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Stock Market & Financial Investment News

News Breaks
June 24, 2014
11:07 EDTAPD, ADBE, PIR, VRTX, JBL, RAD, SWHC, MU, RHT, MTOROptions with decreasing implied volatility
Options with decreasing implied volatility: VRTX MTOR SWHC PIR RHT RAD ADBE MU JBL APD
News For VRTX;MTOR;SWHC;PIR;RHT;RAD;ADBE;MU;JBL;APD From The Last 14 Days
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January 28, 2016
16:00 EDTMUOptions Update; January 28, 2016
iPath S&P 500 VIX Short-Term Futures down 84c to 25.21 Option volume leaders: FB AAPL MSFT AMZN NFLX BAC BABA QCOM AAL MU C RIG
10:32 EDTRADOptions with increasing implied volatility: RAD GMCR
08:32 EDTRADRite Aid reports January SSS down 1.4%
For the four weeks ended Jan. 23, 2016, same store sales decreased 1.4% over the prior-year period. January front-end same store sales decreased 1.9%. Pharmacy same store sales, which included an approximate 242 basis points negative impact from new generic introductions, decreased 1.2%. Prescription count at comparable stores decreased 1% over the prior-year period. Total drugstore sales for the four-week period decreased 1.3% with sales of $2B compared to $2.026B for the same period last year. Prescription sales accounted for 70.5% of drugstore sales, and third party prescription sales represented 97.7% of pharmacy sales.
05:59 EDTVRTXVertex price target lowered to $143 from $180 at Piper Jaffray
Piper Jaffray analyst Edward Tenthoff lowered his price target for Vertex Pharmaceuticals to $143 to reflect reduced cystic fibrosis sales assumptions following the company's Q4 results. The analyst says there is "no surprises" in Vertex's quarter and keeps an Overweight rating on the name.
January 27, 2016
19:30 EDTVRTXOn The Fly: After Hours Movers
UP AFTER EARNINGS: Facebook (FB), up 11.4%... Mellanox (MLNX), up 6.4%... Paypal (PYPL), up 5%... Crown Castle (CCI), up 2.2%... Citrix (CTXS), up 2.4%... Las Vegas Sands (LVS), up 1%... SanDisk (SNDK), up 1%. ALSO HIGHER: Radius Health (RDUS), up 1.2% after announcing a clinical collaboration with Novartis (NVS)... LinkedIn (LNKD) is up 2.4%, Alphabet (GOOG, GOOGL) is up 2.2% and 2.6%, respectively, Netflix (NFLX) is up 1%, Amazon.com (AMZN) is up 2%, and Twitter (TWTR) is up marginally after Facebook reported quarterly results... MGM Resorts (MGM) is up 2.2% and Wynn Resorts (WYNN) is up 2.2%. DOWN AFTER EARNINGS: ServiceNow (NOW), down 16.5%... eBay (EBAY), down 12.8%... United Rentals (URI), down 9.7%... Juniper Networks (JNPR), down 9.6%... Silicon Graphics (SGI), down 9.1%... Discover Financial (DFS), down 7.4%... InvenSense (INVN), down 6.1%... Core Laboratories (CLB), down 4.3%... Vertex Pharmaceuticals (VRTX), down 1.1%. ALSO LOWER: Incyte (INCY), down 12.8% after announcing that it will halt the Phase 2 sub-study of ruxolitinib or placebo in combination with regorafenib after a planned interim analysis of the high CRP subgroup demonstrated that ruxolitinib plus regorafenib did not show a sufficient level of efficacy to warrant continuation.
16:05 EDTVRTXVertex backs FY16 net product revenue guidance for KALYDECO of $670M-$690M
Vertex expects to provide net product revenue guidance for ORKAMBI during 2016 after gaining additional information on the launch of ORKAMBI in the U.S.
16:04 EDTVRTXVertex reports Q4 EPS 17c, consensus 17c
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14:34 EDTVRTXNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Facebook (FB), consensus 68c... Qualcomm (QCOM), consensus 90c... Texas Instruments (TXN), consensus 69c... McKesson (MCK), consensus $3.13... PayPal (PYPL), consensus 35c... Las Vegas Sands (LVS), consensus 65c... eBay (EBAY), consensus 50c... Crown Castle (CCI), consensus $1.10... Vertex (VRTX), consensus 17c... Discover (DFS), consensus $1.30... SanDisk (SNDK), consensus 89c... ServiceNow (NOW), consensus 8c... Lam Research (LRCX), consensus $1.43... Citrix Systems (CTXS), consensus $1.19... Hologic (HOLX), consensus 42c... Juniper (JNPR), consensus 59c... Cavium (CAVM), consensus 28c... Cirrus Logic (CRUS), consensus 81c.
