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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.
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September 28, 2015
17:42 EDTGOOGGoogle Nexus 5X preorders to open Tuesday at $379, Android Police says
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17:30 EDTGOOGGoogle to introduce email-based ad targeting
Google ads and commerce SVP Sridhar Ramaswamy announced in a blog post that the company will be introducing two new ad products, namely Customer Match and Universal App Campaigns. Ramaswamy explained, "Customer Match allows you to upload a list of email addresses, which can be matched to signed-in users on Google in a secure and privacy-safe way. From there, you can build campaigns and ads specifically designed to reach your audience... You can also generate Similar Audiences to reach new customers on YouTube and Gmail." Customer Match and Similar Audiences will be rolling out to all advertisers over the next few weeks. Ramaswamy continued, "Starting [September 27], Universal App Campaigns will be available to all developers and advertisers as a new AdWords campaign type that helps you connect with app users across Google Search, Google Play, YouTube, and the Google Display Network." Reference Link
15:06 EDTGOOGD-Wave announces quantum computing agreement with Google, NASA
D-Wave Systems announced that it has entered into an agreement covering the installation of a succession of D-Wave systems located at NASA's Ames Research Center in Moffett Field, California. The agreement supports collaboration among Google, NASA and USRA that is dedicated to studying how quantum computing can advance artificial intelligence and machine learning, and the solution of complex optimization problems. The new agreement enables Google and its partners to keep their D-Wave system at the state-of-the-art for up to seven years, with new generations of D-Wave systems to be installed at NASA Ames as they become available. Reference Link
10:43 EDTGOOGMicrosoft planning Google Cardboard VR competitor, TNW News says
Microsoft (MSFT) is working on a competitor to Google's (GOOG) Cardboard Virtual Reality program, TNW News reports. The Seattle-based tech giant is inviting participants to an event in Russia on October 17, offering cardboard headsets to those with "successful" suggestions, the report says. Microsoft is already developing its HoloLens "mixed reality" technology, the report says. Reference Link
07:40 EDTGOOGGoogle to unveil new phones at September 29 event, BI reports
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06:42 EDTGOOGGoogle to bring free Wi-Fi to 400 train stations in India
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06:25 EDTGOOGYouTube finalizing subscription launch for two services, Re/code reports
YouTube is finalizing launch plans for its subscription service expected to be launch near the end of October, reports Re/code. In a blast email to content owners, YouTube said they would have to agree to the new terms by October 22 or their "videos will no longer be available for public display or monetization in the United States." According to sources, YouTube intends to bundle two different services that include an update of its music service and the ability to watch anything on YouTube without seeing ads. Reference Link
05:35 EDTBIIBBiogen implied volatility of 52 at upper end of index mean range
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September 25, 2015
17:33 EDTGOOGDelta Air Lines, Google, Amgen look attractively priced, Barron's says
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12:38 EDTBIIBOptions with increasing implied volatility
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10:48 EDTGOOGMorgan Stanley cautious on media, but sees several stocks punished too hard
Morgan Stanley cut its price targets on a number of media companies, citing the impact of cord cutting and skinny bundles. The firm also reduced its outlook for the pay-TV sector due to its belief that the adoption of skinny bundles will accelerate, while the outlook for cable TV ads has deteriorated slightly, given macro pressures. The firm kept a Cautious view on the media sector, but also identified several stocks in the space that it thinks have been punished too harshly by investors recently. WHAT'S NEW: TV networks in general, and cable networks in particular, have the highest margins in media and are encountering increased top and bottom line competitive pressures, Morgan Stanley analyst Benjamin Swinburne believes. On the top line, they are being hit by ratings and ad pressures as well as cord cutting and distribution consolidation, the analyst stated. Meanwhile, their profit is being hurt by the increased need to obtain new content and