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June 17, 2014
11:18 EDTMDT, TLM, IGT, APC, SBGI, SRPT, WMB, YPF, NUANOptions with increasing implied volatility
Options with increasing implied volatility: NUAN SRPT IGT YPF SBGI TLM WMB APC MDT
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November 17, 2015
10:48 EDTNUANNuance rises after earnings as analysts point to bookings as positive sign
Shares of Nuance Communications (NUAN) climbed in morning trading after analysts from Deutsche Bank and Oppenheimer raised their price targets on the company following upbeat fourth quarter earnings. WHAT'S NEW: After the market close yesterday, Nuance reported Q4 earnings per share of 41c, beating analyst estimates of 35c, on revenue of $504.1M, just short of consensus $507.84M. The company provided guidance for fiscal 2016, saying it expects earnings per share for the year in the range of $1.35-$1.45 on revenue of $1.95B-$2B. Nuance also said it expects first quarter EPS of 31c-33c on revenue of $477.8M-$489.8M. WHAT'S NOTABLE: In the same press release, Nuance chief financial officer Dan Tempesta said that the company has made "substantial progress" on its company-wide transformation project. "We expect to continue our improvements in financial performance and lead the company to improved growth in 2016 and beyond," Tempesta said. STREET RESEARCH: Following the quarterly report, Deutsche Bank analyst Nandan Amladi maintained a Buy rating on the company's stock and raised its price target to $30 from $25, citing greater visibility from recurring revenue. Amladi said that Nuance had a "robust" finish to fiscal 2015 and that bookings and recurring revenue metrics were stronger than traditional licenses. The analyst added that the company's outlook leaves some headroom for upside and that its buyback activity should continue its "pronounced" pace heading into FY16. In addition, Oppenheimer analyst Shaul Eyal maintained an Outperform rating on Nuance and raised the price target on the company's shares to $26 from $22, saying that the company's shift towards a more software-as-a-service focused business model shows positive indications. Eyal added that the company's fundamentals are improving and that EPS accretion is supported by an ongoing share repurchase and cost containment measures. PRICE ACTION: In morning trading, Nuance rallied 14.5% to $19.53. OTHERS TO WATCH: Philips (PHG), which reached a collaboration agreement with Nuance a month ago to provide Nuance users its PowerScribe 360 software, was up 1.4% in morning trading.
10:02 EDTNUANHigh option volume stocks
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09:15 EDTNUANOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Nuance (NUAN), up 9.1%... Cheetah Mobile (CMCM), up 7.7%... Eros International (EROS), up 12.8%... Home Depot (HD), up 3.1%...Wal-Mart (WMT), up 2.2%. ALSO HIGHER: Ocera Therapeutics (OCRX), up 14.8% after announcing Phase 1 study results for the company's oral formulation of OCR-002... Fitbit (FIT), up 2.4% after being upgraded to Buy from Neutral at BofA/Merrill. DOWN AFTER EARNINGS: Dicks Sporting Goods (DKS), down 15.4%... Urban Outfitters (URBN), down 12.8%. ALSO LOWER: Osiris Therapeutics (OSIR), up 25.5% after being downgraded to Sell from Hold at Brean Capital... Angie's List (ANGI), down 8.7% after board unanimously determines not to pursue IAC (IACI) proposal... Clovis Oncology (CLVS), down 4.1% after receiving downgrades from Goldman and WallachBeth... Chesapeake Energy (CHK), down 2.5% after being downgraded to Neutral from Buy at Sterne Agee CRT... Cooper Companies (COO), down 2% after being downgraded to Market Perform from Outperform at Wells Fargo.
09:14 EDTMDTMedtronic announces FDA approval, launch of MyCareLink Smart Monitor
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08:44 EDTSRPTSarepta says eteplirsen study shows 'positive' results
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08:38 EDTAPCApache assets do not warrant a premium, says Canaccord
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08:10 EDTAPCMitsubishi UFJ to hold a conference
Oil & Gas Conference is being held in New York on November 17.
07:55 EDTNUANNuance price target raised to $26 from $22 at Oppenheimer
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06:36 EDTNUANNuance price target raised to $30 from $25 at Deutsche Bank
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November 16, 2015
18:26 EDTNUANOn The Fly: After Hours Movers
UP AFTER EARNINGS: Nuance (NUAN), up 9.5%. ALSO HIGHER: Ocera Therapeutics (OCRX), up 26.6% after announcing Phase 1 study results for the company's oral formulation of OCR-002. DOWN AFTER EARNINGS: Urban Outfitters (URBN), down 11.5%... Agilent (A), down 1.3%. ALSO LOWER: Wayfair (W), down 2% after Bloomberg reported that Whitney Tilson said that Wayfair is currently his largest short.