11:27 EDTVRTXOptions with increasing call volume
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11:20 EDTPIRBed Bath & Beyond slips after Citi, Keybanc both say sell
Home goods retailer Bed Bath & Beyond (BBBY) is declining in late morning trading after being downgraded to Sell-equivalent ratings at both Keybanc and Citi. WHAT'S NEW: KeyBanc analyst Bradley Thomas downgraded Bed Bath & Beyond to Underweight from Sector Weight after his firm's work on housing showed growth has slowed. The analyst noted that the home furnishings sector is growing increasingly competitive, and he took a more cautious view on Hardline retailers whose growth is predicated primarily on same-store sales. Thomas kept a $35 price target on shares of Bed Bath & Beyond. Citi analyst Kate McShane downgraded Bed Bath & Beyond to Sell from Neutral on expectations the retailer's earnings will continue to decline over the next two years. McShane also noted that competition in home furnishings remains intense, while Bed Bath's e-commerce operations continue to be unprofitable. McShane cut her price target for the shares to $37 from $51. OTHERS TO WATCH: The analysts, in their respective notes, also opined on Bed Bath & Beyond's peers. Keybanc's Thomas downgraded Haverty Furniture (HVT) and Pier 1 Imports (PIR) to Sector Weight from Overweight. Meanwhile, Citi's McShane recommended a pair trade of long Dick's Sporting Goods (DKS), which the firm is Overweight on due to valuation, and short Bed Bath & Beyond. PRICE ACTION: Shares of Bed Bath & Beyond are down 1.6% to $43.34, while Haverty Furniture and Pier 1 Imports are down 3.8% and 3.9%, respectively. Dick's Sporting Goods, meanwhile, is down 0.7% to $37.84.
10:23 EDTMUOptions with decreasing implied volatility
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10:04 EDTVRTXHigh option volume stocks: RDN TRXC EEFT CVLT VRTX
10:00 EDTPIROn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: BG Group (BRGYY) downgraded to Neutral from Outperform at Credit Suisse... Bed Bath & Beyond (BBBY) downgraded to Sell from Neutral at Citi... Bill Barrett (BBG) downgraded to Neutral from Buy at Ladenburg... Brown & Brown (BRO) downgraded to Underweight at Morgan Stanley... Buffalo Wild Wings (BWLD) downgraded to Neutral from Buy at BTIG... Canadian National (CNI) downgraded to Market Perform from Outperform at Raymond James... DreamWorks (DWA) downgraded to Sell from Hold at Topeka... FirstMerit (FMER) downgraded at RBC Capital... Gentex (GNTX) downgraded to Neutral from Outperform at Baird... Haverty Furniture (HVT) downgraded to Sector Weight from Overweight at KeyBanc... Hercules Technology (HTGC) downgraded to Neutral from Buy at Compass Point... Horizon Technology (HRZN) downgraded to Market Perform from Outperform at Raymond James... Installed Building downgraded to Sector Weight from Overweight at KeyBanc... Jarden (JAH) downgraded to Neutral from Buy at Citi... K+S (KPLUF) downgraded to Sell from Hold at Berenberg... La-Z-Boy (LZB) downgraded at BB&T... Legacy Reserves (LGCY) downgraded to Market Perform from Outperform at FBR Capital... Medivation (MDVN) downgraded to Hold from Buy at Canaccord... Merck (MRK) downgraded to Neutral from Buy at BofA/Merrill... Metaldyne Performance (MPG) downgraded to Neutral from Outperform at Baird... Pier 1 Imports (PIR) downgraded to Sector Weight from Overweight at KeyBanc... Priceline (PCLN) downgraded to Neutral from Buy at Goldman... Profire Energy (PFIE) downgraded to Neutral from Buy at Chardan... Regeneron (REGN) downgraded to Hold at Canaccord... Starwood (HOT) downgraded to Underperform from Outperform at CLSA... Swiss Re (SSREY) downgraded to Equal Weight from Overweight at Morgan Stanley... TSYS (TSS) downgraded to Equal-Weight from Overweight at First Analysis... Talmer Bancorp (TLMR) downgraded to Sector Perform from Outperform at RBC Capital... TopBuild (BLD) downgraded to Sector Weight from Overweight at KeyBanc... TripAdvisor (TRIP) downgraded to Sell from Neutral at Goldman... VMware (VMW) downgraded to Hold from Buy at Summit Research... W.R. Grace (GRA) downgraded to Buy from Conviction Buy at Goldman... WEC Energy (WEC) downgraded to Neutral from Conviction Buy at Goldman... Welltower (HCN) downgraded to Underperform from Market Perform at BMO Capital... Yamana Gold (AUY) downgraded to Neutral from Overweight at JPMorgan.