intensified competition for content from new sources like Netflix (NFLX) and Google's (GOOG) YouTube, Swinburne said. However, the analyst thinks that media stocks are "starting to get" cheap, given the leverage that many of the companies carry. Swinburne cuts his price target on 21st Century Fox (FOXA) to $31 from $37, on AMC Networks (AMCX) to $86 from $88, on CBS (CBS) to $46 from $56, on Time Warner (TWX) to $72 from $87 and on Viacom (VIAB) to $48 from $60. He kept Overweight ratings on Fox, AMC and CBS, an Equal Weight rating on Time Warner and an Underweight rating on Viacom. OVERDONE DECLINES: Swinburne believes that the declines in three media stocks - CBS, 21st Century Fox, and AMC Networks - have been overdone, while the decline in Comcast's (CMCSA) stock has also been excessive. CBS and 21st Century Fox are "best positioned for the skinny bundle" and have the cheapest valuations relative to their growth rates, Swinburne believes. Meanwhile, AMC Networks has "content momentum" and its EPS can exceed expectations, the analyst believes. Comcast is gaining share in the broadband Internet market, could take share in video soon, and has sufficient scale and offerings to benefit from the increased popularity of skinny bundles, according to the analyst, who kept an Overweight rating on the stock. The media sector could benefit from consolidation going forward, added Swinburne, who recommended that investors interested in buying potential takeover targets in the space focus on AMC Networks, MSG Networks (MSG) and Dreamworks Animation (DWA). He kept Overweight ratings on all three of those stocks. OTHERS TO WATCH: Besides Comcast, other pay TV companies include DISH Network (DISH) and Charter Communications (CHTR). PRICE ACTION: In early trading, Fox A shares lost 0.5% to $25.83, AMC fell 0.3% to $73.29, CBS added 0.2% to $41, Time Warner was little changed at $67.66 and Comcast A shares added 0.6% to $57.17.
10:26 EDTGOOGBlackBerry posts quarterly loss, says turnaround continuing
BlackBerry (BBRY) shares are lower in morning trading after the company posted a second quarter loss that was steeper than analysts' expectations. BlackBerry is in the middle of a turnaround for its smartphone business and confirmed today that it plans to launch a new device that uses Google's (GOOG) Android operating system. EARNINGS: Excluding items, BlackBerry reported a loss per share for Q2 of (13c), below analysts' consensus estimates of (9c). Revenue for the quarter was $490M, reflecting a purchase accounting write down of deferred revenue associated with the acquisition of WatchDox. The revenue result may not compare with analysts' estimate of $611M. Looking ahead, BlackBerry said it is targeting "sustainable" non-GAAP profitability in the fourth quarter and sees "modest" sequential growth in total revenue for the rest of fiscal year 2016. The company sees a "slight" uptick in third quarter revenue compared to this quarter, and announced it will change its non-GAAP income statement presentation to be "consistent with the primary practice in the software industry." BlackBerry said it believes this is necessary due to its increased emphasis on software, as well as acquisitions of software companies with material recurring revenue streams. On the company's earnings conference call, John Chen, BlackBerry's chief executive officer, announced that the board approved an increase to the current buyback program by an additional 15M shares, bringing the total available for repurchase to 21M shares. The approval was based on expectations for continued free cash flow. Chen said that he believes the company has made "good progress" moving its software business from perpetual to subscription. Chen said he is "not satisfied" as far as overall revenue and profitability, particularly in its handset business, but said the company is focused on growing device volume profitably, generating recurring revenue from IP licensing and making its software business larger. WHAT'S NOTABLE: To help strengthen its device business, Chen confirmed BlackBerry will launch a new slider device powered by Google's Android operating system later this calendar year, to be called Priv. Chen also confirmed that the company will continue to develop and enhance the BlackBerry 10 operating system and confirmed plans to release platform updates focused on security and privacy enhancements. Chen said the company is working with Google to secure Android and is not using Samsung's (SSNLF) Knox. Chen said the company is not planning another BlackBerry 10 device this year and noted that if the plan of doing the Android type of implementation "works well," it could consider replacing BB10 or merging it into Android. PRICE ACTION: BlackBerry is down 2% to $6.89 in morning trading.
