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Stock Market & Financial Investment News

News Breaks
February 27, 2013
10:00 EDTGTE, NOK, RIMG, GOOG, DRI, LNC, EXPD, WLT, EIX, BIIB, OII, JBHT, RSH, EME, MDRXOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Allscripts (MDRX) upgraded to Outperform from Neutral at Credit Suisse... Biogen (BIIB) upgraded to Buy from Hold at Canaccord... Darden (DRI) upgraded to Neutral from Underperform at BofA/Merrill... EMCOR Group (EME) upgraded to Buy from Hold at KeyBanc... Edison International (EIX) upgraded to Buy from Neutral at SunTrust... Google (GOOG) upgraded to Buy from Neutral at BofA/Merrill... RadioShack (RSH) upgraded to Market Perform from Underperform at Raymond James... Walter Energy (WLT) upgraded to Outperform from Sector Perform at Iberia... Rimage (RIMG) upgraded to Buy from Neutral at Dougherty... J.B. Hunt (JBHT) upgraded to Outperform from Market Perform at Avondale... Expeditors (EXPD) upgraded to Outperform from Market Perform at Avondale... Nokia (NOK) upgraded to Buy from Hold at Argus... Oceaneering (OII) upgraded to Buy from Neutral at Sterne Agee... Lincoln National (LNC) upgraded to Buy from Neutral at BofA/Merrill... Google (GOOG) upgraded at BofA/Merrill... Gran Tierra Energy (GTE) upgraded to Overweight from Neutral at JPMorgan.
News For MDRX;BIIB;DRI;EME;EIX;GOOG;RSH;WLT;RIMG;JBHT;EXPD;NOK;OII;LNC;GTE From The Last 14 Days
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July 15, 2015
11:56 EDTGOOGGoogle search might help FDA find unknown drug side effects, Bloomberg reports
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10:01 EDTLNCOn The Fly: Analyst Downgrade Summary
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09:18 EDTGOOGAdobe's Flash disabled by Google due to security worries, WSJ says
Just days after Facebook's (FB) top security executive called on Adobe (ADBE) to discontinue its Flash animation player, Google’s (GOOG) Chrome and Mozilla’s Firefox browsers blocked old versions of the software on Tuesday after reports that hackers were using a security flaw to infiltrate computers, reported The Wall Street Journal's "Digits" blog. Firefox and Chrome will allow Flash to run again if it is updated with the patch Adobe released Tuesday morning, the report noted. Reference Link
08:27 EDTGOOGAdobe says Google display ad strategy underperforms Facebook in Q2
In its "Digital Advertising & Social Intelligence Report" for Q2, Adobe (ADBE) wrote that Facebook's (FB) display ad changes doubled its click-through-rates, or CTRs, year-over-year in the quarter, while Google's (GOOG) display targeting changes reduced its number of ads seen by 22% compared to the prior year and its CTRs were up "only" 24% compared to the same period of last year. The report also contends that the "Mobilegeddon" fears regarding Google's changes to favor mobile friendly sites came true, noting that sites with low mobile engagement saw up to a 10% decrease in organic traffic after the changes were made by the search giant. Reference Link
08:07 EDTJBHTJ.B. Hunt July volatility elevated into Q2 and outlook
J.B. Hunt July call option implied volatility is at 45, August is at 23, November is at 22 compared to its 52-week range of 15 to 28, suggesting large near term price movement into the expected release of Q2 results on July 17.
07:59 EDTGOOGGoogle price target raised to $710 from $614 at B. Riley
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07:58 EDTBIIBAnalysts break down impact of $7.2B Receptos buyout
After Celgene (CELG) announced last night that the company has agreed to acquire Receptos (RCPT) for $232 per share in cash, or a total of about $7.2B net of cash acquired, research firms have chimed in with their opinions on how the proposed deal may impact others in the biotech space. Receptos key asset is Ozanimod, which is being studied in Phase III trials for relapsing multiple sclerosis and ulcerative colitis. DERIVATIVE CALLS: Piper Jaffray analyst Edward Tenthoff told investors that he views Celgene's deal for Receptos as good for Arena Pharmaceuticals (ARNA). The analyst notes that Arena's APD334 is already showing dose-dependent decreases in circulating lymphocyte counts and that the company will initiate Phase II studies in ulcerative colitis and Crohn's disease this year. Tenthoff reiterates an Overweight rating and $7.50 price target on Arena, which has a market capitalization around $1B and closed yesterday up 8c to $4.47. In its own note to investors this morning, Nomura said Celgene's deal could put downward pressure on Biogen's (BIIB) long-term multiple sclerosis estimates. Nomura's M. Ian Somaiya contended that one-year Phase II efficacy data for Ozanimod looked as good as Novartis’s (NVS) Gilenya and Biogen's Tecfidera’s Phase III at year 2. Somaiya also wondered if rival Gilead (GILD) could be "looking for something bigger" than Receptos for its own deal, telling investors that the firm views Incyte (INCY) as Gilead's most likely takeout target. Incyte's shares closed up $4.46 at $117.46 yesterday, giving the company a market cap of about $20B. RIVAL BID?: Wedbush analyst Liana Moussatos believes another bidder may seek to acquire Receptos, noting that she previously estimated Receptos could be valued at $348 per share, or about $10.9B, in a buyout. Moussatos noted that Celgene said it expects annual peak sales for Ozanimod to reach about $4B-$6B for RMS and UC, making its acquisition price of $7.2BN only a bit more than about 1X peak sales without accounting for other possible indications or the rest of its pipeline. Moussatos told investors she sees "plenty" of potential upside to justify a rival bidder stepping in and reiterated the firm's Outperform rating on Receptos shares. PRICE ACTION: In pre-market trading, Receptos rose 10% to $228.61 while Gilead gained 1.4% to about $119 per share.
