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Stock Market & Financial Investment News

News Breaks
August 12, 2014
09:21 EDTKATE, SUPN, TIPT, FRF, TCAP, HCLP, FLO, CALL, SOL, NOAH, EXAS, DNDN, CNAT, ICPT, ANF, INSYOn The Fly: Pre-market Movers
HIGHER: Intercept (ICPT), up 46% after upgraded at Leerink and Citigroup following OCA data. Conatus Pharmaceuticals (CNAT), which also develops treatments for liver disease, up 8.5%... Fontegra Financial (FRF), up 40% after Tiptree Financial (TIPT) to acquire the company for $10.00 per share in cash... Insys Therapeutics (INSY), up 15.4% after submiting NDA for new formula of Dronabinol Oral Solution, saying it is on track to submit at least four IND applications with the FDA in the second half of 2014... Exact Sciences (EXAS), up 8% after announcing FDA approved for Cologuard... Abercrombie & Fitch (ANF), up 2.7% after upgraded at Stifel. UP AFTER EARNINGS: Kate Spade (KATE), up 5.5%... Noah Holdings (NOAH), up 3%... ReneSola (SOL), up 5%... Supernus (SUPN), up 14%. LOWER: NII Holdings (NIHD), down 54.5% after warning it needs to make "key decisions" to address liquidity, "likely" to file a voluntary petition for relief under Chapter 11 of the Bankruptcy Code... Dendreon (DNDN), down 23.6% after warning that its alternatives could leave shareholders with no ownership... magicJack (CALL), down 10.3%, downgraded at Canaccord following Q2 results... Hi-Crush Partners (HCLP), down 4.7% after filing to sell 3.26M common units representing limited partners... Triangle Capital (TCAP), down 3.8% after filing to sell 4M shares of common stock. DOWN AFTER EARNINGS: Nuance (NUAN), down 9.4%... Flowers Foods (FLO), down 7.8%.
News For KATE;ANF;ICPT;CNAT;DNDN;EXAS;NOAH;SOL;CALL;FLO;HCLP;TCAP;FRF;TIPT;SUPN;INSY From The Last 14 Days
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September 17, 2014
05:31 EDTSOLReneSola expands distribution partnership with SolarMax
ReneSola announced a new partnership initiative with Swiss inverter manufacturer SolarMax to distribute SolarMax solar inverters in Australia. The partnership is an extension of ReneSola's distribution agreement in North America, and Australia will be the second country in the world where ReneSola will sell SolarMax inverters directly to the Company's customers. ReneSola will offer its solar panels along with SolarMax's P-series and MT-series solar inverters and accessories as a premium package to residential and commercial customers. The inverters are fully certified for use in Australia and New Zealand and are accredited by the Clean Energy Council, or CEC.
September 16, 2014
16:29 EDTANFAbercrombie & Fitch assumed with an Overweight at Piper Jaffray
Price target lowered to $45 from $48.
06:11 EDTTCAPTriangle Capital closes investment in in The Cook & Boardman Group
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September 15, 2014
12:58 EDTINSYInsys retreats after receiving second subpoena from U.S.
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08:23 EDTINSYInsys subpoena should not overshadow bigger picture, says Wells Fargo
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07:41 EDTINSYInsys new subpoena an extension of previous probe, says Oppenheimer
After Insys received a subpoena from the Department of Justice after previously receiving a subpoena from an Inspector General's office, the firm thinks the second subpoena is related to the same investigation as the first one. Oppenheimer views the second subpoena as a headline risk but does not expect it to impact the company's business. It keeps a $40 price target and Outperform rating on the shares.
September 12, 2014
18:03 EDTINSYInsys Therapeutics receives subpoena over Subsys sales, marketing practices
On September 8, Insys Therapeutics, Inc. received a subpoena issued pursuant to the Health Insurance Portability and Accountability Act of 1996, as amended, from the U.S. Attorney’s Office for the District of Massachusetts. The subpoena requests documents regarding Subsys, including Insys’ sales and marketing practices related to this product. Insys intends to cooperate with the investigation.
September 11, 2014
10:00 EDTTCAPOn The Fly: Analyst Upgrade Summary
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07:47 EDTTCAPTriangle Capital upgraded to Outperform at Wells Fargo
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07:03 EDTTCAPTriangle Capital upgraded to Outperform from Market Perform at Wells Fargo
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05:40 EDTSOLReneSola to supply 10 MW DCR solar modules to project in India
ReneSola announced it will provide 10 MW of solar modules to Juwi India Renewable Energies, a Bangalore-based engineering, procurement and construction, or EPC, firm specializing in solar and wind energy plants. The modules will power a utility-scale project in Rajasthan to be developed by Atha Group, an India-based conglomerate with operations in mining, steel manufacturing, power, and renewable energy. Under the terms of the agreement, in September and November of this year, ReneSola will deliver a total of 10 MW of its Virtus modules manufactured at the company's India-based OEM facilities, in accordance with India's applicable domestic content requirements, or DCR, which call for certain solar projects in the country to incorporate locally manufactured components.
