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Stock Market & Financial Investment News

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June 13, 2014
11:37 EDTGPI, MHFI, OPEN, EXPR, TSRA, REY, GES, SYY, ARWRHigh option volume stocks
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October 5, 2015
09:30 EDTTSRATessera should be bought on any Barron's weakness, says Barrington
Barrington analyst Ted Moreau recommends buying shares of Tessera Technologies on any near-term weakness following Barron's cautious article on the company. The article indicates that most of Tessera's revenue growth over the past few years has come from settling patent disputes instead of licensing customers, Moreau tells investors in a research note. However, Moreau says his understanding is that settlements have resulted in less than half of the company's revenue growth. Further, new management has done an "excellent job" of steering the company away from being a patent troll, the analyst argues. He reiterates an Outperform rating on Tessera with a $47 price target.
October 4, 2015
13:00 EDTTSRATessera revenue model looks questionable, Barron's says
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September 30, 2015
10:52 EDTARWROptions with decreasing implied volatility
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September 29, 2015
10:58 EDTTSRATessera management to meet with Sidoti
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10:20 EDTARWROptions with decreasing implied volatility: ARWR RJET MWE
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06:37 EDTMHFIInvestors feel burn of big M&A deals, WSJ reports
Some investors are getting burned by large acquisitions, the Wall Street Journal reports. The rise in stock prices as a result of the M&A boom over the past few years have had the twin effect of emboldening other buyers and increasing the value of shares that are often used as currency, the report says. Since July 1, buyers' share prices fell about 0.6% on average on the first day of trading following the announcement of an M&A deal over $1B, the report says, citing data provider Dealogic. For example, Energy Transfer Equity's (ETE) stock dropped nearly 13% after news of its $32.6B proposal to take over Williams Companies (WMB), with Centene (CNC), McGraw Hill Financial (MHFI), and Dialog all also falling after M&A news, the report says. Reference Link
September 28, 2015
17:04 EDTSYYSysco announces $1.5B accelerated share repurchase program
Sysco announced that it has entered into accelerated share repurchase agreements to repurchase an aggregate of $1.5B of the company's common stock with an initial delivery of approximately 32M shares based on current market prices. The ASR is part of Sysco's $3B share repurchase program previously authorized by its board of directors and announced on June 29. Purchases under the ASR are expected to be completed by May 2016.
11:59 EDTGPIGroup 1 Automotive acquires Mercedes dealership near Austin
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10:14 EDTARWROptions with decreasing implied volatility
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September 25, 2015
11:00 EDTSYYSysco management to meet with Jefferies
Meeting to be held in Boston on October 2 hosted by Jefferies.
10:53 EDTARWROptions with decreasing implied volatility
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05:57 EDTARWRArrowhead price target raised to $20 from $12 at Piper Jaffray
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September 24, 2015
13:19 EDTARWROn The Fly: Top stock stories at midday
Stocks on Wall Street were sharply lower at midday, with each of the major indexes down more than 1%. Continued weakness in Asia and a lack of clarity regarding the Fed's rate decision last week has kept buyers on the sidelines while the sellers have had their way. Lowered guidance from Dow component Caterpillar (CAT) has weighed on the market in addition to some economic data points that were below expectations. ECONOMIC EVENTS: In the U.S., initial jobless claims were 267,000, versus expectations for 272,000 first-time claims. 