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June 2, 2014
09:14 EDTMTZ, ARIA, VTR, Z, NPSP, PBYI, OMER, HCT, BRCM, CYTK, PCYC, PL, SHPGOn The Fly: Pre-market Movers
HIGHER: NPS Pharmaceuticals (NPSP), up 21% after the Times of London reported that Shire (SHPG) secured a $5B credit facility led by Citigroup (C) for a takeover offer for the company... Broadcom (BRCM), up 15% after saying it will explore strategic alternatives for cellular baseband business, backing Q2 revenue expectations... Protective Life (PL) rises 17% after Dai-ichi Life Insurance reported to be in talks to buy the company... American Realty Capital (HCT) up 10% after Ventas (VTR) agreed to acquire the company for $2.6B in stock and cash. Ventas shares down 1.8% in pre-market trade following the deal announcement... Conn's (CONN), up 10% after reporting better than expected Q1 earnings results... ARIAD (ARIA), up 13.5% after FDA lifts partial clinical hold on Iclusig study. LOWER: MasTec (MTZ), down 13% after lowering its Q2 EPS view... Puma Biotechnology (PBYI), down 16% after presentation of PB272 Phase II data... Cytokinetics falls 8.8% after announcing further results from BENEFIT-ALS trial... Zillow (Z), down 4% after shares downgraded at Pacific Crest and at RBC Capital.
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February 17, 2015
09:12 EDTSHPGShire multiple poised to expand, says SunTrust
SunTrust believes that Shire's rare disease unit will account for 40% of its 2020 sales, versus the company's estimate of about 35%. As a result, the firm expects the company's multiple to "re-rate." The firm thinks that the company's long-term growth outlook is underappreciated, and it keeps a $262 price target and Buy rating on the shares.
09:05 EDTPCYCPharmacyclics announces positive results from treatment with IMBRUVICA
Pharmacyclics announced that treatment with IMBRUVICA was associated with an 88% overall response rate, or ORR, with a median time on study of 23.3 months, in 16 patients with relapsed/refractory, or R/R, high-risk chronic lymphocytic leukemia. These patients had a median of five prior therapies and 63% were high-risk del 17p CLL patients. The estimated median progression-free survival, or PFS, at 24 months was 76.6%. All patients had previously undergone allogeneic stem cell transplant, a procedure in which stem cells from one person are transplanted to another. A second presentation during the BMT Tandem meeting highlighted data from five patients with R/R CLL who had undergone allo-HCT. The researchers concluded that these results support further study of IMBRUVICA in patients following allo-HCT, including those patients with chronic GVHD. Study PCYC 1129, a multicenter open--label Phase Ib/II study of IMBRUVICA in steroid--dependent or refractory chronic GVHD patients, has completed its Phase Ib without dose limiting toxicities and is now enrolling the Phase II portion at the recommended Phase II dose of 420 mg.
08:25 EDTZZillow Q4 preannouncement shows revenue momentum, says Canaccord
Canaccord said Zillow's (Z) Q4 earnings preannouncement shows that it is gaining revenue momentum. The firm believes the future is bright for the company, which is set to close its purchase of Trulia (TRLA) as soon as today. Canaccord maintained its Buy rating and $125 price target on Zillow shares.
05:50 EDTZZillow to host conference call
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February 13, 2015
17:52 EDTSHPGThird Point gives quarterly update on stakes
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17:06 EDTZZillow reports Q4 average monthly unique visitors nearly 77M, up 41% y/y
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17:05 EDTZZillow says acquisition of Trulia expected to close as early as February 17
Zillow announced it expects to close the previously announced acquisition of Trulia as early as February 17 following notification from the Federal Trade Commission that it has closed its investigation.
