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Stock Market & Financial Investment News

News Breaks
July 1, 2014
12:34 EDTSTAA, FOLD, NFLX, SNY, AYI, REGN, TWTROn The Fly: Midday Wrap
Stocks on Wall Street were sharply higher at midday in the first trading day of the month and the new quarter. The market has not had such a good start to the second half of a year since 2011. The day’s domestic economic data was generally in-line with expectations, while reports from abroad confirmed that manufacturing expanded last month in China and in the eurozone. ECONOMIC EVENTS: In the U.S., two separate manufacturing readings were released. Markit's manufacturing purchasing manager's index for June had a final reading of 57.3, which was a hair below the 57.5 flash estimate but up from May's 56.4 reading. ISM's manufacturing index slipped very slightly to 55.3 in June from May's 55.4 figure. Construction spending increased 0.1% in May, missing the forecast for 0.5% growth. In China, the purchasing manager's index reading from HSBC and Markit came in at 50.7, which was a bit below the preliminary reading but above the 50 mark that indicates expansion for the first time since December. In Europe, Markit's final eurozone manufacturing PMI for June came in at 51.8, which was down from 52.2 in the prior month and below the earlier flash estimate of 51.9, but still indicated expansion in the sector. COMPANY NEWS: Shares of Netflix (NFLX) climbed 6% after Goldman Sachs upgraded the stock in a note to investors earlier today, predicting that Netflix's total worldwide market will more than double over the next three years and its subscriber growth will continue to exceed expectations... Twitter (TWTR) rose more than 4% after hiring Anthony Noto as its new Chief Financial Officer away from Goldman Sachs (GS), which had handled the social network's IPO. Noto served as a Managing Director in the Technology, Media and Telecom group at Goldman since October 2010 after having served as the CFO of the National Football League previously. MAJOR MOVERS: Among the notable gainers was Amicus Therapeutics (FOLD), which rose 23% following upgrades at Leerink and Janney Capital that came a day after the company provided updates on its potential monotherapy for Fabry patients. Also higher was Regeneron (REGN), which advanced 7% after Sanofi (SNY) disclosed in a regulatory filing that it plans to increase its beneficial ownership stake in its smaller pharmaceutical industry peer to 22.5% from 20.5%. Among the noteworthy losers was STAAR Surgical (STAA), which dropped 18% after it received a warning letter from the FDA following the regulator's inspection of a manufacturing plant. Also lower following its earnings reports was lighting solutions maker Acuity Brands (AYI), which fell 13% after its sales and profits missed expectations. INDEXES: Near midday, the Dow was up 134.80, or 0.8%, to 16,961.40, the Nasdaq was up 50.88, or 1.15%, to 4,459.06, and the S&P 500 was up 13.62, or 0.69%, to 1,973.85.
News For NFLX;TWTR;AYI;FOLD;REGN;SNY;STAA From The Last 14 Days
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March 18, 2015
15:28 EDTTWTRRumor: Twitter moves higher on speculation of an activist investor stake
13:23 EDTNFLXBattleground: Oppenheimer weighs in on Netflix with positive note
The recent weakness in Netflix's (NFLX) stock has created a buying opportunity, Oppenheimer wrote in a note to investors today. Oppenheimer's upbeat note comes after research firm Stifel issued a positive note on the stock yesterday and a third firm, Evercore ISI, downgraded the shares to sell on Monday. BULLISH TAKE: Noting that Netflix's stock has dropped 15% from its 52-week high, Oppenheimer analyst Jason Helfstein said that the decline creates a good buying opportunity ahead a number of "tier 1" original show launches by the company. History indicates that tier 1 original shows have the most impact on the company's net subscriber additions, the analyst stated. Worries about competition have weighed on the shares, but Netflix can beat the competition by using its data to provide superior programming, according to the analyst. He kept a $483 price target and Outperform rating on the shares. Stifel analyst Scott Devitt yesterday stated that concerns about the company's competition are overdone, as Netflix's positioning in the U.S. is as strong as ever and continues to improve as it adds more content. Time Warner's (TWX) upcoming launch of a video on demand service called HBO Now is the primary cause of the decline in Netflix's stock, Devitt contended, noting he views the HBO Now launch as "a non-event" for Netflix. Most Netflix subscribers who obtain HBO Now will probably keep both services, Devitt believes. BEARISH TAKE: Evercore ISI analyst Ken Sena on Monday downgraded Netflix shares to Sell from Hold. Increased competition will force the company to raise its investments, and the return from those investments is uncertain, the analyst contended. In the U.S., technological advancements are enabling content providers to sell their programming to a wider range of Internet video distributors. Moreover, content providers themselves are now able to stream more of their programming online and obtain higher profits from doing so, Sena reported. Netflix's international expansion will not be sufficient to offset the increased competition, especially because foreign viewers are likely to watch less TV and be less interested in paying for TV content, the analyst believes, adding that Netflix will face even more competition overseas than in the U.S. Sela reduced his price target on the shares to $380 from $450. PRICE ACTION: In mid-afternoon trading, Netflix was little changed near $418 per share.
