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June 26, 2014
10:23 EDTSWHC, APOL, UNXL, OHRP, RMTI, NWBO, ACHN, MTOR, SBGI, VRTXOptions with decreasing implied volatility
Options with decreasing implied volatility: OHRP VRTX ACHN UNXL SBGI NWBO APOL MTOR RMTI SWHC
News For OHRP;VRTX;ACHN;UNXL;SBGI;NWBO;APOL;MTOR;RMTI;SWHC From The Last 14 Days
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February 8, 2016
07:03 EDTAPOLApollo Global consortium to acquire Apollo Education for $9.50 per share
Apollo Education Group (APOL) announced it has entered into a definitive agreement to be acquired by a consortium of investors including The Vistria Group, funds affiliated with Apollo Global Management (APO), and Najafi Companies for $9.50 per share in cash for both Class A and B shares. The purchase price represents a premium of 30% over Apollo Education Group's 30-day volume weighted average stock price for the period ended Feb. 5, and a 44% premium over the closing price on Jan. 8, immediately prior to the announcement that the Board of Directors was pursuing strategic alternatives. Tony Miller, Chief Operating Officer and Partner of The Vistria Group and former Deputy Secretary of the U.S. Department of Education, will become Chairman of the Apollo Education Group Board upon transaction close. Upon completion of the transaction, Apollo Education Group will be privately held and its affiliated institutions will remain subject to the same U.S. and international regulations and accreditation standards. The agreement was approved by Apollo Education Group's Board of Directors. The acquisition is expected to be completed by Apollo Education Group's fiscal year-end, in August 2016. Apollo Education Group and Apollo Global Management are unaffiliated entities.
07:00 EDTAPOLApollo Education to be aquired by group led by Apollo Global for $9.50 per share
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February 7, 2016
20:36 EDTAPOLOn The Fly: Top five weekend stock stories
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Ford (F) plans to build a new assembly plant in Mexico and expand its existing factory near Mexico City, sharply increasing production capacity in the country as it looks to focus its U.S. efforts on trucks and SUVs, the Wall Street Journal reported. 2. GoPro (GPRO) and Microsoft (MSFT) signed a patent licensing agreement late Friday, lifting shares of the action camera maker in after-hours trading. 3. Media reports indicate Twitter (TWTR) could be rethinking its news feed, potentially ordering posts based on popularity rather than chronological date. 4. Apollo Education (APOL) received a second investigative subpoena from California's attorney general related to the marketing, recruiting, accreditation, and other aspects of its for-profit schools. 5. Celgene (CELG), Gilead (GILD), Thermo Fisher (TMO) and Vantiv (VNTV) were mentioned positively by Barron's this weekend, while Church & Dwight (CHD) was called overvalued and GoPro was identified as a possible takeover target by Under Armour (UA) or Sony (SNE).
February 5, 2016
17:11 EDTAPOLApollo Education receives second investigative subpoena
On February 4, we received a Second Investigative Subpoena from the Office of the Attorney General of the State of California in the Matter of the Investigation of For-Profit Educational Institutions, following the Investigative Subpoena we received in August 2015. The Second Investigative Subpoena seeks the production of documents and information regarding a broad spectrum of the business and practices of Apollo Education Group, and each of our subsidiaries, including University of Phoenix, Inc., relating to marketing, recruiting, compensation of enrollment advisors, complaints, financial aid, compliance, accreditation, other governmental investigations, private litigation and other matters, as well as additional information relating to marketing and services to members and former members of the U.S. military and California National Guard, for the time period of July 1, 2010 to the present. We are cooperating with the Attorney General in this investigation. We cannot predict the eventual scope, duration or outcome of the investigation at this time.
