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15:13 EDTABGB, ABYAbengoa awarded 950 GWh per year in 15 year Chilean supply tender
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15:12 EDTSLXPSalix stake taken by Paulson & Co., some holders urging sale, Reuters says
15:07 EDTAMZNAmazon Prime Now points to widening fulfillment moat, says Piper Jaffray
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15:05 EDTTreasury Closing Summary:
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15:01 EDTAJGArthur J. Gallagher acquires Affinity Marketing Group
Arthur J. Gallagher & Co. announced the acquisition of Affinity Marketing Group in Natick, Massachusetts. Terms of the transaction were not disclosed. Established in 2001, Affinity Marketing Group is a national program broker that provides access to products and services designed for members of affinity groups, associations and fraternal organizations throughout the United States.
14:59 EDTCECelanese upgraded to Buy from Neutral at Gilford Securities
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14:59 EDTBAAir France-KLM CEO says may postpone Boeing 777 deliveries, Bloomberg reports
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14:56 EDTPSXMeritage Midstream announces January startup of NGL Pipeline
Meritage Midstream Services II announced that operations on the first 108-mile leg of the Thunder Creek NGL Pipeline will begin in January 2015. The FERC-regulated pipeline will be owned and operated by Thunder Creek NGL Pipeline, LLC, a wholly owned subsidiary of Meritage. The 108-mile pipeline serves producers in Wyoming’s prolific Powder River Basin and consists of 22 miles of newly constructed pipeline and an additional 86 miles secured through a long-term lease from Phillips 66 (PSX). The pipeline has an initial capacity to transport 15,000 barrels per day (bbls/d). Meritage expects to expand the pipeline’s capacity to 30,000 bbls/d as shipper demand increases. The pipeline originates at the 50 Buttes Natural Gas Processing Complex near Gillette, Wyoming, and terminates at an interconnect with Phillips 66’s Powder River Pipeline near Douglas, Wyoming. The Phillips 66 Powder River Pipeline delivers natural gas liquids to Phillips 66’s fractionation and refining complex near Borger, Texas. The 50 Buttes Plant is owned by Thunder Creek Gas Services, L.L.C., also a wholly owned subsidiary of Meritage. Meritage also announced that it will begin construction of a 140-mile extension of the NGL pipeline in early 2015. The 140-mile extension will include an interconnect near Cheyenne, Wyoming, into the Overland Pass Pipeline Company’s 760-mile pipeline that provides NGL deliveries to the Mid-Continent market center in Conway, Kansas. This extension is expected to come into service during the first quarter of 2016.
14:53 EDTKMXCarmax December 60 straddle priced for 7.3% movement into Q3
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14:48 EDTCIVICivitas Solutions sees FY15 revenue $1.345B-$1.385B, consensus $1.4B
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14:42 EDTPRFTPerficient reaches definitive agreement to acquire Zeon Solutions
Perficient announced it has entered into a purchase agreement to acquire the assets of Zeon Solutions Incorporated and its subsidiary, Grand River Interactive, and an Indian affiliate, a $23M annual services revenue business and IT consulting firm specializing in the development, implementation, integration and support of e-commerce solutions. Perficient’s current annualized revenues are now approaching $500M, and the acquisition is expected to be accretive to adjusted earnings per share. The parties are targeting a closing in early January 2015, subject to customary closing conditions. Total consideration to be paid at closing will be approximately $35.7M, consisting of approximately $22.3M in cash and approximately $13.4M in Perficient common stock. The purchase price is subject to a net working capital adjustment and earnings-based contingent consideration of up to approximately $2.8M, payable in cash and Perficient common stock.
14:40 EDTCanada CPI Preview
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14:39 EDTAMZN, EBAY, OSTK, WMT, TGT, BBY, BBBY, COSTBacker of Internet sales tax to get powerful Senate post
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14:39 EDTOSTKOverstock.com files $200M mixed securities shelf
14:33 EDTHRSHarris awarded $50M communication system order from Middle East nation
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14:32 EDTCLHClean Harbors: Safety-Kleen business revises pay-for-oil structure
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14:30 EDTTreasury Action: Treasury yields are holding at or near the highs of the day
Treasury Action: Treasury yields are holding at or near the highs of the day as stocks continue to roar higher. The bearish close in core European sovereign markets is also weighing. However, the updraft in the 10-year is meeting some resistance at 2.20%, with the bond being stymied by the 2.82% area. There wasn't much reaction to the TIPS auction which garnered a record indirect bid. Yields are expected to remain elevated near term, however, as the market continues to look to the start of rate lift-off around mid 2015. Additionally, there's $91 B in coupon supply in the upcoming Christmas shortened holiday week. However, the still wide spreads to Europe and the ongoing demand for yield from foreign accounts remains supportive and should temper the bearish tone. Also, month-end and year-end is coming into focus and that could prompt short covering. The Barclays' Treasury index is forecast to extend out 0.09 years, which should also underpin.
14:29 EDTBBRYBlackBerry December 10 straddle priced for 7.9% movement into Q3
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14:28 EDTGSGoldman Sachs promotes Waldron to co-head of investment-banking, WSJ reports
Goldman Sachs promoted John Waldron to replace John Weinberg as co-head of investment-banking, reported The Wall Street Journal. Weinberg will remain one of the firm's three vice chairmen and transition to a new client-development role, the report noted. Reference Link
14:23 EDTMarket in midst of powerful two day advance
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14:19 EDTAMZN, AAPLMacmillan CEO says new deal struck with Amazon
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14:16 EDT$NYENYSE market internals summary
Volume is extremely heavy for this time of day. Breadth is bullish across the board. Advancing Issues: 3523 / Declining Issues: 950 -- for a ratio of 3.7 to 1. Advancing Volume: 3,055,599,000 / Declining Volume: 737,143,000 -- for a ratio of 4.1 to 1. New 52-Week Highs: 211 / New 52-Week Lows: 57.
14:16 EDT$NSDNASDAQ market internals summary
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14:15 EDTGROWU.S. Global Investors continues stock repurchase program
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14:01 EDTAMZNAmazon.com Prime Now positive, says Wells Fargo
After Amazon launched its under one hour delivery service called Prime Now, Wells Fargo thinks the service will strengthen the attachment to Prime of consumers in urban markets. The firm thinks Prime Now is compelling compared with competing services. It keeps an Outperform rating on Amazon.
14:01 EDTRHTRed Hat December 60 straddle priced for 6.2% movement into Q3
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14:00 EDTBBRY, GOOG, SSNLF, CRMEarnings Preview: BlackBerry upped at BGC, Goldman says short squeeze possible
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13:50 EDTU.S. equities continue to leg it higher
U.S. equities continue to leg it higher with very little claw back (at the risk of inviting a slump into the close), with NASDAQ comp over 1.9% higher and the blue chips in hot pursuit. Today's data wasn't particularly impressive, so it's not the fundamentals. Crude oil's recovery to the $59-60 bbl zone was roundly rejected and it has since retreated below $56 bbl, so it's not that global growth proxy. Following Putin's forceful 3-hour press conference, Russian stocks are 4-7% firmer and the ruble rallied to 57.97 vs 79.91 lows on Tuesday vs the dollar, before backing off to 61.30. Perhaps. Yet, Jim O'Neill formerly of Goldman also agreed in a CNBC interview that the Fed has pulled off quite a "trick" by actually moving a step closer to tightening and somehow pacifying the markets. That sounds more like it - more smoke and mirrors and the vague promise of more global stimulus ex-Fed, such as the last resort NIRP undertaken by the SNB. Meanwhile yields are higher and that is helping to continue to prop up the dollar.
13:49 EDTARCPFormer American Realty Chair said to call for manipulation of results, WSJ says
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13:48 EDTZ, TRLAZillow, Trulia shareholders approve planned merger
Zillow (Z) and Trulia (TRLA) announced that Zillow shareholders and Trulia stockholders voted resoundingly to approve the previously announced definitive agreement, dated as of July 28, pursuant to which Zillow will acquire Trulia. At special meetings held earlier, approximately 88.75% of Zillow votes outstanding and entitled to be voted, and 79.52% of Trulia votes outstanding and entitled to be voted, were voted in favor of the agreement. Zillow shareholders and Trulia stockholders also voted to approve the authorization of nonvoting Class C capital stock in the combined company's amended and restated articles of incorporation. The companies anticipate that the transaction will be completed in the first half of 2015.