17:10 EDTYPFSoros took stake in Paypal, liquidated Herbalife stake
Soros Fund Management gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: Paypal (PYPL), CIT Group (CIT), Schlumberger (SLB), Kraft Heinz (KHC), and Amazon (AMZN). INCREASED STAKES: Allergan (AGN), Lions Gate (LGF), Energen (EGN), Southwest Airlines (LUV), and Qunar Cayman Islands (QUNR). DECREASED STAKES: LyondellBasell (LYB), YPF (YPF), Time Warner Cable (TWC), Dow Chemical (DOW), and Monsanto (MON). LIQUIDATED STAKES: Herbalife (HLF), Lennar (LEN), DR Horton (DHI), United Continental (UAL), and Nice Systems (NICE).
16:15 EDTNUANNuance sees Q1 EPS 31c-33c, consensus 31c
Sees Q1 GAAP revenue $477.8M-$489.8M, consensus $490.62M. Sees Q1 Non-GAAP revenue $486M-$498M.
16:13 EDTNUANNuance sees FY16 EPS $1.35-$1.45 consensus $1.38
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16:04 EDTNUANNuance reports Q4 EPS 41c, consensus 35c
Reports Q4 revenue $504.1M, consensus $507.84M. In the fourth quarter of fiscal 2015, Nuance reported GAAP revenue of $504.1M up from $502.3M a year ago. Nuance reported non-GAAP revenue of $513.3M, which includes $9.2M of revenue lost to accounting treatment in conjunction with acquisitions, compared to $520.3M in the fourth quarter of fiscal 2014. Fourth quarter 2015 revenue was negatively affected by currency fluctuations as well. If fourth quarter 2014 currency rates were applied to fourth quarter 2015 non-GAAP revenue, Nuance would have achieved approximately 1% organic non-GAAP revenue growth for the quarter. In the fourth quarter of 2015, total recurring revenue was $347M and represented 68% of total non-GAAP revenue, compared to $325.7M and 63% a year ago. In the fourth quarter of fiscal 2015, Nuance reported net new bookings of $357.4M, up 8.7% from $328.8M a year ago. If fourth quarter 2014 currency rates were applied to Nuance's fourth quarter 2015, net new bookings would have been up 12% from a year ago.
15:02 EDTNUANNotable companies reporting after market close
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13:38 EDTNUANNuance technical comments ahead of results
The stock has been trading in a range since September of this year that is defined largely by a low at $16 and a high at $17.75. If the news is bullish, there could be a breakout above the top of the range. Next resistance levels above $17.75 are at $18.49, $18.96, which is the 52-week high, and $19.39. If the news is a negative surprise, there could be a break of the low of the range. Next supports below $16 would be at $15.21, $14.60, and $14.
09:03 EDTSBGIGabelli to hold a symposium
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07:42 EDTAPCAnadarko named a Top Pick at Cowen
Cowen moved Anadarko (APC) to a Top Pick, citing valuation and the company's ability to execute large, complex mergers. Cowen noted Anadarko approached Apache (APA) and declined when the deal did not happen, but the firm sees material upside for Anadarko shares. Cowen reiterated its Outperform rating and $87 price target on Anadarko.
07:18 EDTIGTDeutsche Bank to hold a conference
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07:16 EDTSRPTFDA likely feels compelled to approve at least one DMD drug, says Leerink
Leerink analyst Joseph Schwartz says the FDA likely feels compelled to approve at least one of the exon skipping drugs to treat Duchenne muscular dystrophy in this review cycle. There is so much public attention and vocal demand in the DMD community, Schwartz tells investors in a research note. The FDA advisory panel on BioMarin's (BMRN) drisapersen is on November 24 while the panel on Sarepta's (SRPT) eteplirsen is tentatively scheduled for January 22, 2016. The greatest likelihood is that both drugs are approved, Schwartz contends. Shares of BioMarin have "significant" upside potential on a positive panel vote as many investors still doubt that drisapersen is approvable based on existing data, and approval would "greatly aid" the company's goal to reach profitability, the analyst argues. He reiterates an Outperform rating on BioMarin and a Market Perform rating on Sarepta. Jefferies analyst Eun Yang said on Friday that regulatory experts she spoke with see a high likelihood of a positive FDA panel vote BioMarin.
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