12:12 EDTVRTXOn The Fly: Top stock stories at midday
Stocks began the day lower and have seen little in the way of buying since the open. As the market digested the monthly jobs data and watched the price of oil turn negative, the selling that had taken a two day break was renewed. The Nasdaq is the biggest loser, falling over 2%, while the Dow is down about 1%. ECONOMIC EVENTS: In the U.S., nonfarm payrolls rose 151,000 in January, versus expectations for an increase of 190,000. The unemployment rate fell to 4.9%, versus expectations for it to stay at 5.0%. Average hourly earnings climbed 0.5% month-over-month, versus the consensus forecast for them to rise 0.3%. The trade deficit widened 2.7% to $43.4B in December, as exports dipped 0.3% and imports rose 0.3%. A report on Consumer Credit growth in December is due out at 3 pm ET. COMPANY NEWS: The shares of LinkedIn (LNKD) plunged 40% after the professional network reported stronger than expected fourth quarter results, but its 2016 guidance came in significantly below expectations. At least nine Wall Street research firms responded to the guidance miss by downgrading the stock... Also tumbling in the wake of its quarterly report was "Big Data" software provider Tableau (DATA), which fell 47% after its full-year guidance came in significantly below expectations. Tableau blamed its guidance miss on weaker IT spending trends, as well as competition, and a number of other companies that sell software to businesses also fell following its report, including peer Splunk (SPLK), NetSuite (N), Salesforce (CRM) and Workday (WDAY). MAJOR MOVERS: Among the notable gainers was Cempra (CEMP), which gained about 5% after it said that its solithromycin drug met primary and secondary objectives in its Phase 3 study. Also higher were Tyson Foods (TSN) and Post Holdings (POST), which gained 10% and 11.5%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Vertex (VRTX), which fell 5% after the FDA said that it cannot currently approve a label expansion for Kalydeco in children with residual function mutations. Also lower were Lion's Gate (LGF), YRC Worldwide (YRCW), and Redbox-parent Outerwall (OUTR), which were down 33%, 30%, and 17%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was down 171.21, or 1.04%, to 16,245.37, the Nasdaq was down 110.39, or 2.45%, to 4,399.17, and the S&P 500 was down 27.10, or 1.41%, to 1,888.35.
10:31 EDTVRTXVertex complete response letter a minor setback, says Leerink
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10:21 EDTVRTXVertex selloff more than accounts for Kalydeco news, says Piper Jaffray
Piper Jaffray analyst Edward Tenthoff said the "dramatic" selloff in Vertex after the FDA said that it cannot currently approve a label expansion for Kalydeco in children with residual function mutations more than accounts for the missed revenue opportunity. The analyst keeps on Overweight rating on Vertex shares, citing the upcoming launch of Orkambi in the U.S. and expectations for the company to return to sustainable profitability. Vertex shares are down 2.5% in early trading to $89.47.
09:26 EDTVRTXLeerink biotech analyst holds an analyst/industry conference call
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08:03 EDTVRTXVertex says FDA determined it can't approve KALYDECO NDA in present form
Vertex Pharmaceuticals announced that it received a Complete Response Letter from the U.S. Food and Drug Administration for its supplemental New Drug Application for the use of KALYDECO in people with cystic fibrosis ages 2 and older who have one of 23 residual function mutations in the cystic fibrosis transmembrane conductance regulator gene. The FDA determined that it cannot approve the application in its present form. Vertex plans to meet with the FDA to determine an appropriate path forward. Our intention with this submission was to rapidly bring KALYDECO to additional people with CF who we believe may benefit," said Vertex Executive Vice President and Chief Medical Officer, Jeffrey Chodakewitz, M.D. "We chose to pursue this approach given our strong belief in the science of CF and in the well-established safety of KALYDECO across many different groups of people with CF. We are disappointed by this decision and look forward to discussing with the FDA the next steps to bring KALYDECO to people with CF who have these residual function mutations."
06:06 EDTVRTXVertex resumed with an Outperform at Leerink
Leerink analyst Geoffrey Porges resumed coverage of Vertex Pharmaceuticals with an Outperform rating and $131 price target.
February 4, 2016
19:16 EDTVRTXVertex reinitiated with an Outperform at Leerink
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February 3, 2016
08:04 EDTMTORMeritor cuts FY16 adjusted EPS to $1.65-$1.75 from $1.70-$1.80, consensus $1.72
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08:03 EDTMTORMeritor reports Q1 Commercial Truck & Industrial sales $633M
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08:02 EDTMTORMeritor reports Q1 adjusted EPS 33c, consensus 37c
Reports Q1 revenue $809M, consensus $845.94M. The decrease in sales was driven by the effect of foreign exchange translation in Europe and Brazil and weak economic conditions in South America.