09:36 EDTTWTRActive equity options trading on open
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09:32 EDTSNYMannKind faces cash shortfall if $100M debt not settled, TheStreet says
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08:59 EDTAYIAcuity Brands price target raised to $172 from $163 at RW Baird
Baird raised its price target to $172 from $163 citing improved market growth, strong cyclical fundamentals, and favorable long-term risk/reward. Baird reiterated its Outperform rating on Acuity Brands shares.
08:05 EDTNFLXNetflix weakness creates buying opportunity, says Oppenheimer
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06:04 EDTTWTRTwitter implied volatility of 37 at lower end of index mean range
06:01 EDTNFLXStocks with implied volatility above IV index mean; BBRY NFLX
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March 17, 2015
16:00 EDTTWTR, NFLXOptions Update; March 17, 2015
iPath S&P 500 VIX Short-Term Futures down 11c to 27.30. Option volume leaders: AAPL RIG MGM HTZ TWTR TSLA CY KO NFLX C according to Track Data.
13:06 EDTNFLXBattleground: Analysts take opposite sides on Netflix
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11:23 EDTNFLXApple willing to share TV data to attract programming partners, NY Post reports
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10:26 EDTNFLX, FOLDOptions with increasing implied volatility
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10:00 EDTTWTROn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Aimco (AIV) initiated with an Outperform at RW Baird... Alnylam (ALNY) initiated with a Buy at Janney Capital... American Campus (ACC) initiated with a Neutral at RW Baird... AvalonBay (AVB) initiated with a Neutral at RW Baird... BE Aerospace (BEAV) initiated with a Buy at CRT Capital... BlackRock (BLK) initiated with a Buy at Argus... Camden Property (CPT) initiated with an Outperform at RW Baird... CarMax (KMX) initiated with a Buy at Evercore ISI... Central Pacific (CPF) initiated with a Neutral at Macquarie... Cognex (CGNX) initiated with a Buy at Northcoast... Education Realty (EDR) initiated with a Neutral at RW Baird... EnerSys (ENS) initiated with an Overweight at Stephens... Equity Lifestyle (ELS) initiated with an Outperform at RW Baird... Equity Residential (EQR) initiated with a Neutral at RW Baird... Essex Property Trust (ESS) initiated with a Neutral at RW Baird... Facebook (FB) initiated with a Buy at Brean Capital... Intercept (ICPT) initiated with a Hold at MLV & Co.... Isis Pharmaceuticals (ISIS) initiated with a Neutral at Janney Capital... LinkedIn (LNKD) initiated with a Sell at Brean Capital... Mid-America Apartment (MAA) initiated with an Outperform at RW Baird... NetSuite (N) initiated with a Hold at Brean Capital... Paycom (PAYC) initiated with a Buy at Brean Capital... Platform Specialty Products (PAH) initiated with a Buy at UBS... Post Properties (PPS) initiated with a Neutral at RW Baird... Salesforce.com (CRM) initiated with a Hold at Brean Capital... ServiceNow (NOW) initiated with a Buy at Brean Capital... Snap-On (SNA) initiated with a Buy at Northcoast... Sun Communities (SUI) initiated with a Neutral at RW Baird... Twitter (TWTR) initiated with a Buy at Brean Capital... UDR, Inc. (UDR) initiated with an Outperform at RW Baird... Workday (WDAY) initiated with a Hold at Brean Capital... Xplore Technologies (XPLR) initiated with a Buy at Roth Capital... Yahoo (YHOO) initiated with a Hold at Argus.
10:00 EDTSNYOn The Fly: Analyst Upgrade Summary
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09:34 EDTTWTR, NFLXActive equity options trading on open
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08:02 EDTSNYSanofi says Shantha will provide up to 37M doses of Shan5
Sanofi Pasteur, the vaccines division of Sanofi, announced that its affiliate Shantha Biotechnics of Hyderabad, India has delivered the first 400,000 doses of its pediatric pentavalent vaccine Shan5 to support the immunization of children in the cities of Gwalior and Jabalpur, both in the state of Madhya Pradesh, India. In December 2014, following a two-year international tender, Shantha was awarded to supply global health organizations with a total of 37M doses of Shan5 in 2015 and 2016, in a ten-dose vial presentation. This tender provides the basis upon which purchase orders will be made for specific vaccine deliveries throughout the period, the company said.
07:43 EDTSNYSanofi upgraded to Outperform on abating concerns at Leerink
Leerink upgraded Sanofi to Outperform from Market Perform saying key concerns around the lack of a CEO, Toujeo positioning and guidance are either resolved or largely factored into expectations. The firm believes the company's currency risk is hedged over time and that its multibillion dollar PCSK9 and dupilumab therapy assumptions have further upside potential. It raised its price target for shares to EUR 106 from EUR 85.
07:12 EDTNFLXConcerns over Netflix competition overblown, says Stifel
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05:50 EDTNFLXStocks with implied volatility movement; DD NFLX
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05:40 EDTSNYSanofi upgraded to Outperform from Market Perform at Leerink
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