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News Breaks
January 7, 2013
10:07 EDTFEIC, NBL, BRCM, SWN, SODA, SPB, COGOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: SolarCity (SCTY) initiated with a Buy at Goldman... SolarCity (SCTY) initiated with a Buy at Roth Capital... SolarCity (SCTY) initiated with an Outperform at Credit Suisse... Spectrum Brands (SPB) coverage reinstated with a Buy at Deutsche Bank... Broadcom (BRCM) initiated with an Overweight at Evercore... FEI Company (FEIC) initiated with an Outperform at Pacific Crest... SodaStream (SODA) initiated with an Overweight at Barclays... Noble Energy (NBL) initiated with a Buy at BofA/Merrill... Cabot Oil & Gas (COG) initiated with a Neutral at BofA/Merrill... Southwestern Energy (SWN) initiated with a Neutral at BofA/Merrill.
News For SPB;BRCM;FEIC;SODA;NBL;COG;SWN From The Last 14 Days
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November 27, 2015
13:22 EDTSWNOn The Fly: Top stock stories for Friday
Stocks on Wall Street were mixed following the short Black Friday session. In addition to periodic checks on traffic at malls and big box retailers, the day's media coverage was dominated by discussion of Disney's disclosure that subscribers for ESPN have dropped about 3% from last year's levels. ECONOMIC EVENTS: In the U.S., no major data was released, as several reports that usually come out on Thursdays or Fridays were accelerated into Wednesday due to the holiday. In China, shares of brokerages sold off sharply, with Citic Securities, Founder Securities and China Merchants all falling about 10% on news that the China Securities Regulatory Commission had launched investigations into the firms in an effort to limit short selling and speculation. Amid the rout in the brokerages, the Shanghai Composite index tumbled 5.5%. COMPANY NEWS: Shares of Disney (DIS) fell $3.56, or 3.0%, to $115.11 after the media giant disclosed in a regulatory filing late Wednesday that domestic subscribers for ESPN were estimated to have declined by 3M. As of October 3, ESPN had 92M subscribers in the U.S., as estimated by Nielsen Media Research. In the company's 10-K filing last year, Disney stated that Nielsen estimated that ESPN had 95M subscribers as of September 27, 2014. Disney's weakness weighed on its big media peers as well, with Twenty-First Century Fox (FOX, FOXA) falling 1.2%, Time Warner (TWX) dropping 0.74% and Viacom (VIA, VIAB) sliding 1.8%... Amazon (AMZN) shares were flattish, falling 0.3% despite Adobe Systems estimating that online shoppers in the U.S. would spend $1.7B in online shopping by the end of the day on Thanksgiving, a 22% jump from last year. Additionally, ChannelAdvisor estimated that Amazon had a "strong showing" on Thanksgiving day, calculating that its same-store sales grew 28.9% compared to last year. MAJOR MOVERS: Among the notable gainers was Exact Sciences (EXAS), which rose 3.8% to $9.23 after the Centers for Medicare and Medicaid Services, or CMS, posted the 2016 Clinical Diagnostic Laboratory Fee Schedule. Exact Sciences announced this morning that it has requested that CMS clarify the 2016 reimbursement rate for the company's Cologuard test. Also higher were shares of KaloBios Pharmaceuticals (KBIO), which jumped 30.8% to $34.83 after its new CEO, Martin Shkreli, announced last night via his Twitter account that after speaking with his counsel and advisers that he has decided to stop lending his KaloBios shares out until he "better [understands] the advantages of doing so." Among the noteworthy losers were a number of oil and gas explorers, as Pioneer Energy Services (PES), Stone Energy (SGY) and Southwestern Energy (SWN) fell 8%, 10.2% and 7.2%, respectively, during another down day for oil prices. INDEXES: The Dow fell 14.90, or 0.08%, to 17,798.49, the Nasdaq gained 11.38, or 0.2%, to 5,127.52, and the S&P 500 added 1.24, or 0.06%, to 2,090.11.
November 24, 2015
10:41 EDTBRCMOptions with increasing implied volatility: EMES WMB BRCM
November 23, 2015
10:51 EDTBRCMOptions with increasing implied volatility: TERP BRCM CHK RAD POM
08:13 EDTNBLNoble Energy, BG International agree to partnership in Block 12 offshore Cyprus
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November 19, 2015
16:47 EDTNBLNoble Midstream Partners postpones IPO citing 'unfavorable' market conditions
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07:34 EDTFEICGoldman Sachs to hold a conference
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06:34 EDTSPBSpectrum Brands sees FY16 revenue growth in high-single digits, consensus $5.12B
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06:33 EDTSPBSpectrum Brands reports Q4 Global Batteries & Appliances sales $553M
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06:32 EDTSPBSpectrum Brands expects healthy top and bottom-line growth in FY16
The company commented, "Looking to fiscal 2016, we expect healthy top and bottom-line growth again from a mix of new products, new customers, distribution and market share gains, increased cross-selling, geographic expansion and continuous improvement savings along with strong expense control. At current spot rates, we face continuing negative foreign currency headwinds, primarily in the first half of the year. We have plans in place to offset these headwinds as in fiscal 2015."
06:31 EDTSPBSpectrum Brands reports Q4 adjusted EPS $1.13, consensus $1.16
Reports Q4 revenue $1.31B, consensus $1.33B.
