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Stock Market & Financial Investment News

News For NVS;MOS;SCCO;ADM;IP From The Last 14 Days
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January 29, 2016
07:53 EDTNVSNovartis management to meet with JPMorgan
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07:37 EDTNVSRadius Health should be bought aggressively at current prices, says Canaccord
Canaccord said they would be aggressive buyers of Radius Health (RDUS) especially at current share prices. The firm cited its partnership with Novartis (NVS), its drug pipeline, and expectations for an FDA filing of abaloparatide in the first quarter of 2016. Canaccord reiterated its Buy rating and $85 price target on Radius Health shares.
January 28, 2016
12:09 EDTNVSRadius Health to hold a conference call
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11:33 EDTADMOptions with increasing call volume
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09:38 EDTNVSNovartis downgraded to Neutral from Outperform at Exane BNP Paribas
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January 27, 2016
16:33 EDTNVSRadius Health announces clinical collaboration with Novartis
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12:19 EDTNVSPiper Jaffray biopharma analyst holds an analyst/industry conference call
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05:22 EDTNVSNovartis sees FY16 revenue, core operating income in line with FY15
Group net sales and core operating income in 2016 are expected to be broadly in line with the prior year, after absorbing the impact of generic competition. Generic competition impact on sales is expected to be as much as $3.2B compared to $2.2B in 2015.
05:20 EDTNVSNovartis reports Q4 core EPS $1.14, consensus $1.18
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January 26, 2016
14:32 EDTNVSNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Novartis (NVS), consensus $1.18... Boeing (BA), consensus $1.26... United Technologies (UTX), consensus $1.52... Biogen (BIIB), consensus $4.08... EMC (EMC), consensus 65c... General Dynamics (GD), consensus $2.38... Anthem (ANTM), consensus $1.22... Illinois Tool Works (ITW), consensus $1.21... State Street (STT), consensus $1.18... Norfolk Southern (NSC), consensus $1.24... Progressive (PGR), consensus 47c... St. Jude Medical (STJ), consensus $1.01... Rockwell Automation (ROK), consensus $1.33... Textron (TXT), consensus 83c... Hess (HES), consensus ($1.47)... Cliffs Natural (CLF), consensus (26c).
11:34 EDTNVSJuno, Kite valuations at risk following study, TheStreet's Feuerstein says
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10:00 EDTSCCOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AMC Entertainment (AMC) upgraded on valuation, 2017 outlook at RBC Capital... America Movil upgraded to Overweight from Equal Weight at Morgan Stanley... BNC Bancorp (BNCN) upgraded to Buy from Hold at Gabelli... Casella Waste (CWST) upgraded to Strong Buy from Outperform at Raymond James... Cenovus Energy (CVE) upgraded to Buy from Neutral at Goldman... Cracker Barrel (CBRL) upgraded to Buy from Neutral at SunTrust... D.R. Horton (DHI) upgraded to Buy from Hold at Zelman... Edison International (EIX) upgraded to Buy from Hold at Evercore ISI... First Financial Bancorp (FFBC) upgraded to Buy from Hold at Sandler O'Neill... Hartford Financial (HIG) upgraded to Overweight from Neutral at Atlantic Equities... Heartland Financial (HTLF) upgraded to Buy from Hold at Sandler O'Neill... MFA Financial (MFA) upgraded to Overweight from Neutral at JPMorgan... National General (NGHC) upgraded to Overweight at Morgan Stanley... Navios Maritime Partners (NMM) upgraded to Overweight from Neutral at JPMorgan... PG&E (PCG) upgraded to Buy from Hold at Evercore ISI... SBA Communications (SBAC) upgraded to Buy from Hold at Stifel... Sally Beauty (SBH) upgraded to Outperform from Perform at Oppenheimer... Sanmina (SANM) upgraded to Neutral from Sell at Citi... Scorpio Bulkers (SALT) upgraded to Overweight from Neutral at JPMorgan... Southern Company (SO) upgraded to Hold from Sell at Evercore ISI... Southern Copper (SCCO) upgraded to Overweight from Neutral at JPMorgan... Vodafone (VOD) upgraded to Buy from Hold at Jefferies.
