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March 12, 2013
05:55 EDTUBS, UBS, LAZ, LAZ, ED, ED, BLK, BLK, MRK, MRK, T, T, NYX, NYX, CPB, CPB, HES, HES, JNJ, JNJ, INTC, INTC, AA, AA, SAN, SANCapital Link to host a forum
Annual CSR Forum: CSR & IR--Maximizing Shareholder Value will be held in New York on March 13.
News For UBS;AA;INTC;JNJ;HES;CPB;NYX;T;MRK;BLK;ED;LAZ;SAN From The Last 14 Days
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January 20, 2015
13:08 EDTJNJOn The Fly: Midday Wrap
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11:15 EDTINTCIntel slips after JMP cuts to sell, Canaccord says upgrade not yet warranted
Following Intel's (INTC) fourth quarter results last week, two research firms issued cautious notes on the stock today. JMP Securities downgraded the stock to Underperform, which is the firm's "Sell" equivalent rating, while Canaccord kept a Hold rating on the shares, though the latter firm said its outlook on the company's fundamentals is continuing to become more positive and raised its price target on the name. WHAT'S NEW: Intel's Q4 results were "mixed," but the company's fundamentals appear to have improved, Canaccord analyst Matt Ramsay wrote in a note to investors today. The company's data center group and Internet of Things group should generate sustained 15%+ and 20%+ growth, respectively, over the next several years, the analyst stated. Meanwhile, Intel's PC client group should be able to cut costs further, Ramsay believes. The analyst said he had "intended to upgrade the stock" after the results, given his long-term upbeat view of the company, but was unable to do so. Ramsay explained that he changed his mind because he does not think the company's profits will increase at all this year, while the stock largely already reflects his expectations for solid profit growth in 2016. The analyst increased his price target on the shares to $40 from $36 but kept a Hold rating on the stock. More bearish was JMP Securities analyst Alex Gauna. Gauna downgraded the stock to Underperform from Market Perform and set a $30 price target on Intel. After speaking with a source who sells server components, the analyst reported that the source's business has been weak this month. Weak server component sales are likely to pull down Intel's stock, given its relatively high valuation, the analyst stated. Meanwhile, Intel's gross margins have probably peaked, Gauna believes. PRICE ACTION: In morning trading, Intel fell 1.7% to $35.82.
10:33 EDTJNJJohnson & Johnson falls post-earnings, levels to watch
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09:48 EDTJNJJohnson & Johnson says eyeing options in orthopedics, surgical, vision care
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09:21 EDTJNJJ&J says negative impact of currency to be 'more significant' than expected
Says currency impact will be more significant in 1H than in 2H.
09:20 EDTJNJJ&J says 'comfortable' with models reflecting midpoint of FY EPS view
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09:18 EDTJNJJohnson & Johnson sees FY15 reported sales $75B-$76B
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09:18 EDTJNJJohnson & Johnson CEO says core businesses 'strong'
Johnson & Johnson (JNJ) providing sustainable, high quality healthcare "one of society's greatest challenges." Says core businesses "strong," positioned to continue expanding their leadership positions. CEO Alex Gorsky says company is changing the way it interacts with customers, evolving to be more "effective," "efficient." Says U.S. OTC consent decree requirements completed. Says in the process of developing a China lung center. Says still plans to take $1B out of P&L in next three years. Says aims to bring Ebola vaccine to market "as fast as possible." Says "well-positioned" for long-term. Says currency headwinds have increased "quite substantially," negatively impacting sales, earnings to greater extent than company had anticipated. Sees Depomed (DEPO) transaction closing in Q2. Expects R&D tax credit will be renewed in 2015. If R&D tax credit is approved, sees effective tax rate for 2015 of approx. 20%-21%. Sees operational sales growth for 2015 approx. 6%. Says Wall Street forecasts may not adequately reflect likely negative impact in 2015 of foreign exchange. Sees FY15 operational sales growth 1%-2% in constant currency. Comments made on the Q4 earnings conference call.
08:18 EDTJNJJohnson & Johnson sees 10 major Pharmaceuticals filings from 2013-2017
Sees 10 major filings, 25 line extensions in Pharmaceuticals expected between 2013-2017. Sees about 100 ongoing discovery projects, 50 novel compounds in early development, 5 breakthrough designations. Sees 30 major Medical Devices filings expected from 2014-2016, 20 key Consumer product launches expected global in 2015. Says near-term priorities include: Accelerating growth in Medical Devices through innovation, expanding market leadership in key consumer segments like OTC, Oral Care, Baby and Beauty. Comments from slides that will be presented on the Q4 earnings conference call.
08:07 EDTINTCIntel downgraded at JMP Securities
As noted earlier, JMP Securities downgraded Intel to Underperform from Market Perform. The firm reports that industry sources said there has been a sharp downturn in server activity going into 2015.
07:59 EDTINTCIntel upgrade not warranted due to lack of EPS growth, says Canaccord
Canaccord said it intended to upgrade Intel following its mixed Q4 results, but with estimates for essentially no earnings growth in 2015, the firm could not justify it. As a result, Canaccord raised its price target to $40 from $35 on Intel shares and maintained its Hold rating, but noted it stands ready to upgrade the stock on a pullback.
07:52 EDTJNJJohnson & Johnson reports Q4 Pharmaceutical sales $8B
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07:48 EDTJNJJohnson & Johnson sees FY15 adjusted EPS $6.12-$6.27, consensus $6.13
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07:46 EDTJNJJohnson & Johnson reports Q4 EPS ex-items $1.27, consensus $1.26
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07:28 EDTBLKTreasury Institute for Higher Education to hold a symposium
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07:23 EDTMRKMerck funding testing of lower dosages of Zilmax, Reuters reports
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06:58 EDTBLKBlackRock, Fidelity close to launching 'dark pool,' WSJ reports
Some of the largest mutual fund firms, including Fidelity, BlackRock (BLK), Bank of New York Mellon (BK),, T. Row Price (TROW) and JP Morgan (JPM) are among the firms that are close to launching a new "dark pool," The Wall Street Journal reports, citing sources. The effort, which involves nine firms in total, would look to shut out sell-side trading desks and high-speed trading firms. Reference Link
06:24 EDTTT-Mobile warns of unsustainable costs against cellphone giants, Re/code says
T-Mobile (TMUS) owner Deutsche Telekom (DTEGY) claims Verizon (VZ) and AT&T's (T) wealth makes true competition difficult, reports Re/code, citing statements made at Germany's DLD conference. Deutsche Telekom CEO Tim Hoettges stated the dominance of AT&T and Verizon allowed them to make huge bids at the latest midband spectrum auction to further their market lead. Hoettges also stated he was "intrigued" by last year's unsuccessful merger talks with Sprint (S), and warned that T-Mobile's $4B-$5B investment requirements per year are unsustainable. Reference Link
06:12 EDTINTCIntel downgraded to Underperform from Market Perform at JMP Securities
January 18, 2015
13:45 EDTTGoogle in talks to acquire mobile-pay platform Softcard, WSJ says
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