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20:26 EDTTDOCTeladoc 8.25M share IPO priced at $19.00
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19:35 EDTGEGeneral Electric unions approve new four-year contracts
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19:32 EDTDGXQuest to acquire MemorialCare's laboratory outreach service business
Quest Diagnostics and MemorialCare Health System announced they have entered into a definitive agreement for Quest to acquire MemorialCare Health System's laboratory outreach service business. The transaction is expected to be neutral to earnings in 2015. Quest and MemorialCare Health System expect to complete the acquisition in August. Financial terms were not disclosed.
19:32 EDTMA, VMasterCard stops processing Backspace.com ad purchases, WSJ says
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19:06 EDTAVAV, TLOG, GLNG, AINVOn The Fly: After Hours Movers
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19:01 EDTMNOVMediciNova announces completion of enrollment in MN-166 clinical trial
MediciNova announced that the clinical trial of MN-166 in alcohol dependence has completed enrollment of 24 subjects. Yuichi Iwaki, MD, PhD, president and CEO of MediciNova, commented, "We are pleased that enrollment is now completed in our first study of MN-166 in alcohol dependence. We look forward to the final results of the study."
18:34 EDTGreece fails to make $1.7B payment to IMF, WSJ reports
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18:33 EDTBXSBancorpSouth extends merger agreement
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18:18 EDTIMF says Greece in arrears after failing to make $1.7B payment, WSJ reports
18:11 EDTT, DTVAT&T, DirecTV merger may get U.S. approval next week, Reuters says
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18:03 EDTCNXCCNX Coal Resources 5M share IPO priced at $15.00
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17:57 EDTBTUPeabody sees Q2 adjusted EPS, EBITDA below prior range
Peabody Energy announced that second quarter 2015 Adjusted EBITDA and Adjusted EPS are now expected to be below the original targeted range due to weather-related shipment issues in the Southern Powder River Basin and lower seaborne coal pricing. On April 23, Peabody forecast Q2 adjusted EPS (59c)-(49c), consensus (34c) and Q2 adjusted EBITDA $135M-$175M. Peabody expects a timing-related impact of approximately $40M in the second quarter as a result of a series of substantial rain and flash flooding events in the Southern Powder River Basin primarily in June that reduced production by 5.0 to 5.5M tons. Peabody has largely resumed normal production levels, and is scheduling to make up the deferred shipments in the third and fourth quarters. The company was also impacted by approximately $20M from the effects of lower pricing on Australian metallurgical coal, with approximately half related to spot coal sales during the quarter and half related to reduced coal inventory valuation due to benchmark third quarter settlements. Spot metallurgical coal prices declined 15% during the quarter before increasing in recent weeks. Regarding other factors expected to affect second quarter results, in early June Peabody announced a reduction of approximately 250 positions, or 25% of its corporate and regional staff, with expected annual savings of $40M to $45M when fully implemented later this year. In addition, the company has initiated actions to reduce approximately 250 employee and contractor positions at multiple metallurgical and thermal coal mines in Australia. These actions are aimed at increasing productivity, lowering costs and improving cash flows, while reducing metallurgical coal volumes for sales when markets improve. The company plans to provide additional details regarding the future benefits of these programs and any targets in its second quarter earnings release scheduled for Tuesday, July 28. Peabody expects to incur an estimated $20M to $25M in second quarter 2015 charges related to these activities, and these charges were not included in the company's previous financial targets. Approximately half of the charges are associated with the previously announced corporate and regional staff reductions, with the other half related to Australia mine site-related workforce reductions. These actions are part of a comprehensive approach the company is taking to improve the business across four key areas of management emphasis: operational, SG&A, financial and portfolio.
17:51 EDTAIRT, AALAir T unit awarded contract from American Airlines in excess of $32M
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17:50 EDTABCWAnchor BanCorp Wisconsin announces results of operational efficiency measures
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17:48 EDTBDRBF, AALBombardier delivers first of seven CRJ900 aircraft to Mesa Airlines
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17:47 EDTSBLKStar Bulk Carriers to delay delivery of newbuilding vessels by 3.3 months
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17:43 EDTSBLKStar Bulk Carriers reports Q1 adjusted EPS (20c), consensus (20c)
Reports Q1 revenue $45.5M, consensus $47.5M.
17:40 EDTESIITT Educational submits audited consolidated financial statements to DOE
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17:34 EDTCRKCarl Westcott raises stake in Comstock Resources to 7.41% from 5.8%
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17:34 EDTERIC, AAPLEricsson asks for documents that may be relevant in Apple case, Re/code says
Ericsson (ERIC) has asked a a Taiwanese company, Simplo Technology, thought to be an Apple (AAPL) supplier to hand over documents that may be relevant to its patent dispute case with Apple, says Re/code. Earlier this year, Ericsson filed complaints with the International Trade Commission as well the U.S. District Court in Texas claiming that Apple’s iPhones and iPads violate patents used in setting the 2G and 4G LTE wireless communications standards, added Re/code. Reference Link
17:32 EDTTRS, HZNTriMas completes tax-free spin-off of Cequent businesses as Horizon Global
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17:32 EDTBAESYBAE Systems awarded $110.41M government contract modification
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17:30 EDTABGAsbury Automotive acquires Mike Davidson Ford
Asbury Automotive Group announces that it is expanding in the Florida market. Asbury has acquired Mike Davidson Ford which generates approximately $90M in revenues annually. The new dealership will be rebranded as Coggin Ford and brings the number of Asbury stores in Florida to 24, along with three Q auto locations. The newly acquired store is located on Atlantic Boulevard.
17:30 EDTUTXPratt and Whitney awarded $269.36M government contract modification
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17:28 EDTBABoeing awarded $358.94M government contract
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17:22 EDTGGPGeneral Growth files automatic mixed securities shelf
17:20 EDTLEILucas Energy in settlement agreement, mutual release with Victory Energy
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17:20 EDTCQPCheniere Partners issues notice to proceed, commences construction on Train 5
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17:19 EDTPAHPershing Square lowers stake in Platform Specialty Products to 20.3% from 22.2%
17:17 EDTLEILucas Energy files form to delay 10-K
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17:16 EDTXRMXerium Technologies announces planned closure of PMC facility in Quebec
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17:13 EDTAXPWAxion Power to effect 35-for-1 reverse split effective July 14
Axion Power has amended its Articles of Incorporation, effective July 14, to effect a 35-for-1 reverse split of its issued and outstanding common stock. On June 17,, the company’s shareholders had approved a reverse split of not less than 20-for-1 nor more than 50-for-1 of its issued and outstanding common stock, which was subsequently fixed by its board of directors at 35:1 on June 24. The company has filed a Company Event Notification Form with Nasdaq for the reverse split to be effective on July 14, which date shall be the record date.
17:11 EDTOIIOceaneering sees FY15 organic CapEx $200M-$250M
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17:11 EDTACLSSenvest Management reports 5.29% passive stake in Axcelis
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17:10 EDTZZillow Group initiated with a Buy at Guggenheim
Target $120.
17:10 EDTGRUBGrubHub initiated with a Buy at Guggenheim
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17:09 EDTOIIOceaneering backs FY15 EPS view $2.80-$3.20, consensus $2.88
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17:09 EDTGPTGramercy Property Trust initiated with a Buy at Stifel
Target $28.
17:08 EDTSMLPSummit Midstream initiated with a Buy at Janney Capital
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17:06 EDTAMEDAmedisys initiated with a Buy at Mizuho
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17:06 EDTSPLKSplunk initiated with an Outperform at Raymond James
Target $80.
17:05 EDTGLNGGolar LNG, Perenco agree to terms for floating LNG export project in Cameroon
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17:04 EDTTCAPTriangle Capital initiated with a Hold at Jefferies
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17:04 EDTTCRDTHL Credit initiated with a Hold at Jefferies
Target $12.
17:04 EDTBLDPBallard Power files to sell common stock, no amount given
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17:03 EDTPNNTPennantPark initiated with a Hold at Jefferies
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17:03 EDTMCCMedley Capital initiated with a Buy at Jefferies
Target $10.50.
17:02 EDTHTGCHercules Technology initiated with a Buy at Jefferies
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17:02 EDTGAINGladstone Investment initiated with a Hold at Jefferies
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17:01 EDTDNOWNOW Inc. to purchase Odessa Pumps and Equipment, terms not disclosed
NOW Inc. announced that it has entered into an agreement to purchase Odessa Pumps and Equipment. Terms of the all-cash transaction, which remains subject to customary closing conditions, including regulatory approval, were not disclosed. Founded in 1980, Odessa Pumps and Equipment is a leading distributor of pumps and equipment for the Oil & Gas and Municipal and Wastewater markets. The company manages a distribution business of approximately 13 sales and operations locations across Texas, New Mexico and Oklahoma. Odessa employs approximately 300 employees.
17:01 EDTCODICompass Diversified initiated with a Buy at Jefferies
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17:00 EDTCPTACapitala Finance initiated with a Buy at Jefferies
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16:58 EDTAINVApollo Investment initiated with a Buy at Jefferies
Target $8.50.
16:57 EDTARCCAres Capital initiated with a Buy at Jefferies
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16:56 EDTZMHKKR 2006 Fund reports 14.8% stake in Zimmer
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16:54 EDTIDCCCourt grants InterDigital anti-suit motion against Pegatron
On June 29, the United States District Court for the Northern District of California granted InterDigital Technology Corporation’s motion for a preliminary anti-suit injunction against Pegatron Corporation in the matter of InterDigital Technology Corporation, et al. v. Pegatron Corporation, The court’s order requires that Pegatron take immediate steps to dismiss a lawsuit that Pegatron had filed against InterDigital in February 2015 in the Taiwan Intellectual Property Court, which alleges that certain terms of InterDigital’s Patent License Agreement with Pegatron violate the Taiwan Fair Trade Act. Because InterDigital believes the issues raised in the Taiwan Action are subject to the dispute resolution procedures of the parties’ PLA, InterDigital initiated an arbitration relating to these issues in June 2015, and then filed the NDCA Action seeking an anti-suit injunction barring Pegatron from prosecuting the Taiwan Action and compelling Pegatron to arbitrate the issues raised in the Taiwan Action.
16:45 EDTTLOGTetraLogic announces preliminary data from Phase 2A study of birinapant
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16:45 EDTU.S. Manufacturing ISM Preview
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16:44 EDTNKESwoosh, LLC reports 15% stake in Nike
On June 30, in exchange for all of the outstanding voting and non-voting units of Swoosh, Phil Knight transferred to Swoosh as a capital contribution 128.5M shares of the NIKE Class A Stock to provide for the holding, voting and management of the NIKE Class A Stock in accordance with the terms of the amended and restated limited liability company agreement of Swoosh. Phil Knight and Swoosh Holdings, LLC, a Delaware limited liability company wholly-owned by Phil Knight, are currently the only members of Swoosh.
16:40 EDTFCNFTI Consulting backs FY15 EPS view $1.95-$2.20, consensus $2.09
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16:40 EDTNKENike announces transfer of ownership of Phil Knight’s shares to LLC
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16:39 EDTZMHLVB Acquisition Holding reports 14.8% stake in Zimmer
16:36 EDTNKENike, Phil Knight announce ownership, governance actions
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16:35 EDTU.S. Construction Spending Preview
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16:30 EDTU.S. Auto Sales Preview
U.S. Auto Sales Preview: Auto dealers will release their June results on Wednesday and analysts expect to see a 2.3% decline to a 17.3 M pace from the 7.6% jump to a 17.7 M pace in May. The slow down in auto sales at the beginning of the year has largely been attributed to poor weather with the ensuing rebound helped along by the decline in gasoline prices.
16:22 EDTWMSAdvanced Drainage to delay filing 10-K
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16:20 EDTIRMDiRadimed says plaintiffs appeal dismissal of putative class action lawsuit
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16:17 EDTTCPCTCP Capital initiated with a Buy at Cantor
Target $17.50.
16:17 EDTWPTWorld Point Terminals announces CFO Steve Twele is retiring effective Oct 1
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16:17 EDTSLRCSolar Capital initiated with a Buy at Cantor
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16:17 EDTAVAVAeroVironment slips lower after results
After hours the shares are down 2.3% to $25.47 following earnings. At that price next support is at $24.73, the 52-week low. Resistance is at $26.08, the closing price.
16:17 EDTSARSaratoga Investment initiated with a Buy at Cantor
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16:17 EDTPSECProspect Capital initiated with a Hold at Cantor
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16:16 EDTPNNTPennantPark initiated with a Hold at Cantor
Target $10.
16:16 EDTKCAPKCAP Financial initiated with a Hold at Cantor
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16:16 EDTGSBDGoldman Sachs BDC initiated with a Hold at Cantor
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16:16 EDT$NYENYSE market internals summary
Volume is extremely heavy for this time of day. Breadth is mixed with issues and volume bullish while new highs to new lows are bearish (negative divergence). Advancing Issues: 2014 / Declining Issues: 1173 -- for a ratio of 1.7 to 1. Advancing Volume: 1,907,427,000 / Declining Volume: 1,466,160,000 -- for a ratio of 1.3 to 1. New 52-Week Highs: 24 / New 52-Week Lows: 250.
16:16 EDT$NSDNASDAQ market internals summary
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16:16 EDTGLADGladstone Capital initiated with a Buy at Cantor
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16:15 EDTGBDCGolub Capital initiated with a Hold at Cantor
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16:15 EDTAVAVAeroVironment sees FY16 revenue $260M-$280M, consensus $277.34M
Planned increases in strategic R&D and SG&A investments for Commercial UAS in FY16 may largely offset operating profit in the current fiscal year.
16:15 EDTGARSGarrison Capital initiated with a Buy at Cantor
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16:15 EDTFULLFull Circle Capital initiated with a Hold at Cantor
Target $4.
16:14 EDTFSICFS Investment initiated with a Hold at Cantor
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16:14 EDTFSCFifth Street Finance initiated with a Hold at Cantor
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16:14 EDTCAMPCalAmp drops after results
In the extended session shares are down over 4.8% to $17.38. At that price next support is at $16.84. Resistance is at $17.73.
16:14 EDTBKCCBlackRock Capital Investment initiated with a Buy at Cantor
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16:13 EDTARCCAres Capital initiated with a Hold at Cantor
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16:13 EDTAINVApollo Investment initiated with a Buy at Cantor
Target $8.50.
16:13 EDTAVAVAeroVironment reports Q4 EPS 31c, consensus 18c
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16:13 EDTACASAmerican Capital initiated with a Hold at Cantor
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16:13 EDTIGIGI Laboratories submits fifth ANDA submission for 2015
IGI Laboratories announced it has submitted its fifth abbreviated new drug application, ANDA, to the FDA of 2015, which brings the Company's total number of ANDA submissions now pending at the FDA to twenty-seven. Jason Grenfell-Gardner, President and CEO of the Company, commented, "We believe our current pipeline of twenty-seven submissions, exclusive of our four partnered submissions, pending approval by the FDA now has a combined addressable market of over $939 million based on May 2015 data from IMS Health. We still expect to submit a total of 20 ANDAs in 2015."
16:10 EDTMEILMethes Energies files $564.64K mixed securities shelf
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16:08 EDTNTKNortek acquires health and wellness tech businesses from Numera
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16:08 EDTLDOSLeidos awarded $10M prime task order by U.S. CECOM
Leidos was awarded a prime task order by the U.S. Army Communications Electronic Command, or CECOM, to provide operation and maintenance support to the Software Engineering Center, or SEC, for the Property Book Unit Supply Enhanced system. The single-award, cost-plus, fixed-fee task order has a one year base period of performance, two one year options and a total contract value of approximately $10M if all options are exercised. Work will be performed primarily in Fort Lee, Virginia.
