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March 21, 2013
09:05 EDTITMN, GES, AZN, ORCL, ACAD, MOV, YHOO, SCHL, TUMI, PERY, CSCOOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Perry Ellis (PERY), up 5.2%... Movado (MOV), up 2.4%... ALSO HIGHER: InterMune (ITMN), up 12.2% after health technology appraisal body in England and Wales recommends use of its Esbriet drug... ACADIA (ACAD), up 7.5% after presenting detailed results from a Phase III study of its treatment for Parkinson's disease psychosis... AstraZeneca (AZN), up 2.8% after saying it plans to restructure its SG&A activities to cut out about 2,300 jobs, announcing partnership agreement with Moderna Therapeutics... Yahoo! (YHOO), up 2% following upgrade at Oppenheimer... DOWN AFTER EARNINGS: Oracle (ORCL), down 7.6%... Guess (GES), down 6%... Tumi (TUMI), down 6%... Scholastic (SCHL), down 11.5%... ALSO LOWER: Cisco (CSCO), down 2.5%, following downgrade at FBR Capital... General Moly (GMO), down 21%, after work suspended on a $665M loan being negotiated for the development of its Mt. Hope Project.
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September 29, 2015
08:39 EDTORCLOracle Health Sciences adds 93 biopharma customers
Oracle (ORCL) Health Sciences announced that 93 emerging biopharma organizations worldwide have become new customers in the past year, adopting Oracle Health Sciences solutions to succeed in this rapidly evolving market and deliver drugs to patients faster. Organizations, including Accera and NewLink (NLNK), selected Oracle Health Sciences solutions to manage their end-to-end clinical trial processes, boost clinical development productivity, facilitate compliance, and build scalable, affordable platforms for growth.
08:07 EDTAZNAstraZeneca says Brilinta 60-mg tablets now available in U.S. pharmacies
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06:45 EDTYHOOAlibaba volatility elevated as shares trade near IPO low
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06:28 EDTYHOOYahoo volatility up, board authorized to continue to pursue the Aabaco spin-off
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September 28, 2015
19:11 EDTYHOOOn The Fly: After Hours Movers
HIGHER: Yahoo (YHOO), up 3.3% after the board authorized Yahoo to continue to pursue the Aabaco spin-off plan... Cheniere Energy (LNG), up 0.67% after Carl Icahn raised his stake in the company to 11.43%... Republic Airways (RJET), up 7.4% after the company was upgraded to Buy from Hold at Deutsche Bank... Exelon (EXC) and Pepco (POM), higher by 1% and 2.4%, respectively, after the DC Mayor's office released a statement confirming discussions of a settlement agreement with the companies. LOWER AFTER EARNINGS: SYNNEX (SNX), down 2.7% after the company reported Q3 results, gave Q4 guidance, and raised its quarterly dividend. ALSO LOWER: Zosano (ZSAN), down 52.5% after it discontinued development of its Daily ZP-PTH treatment for severe osteoporosis and terminated a collaboration agreement with Eli Lilly (LLY)... OvaScience (OVAS), down 15.9% after the company announced it doesn't expect to meet its previous 2015 goal of 1,000 Augment treatment cycles.
17:25 EDTYHOOYahoo board authorizes company to continue to pursue Aabaco spin-off plan
On September 8, Yahoo! (YHOO) filed a Current Report on Form 8-K disclosing, among other things, that the Internal Revenue Service had notified Yahoo's counsel that it had determined, in the exercise of its discretion and without ruling adversely, not to grant Yahoo's request for a private letter ruling regarding certain aspects of its previously announced plan for a spin-off to Yahoo's stockholders of all of the stock of Aabaco Holdings, a newly formed independent registered investment company, which will hold all of Yahoo's remaining holdings in Alibaba Group Holding (BABA) and Aabaco Small Business,. Yahoo further disclosed in the September 8 Form 8-K that work was proceeding on the Aabaco spin-off plan, and that Yahoo's Board of Directors would continue to carefully consider the Company's options, including proceeding with the spin-off transaction on the basis of an opinion of counsel. On September 14, the IRS issued a formal "no-rule" policy with respect to certain transactions similar to the Aabaco spin-off and, in a notice released on the same day, indicated that the IRS and U.S. Department of the Treasury are studying the possibility of promulgating new guidance with respect to such transactions in the future. Neither this ongoing guidance project nor the IRS's decision not to rule with respect to the Aabaco spin-off transaction changes the current law applicable to the proposed spin-off. In addition, on September 19, an IRS official indicated in a public statement that any future guidance issued as part of the project would not apply retroactively to transactions completed prior to the issuance of such guidance. On September 23, Yahoo's Board of Directors authorized the Company to continue to pursue the plan for the Aabaco spin-off transaction as previously disclosed, except that completion of the spin-off will not be conditioned upon receipt of a favorable ruling from the IRS. The spin-off transaction will continue to be subject to certain other conditions, including final approval by Yahoo's Board of Directors, receipt of a legal opinion with respect to the tax-free treatment of the transaction under U.S. federal tax laws and regulations, the effectiveness of an applicable registration statement filed with the Securities and Exchange Commission and compliance with the requirements under the Investment Company Act of 1940, and other customary conditions, each of which conditions may be waived, in whole or in part , by Yahoo in its sole discretion.Completion of the transaction is expected to occur in the fourth quarter of 2015, subject to the conditions described above.
