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Stock Market & Financial Investment News

News Breaks
March 5, 2014
12:41 EDTBOBE, ARWR, XOMA, PETM, MXWL, XOMOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with the Nasdaq leading and the Dow lagging. The averages have hovered in a narrow range around the flat-line, though consolidation is not necessarily surprising after yesterday’s powerful advance. The market has seen little volatility today despite the continued threat of an escalation of the situation in Ukraine. ECONOMIC EVENTS: In the U.S., ADP reported private payrolls rose 139K in February, which was below the expectation for 150K job additions. The ISM services index dropped to 51.6 in February, versus expectations for a more modest pullback to 53.5. The Federal Reserve is scheduled to release its latest "Beige Book" report on economic activity at 2:00 pm ET. In Europe, Eurostat's second estimate of fourth quarter growth in the region showed GDP rose by 0.3% in the eurozone countries and by 0.4% in the EU28, both of which were up from the prior quarter. Other data released overnight showed a surprise rebound in eurozone retail sales and an upward revision to the eurozone composite PMI. COMPANY NEWS: Energy major Exxon Mobil (XOM) slid 3% as the company hosted its annual analyst meeting and said it expects to invest $39.8B in 2014 but also forecast that its total production will be flat this year... Shares of PetSmart (PETM) fell 2% despite the company reporting better than expected fourth quarter earnings. Revenue for the pet goods and services retailer, however, fell short of expectations, as did the company's earnings outlook for its current quarter. On its earning call, PetSmart acknowledged that the start of its first quarter has been "challenged" due to weather, but also said it is seeing a "meaningful" difference in results between stores in weather-impacted markets and those where weather is less of a factor. MAJOR MOVERS: Among the notable gainers was Arrowhead Research (ARWR), which rose 25% after the company's shares were initiated with a Buy rating at Deutsche Bank and with an Outperform rating at RBC Capital. Also higher was Maxwell Technologies (MXWL), which was 22% higher after Piper Jaffray raised its price target on shares to $21 from $11. Among the noteworthy losers was drug maker XOMA (XOMA), which fell 26% after saying its does not intend to launch pivotal development for the broad erosive osteoarthritis of the hand, or EOA, indication for a drug based on the results of its Phase 2 trial program. Also lower were shares of restaurant operator and packaged foods maker Bob Evans (BOBE), which fell over 8% after the company's third quarter earnings missed estimates and it lowered its fiscal 2014 outlook. INDEXES: Near midday, the Dow was down 36.66, or 0.22%, to 16,359.22, the Nasdaq was up 5.76, or 0.13%, to 4,357.73, and the S&P 500 was little changed near 1,873.93.
News For XOM;PETM;ARWR;MXWL;XOMA;BOBE From The Last 14 Days
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November 19, 2014
10:41 EDTPETMPetSmart says working on pricing strategy, rolling out new pricing tool in Q1
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10:12 EDTPETMPetSmart says will not take questions on strategic alternatives exploration
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10:00 EDTPETMOn The Fly: Analyst Upgrade Summary
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09:16 EDTPETMOn The Fly: Pre-market Movers
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07:28 EDTPETMPetSmart upgraded to Neutral from Underperform at BofA/Merrill
BofA/Merrill upgraded PetSmart to Neutral based on cost savings initiatives. Price target raised to $80 from $55.
06:03 EDTPETMSources: KKR, CD&R team up to take PetSmart private, Reuters reports
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November 18, 2014
22:39 EDTPETMPetSmart technical notes ahead of results
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18:26 EDTXOMKeystone pipeline legislation voted down by U.S. Senate
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18:23 EDTPETMOn The Fly: After Hours Movers
UP AFTER EARNINGS: La-Z-Boy (LZB), up 4.7% after reporting second quarter results and dividend increase... Jack in the Box (JACK), up 2.7%... PetSmart (PETM), up 1.9%. ALSO HIGHER: Popeyes Louisiana Kitchen (PLKI), up 1.6% after Red Mountain Capital Partners reported a 5.1% stake in the company. DOWN AFTER EARNINGS: Vipshop Holdings (VIPS), down 4.6%. ALSO LOWER: Cloud Peak (CLD), down 1.7% after filing to sell $100M of mandatory convertible preferred stock.
17:37 EDTPETMPetSmart up 1.5% to $74.69 after reporting Q3 earnings, guidance
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17:23 EDTPETMPetSmart sees FY15 SSS growth in the low-single digits
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17:22 EDTPETMPetSmart sees Q4 EPS $1.34-$1.38, consensus $1.37
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17:21 EDTPETMPetSmart sees FY14 EPS $4.39-$4.43 , consensus $4.33
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17:18 EDTPETMPetSmart reports Q3 EPS $1.02, consensus 94c
Reports Q3 revenue $1.7B, consensus $1.73B.
15:21 EDTPETMNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Vipshop Holdings (VIPS), consensus 7c; M/A-Com Technology (MTSI), consensus 33c; La-Z-Boy (LZB), consensus 34c; PetSmart (PETM), consensus 94c; Jack in the Box (JACK), consensus 53c.
13:51 EDTPETMPetSmart technical notes ahead of results
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07:32 EDTARWRArrowhead files for regulatory permission to begin Phase I ARC-AAT trial
Arrowhead Research recently filed an application for approval to begin a Phase 1 clinical trial of its RNAi-based therapeutic candidate, ARC-AAT, for the treatment of liver disease associated with alpha-1 antitrypsin deficiency. Pending approval, Arrowhead intends to proceed with a double blind, placebo-controlled dose escalation, Phase 1 study to determine the safety, tolerability, pharmacokinetics and effect on circulating alpha-1 antitrypsin levels of ARC-AAT in healthy volunteers and patients with alpha-1 antitrypsin deficiency. The study is planned to start in Australia in healthy volunteers and will dose escalate until predetermined levels of alpha-1 antitrypsin reduction are reached. Once these levels of protein knockdown are achieved, the study will transition into a population of patients with ZZ genotype alpha-1 antitrypsin deficiency to further evaluate escalating doses of ARC-AAT. The study is designed to enroll up to 48 subjects, including healthy volunteers and alpha-1 antitrypsin deficiency patients. The application was submitted to an ethics committee in compliance with the Clinical Trial Notification process of the Australian Department of Health and Ageing, Therapeutic Goods Administration.
November 17, 2014
19:12 EDTMXWLMaxwell management to meet with Piper Jaffray
Meeting to be held in New York on November 19 hosted by Piper Jaffray.
07:12 EDTXOMBloomberg / Mayer Brown to co-host a conference
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November 14, 2014
17:27 EDTPETMPaulson & Co. gives quarterly update on stakes
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