13:44 EDTARCPFormer American Realty Chair said to call for manipulation of results, WSJ says
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13:32 EDTNKENike December 95 straddle priced for 4.4% movement into Q2
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13:32 EDTTIMETime Inc., IFTTT announce partnership
IFTTT, a free service that lets consumers create simple connections between the products, services and apps they use every day, and Time Inc. are partnering to unlock new ways for audiences to consume and share popular Time Inc. digital content. Today, five of Time Inc.’s most popular titles launched Channels on IFTTT: Entertainment Weekly, InStyle, PEOPLE, Sports Illustrated, and TIME. Powered by Time Inc.’s internally developed OneBot social trending tool, consumers are able to receive links to trending Time Inc. stories through customized notifications that can be delivered in myriad ways.
13:31 EDTHON, DOVHoneywell to acquire Datamax-O'Neil for $185M
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13:22 EDTAPGabelli raises stake in Ampco-Pittsburgh to 20.82% from 19.44%
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13:21 EDTLCILannett receives FDA approval for Dorzolamide HCL with Timolol
Lannett announced that it has received approval from the U.S. FDA of its Abbreviated New Drug Application for Dorzolamide Hydrochloride and Timolol Maleate Ophthalmic Solution, 2%/0.5%, the therapeutic equivalent to the reference listed drug, Cosopt Ophthalmic Solution, 2%/0.5%, of Oak Pharmaceuticals, Inc.. According to IMS, for the year ended October 2014 total sales of Dorzolamide Hydrochloride and Timolol Maleate Ophthalmic Solution, 2%/0.5%, at Average Wholesale Price were approximately $123M.
13:16 EDTCVSCVS Health price target raised to $105 from $95 at Argus
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13:16 EDT$NYENYSE market internals summary
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13:16 EDT$NSDNASDAQ market internals summary
Volume is extremely heavy for this time of day. Breadth is bullish across the board. Advancing Issues: 1970 / Declining Issues: 721 -- for a ratio of 2.7 to 1. Advancing Volume: 873,685,000 / Declining Volume: 250,344,000 -- for a ratio of 3.5 to 1. New 52-Week Highs: 114 / New 52-Week Lows: 33.
13:15 EDTTreasury's $16 B 5-year TIPS reopening was well received
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12:59 EDTBASFY, OGZPYBASF says asset swap with Gazprom will not be completed
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12:58 EDTACHNAchillion December weekly volatility elevated at 290
Achillion December call option implied volatility is at 205, December weekly at 290, January is at 263; compared to its 26-week average of 156 according to Track Data, suggesting large price movement.
12:55 EDTTEVA, PFECourt delays Teva's launch of generic Celebrex, Globes reports
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12:55 EDTFX Action: USD-JPY's pop over 119.31 earlier
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12:55 EDTEuro$ interest rate options: another flurry of activity
Euro$ interest rate options: another flurry of activity included some heavier put structures such as a bearish purchase of 15k in September 87/90 put spreads. There was a 10k purchase of Red June vs sale of Short June 85 put spreads, a bullish purchase of 8k in Green March 78/80 call spreads and a liquidation of 2.5k in Short January 85/87 put 1x2s. March 2015s are flat at 99.7050, with the deferreds as much as 12-ticks lower out the back as the Fed trajectory is reassessed in the wake of yesterday's convoluted statement.
12:54 EDTALE, NRGALLETE subsidiary acquires Storm Lake 1 from NRG Energy for $15M
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12:50 EDTBABoeing, BOC Aviation finalize order for two additional 737-800s
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12:50 EDTABXBarrick Gold downgraded to Sell from Hold at Canaccord
12:50 EDTFed Chair Yellen said one of the FOMC's goals has been to "communicate"
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12:47 EDTOFLXU.S. District Court dismisses frivolous lawsuit against Omega Flex
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12:46 EDTRHHBYRoche acquires privately held Dutalys for $133.75M up front
Roche announced that it has agreed to acquire Dutalys GmbH, a privately held biotechnology company based in Vienna, Austria. Dutalys specializes in the discovery and development of fully human, bi-specific antibodies based on their proprietary DutaMab technology, Roche said. Under the terms of the agreement, Roche will make an upfront cash payment of $133.75M to shareholders and make additional contingent payments of up to $355M based on the achievement of certain predetermined milestones.
12:46 EDTTEVATeva in legal dispute with former Russian partner, Globes reports
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12:45 EDTERIIEnergy Recovery awarded contract for new mega desalination plant in UAE
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12:42 EDTGRIFGriffen announces lease signing
Griffin Land & Nurseries announced that its real estate business, Griffin Land, signed a five-year lease for approximately 196,000 square feet of its approximately 280,000 square foot warehouse facility currently under construction in the Lehigh Valley of Pennsylvania. This new warehouse facility is being developed on an approximately 50 acre parcel of undeveloped land that was acquired in 2012. Griffin Land expects construction of this building will be completed and commencement of this new lease will take place in mid 2015. The tenant has an option, exercisable during the first six months of the lease term, to lease the entire building. Griffin Land also has approvals for the development of an additional building of approximately 250,000 square feet on this land parcel. This development will be known as Lehigh Valley Tradeport II.
12:40 EDTTreasury 5-year TIPS preview:
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12:39 EDTISCOInternational Stem Cell wins EU patent ruling
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12:37 EDTLPIBalyasny Asset reports 5.31% passive stake in Laredo Petroleum
12:31 EDTAMRIPermian Investment Partners reports 5.5% passive stake in AMRI
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12:26 EDTORCL, CAG, TTPH, OVAS, SIMG, WOROn The Fly: Midday Wrap
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12:25 EDTBBRYBlackBerry December volatility increases into Q3 and outlook
Blackberry December call option implied volatility is at 143, January is at 72, March is at 58; compared to its 26-week average of 56 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on December 19.
12:17 EDTBAYRY, CAHBayer, Cardinal Health sign contract manufacturing agreement for Xofigo
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12:16 EDT$NYENYSE market internals summary
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12:16 EDT$NSDNASDAQ market internals summary
Volume is lighter for this time of day. Breadth is bullish across the board. Advancing Issues: 1862 / Declining Issues: 789 -- for a ratio of 2.4 to 1. Advancing Volume: 707,994,000 / Declining Volume: 176,987,000 -- for a ratio of 4.0 to 1. New 52-Week Highs: 104 / New 52-Week Lows: 30.
12:11 EDTTBKTriumph Bancorp upgraded to Buy from Hold at Sandler O'Neill (pre-open)
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12:06 EDTHCA, LPNT, THC, CYH, UHSObamacare concerns seen creating good entry point for hospital stocks
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12:03 EDTDEDeere to sell crop insurance business to Farmers Mutual Hail Insurance Company
Deere & Company announced it has reached a definitive agreement to sell its crop insurance business, subject to regulatory approval, to Farmers Mutual Hail Insurance Company of Iowa , headquartered in West Des Moines, Iowa. The action is a result of Deere's previously announced review of strategic options for the crop insurance business. The agreement will result in Deere selling both John Deere Insurance Company and John Deere Risk Protection, Inc., which together made up the crop insurance business unit of John Deere Financial. Closing is expected in the first quarter of the 2015 calendar year.
12:00 EDTWOR, ATI, CRSWorthington falls to year low after Q2 results miss profit estimates
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11:56 EDTTRAKDealerTrack acquisition should be positive for shares, says JPMorgan
JPMorgan believes DealerTrack's acquisition of Incadea PLC will be a positive for the company's growth profile and potential addressable market over a five-year timeframe. The firm expects the company's second "transformational" acquisition in as many years to be positive the stock and reiterates an Overweight rating on DealerTrack.
11:55 EDTSAFMSanderson Farms says would consider special dividend
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11:49 EDTORCL, CRM, SAP, MSFTOracle soars to 52-week high after Q2 results beat estimates
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11:49 EDTNEWTNewtek Business Services says no direct lending exposure to oil, gas industry
Newtek Business Services announced that it does not believe that it has any direct lending exposure to the oil and gas industry in its current loan portfolio resulting from falling fuel prices. Companies that deliver oil to residential and commercial businesses and retail gas stations with convenience stores constitute 0.39% and 3.11%, respectively, of the company's current loan portfolio.
11:34 EDTMSFTMicrosoft to sell MixRadio service to LINE, terms not disclosed
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11:33 EDTGM, EWZStocks with call strike movement; GM EWZ
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11:31 EDTCATCaterpillar sales trends suggest 'muted' 2015 outlook, says Wells Fargo
Wells Fargo says Caterpillar's November retail sales trends were weak with growth trends decelerating from October in all segments. Wells believes weakening demand trends suggest Caterpillar may provide "a muted" outlook for 2015, and the firm stays below consensus with its 2015 expectations. Wells has a Market Perform rating on Caterpillar.