09:06 EDTYHOOCiti sees 'few if any' roadblocks for Yahoo's Alibaba spin
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08:06 EDTYHOOYahoo announces updates to advertising technology portfolio
Yahoo announced key updates to its advertising technology portfolio at Advertising Week in New York: BrightRoll is Yahoo's new, unified brand for programmatic advertising technology, offering a suite of media-agnostic tools to help advertisers, publishers and partners connect with consumers across ad formats and devices. Yahoo Gemini, the company's proprietary marketplace for search and native advertising across devices, introducing new product features and the Yahoo Preferred Partner Program. Over the past year the company has focused heavily on product development, and is bringing together the strengths of Yahoo, BrightRoll and Flurry to build a robust technology offering that simplifies the overall experience of digital advertising and drives measurable results for advertisers.
07:52 EDTAZNIIR Holdings to hold a conference
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07:38 EDTCSCOBox to hold a user conference
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September 27, 2015
14:04 EDTCSCOCybersecurity firms look prime for takeover, Barron's says
Cybersecurity companies like Palo Alto Networks (PANW), Fortinet (FTNT), and FireEye (FEYE) are becoming increasingly-attractive takeover targets for a Cisco (CSCO) or IBM (IBM), and any future dip in their stocks could represent a buying opportunity, Barron's contends in its 'Technology Trader' column. Reference Link
September 25, 2015
16:35 EDTCSCOStocks end week lower as biotechs sink, Volkswagen crashes
Stocks ended the week lower after concerns about drug prices were reignited, sinking biotech stocks, an emissions scandal engulfed Volkswagen (VLKAY), dragging down shares of automakers and their suppliers, and Caterpillar (CAT) announced that it may eliminate as many as 10,000 jobs in the next three years as commodity prices continue to slump. MACRO NEWS: Following the Federal Reserve's decision last week to wait before raising rates, the central bank made a concerted effort to give the market more clarity this week. Over last weekend, three Federal Reserve officials - San Francisco Fed President John Williams, St. Louis Fed President James Bullard and Richmond Fed President Jeffrey Lacker - all argued that an interest-rate increase is still warranted this year. Then, on Thursday night, Fed Chair Janet Yellen said during a speech at UMass Amherst that the central bank remains inclined to hike rates this year. Yellen's remarks were incrementally hawkish, but welcomed by the market, since they helped clarify the message the Fed delivered a week ago... In the U.S., Markit's flash manufacturing purchasing manager's index was flat at 53.0 in September, which was slightly better than the expectation for it to dip to 52.8. Durable goods orders for August declined 2.0%, versus expectations for a drop of 2.3%. When transportation items were removed, the core reading was breakeven, versus expectations for a rise of 0.1%. The third estimate of second quarter GDP showed the economy grew 3.9% quarter-over-quarter, versus expectations for the GDP growth estimate to stay at 3.7%. Personal consumption in Q2 is now believed to have grown 3.6%, up from the prior estimate of 3.1%. The final University of Michigan consumer sentiment reading for September came in at 87.2, which was down from August's 91.9 but above the expected 86.2 reading... The Asian Development Bank cut its growth forecast for the region, citing a weaker outlook for China and India and a delayed recovery in the world's advanced economies. The bank now sees the Chinese economy growing 6.8% this year and 6.7% next year, down from its previous forecasts of 7.2% and 7%, respectively. Markit's flash manufacturing PMI for China fell to 47.0 in September from 47.3 last month. Meanwhile, Japanese Prime Minister Shinzo Abe unveiled new economic targets, including a goal for a 20% increase in the target size of the Japanese economy to 600T yen, though he gave no timeframe for achieving this aspiration... In Europe, Markit's composite PMI for the eurozone came in at 53.9 in the first look for September, down from 54.3 in August and below expectations for a reading of 54.1. COMPANY NEWS: Biotech stocks declined after privately-held Turing Pharmaceuticals made headlines by enacting a 5,000% price increase on its treatment for toxoplasmosis, reigniting a debate around drug prices that previously embroiled costly Hepatitis C drugs including AbbVie's (ABBV) Viekira Pak and Gilead's (GILD) Sovaldi and Harvoni. Presidential candidate Hillary Clinton sent the debate to