November 18, 2015
14:38 EDTSPBNotable companies reporting before tomorrow's open
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08:14 EDTBRCMNXP Semiconductors added to Top Pick list at FBR Capital
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November 17, 2015
16:38 EDTSWNSouthwestern Energy files automatic mixed securities shelf
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16:22 EDTSWNSouthwestern Energy enters into three-year term loan agreement
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10:00 EDTSWNOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Airgas (ARG) downgraded on valuation at KeyBanc... BHP Billiton (BHP) downgraded to Neutral from Buy at Clarksons Platou... Chesapeake (CHK) downgraded to Neutral from Buy at Sterne Agee CRT... ChipMOS (IMOS) downgraded to Equal Weight from Overweight at Morgan Stanley... Clovis (CLVS) downgraded to Neutral from Conviction Buy at Goldman... Cooper Companies (COO) downgraded to Market Perform from Outperform at Wells Fargo... Five Below (FIVE) downgraded to Neutral from Buy at Sterne Agee CRT... Grainger (GWW) downgraded to Underweight from Neutral at Atlantic Equities... Hess Corp. (HES) downgraded to Perform from Outperform at Oppenheimer... J Sainsbury (JSAIY) downgraded to Neutral from Buy at Citi... Kindred Biosciences (KIN) downgraded to Market Perform from Outperform at BMO Capital... Leju (LEJU) downgraded to Neutral from Buy at BofA/Merrill... Lombard Medical (EVAR) downgraded to Equal Weight from Overweight at Barclays... Osiris (OSIR) downgraded to Sell from Hold at Brean Capital... Polaris Industries (PII) downgraded on anemic ORV growth at Wedbush... SQM (SQM) downgraded to Hold from Buy at HSBC... Southwestern Energy (SWN) downgraded to Underperform from Neutral at Sterne Agee CRT... Starwood (HOT) downgraded to Outperform from Buy at CLSA... Urban Outfitters (URBN) downgraded to Hold from Buy at Cantor... WM Morrison (MRWSY) downgraded to Sell from Neutral at Citi... adidas (ADDDY) downgraded to Sector Perform from Outperform at RBC Capital... athenahealth (ATHN) downgraded to Underweight from Equal Weight at Barclays.
08:10 EDTNBLMitsubishi UFJ to hold a conference
Oil & Gas Conference is being held in New York on November 17.
06:16 EDTSWNSouthwestern Energy downgraded to Underperform from Neutral at Sterne Agee CRT
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November 16, 2015
19:25 EDTFEICFEI Company management to meet with JPMorgan
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16:53 EDTBRCMPaulson reduced stake in Valeant
Paulson & Co. gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: Perrigo (PRGO), CIT Group (CIT), Precision Castparts (PCP), Cameron (CAM), and Altera (ALTR). INCREASED STAKES: Teva (TEVA), Post Holdings (POST), Starwood Hotels (HOT), LivaNova (LIVN), and Synergy Pharmaceuticals (SGYP). DECREASED STAKES: Valeant (VRX), Shire (SHPG), Whiting Petroleum (WLL), Computer Sciences (CSC), and Oasis Petroleum (OAS). LIQUIDATED STAKES: Houghton Mifflin Harcourt (HMHC), Broadcom (BRCM), and Sprint (S).
10:25 EDTBRCMUBS trims Apple target, says iPhone partner cut production forecast
Hon Hai, which manufactures Apple's (AAPL) iPhones, expects to assemble significantly fewer iPhones this quarter than in the same period in 2014, UBS wrote in a note to investors today. WHAT'S NEW: Hon Hai Precision Industry, also known as Foxconn, is expected to assemble 10% fewer iPhones this quarter than in the same period in 2014, said UBS analyst Steven Milunovich, citing work from fellow UBS analyst Arthur Hsieh. Previously, companies that supply force touch components for iPhones saw a 10%-15% reduction in their orders, the analyst reported. These developments "are not encouraging," but Apple had previously ordered a large number of iPhones for Q4, according to Milunovich. Overall iPhone demand "could still be decent," he believes. However, the analyst lowered his iPhone sales estimate for Apple's March quarter to 61M from 62.5M, asserting that iPhone sales on China's November 11 Singles Day holiday may have come in below expectations. Based on October search volumes, he continues to believe that demand for iPhone units in the fourth quarter of the calendar year will be 75M, in-line with the consensus outlook. Milunovich trimmed his price target on Apple to $140 from $150 but kept a Buy rating on the shares. WHAT'S NOTABLE In a note to investors on November 10, Credit Suisse reported that it was cutting its estimates for 2016 iPhone sales. The firm expects sales of the device to fall 10.4% in the first quarter versus the same period in 2015, and it predicts that iPhone sales will decline 5.5% year-over-year in 2016. Suppliers with greater than 10% exposure to Apple include Avago (AVGO), SanDisk (SNDK), Analog Devices (ADI), Broadcom (BRCM), Texas Instruments (TXN), NXP Semiconductors (NXPI) and Fairchild (FCS), Credit Suisse reported. The firm said it continues to have a negative view of the smartphone sector. PRICE ACTION: In early trading, Apple added nearly 1% to $113.34.
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