11:31 EDTAMZNAmazon.com continues downtrend, levels to watch
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11:28 EDTFMDFirst Marblehead jumps 157% after IRS reverses course on adjustments
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11:26 EDTSAFMSanderson Farms sees chicken production up 2.5%-3.5% in FY15
Expects to process 3.351B pounds of dressed chicken during FY15. Sees chicken production up 2.5%-3.5% in FY15. Sees FY15 CapEx on construction and maintenance of $116.1M. Sees ample supplies for corn, beans. Says "optimistic" about long-term, says balance sheet "strong." Comments made on the Q4 earnings conference call. Sanderson Farms shares are down 4.27% in late morning trading to $83.68.
11:25 EDTTWTR, GDXStocks with call strike movement; TWTR GDX
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11:25 EDTFormer Fed Chairman Bernanke opined on monetary policy
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11:19 EDTFMDFirst Marblehead announces IRS withdrawing proposed adjustments
First Marblehead announced that the Internal Revenue Service has informed the company that it is no longer challenging the federal tax refunds the company previously received in the amounts of $176.6M and $45.1M. As the company has previously disclosed, the IRS had issued Notices of Proposed Adjustment, or NOPAs, in September 2013 that proposed to disallow the loss that resulted in the tax refunds, as well as require the company to include income from the trust certificate of NC Residuals Owners Trust from the March 31, 2009 sale date through June 30, 2011 in its taxable income for such years. The company expects to receive formal written confirmation of the IRS's decision not to make these adjustments during 3Q15. As for all refunds in excess of $2M, the IRS's decision is subject to the review of the Congressional Joint Committee on Taxation, First Marblehead noted.
11:16 EDT$NYENYSE market internals summary
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11:16 EDT$NSDNASDAQ market internals summary
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11:15 EDTFX Action: USD-CAD remains over 1.1600
FX Action: USD-CAD remains over 1.1600 after topping out near 1.1630. The pairing has found support on the back of softer oil prices through the morning, though talk of standing offers in place from 1.1650 to 1.1700 are expected to cap gains going forward. Rumors of Repsol/Talisman backed selling interest remains in the market today.
11:14 EDTPAYXPaychex December volatility increases into Q2 and outlook
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11:13 EDTNKEEarnings Preview: Nike sees Q2 EPS to grow at high-teens rate
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11:08 EDTCZR, HLF, YPF, ARCP, MGM, A, MCDOptions with increasing implied volatility
Options with increasing implied volatility: CZR RSX HLF YPF ARCP MGM A MCD
11:05 EDTOil Action: NYMEX crude is well off its intra day high
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11:04 EDTTLM, VXX, PAY, RAD, ADBE, JBL, ORCLOptions with decreasing implied volatility
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11:03 EDTBABoeing reports 43 new orders in weekly update
Boeing reported 43 new orders since its last update, including 30 737s, six 777s, five 737s and two 737s.
11:01 EDTLPTLiberty Property sells four Orlando office properties for $116.75M
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10:59 EDTNNN, O, PTRYNational Retail, Realty Income may benefit from Pantry deal, says Wells Fargo
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10:59 EDTFMDFirst Marblehead trading halted, pending news
10:58 EDTTTPH, MRK, CBSTTetraphase seen as takeover target after antibiotic trial success
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10:55 EDTToday's U.S. reports
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10:51 EDTHOT, IHGStarwood has $100M claim against Cuba, says Wells Fargo
Wells Fargo notes the Foreign Claim Settlement Commission certified in 2005 a claim for Starwood (HOT) against Cuba in the amount of $51.1M plus interest, implying a market value today of over $100M. Starwood has 500-plus acres of land around Havana that was seized in 2003. InterContinental (IHG) holds a certified $2.6M claim from 1959-1961, which equates to about $60M today, Wells adds. The firm does not expect the claims will be collected, but notes that if the embargo on Cuba is one day lifted, it's possible they could be traded for concessions or development entitlements.
10:49 EDTNQNQ Mobile up 9% in early trading ahead of earnings report tonight
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10:45 EDTEuro$ interest rate options: lively block and pit trade
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10:41 EDTBAIRY, ICAGYIAG says Aer Lingus board rejected takeover proposal
International Consolidated Airlines Group (ICAGY) confirms that it submitted a proposal to make an offer for Aer Lingus, which has been rejected by the board of the company. IAG added, "There can be no certainty that any further proposal or offer will be forthcoming." IAG is the parent of British Airways (BAIRY). The Financial Times earlier today reported that IAG was considering a bid for Aer Lingus.
10:41 EDTQSR, ROC, PIR, TOL, NYNY, OCR, MMLP, RAD, CSU, MYLHigh option volume stocks
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10:38 EDTNQNQ Mobile volatility increases into reporting Q1, Q2, Q3
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10:30 EDTEIA natural gas storage change for week ending December 12
Gas inventories 64 Bcf draw vs. consensus of 60 Bcf draw.
10:25 EDTBLCMBellicum Pharmaceuticals opens at $24.56, IPO priced at $19
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10:25 EDTThe Philly Fed drop to 24.5 in December
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10:24 EDTORCLOracle hits fresh 52-week high after results, levels to watch
The shares were last at $44.85, up over 8.9%. At that price resistance is at the 52-week high set this morning at $44.98 and then at $46.46, the lifetime high from 2000. Support is at $43.81.
10:24 EDTBLCMBellicum Pharmaceuticals IPO indicated to open at $24
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10:21 EDTTGENTecogen announces sale of Tecogen CM-75 Cogeneration unit
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10:19 EDTCHKP, FEYE, PANW, FTNT, SNE, IMAX, RLDSony hack fallout highlights value of IT security spending, analyst says
The hacking of Sony's (SNE) Sony Pictures unit shows that spending more on IT security is worthwhile for companies, Wells Fargo analyst Gray Powell wrote in a note to investors today. WHAT'S NEW: Sony has decided not release the film "The Interview" as planned on December 25, due several theater chains' plans to not show the movie amid threats, CNBC reported. The New York Times said American intelligence officials have determined that the North Korean government was “centrally involved” in the cyber attacks on Sony Pictures. Sony's experience shows that being hacked is much more costly than spending on IT security, Powell stated. After being hacked, Sony has had to cancel the release of its film "The Interview," which it spent $ 42M to make, and it will have to spend more money on fixing the security breach and defending itself against lawsuits triggered by the incident, the analyst stated. Additionally, the company's brand has been damaged, Powell believes. By contrast, Sony spends just $20M per year on IT security, the analyst roughly estimated. Incidents like the hacking of Sony will cause companies to spend a higher percentage of their budgets on IT security next year, according to Powell. He kept Outperform ratings on IT security companies Check Point (CHKP), FireEye (FEYE), Fortinet (FTNT), Palo Alto (PANW), and Proofpoint (PFPT). WHAT'S NOTABLE: Analysts at B. Riley said IMAX (IMAX) and RealD (RLD) could benefit from Sony's cancellation of "The Interview" due to the demand shift towards their respective film slates. The analyst believes both IMAX and RealD could generate an incremental 1c in EPS during the period. PRICE ACTION: In early trading, FireEye jumped 5% to $30, Palo Alto advanced 3.2% to $123.87, Proofpoint gained 2% to $47.87 and Check Point climbed 1.4% to $78.16.
10:17 EDTFLWS1-800-Flowers.com management to meet with Benchmark Co
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10:16 EDT$NYENYSE market internals summary
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10:16 EDT$NSDNASDAQ market internals summary
Volume is very light for this time of day. Breadth is bullish across the board. Advancing Issues: 1921 / Declining Issues: 526 -- for a ratio of 3.7 to 1. Advancing Volume: 249,899,000 / Declining Volume: 43,067,000 -- for a ratio of 5.8 to 1. New 52-Week Highs: 84 / New 52-Week Lows: 15.
10:15 EDTU.S. Philly Fed index dropped 16.3 points back to 24.5 in December
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10:15 EDTTreasury Action: yields still remain elevated
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10:14 EDTFDXFedEx management to meet with William Blair
Meeting to be held in Florida on December 18 hosted by William Blair.
10:10 EDTBAIRY, RYAAYBritish Airways parent considers Aer Lingus takeover, FT reports
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10:10 EDTFX Action: The dollar showed little if any reaction
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10:08 EDTPAHPlatform Specialty Products reports purchase of 500K by founders
Platform Specialty Products announces the recent purchase of an aggregate of 500,000 shares of Platform's common stock by its Chairman and one of its founder entities. Chairman Martin Franklin filed a Form 4 with the SEC announcing the purchase of an aggregate of 250,000 shares of Platform's common stock in the open market. On December 16 and 17, Berggruen Acquisition Holdings, one of Platform's founder entities, purchased an aggregate of 250,000 shares of Platform's common stock in the open market.