16:07 EDTDCIDonaldson acquires IFIL.USA
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16:07 EDTICFI, POMICF International awarded $14M in contracts by Pepco Holdings
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16:06 EDTILIntralinks expects to exceed Q2 revenue guidance of $67.17M
Based on information available as of June 30, 2015, Intralinks expects to exceed its revenue guidance for the Q2 and is reaffirming its FY15 revenue and profitability guidance, as discussed in the company's May 6, earnings call.
16:06 EDTBGCP, GFIGBGC sees Q2 pre-tax distributable earnings, revenues around mid-point of view
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16:05 EDTBX, TIPTBlackstone completes acquisition of Tiptree Financial subsidiary
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16:05 EDTExport Prices data reported.
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16:05 EDTImport Prices data reported.
June Import Prices at % for the month.
16:05 EDTIL, ITIntralinks appoints Chris Lafond as CFO
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16:04 EDTCAMPCalAmp sees FY16 revenue $280M-$290M, consensus $282.77M
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16:03 EDTCAMPCalAmp sees Q2 adjusted EPS 24c-28c, consensus 26c
Sees Q2 revenue $66M-$70M, consensus $68.08M.
16:02 EDTSOGeorgia Power to offer solar sales, installation services July 1
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16:02 EDTCAMPCalAmp reports Q1 adjusted EPS 26c, consensus 26c
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16:01 EDTAAPL, AMD, TWTR, BAC, JPMOptions Update; June 30, 2015
iPath S&P 500 VIX Short-Term Futures down 18c to 20.14. Option volume leaders: AAPL AMD TWTR BAC JPM
15:42 EDTUILUIL Holdings drops after Connecticut regulators deny approval of merger
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15:35 EDTUILConnecticut regulators deny approval of UIL merger, Hartford Courant reports
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15:33 EDTRCAPRCS Capital levels to watch
The shares were last at $7.60, putting price close to the 50-day moving average at $7.70. A breakout above $7.70 would be bullish, breaking the current downtrend. Resistance above $7.70 would be at $7.91. Support is at $7.11.
15:31 EDTPGProcter & Gamble announces change to laundry pacs to improve safety
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15:26 EDTGIS, STZ, MKC, PAYX, AYI, GBX, UNF, AZZ, GIS, STZ, MKC, PAYX, AYI, GBX, UNF, AZZNotable companies reporting before tomorrow's open
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15:26 EDTCAMP, AVAV, SBLKNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include CalAmp (CAMP), consensus 26c... AeroVironment (AVAV), consensus 18c... Star Bulk Carriers (SBLK), consensus (20c).
15:25 EDTTreasury Closing Summary:
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15:21 EDTRCAPRCS Capital discloses details of covenant modifications
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15:20 EDTJCPMoody's raises J.C. Penney liquidity rating to SGL-1 from SGL-2
Moody's Investors Service revised J.C. Penney's rating outlook to positive from stable. Moody's also affirmed the company's Caa1 Corporate Family Rating, and raised the company's Speculative Grade Liquidity rating to SGL-1 from SGL-2. "The rating outlook revision to positive from stable reflects Moody's view that JC Penney's operating performance has shown signs of improvement as a result of better merchandising, cost controls, and integration of its online business" said Moody's Vice President Scott Tuhy. He added, "we have seen positive momentum building for the company to achieve $700M to $800M of adjusted EBITDA, a level in which earnings would fully cover cash flow and interest". The upgrade in the Speculative Grade Liquidity rating primarily reflects the company's improved operating performance as we expect free cash flow to be near break-even levels and the company's meaningful cash balances are sufficient to cover expected seasonal working capital needs.
15:18 EDTCVECenovus Energy upgraded to Outperform from Neutral at Macquarie
15:17 EDTLVS, MGM, MPEL, WYNNMacau visa change does not signal a change in policy, says Wells Fargo
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15:16 EDT$NYENYSE market internals summary
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15:16 EDT$NSDNASDAQ market internals summary
Volume is heavier than average for this time of day. Breadth is mixed with issues and volume bullish while new highs to new lows are bearish (negative divergence). Advancing Issues: 1786 / Declining Issues: 994 -- for a ratio of 1.8 to 1. Advancing Volume: 901,787,000 / Declining Volume: 412,951,000 -- for a ratio of 2.2 to 1. New 52-Week Highs: 31 / New 52-Week Lows: 105.
15:08 EDTCMGChipotle retests $600, levels to watch
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15:04 EDTACTGAcacia Research resolves litigation with W.L. Gore & Associates
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15:01 EDTAYIAcuity Brands July volatility elevated into Q3 and outlook
Acuity Brands July call option implied volatility is 46, August is at 34, November is at 30; compared to its 52-week range of 21 to 48 into the expected release of Q3 results on July 1.
14:52 EDTGISGeneral Mills technical notes before results
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14:50 EDTRCAPRCS Capital trading halted, pending news
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14:47 EDTGBXGreenbrier July volatility elevated into Q3 and outlook
Greenbrier July call option implied volatility is 55, August is at 47, September is at 44; compared to its 52-week range of 29 to 70 into the expected release of Q3 results on July 1.
14:43 EDTAverages remain higher as Greek headlines continue crossing
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14:41 EDTGBXGreenbrier technical comments ahead of earnings
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14:39 EDTNBLNoble Energy upgraded to Buy from Hold at Societe Generale
14:35 EDTMBI, AGOPuerto Rico will make July 1 payment on general obligation debt, Reuters reports
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14:34 EDTJUNOJuno Therapeutics price target cut to $54 from $59 at Morgan Stanley
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14:34 EDTCLF, VALE, BHP, X, AKS, NUEIron ore producers slide after Australia cuts price target on the commodity
Shares of iron ore producers are falling after Reuters reported that Australia reduced its 2015 price forecast for iron ore to $54.40 a tonne from $60.40 a tonne. According to Reuters, Australia's current projection on iron ore prices is based on its view that China, the commodity's main market, will produce less steel in 2015 and 2016 as as the seaborne supply of iron ore increases. PRICE ACTION: Cliffs Natural Resources (CLF) is down over 10%, BHP Billiton (BHP) is lower by 2.3%, and Vale (VALE) is down 4% in afternoon trading. Steel stocks, including United States Steel (X), AK Steel Holding (AKS), and Nuco (NUE) are also sliding in afternoon trading.
14:31 EDTKRKroger announces retirement of COO Mike Ellis
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14:29 EDTUNFUniFirst technical comments before earnings
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14:28 EDTRCAPRCS Capital jumps 13.9%, halted for volatility after modifying lending covenant
14:27 EDTRCAPRCS Capital, lenders agree to covenant modifications
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14:20 EDTFed's Fischer said the FOMC will consider hiking rates in coming months
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14:16 EDTFREECambria Capital reports 6.6% passive stake in FreeSeas
14:16 EDT$NYENYSE market internals summary
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14:16 EDT$NSDNASDAQ market internals summary
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14:08 EDTMKCMcCormick July volatility increases into Q2 and outlook
McCormick July call option implied volatility is 18, August is at 17, September is at 16; compared to its 52-week range of 12-23 into the expected release of Q2 results on July 1.
14:06 EDTPAYXPaychex technical preview before earnings news
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14:01 EDTDISDisney names Christine McCarthy CFO, Kevin Mayer Chief Strategy Officer
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13:59 EDTBXBlackstone intends to inject $84M into Jack Wolfskin, Bloomberg reports
Blackstone plans to inject $84M into Jack Wolfskin to alter the terms on its senior loans, Bloomberg reports, citing two people familiar with the matter. Reference Link
13:58 EDTGreece willing to suspend referendum if talks reopen, Times of Malta reports
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13:55 EDTSTZConstellation Brands technical comments before earnings
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13:50 EDTTHS, CAGTreeHouse tie-up with Ralcorp could be accretive by over $1 to EPS, says BB&T
BB&T noted that it has expected ConAgra (CAG) to announce plans to exit its private label business for some time and repeated its view that TreeHouse (THS) would be a logical buyer. The firm believes that a potential tie-up with Ralcorp could be accretive by "well over" $1 to TreeHouse EPS if synergies are as large as expected, but noted that its price target and rating on the stock are under review following today's rally in the stock. BB&T has a Buy rating and $86 price target on TreeHouse Foods.
13:42 EDTCORR, EXXICorEnergy completes GIGS acquisition, board confirms dividend raise
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13:38 EDTMSFT, VZMicrosoft display exit shows discipline, but impact negligible, says Jefferies
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13:37 EDTGOOGYouTube prevails in German court case regarding artists' fees, Reuters says
Google notched a legal victory over German performing rights organization Gema, which had tried to make YouTube pay each time users watched music videos by artists it represents, Reuters reports. Reference Link
13:31 EDTANRAlpha Natural creditors prepping for restructuring talks, WSJ reporter says
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13:28 EDTSPWSPX Corp. upgraded to Buy on M&A optionality at BofA/Merrill
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13:17 EDTVXXiPath S&P 500 VIX Short-Term Futures is recently down 47c to 20.79
13:16 EDT$NYENYSE market internals summary
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13:16 EDT$NSDNASDAQ market internals summary
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13:15 EDTGlobal X Funds volatility elevated as Greece near default
Global X Funds (GREK) July call option implied volatility is at 124, August is at 93, September is at 88, December at 74; compared to its 52-week range of 31 to 110, suggesting large price movement.
13:14 EDTNBGNational Bank of Greece volatility elevated as Greece near default
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13:09 EDTGOGOGogo management to meet with UBS
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13:04 EDTICEIntercontinentalExchange management to meet with UBS
Meeting to be held in Frankfurt on July 1 hosted by UBS.
13:04 EDTTGNATegna invests in The Video Call Center, terms not disclosed
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12:59 EDTCRMSalesforce management to meet with UBS
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12:57 EDTPNR, CAG, THS, CELG, JUNO, TUES, PIROn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday as headlines about Greece once again dominate the news flow. Hopes that Greece may still reach a last-minute deal with its creditors were attributed for the market's early bounce, though optimism and the averages have been dropping as the day continues. ECONOMIC EVENTS: In the U.S., Case-Shiller 20-city composite home price index for April rose by a seasonally adjusted 0.3% month over month, versus the consensus forecast for an increase of 0.8%. The Chicago PMI jumped 3.2 points to 49.4 in June, though that was below the expected reading of 50.0. The Conference Board's consumer confidence index rose to 101.4 in June from a revised 94.6 reading for May, beating expectations for a reading of 97.4. In Europe, Greece's government submitted a proposal for a deal with the eurozone bailout fund to cover its debt repayments due between 2015 and 2017. Jeroen Dijsselbloem said eurozone finance ministers will discuss the Greek request in a conference call tonight, but German Chancellor Angela Merkel reportedly said that no new negotiations should take place before Greek holds its scheduled referendum. COMPANY NEWS: Shares of Pentair (PNR) advanced 5.5% after activist investor Nelson Peltz's Trian Group confirmed it has taken a 7.24% stake in the company. Trian noted it has met with the company’s senior management and communicated its view that the company can create significant value for its shareholders by facilitating "prudent industry consolidation" through accretive mergers and acquisitions as well as by making other changes, such as communicating its results as "cash" EPS... Another company in the sights of an activist, ConAgra (CAG), rose 1.5% after reporting first quarter results that were roughly in-line with expectations while also announcing that plans to exit Private Brands operations. ConAgra CEO Sean Connolly said during the associated call that he wants "constructive conversation" with Jana Partners, which reported earlier this month that it has taken a 7.2% stake in the packaged foods company and is prepared to seek three ConAgra board seats, if necessary, to help the board evaluate and address opportunities for shareholder value creation. MAJOR MOVERS: Among the notable gainers was Juno Therapeutics (JUNO), which jumped 19% after the company announced a ten-year global collaboration for the development and commercialization of immunotherapies with Celgene (CELG). As part of the deal, Celgene will make an initial payment of approximately $1B, which includes the purchase of approximately 9.1M shares of Juno stock at $93 per share. Also higher was TreeHouse Foods (THS), which gained 9% after peer ConAgra announced plans to exit its private brands operations. Among the noteworthy losers was Apollo Education (APOL), which dropped 16.5% and was downgraded at Bank of America Merrill Lynch after the for-profit education company reported higher than expected Q3 earnings but lowered its fiscal 2015 guidance. Also lower were shares of Tuesday Morning (TUES), which fell 13% after announcing that its CFO Jeffrey Boyer has resigned his position to take the same role with Pier 1 Imports (PIR). INDEXES: Near midday, the Dow was down 3.77, or 0.02%, to 17,592.58, the Nasdaq was up 11.24, or 0.23%, to 4,969.71, and the S&P 500 was flat near 2,057.81.
12:50 EDTLVS, MGM, MPEL, WYNNMacau transit visa rules reversed, signal end of tightening, says BofA/Merrill
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12:47 EDTHOVHovnanian management to meet with UBS
Meeting to be held in Boston on June 30 hosted by UBS.
12:45 EDTVIVHY, ORANVivendi finalizes acquisition of Dailymotion
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12:44 EDTLVS, MGM, MPEL, WYNNMacau appears to re-lengthen visas to 7 days, says Brean Capital
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12:43 EDTCVXChevron management to meet with UBS
Meetings to be held in Frankfurt on June 30 and in Paris on July 1 hosted by UBS.
12:40 EDTTreasury Action: bonds have erased early losses and yields are lower
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12:33 EDTGSGoldman Sachs charged by SEC for violating market access rule
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12:32 EDTMSGMadison Square Garden names David O'Connor as CEO
The Madison Square Garden Company announced that David "Doc" O'Connor has been named president and CEO, effective July 15. O'Connor joins the company after spending the last three decades at Creative Artists Agency, where he played a critical role in helping build one of the most respected talent and sports agencies in the world.
12:32 EDTFBFacebook increases options to video ads payment structure, WSJ says
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12:28 EDTMerkel says no new negotiations before Greek referendum, Bloomberg reports
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12:24 EDTTUES, PIRTuesday Morning CFO departure increases risk, says Sterne Agee CRT
Sterne Agee CRT said the departure of Tuesday Morning (TUES) CFO Jeff Boyer to join Pier 1 Imports (PIR) was unexpected and adds more risk to the story at Tuesday Morning, but the firm keeps its Buy rating on the shares citing its continuing turnaround plans, favorable outlook for the off-price channel and the stock's "compelling" valuation. The firm has an $18 price target on Tuesday Morning shares.
12:16 EDT$NYENYSE market internals summary
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12:16 EDT$NSDNASDAQ market internals summary
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12:16 EDTTACOLevy Acquisition stockholders approve merger with Del Taco
Levy Acquisition Corp. announced that LAC’s stockholders have voted to approve the merger of a subsidiary of LAC with Del Taco. In addition to approving the business combination proposal, LAC’s stockholders approved the proposals to amend the amended and restated certificate of incorporation of LAC, including changing LAC’s name to Del Taco Restaurants and removing certain provisions related to LAC’s previous status as a blank check company. The merger will close today, June 30, and Del Taco will become the sole subsidiary of LAC, whose name has been changed to Del Taco Restaurants. The combined company’s common stock and warrants will continue to be listed on NASDAQ’s Capital Market under the ticker symbols “TACO” and “TACOW”, respectively. The combined company’s units, which had been traded under the ticker symbol “TACOU”, will separate into their components of one share of common stock and one-half of one warrant to purchase common stock on July 1.
