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Stock Market & Financial Investment News

News Breaks
June 30, 2014
09:57 EDTRESI, TMST, SFXE, RCPT, RYAM, NTAP, MBII, EVAR, KONA, IRM, IGXT, ELGX, DVA, CA, VAROn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Altisource Residential (RESI) initiated with a Neutral at Citigroup... CA Technologies (CA) initiated with a Buy at Standpoint Research... DaVita (DVA) initiated with a Buy at Jefferies... Endologix (ELGX) initiated with an Outperform at Credit Suisse... IntelGenx (IGXT) initiated with a Buy at H.C. Wainwright... Iron Mountain (IRM) resumed with an Overweight at JPMorgan... Kona Grill (KONA) initiated with a Buy at KeyBanc... Lombard Medical (EVAR) initiated with an Outperform at Credit Suisse... Marrone Bio (MBII) initiated with an Outperform at RW Baird... NetApp (NTAP) initiated with a Buy at Standpoint Research... Rayonier Advanced Materials (RYAM) initiated with a Buy at DA Davidson... Receptos (RCPT) initiated with a Buy at Nomura... SFX Entertainment (SFXE) initiated with an Overweight at Albert Fried... TimkenSteel (TMST) initiated with a Buy at Jefferies... Varian Medical (VAR) initiated with a Neutral at ISI Group... Williams Partners (WPZ) initiated with a Buy at UBS.
News For RESI;CA;DVA;ELGX;IGXT;IRM;KONA;EVAR;MBII;NTAP;RYAM;RCPT;SFXE;TMST;VAR From The Last 14 Days
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September 15, 2014
08:46 EDTIRMIron Mountain declares first quarterly distribution as a REIT of 47.5c per share
The Board of Directors of Iron Mountain Incorporated declared its first quarterly distribution as a Real Estate Investment Trust of 47.5c per share, payable on October 15 to stockholders of record on September 25. The company also declared the remaining special distribution to stockholders of $700M, or approximately $3.62 per share based on the number of shares currently outstanding, required in connection with the company’s conversion to a REIT. The Special Distribution is payable on November 4 to stockholders of record as of the close of business on September 30. In addition, subject to Board approval, the company expects to distribute its second quarterly distribution as a REIT in December, following the issuance of shares associated with the Special Distribution. The company anticipates that the per share amount of the Fourth Quarter Distribution will be approximately the same as the Third Quarter Distribution. Also, the company expects to distribute prior to December 31 a “catch-up” distribution because the company’s distributions through July were declared before the Board had determined if the company could convert to a REIT effective January 1 and were lower than they otherwise would have been if the company had been operating a REIT. The company expects total distributions in 2014, excluding the Special Distribution, to be approximately $400M of cash, in line with its previous range of $400M-$420M.
08:04 EDTSFXESFX Entertainment to acquire Monumental Productions B.V.
SFX Entertainment announced it has entered into an agreement to acquire Netherlands-based Monumental Productions B.V., producers of Awakenings Festival and other world-class techno music events under the brand Awakenings.
07:48 EDTRCPTReceptos price target raised to $75 from $58 at Credit Suisse
Credit Suisse raised Receptos' price target to $75 citing increased clarity on RPC1063's potential differentiated profile following presentation of further RADIANCE Ph II data. Share are Outperform rated.
07:41 EDTTMSTTopeka to hold a conference
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07:28 EDTVARAmerican Society for Radiation Oncology
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07:19 EDTNTAPSNIA to hold a conference
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September 12, 2014
07:22 EDTCACA, Inc management to meet with UBS
Meeting to be held in London on September 12 hosted by UBS.