10:08 EDTPhiladelphia Fed Survey General Business Conditions Index data reported
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10:08 EDTLeading Indicators data reported
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10:07 EDTUN, UL, PG, CL, LRLCYFrance's antitrust authority fines Colgate, Unilever, P&G, WSJ reports
France's Autorité de la Concurrence has fined consumer product companies including Unilever (UN, UL), Procter & Gamble (PG), Reckitt Benckister (RGBLY) and Colgate (CL) a total of EUR345.2M for anticompetitive practices between 2003-2006, The Wall Street Journal reports. L'Oreal (LRLCY), Gillette and Beiersdorf were fined EUR605.9M in total. Reference Link
10:06 EDTSPY, SPXS&P 500 rallies, levels to watch
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10:05 EDTSINASINA call activity attributed to takeover speculation
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10:04 EDTCAGConAgra sees private brands recovery taking longer than originally planned
Expects recovery for private brands segment to take longer than originally planned. Sees private brands "down" for the year, but still expects to meet FY company EPS commitments. Sees FY15 as a year of "foundation building." Expects having FX headwinds "to deal with." Expects inflation in proteins to be "manageable." Says committed to long-term vision for private brands. CEO Gary Rodkin says still intends to retire in May, but will be flexible. Says CEO search ongoing. Says international shipments disrupted by longshoremen labor dispute, says issues may cause further disruption. Sees other units offsetting weakness in private brands. Sees operating margin growing double digit levels over next few years. Says capital allocation priority will be repayment of debt. Intends to maintain current annual dividend rate, will limit share repurchases. Expects limited acquisition activity as company repays debt. Sees good sales, profit growth for commercial foods in FY15. Comments made on the Q2 earnings conference call. ConAgra shares are down 4.42% to $35.46 in morning trading.
10:01 EDTCMTLComtech says unit awarded $1.1M contract
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10:01 EDTCOH, AVP, AMD, AXP, CRNT, HLT, INTC, IOC, MAR, KORS, SBH, HOT, THC, TXN, WBC, LNKD, SPB, GPRO, ATML, FOSLOn The Fly: Analyst Initiation Summary
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10:01 EDTBRKR, LLTC, MAC, BBEP, OII, OIS, TER, VOLC, XL, INTU, PVA, WLL, TWC, RCL, SIMGOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Bruker (BRKR) downgraded to Sell from Neutral at Goldman...Linear Technology (LLTC) downgraded to Sell from Neutral at Citigroup... Macerich (MAC) downgraded to Neutral from Buy at MLV & Co... BreitBurn Energy (BBEP) downgraded to Sector Perform from Outperform at RBC Capital... Oceaneering (OII) downgraded to Sector Perform from Outperform at RBC Capital... Oil States (OIS) downgraded to Sector Perform from Outperform at RBC Capital... Teradyne (TER) downgraded to Neutral from Buy at Citigroup... Volcano (VOLC) downgraded to Neutral from Buy at Roth Capital... XL Group (XL) downgraded to Market Perform from Outperform at Keefe Bruyette... Intuit (INTU) downgraded to Neutral from Outperform at Wedbush... Penn Virginia (PVA) downgraded to Market Perform from Outperform at Wells Fargo... Whiting Petroleum (WLL) downgraded to Market Perform from Outperform at Wells Fargo... Time Warner Cable (TWC) downgraded to Neutral from Buy at BTIG... Royal Caribbean (RCL) downgraded to Sell from Hold at DNB Markets... Silicon Image (SIMG) downgraded to Market Perform from Outperform at Northland.
10:01 EDTFDX, ARCC, JOY, BHI, GLW, CPHD, CDE, SPN, TYC, WSM, HOLX, HAL, OVAS, LRCX, PSXOn The Fly: Analyst Upgrade Summary
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10:01 EDTWFCFINRA fines Wells Fargo Advisors, Wells Fargo Advisors Financial Network $1.5M
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10:00 EDTGME, ATVIGameStop offers holiday deals on Call of Duty, Xbox One, Gamespot reports
GameStop announced yesterday a number of deals on games and hardware, including Activision's (ATVI) Call of Duty: Advanced Warfare being offered for $40 and a $50 gift card being offered with all new Xbox One (MSFT) purchases, reported video game blog Gamespot. Reference Link
10:00 EDTU.S. leading indicators preview:
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09:55 EDTSINARumor: SINA strength attributed to takeover speculation
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09:52 EDTAVEOAveo Pharmaceuticals shares recommended by Agora Financial
Agora Financial named Aveo Pharmaceuticals a new buy recommendation with a $57 price target.
09:48 EDTFed comments continue to push market higher
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09:47 EDTCATCaterpillar reports retail machines sales down 10% in three months end November
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09:45 EDTJACKJack in the Box management to meet with Oppenheimer
Meeting to be held in Kansas City, MO on December 18 hosted by Oppenheimer.
09:42 EDTEQMEQT Midstream Partners upgraded to Conviction Buy from Buy at Goldman
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09:41 EDTMWEMarkWest Energy downgraded to Buy from Conviction Buy at Goldman
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09:41 EDTTRGPTarga Resources downgraded to Buy from Conviction Buy at Goldman
Price target lowered to $143 from $170.
09:38 EDTFNGNFinancial Engines initiated with an Outperform at Avondale
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09:38 EDTEXXIEnergy XXI assets attracting interest from many companies, Upstream says
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09:35 EDTAAPL, FB, TSLA, PBR, RAD, AMAT, NFLX, GILD, KMI, TWTRActive equity options trading
Active equity options trading according to Track Data: AAPL FB TSLA PBR RAD AMAT NFLX GILD KMI TWTR
09:35 EDTKATE, WSMKate Spade Saturday, West Elm to team on home collection
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09:35 EDTBMRCBank of Marin downgraded to Hold from Buy at Sandler O'Neill
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09:32 EDTWCCWESCO upgraded to Positive from Neutral at Susquehanna
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09:32 EDTVXXiPath S&P 500 VIX Short-Term Futures is recently down 1.28 to 29.87
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09:32 EDTNPOEnPro downgraded to Neutral from Buy at Sidoti
09:29 EDTTNKTeekay Tankers to acquire five modern Aframax tankers for $230M
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09:28 EDTNEWMNew Media initiated with a Neutral at Sidoti
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09:27 EDTMDPMeredith initiated with a Neutral at Sidoti
09:27 EDTSIMGSilicon Image downgraded to Neutral from Buy at Sidoti
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09:25 EDTYellen's playbook puts labor slack over oil price declines:
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09:24 EDTSIMGSilicon Image downgraded to Market Perform from Outperform at Northland
09:24 EDTTYLTyler Technologies awarded master purchasing agreement by Rhode Island schools
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09:22 EDTLNGCheniere, EDP sign 20-Year LNG sale and purchase agreement
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09:22 EDTSYRGSynergy Resources sees 2015 production up 100% YoY
Synergy Resources' fiscal 2015 capital forecast originally anticipated a maximum of $200M for 40 net operated and non-operated wells to be drilled and completed in the Wattenberg Field during fiscal 2015. The revised budget estimates $180M will be spent on drilling and completing a total of 48 net operated and non-operated wells and includes the $75M cash payment for the recently closed Wattenberg Field acquisition and incorporates changes in the completion design for future wells. Excluding the acquisition capital, the company anticipates completing 20% more net wells for less capital than originally forecasted. With these anticipated lower costs, these wells should pay back in 10-30 months and generate an IRR of 25%-120%. Executing this revised program should enable the company's FY15 production growth to exceed 100%.
09:22 EDTMEMPMemorial Production announces $150M common unit repurchase program
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09:21 EDTRAD, ORCL, AKS, AGEN, GSK, HTZ, OVAS, TTPH, GOL, WGO, SIMG, DNKN, GNWOn The Fly: Pre-market Movers
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09:20 EDTPGRProgressive ratings affirmed by A.M. Best
A.M. Best has affirmed the financial strength rating of A+ and the issuer credit ratings of “aa” of the members of Progressive Agency Pool, Progressive Direct Pool and Progressive Commercial Auto Group. A.M. Best also has affirmed the FSR of A and ICR of “a+” of National Continental Insurance Company. Additionally, A.M. Best has affirmed the ICR of “a” and all debt ratings of the parent holding company, The Progressive Corporation. The outlook for all ratings is stable. Progressive recently announced that it has agreed to acquire a controlling position in ARX Holding Corp., the parent company of American Strategic Insurance Corp and its affiliates, in an all-cash transaction valued at approximately $875M. The transaction, which is anticipated to close by April 1, 2015, is not expected to impact Progressive’s existing ratings and outlook, A.M. Best said.