12:09 EDTPNR, SPW, ITT, FLSPentair peers advance after Peltz urges company to look for acquisitions
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12:08 EDTCPCanadian Pacific to buy 308K shares from arm’s length third party for C$55.8M
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12:07 EDTTAC, TSLATransAlta to use Tesla battery technology in large scale energy storage project
TransAlta (TAC) has been awarded $250,000 from Alberta Innovates - Energy & Environment Solutions to help launch Alberta's first large-scale commercial energy storage project. TransAlta will use commercial-scale lithium-ion batteries to reduce energy costs for the customer. Five commercial-scale Tesla (TSLA) Powerpack batteries will be installed, each about the size of a household fridge, in a medium-sized building, such as a large grocery store, apartment block, post-secondary institution building or small office tower. The technology allows a building owner to purchase electricity during times of low demand and low prices - after midnight, for example - store it in the on-site battery units, and then use that power during periods of high demand when prices peak, typically in the late afternoon and early evening. The project should be running in late-2016. More than half of the total project costs will be covered by TransAlta as part of our commitment to the demonstration project.
12:01 EDTCACICACI awarded multi-million dollar contract to provide support for US Army
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12:00 EDTU.S. equities pared gains into the European close
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11:58 EDTGILD, YHOOStocks with call strike movement; GILD YHOO
Gilead (GILD) November 130 call option implied volatility increased 2% to 28, Yahoo (YHOO) October 46 call option implied volatility decreased 2% to 29 according to IVolatility.
11:53 EDTFBFacebook at test of support, levels to watch
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11:48 EDTAMRSAmyris to resume trading at 12:05 PM ET
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11:47 EDTMNKDMannKind's Afrezza lags behind in inhaled insulin market, The Street reports
The number of prescriptions written for MannKind's (MNKD) Afrezza is lagging behind in the diabetes market, reports The Street. This comes five months after Sanofi (SNY) launched the product. Afrezza is also under-performing Exubera, the first inhaled insulin launched by Pfizer (PFE) nine years ago. Reference Link
11:47 EDTTWTRTwitter rallies to top of price channel, levels to watch
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11:45 EDTTreasury's $30 B 4-week bill sale was ok
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11:40 EDTTreasury Option Action: some call spread liquidation
Treasury Option Action: some call spread liquidation has been amid today's positioning, along with a large block purchase. Meanwhile Friday's 10-year straddle (after payrolls Thursday) is trading at 9 tic premium compared to the average 15 tic premium for the past 6-months, suggesting that the July 4th weekend is seen reducing rather than increasing trading risks around the number. Specifically, there was a purchase of 10k in August 124 puts blocked overnight and purchase of 5k in September 125.5 puts vs a sale of 5k in August 125 puts on 10-year futures. There was also a sale of 2k in August 158/160 call spreads on bond futures and a sale of 7k in August 118 puts/120.75 call combos on 5-year futures. September 10s are 2.5-tics lower near 126-04.
11:38 EDTAMRS, TOTAmyris agrees to restructure fuels joint venture with Total
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11:37 EDTCYBRCyberArk July calls active on renewed takeover speculation
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11:36 EDTAMRSAmyris trading halted, pending news
11:36 EDTAMGNRumor: Amgen moves up on speculation of an investor stake
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11:31 EDTAGO, ASHRStocks with call strike movement; ASHR AGO
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11:31 EDTOHGIOne Horizon Group CFO enters 10b5-1 trading plan
On June 30, Martin Ward, CFO, Principal Finance and Accounting Officer and a director, entered into a Rule 10b5-1 trading plan with Tripoint Global Equities which was approved by our Chairman of the Board of Directors. Pursuant to the Rule 10b5-1 plan, a total number of 1M shares of the common stock of One Horizon Group, par value $0.0001 per share, will be sold by Ward during the period from July 30, 2015 to July 29, 2016 according to the specific instruction set forth in the plan.
11:30 EDTCYBRRumor: CyberArk moves up on renewed takeover chatter
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11:26 EDTCPBCampbell Soup July call activity attributed to takeover speculation
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11:25 EDTToday's U.S. reports
Today's U.S. reports revealed June gains for both Chicago PMI and consumer confidence, and an April NSA rise for the S&P Case-Shiller home price index of 1.1%, though only the consumer confidence rise beat expectations, as the Chicago bounce still left a lean 49.4 reading, while the home price rise fell short of the seasonal norm. The consumer confidence bounce to the same 101.4 seen in April left the measure still-below the 103.8 cycle-high in January, as is the case with all the major sentiment surveys that ratcheted higher into the start of 2015 before oscillating below early-year peaks. Both producer sentiment and confidence have shown an upturn in June.
11:19 EDTCPBRumor: Campbell Soup strength attributed to takeover speculation
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11:16 EDT$NYENYSE market internals summary
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11:16 EDT$NSDNASDAQ market internals summary
Volume is very light for this time of day. Breadth is mixed with issues and volume bullish while new highs to new lows are bearish (negative divergence). Advancing Issues: 1727 / Declining Issues: 905 -- for a ratio of 1.9 to 1. Advancing Volume: 313,379,000 / Declining Volume: 203,354,000 -- for a ratio of 1.5 to 1. New 52-Week Highs: 22 / New 52-Week Lows: 83.
11:15 EDTRepo rates spiked today amid quarter end pressures
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11:13 EDTAMBCAmbac Financial volatility increases as shares pullback
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11:12 EDTJMEIJumei upgraded to Buy from Hold at HSBC
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11:07 EDTPCLN, AWAY, TRIP, EXPEPriceline rises after analysts highlight positive travel trends
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10:59 EDTCORR, EXXICorEnergy could be worth $13 per share, says Wells Fargo
Wells Fargo views CorEnergy's (CORR) recently announced plans to buy the Grand Isle Gathering System from Energy XXI (EXXI) as a net positive, but also a deal that carries risks due to the financial health of the seller. The firm maintains its Outperform rating on CorEnergy and raised its price target range on the stock to $9-$11, but added that it believes the stock could be worth $13 per share if Energy XXI's financial position improves and the visibility of future payments increases.
10:54 EDTCMICummins announces retirement of Chief Technical Officer John Wall
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10:53 EDTTWTRTwitter calls active on renewed takeover chatter
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10:50 EDTPOST, THS, CAGTreeHouse, Post rise after ConAgra plans exit from private brands
Two food companies, TreeHouse Foods (THS) and Post Holdings (POST), are trading higher after peer ConAgra (CAG) announced plans to exit its private brands operations. According to a Reuters report from earlier, KeyBanc Capital Markets analyst Akshay Jagdale mentioned in a note that TreeHouse and Post could be potential acquirers of the ConAgra division. Shares of Post Holdings rose 2.8% and Treehouse Foods advanced 9% in morning trading.
10:49 EDTGM, NAVGM, Navistar may announce commercial truck venture, Forbes reports
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10:48 EDTPAHCPhibro Animal Health moves up following a positive mention by Navellier
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10:47 EDTTWTRRumor: Twitter strength attributed to takeover renewed speculation
10:46 EDTAGOAssured Guaranty volatility increases as shares pullback
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10:42 EDTCSCOCisco strengthens security story with OpenDNS buy, says Wells Fargo
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10:38 EDTEBAY, PYPL, AAPL, GOOG, GOOGLWells Fargo upbeat on core eBay, Bernstein bullish on PayPal
Wells Fargo issued an upbeat note on the outlook for eBay's (EBAY) core business, while another research firm, Bernstein, was bullish on the company's soon to be spun off PayPal (PYPL) unit. eBay has said that it will spin off its PayPal online payments unit through a distribution to eBay shareholders on July 17. CORE EBAY: The shares of core eBay are likely to offer a "unique value opportunity" following the spin-off, as many growth investors will probably sell their shares in eBay creating "an interesting entry point." Wells Fargo stated. eBay's business model is "arguably better" than that of most retailers, as it has no inventory risk, better margins, and more efficient capital deployments than most other companies in the sector, Wells believes. Numerous initiatives that the company is undertaking, including structured data and a simplified listing process, could enable eBay to beat expectations going forward, Wells contended. Additionally, there is little risk to fiscal 2016 estimates for eBay, since its guidance does not factor in any improvement in its business, the firm believes. Noting that "when issued" shares of eBay and PayPal are slated to start trading on July 9, Wells says that eBay's shares would provide "exceptional value" if they trade anywhere near the current $20 per share implied value of core eBay. At $25, the shares would still provide "excellent value," the firm added. PAYPAL: The growth of Internet payments is in its infancy and has "vast untapped potential," according to Bernstein analyst Carlos Kirjner. PayPal's total payments volume should have a compound annual growth rate of over 20% in the next three years, helping its revenue to jump by a CAGR of at least 17% over the period, the analyst stated. Since PayPal's position in mobile is strong, competing services from Apple (AAPL) and Google (GOOG) will, at most, create a small headwind to PayPal's growth over the next three years, Kirjner contended. Moreover, PayPal has room to cut its costs, enabling its margins to expand and its earnings to grow faster than its revenue over the longer term, the analyst stated. He values PayPal at $43 per eBay share. PRICE ACTION: In early trading, eBay added 0.7% to $59.77.
10:36 EDTAAPLAppeals court says Apple conspired to fix e-book prices, Reuters reports
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10:33 EDTATVAcorn International regains compliance with NYSE continuined listing standard
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10:30 EDTMBIMBIA volatility increases on sharp sell off
MBIA July weekly call option implied volatility is at 199, July is at 122, August is at 88, November is a 79; compared to its 52-week range of 32 to 89, suggesting large near term price movement on Puerto Rico debt concerns.
10:30 EDTFX Action: The CAD has underperformed notably today
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10:30 EDTEuro$ interest rate options: some bullish positioning
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10:29 EDTPNRTrian CIO says Pentair can do 'very accretive' acquisitions in upcoming years
Trian CIO Ed Garden is speaking on CNBC.
10:26 EDTMBI, AGO, CRC, SRPT, RMTIOptions with increasing implied volatility
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10:25 EDTThe June U.S. consumer confidence rise
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10:19 EDTAZNAstraZeneca, Eolas Therapeutics partner on EORA program for smoking cessation
Eolas Therapeutics said that is has entered into a worldwide license and partnership agreement with AstraZeneca on the Eolas Orexin-1 Receptor Antagonist program for smoking cessation and other indications. The EORA program was awarded a Blueprint Neurotherapeutics grant from the National Institutes of Health for the development of the program from the preclinical stage through phase I clinical trials. The total deal potential is in excess of $145M. This includes upfront, clinical and regulatory milestone payments. Additionally, Eolas is eligible to receive royalties on commercial sales.
10:19 EDTAPOL, THC, CYH, HCA, BBBY, BKS, NKE, CTRXOptions with decreasing implied volatility
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10:18 EDTCAGConAgra CEO says he wants 'constructive conversation' with Jana
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10:16 EDT$NYENYSE market internals summary
Volume is extremely heavy for this time of day. Breadth is mixed with issues and volume bullish while new highs to new lows are bearish (negative divergence). Advancing Issues: 2128 / Declining Issues: 780 -- for a ratio of 2.7 to 1. Advancing Volume: 298,011,000 / Declining Volume: 114,385,000 -- for a ratio of 2.6 to 1. New 52-Week Highs: 11 / New 52-Week Lows: 105.
10:16 EDT$NSDNASDAQ market internals summary
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10:15 EDTTACOLevy Acquisition reaches settlement regarding Del Taco merger lawsuit
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10:15 EDTU.S. consumer confidence surged to 101.4 in June
U.S. consumer confidence surged to 101.4 in June from 94.6 in May (revised down from 95.4). It ties the March reading, and is the second highest print this year, bested only by the 103.8 in January. The latter was the highest since June 2007. The present situations component rose to 111.6 from 107.1 (revised from 108.1). The expectations index was 94.6 from 86.2 previously (revised from 86.9). The labor market differential improved to -4.3 versus -6.6.
10:15 EDTTreasury Action: yields steadied above lows
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10:13 EDTConsumer Confidence data reported
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10:06 EDTMBIMBIA plunges on Puerto Rico debt concerns
The stock is down over 20% at time of writing to $5.03, a fresh 52-week low. At that price next support is at $4.82. Resistance is at $5.32.
10:05 EDTU.S. Consumer Confidence Preview
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10:04 EDTCAGConAgra expects additional divestitures as it refines asset mix
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10:01 EDTDEO, PE, BPOP, PNR, JUNO, OFG, CMPR, MPELHigh option volume stocks
High option volume stocks: DEO PE BPOP PNR JUNO OFG CMPR MPEL
10:01 EDTBA, ERJBoeing, Embraer to collaborate on ecoDemonstrator technology tests
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10:01 EDTCAFD, ALLY, AVOL, BXLT, BBG, BKFS, BCEI, BOOT, ED, KMX, DTEA, DUK, EIX, ENLC, GI, EVH, FIT, FLT, XENT, GEN, MWE, NFX, PDCE, PCG, PTXP, PNW, SC, SHOP, LEAF, TEGP, SYF, TEP, WEX, WECOn The Fly: Analyst Initiation Summary
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10:00 EDTANF, APOL, FBC, BRSS, HSBC, MLHR, NI, SYY, TCBOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abercrombie & Fitch (ANF) downgraded to Market Perform from Outperform at FBR Capital... Apollo Education (APOL) downgraded on enrollment uncertainty at BofA/Merrill... Flagstar Bancorp (FBC) downgraded to Hold from Buy at Sandler O'Neill... Global Brass and Copper (BRSS) downgraded to Hold from Buy at BB&T... HSBC (HSBC) downgraded to Neutral from Buy at Goldman... Herman Miller (MLHR) downgraded to Neutral at Longbow... NiSource (NI) downgraded on valuation, post spinoff outlook at Argus... Sysco (SYY) downgraded to Hold from Buy at Deutsche Bank... TCF Financial (TCB) downgraded to Hold from Buy at Sandler O'Neill.
10:00 EDTBCRX, CLGX, GFI, ING, LOW, PBR, BPOP, RES, RRC, SXL, SHOOn The Fly: Analyst Upgrade Summary
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10:00 EDTGLRIGlori Energy announces Mark Puckett as new Chairman of the Board
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10:00 EDTMPELMelco Crown spikes higher, levels to watch
The stock is up over 7.5% to $19.25 at time of writing on very heavy volume. At current price next resistance is at $19.39, the session high, and then $19.90, the 50-day moving average. The 50-day is a good proxy for a downtrend resistance line and a break above it would be bullish. Support is at $18.98.
10:00 EDTTreasury Action: yields pulled back from highs
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09:59 EDTCAGConAgra says SG&A and paying down debt will always be company priority
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09:59 EDTAMDAMD call activity attributed to speculation on potential break-up
AMD July weekly 2.5 calls are active on total call volume of 3,900 contracts (100 puts) on speculation on of potential break-up. July weekly call option implied volatility is at 88, July is at 89, August is at 68; compared to its 52-week range of 38 to 92. Active call volume suggests traders taking positions for large near term price movement.
09:57 EDTRSPPRSP Permian management to meet with Jefferies
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09:55 EDTU.S. Chicago PMI jumped 3.2 points to 49.4 in June
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09:52 EDTRMBSRambus management to meet with Jefferies
Meeting to be held in London on July 1 hosted by Jefferies.
09:50 EDTU.S. Chicago PMI preview:
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09:45 EDTHNPHuaneng Power announces Anyuan power plant commence operation
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09:45 EDTTreasury Option Action: mixed positioning
Treasury Option Action: mixed positioning remains the rule, amid reports of a bullish sale of 5k in August 125/September 125.5 put diagonals 10-year futures, along side a week 1/week 2 127.5/128.0 call calendar, thought to be a roll. There was also a purchase of 7k in August 118.0/120.75 risk reversal (buying calls) on 5-year futures. September 10s are 8.5-ticks lower near 126-30, compared to the 126-11 to 125-26 session range.