center stage by criticizing the "outrageous" prices of specialty drugs and laying out a plan to tackle "price gouging" in the specialty drug market. The NASDAQ Biotechnology index fell roughly xxx% for the week amid the attention paid to Turing's drug and Clinton's response... Volkswagen (VLKAY) shares trading in New York fell sharply to begin the week and ended the week far from where they'd been last Friday before the EPA said it found manipulations that violate U.S. environmental standards while testing certain of the automaker's diesel cars. The EPA said Volkswagen may face civil penalties of $37,500 for each vehicle not in compliance with federal clean air rules, which could total as much as $18B, according to Reuters. In the wake of the scandal, Chief Executive Officer Martin Winterkorn resigned, with the company's supervisory board subsequently praising the decision and selecting Matthias Mueller, the former head of Porsche (POAHY), as Winterkorn's successor as the company's new CEO... Caterpillar (CAT) shares dropped after the heavy machinery maker announced plans for job cuts and lowered its revenue guidance for this year and next. Caterpillar said that it would lay off 4,000-5,000 of its employees between now and the end of 2016 and could lay off up to 10,000 employees by 2018. Caterpillar cut its fiscal year 2015 revenue forecast by $1B and said its sees its fiscal year 2016 revenue to be 5% below this year, adding that it expects revenue declines in all three large segments next year... Online and mobile deal provider Groupon (GRPN) said it plans to cut 1,100 jobs relating primarily to the company's international operations... Nike jumped after the athletic gear giant reported better than expected earnings and futures orders, prompting numerous price target hikes and at least one upgrade at Street research firms. Among other companies reporting earnings this week, BlackBerry (BBRY), ConAgra (CAG), Carnival (CCL), and CarMax (KMX) fell immediately following their quarterly reports... Apple (AAPL), which has previously been reported to be working on an electric car via its "Project Titan," is speeding up those efforts and setting 2019 as a target to ship its first vehicle, according to The Wall Street Journal... Against the backdrop of China's President Xi Jinping visiting the U.S., Boeing (BA) announced deals to sell 300 planes to three Chinese companies and set up an aircraft factory in in the Asian nation, while Cisco (CSCO) announced a partnership with Chinese server maker Inspur Group... Lloyd Blankfein, Goldman Sachs (GS) Chairman and CEO, disclosed that he was diagnosed with lymphoma. "Fortunately, my form of lymphoma is highly curable and my doctors' and my own expectation is that I will be cured," Blankfein stated in an open letter that was shared by the bank... GoPro (GPRO) finished the week about xxx% lower after Barron's contended in a feature article last weekend that the company's stock could plunge another 30% to $25 as Apple, Sony (SNE) and others pressure the company's "one-hit wonder" products... On the M&A front, Atmel (ATML) agreed to be acquired by German chipmaker Dialog Semiconductor in a deal valued at roughly $4.6B and Starwood Waypoint (SWAY) announced a stock-for-stock merger agreement with Colony American Homes. INDEXES: The Dow lost about 0.43% to close at 16,314.67, the S&P 500 fell about 1.35% to close at 1,931.34, and the Nasdaq declined about 2.89% to close at 4,686.50.
11:07 EDTYHOOStocks with call strike movement; BABA YHOO
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09:12 EDTACADLeerink biotech analyst holds an analyst/industry conference call
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08:19 EDTCSCOCisco weakness creates buying opportunity, says Bernstein
After meeting with Cisco's CEO, Bernstein says that the company continues to perform in-line with the firm's upbeat outlook. Bernstein says that beairsh views on the company's SDN and Hyperscale businesses "continue to be proved wrong." The firm reiterates an Outperform rating on the shares.
07:22 EDTAZNEuropean Society for Medical Oncology to hold a conference
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September 24, 2015
12:37 EDTYHOOYahoo reports total government data requests 15,583 from January 1-June 30
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07:45 EDTCSCOCisco CEO confirms Inspur joint venture in China
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07:03 EDTSCHLScholastic reports Q1 Children's Book Publishing and Distribution revenue $68.1M
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07:02 EDTSCHLScholastic reports Q1 EPS ($1.48), one estimate ($1.51)
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