17:04 EDTZZillow reports Q4 adjusted EBITDA $20M
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17:02 EDTZZillow reports Q4 adjusted EPS 24c, consensus 28c
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10:00 EDTCYTKOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Ametek (AME) upgraded to Outperform at RW Baird... Ascena Retail (ASNA) upgraded to Buy from Hold at KeyBanc... Cabela's (CAB) upgraded to Buy from Neutral at DA Davidson... CoreSite Realty (COR) upgraded to Overweight from Equal Weight at Stephens... Cytokinetics (CYTK) upgraded to Overweight from Neutral at Piper Jaffray... DTS, Inc. (DTSI) upgraded to Outperform at Cowen... Dr Pepper Snapple (DPS) upgraded to Market Perform from Underperform at Wells Fargo... Elizabeth Arden (RDEN) upgraded to Outperform from Market Perform at BMO Capital... EnLink Midstream (ENLC) upgraded to Buy from Hold at Wunderlich... GlaxoSmithKline (GSK) upgraded to Buy from Sell at UBS... Great-West Lifeco (GWLIF) upgraded to Buy from Hold at TD Securities... Himax (HIMX) upgraded to Buy from Neutral at Chardan... Mallinckrodt (MNK) upgraded to Overweight from Neutral at JPMorgan... Medical Properties upgraded to Outperform from Sector Perform at RBC Capital... Microchip (MCHP) upgraded to Buy from Hold at Drexel Hamilton... Orbitz (OWW) upgraded to Neutral from Sell at Goldman... Plains GP Holdings (PAGP) upgraded to Overweight from Equal Weight at Stephens... SanDisk (SNDK) upgraded to Buy from Hold at Drexel Hamilton... SkyWest (SKYW) upgraded to Buy from Hold at Deutsche Bank... Stage Stores (SSI) upgraded at Sterne Agee... Tractor Supply (TSCO) upgraded to Buy from Hold at Argus... Valero (VLO) upgraded to Conviction Buy from Neutral at Goldman... Watsco (WSO) upgraded to Overweight from Equal Weight at Stephens.
09:21 EDTCYTK, ARIAOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Cytokinetics (CYTK), up 15.6%... King Digital (KING), up 22.2%... Cyberark Software (CYBR), up 19.2%... (WWWW), up 4%... CBS (CBS), up 3.4%. ALSO HIGHER: Freescale Semiconductor (FSL), up 10.9% following a New York Post report that the company is exploring a sale. Carlyle Group (CG), which owns Freescale, along with Blackstone (BX), is up 1.5%. Blackstone is up fractionally... Whiting Petroleum (WLL), up 4.4% following a Bloomberg report that the company is seeking a buyer for assets in North Dakota... Ariad Pharmaceuticals (ARIA), up 5.7% following a CNBC report that Sarissa Capital is seeking to replace Ariad CEO and Chairman Harvey Berger. DOWN AFTER EARNINGS: Knowles (KN), down 20.3%... Zynga (ZNGA). down 12.4%... J.M. Smucker (SJM), down 2.1%. ALSO LOWER: Magnachip Semiconductor (MX), down 51.7% after restating financial results... Idera Pharmaceuticals (IDRA), down 7.6% after 20M share Secondary priced at $3.75.
09:08 EDTSHPGShire price target raised to $280 from $240 at Susquehanna
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08:23 EDTCYTKPiper Jaffray biotech/healthcare analysts hold analyst/industry conference call
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08:19 EDTSHPGAckman noncommittal on McDonald's rumors, Bloomberg reports
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08:13 EDTARIASarissa reportedly seeks CEO change at Ariad, CNBC says
Sarissa Capital is seeking to replace Ariad Pharmaceuticals' CEO and Chairman Harvey Berger and could begin a proxy fight during the "next few weeks," reports CNBC, citing a person familiar with the hedge fund's plans. New director proposals are due February 25 and Sarissa may not opt for a proxy fight if an agreement can be reached. Reference Link
07:35 EDTVTRVentas sees FY15 normalized FFO $4.63-$4.71, consensus $4.68
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07:34 EDTVTRVentas reports Q4 normalized FFO $1.15, consensus $1.12
Reports Q4 revenue $803.99M, consensus $792.81M.
06:35 EDTCYTKCytokinetics upgraded to Overweight from Neutral at Piper Jaffray
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06:28 EDTSHPGSources: Shire takes initial steps towards Salix bid, Reuters reports
According to sources, Shire (SHPG) is beginning to take steps towards a bid for Salix Pharmaceuticals (SLXP), including evaluating how to secure financing for a potential bid, Reuters reports. Bloomberg previously reported that Valeant (VRX) is weighing a bid of over $150 per share for Salix. Reference Link
06:13 EDTSHPGShire says $1.6B break fee from AbbVie is not taxable, Financial Times reports
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