipping in pre-market trading following the news that Marriott (MAR) and Starwood Hotels & Resorts (HOT) have agreed to merge. In early June, American Express and Starwood announced new benefits to the Starwood Preferred Guest credit card. Marriott, however, has its co-brand program with JPMorgan Chase (JPM) and the early weakness in American Express shares could reflect concern over a potential change in the merged hotels' co-brand relationships. In pre-market trading, AxEx shares are down about 0.5% to $70.88.
05:38 EDTDALDelta Air Lines implied volatility of 33 at lower end of index mean range
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