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06:50 EDTVZ, DIS, FOXA, CMCSADisney, Fox refuse to run FiOS commercials, NY Times says
Disney (DIS) and 21st Century Fox (FOXA) are refusing to run commercials for Verizon (VZ) FiOS' slimmed down, a la carte package on a number of their stations, according to The New York Times. Disney, Fox and Comcast (CMCSA) have objected to FiOS' new offering, the news service stated. Reference Link
06:49 EDTMETRMetro Bancorp downgraded to Sector Perform from Outperform at RBC Capital
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06:45 EDTNKENike downgraded to Hold from Overweight at HSBC
HSBC downgraded Nike to Hold and lowered its price target to $104 from $107. The firm said Nike's valuation remains impressive but believes estimates are unlikely to move significantly higher given FX impact and downgraded shares due to valuation.
06:45 EDTFX Update: EUR-USD U-turned lower from a 17-day high on Greece news
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06:43 EDTREGNRegeneron price target raised to $527 from $445 at Leerink
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06:40 EDTNDAQNASDAQ downgraded to Sector Perform from Outperform at Portales
06:40 EDTOCROmnicare downgraded to Sector Perform from Outperform at RBC Capital
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06:39 EDTUBSUBS betting on euro zone, Reuters reports
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06:38 EDTHMHCHoughton Mifflin additional $100M under existing share repurchase program
HMH’s board has authorized an additional $100M under the company’s existing share repurchase program, bringing the total authorization to $200M. The share repurchase program may be executed over a period of two years from the program’s original authorization
06:38 EDTHMHC, SCHLHoughton Mifflin to acquire Scholastic's Educational Tech & Services business
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06:38 EDTUBNTUbiquiti Networks downgraded to Market Perform from Outperform at BMO Capital
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06:36 EDTAERIAerie Pharmaceuticals downgraded to Hold from Buy at Canaccord
Canaccord downgraded Aerie Pharmaceuticals to Hold after Rhopressa, the company's lead glaucoma candidate, missed the primary endpoint in a Phase 3 trial. Note Cantor Fitzgerald also downgraded shares this morning.
06:36 EDTAMZNAmazon.com price target raised to $460 from $430 at Citigroup
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06:35 EDTMerkel says Greece must be prevented from running out of cash, Reuters says
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06:35 EDTIMGNImmunoGen lowers FY15 revenue view to $85M-$95M from $100M-$105M
Consensus for FY15 revenue is $101.12M. Backs FY15 net loss view of $60M-$65M. Raises FY15 cash and cash equivalents at June 30 to $265M-$275M from $75M-$85M.
06:35 EDTWBCWABCO downgraded to Neutral from Buy at Longbow
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06:34 EDTNPBCNational Penn reports Q1 EPS 19c, consensus 18c
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06:34 EDTCLBCore Laboratories upgraded to Outperform from Sector Perform at Iberia
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06:33 EDTBBarnes Group raises FY15 EPS to $2.45-$2.60 from $2.42-$2.57, consensus $2.50
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06:33 EDTSCHL, HMHCScholastic to sell EdTech business to Houghton Mifflin for $574M in cash
Scholastic announced that it has entered into a definitive agreement to sell its Educational Technology, or EdTech, business to Houghton Mifflin Harcourt for $575M in cash. EdTech had $249M in revenues and $40M in operating income in FY14. Revenues were $175M and operating income was $17M for the first nine months of the current fiscal year ending May 31. Scholastic expects net proceeds from the sale, after taxes, transaction fees, and other expenses, of approximately $360M-$370M. The transaction will enable Scholastic to focus on its core businesses by deepening relationships with its primary customers – teachers, parents, children, and schools. The Company plans to reinvest the proceeds from the sale in its Children's Book Publishing and Distribution, Classroom and Supplemental Materials Publishing, and International business segments, while continuing to return capital to shareholders over time. The management team of the Educational Technology and Services business, including its President Margery Mayer, is expected to remain with the business as part of HMH. The business' approximate 800 employees are also expected to join HMH upon transaction close. The transaction is expected to close in Q2.
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