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December 4, 2012
16:21 EDTUEPS, GALE, EAT, DIS, BIG, DIN, DRI, NFLX, GERN, TEVA, CAKE, LMCAOn 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.
News For NFLX;DIS;LMCA;DRI;EAT;CAKE;DIN;GALE;TEVA;BIG;UEPS;GERN From The Last 14 Days
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February 24, 2015
09:02 EDTTEVATeva announces phase 2b study of TEV-48125 achieved endpoints
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07:25 EDTUEPSRW Baird to hold a conference
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07:15 EDTNFLXNetflix may enter Russia within two years, Hollywood Reporter says
Netflix' head of communications in Europe, Joris Evers, says the company hopes to make its entrance in Russia within the next two years, The Hollywood Reporter says. Reference Link
February 23, 2015
18:13 EDTDISBob Chapek named Chairman, Walt Disney Parks and Resorts
Bob Chapek has been named Chairman, Walt Disney Parks and Resorts, it was announced by Robert A. Iger, Chairman and CEO, and Thomas O. Staggs, COO, The Walt Disney Company. A 22-year veteran of The Walt Disney Company, Chapek has served since 2011 as President of Disney Consumer Products, driving a technology-led transformation of the company’s consumer products, retail and publishing operations. He assumes his new role effective immediately.
15:04 EDTTEVATeva announces publication of data on Phase III trials of reslizumab
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11:51 EDTDRIOpco reiterates Darden as a top idea after CEO news
Oppenheimer reiterates Darden as a top idea after the company removed the temporary status of CEO Gene Lee. Opco views the development as an incremental positive and reiterates an Outperform rating on the name.
11:35 EDTDISAmazon picks Benson to head advertising for original TV series, Variety says
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08:12 EDTDRIDarden board appoints Eugene Lee to CEO effective immediately
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February 22, 2015
13:03 EDTDISDisney raises prices at the Magic Kingdom, Orlando Sentinel says
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February 20, 2015
10:01 EDTLMCAOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Advanced Drainage (WMS) initiated with an Outperform at Boenning & Scattergood... Arctic Cat (ACAT) initiated with a Hold at BB&T... Ardmore Shipping (ASC) initiated with an Accumulate at Global Hunter... Baltic Trading (BALT) initiated with a Speculative Buy at Global Hunter... Cash America (CSH) initiated with a Buy at Jefferies... Costamare (CMRE) initiated with an Accumulate at Global Hunter... DHT Holdings (DHT) initiated with a Buy at Global Hunter... Danaos (DAC) initiated with a Neutral at Global Hunter... Diana Containerships (DCIX) initiated with a Neutral at Global Hunter... Diana Shipping (DSX) initiated with a Neutral at Global Hunter... Euronav NV (EURN) initiated with a Buy at Global Hunter... Forest City (FCE.A) initiated with a Neutral at Citigroup... Fox Factory (FOXF) initiated with a Hold at BB&T... Frontline (FRO) initiated with an Accumulate at Global Hunter... Global Ship Lease (GSL) initiated with a Neutral at Global Hunter... GrubHub (GRUB) initiated with an Overweight at Barclays... Jazz Pharmaceuticals (JAZZ) initiated with an Outperform at BMO Capital... Kinder Morgan (KMI) reinstated with an Overweight at Barclays... Liberty Broadband (LBRDA) initiated with an Outperform at FBN Securities... Liberty Interactive (QVCA) initiated with a Sector Perform at FBN Securities... Liberty Media (LMCA) initiated with an Outperform at FBN Securities... MEI Pharma (MEIP) initiated with a Buy at BofA/Merrill... Navios Acquisition (NNA) initiated with a Buy at Global Hunter... Polaris Industries (PII) initiated with a Buy at BB&T... Raven (RAVN) initiated with an Equal Weight at Stephens... Scorpio Bulkers (SALT) initiated with a Speculative Buy at Global Hunter... Scorpio Tankers (STNG) initiated with an Accumulate at Global Hunter... Seaspan (SSW) initiated with a Neutral at Global Hunter... Star Bulk Carriers (SBLK) initiated with a Speculative Buy at Global Hunter... Tsakos Energy (TNP) initiated with a Buy at Global Hunter... U.S. Concrete (USCR) initiated with an Overweight at Stephens.