09:18 EDTEXPDExpeditors weakness creates buying opportunity, says BB&T
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09:17 EDTNCLHNorwegian Cruise Line downgraded to Hold from Buy at DNB Markets
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09:17 EDTCRKComstock Resources reports 2015 exploration budget of $307M and production view
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09:15 EDTTRNOTerreno Realty acquires buildings in Landover, MD for $31.3M
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09:14 EDTFDXFedEx weakness a buying opportunity, says RW Baird
Baird said they are buyers of yesterday's pullback in FedEx despite its Q2 earnings miss. The firm feels expectations were raised due to falling fuel prices but that the company's EBIT margin improvement was evident, which remains a critical catalyst for the stock. Baird reiterated its Outperform rating but lowered its price target to $190 from $195 on FedEx shares.
09:14 EDTRCL, CCL, NCLHCruise sector won't benefit from Cuba deal for several years, says Wells Fargo
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09:13 EDTOXYOccidental, Mexichem say joint venture ethylene cracker project on schedule
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09:13 EDTSCTYSolarCity expands operations to Western Massachusetts
SolarCity is expanding its solar service to Western Massachusetts with a new operations center in Agawam. The new operations center is its fourth in Massachusetts. SolarCity will initially offer service to customers of National Grid and Western Massachusetts Electric in the region. There are approximately 30 staff working out of the Western Massachusetts operations center today and the company plans to fill an additional 50 positions for the facility.
09:10 EDTNCLHNorwegian Cruise Line downgraded to Hold from Buy at DNB Markets
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09:10 EDTSYMXSynthesis Energy partners for distributed power generation program in China
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09:10 EDTRCLRoyal Caribbean downgraded to Sell from Hold at DNB Markets
DNB Markets downgraded Royal Caribbean to Sell based on share outperformance, increasing industry capacity growth, and a muted start to 2015 for yields.
09:09 EDTEGHT8x8, Inc. issued new conferencing and meeting patent by USPTO
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09:07 EDTKNDIKandi Technologies sells 700 electric vehicles in China
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09:07 EDTLHLabCorp announces availability of test to identify enterovirus D-68
LabCorp announced the availability of a reflex test to identify enterovirus D68, which is associated with severe respiratory illness that primarily affects children. The EV-D68 PCR test determines the presence or absence of enteroviral RNA in a respiratory sample, and if positive, reflexes to an EV-D68-specific PCR test. The EV-D68 subtyping PCR test enables the presence or absence of the predominant D68 strain to be determined.
09:06 EDTCSCOCisco price target raised to $32 from $29 at RW Baird
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09:06 EDTLPNT, CYH, HCA, UHS, THCHospital stocks have reached nice entry point, says Sterne Agee
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09:05 EDTRWLK, NXTMReWalk Robotics appoints Kevin Hershberger as CFO
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09:05 EDTCIRCIRCOR announces $75M share repurchase program
CIRCOR Internationa announced that its Board of Directors has authorized a new share repurchase program of up to $75M of the company's outstanding common stock.
09:05 EDTFFord adds 447K vehicles to Takata airbag safety recall
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09:05 EDTSARASaratoga targets LOE, G&A reductions with potential cash savings of $4.5M
Saratoga Resources provided an update on results of recent operations and measures being taken to reduce costs and enhance operational efficiencies in the current challenging environment with oil prices declining to five year lows. The company has successfully completed several thru-tubing plugback operations with total capital expenditure of approximately $400,000 with initial production rates of net 695 BOEPD, 14% of which is oil, with the results of several ongoing operations still pending. These operations were conducted in Breton Sound, Grand Bay, Lake Fortuna and Main Pass 25 fields. Given the recent sharp decline in commodity prices, the Company expects to focus its near-term operations on similar low-cost recompletions and workover operations that are available to the Company due to the multiple stacked sands in many of its fields. Saratoga is continuing, and in light of commodity price declines has accelerated, its cost cutting measures in lease operating expenses as well as general and administrative expenses. Recent efforts in this regard have included replacing outsourced accounting functions with new hires, leading to large savings, and it continues to reduce reliance on outside consultants and contract staff while right- sizing its staff. The company has targeted reductions in LOE and G&A representing potential cash savings of approximately $4.5M in 2015. Cash savings relative to 2014 levels are also expected to be realized following significant expenditures during 2014 to bring current deferred maintenance and upgrade infrastructure, including salt water handling, transportation and re-routing the production from its Main Pass 46 and 52 fields to Grand Bay, all with a view to continuing to improve run times and operating efficiencies and reducing future costs in the field. The company expects that the bulk of these expenditures are behind it and that run times will show marked improvement in early 2015 as compared to 2014. If commodity prices continue to fall, or remain at these low levels for a sustained period, the company will make even deeper cuts. Additional cost savings are expected as costs of service providers are expected to come down, and have already begun to come down, in the current price environment. The company is moving quickly to position itself to weather the recent decline in commodity prices. The company expects that its asset base, with stacked sands in multiple fields and infrastructure in place, together with ongoing cost cutting measures will allow it to operate in this lower price environment while pursuing low-cost opportunities to enhance production. The company expects to temporarily shelve new drills in favor of lower-cost alternatives such as workovers and recompletions similar to those recently undertaken and possible sidetrack options, at approximately one-half the cost of new drills, for future horizontal wells at Breton Sound 32 and Grand Bay fields.
09:04 EDTVLOValero downgraded to Hold from Buy at Deutsche Bank
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09:03 EDTPSXPhillips 66 upgraded to Buy from Hold at Deutsche Bank
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09:03 EDTSGENSeattle Genetics initiates Phase 1b trial of SGN-CD33A
Seattle Genetics announced initiation of a phase 1b clinical trial of SGN-CD33A in combination with standard of care chemotherapy, including cytarabine and daunorubicin, for patients with newly diagnosed acute myeloid leukemia. The trial will also evaluate SGN-CD33A in the consolidation setting for AML, both in combination with cytarabine and as a single-agent maintenance regimen. SGN-CD33A is a novel antibody-drug conjugate targeted to CD33 utilizing Seattle Genetics’ newest technology. CD33 is expressed on most AML cells regardless of subtype, cytogenetic abnormality or underlying mutational heterogeneity. SGN-CD33A is also under evaluation in an ongoing phase 1 dose escalation trial as a single-agent or in combination with hypomethylating agents for the treatment of patients who have relapsed AML or have declined intensive frontline therapy. The study is a phase 1b, open-label, multi-center, dose-escalation clinical trial designed to evaluate SGN-CD33A administered in combination with frontline standard of care regimens for induction (cytarabine and daunorubicin) and/or consolidation. In addition, the study will evaluate single-agent SGN-CD33A as a maintenance regimen. The primary endpoints are determination of the maximum tolerated dose and safety profile of SGN-CD33A in these settings. In addition, the trial will evaluate anti-leukemic activity, pharmacokinetics, progression-free survival and overall survival. The phase 1b trial will enroll approximately 90 patients at multiple centers in the United States.
09:02 EDTDBDDiebold and Banque Internationale a Luxembourg partner for cardless solution
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09:02 EDTAMZNAmazon announces thousands of titles in Amazon FreeTime Unlimited
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09:01 EDTAALAmerican Airlines announces codeshare agreement with Interjet
American Airlines has signed a codeshare agreement with Mexico City-based Interjet. American will codeshare on Interjet flights from Mexico City to five destinations – Huatulco, Villahermosa, Merida, Tuxtla Gutierrez, and Oaxaca. American and Interjet will submit an application to the U.S. Department of Transportation for regulatory approval of the proposed codeshare cooperation.
09:01 EDTOSKU.S. Army orders Oshkosh FMTVs
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09:00 EDTIMMYImprimis initiated with a Buy at CRT Capital
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08:58 EDTSTKLSunOpta upgraded to Buy from Hold at Miller Tabak
08:57 EDTBGSFBG Staffing sells 956K shares at $9.75 per share in private placement
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08:57 EDTMEIPMEI Pharma removed from Focus List at Roth Capital
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08:53 EDTSLHSolera management to meet with JPMorgan
Meeting to be held in Milwaukee on December 18 hosted by JPMorgan.