09:43 EDTStocks higher in early trading amid optimism over Greece
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09:41 EDTCAGConAgra 'not in position' to give comparable FY16 EPS due to divestiture
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09:40 EDTJUNOJuno Therapeutics gaps up on Celgene deal
Shares are up over 22% at time of writing to $56.70. At that price next support is at $54.85. Resistance is at $58.82.
09:40 EDTFX Action: The dollar has perked up
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09:37 EDTAMDRumor: AMD early strength attributed to speculation on potential break-up
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09:36 EDTVXXiPath S&P 500 VIX Short-Term Futures is recently down 89c to 19.40
09:36 EDTPNRPentair gaps up on Trian stake, levels to watch
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09:35 EDTMUMicron initiated with a Buy at Standpoint Research
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09:35 EDTAAPL, FB, GILD, BABA, BAC, MU, WYNN, MSFT, NFLXActive equity options trading on open
Active equity options trading on open: AAPL FB GILD BABA BAC MU WYNN MSFT NFLX
09:35 EDTAIRAAR Corp. to transfer Hot Springs MRO operations to Oklahoma City
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09:34 EDTFITFitbit initiated at RBC Capital
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09:33 EDTLABLMulti-Color initiated with a Buy at Sidoti
Target $76.
09:32 EDTTXTernium upgraded to Overweight from Neutral at JPMorgan
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09:30 EDTGreece asks for two-year bailout program from ESM, Bloomberg reports
09:29 EDTCBMGCellular Biomedicine says class action lawsuit without merit
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09:29 EDTRADARADA Electronic receives order for tactical air surveillance radar
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09:29 EDTTK, TOOTeekay to sell Petrojarl Knarr to Teekay Offshore for $1.26B
Teekay (TK) announced that it will complete the sale of the Petrojarl Knarr floating production, storage and offloading, or FPSO, unit to Teekay Offshore Partners (TOO) for its fully built-up cost of approximately $1.26B on July 1, subject to customary closing conditions. The FPSO has now completed the required operational testing to commence full charter rate under its long-term contract on the Knarr oil and gas field in the North Sea where BG Norge is the operator. In connection with sale of the Knarr FPSO, Teekay has agreed to invest $300M in Teekay Offshore common units at a price of $20.83 per unit, which is based upon a volume-weighted average price mechanism. The common units will be received in mid-July 2015, subject to customary closing conditions and after the record date for Teekay Offshore's Q2 of 2015 cash distribution.
09:27 EDTNMMNavios Maritime Partners announces long-term charter
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09:27 EDTAJGArthur J. Gallagher updates at-the-market equity program activity
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09:26 EDTTKTeekay increases dividend 75% to 55c
Teekay announced today that its Board of Directors has declared a cash dividend on its common stock of 55c per share for the quarter ended June 30, an increase of approximately 75% over the previous cash dividend of 31.625c per share. The cash dividend is payable on July 31 to all shareholders of record as at July 17.
09:26 EDTWSH, PNR, FIT, EMR, TASR, JUNO, KITE, LBIO, ZIOP, ALDR, BCRX, RCPT, ADXS, APOL, TWOn The Fly: Pre-market Movers
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09:23 EDTORMPOramed reports first screening of patient in Phase IIb trial of ORMD-0801
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09:22 EDTHOTStarwood’s Aloft Brand to expand portfolio in California
Starwood Hotels & Resorts Worldwide announced that its Aloft brand will soon add yet another destination to its California portfolio with the upcoming debut of Aloft Dublin-Pleasanton. “Designed for the evolving global traveller, Aloft is a great fit for the tech-forward Dublin-Pleasanton area,” said Brian McGuinness, senior VP, Specialty Select Brands for Starwood. “As one of the fastest growing brands in the history of hospitality, Aloft offers distinctive design, accessible technologies and a buzzing social atmosphere.”
09:20 EDTTreasury Action: yields steadied below highs
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09:20 EDTBalanced Auto Retooling Risks for U.S. Claims:
Balanced Auto Retooling Risks for U.S. Claims: The U.S. vehicle sector has shifted away from its historic pattern of concentrated retooling in the weeks surrounding the July 4th holiday, but the seasonal factors for initial claims seem to have caught-up with this structural shift, and analysts see balanced risks for claims through July around a 274k trajectory. The vehicle assembly rate may still bounce, as seen in July of last year, but the industrial production headline will face offsetting downside seasonal risk from the recent tendency for a utility sector underperformance in both June and July.
09:20 EDTTYLTyler Technologies awarded ICJ contract with Kern County, California
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09:18 EDTRRCRange Resources upgraded to Outperform from Market Perform at Raymond James
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09:16 EDTWBAWalgreens Boots Alliance price target raised to $95 from $85 at Leerink
Leerink said Walgreens Boots' new management is overhauling the U.S. retail division and the firm has greater confidence that cost reduction efforts will drive meaningful EPS growth in 2015 and 2016. The firm raised its price target on Walgreens shares to $95 from $85 and keeps its Outperform rating on the stock.
09:16 EDTJOESaint Joe Co. sees Q2 revenue $36M-$38M, one estimate $34.2M
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09:16 EDTJOESaint Joe Co. provides update on Bay-Walton County Sector Plan
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09:15 EDTANACAnacor price target raised to $85 from $72 at Wedbush
Wedbush believes that sales of Anacor's Kerydin drug have been impressive and could cause the company's Q2 results to beat expectations. The firm significantly raised its 2015-2017 Kerydin sales estimates and keeps an Outperform rating on Anacor.
09:14 EDTFLRFluor selected as preferred bidder to manage, operate Canadian Nuclear Labs
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09:14 EDTPKYParkway Properties announces Zenefits FTW new lease
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09:13 EDTDUKDuke Energy, Samsung SDI and Younicos to update energy system
Duke Energy, Samsung SDI and Younicos will team up to update Duke Energy's 36-megawatt energy storage and power management system at the company's Notrees Windpower Project in west Texas. The system, one of the nation's largest, has been operating since 2012 with lead acid batteries. Over the course of 2016, these batteries will be gradually replaced with lithium-ion technology.
09:13 EDTKATE, KORS, COHCowen lowers handbag estimates, calls Kate Spade favorite name in space
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09:11 EDTS&P/Case-Shiller Home Price Index data reported.
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09:10 EDTSNDK, MUSanDisk shares look oversold, says Argus
After SanDisk's (SNDK) stock dropped further in the wake of Micron's (MU) weak results, Argus says that NAND pricing appears to be stable to improving. The firm thinks that SanDisk's stock more than adequately reflects the challenges facing the company, and it reiterates a Buy rating on the shares.
09:10 EDTDRYSDryShips announces agreement to sell 6 Aframax Tankers
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09:10 EDTKNDIKandi Technologies venture receives $44.3M subsidy in China
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09:10 EDTSHOPShopify initiated with a Market Perform at Raymond James
09:10 EDTCBTCabot CEO: Company ‘disappointed’ with Supreme Court MATS ruling
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09:09 EDTADESAdvanced Emissions weakness overdone, says Lake Street
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09:09 EDTNEWTNewtek Technology Solutions expands data center operator
Newtek Business Services announced that Newtek Technology Solutions, one of The Company's wholly owned portfolio companies, has expanded its operations with its data center operator, IO, into New Jersey, the United Kingdom and Phoenix, Arizona. Newtek Technology Solutions is extending its cloud services to these regions to support the ongoing demand for its services. The expansion with IO is also in preparation for The Company's launch of a new suite of next generation cloud computing and storage services, and disaster recovery for small- to medium-sized businesses and large enterprises. T
09:07 EDTAMZNAmazon launching Selling on Amazon, Fulfillment by Amazon for firms in Mexico
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09:07 EDTHI, GEHillenbrand names Eric Teegarden Chief Accounting Officer
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09:07 EDTCASHMeta Financial announces purchase agreements fro $23M of new capital
Meta Financial announced that it entered into separate purchase agreements after market close on each of June 25, 2015 and June 29, 2015, under which the Company has agreed to sell to several institutional investors an aggregate of approximately 535,000 shares of the Company's common stock, for aggregate consideration of approximately $23 million. The Company intends to use the net proceeds from these proposed stock issuances to finance a future acquisition.
09:07 EDTNINiSource downgraded on valuation, post spinoff outlook at Argus
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09:06 EDTRYNRayonier acquires 18,000 acres of timberlands in Louisiana, Oregon
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09:06 EDTCASHMeta Financial announces purchase agreements for $23M of new capital
Meta Financial announced that it entered into separate purchase agreements after market close on each of June 25, 2015 and June 29, 2015, under which the company has agreed to sell to several institutional investors an aggregate of approximately 535,000 shares of the company's common stock, for aggregate consideration of approximately $23 million. The Company has agreed to sell shares of its common stock pursuant to each purchase agreement at a price per share equal to the closing price of the company's common stock on the date on which the company and the applicable investors entered into such purchase agreement. The company intends to use the net proceeds from these proposed stock issuances to finance a future acquisition.
09:05 EDTAVNRAvanir reports positive results from Nuedexta study
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09:05 EDTMTNVail Resorts closes acquisition of Perisher
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09:05 EDTKRCKilroy Realty raises $250M in a direct equity placement
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09:05 EDTCELG, JUNOCelgene may eventually acquire Juno, says Canaccord
Canaccord noted the deal between Celgene (CELG) and Juno Therapeutics (JUNO) and said the current deal structure may mean 2020 earnings may have to be adjusted lower as some of the company's programs are not eligible for a 50/50 split. Canaccord said Celgene may simply buy the rest of Juno to gain 100% of all the programs worldwide and reiterated its Buy rating and $156 price target on Celgene shares.
09:04 EDTCTCTWordStream, Constant Contact announce partnership
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09:04 EDTIMSCImplant Sciences sells 58 of its Qs-B220 desktop explosives to Finnish Airports
Implant Sciences announced that it has sold 58 of its QS-B220 desktop explosives trace detectors to Finnish Airports. The systems are scheduled to be deployed within the next several months.
09:04 EDTBBOXBlack Box among recipients of $7.9B U.S. Air Force contract
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09:04 EDTTSSMeta Payment Systems and NetSpend sign agreement extension
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09:04 EDTSSprint confirms 'All-In' pricing plan
Sprint introduces its “All-In” pricing plan, underscoring the company’s commitment to making wireless simpler, clearer and more straightforward for consumers. With All-In Wireless, consumers pay $80 per month for a wireless device and unlimited talk, text and high-speed data – the two most significant components on any wireless bill. With All-In, consumers pay $20 per month to lease one of its most popular smartphones, and $60 per month for unlimited text, talk and high-speed data while on the Sprint network. Consumers pay $0 down and only a one-time, $36 activation fee.
09:03 EDTBYDBoyd Gaming announecs expansion of Delta Downs racetrack casino hotel
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09:03 EDTCLGXCoreLogic upgraded to Overweight at Stephens
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09:02 EDTCDECoeur Mining price target raised to $7.25 from $6.50 at Roth Capital
After visiting Coeur's Rochester and Wharf mines, Roth Capital is impressed with what it sees as the company's operational improvements at Rochester and the resource growth potential at Wharf. The firm keeps a Buy rating on the stock.
09:02 EDTSZYM, BGSolazyme Bunge Renewable Oils completes redundant power, steam supplies
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09:02 EDTAMZNAmazon announces expansion in Mexico
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09:01 EDTTSSTSYS extends payments agreement with Banco INVEX
TSYS announced that it has extended its payments agreement with Mexico’s Banco INVEX S.A. The multi-year agreement includes processing services for INVEX’s consumer and commercial credit card portfolios. As part of the agreement, TSYS will continue to provide INVEX with additional services such as data analytics, fraud prevention and risk management tools. Financial terms of the agreement were not disclosed.
09:00 EDTNBL, ROSENoble Energy has multiple potential catalysts in 2H, says Wunderlich
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08:59 EDTLBIO, CELG, JUNOLion Biotech has positive read through from Celgene deal, says Roth Capital
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08:58 EDTGLUUGlu Mobile price target raised to $10 from $8 at Craig-Hallum
Craig-Hallum raised Glu Mobile's price target to $10 from $8 and said it sees modest upside to Q2 estimates and guidance, driven by game portfolio strength. The firm continues to see substantial upside to FY15 and FY16 consensus estimates and reiterates its Buy rating.
08:58 EDTWNDLF, BXWendel to acquire AlliedBarton Security Services for roughly $1.67B
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08:55 EDTJOESaint Joe Co. July volatility elevated
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08:53 EDTJUNO, CELGJuno Therapeutics price target raised to $83 from $66 at JPMorgan
JPMorgan raised Overweight rated Juno Therapeutics' (JUNO) price target to $83 from $66 following the announcement of a 10 year collaboration with Celgene (CELG). The firm said the partnership between the companies will be stronger than either single company or two separate entities.
08:52 EDTINSYInsys Therapeutics price target raised to $46 from $38 at Piper Jaffray
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08:50 EDTCCCCalgon Carbon can still enhance value after adverse ruling, says Roth Capital
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08:50 EDTFX Action: USD-CAD rallied some 50 pips on the Canadian GDP miss
FX Action: USD-CAD rallied some 50 pips on the Canadian GDP miss, making a peak of 1.2416, though the pair stalled shy of the Asia high at 1.2423 (which matched the three-week peak seen last Wednesday). The Canadian also saw about a 60 pip drop against the euro. Analysts expect further upside in USD-CAD. The unexpected 0.1% dip in April GDP followed sub-expectations IPPI data yesterday, while the U.S. June payrolls report on Thursday has potential to firm up convictions for the Fed to hike in September. USD-CAD support is at 1.2390 (100-day moving average) and 1.2350-62.
08:48 EDTNXPI, FSLFreescale to host special shareholder meeting
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08:47 EDT$DJTDJ Transportation Average: Pivot points
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08:46 EDT$DJUDJ Utility Average: Pivot points
The following are the pivot points for the $DJU. Pivot High: 556.650, Pivot Low: 547.460. These were calculated using the DeMark method. It is generally believed to be bullish when price breaks out above the pivot high or bearish when price breaks down below the pivot low.
08:46 EDTDJXDow Jones Industrial Average: Pivot points
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08:46 EDTIYTiShares Transportation Average: Pivot points
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08:46 EDTXLKTechnology Select Sector SPDR: Pivot points
The following are the pivot points for XLK. Pivot High: $41.710, Pivot Low: $41.000. These were calculated using the DeMark method. It is generally believed to be bullish when price breaks out above the pivot high or bearish when price breaks down below the pivot low.
08:46 EDTXLEEnergy Select Sector SPDR: Pivot points
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08:46 EDTXLYConsumer Discretionary Sector SPDR: Pivot points
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08:46 EDTXLBS&P Select Materials SPDR: Pivot points
The following are the pivot points for XLB. Pivot High: $48.705, Pivot Low: $47.725. These were calculated using the DeMark method. It is generally believed to be bullish when price breaks out above the pivot high or bearish when price breaks down below the pivot low.
08:46 EDTXLUUtilities SPDR: Pivot points
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08:46 EDTXLPConsumer Staples Sector SPDR: Pivot points
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08:46 EDTXLVHealth Care Select Sector SPDR: Pivot points
The following are the pivot points for XLV. Pivot High: $74.924, Pivot Low: $73.296. These were calculated using the DeMark method. It is generally believed to be bullish when price breaks out above the pivot high or bearish when price breaks down below the pivot low.
08:45 EDTIWMiShares Trust Russell 2000 Index Fund: Pivot points
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08:45 EDTDIADiamonds Fund ETF: Pivot points
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08:45 EDTSPYStandard and Poor's Depository Receipts: Pivot points
The following are the pivot points for SPY. Pivot High: $207.624, Pivot Low: $203.126. These were calculated using the DeMark method. It is generally believed to be bullish when price breaks out above the pivot high or bearish when price breaks down below the pivot low.
