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11:12 EDTSUNE, TERP, GLBL, FSLR, SPWRJPMorgan says buy SunEdison after recent pullback
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11:07 EDTMMacy's announces collaboration with Nineteenth Amendment
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11:05 EDTToday's U.S. reports
Today's U.S. reports revealed further evidence of a renewed downturn in producer sentiment in August in the face of petroleum price declines, an inventory overhang, and disruptions in China, hence providing a negative spin for the August data as analysts approach Friday's jobs report. Analysts saw a small Chicago PMI decline to 54.4 from 54.7 as analysts partly reversed July's limited retooling boost for this auto-sensitive survey, while the Dallas Fed index plunged to -15.8 in August from -4.6, with an ISM-adjusted drop to 48.2 from 50.4, as the petro-sector recession continues. Downside risk for Friday was capped by gains in the two employment gauges from the Dallas survey, but when analysts combine today's weakness with declines in the Empire State and Richmond Fed surveys, it appears that the factory sector will remain in the doldrums through Q3 even as GDP and industrial production rebound.
11:03 EDTERIC, CSCO, NTCTEricsson signs OSSii license agreements with Cisco and Tektronix
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10:59 EDTFJTSY, SIFYFujitsu, Sify partner to provide global ICT solutions
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10:58 EDTSNDKSanDisk September weekly calls active on takeover speculation
SanDisk September 54 and 55.5 weekly calls are active on total call volume of 9K contracts (1K puts) on takeover speculation. September weekly call option implied volatility is at 62, September is at 50, October is at 47; compared to its 52-week range of 24 to 61. Active call volume suggests traders taking positions for upside price movement.
10:57 EDTINTC, ALTR, MU, MSFT, HPQAnalyst calls end to PC downturn, upgrades Intel
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10:55 EDTU.S. VIX equity volatility is back on rise
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10:54 EDTSNDKOptions with decreasing implied volatility: UVXY VIX SVXY VXX SQQQ SRPT TQQQ ME
10:53 EDTSNDK, WDC, STXSanDisk off lows amid takeover speculation
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10:49 EDTAAPLPalo Alto: Malware abuses 225,000 stolen credentials from jailbroken iOS devices
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10:48 EDTJCPJ.C. Penney rises after analyst upgrades stock, calls company 'self-help story'
Shares of retailer J.C. Penney (JCP) saw a boost in morning trading after an analyst from Deutsche Bank upgraded his rating on the company's shares, remarking on the company as a "self-help story." WHAT'S NEW: Deutsche Bank analyst Paul Trussell this morning upgraded J.C. Penney to Buy from Hold. Trussell also upgraded his price target to $12 from $10, noting that the company has already improved its merchandise mix and is now moving toward better pricing and fewer markdowns. Trussell said that the company's target of mid-single digit same-store sales growth looks "achievable" and its brands and assortment "look right." The analyst added that Marvin Ellison, the company's chief executive officer, is "driving the next step" to "bring JCP up the curve in pricing and markdown optimization, supply chain, leveraging IT and reducing corporate redundancies." Trussell, who also said he views the company as a "self-help story with multiple levers to pull," maintained "slightly" conservative estimates given the challenging competitive environment, but sees meaningful upside to the stock. WHAT'S NOTABLE: Other analysts have been relatively bullish on J.C. Penney shares in recent weeks after the company reported better than expected results for the second quarter on August 14. At that time, J.C. Penney reported a loss per share of 45c on revenue of $2.88B and said it expects to be free cash flow breakeven in fiscal year 2015. Additionally, the retailer backed its FY15 SSS view of up 4%-5% and said on its earnings conference call that it expects third quarter SSS to grow sequentially from Q2. J.C. Penney also expressed "confidence" in its ability to meet its $1.2B EBITDA target by 2017. On August 17, Piper Jaffray analyst Neely Tamminga raised her price on the company's shares to $17 from $15. Tamminga said that the company showed the ability for the second straight quarter to reach EBITDA targets regardless of top-line performance. The Piper analyst said she continues to rate the company a top pick for 2015. The same day, B. Riley analyst Jeff Van Sinderen initiated coverage of J.C. Penney with a Buy rating and a $12.50 price target, saying he views Penney as a "speculative turnaround" story and believes the company's "substantial" real estate assets partially offset its heavy debt load. The Fly notes that CEO Marvin Ellison will be speaking at Goldman Sachs 22nd Annual Global Retailing Conference on September 9. PRICE ACTION: J.C. Penney shares are up 3.24% to $9.23 in morning trading.
10:45 EDTFX Action: The dollar ignored the weaker Dallas Fed index
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10:43 EDTVXX, SRPT, MEMP, FRXOptions with decreasing implied volatility
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10:41 EDTDallas Fed Mfg Survey General Activity Index data reported
August Dallas Fed Mfg Survey General Activity Index at -15.8 vs consensus of -2.5
10:33 EDTOGXIOncoGenex up after Informa posts review of clusterin's role in cancer
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10:32 EDTSSHSunshine Heart says FDA approves key protocol amendment for Counter HF study
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10:31 EDTNURONeuroMetrix reports pilot study data of wearable pain relief technology
NeuroMetrix announced preliminary results from a pilot study of its wearable pain relief technology in subjects with restless leg syndrome. RLS, which is also known as Willis-Ekbom Disease, is a common sleep disorder characterized by a strong urge to move the legs at night. The pilot study was an open-label, single-arm, flexible dosing, 4-week trial. The objective of the study was to determine if transcutaneous electrical nerve stimulation, when delivered using a wearable intensive nerve stimulation device, is an effective and safe treatment for RLS, and to explore its effect on sleep in subjects with RLS. A total of nine subjects were evaluated. Two-thirds of the subjects were responders to the therapy according to the Clinical Global Impression of improvement scale. Overall RLS severity decreased by 32%, as assessed by the International Restless Leg Syndrome scale, which was statistically significant. Similarly, several sleep related outcomes measures showed statistically significant improvement. A complete set of results and analyses will be published by Dr. Winkelman who stated, "Pharmacologic treatments, though an important advance over the past 20 years for patients with RLS, leave much to be desired. Effective non-pharmacological treatments would be of great value, and these are encouraging preliminary results that must now be confirmed in a sham-controlled study."
10:27 EDTHBHCHancock Holding upgraded to Outperform from Market Perform at Fig Partners
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10:25 EDTPTNRPartner mulls merger with rival Hot, Haaretz says
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