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April 24, 2012
06:14 EDTNSRGY, GM, VIVHY, AAPL, WMT, PFE, ADBEOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: The Mexican government said it won't investigate Wal-Mart de Mexico SAB (WMT) amid allegations that the company paid bribes in Mexico to speed permits for new store openings, the Wall Street Journal reports...GM (GM) CEO Dan Akerson said he will lead the company until "the board has had enough of me," and that he prefers his successor to come from within the company, the Wall Street Journal reports...Adobe Systems (ADBE) is reinventing itself as a one-stop technology shop for marketing departments, the Wall Street Journal reports..REUTERS: China's capital rules ban its citizens from investing directly in Apple (AAPL) so they're seeking a part of the iPhone maker's success by buying shares in its suppliers, Reuters reports...BLOOMBERG: Nestle (NSRGY) may sell up to $1.8B of the infant nutrition assets it is buying from Pfizer (PFE) as antitrust concerns in some countries force divestitures, sources say, Bloomberg reports...Vivendi's (VIVHY) Universal Music Group has received interest from companies including Providence Equity Partners and Bertelsmann AG for music-publishing catalogs itís selling, sources say, Bloomberg reports.
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September 24, 2015
07:33 EDTPFEBIND says Pfizer exercises option to obtain license for Accurin drug candidate
BIND Therapeutics (BIND) announced that Pfizer (PFE) exercised its option to obtain an exclusive license to develop and commercialize an Accurin drug candidate for the treatment of solid tumors under the companies' global collaboration agreement. The actively targeted Accurin is designed to impart cellular targeting capability and was engineered by BIND using one of Pfizer's proprietary kinase inhibitors and one of BIND's proprietary ligands. As a result of the option exercise, BIND will receive a $2.5 million option exercise fee from Pfizer. In parallel with exercising its first option, Pfizer informed BIND that it will not exercise its option for the second compound in the collaboration. Under terms of the original collaboration agreement, which was established in April 2013, Pfizer was granted options to obtain exclusive licenses to pursue development and commercialization of two Accurins that incorporate specified Pfizer small molecular targeted therapies. For the Accurin that has been selected, both companies will work together on preclinical research; Pfizer will have responsibility for development and commercialization, and BIND will conduct chemistry, manufacturing and control activities. In addition to the $2.5 million option exercise fee, BIND received an upfront payment of $4.0 million in 2013 and achieved a $1.0 million preclinical development milestone for the selected Accurin in December 2014. BIND has the potential to receive additional milestone payments for the selected Accurin of up to $86.0 million in aggregate upon the achievement of additional specified development and regulatory events under the Pfizer collaboration agreement. BIND may also receive additional milestone payments for the selected Accurin of up to $110 million in aggregate for specified commercial events as well as royalties in the low single to high single digit percentages on potential future sales of the selected Accurin, if any.
07:20 EDTAAPLApple well positioned to introduce a car, says Jefferies
Jefferies analyst Sundeep Bajikar says his analysis indicates the automobile industry is "ripe for disruption" and that Apple (AAPL) is well positioned to introduce a car, potentially as early as 2019. A car could add 32c to Apple's earnings per share in FY19 under a best-case scenario, Bajikar tells investors in a research note. He assumes a $55,000 car price and an operating margin of 20%, over 1,000 basis points higher than the Street's 2019 margin estimate for electric carmaker Tesla (TSLA). Investors are likely to find the assumptions "highly aggressive," the analyst cautions. Meanwhile, the potential earnings impact is probably not big enough for Apple investors to get excited, Bajikar argues. However, he says he could get more constructive on Apple shares if diversification in earnings were to drive less iPhone risk. Bajikar keeps a Hold rating on the iPhone maker with a $126 price target. Apple closed yesterday up 92c to $114.32.
06:34 EDTAAPLApple 'A10' processor may switch to six-cores, AppleInsider reports
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06:08 EDTAAPLSamsung Pay has over $30M in accumulated transaction volume in first month
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September 23, 2015
20:08 EDTAAPLChinese president visits U.S. amid cybersecurity, copyright worries
As part of his first official U.S. visit, Chinese president Xi Jinping held a meeting with American business leaders on Wednesday to address concerns of copyright infringement and cybersecurity, among numerous topics. In attendance were corporate giants from both nations, including Microsoft (MSFT), Apple (AAPL), Amazon (AMZN), Cisco (CSCO), Alibaba (BABA), Tencent (TCEHY), and Baidu (BIDU), according to media reports. COPYRIGHT CONCERNS: Responding to oft-cited concerns of copyright infringement by Chinese companies, Xi said China will "stand firm to protect" the intellectual property rights of American companies, according to Wall Street Journal coverage of the event. Note that in late 2014, China began establishing specialized courts to deliberate on intellectual property rights cases, and Xi commented Wednesday that "the newly established IPR courts are working smoothly. This means there will be much stronger IPR protection which will serve the interests of foreign businesses as well as Chinese companies." Chinese consumer electronics company Xiaomi is perhaps the most talked-about firm when it comes to the matter, with media outlets frequently criticizing its alleged "copying" of Apple design sensibilities. In mid-July, Xiaomi VP of global operations Hugo Barra told Bloomberg that the company is preparing to enter U.S. markets, though he cautioned that the launch could be "much more" than a year away as it seeks to build up its patent portfolio. CYBERSECURITY TENSIONS: Wednesday's meeting comes in the wake of numerous high-profile "hack attacks," with Sony (SNE), American Airlines (AAL), Anthem (ANTM), United Airlines (UAL), and Target (TGT) all reporting digital security breaches in recent years. Xi has consistently denied the involvement of state-backed hackers, but tensions have nevertheless arisen as cybersecurity firms such as FireEye (FEYE) and Palo Alto Networks (PANW) backtrace connections to the country. Cybersecurity intrusions originating from China have recently slowed ahead of Xi's visit, according to Reuters, with Kevin Mandia of security firm Mandiant telling the publication, "In my gut, I feel like the Chinese and the U.S. over the next couple of years are going to figure this out."
