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Stock Market & Financial Investment News

News Breaks
May 27, 2014
16:15 EDTVOLCVolcano acquires AtheroMed
Volcano Corporation said it has signed an agreement to acquire AtheroMed a privately-held company that has developed the Phoenix Atherectomy System used in the treatment of peripheral artery disease,PAD.The device has reimbursement in the U.S. and select countries in Europe. Under terms of the agreement, Volcano will pay $115M in cash at closing, which is expected to occur in the current quarter. In addition, Volcano will make a $15M milestone payment if a Phoenix device currently before the FDA receives clearance by November 15. This application covers design for manufacturing improvements to the currently approved device. In addition, the agreement calls for potential future revenue-based milestone payments by Volcano to AtheroMed. "We believe the potential of Phoenix to both grow the atherectomy market and achieve a strong market share position will facilitate our revenue, gross margin and operating income expansion goals," said Scott Huennekens, president and CEO. Huennekens said the company plans to initiate a limited market release of the Phoenix by the end of 2014 and a full market release in early 2015. Volcano said based on anticipated costs related to the commercialization of the Phoenix System, it believes this transaction on a stand-alone basis will be dilutive for two years post-closing. However, these expenses of approximately $7M in 2014 will be offset by a reprioritization of spending in other areas of the company. As a result, on a before purchase accounting basis, the company is not changing its operating expense outlook for 2014, or GAAP and non-GAAP EPS guidance for the second quarter and all of 2014. For 2015, the company expects operating margin dilution of this transaction on a stand-alone basis, before purchase accounting, will be approximately $12M-$13M. However, the company believes that a significant portion of this dilution will be covered by a reprioritization of existing projects.
News For VOLC From The Last 14 Days
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December 19, 2014
16:35 EDTVOLCMarket ends week higher as Fed reassures, oil stabilizes
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December 18, 2014
10:01 EDTVOLCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Bruker (BRKR) downgraded to Sell from Neutral at Goldman...Linear Technology (LLTC) downgraded to Sell from Neutral at Citigroup... Macerich (MAC) downgraded to Neutral from Buy at MLV & Co... BreitBurn Energy (BBEP) downgraded to Sector Perform from Outperform at RBC Capital... Oceaneering (OII) downgraded to Sector Perform from Outperform at RBC Capital... Oil States (OIS) downgraded to Sector Perform from Outperform at RBC Capital... Teradyne (TER) downgraded to Neutral from Buy at Citigroup... Volcano (VOLC) downgraded to Neutral from Buy at Roth Capital... XL Group (XL) downgraded to Market Perform from Outperform at Keefe Bruyette... Intuit (INTU) downgraded to Neutral from Outperform at Wedbush... Penn Virginia (PVA) downgraded to Market Perform from Outperform at Wells Fargo... Whiting Petroleum (WLL) downgraded to Market Perform from Outperform at Wells Fargo... Time Warner Cable (TWC) downgraded to Neutral from Buy at BTIG... Royal Caribbean (RCL) downgraded to Sell from Hold at DNB Markets... Silicon Image (SIMG) downgraded to Market Perform from Outperform at Northland.
06:37 EDTVOLCVolcano downgraded to Neutral from Buy at Roth Capital
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December 17, 2014
16:27 EDTVOLCOn The Fly: Closing Wrap
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15:06 EDTVOLCVolcano downgraded to Hold from Buy at Jefferies
Volcano (VOLC) has agreed to be acquired by Philips (PHG).
12:57 EDTVOLCOn The Fly: Midday Wrap
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12:33 EDTVOLCVolcano downgraded to Hold from Buy at Feltl
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10:09 EDTVOLCHigh option volume stocks
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10:02 EDTVOLCOn The Fly: Analyst Downgrade Summary
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09:22 EDTVOLCOn The Fly: Pre-market Movers
HIGHER: Auspex Pharmaceuticals (ASPX), up 83.1% after Phase 3 trial of SD-809 met primary efficacy endpoint... Volcano (VOLC), up 55.3% after Philips (PHG) announced it will acquire the company for $18.00 per share... Paramount Gold and Silver (PZG), up 35.9% after announcing a merger agreement with Coeur Mining... Cerus (CERS), up 17.8% after FDA approves Intercept Blood System... American Apparel (APP), up 15.5% after terminating Dov Charney for cause... TASER (TASR), up 6.1% after LAPD purchases 860 AXON body-worn video cameras... Idera Pharmaceuticals (IDRA), up 5.9% after being called a top 2015 small cap pick at Piper Jaffray... Kandi Technologies (KNDI), up 7.5% after selling 1,000 electric vehicles to Chengdu City... Stillwater Mining (SWC), up 2.7% after being upgraded to Buy from Neutral at Goldman. DOWN AFTER EARNINGS: FedEx (FDX), down 3.5%... Joy Global (JOY), down 1.7%. ALSO LOWER: POZEN (POZN), down 13.1% after receiving a second complete response letter from the FDA for Yosprala... Cliffs Natural (CLF), down 13.1% after price target cut to $1 from $10 at Credit Suisse... Coeur Mining (CDE), down 2.8% following merger agreement with Paramount Gold and Silver.
07:21 EDTVOLCVolcano downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray downgraded Volcano (VOLC) to Neutral citing the takeover by Philips (PHG).
05:21 EDTVOLCPhilips to acquire Volcano for $18.00 per share
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05:19 EDTVOLCPhilips to acquire Volcano for $18.00 per share
December 9, 2014
10:23 EDTVOLCOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Eagle (AEO) upgraded to Outperform from Perform at Oppenheimer... Concho Resources (CXO) upgraded to Outperform from Neutral at Macquarie... Hanmi Financial (HAFC) upgraded to Outperform from Market Perform at FBR Capital... LHC Group (LHCG) upgraded to Outperform from Underperform at Credit Suisse... Lincoln Electric (LECO) upgraded to Buy from Neutral at Longbow... Northeast Utilities (NU) upgraded to Outperform from Neutral at Macquarie... SM Energy (SM) upgraded to Outperform from Neutral at Macquarie... Volcano (VOLC) upgraded at Needham... Wells Fargo sees fewer distractions for lululemon (LULU), upgrades shares... Xcel Energy (XEL) upgraded to Outperform from Neutral at Macquarie... lululemon (LULU) upgraded to Outperform from Market Perform at Wells Fargo.
08:49 EDTVOLCVolcano upgraded at Needham
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06:00 EDTVOLCVolcano upgraded to Buy from Hold at Needham
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