08:45 EDTXLFFinancial Select Sector: Pivot points
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08:45 EDTSMHMarket Vectors Semiconductor: Pivot points
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08:45 EDTQQQNASDAQ 100 Index Tracking Stock: Pivot points
The following are the pivot points for QQQ. Pivot High: $107.675, Pivot Low: $105.655. These were calculated using the DeMark method. It is generally believed to be bullish when price breaks out above the pivot high or bearish when price breaks down below the pivot low.
08:45 EDTSPXS&P 500: Pivot points
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08:45 EDT$COMPNasdaq Composite: Pivot points
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08:45 EDTBCRXBioCryst upgraded to Buy on BCX7353 potential at BofA/Merrill
As previously reported, BofA/Merrill upgraded BioCryst to Buy from Neutral and increased its price target to $19 from $12. The firm raised the probability of BCX7353 approval to 40% from 25% given validation of the plasma kallikrein target by both ‘4161 and competitor product and now assign a $13/share value versus near zero previously. BofA/Merrill is now assigning a modest negative value for '4161 versus approximately $7/share previously.
08:45 EDTNDXNasdaq 100 Index: Pivot points
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08:42 EDTIMPVImperva price target raised to $80 from $66 at Piper Jaffray
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08:41 EDTHRTXHeron Therapeutics price target raised to $33 from $25 at JMP Securities
After meeting with Heron's management, JMP Securities believes that momentum is building for the company's acute pain program. The firm expects data slated to be announced next quarter to eliminate the program's risk. It keeps an Outperform rating on the shares.
08:40 EDTFSL, NXPINXP Semiconductors to host special shareholder meeting
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08:40 EDTASCArdmore Shipping announces delivery of Ardmore Seafox
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08:39 EDTAPOLApollo Education downgraded on enrollment uncertainty at BofA/Merrill
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08:37 EDTTWTR, GOOG, GOOGLTwitter integration with Google could accelerate user growth, says Canaccord
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08:36 EDTBRGBluerock Residential approves acquisition of Century Palms for $37M
Bluerock Residential Growth REIT announced that it has approved the acquisition of a 252-unit Class A apartment community in Orlando, Florida, known as Century Palms at World Gateway. The average market rent for the community is approximately $1,170 per month. BRG plans to refresh the eight-year old complex and bring rents in line with luxury properties in the area. BRG plans to purchase Century Palms for $37.0M or $146,825 per unit, which compares favorably to recent comparable asset sales averaging approximately $165,000. The Company's underwriting assumes a stabilized cap rate of 6.4%, vs. local market cap rates of approximately 5.3% - 5.5%. Pursuant to a cost sharing agreement with Carroll, BRG will invest 95% of the venture's equity requirement, or approximately $13.5M. The Company expects to further capitalize the property with a loan of approximately $25M.
08:35 EDTPIR, TUESPier 1 Imports names Jeffrey Boyer as EVP, CFO
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08:35 EDTSGNLSignal Genetics announces MSA
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08:35 EDTATHN, CERNathenahealth weakness a buying opportunity, says SunTrust
SunTrust said it views the 22% year-to-date pullback in athenahealth (ATHN) as a buying opportunity, noting that it thinks the stock is waiting for a large ambulatory deal announcement to move higher. The firm views the Coordinator Enterprise deal the company announced yesterday with UAB as adding an important new customer and indicates that CE is gaining traction in the market, but said that it would likely be hard for Athena to unseat Cerner (CERN), which it believes is UAB’s primary HIT vendor. The firm has a Buy rating on athenahealth shares.
08:35 EDTBRCM, AVGOBroadcom risk/reward looks positive, says Bernstein
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08:34 EDTEFOIEnergy Focus ships orders for Royal Australian Navy
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08:34 EDTAAAlcoa to close Pocos smelter in Brazil
Alcoa announced that it will permanently close its Poços de Caldas primary aluminum smelter in Brazil on June 30, 2015. The smelter has been curtailed since May 2014 and the underlying market conditions that led to the curtailment have not improved. “The closure of the Poços smelter permanently removes a high-cost smelting facility from the Alcoa system and is another step in creating a more profitable Primary Metals business,” said Alcoa Global Primary Products President Bob Wilt. Once the Poços smelter is closed, Alcoa’s total global smelting capacity will be reduced by 96,000 metric tons, to 3.4 million metric tons. The Poços mine, refinery, aluminum powder plant and casthouse will continue normal operations. As a result of the closure, Alcoa expects to record restructuring-related charges in second quarter 2015 between $100M-$110M after-tax, or 8c-9c per share, of which approximately 60 percent is non-cash.
08:33 EDTSCHNSchnitzer Steel sees FY effective tax rate 4%
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08:33 EDTSCHNSchnitzer Steel sees incurring restructuring charges of approx. $10M
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08:33 EDTEGYVAALCO Energy appoints Cary Bounds as COO
VAALCO Energy announced that Cary Bounds will join VAALCO as COO effective July 6. Bounds is a petroleum engineer and has almost 25 years of domestic and international asset management, business development, planning and technical engineering experience at large, multinational energy companies as well as at mid-sized and larger independent E&P companies. From 2010 until joining VAALCO, Bounds was employed with Noble Energy where he held upstream positions in international assets management.
08:33 EDTPMEPingtan Marine Enterprise purchases six internationally licensed fishing vessels
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08:33 EDTSTJSt. Jude Medical announces launch of ILUMIEN III clinical trial
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08:32 EDTSCHNSchnitzer Steel reports Q3 adjusted EPS 0c, consensus (14c)
Reports Q3 revenue $467.3M, consensus $503.76M. Adjustments included charges for restructuring and exit-related costs and asset impairments. Third quarter adjusted results included an adverse impact from average inventory accounting of approximately $0.40 per share which compares to a second quarter adverse impact of $0.36 per share and a prior year third quarter adverse impact of $0.09 per share. Based on current market trends, estimated adverse inventory effects are expected to be substantially reduced in the fourth quarter. The Company reported third quarter loss per share from continuing operations of $0.31, including $6 million in restructuring and exit-related costs and $1 million in asset impairments.
08:32 EDTTUESTuesday Morning announces resignation of CFO Jeffrey Boyer
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08:31 EDTNVFYNova Lifestyle forms special committee to consider inquiries to invest in co.
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08:31 EDTMLHRHerman Miller downgraded to Neutral at Longbow
As previously reported, Longbow downgraded Herman Miller to Neutral from Buy. The firm expects shares to be range-bound in the low $30s over the next several quarters due to increasing SG&A expenses, currency headwinds, and lack of revenue repeat from a large energy project.
08:31 EDTPBYPep Boys announces review of strategic alternatives
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08:30 EDTPBYPep Boys announces review of strategic alternatives
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08:27 EDTDTEADAVIDsTEA initiated with a Neutral at Goldman
Target $21.
08:27 EDTPRGO, MYL, TEVAPerrigo deal for Roxane would make Mylan fight harder, says Citi
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08:26 EDTBXLTBaxalta initiated with a Neutral at Goldman
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08:25 EDTTBPHTheravance Biopharma granted authorization in Russia for Vibativ
Theravance Biopharma announced that the Ministry of Health of the Russian Federation has granted marketing authorization for VIBATIV, or telavancin, for the treatment of complicated skin and soft tissue infections, as well as nosocomial pneumonia, caused by Gram-positive bacteria, including methicillin-resistance Staphylococcus aureus. VIBATIV is a bactericidal, once-daily antibiotic with in vitro potency and a dual mechanism of action against Gram-positive bacteria, including difficult-to-treat pathogens such as MRSA. VIBATIV will be marketed and sold in Russia by R-Pharm and is expected to become commercially available in September.
08:25 EDTU.S. equities are in recovery mode
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08:22 EDTTGENTecogen sells CHP system to Columbia Association
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08:22 EDTCPRXCatalyst Pharmaceutical appoints Dr. Gary Ingenito as Chief Medical Officer
Catalyst Pharmaceuticals announced the appointment of Gary Ingenito, M.D., Ph.D, as Chief Medical Officer. Following Dr. Ingenito’s joining Catalyst, the current Chief Medical Officer, Charles Gorodetzky, M.D., Ph.D, will continue to serve as a consultant to the company.
08:22 EDTMSFT, VZ, GOOG, GOOGLMicrosoft deal with AOL for Bing doesn't move needle, says Citi
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08:21 EDTKANGiKang Healthcare acquires Yinchuan Ciming Medical Center
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08:20 EDTMDRXAllscripts takes $200M equity position in NantHealth
Allscripts announced they have taken a significant step forward in their strategic partnership through two cross-investments and a strengthening of their commercial agreement. The investments include Allscripts' purchase of a 10% equity stake in NantHealth for $200M in cash. In addition, NantCapital, LLC, the personal investment vehicle of Dr. Patrick Soon-Shiong, founder of NantHealth, has made a $100M investment into Allscripts.
08:19 EDTWRWestar Energy management to meet with Guggenheim
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08:18 EDTVLRSVolaris management to meet with Evercore ISI
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08:18 EDTNEOTNeothetics initiates post-treatment safety, duration of effect study of LIPO-202
Neothetics announced the initiation of the post-treatment safety and duration of effect study, LIPO-202-CL-23, of LIPO-202, the first non-invasive injectable drug candidate for reduction of central abdominal bulging due to subcutaneous fat in non-obese subjects. This is a supplemental safety study that Neothetics expects to submit to the FDA as part of the company's New Drug Application package for LIPO-202, which the company anticipates filing in the second half of 2016.
08:18 EDTORMPOramed submits protocol for Phase IIb trial of ORMD-0801 to FDA
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08:18 EDTTRVNTrevena management to meet with Needham
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08:17 EDTAPOLApollo Education price target lowered to $20 from $29 at BMO Capital
BMO Capital cut its price target on Apollo after the company reported higher than expected Q3 EPS but lowered its fiscal 2015 guidance. The firm says that the company's Q3 enrollment and revenue were "subpar," and it thinks the company will continue to shrink. However, BMO adds that it still believes that "the stock is worth looking at on a sum of the parts basis." It keeps an Outperform rating on the shares.
08:17 EDTEADSYAirbus sued by AirAsia crash families for ‘dangerous’ systems, Bloomberg says
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08:16 EDTPNRTrian confirms 7.24% stake in Pentair, urges company to pursue M&A
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08:16 EDTTGCTengasco confirms ICN Fund I tender offer
Tengasco confirmed that ICN Fund I commenced an unsolicited tender offer on June 26, 2015 to acquire all of the outstanding shares of Tengasco common stock at a price of 27.36c per share. Consistent with its fiduciary duties, Tengasco's Board of Directors, in consultation with its advisors, will review the offer. The Board intends to advise stockholders of its formal position regarding the tender offer within ten business days by making available to Tengasco's stockholders and filing with the SEC a solicitation/recommendation statement on Schedule 14D-9. Tengasco's stockholders are advised to take no action at this time pending the review of the tender offer by the Company's Board.
08:14 EDTPEBOPeoples Bancorp coverage resumed with a Neutral at Boenning & Scattergood
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08:14 EDTTRVNTrevena management to meet with JMP Securities
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08:13 EDTSPNSSapiens management to meet with Roth Capital
Meetings to be held in Los Angeles on July 7 and in San Francisco on July 8 hosted by Roth Capital.
08:12 EDTSLGSL Green Realty management to meet with Evercore ISI
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08:12 EDTUALUnited Airlines announces $30M equity investment in Fulcrum BioEnergy
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08:11 EDTSCVLShoe Carnival management to meet with Sterne Agee CRT
Meetings to be held in Dallas July 7-8 hosted by Sterne Agee CRT.
08:10 EDTRLIRLI Corp. management to meet with FBR Capital
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08:10 EDTVXXiPath S&P 500 VIX Short-Term Futures at 20.27
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08:10 EDTU.S. chain store sales rose 2.2% in the week ended June 27
U.S. chain store sales rose 2.2% in the week ended June 27, after a 1.6% gain in the prior week, according to data from The Retail Economist. It's a third consecutive weekly increase. The annual rate accelerated to a 2.7% y/y clip rising 1.5% y/y previously. There have been some encouraging signs that the improved employment conditions are driving sales higher.
08:09 EDTIPWRIdeal Power management to meet with Craig Hallum
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08:09 EDTSHOPShopify initiated with an Equal Weight at Morgan Stanley
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08:09 EDTUNP, NSC, CNI, CP, CSX, KSURail estimates need to come down further, says Citi
Citi analyst Christian Wetherbee noted that consensus estimates in the rail sector for Q2 EPS have fallen an average of 8% since the firm moved below consensus last month, but believes the numbers have to come down further. Wetherbee cut his Q2 estimates by another 5%, lowered Q3 by 4% and cut his forecast for 2016 EPS by 3% and lowered price targets on stocks in the space by 6% on average. Wetherbee added that he believes Union Pacific (UNP) and Norfolk Southern (NSC) have the highest the pre-announcement risk in the group and lowered his targets on those stocks, as well as for Canadian National (CNI), Canadian Pacific (CP), CSX (CSC) and Kansas City Southern (KSU).
08:08 EDTCELG, JUNOCelgene deal positive, says JMP Securities
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08:08 EDTELNKEarthLink management to meet with B. Riley
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08:08 EDTAZZAZZ to construct galvanizing plant near Reno
AZZ announced the construction of a new hot-dip galvanizing plant near Reno, Nevada. The new 25 acre plant site is located in the Tahoe-Reno Industrial Center east of Sparks, Nevada will be open for business by January of 2016. Upon completion of the new Reno facility, AZZ Galvanizing Services will operate a network of 43 hot-dip galvanizing plants in the U.S. and Canada. The new Reno plant will be an environmentally friendly, state of the art, 50,000-square foot facility.
08:08 EDTAINV, MCPIQApollo Investment discloses it sold entire position in Molycorp
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08:08 EDTXPOXPO Logistics coverage resumed with an Overweight at Morgan Stanley
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08:07 EDTDPLODiplomat Pharmacy management to meet with William Blair
Meetings to be held in Minneapolis on July7 and in Milwaukee on July 8 hosted by William Blair.
08:07 EDTPIRSPieris Pharmaceuticals 9.091M share Secondary priced at $2.75
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08:06 EDTUISUnisys survey reveals Americans believe their personal data is not safe
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08:06 EDTPEI, TPennsylvania REIT signs AT&T for 1501 Walnut Street
PREIT (PEI) announced the execution of a lease with AT&T (T) Mobility for their recently acquired asset located at 1501 Walnut Street in the heart of Center City Philadelphia. The company acquired the 27,000 square foot property in 2014 with plans to reposition the property.
08:06 EDTNVIVInVivo says Rutgers Medical School new clinical site for Neuro-Spinal Scaffold
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08:06 EDTARES, PEGAres EIF sells Keys Energy Center to PSEG Power
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08:05 EDTGNLGlobal Net Lease announces preliminary results of tender offer
Global Net Lease announced the preliminary results of its tender offer for the purchase of up to 11,904,761 shares of its common stock, which expired at 12:00 midnight, Eastern Time, on June 29, 2015. Based on the preliminary count by DST Systems, Inc., the paying agent and depositary for the tender offer, a total of 127,904,350 shares of the company's common stock were validly tendered and not properly withdrawn at the purchase price of $10.50 per share, including 1,266,536 shares that were tendered through notice of guaranteed delivery.
08:05 EDTBPOPPopular upgraded to Equal Weight from Underweight at Morgan Stanley
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08:05 EDTAFSIAmTrust management to meet with JMP Securities
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08:05 EDTPCLNPriceline July volatility increases as shares pullback
Priceline July weekly call option implied volatility is at 27, July is at 25, August is at 29; compared to its 52-week range of 17 to 39, suggesting large near term price movement.