19:07 EDTGMStudy shows U.S. cars less safe than EU vehicles, Independent says
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18:14 EDTWMTWal-Mart seeks 2%-6% cuts on China-made goods from suppliers, Reuters says
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18:06 EDTWMTWal-Mart seeks 2%-6% cuts on China-made goods from suppliers, Reuters says
16:00 EDTAAPLOptions Update; September 23, 2015
iPath S&P 500 VIX Short-Term Futures down 53c to 23.81 Option volume leaders: AAPL NFLX BAC FB BABA DOW RIG MU FCX PBR XOM JPM
15:27 EDTAAPLAlibaba unveils low-priced, payments-focused smartwatch, VentureBeat reports
Alibaba (BABA) has unveiled Pay Watch, a smartwatch to be priced at $160 and lower that supports mobile payments through the company's Alipay platform, said VentureBeat, which notes that there is still no official English-language announcement on the device. Some health features are also being advertised and comparisons to Apple's (AAPL) Watch "seem inevitable," though "certainly not on price," the blog added. Reference Link
13:06 EDTNSRGYNestle, AC Immune partner to develop new test for Alzheimer's
Nestle's Institute of Health Sciences has entered into an agreement with biopharmaceutical company AC Immune to develop a new, minimally invasive method of diagnosing Alzheimer's disease in its initial stages. Through the partnership, scientists will use exclusive NIHS technology that can measure certain biomarkers in the blood associated with cognitive decline. Reference Link
11:19 EDTAAPLApple security breach larger than first thought, Sky News says
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10:20 EDTADBEOptions with decreasing implied volatility
Options with decreasing implied volatility: CVC HRTX NWBO ATML RHT KMX OVTI ADBE ORCL DRI
10:00 EDTVIVHYOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Baidu (BIDU) upgraded to Buy from Underperform at CLSA... BioMed Realty (BMR) upgraded to Buy from Hold at Canaccord... Carnival (CCL) upgraded to Buy from Neutral at Nomura... (CTRP) upgraded to Buy from Outperform at CLSA... Daktronics (DAKT) upgraded to Buy from Hold at Needham... FMC Corporation (FMC) upgraded to Buy from Hold at Jefferies... Finish Line (FINL) upgraded to Outperform from Market Perform at FBR Capital... Intel (INTC) upgraded on potential PC, client business rebound at Bernstein... MTN Group (MTNOY) upgraded to Neutral from Sell at Goldman... Mitcham Industries (MIND) upgraded to Buy from Neutral at Sidoti... Parker Drilling (PKD) upgraded to Buy from Neutral at Sidoti... Raytheon (RTN) upgraded on international outlook at Bernstein... Regional Management (RM) upgraded to Buy from Hold at Jefferies... Vivendi (VIVHY) upgraded to Hold from Underperform at Jefferies... Wolverine World Wide (WWW) upgraded to Neutral from Sell at Citi.
09:33 EDTAAPLActive equity options trading on open: AAPL BBRY BIDU BIIB
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09:24 EDTAAPLT-Mobile announces $5 per month offer on iPhone 6s
On the cusp of iPhone 6s and iPhone 6s Plus availability, T-Mobile unveiled a $5 a month for iPhone 6s 16GB and $9 a month for iPhone 6s Plus 16GB with JUMP! On Demand and trade-in of an iPhone 6 or iPhone 6 Plus. T-Mobile's new pricing builds on the Un-carrier's straightforward $20 a month for a new iPhone 6s 16GB with JUMP! On Demand without a trade-in.
09:18 EDTAAPL, GMPaulson Institute and CCPIT to co-host U.S.-China Business Roundtable
The Paulson Institute and the China Council for the Promotion of International Trade (CCPIT) provide an opportunity for U.S. and Chinese business leaders to discuss issues facing the two countries in a roundtable being held in Seattle, Washington on September 23.
07:28 EDTAAPLApple installment plans may accentuate seasonality, says UBS
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05:32 EDTPFEViiV Healthcare announces Triumeq Phase IIIb study met primary endpoint
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05:20 EDTVIVHYVivendi upgraded to Hold from Underperform at Jefferies
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