06:30 EDTSCCOGrupo Mexico downgraded to Neutral from Overweight at JPMorgan
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06:28 EDTSCCOSouthern Copper upgraded to Overweight from Neutral at JPMorgan
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January 25, 2016
13:08 EDTMOSPotash slips as analyst casts doubt on dividend
Feed and fertilizer companies Mosaic (MOS) and Potash Corp. (POT) are both trading lower after being cut to Neutral from Overweight at JPMorgan, with the research firm calling into question Potash's dividend yield in the face of weak pricing for its staple commodity products. DIVIDEND DOUBT: As lower nitrogen and potash prices pressure cash flows, Potash Corp. looks reasonably likely to cut its dividend down to $1.00 per share from $1.52 during 2016, JPMorgan analyst Jeffrey Zekauskas argued Tuesday. Zekauskas clarified, however, that the fertizilier company has "wide discretion" as to whether it might actually continue to pay its current dividend, given its $3B in monetizable equity and a healthy balance sheet that could allow additional leverage. That said, the analyst's base case is that Potash will shrink the dividend amid the industry's cyclical downturn, leading him to lower his rating on the stock to Neutral and significantly cut his 2016 earnings predictions to $1.10 from $1.45. MOSAIC: Zekauskas also lowered his rating on Mosaic to Neutral while slashing his 2016 EPS estimates to $1.85 from $2.75, citing weaker prices for potash and phosphate. Unlike Potash Corp., Mosaic looks unlikely to cut its roughly 4.6% dividend yield, the analyst said. Zekauskas maintained that both companies remain attractive for longer-term value investors, saying he plans to review their ratings after Potash potentially rethinks its dividend and Wall Street financial estimates move lower. CEO COMMENTS: Speaking at the January 21 CIBC investor conference, Potash CEO Jochen Tilk stated, "We obviously believe -- and I'm sure you concur -- that the dividend is an important part of our company. And [when] we look at the cash ability that we have in 2016, the first goal is to be prudent with our balance sheet... More specifically to the dividend, I can't talk because we have our board meetings next week... It's on the agenda. It's a big discussion. We've done a lot of work in the analysis. We've done exactly what you say. We've done all the work that leads to the visibility to our balance sheet." PRICE ACTION: Shares of Potash Corp. have fallen roughly 6.7% to $15.02, while Mosaic is down 5.7% to $22.50.
10:55 EDTNVSRegeneron slips after analyst says sell to avoid risk from Amgen patent suit
Shares of Regeneron Pharmaceuticals (REGN) fell in morning trading after an analyst at Chardan downgraded the stock to Sell, citing risk from a patent lawsuit in which the biopharmaceutical company is involved. CHARDAN SAYS SELL: Chardan Capital Markets analyst Gbola Amusa downgraded Regeneron to Sell from Neutral this morning, while reducing his price target on shares to $400 from $525. In a note to clients, Amusa said he believes that Regeneron is likely to face significant risks from the upcoming patent infringement case for Praluent. The suit could be a key driver of the company's share price performance in the near future, the analyst said. Regeneron, along with its partner Sanofi (SNY), launched Praluent in the U.S. last year, after the October 2014 filing of a patent infringement suit by Amgen (AMGN) relating to patents for "monoclonal antibodies that bind PCSK9," Amusa noted. The analyst believes that since Regeneron and Sanofi "likely" infringe Amgen's patents for Repatha, the Regeneron-Sanofi partnership could seek to settle the ahead of the trial by agreeing to pay 10%-20% or more of royalties to Amgen for U.S. Praluent sales. Amusa said that "such an outcome we estimate could transfer roughly $750M of operating income per year to Amgen." Further, Amusa said that catalysts surrounding the patent infringement trial are "likely to play out from late February to late March," and concedes that "both sides have good reasons to settle this case for a reasonable royalty." INCREASING COMPETITION: Amusa also noted that he sees increasing competitive risks in 2016 to Regeneron's Eylea from Novartis (NVS) and its partner Ophthotech (OPHT), which continue to progress Fovista into Phase III trials in wet AMD. WHAT'S NOTABLE: Roth Capital upgraded Regeneron to Buy from Neutral on January 19, based on valuation, as the firm said shares do not reflect the value of the company's upcoming catalysts. The firm also raised its price target to $555 from $543. The same day, Credit Suisse initiated Regeneron with a Neutral rating and $552 target. PRICE TARGET: Regeneron slipped 1.4% to $476.02 in morning trading.
10:30 EDTIPContainerboard makers sink after prices cut
The shares of containerboard makers are falling after an industry publication reported that prices in the sector had declined. Citi and Deutsche Bank responded differently to the news. Citi recommended that investors avoid the sector and downgraded two stocks in the space, International Paper (IP) and Packaging Corp. (PKG). However, Deutsche Bank kept Buy ratings on three stocks in the sector - KapStone (KS), Packaging Corp. and WestRock (WRK), predicting that containerboard makers would look to balance supply with demand. BACKGROUND: On Friday night, Pulp & Paper Week lowered its benchmark kraftliner and semichemical medium prices by $15 per ton and $20 per ton, respectively. ANALYST REACTION: Friday's news was unexpected and will probably cause cause box prices to drop, wrote Deutsche Bank analyst Debbie Jones. As a result, analysts' estimates for companies in the sector will decline, Jones stated. However, the companies will respond by taking steps to balance supply with demand, the analyst believes. Moreover, some producers will try to keep prices stable, she stated. Estimating that the price cut would cause a 3%-4% reduction in the companies' earnings before interest taxes, depreciation and amortization, Jones kept Buy ratings on Kapstone Papaer, Packaging Corp. and Westrock. Conversely, Citi anayst Anthony Pettinari downgraded International Paper and Packaging Corp. to Neutral from Buy. The decline in kraftline prices was surprising, given stronger than expected December box shipments and supply discipline by the major companies in the sector, the analyst stated. Although the recent price cuts could be a one-time event, there is a possibility that additional price decreases will follow, making the stocks unattractive, the analyst believes. PRICE ACTION: In early trading, International Paper dropped 5.4% to $34.50, Packaging Corp tumbled 8.2% to $52.90, Kapstone sank 15% to $14.82 and WestRock fell 11.5% to $33.42.