September 11, 2014
08:37 EDTMBIIMarrone Bio receives patent for use of Chromobacterium
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08:03 EDTSFXESFX Entertainment acquires Plus Talent in Brazil
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07:15 EDTCACA, Inc management to meet with UBS
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September 10, 2014
16:19 EDTRCPTOn The Fly: Closing Wrap
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15:05 EDTRCPTReceptos surges after abstracts for RADIANCE trial posted
Shares of drugmaker Receptos (RCPT) are sharply higher after an abstract for the company's Phase 2 portion of its RADIANCE trial of RPC1063 in Relapsing Multiple Sclerosis, or RMS, were posted to the site of the European Committee for Treatment and Research in Multiple Sclerosis, or ECTRIMS. WHAT'S NEW: This morning, Receptos announced that data from the Phase 2 portion of RADIANCE, the company's Phase 2/3 trial of RPC1063 in RMS, will be reviewed in a late breaker oral podium presentation at MS Boston on September 13. MS Boston is a joint meeting of ECTRIMS and ACTRIMS, which is the U.S. and Canadian counterpart to ECTRIMS. ANALYST REACTION: Analysts at BMO Capital said the RADIANCE data confirm differentiation of the drug. The firm has an Outperform rating and $72 price target on the stock. Meanwhile, Leerink said that the full RADIANCE data shows a 53% annualized relapse reduction and supports a "highly differentiated safety profile" for the drug. Leerink has an Outperform rating and $60 price target on shares of Receptos. PRICE ACTION: In late afternoon trading, shares of Receptos were up $11.29, or 24%, to $58.34.
12:50 EDTRCPTReceptos to host conference call
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07:16 EDTCACA, Inc management to meet with UBS
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06:50 EDTVARVarian Medical to host investor meeting
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September 9, 2014
07:32 EDTCACA, Inc management to meet with UBS
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September 8, 2014
10:06 EDTRESIOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AIG (AIG) initiated with a Buy at Citigroup... Agilent (A) initiated with an Equal Weight at Morgan Stanley... Altisource Residential (RESI) initiated with a Neutral at JPMorgan... AngloGold (AU) initiated with an Overweight at JPMorgan... Arista Networks (ANET) initiated with an Outperform at FBN Securities... C1 Financial (BNK) initiated with a Buy at Wunderlich... Cherokee (CHKE) initiated with a Buy at Roth Capital... ContraFect (CFRXU) initiated with a Buy at Maxim... DRDGOLD (DRD) initiated with an Underweight at JPMorgan... Enable Midstream (ENBL) initiated with an Equal Weight at Morgan Stanley... Enservco (ENSV) initiated with an Outperform at Northland... GoPro (GPRO) initiated with an Outperform at FBN Securities... Gold Fields (GFI) initiated with an Overweight at JPMorgan... Gulfport Energy (GPOR) initiated with an Equal Weight at Morgan Stanley... Harmony Gold (HMY) initiated with a Neutral at JPMorgan... Illumina (ILMN) initiated with an Equal Weight at Morgan Stanley... LINN Energy (LINE) reinstated with an Outperform at Credit Suisse... LinnCo (LNCO) reinstated with an Outperform at Credit Suisse... Randgold (GOLD) initiated with a Neutral at JPMorgan... Rentrak (RENT) initiated with a Buy at Needham... Rice Energy (RICE) initiated with an Accumulate at KLR Group... SanDisk (SNDK) initiated with an Outperform at FBN Securities... Seadrill (SDRL) initiated with a Sell at Canaccord... Tesla (TSLA) initiated with an Outperform at FBN Securities... Thermo Fisher (TMO) initiated with an Overweight at Morgan Stanley... Waters (WAT) initiated with an Underweight at Morgan Stanley... Whiting Petroleum (WLL) initiated with an Equal Weight at Morgan Stanley.
09:27 EDTRCPTLeerink biotech analyst holds a luncheon meeting with a conference call
Biotech Analyst Schwartz provides an update on key trends and controversies for marketed MS therapies and discusses new data presented at ACTRIMS-ECTRIMS at a Luncheon Meeting with an Analyst/Industry conference call to be held in Boston on September 11 at 12:15 pm.
06:58 EDTRESIAltisource Residential initiated with a Neutral at JPMorgan
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September 5, 2014
08:07 EDTRESIAltisource Residential raises dividend to 55c per share from 45c per share
Altisource Residential announced that its board has declared a quarterly cash dividend of 55c per share of common stock. Residential will pay this quarterly dividend on September 30, to all stockholders of record as of the close of business on September 15. This dividend represents a 22% increase over the last quarterly dividend of 45c per share.
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