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August 12, 2014
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%.
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July 30, 2015
06:51 EDTNOAHNoah Holdings announces strategic cooperation with Union Bancaire
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July 28, 2015
19:40 EDTANFJudge rules lawsuit against Abercrombie & Fitch as 'class action', BI says
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10:23 EDTKATEBMO Capital says high-end handbag makers to stay weak
High end handbag makers Coach (COH), Kate Spade (KATE) and Michael Kors (KORS) are continuing to struggle and their share prices are likely to remain weak, research firm BMO Capital wrote in a note to investors today. The firm significantly cut its price targets on all three names. WHAT'S NEW: Consumers are spending less on high-end handbags as they increase the amount they allocate to other areas, including travel, leisure and apparel, BMO Capital analyst John Morris stated. Consequently, the North American handbag market was expanding at a 5% rate at the end of June, down from a high single digit rate earlier this year, according to Morris. Meanwhile, competition within the space is mounting and handbag price wars are continuing, the analyst stated. Although handbag stocks have dropped significantly and their valuations appear attractive, they are "falling knives," the analyst warned. Assessing the status of specific companies, Morris says that Kate Spade has avoided implementing major price cuts on its products, though its comparative sales and "mind share" have suffered as a result of that decision and stores are displaying its products less prominently. Coach's stock suggests that investors expect the company's fundamentals to rebound, but Morris thinks that their optimism may be premature. The pace of the company's improvement "remains challenging," and it is likely to be hurt by a decline of U.S. tourism, he believes. Also likely to be hurt by declines in tourism is Michael Kors, the analyst stated. The prices of Michael Kors' products are being reduced by retailers, its gross margins are sinking and its watch business is weak, Morris warned. He reduced his price target on Kate Spade to $19 from $30, on Coach to $28 from $37 and on Michael Kors to $40 from $51. The analyst kept Market Perform ratings on all three stocks. PRICE ACTION: In early trading, Kate Spade was little changed at $18.75, Coach fell 0.5% to $30.60 and Michael Kors was fractionally higher at $39.17.
09:04 EDTKATEHandbag makers estimates, price targets lowered at BMO Capital
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July 27, 2015
19:31 EDTANFAbercrombie & Fitch to debut 'athleisure' clothing line, Racked says
Abercrombie & Fitch plans to debut a women's "athleisure" or activewear clothing line on July 29, reports Racked, citing company statements. Reference Link
05:32 EDTSOLReneSola signs 30MW solar module sales agreement
ReneSola announced it has agreed to provide Cofely Solar Technics with 30 megawatts of solar modules, which will be used in a ground-mounted, utility-scale project in Nottinghamshire in the UK. Under the terms of the agreement, ReneSola's contracted OEMs will deliver 30MW of the Company's high-efficiency 260w Virtus II solar modules produced in Poland for the project between July and September of this year.
July 24, 2015
16:47 EDTINSYInsys Therapeutics treatment of infantile spasms receives FDA orphan designation
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July 23, 2015
10:00 EDTEXASOn The Fly: Analyst Upgrade Summary
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08:56 EDTEXASExact Sciences upgraded to Buy from Hold at Lake Street
Lake Street Capital Markets analyst Bruce Jackson upgraded Exact Sciences to Buy and raised his price target for shares to $30 from $27. The company's Q2 report showed better than expected gross margins and the stock's risk/reward is appealing, Jackson tells investors.
07:43 EDTANFStephens to hold a tour
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July 22, 2015
09:09 EDTHCLPHi-Crush Partners weakness could be excellent buying opportunity, says Cowen
Cowen noted Hi Crush Partners cut its Q2 cash distribution guidance, implying a $10 yield for the remainder of 2015. The firm feels any industry stabilization and recovery could make the stock's current valuation an excellent buying opportunity. Cowen maintained its Outperform rating and $36 price target on Hi-Crush shares.
09:09 EDTHCLPHi-Crush Partners sees capital expenditures of $10M-$15M in rest of 2015
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09:07 EDTHCLPHi-Crush Partners cuts distribution to 47.5c from 67.5c per unit
Hi-Crush Partners announced last night that the board of its general partner has declared a cash distribution of 47.5c per unit on all common and subordinated units. Hi-Crush paid distributions of $2.40 per unit on all common and subordinated units for 2014 and $0.675 per unit for the first quarter 2015. The distribution will be paid on August 14 to all common and subordinated unit holders of record on August 5. "Market conditions resulting from reduced industry sand demand and pricing worsened this quarter with further price reductions and even lower demand. Our management team, along with the Board of Directors, determined that a reduction to the quarterly cash distribution was prudent as we do not expect a rebound in sand demand or pricing until 2016. We are expecting the remainder of 2015 to be challenging with continued uncertainty in the level of well completion activity, which is a key driver of sand demand. We expect to maintain the distribution at this level for the remainder of 2015," said Laura Fulton, CFO.
July 21, 2015
10:31 EDTINSYOptions with increasing implied volatility
Options with increasing implied volatility: DUST JNUG LINE CHK CNX INSY ABX GG GDX NEM
09:21 EDTEXASOn The Fly: Pre-market Movers
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09:13 EDTEXASExact Sciences 7M share Spot Secondary priced at $25.50
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July 20, 2015
19:02 EDTEXASOn The Fly: After Hours Movers
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16:12 EDTEXASExact Sciences files to sell 7M shares of common stock
The Company intends to use the net proceeds of this offering to fund expansion of Cologuard commercialization activities, to fund product development efforts, and for general corporate and working capital purposes. Jefferies LLC and Robert W. Baird & Co. Incorporated are acting as the underwriters for the offering.
09:22 EDTEXASOn The Fly: Pre-market Movers
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05:32 EDTEXASExact Sciences reports Q2 EPS (44c), consensus (45c)
Reports Q2 revenue $8.1M, consensus $7.96M.
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