08:50 EDTGOOGBlackBerry says working with Google on securing Android
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07:55 EDTBIIBBiogen, Sobi receive position opinion for Elocta from CHMP
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07:32 EDTBIIBBiogen, Sobi receive positive CHMP opinion for Elocta for Hemophilia A
Biogen and Swedish Orphan Biovitrum AB received a positive recommendation from the European Medicines Agency's Committee for Medicinal Products for Human Use for the marketing authorization of ELOCTA. ELOCTA is a recombinant factor VIII Fc fusion protein product for the treatment of hemophilia A that, if approved, would be the first hemophilia A treatment with prolonged circulation available in the European Union. The positive opinion was based on results from the pivotal, Phase 3 A-LONG clinical study, which examined the efficacy, safety and pharmacokinetics of rFVIIIFc in previously treated males 12 years of age and older with severe hemophilia A, and from the Phase 3 Kids A-LONG clinical study, which evaluated the efficacy and safety of rFVIIIFc in previously treated male children with hemophilia A under 12 years of age. The Committee's positive opinion is now referred to the EC, which grants marketing authorization for medicines in the EU. ELOCTA is the European trade name for rFVIIIFc, which is also known as ELOCTATE in the U.S., Canada, Australia, New Zealand and Japan, where it is approved for the treatment of hemophilia A. Commonly reported adverse drug reactions in the clinical studies were arthralgia, malaise, myalgia, headache and rash. Development of Factor VIII neutralizing antibodies may occur following administration of ELOCTA. Biogen and Sobi are collaboration partners in the development and commercialization of ELOCTA/ELOCTATE for hemophilia A. Last year, Sobi exercised its opt-in right to assume final development and commercialization of ELOCTA in the Sobi territories. Biogen leads development for ELOCTA/ELOCTATE, has manufacturing rights, and has commercialization rights in North America and all other regions in the world excluding the Sobi territories.
07:04 EDTGOOGBlackBerry launches slider device Priv
BlackBerry (BBRY) is announcing two new additions to its handheld device roadmap. First, the company will launch a flagship slider device, Priv, which will run on the Android (GOOG) operating system, bringing together the best of BlackBerry security and productivity with the expansive mobile application ecosystem available on the Android platform. In combination with BlackBerry's efforts to support Android for Work on the BES12 platform, the new device will offer best in class security for enterprise customers. BlackBerry expects the device to be available late in the calendar year in major markets in-store and online, and will release further details in the coming weeks. While the new device will provide a choice in OS to new and existing customers, the company remains committed to the BlackBerry 10 operating system, which enables industry-leading security and productivity benefits. Second, the company will continue to develop and enhance the BlackBerry 10 operating system and is confirming plans to release platform updates focused on security and privacy enhancements, with version 10.3.3 scheduled to be available in March 2016.
06:59 EDTGOOGGoogle to be investigated by U.S. regulators over Android, Bloomberg reports
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06:21 EDTGOOGFacebook's free internet effort in developing countries 'inadequate,' WSJ says
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06:16 EDTGOOGGoogle October volatility elevated
Google September weekly call option implied volatility is at 23, October is at 37, November is at 30; compared to its 52-week range of 16 to 41, suggesting large October price movement.
05:58 EDTGOOGIndian Prime Minister to meet with Apple, Google CEOs, WSJ reports
Indian Prime Minister Narendra Modi will meet this weekend with Google (GOOG) CEO Sundar Pichai, Facebook (FB) founder Mark Zuckerberg and Apple (AAPL) CEO Tim Cook, among others, The Wall Street Journal reports. According to industry insiders, the tech executives will use the visit to push for better market access in India as well as clearer regulation on investment and startups. Reference Link
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