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Stock Market & Financial Investment News

News Breaks
July 9, 2014
11:51 EDTAVP, FTNT, SRPT, STX, MBI, LL, GNC, INFN, OREXOptions with increasing implied volatility:
Options with increasing implied volatility: LL SRPT OREX MBI FTNT INFN STX AVP GNC
News For LL;SRPT;OREX;MBI;FTNT;INFN;STX;AVP;GNC From The Last 14 Days
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June 29, 2015
07:43 EDTMBIMBIA volatility increases on Puerto Rico debt concerns
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07:05 EDTSRPTSarepta completes NDA submission to FDA for eteplirsen
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07:03 EDTSRPTSarepta secures $40M in debt financing
Sarepta Therapeutics announced that it entered into a credit and security agreement with Midcap Financial, a middle market-focused, specialty finance firm, that establishes a senior secured term loan facility that allows Sarepta to borrow up to $40M at an annual rate of 7.75%, with a maturity of June 2018, subject to certain conditions and other applicable fees. Sarepta has drawn down $20M under the facility and has the right to repay all borrowed funds and terminate the facility at any time.
June 26, 2015
11:00 EDTSRPT, MBIOptions with increasing implied volatility
Options with increasing implied volatility: SRPT AGO CRC WMB AMZN CMG TRIP ZTS AET MBI
10:56 EDTFTNTBarclays calls Fortinet, Palo Alto best bets in cybersecurity sector
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10:00 EDTFTNTOn The Fly: Analyst Initiation Summary
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05:41 EDTFTNTFireEye downgraded to Equal Weight from Overweight at Barclays
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05:35 EDTFTNTFortinet initiated with an Overweight at Barclays
Target $50.
June 25, 2015
17:56 EDTSTXMicron plunges after Q3 results, guidance impacted by PC headwinds
Shares of PC related memory chip maker Micron Technology (MU) are plunging after reporting third quarter financial results and fourth quarter guidance that missed analyst expectations. WHAT'S NEW: After the close, Micron reported Q3 earnings per share of 54c on revenue of $3.85B, both shy of analyst estimates of 56c and $3.9B, respectively. Citing "near-term headwinds driven primarily by weakness in PC sector," Micron gave a fourth quarter revenue view of $3.45B-$3.7B which was significantly lower than analyst expectations of $4.16B. WHAT'S NOTABLE: On the company's earnings conference call, Micron said, consistent with prior expectations, "We are forecasting DRAM industry supply bit growth in the mid-20s in calendar 2015 and in the low-to-mid 20s in 2016." The company said it sees DRAM gross margins for Q4 down mid-single digits sequentially. Additionally, the chip maker said it sees Q4 DRAM bit growth flat to up low single digits. ANALYST TAKE: On June 22, Micron was downgraded to Sell from Neutral at Goldman Sachs. Goldman analyst Mark Delaney downgraded Micron Technology to Sell saying rising DRAM supply will lower selling prices and contract margins. Delaney expects DRAM prices to drop up to 30% over the next three quarters and cut his price target for shares to $19 from $27. On the same day, JP Morgan lowered its price target on Micron shares to $33 from $37. The firm also lowered its estimates for Micron citing lower than anticipated DRAM pricing in the past three months. The firm, however, kept an Overweight rating on Micron, saying improving demand in other segments like mobile and the company's decision to not hold inventory during Q3 should help offset the DRAM weakness. PRICE ACTION: Shares of Micron are lower by 11.5% in after- hours trading to $21.25. OTHER PC RELATED STOCKS: In after-hours trading, PC related chip makers are also lower, with Intel Corporation (INTC) down 0.9%, NVIDIA (NVDA) lower by 1.1%, and AMD (AMD) down fractionally. Others trading lower include Microsoft (MSFT), SanDisk (SNDK), Hewlett-Packard (HPQ), and Seagate (STX).
12:59 EDTSRPTOptions with increasing implied volatility
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June 24, 2015
12:06 EDTFTNTU.S. data hack larger than previously disclosed, WSJ reports
Office of Personnel Management Director Katherine Archuleta said in a statement today to the House Oversight Committee that her agency is investigating whether up to 18M unique Social Security numbers were stolen as part of the previously disclosed cyberattack, Wall Street Journal reports. The hack is being defined as two distinct breaches, and the larger than previously thought numbers are preliminary and not verified, the Journal adds. Publicly traded companies in the cybersecurity space include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC). Reference Link
10:00 EDTFTNTOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Autoliv (ALV) downgraded to Sell from Neutral at Goldman... Catamaran (CTRX) downgraded to Neutral from Buy at UBS... Citi (C) downgraded to Hold from Buy at Deutsche Bank... Esperion (ESPR) downgraded to Neutral from Outperform at Credit Suisse... Fortinet (FTNT) downgraded to Neutral from Buy at Citi... General Motors (GM) downgraded to Neutral from Buy at Goldman... Goldman Sachs (GS) downgraded to Hold from Buy at Deutsche Bank... IBERIABANK (IBKC) downgraded to Neutral from Outperform at Baird... Independent Bank (INDB) downgraded to Underperform from Neutral at Baird... Inphi (IPHI) downgraded to Market Perform from Outperform at Northland... MoneyGram (MGI) downgraded to Neutral from Outperform at Macquarie... Sensata (ST) downgraded to Hold from Buy at Cross Research... Teradyne (TER) downgraded to Buy from Conviction Buy at Goldman... Alcobra (ADHD) downgraded to Hold from Speculative Buy at WBB Securities.
09:10 EDTFTNTOn The Fly: Pre-market Movers
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08:54 EDTFTNTFortinet downgraded to Neutral from Buy at Citi
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06:53 EDTFTNTFortinet downgraded to Neutral from Outperform at Baird
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June 23, 2015
12:54 EDTSTXPC concerns weighing on shares of Seagate, Western Digital
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06:25 EDTSTXWestern Digital downgraded to Neutral from Overweight at JPMorgan
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June 22, 2015
10:19 EDTFTNTAnalyst says get more selective on cybersecurity stocks
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05:56 EDTFTNTFortinet price target raised to $49 from $43 at UBS
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05:45 EDTFTNTFireEye downgraded to Neutral from Buy at UBS
UBS analyst Brent Thill downgraded FireEye (FEYE) to Neutral citing the stock's 70% rally year-to-date. Hill, however, raised his price target for name to $55 from $50. Shares of the cybersecurity provider closed Friday down 58c to $53.65. Hill also downgraded Symantec (SYMC) this morning to Sell. In the cybersecurity space, he keeps Buy ratings on Palo Alto Networks (PANW) and Fortinet (FTNT).
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