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January 3, 2013
19:23 EDTCSTR, ROVI, SHLM, PRGS, SIRI, ARAY, SONC, LMCAOn The Fly: After Hours Movers
UP AFTER EARNINGS: A. Schulman (SHLM), up 3.44% after earnings, reaffirming guidance... HIGHER: Liberty Media (LMCA), up 1% after announcing it had received FCC approval to take control of Sirius XM (SIRI). Shares of Sirius also gained 2.2% in after hours trading... Rovi (ROVI), up 4.7% after announcing it will sell its entertainment business unit and narrowed its FY12 adjusted EPS range... DOWN AFTER EARNINGS: Sonic (SONC), down 4.7%... Progress Software (PRGS), down 4%... ALSO LOWER: Coinstar (CSTR), down 2.7% after announcing its CEO would retire in March and saying it sees Q4, FY12 EPS at or above high end of previous range... Accuray (ARAY), down 20% after providing FY13 EPS and revenue guidance below Street estimates.
Check below for free stories on SHLM;LMCA;SIRI;ROVI;SONC;PRGS;CSTR;ARAY the last two weeks.
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April 10, 2014
07:40 EDTSHLMA. Schulman to host investor day
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April 9, 2014
13:45 EDTLMCABarnes & Noble rises after report says Nook spin may now be more feasible
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06:07 EDTROVIRovi sell-off on patent ruling unwarranted, says Brean Capital
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06:01 EDTROVIRovi sell-off on patent ruling a buying opportunity, says Piper Jaffray
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April 8, 2014
16:21 EDTROVIOn The Fly: Closing Wrap
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15:02 EDTROVIRovi issues statement in response to court ruling in Amazon case
The U.S. Court of Appeals issued its decision in Roviís (ROVI) patent infringement litigation against Amazon (AMZN). Rovi had sued Amazon for infringing the two patents at issue in the decision. The appeals court sided with Amazon and found that the District Courtís interpretation of the claims of the patents was correct and therefore Amazon did not infringe these patents. "We are disappointed by this decision," said Rovi executive VP Samir Armaly, worldwide intellectual property and licensing. "It should be noted that this decision relates to only two patents in our extensive portfolio. We believe that our portfolio is even more relevant to Amazon today and going-forward than when the present litigation began in early 2011. Since that time, Amazon has continued to expand its video and over-the-top offerings through new products like the recently announced Fire TV. As illustrated by various recent agreements, Roviís patent portfolio continues to be recognized by leading companies looking to deliver compelling video experiences across multiple screens. We plan to continue to pursue Amazon going-forward to take the necessary licenses under our patent portfolio, not only to protect our rights but also the rights of our existing licensees in this space."
13:24 EDTROVIRovi weakenss a buying opportunity, says B. Riley
B. Riley said Rovi (ROVI) weakness related to the Amazon patent case is overdone and that the patents in question are old.
11:48 EDTROVIRovi down over 7% after appeals court ruling with Amazon
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11:25 EDTROVIAppeals court upholds ruling that Amazon did not infringe Rovi patents
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11:07 EDTROVICourt rules did not infringe on Rovi patent, Bloomberg says
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08:32 EDTSHLMA. Schulman board authorizes $55M stock buyback program
The new Program replaces the Company's previous share repurchase program, which was authorized on April 1, 2011, and expired March 31. Under the previous program, shares valued at $55.5m remained authorized for repurchase.
April 7, 2014
16:52 EDTSHLMA. Schulman up over 6% to $38.61 following results, increased FY14 guidance
16:38 EDTSHLMA. Schulman raises FY14 adjusted EPS to $2.23-$2.28 from $2.08-$2.13
Consensus $2.16. Joseph M. Gingo, chairman, president and CEO, said, "Driven by the trend of our positive European results, the continuation of relatively stable raw material pricing and modest global economic growth, we have raised our expectations for 2014 adjusted net income to a range of $2.23-$2.28 per diluted share, which would represent an approximately 25% increase over the prior-year results using the high-end of this range."
16:36 EDTSHLMA. Schulman reports Q2 EPS ex-items 39c, consensus 33c
Reports Q2 revenue $588.51M, one estimate $575M. Bernard Rzepka, COO, stated, "I am very pleased that our European team has been able to capitalize on strengthening demand, especially in the automotive and electronics & electrical markets. In the Americas, I am encouraged that organic net sales in the region remained consistent with the prior year despite an 8.2% drop in organic volume and negative foreign currency headwinds in Latin America. Volume was, of course, impacted by the severe winter weather in the U.S., but also by the company's continuous strategy to reduce less-profitable commodity sales. In Asia Pacific, or APAC, the addition of our Perrite Group's Malaysian facility has led to significant growth and provides us with solid engineered plastics operations in Southeast Asia. Additionally, we are seeing organic growth across all product families in the region, as well as a stabilization of gross margins on a sequential basis. APAC is a key strategic market for us, and we are pleased with our progress in the region."
15:11 EDTSHLMNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include A. Schulman (SHLM), consensus 33c; Team, Inc. (TISI), consensus 0c; Zep, Inc. (ZEP), consensus 8c.
April 4, 2014
10:02 EDTSONCOn The Fly: Analyst Downgrade Summary
Antero Resources (AR) downgraded to Buy from Strong Buy at ISI Group... Cobalt (CIE) downgraded to Buy from Strong Buy at ISI Group... Franklin Resources (BEN) downgraded to Market Perform at Keefe Bruyette... Hasbro (HAS) downgraded to Hold from Buy at Needham... PPL Corp. (PPL) downgraded to Neutral from Outperform at Macquarie... Sonic (SONC) downgraded to Neutral from Buy at Buckingham... Vodafone (VOD) downgraded to Neutral from Buy at Nomura... AutoZone (AZO) downgraded to Neutral from Outperform at RW Baird... Advance Auto Parts (AAP) downgraded to Neutral from Outperform at RW Baird... LinnCo (LNCO) downgraded to Neutral from Buy at Citigroup... LINN Energy (LINE) downgraded to Neutral from Buy at Citigroup... General Mills (GIS) downgraded to Hold from Buy at Argus.
07:11 EDTSONCSonic downgraded at Buckingham
As previously reported, Buckingham downgraded Sonic to Neutral from Buy. The firm downgraded shares due to valuation and the rise in dairy costs. Price target is $24.
06:44 EDTSONCMost senators resisting compromise on minimum wage increase, Politico reports
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06:27 EDTSONCSonic downgraded to Neutral from Buy at Buckingham
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05:46 EDTSIRIStocks with implied volatility movement; IBB SIRI
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