February 1, 2016
10:00 EDTVRTXOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Air Products (APD) upgraded to Buy from Neutral at UBS... American Airlines (AAL) upgraded to Outperform from Market Perform at Cowen... Axiall (AXLL) upgraded to Overweight from Neutral at JPMorgan... BASF (BASFY) upgraded to Buy from Hold at Societe Generale... CNH Industrial (CNHI) upgraded to Neutral from Underperform at BofA/Merrill... CU Bancorp (CUNB) upgraded to Outperform from Market Perform at Fig Partners... CaixaBank (CAIXY) upgraded to Hold from Sell at Societe Generale... Chipotle (CMG) upgraded to Neutral from Underperform at BofA/Merrill... Concho Resources (CXO) upgraded to Buy from Neutral at SunTrust... Continental Building (CBPX) upgraded to Buy from Hold at BB&T... Eastman Chemical (EMN) upgraded to Buy from Outperform at CLSA... Extreme Networks (EXTR) upgraded to Buy from Hold at Needham... Glacier Bancorp (GBCI) upgraded to Outperform from Market Perform at Fig Partners... IBERIABANK (IBKC) upgraded to Strong Buy from Outperform at Raymond James... Infineon (IFNNY) upgraded to Buy from Neutral at UBS... Jarden (JAH) upgraded to Outperform from Market Perform at Raymond James... Joy Global (JOY) upgraded to Overweight from Equal Weight at Barclays... KT Corporation (KT) upgraded to Overweight from Neutral at JPMorgan... Kennametal (KMT) upgraded to Neutral from Underperform at BofA/Merrill... L-3 Communications (LLL) upgraded to Buy on valuation at BofA/Merrill... Maximus (MMS) upgraded to Outperform from Market Perform at Raymond James... Micron (MU) upgraded to Neutral from Sell at Goldman... Monster Beverage (MNST) upgraded to Outperform from Market Perform at Wells Fargo... Newell Rubbermaid (NWL) upgraded to Outperform from Market Perform at Raymond James... Northrop Grumman (NOC) upgraded to Buy from Neutral at BofA/Merrill... PTC (PTC) upgraded to Buy from Neutral at Sterne Agee CRT... Peoples Bancorp (PEBO) upgraded to Outperform from Neutral at Boenning & Scattergood... Praxair (PX) upgraded to Buy from Neutral at UBS... Proofpoint (PFPT) upgraded to Outperform from In-Line at Imperial Capital... Seagate (STX) upgraded to Hold from Sell at Benchmark... Siemens (SIEGY) upgraded to Buy from Neutral at Nomura... Superior Drilling (SDPI) upgraded to Buy from Hold at Wunderlich... Vertex (VRTX) upgraded to Buy from Hold at Jefferies... Werner (WERN) upgraded to Strong Buy from Outperform at Raymond James... ZAIS Financial (ZFC) upgraded to Overweight from Equal Weight at Barclays.
06:09 EDTVRTXVertex upgraded to Buy from Hold at Jefferies
Jefferies analyst Brian Abrahams upgraded Vertex Pharmaceuticals to Buy saying current share levels provide a good long-term entry point. In the low $90s, the stock reflects an "excessively cautious" case on future label expansions for Orkambi, Abrahams tells investors in a research note. He continues to believe in Vertex's long-term cystic fibrosis sales opportunity. The analyst cut his price target for the shares to $120 from $142. The biotechnology company closed Friday down $2.01 to $90.75.
January 29, 2016
09:34 EDTACHNAchillion downgraded to Market Perform from Outperform at Leerink
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08:49 EDTAPOLApollo Education investor pushes board to reconsider sale, Bloomberg says
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January 28, 2016
07:45 EDTSBGISinclair Broadcast to hold a conference call
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05:59 EDTVRTXVertex price target lowered to $143 from $180 at Piper Jaffray
Piper Jaffray analyst Edward Tenthoff lowered his price target for Vertex Pharmaceuticals to $143 to reflect reduced cystic fibrosis sales assumptions following the company's Q4 results. The analyst says there is "no surprises" in Vertex's quarter and keeps an Overweight rating on the name.
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