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Stock Market & Financial Investment News

News Breaks
December 4, 2012
16:21 EDTNFLX, UEPS, BIG, TEVA, GALE, DIN, CAKE, EAT, DRI, LMCA, DIS, GERNOn The Fly: Closing Wrap
Stocks on Wall Street were slightly lower after a day marked by a light flow of news and economic data. Fiscal cliff headlines continued to come out of Washington, with President Obama speaking to Bloomberg TV in his first interview since the election, though the market had a limited reaction to the President's comments... ECONOMIC EVENTS: No major economic data was released in the U.S. Internationally, the Reserve Bank of Australia cut its key benchmark interest rate to 3.00% from 3.25%, as expected, and the Bank of Canada maintained its target for its overnight rate at 1%... COMPANY NEWS: Netflix (NFLX) announced a distribution agreement that gives it exclusive U.S. subscription rights to Disney (DIS) films beginning in 2016. Shares of Netflix jumped following the news, advancing $10.65, or 14.01%, to $86.65. Shares of Disney, which had been lower during much of the session, eventually pared losses to close up 1c, or 0.02%, to $49.30. Meanwhile, Liberty Media (LMCA), whose Starz unit currently holds the rights to Disney movies under a deal that expires in 2015, declined $5.42, or 4.88%, to $105.63... Darden Restaurants (DRI) warned its profit for the current quarter and the year may fall well short of analyst expectations and shares plunged following the guidance, finishing the day down $5.02, or 9.58%, to $47.40. Shares of peers in the casual restaurant industry, including Brinker (EAT), Cheesecake Factory (CAKE) and DineEquity (DIN), moved lower as well... MAJOR MOVERS: Among the notable gainers were Galena Biopharma (GALE), up 20c, or 9.80%, to $2.24 after signing a commercialization partnership for its NeuVax drug with Teva (TEVA), and Big Lots (BIG), up $3.23, or 11.52%, to $31.27 after its quarterly losses were not as steep as expected. Among the noteworthy losers was Net 1 UEPS (UEPS), which plunged $4.62, or 58.93%, to $3.22 after disclosing the DOJ and FBI are investigating the company for potential violations of the Foreign Corrupt Practices Act. Also lower were shares of Geron (GERN), down 34c, or 22.97%, to $1.14 after it discontinued development of a treatment for brain cancer, announced job cuts and said its CFO is leaving the company to pursue other opportunities... INDICES: The Dow was down 13.82, or 0.11%, to 12,951.78; the Nasdaq was down 5.51, or 0.18%, to 2,996.69; and the S&P 500 was down 2.41, or 0.17%, to 1,407.05.
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August 7, 2014
12:06 EDTTEVATeva will continue to defend COPAXONE intellectual property rights
Teva (TEVA) confirmed that it has received the first paragraph IV notice for its three-times-a-week COPAXONE 40 mg/mL product from Dr. Reddy’s Laboratories (RDY). Teva will continue to vigorously defend its COPAXONE intellectual property rights against infringement wherever they are challenged. Teva intends to file a lawsuit for patent infringement against Dr. Reddy’s within the 45 day period provided under the Hatch-Waxman Act. The filing of the lawsuit will trigger a 30 month stay of FDA approval of Dr. Reddy’s ANDA. COPAXONE 40 mg/mL is protected by two Orange Book patents that expire in 2030.
10:49 EDTEATBrinker says free cash flow view includes litigation settlement
Still sees CapEx declining. Says constantly evaluating franchise/refranchise opportunities.
10:24 EDTEATBrinker still sees EPS of $4 by 2017
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10:21 EDTEATBrinker sees FY15 revenue up 4%, consensus $2.99B
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10:20 EDTTEVAMylan says litigation ins ongoing in India regarding Teva
Mylan (MYL) said that it expects Teva's (TEVA) efforts to seek an injunction will "as ineffective as it was in U.S. courts." The company said it will not provide further comment on the matter. Mylan said it will also postpone its 2014 Investor Day due to the ongoing nature of the Abbott (ABT) transaction. It expects its fully realized savings and profit from new products will not be realized till 2015. Comments taken from Q2 earnings conference call.
