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Stock Market & Financial Investment News

News Breaks
June 25, 2014
10:59 EDTRHT, MTOR, ARWR, SWHC, PIR, VRTX, JBL, BBRY, SBGI, OHRPOptions with decreasing implied volatility
Options with decreasing implied volatility: OHRP VRTX ARWR SBGI PIR MTOR BBRY SWHC RHT JBL
News For OHRP;VRTX;ARWR;SBGI;PIR;MTOR;BBRY;SWHC;RHT;JBL From The Last 14 Days
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February 5, 2016
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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10:00 EDTRHTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADTRAN (ADTN) upgraded to Market Perform from Underperform at Cowen... Alpha & Omega (AOSL) upgraded to Outperform from Market Perform at Northland... Ambarella (AMBA) upgraded to Buy from Neutral at Dougherty... ArcBest (ARCB) upgraded on valuation at Stifel... Arlington Asset Investment (AI) upgraded to Buy from Neutral at Ladenburg... Atwood Oceanics (ATW) upgraded to Accumulate from Hold at KLR Group... Buffalo Wild Wings (BWLD) upgraded to Outperform from Market Perform at Raymond James... C.H. Robinson (CHRW) upgraded to Outperform from Market Perform at Raymond James... CDK Global (CDK) upgraded to Outperform from Market Perform at Barrington... Cadence Design (CDNS) upgraded on valuation, guidance at DA Davidson... China Unicom (CHU) upgraded to Buy from Hold at HSBC... Cloud Peak (CLD) upgraded to Market Perform from Underperform at FBR Capital... Cree (CREE) upgraded to Outperform from Market Perform at Northland... CrossAmerica (CAPL) upgraded to Outperform from Neutral at Baird... Hub Group (HUBG) upgraded on results at Stifel... Kennametal (KMT) upgraded to Neutral from Underperform at Longbow... Lannett (LCI) upgraded to Buy from Hold at Craig-Hallum... Lowe's (LOW) upgraded to Conviction Buy from Buy at Goldman... Mattel (MAT) upgraded to Buy from Sell at Argus... New Oriental Education (EDU) upgraded to Buy from Neutral at Mizuho... Olin Corp. (OLN) upgraded to Buy from Neutral at Monness Crespi... RONA (RONAF) upgraded to Equal Weight from Underweight at Barclays... Red Hat (RHT) upgraded to Outperform from Market Perform at Cowen... Wayfair (W) upgraded to Buy from Neutral at Goldman... Whirlpool (WHR) upgraded to Buy from Neutral at Goldman... Yahoo (YHOO) upgraded to Buy from Neutral at Citi... Zumiez (ZUMZ) upgraded to Buy from Hold at Brean Capital... adidas (ADDYY) upgraded to Buy from Neutral at Goldman.
06:57 EDTRHTRed Hat upgraded to Outperform from Market Perform at Cowen
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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 2, 2016
12:10 EDTRHTRed Hat management to meet with William Blair
Field trip to company headquarters to be held in Raleigh, NC on February 8 hosted by William Blair.
08:47 EDTBBRYBlackBerry initiated with a Buy at TD Securities
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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.
08:50 EDTRHTRed Hat management to meet with JPMorgan
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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
14:10 EDTPIRWells Fargo reports 8.01% passive stake in Pier 1 Imports
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09:02 EDTBBRYBlackBerry raises common share purchase program to 27M shares form 12M shares
BlackBerry announced that it received approval from the Toronto Stock Exchange to amend its current normal course issuer bid, or NCIB, in order to increase the maximum number of common shares that may be repurchased from 12M common shares, or 2.5% of the public float as at June 22, 2015, to 27M common shares, or 5.8% of the public float. The total public float on June 22, 2015 was 464.72M common shares. No other terms of the NCIB have been amended. BlackBerry also announced that it has entered into an automatic purchase plan with its designated broker to allow for purchases of up to 2.69M common shares in connection with the NCIB.
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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