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Stock Market & Financial Investment News

News Breaks
June 17, 2014
16:27 EDTGWPH, ORCL, CBI, MCRS, ACOR, SCTYOn The Fly: Closing Wrap
Stocks on Wall Street began the day in negative territory, thanks in part to worse than expected economic data. The consumer price index came in higher than expected, while housing starts and building permits both came in well below analysts' consensus forecasts. The averages drifted off their opening lows and eventually made it into positive territory, where the market drifted for most of the rest of the day. The volume was light, as investors sat on the sidelines while the Federal Reserve board convened for the central bank's latest rate setting and policy meeting. ECONOMIC EVENTS: In the U.S., the consumer price index rose 0.4% in May, which was above the consensus forecast for an increase of 0.2%. Housing starts in the month declined 6.5% to a rate of about 1M and building permits slid 6.4% to a rate of 991K, which were both lower than expected. The Federal Reserve began its latest Federal Open Market Committee meeting, which will conclude tomorrow. COMPANY NEWS: Elon Musk's SolarCity (SCTY) advanced $9.65, or 17.58%, to $64.53 after the solar energy system installer agreed to acquire solar panel technology and manufacturing company Silevo for up to $350M dollars. SolarCity said it sees its manufacturing capacity allowing it to create "the most vertically integrated solar company" with an "industry-leading" cost structure that aims to make solar competitive with grid costs. The company also said it is in talks with the state of New York to build a plant with targeted capacity greater than 1 GW within the next two years, which it says will be "one of the single largest solar panel production plants in the world." MAJOR MOVERS: Among the notable gainers was register system and hospitality software maker Micros Systems (MCRS), which surged $8.62, or 14.94%, to $66.33 after Bloomberg reported that the company is in talks to be acquired by tech giant Oracle (ORCL) for "more than" $5B. Also higher was GW Pharmaceuticals (GWPH), which jumped $12.57, or 16.27%, to $89.82 after it announced physician reports of efficacy and safety data on 27 children and young adults with treatment-resistant epilepsy who have been treated with GW's investigational cannabidiol product candidate, Epidiolex, for a period of 12 weeks. Among the noteworthy losers was Chicago Bridge & Iron (CBI), which fell $5.32, or 7.23%, to $68.26 after research firm Prescience Point alleged that the company has used "creative acquisition accounting" to conceal its losses and placed a Strong Sell rating on the shares. Also lower were shares of Acorda Therapeutics (ACOR), which fell $3.16, or 8.96%, to $32.12 after announcing an offering of $300M of convertible senior notes. INDEXES: The Dow was up 27.48, or 0.16%, to 16,808.49, the Nasdaq was up 16.13, or 0.37%, to 4,337.23, and the S&P 500 was up 4.21, or 0.22%, to 1,941.99.
News For MCRS;ORCL;SCTY;CBI;GWPH;ACOR From The Last 14 Days
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December 17, 2014
06:44 EDTORCLGoogle opponents lobbying state attorneys general, NY Times says
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December 16, 2014
12:55 EDTORCLOracle December volatility increases into Q2 and outlook
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08:48 EDTSCTYSolarCity reiterated as a top pick at Goldman
Goldman reiterated SolarCity as a Conviction Buy and a top pick with an $88 price target given secular growth potential and its disruptive business model. The analyst said SolarCity's near-term improving cash flow visibility is underappreciated and sees significant upside to shares.
08:03 EDTORCLUnisys names Peter Altabef as new CEOOracle
Unisys Corporation (UIS) announced that it has named Peter Altabef as President and CEO, effective January 1, 2015. At that time Altabef also will join the company's board of directors. Altabef was most recently President and CEO of MICROS Systems from January 2013 until the completion in September 2014 of its acquisition by Oracle (ORCL). Paul Weaver, currently interim Chairman of the Unisys board, will become Chairman, effective January 1, 2015.
December 15, 2014
10:00 EDTORCLOn The Fly: Analyst Upgrade Summary
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09:27 EDTORCLOn The Fly: Pre-market Movers
HIGHER: Opko Health (OPK), up 13.1% after Pfizer (PFE) and OPKO Health enter into global agreement for hGH-CTP... Cirrus Logic (CRUS), up 7.5% after being upgraded to Overweight from Underweight at Barclays... PetSmart (PETM), up 4.7% after being acquired by BC Partners led consortium for $83 per share... Sohu.com (SOHU), up 3% after being upgraded to Overweight from Neutral at JPMorgan... Oracle (ORCL), up 2.2% after receiving FedRAMP provisional authority to operate. LOWER: Unwired Planet (UPIP), down 25.7% after commenting on Google (GOOG) Markman ruling... EXCO Resources (XCO), down 13% after suspending its dividend.