09:36 EDTNFLXActive equity options trading on open
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07:51 EDTEATBrinker sees FY15 adjusted EPS $3.00-$3.15, consensus $3.11
Sees FY15 comparable restaurant sales to increase 1%-2%; Sees FY15 company-owned new restaurant development to add YoY capacity growth of about 1%; Sees FY15 restaurant operating margin to improve 25 to 50 basis points YoY. Sees FY15 free cash flow $180M-$190M.
07:50 EDTEATBrinker reports Q4 Chili's sales $639.8M, Q4 Maggiano's sales $95.2M
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07:49 EDTEATBrinker reports Q4 company sales $734.98M, Q2 franchise revenue $23.74M
Reports Q4 comparable restaurant sales at company-owned restaurants up 2.3%. Reports Q4 Chili's company-owned comparable restaurant sales up 2.5%; Reports Q4 Maggiano's comparable restaurant sales up 0.9%; Reports Q4 Chili's franchise comparable restaurant sales up 1.2%.
07:49 EDTEATBrinker reports Q4 adjusted EPS 85c, consensus 87c
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06:41 EDTNFLXNetflix CEO says has more subscription revenue than HBO
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August 6, 2014
16:01 EDTNFLX, DISOptions Update; August 7, 2014
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15:49 EDTEATNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Duke Energy (DUK), consensus 98c; Intercontinental Exchange (ICE), consensus $2.02; Mylan (MYL), consensus 70c; Scripps Networks (SNI), consensus $1.13; Brinker International (EAT), consensus 87; AES Corporation (AES), consensus 28c; NRG Energy (NRG), consensus 15c; Harman International (HAR), consensus $1.21; Windstream Holdings (WIN), consensus 8c; Teradata (TDC), consensus 65c; Markel (MKL), consensus $5.79; OGE Energy (OGE), consensus 51c; SunEdison (SUNE), consensus (28c); Royal Gold (RGLD), consensus 29c; Sabre (SABR), consensus 18c; Broadridge (BR), consensus $1.16; Huntington Ingalls (HII), consensus $1.81; AMC Networks (AMCX), consensus 85c; Laredo Petroleum (LPI), consensus 18c; HSN (HSNI), 77c; Wendy's (WEN), consensus 10c; Orbitz Worldwide (OWW), consensus 15c.
13:45 EDTEATEarnings Preview: RBC notes 'worrisome' industry trends ahead of Brinker report
Brinker International (EAT) is scheduled to report fourth quarter results before the market open on Thursday, August 7, with a conference call scheduled for 10:00 am ET. Brinker owns, develops, operates and franchises the Chili's Grill & Bar and Maggiano's Little Italy restaurant brands. EXPECTATIONS: Analysts are looking for earnings per share of 87c on revenue of $749.67M, according to First Call. The consensus range for EPS is 82c-88c on revenue of $744.5M-$759.11M. LAST QUARTER: Brinker reported third quarter adjusted EPS of 84c against estimates for 83c on revenue of $758.41M against estimates for $766.27M. Q3 comparable restaurant sales at company-owned restaurants increased 0.7%. NEWS: During its Q2 earnings call, Brinker said it was on track to double fiscal year 2012 EPS by fiscal year 2017. The company said 46% of its commodities were contracted through the end of calendar year 2014 and forecast some near-term inflationary pressure. Longer term, Brinker said it did not see pressure from commodities inflation. STREET RESEARCH: RBC Capital downgraded Brinker to Sector Perform from Outperform to reflect "worrisome" industry trends. The firm expects Brinker's new initiatives to enable the company to continue to grow its sales at a faster rate than the industry average, but the initiatives are unlikely to enable the company to generate "outsized" traffic for the company. During the quarter, shares were upgraded to Overweight from Neutral at JPMorgan and downgraded to Hold from Buy at Wunderlich. PRICE ACTION: Over the last three months, Brinker shares are down over 9%. Year-to-date, shares are down almost 4%.
13:01 EDTDISCharter, ESPN sign distribution agreement for SEC Network
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11:28 EDTNFLXYahoo appoints former Netflix executive Mike Kail as CIO
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09:18 EDTDISDisney price target raised to $105 from $94 at BofA/Merrill
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09:13 EDTDISDisney price target raised to $96 from $90 at BMO Capital
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06:43 EDTDISDisney price target raised to $100 from $90 at JPMorgan
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06:20 EDTDRICredit Suisse to hold a conference
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