September 10, 2014
10:25 EDTINSYInsys Therapeutics management to meet with JMP Securities
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September 9, 2014
19:00 EDTSUPNOrchard Hill lowers stake in Supernus to 7% from 7.5%, says shares worth $13-$14
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08:59 EDTCNATConatus should be bought ahead of data, says JMP Securities
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September 8, 2014
16:04 EDTTCAPTriangle Capital invests $11M in Tate's Bake Shop
Triangle Capital announced that it closed an $11.0M investment in Tate's Bake Shop, a premium, consumer branded producer of gourmet cookies and other baked goods, consisting of subordinated debt and equity.
September 5, 2014
12:19 EDTANFGap falls after reporting August same-store sales decline
Shares of apparel retailer Gap (GPS) are falling after the company reported disappointing August same-store sales results and Buckingham analysts downgraded the company's stock. WHAT'S NEW: Gap reported last night that its August comparable sales declined 2%, compared to a 2% increase a year ago in the same month. Gap Global SSS fell 9%, Banana Republic Global SSS fell 2% and Old Navy Global SSS rose 2%. Gap also reported its August net sales were flat compared to last year's $1.23B. WHAT'S NOTABLE: Looking ahead, the company said Gap's August sales performance will likely put pressure on the brand's gross margins in September. ANALYST REACTION: Gap was downgraded to Neutral from Buy at Buckingham this morning following the August comparable sales numbers. Buckingham analysts say they question the previously anticipated 2H14 comp recovery at the core brand and do not see upside to the stock if the flagship brand does not turn positive in the second half. Buckingham expects the stock's multiple to contract back to its historical average until sales improve. The firm still expects full-year 2014 guidance to be achievable as Gap manages expenses and it continues to like operational improvements the company is making in its supply chain and omni-channel initiatives. Until sales improve, Buckingham expects shares to remain range bound near $44 to $46. UBS analysts, on the other hand, say Gap's share weakness presents a buying opportunity. The firm said the miss does not derail the company's ability to show improvement over the second half and does not impact their long-term thesis tied to margin improvement opportunities. PRICE ACTION: Near noon, Gap fell $2.20, or about 5%, to $44.39. OTHERS TO WATCH: Competitors to Gap include American Apparel (APP), American Eagle (AEO), Urban Outfitters (URBN), Express (EXPR), and Abercrombie and Fitch (ANF).
10:05 EDTICPTOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Actavis (ACT) initiated with a Buy at ISI Group... Akamai (AKAM) initiated with a Buy at UBS... Alexion (ALXN) initiated with a Buy at SunTrust... Allegion (ALLE) initiated with a Buy at Buckingham... Allergan (AGN) initiated with a Buy at ISI Group... Aviat Networks (AVNW) initiated with a Neutral at H.C. Wainwright... Celgene (CELG) initiated with a Buy at SunTrust... EZCORP (EZPW) initiated with a Hold at Jefferies... Eaton (ETN) initiated with a Neutral at Buckingham... Emerson (EMR) initiated with a Neutral at Buckingham... HMS Holdings (HMSY) initiated with an Overweight at Stephens... Incyte (INCY) initiated with a Buy at SunTrust... Ingersoll-Rand (IR) initiated with a Neutral at Buckingham... Insmed (INSM) initiated with an Outperform at Cowen... Intercept (ICPT) initiated with an Outperform at Cowen... Johnson & Johnson (JNJ) initiated with an Outperform at BMO Capital... Lennox (LII) initiated with a Neutral at Buckingham... Mylan (MYL) initiated with a Hold at ISI Group... Orion Engineered Carbons (OEC) initiated with a Buy at Goldman... Parker-Hannifin (PH) initiated with a Buy at Buckingham... Pentair (PNR) initiated with a Neutral at Buckingham... Pharmacyclics (PCYC) initiated with a Neutral at SunTrust... Rockwell Automation (ROK) initiated with a Neutral at Buckingham... Sabre (SABR) initiated with an Outperform at Oppenheimer... Santander Consumer (SC) initiated with a Buy at Jefferies... Springleaf (LEAF) initiated with a Buy at Jefferies... Susser Petroleum (SUSP) initiated with a Neutral at Credit Suisse... Teva (TEVA) initiated with a Buy at ISI Group... Valeant (VRX) initiated with a Buy at ISI Group... WESCO (WCC) initiated with a Neutral at Buckingham... Watsco (WSO) initiated with a Neutral at Buckingham... Weyerhaeuser (WY) initiated with a Neutral at JPMorgan... World Acceptance (WRLD) initiated with a Hold at Jefferies.
06:30 EDTICPTIntercept initiated with an Outperform at Cowen
Target $420.
September 4, 2014
10:59 EDTANFOptions with decreasing implied volatility
Options with decreasing implied volatility: BIG GES CONN PAY ANF CIEN SPLK OVTI WDAY NAV
10:26 EDTHCLPHi-Crush Partners management to meet with William Blair
Group luncheon to be held in New York on September 9 at 12:30 pm hosted by William Blair.
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