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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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August 31, 2015
13:08 EDTXOMExxon Mobil volatility elevated as WTI oil rally's 4% to $47
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10:01 EDTBOBEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: 58.com (WUBA) upgraded to Overweight from Underweight at Morgan Stanley... AU Optronics (AUO) upgraded to Outperform from Underperform at Bernstein... Asbury Automotive (ABG) upgraded to Neutral from Underperform at Buckingham... Astec (ASTE) upgraded on upcoming catalysts at Stifel... Baidu (BIDU) upgraded to Buy from Hold at Jefferies... Bob Evans (BOBE) upgraded to Sector Weight from Underweight at KeyBanc... CNOOC (CEO) upgraded to Buy from Neutral at BofA/Merrill... Dover (DOV) upgraded on valuation, headwinds bottom at Bernstein... Envestnet (ENV) upgraded to Outperform from Market Perform at Avondale... Generac (GNRC) upgraded to Outperform from Market Perform at William Blair... Gold Fields (GFI) upgraded to Sector Perform from Underperform at Scotia Howard Weil... Goldman Sachs (GS) upgraded to Buy from Hold at Evercore ISI... Intel (INTC) upgraded to Outperform from Market Perform at Northland... J.C. Penney (JCP) upgraded to Buy from Hold at Deutsche Bank... Leggett & Platt (LEG) upgraded to Outperform from Market Perform at Raymond James... Morgan Stanley (MS) upgraded to Buy from Hold at Evercore ISI... Newmont Mining (NEM) upgraded to Outperform from Sector Perform at Scotia Howard Weil... Pan American Silver (PAAS) upgraded to Outperform at Scotia Howard Weil... QLogic (QLGC) upgraded to Buy from Hold at Summit Research... Stanley Black & Decker (SWK) upgraded to Outperform from Neutral at Macquarie... Telefonica Brasil (VIV) upgraded to Overweight from Equal Weight at Morgan Stanley... Tenet (THC) upgraded to Outperform from Market Perform at BMO Capital... Twitter (TWTR) upgraded to Buy from Neutral at SunTrust... UIL Holdings (UIL) upgraded to Hold from Sell at Argus... Vocera (VCRA) upgraded to Outperform from Market Perform at Leerink... Wisconsin Energy (WEC) upgraded to Conviction Buy from Buy at Goldman.
09:35 EDTXOMActive equity options trading on open
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August 30, 2015
22:15 EDTBOBEBob Evans upgraded to Sector Weight from Underweight at KeyBanc
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15:07 EDTXOMExxon Mobil could be a long-term oil play, Barron's says
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August 28, 2015
13:31 EDTXOMExxon Mobil volatility elevated as WTI oil rally's 7% to $45
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07:34 EDTBOBEBob Evans names Doug Benham as executive chair
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August 27, 2015
09:09 EDTXOMExxon Mobil volatility elevated as shares trade near four-year low
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August 26, 2015
07:09 EDTARWRVertex, Novavax among select biotechs to buy on weakness, says Piper Jaffray
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August 25, 2015
13:24 EDTXOMJudge approves $225M settlement in Exxon Mobil pollution case, AP says
A Superior Court judge has approved a $225M settlement between the state of New Jersey and Exxon Mobil related to pollution at oil refineries and retail gas stations, saying the deal is less than the $8.9B originally sought by the state but still a "reasonable compromise," reports the Associated Press. Reference Link
August 23, 2015
17:49 EDTXOMIran to increase oil production as BP, Shell express interest, Bloomberg says
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August 21, 2015
16:01 EDTXOMOptions Update; August 21, 2015
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August 20, 2015
06:10 EDTXOMAuction for drilling leases attracts little interest, NY Times reports
A federal auction for drilling leases in the Gulf of Mexico Wednesday attracted only $22.7M in sales from five companies, the lowest since 1986, reports the New York Times. Most companies have insisted they would not sacrifice production in future years, but executives have recently expressed concern that the oil price collapse could last through 2016 and possibly even 2017. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
August 19, 2015
16:00 EDTXOMOptions Update; August 19, 2015
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08:12 EDTBOBEBob Evans repeats FY16 adjusted EPS view $1.75-$1.95, consensus $1.85
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August 18, 2015
07:23 EDTMXWLBWS Financial to hold a conference
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August 17, 2015
08:11 EDTXOMExxon Mobil volatility flat as oil trades near six-year low
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06:22 EDTARWRPiper's Tenthoff sees select biotech names outperforming in second half
Piper Jaffray analyst Edward Tenthoff expects drug launches, clinical data read-outs and potential partnerships to drive outperformance for select biotech names in the second half of 2015. Despite some recent profit-taking, 2015 has been another strong year for biotech stocks, Tenthoff tells investors in a research note. Names with important second half of the year catalysts include Vertex (VRTX), Regeneron (REGN), Seattle Genetics (SGEN), Exelixis (EXEL), Sarepta (SRPT), Novavax (NVAX), Arrowhead (ARWR), Array BioPharma (ARRY), Alnylam (ALNY), Genocea (GNCA), CymaBay (CBAY), Idera Pharmaceuticals (IDRA), Vitae Pharmaceuticals (VTAE).

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