09:20 EDTLMCALiberty Media initiated with an Outperform at FBN Securities
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08:04 EDTTEVATeva to present new respiratory data at AAAAI
Teva Pharmaceutical Industries announced that four company-sponsored abstracts will be presented at the 2015 Annual Meeting of the American Academy of Allergy, Asthma and Immunology, or AAAAI, in Houston, Texas. Data to be presented include two replicate 52-week Phase III global studies of the company’s anti-IL5 monoclonal antibody, reslizumab, in patients with asthma and elevated blood eosinophils who were inadequately controlled on medium-to-high doses of inhaled corticosteroids with or without an additional controller. The data are scheduled for presentation on Monday, February 23 during an oral session titled “Asthma Therapy and Mechanisms.” Also to be presented are two Phase III studies of beclomethasone dipropionate 40mcg, which gained FDA approval in December 2014, and is now available for the treatment of nasal symptoms associated with allergic rhinitis in children 4-11 years of age. In addition, a dose-response study evaluating the safety and efficacy of fluticasone/salmeterol multidose dry-powder inhaler in patients 12 years of age and older with persistent asthma will be presented.
07:08 EDTTEVAAmerican Academy of Allergy, Asthma and Immunology to hold annual meeting
2015 Annual Meeting of AAAAI is being held in Houston, Texas on February 20-24.
February 19, 2015
17:03 EDTTEVATeva to initiate Phase 2b TV-45070 clinical trial
Xenon Pharmaceuticals (XENE) announced that its development and commercialization partner Teva Pharmaceutical (TEVA) will initiate a Phase 2b clinical trial of TV-45070 in patients with post-herpetic neuralgia, or PHN. The Phase 2b clinical trial in PHN will be a randomized, double-blind, placebo controlled, multi-site study to evaluate the efficacy and safety of TV-45070 in patients with PHN. The study will include three treatment groups to receive doses of 4% or 8% of TV-45070 or placebo, dosed twice daily. Approximately 330 patients will be enrolled in the study. Patients will be stratified into treatment groups based on their R1150W status, a genetic pain biomarker believed to be related to pain susceptibility. The primary endpoint of this study is the change from baseline to week 4 in the numeric rating scale, or NRS, scores. Secondary endpoints include additional pain measurement scores at specified daily time points, the percentage of patients with greater than 30% and greater than 50% improvement in pain scores, quality of life measurements and adverse events measurements. The first patient is anticipated to be dosed in March, and the anticipated completion date for the Phase 2b clinical trial is mid-2016.
16:01 EDTNFLXOptions Update; February 19, 2015
iPath S&P 500 VIX Short-Term Futures down 70c to 30.11. Option volume leaders: AAPL TSLA TWTR AMAT PBR KO FB AXP NFLX according to Track Data.
12:24 EDTUEPSNet 1 UEPS management to meet with Sterne Agee
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February 18, 2015
16:00 EDTNFLXOptions Update; February 18, 2015
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09:37 EDTNFLXOption volume leaders on open
Option volume leaders: AAPL TSLA TWTR CELG APO NFLX AXP APA LNKD C GILD according to Track Data.
07:45 EDTTEVAEagle Pharmaceuticals price target raised to $37 from $30 at Cantor
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07:13 EDTTEVAEagle Pharmaceuticals target raised to $43 from $25 at William Blair
William Blair raised its price target for Eagle Pharmaceuticals (EGRX) to $43 saying the company's agreement with Teva (TEVA) removes a major overhang on the stock. William Blair says the deal is a significant positive for Eagle since it removes litigation risk and moves the company immediately into profitability. It keeps an Outperform rating on the stock.
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