08:52 EDTTTPHTetraphase price target raised to $46 from $28 at Needham
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08:52 EDTTOT, XOM, RDS.AMarket under-appreciating cost curve adjustments by oil majors, says Cowen
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08:50 EDTOCNOcwen facing new probe over delays on underwater home sales, Bloomberg says
The New York Department of Financial Services and the Consumer Financial Protection Bureau are investigating whether Ocwen improperly delayed short sales by borrowers who are underwater on their homes, according to Bloomberg, citing two people briefed on the case. A spokeswoman for Ocwen said the company “has no desire to delay short sales” and that costs increase when the process is prolonged, Bloomberg noted. Reference Link
08:50 EDTThe 6k U.S. initial claims drop to 289k
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08:50 EDTU.S. equities are on the warpath
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08:49 EDTHOSHornbeck Offshore upgraded to Overweight from Equalweight at Capital One
Capital One upgraded Hornbeck to Overweight given newbuild commitments and relative valuation. Price target lowered to $32 from $37.
11:55 EDTAHS, AHSAMN Healthcare to hold a conference call
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08:49 EDTGISGeneral Mills margins should rise over time, says BMO Capital
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08:47 EDTNEOGNeogen reports Q2 EPS 21c, consensus 22c
Reports Q2 revenue $68.46M, consensus $69.77M. Neogen's gross margin was 50.0% in Q2, compared to 49.5% for prior year, with the increase largely the result of favorable product mix shifts and improved efficiencies within the company's Animal Safety segment.
08:45 EDTATMLAtmel initiated with an Equal Weight at Stephens
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08:45 EDT$DJUDJ Utility Average: Pivot points
The following are the pivot points for the $DJU. Pivot High: 608.255, Pivot Low: 597.015. These were calculated using the DeMark method. It is generally believed to be bullish when price breaks out above the pivot high or bearish when price breaks down below the pivot low.
08:45 EDT$DJTDJ Transportation Average: Pivot points
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08:45 EDTDJXDow Jones Industrial Average: Pivot points
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08:45 EDTIYTISHARES DJ TRANS AVG: Pivot points
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08:45 EDTXLKTechnology Select Sector SPDR: Pivot points
The following are the pivot points for XLK. Pivot High: $41.060, Pivot Low: $40.230. 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 EDTXLEEnergy Select Sector SPDR: Pivot points
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08:45 EDTXLYConsumer Discretionary Sector SPDR: Pivot points
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08:45 EDTXLBS&P Select Materials SPDR: Pivot points
The following are the pivot points for XLB. Pivot High: $48.125, Pivot Low: $46.905. 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 EDTXLUUtilities SPDR: Pivot points
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08:45 EDTXLPConsumer Staples Sector SPDR: Pivot points
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08:45 EDTXLVHealth Care Select Sector SPDR: Pivot points
The following are the pivot points for XLV. Pivot High: $69.440, Pivot Low: $67.965. 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: $204.090, Pivot Low: $200.040. 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: $103.030, Pivot Low: $100.860. These were calculated using the DeMark method. It is generally believed to be bullish when price breaks out above the pivot high or bearish when price breaks down below the pivot low.
08:45 EDTSPXS&P 500: Pivot points
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08:45 EDT$COMPNasdaq Composite: Pivot points
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08:45 EDTTreasury Action: yields remained elevated
Treasury Action: yields remained elevated in the wake of the drop in jobless claims, which did little to slow the ramp-on rally in equities in the wake of the Fed and SNB meetings. That's seen the T-note yield clear 2.18% earlier compared to the 2.13% close before consolidating again. The 2s-10s spread has widened out to +155 bp, while the 5s-30s has settled near +112 bp. Stocks are poised to open sharply higher.
08:45 EDTNDXNasdaq 100 Index: Pivot points
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08:45 EDTFX Action: The dollar picked up marginally
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08:44 EDTAAVLAvalanche Biotechnologies files to sell $100M of common stock
Jefferies, Cowen, and Piper Jaffray are acting as joint book-running managers for the offering.
08:44 EDTOVASOvaScience price target raised to $54 from $16 at JMP Securities
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08:43 EDTSVMSilvercorp Metals appoints founder Dr. Rui Feng as CEO
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08:41 EDTTPCTutor Perini added to Top Picks list at FBR Capital
FBR Capital added Tutor Perini to its Top Picks list citing the recent weakness in the stock and reiterates an Outperform rating on the name. FBR thinks cash flow from the MGM/CityCenter settlements significantly improves Tutor's balance sheet. It has a $38 price target for the name.
08:41 EDTKRFTKraft Foods CEO Vernon to retire, Cahill to be Chairman and CEO
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08:40 EDTThe Financial Stability Oversight Council to hold a meeting
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08:40 EDTKMXCarMax volatility elevated into Q3 and booking outlook
Carmax December call option implied volatility is at 125, January is at 43, April is at 31; compared to its 26-week average of 32 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on December 19.
08:40 EDTU.S. initial jobless claims fell 6k to 289k in the week ended December 13
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08:38 EDTTSLATesla provides significant opportunity at current levels, says Pacific Crest
Pacific Crest believes that overdone concerns and declining sentiment have created a big 2015 opportunity for Tesla's stock. The firm believes that the Model X product cycle will soon cause sentiment towards the stock to improve. Pacific Crest thinks the company will sell everything it makes for a long time, and reiterates a $316 price target and Outperform rating on the shares.
08:37 EDTHIIQHealth Insurance Innovations announces share repurchase program
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08:37 EDTORCLOracle Q2 solid, guidance 'good enough,' says FBR Capital
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08:36 EDTBRLIBio-Reference Labs reports Q4 EPS 66c, consensus 63c
Reports Q4 revenue $227.59M, consensus $228.81M.
08:35 EDTRGSERGS Energy awarded over 80 contracts from Solarize Rhode Island project
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08:34 EDTFutures continue to suggest sharply higher open
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08:33 EDTALDXAldeyra submits FDA IND filing for noninfectious anterior uveitis
Aldeyra Therapeutics submitted an Investigational New Drug application to conduct Phase 2 clinical testing of NS2 for the treatment of noninfectious anterior uveitis to the FDA on December 16. Noninfectious anterior uveitis is a rare disease that affects an estimated 25,000 patients per year in the U.S. Aldeyra has developed an ophthalmic formulation of its lead product candidate, NS2, to treat this disease and intends to initiate a Phase 2 trial for this indication in 2015, pending FDA review of the IND.
08:32 EDTKFYKorn/Ferry expects to declare first quarterly dividend in March 2015
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08:31 EDTFTEKFuel Tech awarded air pollution control orders totaling $3.6M
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08:31 EDTSWKS, AAPLSkyworks price target raised to $90 from $75 at Pacific Crest
Pacific Crest increased its price target on Skyworks (SWKS), citing better than expected handset demand at Apple (AAPL) and Samsung. The firm expects Skyworks' revenue and gross margins to continue rising significantly into 2015. Pacific Crest recommends buying Skyworks.
08:30 EDTALU, NOKAlcatel-Lucent, Nokia reported to be in merger talks, Bloomberg says
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08:26 EDTVRSKVerisk Analytics named a top pick at Morgan Stanley
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08:26 EDTKEXKirby sell-off a buying opportunity, says FBR Capital
FBR Capital lowered its price target for Kirby shares to $100 from $145 following the company's guidance cut, but views the corresponding sell-off as a buying opportunity. FBR thinks slower near-term growth is already reflected in the stock and notes management could look to make an acquisition with the reduced sector valuations. FBR removed Kirby from its Top Picks list and keeps an Outperform rating on the name.
08:25 EDTORCLPressure on Oracle financials increasing, says Oppenheimer
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08:23 EDTGM, VLKAY, TTMSeveral automakers halt Russia car sales due to ruble, Bloomberg reports
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08:23 EDTIHSIHS Inc. downgraded to Underweight from Equal Weight at Morgan Stanley
As previously reported, Morgan Stanley downgraded IHS Inc to Underweight from Equal Weight. The firm expects declining capex at energy companies to pressure organic revenue growth and has concerns the company pursue larger acquisitions to compensate. Price target lowered to $107 from $131.
08:22 EDTTWCTime Warner Cable downgraded to Neutral from Buy at BTIG
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08:20 EDTU.S. initial jobless claims preview:
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08:19 EDTYELPYelp pullback a buying opportunity, says Wunderlich
Wunderlich recommends using the pullback in shares of Yelp as a buying opportunity. The firm says its checks with Yelp advertisers has reinforced the value of the ads. It thinks acquisition rumors could resurface with Yelp now trading at a "more affordable price." Wunderlich reiterates a Buy rating on the stock with a $105 price target.
