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News Breaks
August 8, 2014
10:16 EDTBCOR, XOMA, JOE, DKS, TDC, TKMR, DRTX, XPO, HMSYHigh option volume stocks
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October 2, 2015
08:03 EDTXPOConcerns about XPO Logistics 'rather overblown,' says Stifel
After meeting with XPO's (XPO) senior management and attending a Q&A session held by its CEO, Stifel says that the Con-way deal will enable the company to compete in new markets and should create "a lot more value over time" than the UPS (UPS)-Coyote deal. The firm is very upbeat on XPO's management team. It keeps a $62 price target and Buy rating on the shares.
07:54 EDTXPOXPO management, customers 'very excited' about deal, says Deutsche Bank
Deutsche Bank analyst Robert Salmon says the management of XPO Logistics (XPO) along with the company's customers are "very excited" about the pending acquisition of Con-way (CNW). The addition of Con-way's large asset-based trucking company has put XPO "on the map," Salmon tells investors in a research note. He reiterates a Buy rating on the stock with a $42 price target after meeting with management.
October 1, 2015
12:54 EDTXPOOptions with increasing call volume
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11:06 EDTXOMAXOMA price target raised to $1.50 from $1 at Piper Jaffray
Piper Jaffray analyst Edward Tenthoff raised his price target for XOMA (XOMA) to $1.50 after the company partnered a preclinical TGF-beta antibody with Novartis (NVS) for $37M upfront and up to $480M in milestones. The payment brings XOMA's pro forma cash to $88M, enabling the company to advance its endocrine antibody pipeline, including lead candidate XOMA 358 for hyperinsulinism disorders, Tenthoff tells investors in a research note. The analyst keeps a Neutral rating on the name. The stock is up 20c to 95c in early trading.
09:20 EDTXOMAOn The Fly: Pre-market Movers
HIGHER: XOMA (XOMA), up 55.7% after announcing an agreement for anti-TGFb program with Novartis (NVS)... Sarepta Therapeutics (SRPT), up 10.6% after announcing additional clinical efficacy and safety data from the company's Phase IIb program of eteplirsen... Huntsman (HUN), up 3.8% after announcing a $150M share repurchase program... Mellanox (MLNX), up 3.2% after raising third quarter revenue guidance. DOWN AFTER EARNINGS: McCormick (MKC), down 3.4%. ALSO LOWER: Capstone Turbine (CPST), down 26.5% after announcing that its preliminary second quarter earnings were notably below management's expectations and analysts' consensus estimates... Concho Resources (CXO), down 3.9% after 7.7M share Spot Secondary priced at $92.50... AGCO (AGCO), down 3.5% after being downgraded to Sell from Neutral at UBS.
07:41 EDTXPOXPO Logistics management to meet with Deutsche Bank
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07:37 EDTXOMAXOMA announces agreement for anti-TGFb program with Novartis
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September 30, 2015
08:21 EDTXPOXPO Logistics decline overdone, says Oppenheimer
Oppenheimer notes that XPO's stock has tumbled since May. The firm says the decline was exacerbated by the company's recent acquisition of Con-way which was viewed unfavorably by investors, according to Oppenheimer. The firm cut its price target on the name to $33 from $56, but it says the company's growth ,margins and multiple can all rise as it obtains synergies and efficiencies from the acquisition. The firm keeps an Outperform rating on the stock.
07:15 EDTXPOXPO Logistics management to meet with Deutsche Bank
Meetings to be held in Los Angeles/Pasadena on September 30 hosted by Deutsche Bank.
06:55 EDTXPOXPO CEO: Not worked up about Con-Way deal stock hit, WSJ reports
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September 29, 2015
14:47 EDTXPOXPO Logistics calls active
XPO Logistics October 25, November 27, February 45 and 55 calls are active on total call volume of 26K contracts (1K puts). October call option implied volatility is at 76, November is at 74, February is at 65; compared to its 52-week range of 34 to 79 contracts. Active call volume suggests traders taking positions for large near term price movement.
September 28, 2015
18:02 EDTXPOCon-way says FTC grants early termination of waiting period
Con-way (CNW) announced in a regulatory filing that on September 25, the FTC granted early termination of the waiting period under the HSR Act applicable to the tender offer by Canada Merger Corp., a wholly owned subsidiary of XPO Logistics (XPO), to purchase any and all of the shares of Con-way's common stock.
10:20 EDTXPOOptions with increasing implied volatility
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07:08 EDTJOESaint Joe Co. announces final results of tender offer
The St. Joe Company announced the final results of its tender offer, which expired at 5:00 p.m., New York City time, on September 22, 2015. Based on the final count by the depositary, the Company accepted for purchase 16,348,143 shares of its common stock at a purchase price of $18.00 per share, net to the seller in cash, less any applicable withholding taxes and without interest, for a total purchase price of approximately $294.3 million. The repurchased shares represent approximately 17.8% of the Company's common stock outstanding as of September 24, 2015. The Company will promptly pay for the shares accepted for purchase.
September 25, 2015
12:43 EDTHMSYHMS Holdings management to meet with William Blair
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September 23, 2015
07:45 EDTJOESaint Joe Co. announces preliminary results of tender offer
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