09:03 EDTORCLOracle achieves FedRAMP provisional authority to operate
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08:01 EDTCBIChicago Bridge & Iron downgraded to Hold from Buy at Stifel
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07:33 EDTORCLOracle upgraded at Morgan Stanley
As previously reported, Morgan Stanley upgraded Oracle to Overweight from Equal Weight. The firm's surveys indicate improving Cloud Apps growth in 2015 against low expectations and weak sentiment, favorable adoption of the new 12c database options next year, and improved perception value in Engineered Systems. Price target is $50.
07:08 EDTACORAcorda Therapeutics announces initiation of Phase 3 dalfampridine trial
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06:34 EDTORCLOracle upgraded to Overweight from Equal Weight at Morgan Stanley
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December 12, 2014
10:01 EDTORCLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: BreitBurn Energy (BBEP) downgraded to Hold from Buy at Wunderlich... CIBC (CM) downgraded to Underperform from Neutral at Credit Suisse... Costco (COST) downgraded to Neutral from Buy at Janney Capital... Discovery (DISCA) downgraded to Sector Perform from Outperform at RBC Capital... Emerald Oil (EOX) downgraded to Neutral from Accumulate at Global Hunter... Goodrich Petroleum (GDP) cut to Underweight on lower oil at JPMorgan... Hain Celestial (HAIN) downgraded to Sector Perform from Outperform at RBC Capital... Hovnanian (HOV) downgraded to Neutral from Buy at Compass Point... Mindray Medical (MR) downgraded to Underweight from Equal Weight at Morgan Stanley... Morgan Stanley (MS) downgraded to Neutral from Buy at Buckingham... Oracle (ORCL) resumed with a Neutral from Overweight at Piper Jaffray... Rackspace (RAX) downgraded to Underperform from Neutral at DA Davidson... Zayo Group (ZAYO) downgraded to Neutral from Buy at BTIG.
07:24 EDTORCLOracle December volatility elevated into Q2 and outlook
Oracle December call option implied volatility is at 40, January is at 26, March is at 22; compared to its 26-week average of 22 according to Track Data suggesting larger near term price movement into the expected release of Q2 results after the close on December 17.
06:40 EDTORCLOracle resumed with a Neutral from Overweight at Piper Jaffray
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December 10, 2014
08:03 EDTCBICB&I awarded plant services contract renewal valued at $80M
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07:02 EDTACORAcorda Therapeutics announces initiation of Phase 3 CVT-301 trial
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December 5, 2014
10:00 EDTACOROn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Acorda Therapeutics (ACOR) initiated with a Neutral at Goldman... Builders FirstSource (BLDR) initiated with a Neutral at Sterne Agee... CSI Compressco (CCLP) initiated with a Buy at Stifel... California Resources Corp. (CRC) initiated with a Market Perform at Raymond James... Castlight Health (CSLT) initiated with an Equal Weight at First Analysis... DCP Midstream (DPM) initiated with a Buy at MLV & Co.... DSP Group (DSPG) initiated with an Outperform at Imperial Capital... Edwards Lifesciences (EW) initiated with an Outperform at Bernstein... EnLink Midstream (ENLK) initiated with a Buy at MLV & Co.... Facebook (FB) initiated with a Buy at MKM Partners... FireEye (FEYE) initiated with a Market Perform at JMP Securities... FleetCor (FLT) initiated with a Buy at Deutsche Bank... Imperva (IMPV) initiated with a Buy at Nomura... Keryx (KERX) initiated with an Outperform at Cowen... Knowles (KN) initiated with a Market Perform at FBR Capital... Marlin Midstream (FISH) initiated with a Buy at MLV & Co.... Paragon Offshore (PGN) initiated with a Sector Perform at Iberia... PepsiCo (PEP) initiated with a Buy at Evercore ISI... Proofpoint (PFPT) initiated with a Buy at Nomura... Relypsa (RLYP) initiated with an Outperform at Oppenheimer... Rocket Fuel (FUEL) initiated with a Sell at Maxim... Sprouts Farmers Markets (SFM) initiated with an Underperform at Longbow... Summit Midstream (SMLP) initiated with a Buy at MLV & Co.... TubeMogul (TUBE) initiated with a Buy at Maxim... Western Gas Partners (WES) initiated with a Buy at MLV & Co.
07:17 EDTORCLOracle December volatility elevated into Q2 and margin outlook
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December 4, 2014
17:46 EDTSCTYSolarCity CEO says optimistic to get to 'all in cost per watt ' target
Comment from CNBC interview.
17:08 EDTACORAcorda Therapeutics initiated with a Neutral at Goldman
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