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December 16, 2013
12:19 EDTTWTR, PPP, AER, AIG, TMUS, S, XOM, LSI, AVGO, BRDOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday amid a number of merger announcements, a flurry of domestic economic data, and encouraging manufacturing reports from Europe, particularly in Germany. ECONOMIC EVENTS: In the U.S., the Empire State manufacturing index rebounded to 1.0 in December, after falling to -2.2 in November, though analysts had expected the index to come in at 5.0. Third quarter nonfarm productivity growth was revised up to 3.0% from the 1.9% preliminary reading. Unit labor costs declined 1.4% in the quarter, compared to a previous estimate of them being down 0.6%. Markit's preliminary purchasing managers' index for December dipped to 54.4 from November's 54.7 reading. Industrial production rose 1.1% in November from October, beating expectations for a 0.6% monthly increase. November's capacity utilization rate of 79.0% was ahead of the consensus 78.4% forecast. In Europe, a euro zone PMI came in at 52.1 for December, beating the consensus estimate of 51.9 and hitting its second highest level since mid-2011. The zone's external trade surplus almost doubled year-over-year in October, to EUR17.2B, with exports rising 1% in the month and imports shrinking 3%. In Asia, HSBC's purchasing managers' index for China came in at 50.5, which indicates expansion but also represents a three month low. COMPANY NEWS: Avago Technologies (AVGO) announced it will acquire LSI Corporation (LSI) for $11.15 per share in an all-cash transaction valued at $6.6B. LSI shares surged nearly 40% on the deal, while Avago, which said the transaction is expected to be significantly and immediately accretive to its non-GAAP free cash flow and earnings per share, advanced 8%... Shares of Exxon Mobil (XOM) rose about 3% after Goldman upgraded the stock to Buy from Neutral and raised its price target on the oil major to $109 from $96. MAJOR MOVERS: Among the notable gainers was AerCap (AER), which advanced nearly 33% after announcing a deal to buy International Lease Finance Corporation, or ILFC, from American International Group (AIG) for $3B of cash and about 97.6M newly issued AerCap common shares. AIG rose a bit over 1% after selling the jet-leasing unit, which it considers a non-core asset. Also higher were shares of Sprint (S), which rose 0.6% after The Wall Street Journal said late on Friday that the company is preparing a possible bid for its mobile carrier peer T-Mobile US (TMUS). Shares of T-Mobile, however, were down 4% following the report. Among the other noteworthy losers was Primero Mining (PPP), which fell 6% after agreeing to acquire all the outstanding common shares of Brigus Gold (BRD) in a stock and spin-off transaction. Also lower was Twitter (TWTR), which slid almost 3% after research firms Wells Fargo and SunTrust downgraded the shares of the microblog operator. INDEXES: Near noon, the Dow was up 126.70, or 0.8%, to 15,882.06; the Nasdaq was up 26.20, or 0.65%, to 4,027.17; and the S&P 500 was up 11.07, or 0.62%, to 1,786.39.
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April 9, 2014
11:45 EDTTWTRTwitter May volatility elevated at 69
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11:15 EDTS, TMUST-Mobile unveils $40 monthly price plan called 'Simple Starter'
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10:06 EDTXOMOn The Fly: Analyst Initiation Summary
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07:28 EDTAVGO, LSIAvago price target raised to $76 from $65 at Canaccord
Canaccord raised its price target on Avago (AVGO) citing its growth potential in the China TD-LTE market, strong RF participation in the smartphones market, and improved margins following the close of its acquisition of LSI Corp (LSI). Shares are Buy rated.