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 Chicago Fed National Activity Index had a reading of -0.41, versus expectations of +0.24. New home sales jumped 5.7% in August to a 552,000 rate, versus expectations for a rise of 1.6% to a 515,000 rate. In Asia, Japan's stock market reopened for the first time since Friday and the Nikkei suffered a nearly 3% decline as it caught up to other global market trends in the week-to-date. The slide came despite Japanese Prime Minister Shinzo Abe unveiling 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. Elsewhere, Norway and Taiwan both cut interest rates this morning. The Norges Bank lowered rates by 25 basis points to 0.75%, while Taiwan cut its benchmark by 12.5 basis points to 1.75% in the nation's first lowering of rates since 2009. COMPANY NEWS: A slide in shares of Caterpillar weighed on the Dow Jones Industrial Average 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. Before the news was announced, research firm Axiom initiated coverage of Caterpillar with a Sell rating and $28 price target, which its shares were 5.7% closer to at midday following their swoon. Other mining and agriculture equipment makers, including Joy Global and Deere (DE), were also weaker following the Dow member's announcement. MAJOR MOVERS: Among the notable gainers was Arrowhead Research (ARWR), which rose 18% after disclosing top-line findings from the Heparc-2001 Phase 2a clinical study of ARC-520, its candidate for the treatment of chronic hepatitis B infection. Also higher was Hudson City Bancorp (HCBK), the parent company of Hudson City Savings Bank, which gained 3% after the bank, the Justice Department and CFPB reached a settlement to resolve allegations that the bank engaged in a pattern or practice of "redlining" predominantly Black and Hispanic neighborhoods in its residential mortgage lending practices. Notably, settling the allegations may pave the way for the bank to close out a proposed merger with M&T Bank (MTB). Among the noteworthy losers was Sientra (SIEN), which dropped 42% after disclosing that the U.K.'s Medicines and Healthcare products Regulatory Agency announced the suspension of the CE certificate for all medical devices made by Silimed, the company's contract manufacturer. Also lower were shares of Twitter (TWTR), which slid 4% after Citi cut its estimates below consensus and lowered its price target on the microblog service operator to $30. INDEXES: Near midday, the Dow was down 186.90, or 1.15%, to 16,092.99, the Nasdaq was down 56.64, or 1.19%, to 4,696.10, and the S&P 500 was down 20.18, or 1.04%, to 1,918.58.
09:05 EDTARWROn The Fly: Pre-market Movers
HIGHER: Arrowhead Research (ARWR), up 35% after disclosing top-line findings from the Heparc-2001 Phase 2a clinical study of ARC-520, its candidate for the treatment of chronic hepatitis B infection... Conatus Pharmaceuticals (CNAT), up 19% after the company's Phase 2 Portal Hypertension clinical trial of emricasan met its primary endpoints... Keryx Biopharmaceuticals (KERX), up 13% after announcing that the European Commission has approved Fexeric for the control of elevated serum phosphorus levels, or hyperphosphatemia, in adults with chronic kidney disease. LOWER: Caterpillar (CAT), down 5% after announcing restructuring plans, lowering revenue guidance, and having stock initiated with a Sell rating and a $28 price target at Axiom... Twitter (TWTR), down 1.5% after Citi cut estimates below consensus and lowered its price target to $30. DOWN AFTER EARNINGS: Worthington (WOR), down 12.5%... Accenture (ACN), down 3%.
07:35 EDTARWRArrowhead reports peak reduction in HBsAG after single dose with ARC-520
Arrowhead Research Corporation is hosting an analyst day today in New York, with a presentation starting at 11:00 a.m. EDT to discuss top-line findings from the Heparc-2001 Phase 2a clinical study of ARC-520, its candidate for the treatment of chronic hepatitis B infection. Additionally, the company will discuss findings from a study of 9 chimpanzees that have been treated monthly with ARC-520 for between 6 and 11 months with a background therapy of nucleotide/nucleoside analog inhibitors tenofovir and/or entecavir. HBV E-antigen positive patients on a background of chronic entecavir receiving a 4 mg/kg single-dose of ARC-520 showed a mean maximal 92% reduction in circulating HBeAg and a best reduction of 98%. Similar mean maximal reductions were also demonstrated in HBV core-related antigen from both HBeAg-negative and -positive patients. ARC-520 is designed to silence all gene products expressed by HBV cccDNA, so this data suggests that it may be substantially disrupting additional viral functions. In a cohort of NUC-naive, HBeAg-positive patients, best peak HBsAg reduction has been 99% and the mean maximum HBsAg reduction has been 1.05 log through 15 days post ARC-520 treatment. This open-label cohort is fully enrolled; data collection is ongoing and will be continued through Day 85 post ARC-520 treatment. These reductions are substantially higher than results from NUC treatment-experienced cohorts.

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