10:00 EDTMOS, IPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Eagle (AEO) downgraded to Hold from Buy at BB&T... American Express (AXP) downgraded on weak revenue outlook at Argus... Bristol-Myers (BMY) downgraded to Market Perform from Outperform at BMO Capital... Caterpillar (CAT) downgraded to Sell from Neutral at Goldman... Crestwood Equity (CEQP) downgraded to Neutral on potential distribution cut at Baird... Cummins (CMI) downgraded to Neutral from Buy at Citi... Federal Realty (FRT) downgraded to Hold from Buy at Evercore ISI... GKN PLC (GKNLY) downgraded to Neutral from Outperform at Credit Suisse... Galapagos NV (GLPG) downgraded to Neutral from Buy at GoldmanvHortonworks (HDP) downgraded to Perform from Outperform at Oppenheimer... International Flavors (IFF) downgraded on headwinds at Stifel... International Paper (IP) downgraded to Neutral from Buy at Citi... JPMorgan (JPM) downgraded to Neutral from Buy at Nomura... KapStone (KS) downgraded to Underperform from Neutral at Macquarie... Mosaic (MOS) downgraded to Neutral from Overweight at JPMorgan... NetSuite (N) downgraded to Equal Weight from Overweight at Stephens... ONEOK Partners (OKS) downgraded to Neutral at Baird... OvaScience (OVAS) downgraded to Perform from Outperform at Oppenheimer... Packaging Corp. (PKG) downgraded to Neutral from Buy at Citi... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... Power Solutions (PSIX) downgraded to Neutral from Overweight at Piper Jaffray... Raymond James (RJF) downgraded to Neutral from Buy at Nomura... Regeneron (REGN) downgraded to Sell from Neutral at Chardan... SanDisk (SNDK) downgraded to Underperform from Outperform at CLSA... Toll Brothers (TOL) downgraded to Market Perform from Outperform at JMP Securities... Twitter (TWTR) downgraded to Hold from Buy at Stifel... WPX Energy (WPX) downgraded to Sector Perform from Outperform at Iberia... WestRock (WRK) downgraded to Neutral from Buy at BofA/Merrill... Whole Foods (WFM) downgraded to Underperform from Market Perform at BMO Capital... Zurich Insurance (ZURVY) downgraded to Neutral from Outperform at Exane BNP Paribas.
09:03 EDTIPOn The Fly: Pre-market Movers
HIGHER: Tyco (TYC) and Johnson Controls (JCI), up 9% and 1%, respectively, after announcing a definitive merger agreement. Johnson Controls shareholders will own approximately 56% of the equity of the combined company, while current Tyco shareholders will own approximately 44%... SunEdison (SUNE), up 10% after the Wall Street Journal reported that the company is set to give David Einhorn's Greenlight Capital a seat on its board... Affimed Therapeutics (AFMD), up 26% after entering a clinical research collaboration in immuno-oncology with Merck (MRK). UP AFTER EARNINGS: McDonald's (MCD), up 3%... LOWER: Twitter (TWTR), down 5% after its CEO Jack Dorsey confirmed in a tweet last night that several executives are departing the company. Media reports also indicate that, as part of its shake-up, Twitter intends to bring in two new members to its board as soon as this week... OncoMed (OMED), down 38% after an independent data safety monitoring board remarked on several findings regarding futility of the company's Phase 2 ALPINE clinical trial... Medivation (MDVN), down 7% after FDA places investigational new drug application for MDV9300 on partial clinical hold... International Paper (IP), down 4.8%, Packaging Corp. (PKG), down 4.8%, WestRock (WRK), down 6%, after Pulp & Paper Week reduced January kraftliner and corrugated medium prices... Caterpillar (CAT), down 4% after Goldman cuts rating to sell... Regeneron (REGN), down 3% after downgraded at Chardan to sell. DOWN AFTER EARNINGS: Kimberly-Clark (KMB), down 2.5%.
07:50 EDTIPDeutsche sees Containerboard stocks trading 'aggressively' down
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