07:02 EDTAIGAIG poised to surge this year, says Bernstein
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April 8, 2014
17:43 EDTXOMExxon Mobil initiated with a Hold at Jefferies
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10:23 EDTAERHigh option volume stocks: VIAB CMCSK OHRP SA AER
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10:03 EDTTWTROn The Fly: Analyst Initiation Summary
1st United Bancorp (FUBC) initiated with a Neutral at Macquarie... Avista (AVA) initiated with a Fair Value at CRT Capital... Castlight Health (CSLT) initiated with a Neutral at Goldman... Cempra (CEMP) initiated with an Equalweight at Barclays... Coca-Cola (KO) initiated with a Buy at BTIG... JinkoSolar (JKS) initiated with an Overweight at Barclays... Lumenis (LMNS) initiated with a Buy at Goldman... National Retail Properties (NNN) initiated with an Overweight at Morgan Stanley... PepsiCo (PEP) initiated with a Buy at BTIG... Realty Income (O) initiated with an Underweight at Morgan Stanley... Teekay (TK) initiated with an Outperform at Raymond James... Twitter (TWTR) initiated with a Buy at Janney Capital... Realogy (RLGY) initiated with an Outperform at RBC Capital... Bristow Group (BRS) initiated with an Outperform at Clarkson Capital... Era Group (ERA) initiated with an Outperform at Clarkson Capital... Endurance (EIGI) initiated with a Buy at Craig-Hallum... Tutor Perini (TPC) initiated with an Overweight at Stephens... MannKind (MNKD) initiated with an Outperform at Brinson Patrick... TriCo Bancshares (TCBK) initiated with an Outperform at Fig Partners... Achaogen (AKAO) initiated with an Outperform at Cowen.
09:16 EDTTWTRTwitter announces redesign of profile pages
Twitter announced on its blog a redesign of profile pages. Twitter says, "The new web profile lets you use a larger profile photo, customize your header, show off your best Tweets and more. Tweets that have received more engagement will appear slightly larger, so your best content is easy to find. Pin one of your Tweets to the top of your page, so itís easy for your followers to see what youíre all about. Now you can choose which timeline to view when checking out other profiles. Select from these options: Tweets, Tweets with photos/videos, or Tweets and replies." Reference Link
09:09 EDTTWTROn The Fly: Pre-market Movers
HIGHER: BioScrip (BIOS), up 6.7% after stock was named as a stock pick and a potential takeover target by Oscar Schafer while speaking on CNBC... Nokia (NOK), up 5% after deal to sell substantially all of its Devices & Services business to Microsoft (MSFT) receives regulatory approval in China... (CTRP), up 4.6% after Bloomberg said, citing sources, that the company is in talks with Baidu-controlled (BIDU) Qunar (QUNR) about a partnership or a potential merger... Plug Power (PLUG), up 4.6% after CEO discusses plan to expand fuel cells to trucks in interview... FireEye (FEYE), up 2.5% following upgrade at Wedbush... Twitter (TWTR), up 2% following initiation of coverage with a Buy rating at at Janney Capital... Nike (NKE), up 1.75% after upgraded at Stifel. LOWER: Gigamon (GIMO), down 23% after lowering revenue outlook, shares downgraded at Pacific Crest... LivePerson (LPSN), down 3% after announcing resignation of EVP, Worldside Sales, shares downgraded at Benchmark... Cisco (CSCO), down 0.5% following downgrade to Hold from Buy at Wunderlich.
07:52 EDTTMUSComcast, Time Warner execs go before critic at hearing, Reuters says
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06:19 EDTTWTRTwitter initiated with a Buy at Janney Capital
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06:04 EDTAIGStocks with implied volatility movement; WFM AIG
Stocks with implied volatility movement; Whole Foods (WFM) 33, AIG (AIG) 24 according to iVolatility.
April 7, 2014
13:05 EDTAVGOAnalyst says semiconductor stocks attractive after decline
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12:11 EDTTWTRTwitter acquires Cover, terms not disclosed
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10:00 EDTAVGOOn The Fly: Analyst Downgrade Summary
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08:16 EDTAVGOPullback in semiconductor stocks creates buying opportunity, says Sterne Agee
After many semiconductor stocks dropped significantly on Friday, Sterne Agee thinks that the group's fundamental mid to long-term outlook hasn't changed. Sterne Agee thinks the companies are poised to benefit from strong product cycles and earnings leverage. It is most upbeat on Micron (MU), NXP Semiconductors (NXPI), Avago (AVGO), Skyworks (SWKS), and SanDisk (SNDK). The firm keeps Buy ratings on all the stocks named.
07:03 EDTAIGAIG loss ratio to continue to improve, says Bernstein
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06:49 EDTTWTRWeibo looking to raise over $380M in IPO, NY Times says
SINA's (SINA) Weibo hopes to raise more than $380M in its upcoming IPO and price its shares at $17-$19, Weibo said in its prospectus, according to The New York Times. Known as a "microblog," Weibo has been compared to Twitter (TWTR). Reference Link
06:22 EDTAVGOAvago downgraded to Buy from Conviction Buy at Goldman
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