08:04 EDTOMNOmnova Solutions backs FY15 adjusted EPS to have 'significant growth'
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08:04 EDTCSCOCisco to acquire OpenDNS for $635M
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08:04 EDTCMCOColumbus McKinnon to host analyst and investor day
Analyst and Investor Day to be held on July 7 at 9 am. Webcast Link
08:04 EDTOMNOmnova Solutions reports Q2 adjusted EPS 11c, consensus 11c
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08:03 EDTSLFSun Life Financial to purchase Prime Advisors
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08:03 EDTLOWLowe's upgraded to Outperform at BMO Capital
As previously reported, BMO Capital upgraded Lowe's (LOW) to Outperform and increased its price target to $81 from $73. The firm's State Economic Scoreboard research indicates stronger relative housing improvement and overall economic activity in Southeastern states, where Lowe's has a larger store footprint. The firm said sales to the Pro segment could accelerate and potentially narrow the gap in comp-store sales with Home Depot (HD) if growth broadens in the coming months. Additionally, strengthening Q2 housing metrics and robust relative traffic give the firm increased confidence in its 4% Q2 comp-store sales forecast for Lowe's.
08:03 EDTHILL, CRDSDot Hill Systems files patent infringment suit against Crossroads Systems
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08:02 EDTOSISOSI Systems awarded $5M order for Healthcare Solutions
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08:02 EDTHLTCanopy by Hilton plans first hotel in Iceland's capital
Canopy by Hilton, Hilton Worldwide’s new hotel brand that redefines the lifestyle hotel category, and Icelandair Hotels have unveiled plans for Canopy’s first hotel in Iceland’s capital -- Reykjavik. "Canopy Reykjavik City Centre" is expected to be the first hotel globally to open in the brand’s portfolio, which launched in October 2014.
08:02 EDTSLTCSelectica management to meet with Lake Street
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08:02 EDTJECJacobs Engineering in Joint Venture for Melbourne metro rail project contract
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08:00 EDTGTT, TGTT Communications, AT&T sign long-term interconnection agreement
GTT Communications (GTT) and AT&T (T) have signed a long-term, bilateral agreement for their IP networks. As the Internet continues to evolve, collaborations between Internet providers facilitate the dynamic, robust and reliable exchange of Internet traffic. “We are pleased that our agreement with AT&T provides our clients with additional capacity,” said Rick Calder, GTT President and CEO. “We continue to work with AT&T to expand a secure and resilient interconnection environment so our clients can depend on the reliability and performance of GTT’s high-capacity network.”
08:00 EDTPRTKParatek Pharmaceuticals management to meet with Guggenheim
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08:00 EDTTreasury Market Outlook: bonds have given back some of Monday's gains
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07:59 EDTPEIPennsylvania REIT management to meet with SunTrust
Meeting to be held in New York on July 6 hosted by SunTrust.
07:59 EDTJBLUJetBlue eliminates free checked bag with cheapest fare, Bloomberg says
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07:58 EDTOFCCorporate Office Properties management to meet with Evercore ISI
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07:58 EDTKFYKorn/Ferry management to meet with SunTrust
Meetings to be held in the Midwest July 6-8 hosted by SunTrust.
07:57 EDTSHOPShopify initiated with a Hold at Canaccord
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07:56 EDTSQNMACOG opinion on NIPT not as bullish as hoped for Sequenom, says William Blair
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07:55 EDTGWREGuidewire management to meet with Stephens
Meetings to be held in Milwaukee/Chicago July 6-7 hosted by Stephens.
07:51 EDTEBAYeBay PayPal outlook positive, says Bernstein
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07:50 EDTFBCFlagstar Bancorp downgraded to Hold from Buy at Sandler O'Neill
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07:50 EDTSTZConstellation Brands July volatility increases into Q1 and outlook
Constellation Brands July call option implied volatility is at 28, August is at 22, October is at 23; compared to its 52-week range of 16 to 31, suggesting large near term price movement into the expected release of Q1 results on July 2.
07:50 EDTTCBTCF Financial downgraded to Hold from Buy at Sandler O'Neill
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07:49 EDTEVHEvolent Health initiated with an Outperform at William Blair
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07:48 EDTENLCEnLink Midstream initiated with a Neutral at JPMorgan
Target $36.
07:47 EDTENLKEnLink Midstream initiated with a Neutral at JPMorgan
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07:47 EDTCELG, JUNOCelgene paid high price for CAR T access, says Bernstein
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07:47 EDTDTEADAVIDsTEA initiated with an Outperform at William Blair
07:46 EDTGCAGlobal Cash Access management to meet with Sterne Agee CRT
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07:46 EDTCSVIComputer Services selected by Clay City Bank for core platform, IT services
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07:46 EDTDTEADAVIDsTEA initiated with a Neutral at JPMorgan
Target $24.
07:45 EDTBURLBurlington Stores management to meet with SunTrust
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07:45 EDTVOD, DTEGY, BT, TEF, TI, ORANEU agrees to enact 'net neutrality' law, WSJ reports
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07:45 EDTCGIXCancer Genetics awarded multimillion dollar clinical trial
Cancer Genetics announced that it has been awarded a multimillion dollar, clinical trial in hematological cancers by a leading biotech company – the trial is the largest in the company's history of providing clinical trial and genomic services to global biopharma companies. As part of the agreement, CGI will perform all testing, and provide genomic information and monitoring for CLL patients enrolled in multi-arm, randomized, multicenter, global trials. The CLL trials are expected to contribute up to $6.2M in revenue over several years as patients are selected, treated, and monitored using pathway-specific, targeted therapies, and combination therapies.
07:43 EDTKMXCarMax initiated with a Neutral at SunTrust
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07:42 EDTEVHEvolent Health initiated with a Buy at SunTrust
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07:41 EDTPCLN, AWAY, TRIP, EXPEOnline travel trends point to solid Q2, says Piper Jaffray
Piper Jaffray analyst Michael Olson said analysis of travel industry trends through May point to a "solid" second quarter for online travel, noting his belief that Priceline (PCLN) has the most favorable risk/reward in the space given the stock's underperformance so far this year. In addition to an Overweight rating on Priceline, Olson keeps an Overweight on HomeAway (AWAY) and TripAdvisor (TRIP), but has a Neutral rating on Expedia (EXPE), citing its relative valuation.
07:40 EDTLBL Brands price target raised to $82 from $70 at Oppenheimer
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07:40 EDTEVHEvolent Health initiated with an Overweight at JPMorgan
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07:40 EDTGIEndoChoice initiated with an Overweight at JPMorgan
Target $26.
07:40 EDTNY Fed dove Dudley discussed payment system specifics
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07:39 EDTKRFTKraft Foods to host special shareholder meeting
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07:38 EDTGLWCorning agrees to purchase pharmaceutical glass tubing business for EUR 196M
Corning announced that it has reached a definitive agreement with Gerresheimer AG to acquire its pharmaceutical glass tubing business for EUR 196M. The deal is expected to be completed by year-end, subject to customary closing conditions, including receipt of regulatory approvals.
07:37 EDTYGEYingli Green Energy completes bond financing $3.2M for solar project
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07:35 EDTNCRNCR delays binding bidding deadline to July 26, NY Post reports
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07:35 EDTCAGConAgra says to take 'more aggressive approach' to cost reduction
Sees "prudent" divestitures and acquisitions.
07:35 EDTTASRTASER receives order for three hundreds Axon Flex video cameras
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07:34 EDTCAGConAgra sees Q1 adjusted EPS 'roughly in line' with year-ago
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07:34 EDTCAGConAgra reports Q4 Consumer Foods segment sales approx. $1.9B
Sales for the Commercial Foods segment were $1.2B and operating profit was $154M, as reported, ahead of prior year amounts. Sales for the Private Brands segment were $1B, down slightly. The company estimates that the extra week favorably impacted sales and volume by approximately 7%.
07:33 EDTIMAXIMAX optioned several theatrical rights
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07:33 EDTNINiSource downgraded to Sell from Hold at Argus
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07:33 EDTENTA, TRNGEnanta appoints Nathalie Adda as SVP, chief medical officer
Enanta Pharmaceuticals (ENTA) announced the appointment of Nathalie Adda, M.D., as senior VP and chief medical officer, responsible for clinical and regulatory affairs. Most recently, Adda was chief medical officer, VP Clinical Development, Medical and Regulatory Affairs at Transgene (TRNG), where she led the Oncology and Infectious Disease programs since 2012.
07:32 EDTVRTXVertex should get Orkambi approval by Monday or sooner, says Piper Jaffray
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07:32 EDTSUNESunEdison inaugurates 50MW DC solar power plant in central India
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07:32 EDTCAGConAgra sees Q1 'unaffected by outcome' of Private Brands review
The company will offer details on full-year fiscal 2016 expected EPS, as well as long-term financial guidance, at an investor event likely to be scheduled for the fall of 2015. This event will be scheduled after the company completes its assessment of strategic alternatives for the Private Brands operations, and determines SG&A reduction targets and investment needs for the remainder of the company. With regard to first quarter of fiscal 2016, which the company expects to be unaffected by the outcome of the review of strategic alternatives for the Private Brands operations, the company expects EPS, adjusted for items impacting comparability, to be roughly in line with comparable year-ago amounts. With regard to plans for the rest of the company, the company’s new focus will be on: Productivity, notably within SG&A, but also in terms of supply chain and trade spending. The company sees significant margin potential through these initiatives. Driving profitable growth in the Consumer Foods segment and at Lamb Weston potato operations -- within the Commercial Foods segment. This will involve further portfolio segmentation, and investing behind the highest-potential categories in a disciplined manner. Investment may include marketing, infrastructure, innovation, and acquired businesses. The company expects some additional divestitures as it continues to refine the asset mix. Balanced capital allocation that includes growing the dividend over time, increasing share repurchases, and having an investment-grade balance sheet. Financial expectations and operating details regarding the above will be shared as part of the investor event later this year.
07:32 EDTSHOSunstone Hotel upgraded on improved risk outlook at Wells Fargo
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07:32 EDTCELG, JUNO, ABBV, GILDJuno pact leaves Celgene set for growth past Revlimid, says Deutsche Bank
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07:32 EDTSINOSino-Global secures first priority ship lien on vessel
Sino-Global announced that it secured a first priority ship lien from Rong Yao International Shipping Limited on the 8,818 gross tonnage oil/chemical transportation tanker called the "Rong Zhou", being acquired by the company pursuant to the previously announced Asset Purchase Agreement, and received a net payment of $225,000 in the first month of operation under a previously disclosed two-year time charter agreement for the Vessel which obligates the chartering party to pay Sino-Global every 15 days at a daily rate of $7,500. In the event the acquisition of the Vessel by the company does not occur, pursuant to the Purchase Agreement, the Vessel Seller is required to immediately pay to the company $2.22M in cash, the agreed value of the 1.2M shares previously issued by the company to the Vessel Seller as the first installment of the purchase price of the Vessel. The placing of the lien on the Vessel provides the Company with a definitive mechanism to assist the company in obtaining the $2.22M value of the shares issued to the Vessel Seller if the Vessel acquisition does not occur. The company believes, based on current expectations and information, that during the 2-year term of the TCA, the company will generate revenues and net profit of approximately $5 million and $1.8 million, respectively. Sino-Global intended to close on the acquisition of the Vessel by June 30, 2015, but agreed to extend the closing date in order to assist the Vessel Seller in satisfying its closing conditions pursuant to the Purchase Agreement.
07:32 EDTCAGConAgra plans to exit Private Brands operations
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07:31 EDTAEZSAeterna Zentaris recruited 500 patients for pivotal Phase 3 ZoptEC study
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07:31 EDTPAYXPaychex volatility increases into Q4 and outlook
Paychex July call option implied volatility is at 22, August is at 17, December is at 17; compared to its 52-week range of 13 to 20, suggesting non-directional price movement into the expected release of Q4 results on July 1.
07:31 EDTCAGConAgra reports Q4 adjusted EPS 59c, consensus 59c
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07:29 EDTWMTNon-profit group: Wal-Mart made deceptive ‘Made in the USA’ claims
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07:28 EDTDLTR, FDODollar Tree shares poised to outperform, says Wells Fargo
Wells Fargo predicts that Dollar Tree will be re-ranked by quantitative investment models following its merger with Family Dollar (FDO), enabling Dollar Tree's stock to outperform. The firm predicts that Dollar Tree's P/E ratio will become much lower versus its peers after the merger closes. Wells keeps an Outperform rating on Dollar Tree.
07:25 EDTMHRMagnum Hunter provides update on previously disclosed class action lawsuit
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07:23 EDTEBAYCore eBay will provide 'unique value opportunity,' says Wells Fargo
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07:23 EDTKOSKosmos management to meet with Deutsche Bank
Meetings to be held in Geneva/Zurich on June 30 hosted by Deutsche Bank.
13:55 EDTBloomberg Government to hold a webinar
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07:22 EDTEMREmerson Electric volatility low into plans to spin off Network Power unit
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07:20 EDTSYYSysco downgraded to Hold at Deutsche Bank after terminating US Foods deal
As previously reported, Deutsche Bank analyst Karen Short downgraded Sysco to Hold from Buy after the company announced yesterday that it has terminated its merger agreement with rival US Foods. Short said the company's buyback in place of the merger is less meaningful than she had hoped for, that future cost savings could be smaller than expected and that competition may increase in the near-term. The analyst cut her price target on Sysco to $40 from $50.
13:55 EDTFood & Drug Law Institute to hold a webinar
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07:19 EDTECLEcolab management to meet with Deutsche Bank
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07:17 EDTEVEREverBank shares attractive ahead of Q2 results, says Wells Fargo
Wells Fargo recommends EverBank heading into the company's Q2 results, as the firm says that the bank is well-managed but has yet to participate in the mid-cap bank rally.
11:55 EDTThe Cato Institute holds a discussion
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07:16 EDTALSMY, GEAlstom CEO Kron ‘confident’ that EU approves GE transaction, Reuters reports
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07:15 EDTAGOAssured Guaranty exposure to Puerto Rico manageable, says UBS
UBS said the shares of Assured Guaranty appear to be discounting a substantial loss due comments made by Puerto Rico's governor that it will be unable to make payments on its outstanding debt. The firm feels Assured's exposure to Puerto Rico is manageable, but will remain an overhang on the shares. UBS reiterated its Buy rating and $31 price target on the stock.
07:15 EDTCMCSA, GRPN, HSIIExecutives' Club of Chicago to hold a discussion
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07:14 EDTCELG, JUNOCelgene deal with Juno Therapeutics probably good, says UBS
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07:14 EDTThe Economic Club of Minnesota to hold a meeting
The Economic Club of Minnesota holds a meeting entitled, "E.U. in the U.S. 2015" in Minneapolis on June 30 at 8:30 am.
07:13 EDTCSCO, SNPS, PDLI, CTCT, RMBS, EQIX, GOGO, ZBRA, SABR, TIVO, PRAANasdaq to hold a conference
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07:11 EDTPBRPetrobras sees no need to issue new shares, WSJ says
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07:11 EDTADSKAutodesk reseller checks weak, says Pacific Crest
Pacific Crest said Autodesk reseller checks are week with one month left in Q2, as most resellers are behind target. The firm said the results are not likely to surprise as expectations are low and remains a buyer long-term. Pacific Crest rates Autodesk an Overweight.
