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Stock Market & Financial Investment News

News Breaks
March 5, 2014
12:41 EDTXOM, PETM, ARWR, MXWL, XOMA, BOBEOn 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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October 10, 2014
12:11 EDTARWROptions with increasing implied volatility
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October 9, 2014
13:47 EDTXOMICSID: Venezuela must pay Exxon $1.6B for nationalizations
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11:00 EDTARWROptions with increasing implied volatility
Options with increasing implied volatility: ARWR PBR EXXI PWE GST GLNG WTW AFSI ETE VALE
10:00 EDTARWROn The Fly: Analyst Downgrade Summary
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09:08 EDTXOMAXOMA initiates dosing in XOMA 358 Phase 1 study
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08:38 EDTARWRArrowhead price target lowered to $12 from $24 at Piper Jaffray
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08:33 EDTARWRArrowhead issues letter to shareholders regarding ARC-520
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06:18 EDTARWRArrowhead downgraded to Sector Perform from Outperform at RBC Capital
RBC Capital downgraded Arrowhead to Sector Perform citing low-end efficacy in the AASLD abstract. Price target lowered to $9.
05:50 EDTARWRStocks with implied volatility movement; ARWR TKMR
Stocks with implied volatility movement; Arrowhead (ARWR) 158, Tekmira (TKMR) 130 according to iVolatility.
October 8, 2014
16:26 EDTARWROn The Fly: Closing Wrap
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13:12 EDTARWRArrowhead risk/reward favorable, says Deutsche Bank
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11:48 EDTARWRArrowhead sell-off overdone, long-term view unchanged, says Jefferies
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11:10 EDTARWROptions with increasing implied volatility
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10:55 EDTARWRArrowhead ARC-520 treatment effect much lower than expected, TheStreet says
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10:46 EDTARWRArrowhead plunges after HepB data abstract posted
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October 7, 2014
07:27 EDTXOMEU repreive on oil sands label a victory for Canada, WSJ says
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October 6, 2014
13:01 EDTXOMAXOMA, Texas A&M University System agree to non-exclusive license
The Texas A&M University System and XOMA announced that the Texas A&M University System agreed to a non-exclusive license for XOMA's innovative design of a manufacturing facility. The patented technology relates to an arrangement of mobile clean rooms within the manufacturing facility with each MCR providing a portable, self-contained environment that allows for drug development. The A&M System will use MCRs for certain government programs at The National Center for Therapeutics Manufacturing facility. Details of the license were not disclosed.
10:04 EDTPETMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abercrombie & Fitch (ANF) downgraded to Neutral from Overweight at Piper Jaffray... Air France-KLM (AFLYY) downgraded to Neutral from Buy at Citigroup... BAE Systems (BAESY) downgraded to Hold from Buy at Societe Generale... Buffalo Wild Wings (BWLD) downgraded to Neutral from Outperform at Wedbush... Church & Dwight (CHD) downgraded to Underweight from Equal Weight at Barclays... Colgate-Palmolive (CL) downgraded to Equal Weight from Overweight at Barclays... Deckers Outdoor (DECK) downgraded to Neutral from Overweight at Piper Jaffray... Delhaize (DEG) downgraded to Hold from Buy at Deutsche Bank... Fortinet (FTNT) downgraded to Equal Weight from Overweight at Morgan Stanley... McDonald's (MCD) downgraded to Equal Weight from Overweight at Morgan Stanley... Midcoast Energy (MEP) downgraded to Neutral from Buy at UBS... Mobileye (MBLY) downgraded to Market Perform from Outperform at Raymond James... Myers Industries (MYE) downgraded to Neutral from Buy at CL King... Nationstar (NSM) downgraded to Underperform from Market Perform at Keefe Bruyette... PTC Therapeutics (PTCT) downgraded to Market Perform at Cowen... PetSmart (PETM) downgraded to Equal Weight from Overweight at Barclays... Qlik Technologies (QLIK) downgraded to Equal Weight from Overweight at Morgan Stanley... Subsea 7 (SUBCY) downgraded to Neutral from Outperform at Exane BNP Paribas... Tekmira (TKMR) downgraded to Market Perform from Outperform at ... XL Group (XL) downgraded to Market Perform from Outperform at FBR Capital... Xoom (XOOM) downgraded to Underweight from Equal-Weight at Evercore.
07:09 EDTMXWLAmerican Trucking Association to hold a conference
2014 ATA Management Conference is being held in San Diego on October 4-7.
05:34 EDTPETMPetSmart downgraded to Equal Weight from Overweight at Barclays
Barclays downgraded PetSmart to Equal Weight citing the recent rally in shares as well as the company's weak traffic and deteriorating margins. The firm sees share downside should management choose to not pursue a strategic alternative. In the event of a sale, Barclays sees a potential price of $80 per share, however. It lowered its price target for PetSmart to $70 from $75.
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