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Stock Market & Financial Investment News

News Breaks
August 12, 2014
16:32 EDTICPT, TRAK, KORS, DNDN, KATEOn The Fly: Closing Wrap
Stocks on Wall Street began the session in negative territory and remained there for most of the session. The averages moved in a narrow range as the summer doldrums have set in, leaving little in the way of both volume and volatility. ECONOMIC EVENTS: In the U.S., the NFIB's small business confidence index rose 0.7% to 95.7 in July, though that was below the expectation for a 96.0 reading. The Job Openings and Labor Turnover Survey showed job openings rose 94K to 4.671M in June. The Treasury posted a $94.6B budget deficit in July, which was not as steep as the $96.0B deficit that was projected. In Germany, the ZEW Center's economic sentiment index fell to 8.6 in August from 27.1 in July, compared to the consensus forecast for a decrease to 17. COMPANY NEWS: Accessory and clothing retailer Kate Spade (KATE) initially advanced in pre-market trading and was higher early in the session after the company reported second quarter adjusted earnings per share and sales that beat analysts' consensus forecast. However, the stock reversed and moved into negative territory during the company's associated conference call, during which it said it was "responsible to reevaluate the timeframe" to achieve its previously laid out targets for 2016, citing a longer than expected Kate Spade Saturday ramp-up, its revised 2014 margin rate outlook, and the company's limited visibility into 2016. For the day, the stock declined $9.87, or 25.39%, to $29.00. MAJOR MOVERS: Among the notable gainers was Intercept Pharmaceuticals (ICPT), which rose $39.34, or 16.59%, to $276.52 after data from a trial of its liver disease drug OCA showed improved safety as well as a statistical benefit in reversing liver fibrosis. Also higher was DealerTrack (TRAK), which advanced $7.32, or 18.73%, to $46.40 after the company reported higher than expected second quarter earnings and raised its 2014 EPS outlook. Among the noteworthy losers was Dendreon (DNDN), which dropped 72c, or 33.96%, to $1.40 after reporting its Q2 revenue in a regulatory filing and disclosing the company sees a "significant risk" that it will not be able to repay or refinance its 2016 Notes. The company also acknowledged it is currently considering alternatives to the repayment of the 2016 Notes, some of which could result in leaving its current stockholders "with little or no financial ownership of Dendreon." Also lower were shares of Michael Kors (KORS), which fell $2.55, or 3.19%, to $77.44 in a potential reaction to the cautious margin guidance and commentary about the promotional retail environment from peer Kate Spade. INDEXES: The Dow fell 9.44, or 0.06%, to 16,560.54, the Nasdaq dropped 12.08, or 0.27%, to 4,389.25, and the S&P 500 slid 3.17, or 0.16%, to 1,933.75.
News For KATE;KORS;ICPT;DNDN;TRAK From The Last 14 Days
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May 20, 2015
06:07 EDTKORSStocks with implied volatility above IV index mean; KORS BBY
Stocks with implied volatility above IV index mean; Michael Kors (KORS) 40, Best Buy (BBY) 37 according to iVolatility.
May 19, 2015
16:23 EDTICPTOn The Fly: Top stock stories for Tuesday
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11:57 EDTICPTFollow-up: Intercept downgraded on lack of catalysts at BofA/Merrill
As previously reported, BofA/Merrill downgraded Intercept to Neutral from Buy. The firm said with the announcement of Intercept's Phase 3 REGENERATE trial to evaluate OCA for NASH removes a catalyst for shares. BofA/Merrill believes the focus will now turn to PBC approval and expected in 1H 2016 launch, which is reflected in valuation. The firm maintains its $315 price target.
11:46 EDTICPTIntercept downgraded to Neutral from Buy at BofA/Merrill
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11:09 EDTICPTIntercept trial endpoints not surprising, says Deutsche Bank
Deutsche Bank says it is not surprised by the design or size of the Phase 3 OCA trial announced this morning. The firm has a Buy rating on Intercept with a $500 price target.
10:07 EDTICPTIntercept shares defended on trial design at Cowen
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09:52 EDTICPTIntercept weakness a buying opportunity, says RBC Capital
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06:32 EDTICPTIntercept to host conference call
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06:08 EDTICPTIntercept announces international Phase 3 trial of OCA
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06:00 EDTKORSStocks with implied volatility above IV index mean; KORS ALTR
Stocks with implied volatility above IV index mean; Michael Kors (KORS) 38, Altera (ALTR) 72 according to iVolatility.
May 18, 2015
10:36 EDTKATEKate Spade partnering with start-up on iPhone charging accesories, WSJ reports
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May 15, 2015
10:29 EDTDNDNAmerican Urological Association to hold an annual meeting
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05:52 EDTKORSStocks with implied volatility above IV index mean; KORS SPLS
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May 14, 2015
19:17 EDTKATEKate Spade can climb 40%, Barron's says
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13:44 EDTKORSMichael Kors weekly volatility elevated into Q4 and outlook
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13:28 EDTKORSIncreasing equity options volume
Increasing equity options volume: FCX UPS KSS CHK CSCO AVP YOKU CALM KORS
10:00 EDTKORS, KATEOn The Fly: Analyst Initiation SummaryT
Today's noteworthy initiations include: Advaxis (ADXS) initiated with a Buy at MLV & Co.... Akebia (AKBA) initiated with a Buy at Brean Capital... CarMax (KMX) initiated with a Buy at Sterne Agee CRT... Coach (COH) initiated with a Neutral at Wedbush... Euronav NV (EURN) initiated with an Outperform at Credit Suisse... Franco-Nevada (FNV) initiated with an Outperform at Macquarie... Kate Spade (KATE) initiated with an Outperform at Wedbush... Lumber Liquidators (LL) initiated with a Perform at Oppenheimer... Michael Kors (KORS) initiated with a Neutral at Wedbush... National Instruments (NATI) initiated with an Overweight at Stephens... Royal Gold (RGLD) initiated with an Outperform at Macquarie... Spectra Energy Partners (SEP) initiated with a Buy at Janney ... Spectra Energy (SE) initiated with a Buy at Janney Capital... Tribune Publishing (TPUB) initiated with a Buy at Sterne Agee CRT.
09:22 EDTKATEOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Perry Ellis (PERY), up 11.5%... Ctrip.com (CTRP), up 13.4%. ALSO HIGHER: AcelRx (ACRX), up 10.3% after being awarded contract worth up to $17M from Defense Dept to advance ARX-04... Oncothyreon (ONTY), up 16.9% after ASCO presentation data released... CYREN (CYRN), up 14.6% after announcing agreement with Dell.... Discovery Laboratories (DSCO), up 5.2% after Aerosurf shows positive Phase 2a data... Kate Spade (KATE), up 3.9% after being initiated with an Outperform at Wedbush. DOWN AFTER EARNINGS: Digital Ally (DGLY), down 16.4%... Kohl's (KSS), down 10.2%... VOXX (VOXX), down 8.1%... Cosi (COSI), down 7.3%. ALSO LOWER: Biotechnology (PBYI), down 15.1%% after Neratinib data published in ASCO abstract... Gevo (GEVO), down 10.7% after 4.3M share Spot Secondary priced at $4.00.
06:33 EDTKORSMichael Kors initiated with a Neutral at Wedbush
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May 13, 2015
16:17 EDTKATEKate Spade initiated with an Outperform at Wedbush
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