07:11 EDTCELG, JUNOCelgene deal solidifies position in oncology, says Cantor
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07:11 EDTADMAADMA Biologics receives notice of allowance for RI-002 patent
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07:08 EDTGOOG, GOOGL, FB, AAPLGoogle apps take up nearly as much user time as Facebook’s apps, WSJ says
A study released by Forrester Research suggests that U.S. smartphone users in late 2014 spent roughly 12% of their time in Google (GOOG) apps, just below the 13% spent on Facebook (FB) apps, the Wall Street Journal reports. The time spent on Google apps is likely to be “much higher” since respondents were only asked to list apps they downloaded and the time spent on them, excluding apps pre-loaded on certain Google phones, the report says. The same is true of Apple’s (AAPL) apps, amounting to 3% of users time, the report says. Reference Link
07:08 EDTSHOPShopify initiated with a Sector Weight at Pacific Crest
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07:07 EDTPCLNPriceline checks positive, says Cantor
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07:06 EDTFutures higher amid Greek deal optimism
U.S. equity futures are higher following a late night offer from the EU to Greece, which the country is reportedly considering. The fact both sides are talking is raising hopes that a deal can be reached and an exit from the euro can be avoided. In the U.S., investors will be watching the Case/Shiller home price report, Chicago purchasing manager’s report and a consumer confidence reading for clues on our own economy.
07:05 EDTGSTGastar Exploration reports initial 30-day average production of 20.2 MMcf/d
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07:05 EDTETRMEnteroMedics files raises $35M in common stock and warrants
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07:03 EDTCELG, JUNO, AMGN, KITE, BLCM, CLLS, LBIO, BLUECelgene leaps forward in immuno-oncology with Juno deal, says Piper Jaffray
Piper Jaffray analyst Joshua Schimmer said that Celgene (CELG) effectively spent $1B to buy into adoptive T cell therapy and own all of Juno Therapeutics' (JUNO) opportunities outside the U.S., leaping the company into a leading position in the immuno-oncology space. Schimmer additionally thinks Celgene's transaction should help boost investor confidence about the utility and value of CAR and TCR therapies, noting that he sees Bellicum Pharmaceuticals (BLCM), Cellectis (CLLS), Lion Biotechnologies (LBIO), bluebird bio (BLUE) and the Amgen (AMGN)-Kite Pharma (KITE) partnership as best positioned to compete in this rapidly advancing field. The analyst keeps an Overweight rating and $144 price target on Celgene.
07:03 EDTPDCEPDC Energy initiated with a Buy at Canaccord
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07:03 EDTJUNO, CELGJuno volatility low into announcing immunotherapy collaboration with Celgene
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07:03 EDTPKIPerkinElmer price target raised to $60 from $53 at Stifel
Stifel says that PerkinElmer's recent multiple expansion appears to be sustainable, and the firm thinks that the company's operating margin can increase to about 20.5% in 2018, up from about 17.6% in 2014. The firm keeps a Buy rating on the stock.
07:03 EDTRXDXIgnyta release clinical trial assay to support patient enrollment in STARTRK
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07:02 EDTCLGXCoreLogic upgraded to Overweight from Equal Weight at Stephens
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07:02 EDTANFAbercrombie & Fitch downgraded to Market Perform from Outperform at FBR Capital
FBR Capital downgraded Abercrombie & Fitch to Market Perform and maintained its $24 price target. The firm said store productivity could be pressured across segments as the brand image turnaround is a ways out and may require a new generation of consumers. FBR said sweeping cultural changes are positive but benefits will take time, there is potential for continued margin pressure from international, and the teen/young adult industry is in a multiyear transition.
07:02 EDTXLNXXilinx announces collaboration with CMRI to develop NGFI
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07:01 EDTAVEOAVEO Oncology to present additional biomarker analyses from BATON-CRC study
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06:58 EDTS, AAPL, SSNLFSprint to roll out $80 a month 'All-in' plan, Reuters reports
Sprint (S) will today launch an $80 a month "All-in" cellular phone plan, Reuters reports. Chief Marketing Officer Kevin Crull says the plan will offer unlimited talk, text and data at $60, plus $20 to lease phones like the iPhone 6 (AAPL) and Samsung (SSNLF) Galaxy S6. Reference Link
06:58 EDTGlobal X Funds volatility elevated as Greece near default
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06:56 EDTSHOPShopify initiated with a Sector Perform at RBC Capital
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06:56 EDTFITFitbit initiated with an Outperform at RBC Capital
Target $45.
06:55 EDTBIDUBaidu to invest roughly $3.2B in offline-to-online unit, TechCrunch reports
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06:50 EDTDLAKYFlight attendants’ union: Lufthansa strikes delayed until mid-July, Reuters says
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06:50 EDTNBGNational Bank of Greece volatility elevated as Greece near default
National Bank of Greece July weekly call option implied volatility is at 360, July is at 288, August is at 229; compared to its 52-week range of 50 to 274, suggesting large near term price movement.
06:49 EDTGIEndoChoice initiated with an Outperform at William Blair
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06:47 EDTAVOLAvolon initiated with a Neutral at Credit Suisse
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06:47 EDTCZRCaesar’s CEO Loveman: I faced ‘every imaginable human catastrophe,’ WSJ says
Caesar's CEO Gary Loveman defended his tenure with the company after its leveraged buyout in January 2012, saying that he faced “every imaginable human catastrophe” while on the job, including “floods, hurricanes, building collapses, murders,” the Wall Street Journal reports. “This job has made me numb,” Loveman said at a speech at Stanford University in 2012, the report says. Reference Link
06:47 EDTSHOPShopify initiated with an Outperform at Credit Suisse
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06:45 EDTPTXPPennTex initiated with a Buy at Deutsche Bank
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06:44 EDTBBGBill Barrett initiated with a Buy at Canaccord
Target $12.
06:44 EDTBCEIBonanza Creek initiated with a Buy at Canaccord
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06:41 EDTGIEndoChoice initiated with a Buy at Stifel
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06:41 EDTDTEADAVIDsTEA initiated with a Neutral at BofA/Merrill
Target $24.
06:41 EDTNFXNewfield Exploration initiated with a Buy at BofA/Merrill
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06:41 EDTGIEndoChoice initiated with a Buy at BofA/Merrill
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06:40 EDTDQDaqo New Energy commences pilot production in Xinjiang
Daqo New Energy announced that it has commenced pilot production of the newly added 6,000 MT polysilicon capacity at its Xinjiang site. All the construction and installation work related to the Hydrochlorination system as well as the newly added polysilicon capacity has been completed. The Company has already ceased the operation of the original Hydrogenation and switched to the new Hydrochlorination system, which is expected to largely reduce the consumption of electricity.
06:40 EDTBRSSGlobal Brass and Copper downgraded to Hold from Buy at BB&T
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06:39 EDTRLDRealD sell-off a buying opportunity, says B. Riley
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06:38 EDTEMREmerson to host investor conference call
Conference call to discuss portfolio repositioning will be held on June 30 at 9 am. Webcast Link
06:37 EDTLIVELiveDeal announces non-dilutive acquisition strategy
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06:32 EDTGEGE announces continuation of regulatory review for sale of Appliances business
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06:32 EDTGEGE agrees to offer terms for European sponsor finance sale to SMBCE
GE announced that Sumitomo Mitsui Banking Corporation Europe, a wholly owned subsidiary of Sumitomo Mitsui Banking Corporation has made an agreed offer to acquire GE’s European Sponsor Finance business for approximately $2.2B. GE Capital will retain its $1B investment in the European Senior Secured Loan Programme and European Loan Programme, both joint ventures between affiliates of GE Capital and affiliates of Ares Capital. When completed, the portfolio, which represents about $2.2B of ENI, will contribute approximately $400M of capital to the overall target of approximately $35B of dividends expected to GE under this plan. The transaction is subject to customary regulatory approval. It is expected to close in the third quarter of 2015. Bank of America Merrill Lynch and Citigroup Global Markets provided financial advice to GE and Clifford Chance provided legal advice. Since the April 10 announcement, GE has signed agreements to sell about $23B, including the European Sponsor Finance deal announced today with ENI of $2.2B. Other sales during the quarter include $1.2B of loans in our UK Home Lending portfolio, plus the previously announced $8.6B global Fleet Services business and the approximately $11B U.S. Sponsor Finance business. In addition, during the quarter, the sale of GE Capital’s Budapest Bank to the Hungarian State closed on June 29 and GE Capital Real Estate closed, in total, approximately $15B of previously announced sales.
06:30 EDTSSNLFCheil to boost dividends if Samsung C&T merger is approved, WSJ says
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06:30 EDTDTEADAVIDsTEA initiated with a Market Perform at BMO Capital
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06:26 EDTHPQHP information chief to clone computer programs to smooth transition, WSJ says
Later this week, Hewlett-Packard is expected to disclose the financial outlines of its successor companies for the first time: HP Inc., which will sell PCs and printers, and Hewlett-Packard Enterprise, a supplier of corporate technology, the Wall Street Journal reports. Scott Spradley, chief information officer at the current HP, soon will start the process of cloning 2,600 internal computer programs, separating their data and restarting them in an effort to keep operations running amid an arduous restructuring effort, the report says. Reference Link
06:24 EDTAMZNAmazon expanding Prime Now to London, TechCrunch reports
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06:20 EDTBABAAlibaba in advanced talks to invest in Paytm, Reuters reports
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06:20 EDTFX Action: USD-JPY is firmer after earlier clocking a one-month low
FX Action: USD-JPY is firmer after earlier clocking a one-month low at 121.93, now back in the vicinity of 122.40. Expectations for a solid U.S. payrolls report on Thursday should curtail the downside, though any further bouts of pronounced risk aversion in global financial markets (think Grexit) would be yen supportive, as per the usual correlation. The 50-day moving average at 121.87 has been left untroubled so far.
06:18 EDTSYYSysco downgraded to Hold from Buy at Deutsche Bank
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06:18 EDTGE, SMFG, APO, ARESSumitomo Mitsui close to deal to buy GE's European PE finance unit, WSJ reports
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06:18 EDTRDS.A, RDS.BShell may start Arctic oil exploration near Alaska in July, Reuters reports
Royal Dutch Shell may start drilling for oil in the Arctic off Alaska as early as the third week of July, when it anticipates the ice to start clearing, Reuters reports, citing a company spokesman. The Polar Pioneer drilling rig arrived in Dutch Harbor, in Unalaska, off mainland Alaska, early this past weekend and will stay there until the ice begins clearing over the area, the report says. Reference Link
06:17 EDTDQDaqo New Energy appoints Ming Yang as CFO, Shihua Su as Chief Marketing Officer
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06:15 EDTPNRTrian builds 7.24% stake in Pentair, asks firm to consider deals, WSJ reports
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06:14 EDTGENGenesis Healthcare initiated with a Neutral at UBS
Target $7.
06:13 EDTRESRPC, Inc. upgraded to Neutral from Sell at Citi
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06:11 EDTCSCOCisco, Schneider Electric partner to build resilient control system networks
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06:11 EDTEVHEvolent Health initiated with an Outperform at Leerink
Target $23.
06:10 EDTSHOSunstone Hotel upgraded to Outperform from Market Perform at Wells Fargo
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06:10 EDTPBRPetrobras implied volatility of 50 at lower end of index mean range
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06:10 EDTWECWisconsin Energy reinstated with an Equal Weight at Barclays
Target $49.
06:09 EDTCNXCONSOL implied volatility of 49 at upper end of index
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06:09 EDTSTVChina Digital appoints Jianhua Zhu as CEO
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06:08 EDTVXXiPath S&P 500 VIX Short-Term Futures at 20.31, 50-day moving average 19.63
06:08 EDTRUTRussell 2000 Index 30-day implied volatility at 19, 52-week range 13 to 24
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06:07 EDTQCOMQualcomm not planning spinoff of chips business, Reuters reports
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06:07 EDTGLDSPDR Gold Trust 30-day implied volatility at 13, 52-week range 12 to 24
06:07 EDTENSGEnsign Group acquires The Orchard Post-Acute Care Center
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06:07 EDTSLViShares Silver Trust 30-day implied volatility at 23, 52-week range 16 to 37
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06:06 EDTXLFFinancial Select Sector 30-day implied volatility at 18, 52-week range 11 to 24
06:06 EDTCNITChina Information enters strategic agreement with Guizhou Dianxian Media
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06:05 EDTNOKNokia inks four-year deal with Bharti Airtel India for 3G network rollout
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06:05 EDTEGLTEgalet announces top-line results from Category 3 HAL study of Egalet-002
Egalet announced top-line results from a Category 3 human abuse liability, or HAL, study of Egalet-002, an abuse-deterrent, extended-release, oral oxycodone product candidate in late-stage clinical development for the management of pain severe enough to require daily, around-the-clock opioid treatment and for which alternative treatments are inadequate. The study was a randomized, double-blind, active and placebo-controlled, five-way crossover study which compared the abuse potential of manipulated and intact Egalet-002 versus manipulated IR oxycodone following oral administration in 47 nondependent recreational opioid users. In addition, an exploratory sixth arm was added which compared the abuse potential of Egalet-002 to the currently marketed abuse-deterrent formulation of OxyContin, which does not have an oral abuse-deterrent claim in its label, in 28 nondependent recreational opioid users. The study was conducted with the development formulation of Egalet-002, to inform our clinical development efforts for a pivotal oral HAL study with 'to be marketed' product, consistent with the FDA Guidance.
06:04 EDTACTGAcacia Research enters into limited settlement with ZTE Corporation
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06:04 EDTMU, NTAPStocks with implied volatility below IV index mean; MU NTAP
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06:04 EDTSEACSeaChange expands role with VOO by enabling new evasion TV service
SeaChange announced that it has expanded its key role with Belgian cable company VOO by enabling advanced multiplatform personalization features of the new évasion TV service. The SeaChange Adrenalin platform in place for VOO was enhanced to introduce restart and catch-up viewing services.
06:03 EDTEVARLombard Medical announces first cases using Aorfix Plus stent graft completed
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06:03 EDTSNESony to raise nearly $4B via new shares, bonds
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06:03 EDTCVECenovus sells royalty business for $3.3B to Ontario Teachers' Pension Plan
Cenovus Energy has reached an agreement to sell Heritage Royalty Limited Partnership, a wholly-owned subsidiary, to Ontario Teachers' Pension Plan for gross cash proceeds of approximately $3.3B. HRP holds approximately 4.8M gross acres of royalty interest and mineral fee title lands in Alberta, Saskatchewan and Manitoba. In the first quarter of 2015, HRP had associated third-party royalty interest volumes of approximately 7,800 barrels of oil equivalent per day. Additional royalties have also been added to HRP – a royalty on Cenovus's working interest production with implied first quarter volumes of approximately 5,400 BOE/d, as well as a Gross Overriding Royalty on Cenovus's Pelican Lake heavy oil property in northern Alberta and its enhanced oil recovery project in Weyburn, Saskatchewan, with implied first quarter volumes of 1,600 BOE/d. The GORR represents less than 15% of HRP's cash flow. Cenovus's decision to sell HRP to Teachers' is the outcome of a rigorous marketing process that attracted significant interest. Over the past several months, the company considered several alternatives to generate value from the business, including a potential initial public offering. After a thorough review, the transaction with Teachers' was determined to be the best alternative to maximize value for Cenovus shareholders. At the end of the first quarter, the company's net debt to capitalization ratio was 27%, which significantly improves with this transaction. Cenovus's pro forma cash position at the end of the quarter would have been $5.1 billion, or $6.16 per outstanding share. As a result of the transaction, Cenovus's consolidated production, on a pro forma basis, will be reduced by the 7,800 BOE/d of third-party royalty interest volumes. Where Cenovus has current working interest production on these fee lands, the company has entered into lease agreements with HRP. Royalty rates and lease terms are attractive to Cenovus and are not expected to materially impact the free cash flow currently generated from these assets. To help preserve the future growth and development of its conventional oil and gas business, the company has also retained an option to acquire leases at pre-determined rates and lease terms for up to 10 years on more than 800,000 acres in zones of the fee lands currently being developed by Cenovus. Approximately 40 staff members of HRP will be transferred as part of the transaction.