08:19 EDTAHSAMN Healthcare acquisition positive, says SunTrust
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08:18 EDTSSprint Chief Network Officer says 2014 network milestones met
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08:14 EDTLODEComstock Mining launches 2014-2015 exploration & development program
Comstock Mining has launched its 2014-2015 exploration and development drilling program. Drilling on the East-side of Lucerne commenced this week. The Program has four major objectives, 1) expanding the Lucerne East-side gold and silver resources, mine plan and current surface mining into the company's newly permitted area, 2) accelerating underground feasibility and developing high-grade, underground mine plans for that same newly permitted area, 3) expanding the Dayton gold and silver resources and developing a mine plan for potential future production, and 4) establishing a third major resource in the Spring Valley target area. The first phase is expected to include 35 Reverse Circulation drill holes totaling approximately 5,000 feet on the Lucerne East-side. The planned initial investment of approximately $1M will allow for the expansion of surface mining and help assess the feasibility of specific underground mining opportunities. Subsequent phases of exploration drilling for the Lucerne will extend farther south and east for an additional investment of $1M. The Dayton Resource Area and Spring Valley areas are scheduled for approximately 80,000 feet of RC drilling and approximately 20,000 feet of core drilling at a total investment of approximately $2.9M and $2.0M, respectively.
08:12 EDTABXBarrick Gold to suspend operations at Lumwana
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08:11 EDTAMDAAmedica reports preliminary FY14 revenue $22M-$24M, consensus $23.75M
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08:10 EDTTEPTallgrass Pony Express Pipeline extends open seasons
Tallgrass Pony Express Pipeline, LLC announced that it is extending its local open season and its joint open season with Hiland Crude, LLC to accommodate interested shippers. The extension will end on Jan. 23, 2015. Beginning in mid-2015, Pony Express expects to provide shippers who commit to the full expansion a pro-rata share of interim capacity of approximately 100,000 barrels per day. The company expects to complete construction of all new facilities in 2016.
08:09 EDTWLLWhiting Petroleum price target lowered to $85 from $99 at Brean Capital
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08:09 EDTIGCIndia Globalization Capital acquires Midtown Partners
IGC announces the acquisition of Midtown Partners & Co, a New York based licensed broker dealer, as part of its strategy to diversify and expand into the legal cannabis industry. IGC will acquire 24.9 % of Midtown for up to 1.2M shares of common stock, subject to regulatory approval and downward adjustment based on certain Q4 2014 financial statement matters including the amount of cash in Midtown. Following the receipt of all required SEC, FINRA and other regulatory approvals, IGC has agreed to acquire, in a final closing, the remaining 75.1% of the outstanding membership interests in Midtown for an additional 700,000 shares of our common stock, subject to downward adjustment based on certain financial statement matters prior to the final closing. IGC expects Midtown to have enough cash to fund IGC's plans for Midtown.
08:09 EDTALNY, CBSTAlnylam names Cubist CEO Michael Bonney to board of directors
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08:08 EDTATUActuant sees Q2 EPS 25c-30c, consensus 40c
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08:08 EDTATUActuant sees FY15 EPS $1.85-$2.00, consensus $2.05
Sees FY15 sales $1.33B-$1.37B, consensus $1.43B. Sees FY15 free cash flow $150M.
08:07 EDTTMToyota to invest $126M to expand Southeast Michigan R&D campuses
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08:07 EDTATUActuant reports Q1 continuing ops EPS 38c, consensus 42c
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08:07 EDTGPROGoPro initiated with an Equal Weight at Morgan Stanley
Morgan Stanley initiated GoPro with an Equal Weight and $57 price target.
08:06 EDTSTEMStemCells transplants first participant in Phase II clinical trial
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08:06 EDTDGIDigitalGlobe increases share repurchase authorization to $205M
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08:05 EDTGHDXGenomic Health apoints Patrick F. Terry as Chief Commercial Officer
Claritas Genomics appointed Patrick F. Terry to the role of Chief Commercial Officer. Terry has been involved in shepherding multiple biotechnology products through commercial development to clinical delivery.
08:05 EDTVPCOVapor Corp. signs definitive merger agreement with Vaporin
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08:05 EDTCBGCBRE says healthcare specialty group achieved strong growth in 2014
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08:04 EDTWGL, CPKWGL Holdings wins bid to provide natural gas to Delaware state agencies
WGL Holdings, Inc. (WGL) announces that its subsidiary, Washington Gas Energy Services, recently won the contract to supply natural gas to 145 State of Delaware accounts. Those accounts include school districts, college campuses, correctional facilities and a state hospital. The fixed price contract is for three years, beginning December 1, 2014. Washington Gas Energy Services will supply Delaware 1.6 million dekatherms of natural gas over the life of the contract period through Chesapeake Utilities Corporation (CPK) distribution lines.
08:04 EDTWLLWhiting Petroleum downgraded to Market Perform from Outperform at Wells Fargo
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08:04 EDTTGITriumph Group management to meet with UBS
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08:04 EDTTPLMTriangle Petroleum downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded Triangle Petroleum and others in the Exploration & Production space to Market Perform on concern that access to capital will become much more difficult amid low oil prices.
08:04 EDTACE, AZSEYACE Limited to acquire Fireman's Fund high net worth personal lines from Allianz
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08:03 EDTXNCR, NVOXencor and Novo Nordisk partner for novel drug development
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08:03 EDTTRCBTwo River Bancorp approves new $2M share repurchase program
Two River Bancorp announced that its board has approved a new Share Repurchase Program. Under this new program, the company may repurchase up to $2M of its common stock from January 1, 2015 to December 31, 2015.
08:03 EDTREXXRex Energy downgraded to Market Perform from Outperform at Wells Fargo
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08:03 EDTRENResolute Energy downgraded to Market Perform from Outperform at Wells Fargo
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08:03 EDTQEPQEP Resources downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded QEP Resources and others in the Exploration & Production space to Market Perform on concern that access to capital will become much more difficult amid low oil prices.
08:03 EDTTHMInternational Tower Hill Mines CFO to resign
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08:03 EDTPVAPenn Virginia downgraded to Market Perform from Outperform at Wells Fargo
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08:03 EDTPFEPfizer reports statistically significant results in Phase 3 pregabalin study
Pfizer announced top-line results from a double-blind Phase 3 study evaluating pregabalin controlled-release formulation in adult patients with postherpetic neuralgia. The results show that pregabalin CR resulted in a statistically significant positive effect compared to placebo in the primary endpoint, time to loss of therapeutic response in pain reduction. PHN is a type of peripheral neuropathic pain caused by nerve damage. Symptoms include continued burning or electric shock-like pain.1 This study is the final of three Phase 3 studies of the pregabalin CR formulation conducted to ascertain the potential use of pregabalin as a once-a-day therapy. The first study in adults with partial onset seizures with epilepsy did not meet its primary endpoint. In the second study in patients with fibromyalgia, pregabalin CR had a statistically significant positive effect compared to placebo in the primary endpoint, time to LTR in pain reduction. The objective of the Phase 3 double-blind, randomized, placebo-controlled study was to evaluate the safety and efficacy of pregabalin CR compared with placebo in the durability of effect for the treatment of pain associated with PHN among patients who initially respond to single-blind pregabalin.
08:02 EDTPEParsley Energy downgraded to Market Perform from Outperform at Wells Fargo
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08:02 EDTOASOasis Petroleum downgraded to Market Perform from Outperform at Wells Fargo
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08:02 EDTLPILaredo Petroleum downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded Laredo Petroleum and others in the Exploration & Production space to Market Perform on concern that access to capital will become much more difficult amid low oil prices.
08:02 EDTCCIHChinaCache announces $10M share buyback program
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08:02 EDTJONEJones Energy downgraded to Market Perform from Outperform at Wells Fargo
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08:02 EDTHARHarman to acquire S1nn GmbH, terms not disclosed
HARMAN International Industries announced that it has signed an agreement to acquire S1nn GmbH & Co. KG, a developer of infotainment systems, connectivity and car audio solutions. This transaction is subject to regulatory and other approvals. Terms of the deal have not been disclosed. The S1nn team will be integrated into HARMAN's Infotainment division, led by Sachin Lawande.
