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February 1, 2013
10:01 EDTZTS, ARP, SFLY, OIS, NBR, EW, SPN, PDS, OII, NCS, NILE, SSH, PTEN, NOV, HPOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Blue Nile (NILE) initiated with an Outperform at Wells Fargo... Edwards Lifesciences (EW) initiated with a Buy at Janney Capital... Helmerich & Payne (HP) initiated with a Neutral at Credit Suisse... NCI Building Systems (NCS) initiated with a Buy at BB&T... Nabors Industries (NBR) initiated with an Underperform at Credit Suisse... National Oilwell (NOV) initiated with a Neutral at Credit Suisse... Oceaneering (OII) initiated with a Neutral at Credit Suisse... Oil States (OIS) initiated with an Outperform at Credit Suisse... Patterson-UTI Energy (PTEN) initiated with a Neutral at Credit Suisse... Precision Drilling (PDS) initiated with a Neutral at Credit Suisse... Shutterfly (SFLY) initiated with a Market Perform at Wells Fargo... Sunshine Heart (SSH) initiated with an Overweight at Piper Jaffray... Zoetis (ZTS) initiated with a Buy at ISI Group... Superior Energy (SPN) initiated with an Outperform at Credit Suisse... Atlas Resource Partners (ARP) initiated with a Neutral at Citigroup.
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July 24, 2015
08:04 EDTPDSPrecision Drilling upgraded to Outperform at Scotia Howard Weil
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06:10 EDTPDSPrecision Drilling upgraded to Outperform from Sector Perform at Scotia
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July 23, 2015
11:57 EDTSSHSunshine Heart U.S. trial update as expected, says Piper Jaffray
Piper Jaffray said Sunshine Heart's announcements that 12 sites for its C-Pulse System study have now been reactivated and that two patients have been enrolled since resuming the trial were in line with the firm's expectations. The firm still thinks Sunshine is on track to accelerate enrollment in the next 12 months and keeps an Overweight rating and $10 price target on its shares.
10:00 EDTOIIOn The Fly: Analyst Upgrade Summary
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06:36 EDTOIIOceaneering upgraded to Hold from Underperform at Jefferies
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06:17 EDTPDSPrecision Drilling reports Q3 EPS (10c), consensus (19c)
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06:02 EDTPTENPatterson-UTI reports Q2 EPS (13c), consensus (27c)
Reports Q2 revenue $472.76M, consensus $439.77M.
05:39 EDTSSHSunshine Heart says 12 sites reactivated in Counter HF study for C-Pulse
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July 22, 2015
17:08 EDTOIIOceaneering lowers FY15 EPS outlook to $2.70-$2.90 from $2.80-$3.20
FY15 EPS consensus is $2.87. Oceaneering CEO Kevin McEvoy said, "Our overall outlook for the second half of this year is down somewhat from last quarter's guidance, primarily on reduced expectations for Subsea Products and Asset Integrity. We now expect to report EPS of $1.34-$1.54 during the second half of 2015. Given this outlook and our year-to-date performance, we are lowering our 2015 EPS guidance to a range of $2.70-$2.90 from $2.80-$3.20, down about 7% at the midpoints. Relative to the first half of 2015, during the second half we expect to generate higher operating income from Subsea Products and AdTech, lower ROV and Subsea Projects results, and a similar operating income contribution from Asset Integrity... We believe our cash flow and liquidity position us well to manage our business through the current low commodity price environment. Longer-term, deepwater is still expected to continue to play a critical role in global oil supply growth required to replace depletion and meet projected demand."
17:04 EDTOIIOceaneering sees Q3 EPS 65c-75c, consensus 77c
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17:03 EDTOIIOceaneering reports Q2 adjusted EPS 76c, consensus 68c
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15:26 EDTPTENNotable companies reporting before tomorrow's open
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15:26 EDTOIINotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Qualcomm (QCOM), consensus 95... American Express (AXP), consensus $1.32... Texas Instruments (TXN), consensus 65c... Las Vegas Sands (LVS), consensus 61c... Crown Castle (CCI), consensus $1.06... Discover Financial (DFS), consensus $1.32... Tractor Supply (TSCO), consensus $1.11... SanDisk (SNDK), consensus 33c... SL Green Realty (SLG), consensus $1.56... Xilinx (XLNX), consensus 54c... Weatherford (WFT), consensus (12c)... F5 Networks (FFIV), consensus $1.60... United Rentals (URI), consensus $1.74... Fortinet (FTNT), consensus 9c... LaSalle Hotel (LHO), consensus 89c... Oceaneering International (OII), consensus 68c... Cheesecake Factory (CAKE), consensus 62c.
July 21, 2015
16:25 EDTZTSZoetis files automatic mixed securities shelf
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10:01 EDTARPOn The Fly: Analyst Downgrade Summary
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07:23 EDTARPAtlas Resource Partners downgraded to Underperform at Raymond James
As previously reported, Raymond James downgraded Atlas Resource Partners to Underperform from Market Perform. The firm believes the Atlas is close to hitting leverage covenants in the wake of declining cash flows and failing commodity prices.
07:17 EDTARPAtlas Resource downgraded to Underperform from Market Perform at Raymond James
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06:58 EDTZTSZoetis added to US 1 List at BofA/Merrill
July 20, 2015
08:38 EDTZTSAnalyst predicts Zoetis merges with Bayer unit, not Valeant
Zoetis (ZTS) in recent months has been the subject of takeover speculation, possibly for Valeant (VRX), but a Jefferies analyst told investors today in a research note that he views a deal with a unit of healthcare giant Bayer (BAYRY) as "highly likely" for the animal medicine company. BACKGROUND: Bill Ackman of Pershing Square, who owns stakes in both Zoetis and Valeant, said in early May while speaking on CNBC that Zoetis is a "great” business on a standalone basis, but he also spoke of the company's strategic value. Ackman added, however, that he was "not sure" that Valeant was the best acquirer of Zoetis. Subsequently, in late June, The Wall Street Journal reported that Valeant made a preliminary approach regarding a potential deal to buy Zoetis. CNBC's David Faber said the next day, citing his own sources, that Valeant reached out to Zoetis as a courtesy to common shareholder Ackman and was unlikely to pursue an acquisition of the company, though he cautioned then Valeant could change its approach and pursue a deal. BAYER: Jefferies analyst Jeffrey Holford said in a note today that he views a tie-up between Zoetis and Bayer's Animal Health business in 2016 as "highly likely." He sees Mylan's (MYL) acquisition of Abbott's (ABT) non‑U.S. developed markets specialty and branded generics business as a potential proxy for how a transaction could be structured, adding that such a "spinversion" could achieve up to 36% long-term earnings accretion for Zoetis. Holford reiterated a Buy rating on Zoetis with a $60 price target, while downgrading Bayer to Hold, citing valuation following the recent outperformance of its shares. IDEXX: While being discussed as a target, some analysts have also opined on companies that Zoetis could pursue as a buyer. On June 29, Canaccord said that in investor meetings with IDEXX (IDXX) executives declined to comment on Zoetis' potential interest in scaling up its animal health diagnostics business. Canaccord added that it thought Zoetis could make a bid for IDEXX. The firm reiterated its Buy rating and $80 price target on IDEXX shares at that time. PRICE ACTION: Since June 25, the day the Journal first reported on Valeant's preliminary takeover approach to Zoetis, the animal health company's shares have dropped nearly 4%. Zoetis closed down 20c to $47.80 on Friday.
07:30 EDTZTSZoetis 'highly likely' to merge with Bayer unit in 2016, says Jefferies
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