05:49 EDTPIRBed Bath & Beyond downgraded to Underweight from Sector Weight at KeyBanc
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05:48 EDTPIRPier 1 Imports downgraded to Sector Weight from Overweight at KeyBanc
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January 26, 2016
17:21 EDTVRTXVertex announces Health Canada approved PrORKAMBI
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10:34 EDTRHTBattleground: BofA says sell NetSuite, DA Davidson still bullish
Over the last two days, analysts have issued mixed views on NetSuite (N), with Bank of America Merrill Lynch and Stephens downgrading the shares, while research firm DA Davidson argued in its own note to investors that the company should report better than expected fourth quarter results on January 28. NetSuite develops cloud based financial and enterprise resource planning, or ERP, tools for businesses. BEARISH TAKE: Bank of America Merrill Lynch analyst Kash Rangan downgraded NetSuite to Underperform, the firm's equivalent of a sell rating, from Neutral today. The company has increased its sales force by about 40%, but its billings are accelerating by only about 30%, the analyst stated. Moreover, NetSuite's operating margins are expected to come in at only about 4% in 2016, making it difficult for investors to value the stock on a price to earnings or enterprise value to free cash flow basis, Rangan believes. The stock may face obstacles if its billings growth doesn't accelerate significantly or if its operating margin doesn't increase to 10%-12%, Rangan wrote. Meanwhile, the company is facing tough competition from Microsoft (MSFT) in the mid-market and from other players at the lower end, according to the analyst, who cut his price target on the name to $80 from $95. Also writing that NetSuite is facing increased competition, Stephens analyst Alex Zukin yesterday downgraded the stock to Equal Weigh from Overweight. These competitive pressures along with changes to the company's organizational structure, the loss of a number of its "marquee" customers, and its premium valuation, led to the downgrade, Zukin stated. He slashed his price target on the stock to $75 from $100. BULLISH TAKE: NetSuite's Q4 results should beat expectations, with revenue coming in at $207.6M, above the company's guidance range of $202M-$205M and the consensus outlook of $204.4M, predicted DA Davidson analyst Jack Andrews. The company will report EPS of 5c, versus the consensus outlook of 4c, estimated Andrews. NetSuite can continue to increase its market share at the expense of mid-tier ERP vendors, believes the analyst, who reiterated a $130 price target and Buy rating on the shares. WHAT'S NOTABLE: In the same note to investors this morning, Merrill Lynch's Rangan also downgraded Paylocity (PCTY) and Marketo (MKTO) to Underperform from Neutral and it cut his rating on Red Hat (RHT) to Neutral from Buy. Paylocity provides payroll and human capital management software to medium businesses, while Marketo provides cloud-based marketing tools and Red Hat provides open source software solutions. PRICE ACTION: In early trading, NetSuite fell 3.6% to $65.45.
10:32 EDTRADOptions with increasing implied volatility: CLDX SNDK GMCR RAD
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07:29 EDTVRTXChecks indicate worries over Vertex Orkambi overdone, says Stifel
After conducting checks with cystic fibrosis doctors, Stifel says the checks indicate that the Street's worries regarding Orkambi uptake, adherence, and persistence are overdone. The firm remains upbeat on the drug's longer term outlook and keeps a $160 price target and Buy rating on the shares.
07:11 EDTRHTRed Hat downgraded to Neutral from Buy at BofA/Merrill
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