06:03 EDTCVECenovus Energy sells royalty business for $3.3B
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06:03 EDTEVHEvolent Health initiated with a Buy at Goldman
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06:02 EDTHOTStarwood reduced energy use by 12%
Starwood Hotels & Resorts Worldwid announced it has reduced energy use by 12.08%, carbon emissions by 16.07% and water use by 17.26% across all owned, managed and franchised properties from 2008 through 2014. The reductions stem from Starwood’s 30/20 by 20 environmental goals, launched in 2009, to cut energy use by 30% and water use by 20% by 2020 globally. In 2013, Starwood added a goal to reduce carbon emissions by 30% during the same timeframe.
06:02 EDTRRCRange Resources upgraded to Outperform from Market Perform at Raymond James
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06:02 EDTYELP, XOMAStocks with implied volatility above IV index mean; YELP XOMA
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06:02 EDTLOWLowe's upgraded to Outperform from Market Perform at BMO Capital
06:01 EDTEMREmerson plans to spin off Network Power business, explore strategic actions
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06:01 EDTMLHRHerman Miller downgraded to Neutral from Buy at Longbow
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06:01 EDTCVECenovus Energy sells royalty business for $3.3B
06:01 EDTPBRPetrobras upgraded to Hold from Reduce at HSBC
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06:00 EDTSXLSunoco Logistics upgraded to Overweight from Equal Weight at Morgan Stanley
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06:00 EDTINGING Groep upgraded to Buy from Neutral at BofA/Merrill
06:00 EDTOn The Fly: Morning Wrap-Up for June 30
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06:00 EDTBCRXBioCryst upgraded to Buy from Neutral at BofA/Merrill
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05:59 EDTIT, ORCL, HPQ, INTC, MSFT, SAP, IBM, AAPLGartner: Worldwide IT spending on pace to decline 5.5% in 2015
Worldwide IT spending is on pace to total $3.5T in 2015, a 5.5% decline from 2014, according to the latest forecast by Gartner, Inc. Analysts attribute the decline to the rising U.S. dollar. In constant-currency terms, the market is projected to grow 2.5%. In Gartner's previous forecast in April, it had forecast IT spending to decline 1.3% in U.S. dollars and grow 3.1% in constant currency. "We want to stress that this is not a market crash. Such are the illusions that large swings in the value of the U.S. dollar versus other currencies can create," said John-David Lovelock, research vice president at Gartner. "However, there are secondary effects to the rising U.S. dollar. Vendors do have to raise prices to protect costs and margins of their products, and enterprises and consumers will have to make new purchase decisions in light of the new prices." Communications services will continue to be the largest IT spending segment in 2015 with spending at nearly $1.5T. However, this segment is also experiencing the strongest decline among the five IT sectors. In the device market, mobile phones continue to be the leading segment, with growth in Apple phones, especially in China, keeping overall phone spending consistent. However, overall smartphone unit growth will start to flatten. The PC and tablet market continues to weaken. The expected 10 percent increase in average PC pricing in currency-impacted countries is going ahead, delaying purchases even more than expected. Excessive PC inventory levels, especially in Western Europe, need to be cleared, which will delay Windows 10 inventory in the second half of the year. Within the data center systems segment, storage and network markets are both expected to see weaker growth in U.S. dollar terms as a result of the appreciation of the U.S. dollar. Reference Link
05:58 EDTINTCIntel 28nm SoFIA 4G AP delayed to early 2016, DigiTimes reports
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05:58 EDTSNESony Mobile and Huawei look to expand mobile device sales, DigiTimes reports
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05:56 EDTBKFSBlack Knight Financial initiated with a Neutral at Mizuho
Target $30.
05:56 EDTJuly front month equity options last day to trade is July 17, 2015
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05:55 EDTVXXStocks with implied volatility movement; VXX VIX
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05:52 EDTAGO, MBIStocks with implied volatility movement; MBI AGO
Stocks with implied volatility movement; Assured Guaranty (AGO) 73, MBIA (MBI) 94 according to iVolatility.
05:40 EDTPTNRPartner Communications announces new framework agreement with Orange
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05:38 EDTERIC, CHTEricsson announces LTE expansion contract with Chunghwa Telecom
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05:37 EDTBXBlackstone to sell AlliedBarton to Wendel SE for $1.67B
Blackstone announced that private equity funds it manages have agreed to sell AlliedBarton to Wendel SE for approximately $1.67B. The transaction is expected to close later this year, and is subject to customary regulatory approvals.
05:37 EDTMVIRMultiVir announces new discovery project for cancer indication
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05:37 EDTBXBlackstone to sell AlliedBarton to Wendel SE for $1.67B
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05:36 EDTDBVTDBV Technologies completes Part A of MILES study
DBV Technologies announced the completion of Phase I or Part A, of the Viaskin Milk Efficacy and Safety Phase I/II study, or MILES. The Data Safety Monitoring Board, or DSMB, for the study recommended that the study continue and expressed no safety concerns after evaluating the Part A safety data of subjects treated with a 150 micrograms, 300 micrograms and 500 micrograms doses of Viaskin Milk. The MILES study is a two part, multi-center, double-blind, placebo-controlled, randomized clinical trial designed to evaluate the safety and efficacy of Viaskin Milk in IgE-mediated cow's milk protein allergic, or CMPA, patients ranging from two to 17 years of age. Part A evaluated the safety of three escalating doses of Viaskin Milk versus placebo over three weeks in 18 patients. Pending review of the Part A data by the FDA, and U.S. and Canadian approvals of the revised protocol, the company intends to initiate Part B of the trial in the second half of 2015.
05:35 EDTMTLMechel certified rails to be supplied to Russian railways
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05:34 EDTCMCMCheetah Mobile and Tencent deepen existing strategic cooperation
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05:33 EDTAER, EADSYAerCap adds first Airbus A350XWB to aircraft fleet
AerCap (AER) took delivery of its first Airbus (EADSY) A350 XWB during a ceremony at the Airbus Delivery Centre in Toulouse. AerCap immediately handed the aircraft over to Vietnam Airlines on a long-term lease, making the airline the world's second operator of the A350 XWB.
05:33 EDTAMZNAmazon Web Services to open infrastructure region in India
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05:32 EDTCEOCNOOC Bozhong 28/34 oilfields comprehensive project commences production
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05:32 EDTNVS, AAPL, GOOGNovartis launches first Apple Watch app for visually impaired people
Novartis Pharmaceuticals (NVS) announced the release of new features for its ViaOpta applications, and the extension for use with smart watches. The discreet, hands-free nature of using ViaOpta app with wearable devices, such as Apple Watch (AAPL) and Android Wear (GOOG), provides users with an experience that seamlessly fits into their existing routines allowing those with visual impairments to navigate daily life with even greater ease.
05:30 EDTRHHBYGenentech reports ocrelizumab Phase III studies met primary, secondary endpoints
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05:25 EDTTKPPYTechnip awarded topsides detailed engineering, procurement services contract
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05:23 EDTPGHPengrowth Energy announces commissioning of Lindbergh, sale of non-core assets
Pengrowth reports that construction and commissioning of its insulated sales line connecting the Lindbergh commercial facilities with the Husky pipeline, has been completed on time. Production from the commercial facilities has now been tied-in to the sales line, providing Pengrowth with additional transportation/marketing optionality. Pengrowth still retains the option to move production by rail to markets in an effort to maximize revenues and netbacks. Growth in production from the Lindbergh thermal project continues to meet expectations and closely follows the performance that was established by the pilot wells over the initial months of production. Current production from the project is approximately 14,400 barrels per day with an instantaneous steam oil ratio of 1.99x. Production ramp-up at Lindbergh remains on track to achieve production rates of 16,000 bbl/d by the end of the year. As part of its emphasis on strengthening its balance sheet, the company intends to sell up to $600M of non-core assets by the end of the year. The proceeds from the expected dispositions will be used to reduce corporate indebtedness under the company's credit facilities.
05:19 EDTWSH, TWWillis Group holder ValueAct Capital agrees to vote its shares in favor of deal
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05:18 EDTTW, WSHTowers Watson holders will receive 2.65 shares of Willis per share of TW
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05:15 EDTWSH, TWTowers Watson CEO McCann to be CEO of new company Willis CEO to be Deputy CEO
Upon closing of the transaction, James McCann will become chairman, John Haley, chairman and CEO of Towers Watson (TW), will be CEO and Dominic Casserley, CEO of Williw Group (WSH), will be president and Deputy CEO. The new company’s board will consist of 12 directors total – six nominated by Willis and six by Towers Watson, including Towers Watson’s and Willis’ current CEOs. Additionally, Roger Millay will be CFO.
05:11 EDTWSH, TWWillis Group, Towers Watson to merge in transaction valued at $18B
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05:08 EDTWSH, TWWillis Group, Towers Watson to merge in transaction valued at $18B
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02:45 EDTFX Update: The main currencies have been relatively subdued
FX Update: The main currencies have been relatively subdued so far today after yesterday's sharp volatility. Focus remains on the South West corner of the Eurozone, with the Greece's repayment to the IMF, due by 22 GMT, not likely to be made (Germany's Schaeuble reportedly confirmed that Athens has announced this). S&P lowered the country's credit rating to CCC in anticipation of this. This will rule out future IMF payments, which effectively voids the latest creditor offer, and means that Sunday's referendum will no longer be about accepting the deal, but as EU's Juncker stressed, Greece's future in the Eurozone. French finance minister, Sapin, said that Grexit would not cause turmoil in the rest of Europe. EUR-USD has seen a 1.1175-1.1241 range so far today, remaining within the upper portion of yesterday's range. USD-JPY posted a 122.19-73 range, holding with the lower part of the range seen yesterday. GBP was unaffected by a much stronger than expected outcome in the June Gfk consumer confidence figure, which came in at +7 from +1, a new cycle high and well up on the median forecast for +2. AUD-USD also saw little movement, holding in the upper 0.76s.
04:55 EDTADSKAutodesk management to meet with UBS
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04:55 EDTFederal Reserve Bank of St. Louis to hold a forum
Global Economic Forum is being held in St. Louis, MO on June 29-30.
08:25 EDTVTNRVertex Energy to host business news update conference call
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04:55 EDTConstruction Financial Management Association holds a conference
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04:55 EDTConsumer Confidence to be reported at 10:00
June Consumer Confidence will be reported at 10:00 . Current consensus is 97.4
09:30 EDTChicago PMI Business Barometer Index to be reported at 09:45
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14:55 EDTMYRG, MOH, MYRG, MOHMYR Group to replace Molina Healthcare in S&P 600 as of 6/30 close
05:55 EDTMOH, JBHT, MOH, JBHTMolina Healthcare to replace J.B. Hunt in S&P 400 as of 6/30 close
05:55 EDTJBHT, TEG, JBHT, TEGJ.B. Hunt to replace Integrys Energy in S&P 500 as of 6/30 close
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04:55 EDTENH, MRH, ENH, MRHMontpelier Re to host special shareholder meeting
Special Shareholder Meeting to vote upon a proposal to approve the previously announced merger with Endurance Specialty Holdings (ENH) will be held in Pembroke, Bermuda on June 30 at 9:30 am.
09:25 EDTMRH, ENH, MRH, ENHEndurance Specialty to host special shareholder meeting
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04:55 EDTGAIN, GAINGladstone Investment to hold a conference call
Management discusses the matters scheduled for a vote at the company's August 6th Shareholder Meeting on a conference call to be held on June 30 at 9 am. Webcast Link
04:55 EDTWNSWNS Holdings management to meet with Needham
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04:55 EDTRLGTRadiant Logistics management to meet with Lake Street
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04:55 EDTNGHCNational General management to meet with JMP Securities
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04:55 EDTCLIMack-Cali Realty management to meet with Evercore ISI
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11:45 EDTARE, AREAlexandria Real Estate management to meet with Evercore ISI
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04:55 EDTVWRVWR management to meet with William Blair
Meeting to be held in Atlanta on June 30 hosted by William Blair.
04:55 EDTVEEVVeeva management to meet with William Blair
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04:55 EDTTIVOTiVo management to meet with Jefferies
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04:55 EDTINTUIntuit management to meet with Jefferies
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04:55 EDTANSSANSYS management to meet with William Blair
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04:55 EDTACREAres Commercial management to meet with FBR Capital
Meetings to be held in San Francisco June 29-30 hosted by FBR Capital.
04:55 EDTEPZMEpizyme management to meet with Leerink
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04:55 EDTRDYDr. Reddy's Labs management to meet with JPMorgan
Meeting to be held in New York on June 30 hosted by JPMorgan.
04:55 EDTCARAvis Budget management to meet with JPMorgan
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04:55 EDTMTX, MTXMinerals Technologies to host analyst day
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04:55 EDTHCLPHi-Crush Partners management to meet with Jefferies
Meetings to be held in Dallas/Kansas City on June 30-July 1 hosted by Jefferies.
04:55 EDTEEEl Paso Electric management to meet with Jefferies
Meetings to be held in Baltimore/New York/Philadelphia on June 30-July 1 hosted by Jefferies.
04:55 EDTIMPRImprivata management to meet with Leerink
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05:55 EDTHSC, FXCM, HSC, FXCMHarsco to replace FXCM in S&P 600 as of 6/30 close
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14:55 EDTENR, HSC, ENR, HSC"new" Energizer to replace Harsco in S&P 400 as of 6/30 close
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14:55 EDTSMTC, PGN, SMTC, PGNSemtech to replace Paragon Offshore in S&P 600 as of 6/30 close
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05:55 EDTCC, SMTC, CC, SMTCChemours to replace Semtech in S&P 400 as of 6/30 close
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14:55 EDTCABO, BTU, CABO, BTUCable ONE Inc. to replace Peabody in S&P 400 as of 6/30 close
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14:55 EDTBLD, ARO, BLD, AROTopBuild to replace Aeropostale in S&P 600 as of 6/30 close
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04:55 EDTNUVANuVasive management to meet with Jefferies
Meetings to be held in Europe June 25-30 hosted by Jefferies.
04:55 EDTMPWRMonolithic Power management to meet with Oppenheimer
Meeting to be held in New York on June 30 hosted by Oppenheimer.
04:55 EDTAJRDAerojet Rocketdyne management to meet with Oppenheimer
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04:55 EDTNVTAInvitae management to meet with Leerink
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04:55 EDTHQYHealthEquity management to meet with Leerink
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04:55 EDTZFGNZafgen management to meet with Leerink
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05:55 EDTMDXG, SKX, MDXG, SKXMiMedx to replace Skechers in S&P 600 as of 6/30 close
05:55 EDTSKX, RKT, SKX, RKTSkechers to replace RockTenn in S&P 400 as of 6/30 close
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14:55 EDTITRI, ACI, ITRI, ACIItron to replace Arch Coal in S&P 600 as of 6/30 close
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05:55 EDTQEP, ITRI, QEP, ITRIQEP Resources to replace Itron in S&P 400 as of 6/30 close
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14:55 EDTPCLN, BAX, PCLN, BAXPriceline to replace Baxter in S&P 100 as of 6/30 close
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05:55 EDTBXLT, QEP, BXLT, QEPBaxalta to replace QEP Resources in S&P 500 as of 6/30 close
04:55 EDT St Louis Federal Reserve Bank President James Bullard Speech to be released at 00:00
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04:55 EDT 4-Week Bill Auction to be released at 11:30
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08:40 EDTWeek of 6/27 Redbook to be released at 08:55
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