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News Breaks
February 24, 2012
10:30 EDTPG, CPT, AVB, BAX, TGT, HCCI, PPS, GB, MAR, CRM, CLP, CCG, UA, CRUSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Target (TGT) upgraded to Buy from Hold at Jefferies...Cirrus Logic (CRUS) upgraded to Outperform from Perform at Oppenheimer...Marriott (MAR) upgraded to Conviction Buy from Buy at Goldman...Baxter (BAX) upgraded to Neutral from Sell at Citigroup...Under Armour (UA) upgraded to Overweight from Equal Weight at Morgan Stanley...Greatbatch (GB) upgraded to Neutral from Underweight at Piper Jaffray...AvalonBay (AVB) upgraded to Outperform from Underperform at Credit Suisse...Campus Crest (CCG) upgraded to Buy from Neutral at Janney Capital...Post Properties (PPS) upgraded to Buy from Neutral at UBS...Camden Property (CPT) upgraded to Buy from Neutral at UBS...Colonial Properties (CLP) upgraded to Buy from Neutral at UBS...Heritage-Crystal Clean (HCCI) upgraded to Buy from Hold at Needham...Procter & Gamble (PG) upgraded to Buy from Neutral at Buckingham...Salesforce.com (CRM) upgraded to Buy from Hold at ThinkEquity.
News For TGT;CRUS;MAR;BAX;UA;GB;AVB;CCG;PPS;CPT;CLP;HCCI;PG;CRM From The Last 14 Days
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May 14, 2015
08:21 EDTCRMSalesforce price target raised to $87 from $78 at Goldman
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06:21 EDTCRMSalesforce implied volatility of 57 at upper end of index
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May 13, 2015
14:05 EDTTGTTarget May weekly volatility elevated into Q1 and outlook
Target May weekly call option implied volatility is at 26, June is at 21, July is at 19; compared to its 90-day average of 19, suggesting large price movement into the expected release of Q1 results on May 20.
10:40 EDTBAXBaxter to host two day investor meeting
Two day Investor meeting to be held in New York May 18-19.
07:31 EDTGBHeart Rhythm Society to hold a conference
Heart Rhythm 2015 is being held in Boston on May 13-16.
May 12, 2015
16:33 EDTCRMSalesforce, Sage announce strategic partnership, new small business platform
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12:17 EDTCRUSCirrus Logic management to meet with Piper Jaffray
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11:38 EDTCRMLivePerson sinks to 52-week low after cutting fiscal 2015 outlook
Shares of LivePerson (LPSN), a provider of cloud-based digital engagement solutions, are sinking after the firm lowered its outlook for fiscal 2015. WHAT'S NEW: LivePerson yesterday reported first quarter adjusted earnings per share of 4c, in line with analysts' consensus estimates, on revenue of $59.8M, slightly below analysts' consensus estimates of $60.79M. LivePerson said it signed 147 deals in the quarter, including the addition of 30 new customers. Looking ahead to the second quarter, LivePerson forecast adjusted EPS of 0c-2c and revenue of $58.5M-$59.5M, well below the analysts' consensus estimates of 6c and $63.88M, respectively. WHAT'S NOTABLE: The company lowered its fiscal year 2015 adjusted EPS view to 10c-15c from 27c-32c, significantly trailing analysts' consensus estimates of 28c. LivePerson also cut its FY15 revenue outlook to $243M-$247M from $263M-$269M, also well below analysts' estimates of $264.36M. The company reduced reduced FY15 revenue guidance by $21M when comparing the midpoint of its updated guidance range to the midpoint of its previous guidance range. The adjustment reflects the impact of one large customer contract that ended, an increase in foreign exchange headwinds and a slightly slower start to the year than expected as the company intensified its focus on bringing LiveEngage to the market, the company said. LivePerson said it expects to record a $2.5M charge in Q2 related to cost-cutting move, which it described as "reprioritizing on areas showing the highest potential growth." The company believes its cost-savings initiatives will generate approximately $13M of expense savings in 2015. ANALYST REACTION: Credit Suisse this morning downgraded LivePerson to Neutral from Outperform and lowered its price target to $8 from $19. The firm said LivePerson was "forced" to lower revenue guidance for FY15 primarily due to the loss of AT&T (T) as a pay-for-performance chat customer, as well as from a slow sales start and FX. The firm said the ability of LivePerson to transition its large customer base to LiveEngage 2.0 will take longer than previously estimated. PRICE ACTION: In late morning trading, LivePerson fell $1.16, or 12.26%, to $8.30 on more than five times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $8.10. Including today's pull back, the shares have lost approximately 15% over the past 12 months. OTHERS TO WATCH: Other companies offering cloud-based digital engagement solutions include eGain (EGAN), down 1.2%, Zendesk (ZEN), down 4.05%, and Salesforce.com (CRM), up 0.2%.
09:08 EDTAVBEvercore ISI to hold a field trip
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09:02 EDTBAXBaxter expects to establish BioScience business as separate business by mid-year
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09:01 EDTBAXBaxter to acquire Oncaspar product portfolio from Sigma-Tau for $900M
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07:06 EDTBAXKamada sees FY15 revenue $70M-$73M, consensus $78.69M
Kamada (KMDA) sees revenue from its Distributed Product Segment projected to be between $26 million and $28 million and revenue from its Proprietary Products Segment projected to be between $45 million and $47 million. The company notes that revenue projections for 2015 take into account an expected negative foreign exchange impact of approximately $2.0 million in relation to product sales in Israel and Russia, and presume that U.S. revenue from the agreement with Baxter (BAX) remains on track.
06:02 EDTCRMSalesforce implied volatility of 64 at upper end of index
May 11, 2015
10:03 EDTCRMSalesforce to hold a press event
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10:00 EDTCRMSalesforce to hold a meeting
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09:01 EDTTGTLowe's acquires leases of 13 former Target stores in Canada
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07:06 EDTCRMSalesforce removed from Best Ideas List at Morgan Stanley
Morgan Stanley removed Salesforce.com from the Best Ideas List and maintained its Buy ratting and $80 price target. The firm said Salesforce.com's secular growth and margin expansion remain in place but shares are trading on an acquisition premium and risk/reward is balanced near-term. The firm views an acquisition as unlikely and said the sheer size would make it extremely complicated, with few bidders.
06:04 EDTCRMSalesforce removed from Best Ideas List at Morgan Stanley
Morgan Stanley removed Salesforce from its Best Ideas list saying the near-term risk/reward is more balanced with shares trading at an "acquisition premium." The firm keeps an Overweight rating on the name with an $80 price target.
May 10, 2015
20:07 EDTPGCVC, Advent prepare bids for Procter & Gamble haircare unit, Sunday Times says
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17:45 EDTTGTJudge allows $19M Target data breach settlement to move ahead, Reuters says
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