07:29 EDTNOKNokia's HERE forms Open Mobile Ticketing Alliance
Nokia's (NOK) HERE mapping services announced that along with partners in the public and private sector it is forming the Open Mobile Ticketing Alliance, an effort to develop global standards that would allow people to buy public transit tickets from a single app on their mobile devices in cities worldwide. The aim of the Open Mobile Ticketing Alliance is to enable the vision of 'Register once, travel anywhere' by developing open, interoperable standards with payment vendors and transit operators. Other founding members include transportation service providers Scheidt & Bachmann and Thales (TCSFY), and mobile payment provider Verifone (PAY) Mobile Money. Public transit authorities implementing solutions based on OMTA benefit from lower fare-collection costs, while passengers can get the lowest possible fare based on how often they ride.
06:34 EDTLNCLincoln National downgraded to Outperform from Strong Buy at Raymond James
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06:30 EDTGOOGGoogle July volatility elevated into Q2 and outlook
Google July call option implied volatility is at 35, August is at 23, September is at 21 compared to its 52-week range of 16 to 39, suggesting large near term price movement into the expected release of Q2 results on July 16.
July 14, 2015
13:01 EDTGOOGFanDuel completes $275M funding round from KKR, Google Capital, Bloomberg says
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11:26 EDTGOOGGoogle price target raised to $744 from $614 at B. Riley
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11:05 EDTBIIBForward Pharma, Biogen tell PTO no settlement reached, Markman Advisors says
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10:01 EDTBIIBOn The Fly: Analyst Upgrade Summary
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09:06 EDTGOOGMerkle announces deal with Google to adopt DoubleClick's marketing solutions
Merkle, a data-driven, technology-enabled performance marketing agency, has reached an agreement with Google to adopt the full suite of DoubleClick’s marketing solutions. As part of the agreement, Merkle will be one of the first agencies to use DoubleClick’s cross-device measurement, which was unveiled by Google at the June 17 DoubleClick Leadership Summit.
07:49 EDTNOKUber no longer in race to buy Nokia mapping division, NY Times reports
Uber submitted a bid to buy Nokia's "Here" mapping division for as much as $3B, but the ride-hailing service operator is out of the running to acquire the unit as Nokia (NOK) focuses its negotiations on a potential deal with a group of German automakers, including Daimler's (DDAIF) Mercedes-Benz, Volkswagen's (VLKAY) Audi (AUDVF) and BMW (BAMXY), reported The New York Times, citing three people with knowledge of the matter. Reference Link
07:28 EDTBIIBBiogen upgraded to Buy from Neutral at BofA/Merrill
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06:20 EDTGOOGQualcomm to work with Google-backed Thread Group, Re/code reports
Qualcomm (QCOM) said it is working with Thread Group, a Google (GOOG) backed effort to find ways for internet connected devices to communicate with one another, Re/code reports. Reference Link
06:15 EDTGOOGGoogle seeks ways to operate more efficiently, WSJ reports
Google is slowing down hiring and seeking ways to run more efficiently, the Wall Street Journal reports, citing sources familiar with the matter. New CFO Ruth Porat has been active in the company's cost-cutting measures, the report says, having started an internal audit examining costs, revenue, and accounting systems. Google is expected to offer an expenses update on Thursday when it reports its second quarter financial results, the report says. Reference Link
06:12 EDTNOKNokia says it may design, license mobile phone in 2016, Reuters reports
Nokia said that it might begin designing and licensing mobile phone handsets under its main brand name in 2016, Reuters reports. The company is looking for a partner to take on manufacturing, sales, marketing, and customer support for the products, the report says. Reference Link
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