08:01 EDTGDPGoodrich Petroleum downgraded to Market Perform from Outperform at Wells Fargo
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08:01 EDTEPEEP Energy downgraded to Market Perform from Outperform at Wells Fargo
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08:01 EDTDVDeVry to acquire Faculdade Ideal , terms not disclosed
DeVry Education Group announced that DeVry Brasil has entered into an agreement to acquire Faculdade Ideal. Located in Belém, Pará in northern Brazil, Faci currently serves approximately 2,500 students and offers undergraduate programs in high-demand career fields such as law, education, accounting, technology and engineering. The transaction is expected to be completed in the third quarter of fiscal 2015. -
08:01 EDTECREclipse Resources downgraded to Market Perform from Outperform at Wells Fargo
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08:01 EDTBBGBill Barrett downgraded to Market Perform from Outperform at Wells Fargo
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08:00 EDTSCSSteelcase volatility elevated into Q3 and booking outlook
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08:00 EDTOil Action: NYMEX crude remained relatively firm
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07:59 EDTTTPHTetraphase price target raised to $50 from $23 at Brean Capital
Brean Capital raised its price target on Tetraphase to $50 from $23 and called it an "easy" takeout target following the release of positive IGNITE 1 data for its fully synthetic antibiotic, Eravacycline. The firm said the company is looking for a partner to commercialize its drug but given big pharma's appetite for antibiotics they expect the company to be acquired. Brean Capital reiterated its Buy rating on Tetraphase shares.
07:58 EDTGBDC, HTGC, TSLX, TCAP, ARCC, TCPC, FSIC, TPVGBusiness development companies oversold, says Wells Fargo
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07:57 EDTPCARPACCAR data points suggest longer truck cycle, says UBS
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07:56 EDTSIMGSilicon Image sees FY15 revenue down 10% from FY14, consensus $271.32
Silicon Image announced earlier that it expects a year-over-year revenue decline in 2015 of approximately 10% due to a reduction in mobile design wins at one of its largest customers. The decline in the mobile business segment is expected to be partially offset by continued strength in the company’s CE business segment due to continued penetration of MHL in mainstream TVs, and the popularity of 4K Ultra HD where the company has multiple HDMI 2.0 / MHL 3.0 designs. “Although we believe that both our CE and licensing businesses will remain strong, we now anticipate top line 2015 revenues to be down compared to 2014. While we continue to execute on our long term strategic growth initiatives, we remain committed to reduce our operating expenses in 2015 and anticipate that even with a top line revenue decline, we will remain profitable with operating margin as a percent of revenue expected to be flat to slightly up for the year,” said CEO Camillo Martino. For reference, FY14 revenue consensus $255.04M. Shares of Silicon Image are down about 32% to $4.60 in pre-market trading after the company cautioned on its mobile outlook.
07:56 EDTJPMJPMorgan management to meet with Deutsche Bank
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07:56 EDTICENYSE says raised $182B in 545 transactions in 2014
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07:53 EDTTRAKDealerTrack to host conference call
Conference call to discuss the acquisition of International incadea plc will be held on December 18 at 8:30 am. Webcast Link
07:50 EDTTreasury Market Outlook: Treasuries are lower
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07:48 EDTJOYJoy Global upgraded at Longbow
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07:47 EDTWCCWESCO price target lowered to $90 from $95 at UBS
UBS lowered its price target on WESCO to $90 from $95 to reflect guidance that was below the Street's estimates. UBS maintained its Buy rating on WESCO shares.
07:47 EDTJEC, BPJacobs Engineering selected by BP as strategic supplier
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07:46 EDTMCSMarcus reports Q2 EPS 19c, consensus 14c
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07:46 EDTRTRXRetrophin management to meet with Deutsche Bank
Meeting to be held in Baltimore on December 18 hosted by Deutsche Bank.
07:46 EDTJOYJoy Global price target lowered to $50 from $64 at UBS
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07:46 EDTThe Heritage Foundation holds a discussion on economic growth in 2015
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07:45 EDTSPBSpectrum Brands initiated with an Outperform at Wells Fargo
Price target range $103-$105.
07:45 EDTBCSBarclays says more funds to be put aside to settle forex claims, Sky reports
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07:44 EDTAPDAir Products management to meet with Deutsche Bank
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07:43 EDTTTPHTetraphase price target raised to $54 from $28 at Stifel
Stifel increased its price target on Tetraphase after a study of the company's eravacycline treatment met its primary endpoint. The firm thinks the results of the study were positive and could lead to FDA approval in 2016. Stifel believes the company could well be acquired before the end of 2015. It keeps a Buy rating on the shares.
07:39 EDTCPTCamden Property identified as best idea for 2015 at Stifel
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07:37 EDTPARPAR Technology says activity management system selected by Remington Hotels
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07:37 EDTThe SEC to hold a closed commission meeting
Closed Commission Meeting to discuss institution and settlement of injunctive actions, institution and settlement of administrative proceedings and other matters relating to enforcement proceedings is being held at SEC Washington, D.C. offices on December 18 at 2 pm.
07:36 EDTMRKMerck acquires OncoEthix, terms include upfront payment of up to $110M
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07:36 EDTOVASOvaScience price target raised to $56 from $23 at Leerink
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07:35 EDTThe FDA to hold a closed joint advisory committee meeting
The Reproductive & Urologic Drugs Advisory Committee and the Drug Safety & Risk Management Advisory Committee discuss whether the FDA should permit further clinical development of an existing investigational drug product, which will include the review of trade secret and/or confidential information, in a closed meeting being held at FDA Silver Spring, Maryland offices on December 18 at 8:15 am.
07:35 EDTWPRTWestport coverage resumed with a Hold at Stifel
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07:35 EDTCCECoca-Cola Enterprises board approves new $1B share repurchase plan
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07:35 EDTCCECoca-Cola Enterprises sees FY15 EPS up 6%-8%
For 2015, CCE expects earnings per diluted share to grow in range of 6 percent to 8 percent on a comparable and currency-neutral basis. Although too early to predict the impact, based on recent rates, currency translation would negatively impact full-year 2015 earnings per diluted share by approximately 7 percent. Net sales and operating income are expected to be slightly positive on a comparable and currency-neutral basis. The company also expects 2015 free cash flow in a range of $650 million to $700 million, including the expected negative impact of currency translation based on recent rates. Capital expenditures are expected to be in a range of $325 million to $350 million. Weighted-average cost of debt is expected to be approximately 3 percent. The comparable effective tax rate for 2015 is expected to be in a range of 27 percent to 28 percent. “In the year ahead, we see our operating environment characterized by continued marketplace challenges and soft macroeconomic conditions in many areas,” said Hubert Patricot, executive vice president and president, European Group. “As our consumers and our customers continue to face the impact of these factors, we will work diligently to enhance efficiency, create a more effective and agile organization, and ultimately reignite topline growth."
07:34 EDTCCECoca-Cola Enterprises affirms FY14 comparable, currency neutral EPS growth
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07:34 EDTSPHSSophiris Bio downgraded to Hold from Buy at Stifel
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07:32 EDTCAGConAgra sees FY15 adjusted EPS up MSD over FY14
The company continues to expect fiscal 2015 diluted EPS, adjusted for items impacting comparability, to show a mid-single digit rate of growth over the comparable diluted EPS of $2.17 earned in fiscal 2014. Consensus is $2.25. For the full fiscal year, a continuation of good performance from Consumer Foods and Commercial Foods, as well as the benefit of productivity and efficiency initiatives, are expected to offset a profit decline in the Private Brands segment. The company continues to expect operating cash flow to be in the range of $1.6 billion-$1.7 billion, and to reduce debt by a total of $1 billion in fiscal 2015, thereby reaching its broader debt reduction goals for the fiscal 2013-2015 period.
07:31 EDTOVASOvaScience price target raised to $100 from $40 at H.C. Wainwright
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07:31 EDTCAGConAgra reports Q2 comparable EPS 61c, consensus 61c
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07:31 EDTLYBLyondellBasell names Bhavesh Patel as new CEO
LyondellBasell announced that the supervisory board has appointed Bhavesh V. "Bob" Patel as CEO, effective January 12, 2015. Patel has served as executive vice president, Olefins and Polyolefins – Europe, Asia & International and Technology since October 2013. Patel succeeds James Gallogly, who previously announced his plan to retire.
07:31 EDTGIBCGI Group awarded EUR22M IT services contract by city of Vantaa in Finland
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07:30 EDTORCLOracle price target raised to $50 from $48 at Canaccord
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07:29 EDTVGGL, SYRX, RIHT, HILL, MNGA, GLMD, GBSN, HBIO, VUZIEquities.com to hold a conference
Small-Cap Stars Conference is being held in New York on December 18.
07:29 EDTCALMCal-Maine Foods volatility elevated into Q2 and booking outlook
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07:28 EDTPFEPfizer shares poised to perform well in 2015, says Deutsche Bank
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07:28 EDTXLXL Group downgraded to Underperform from Market Perform at Bernstein
Bernstein downgraded XL Group to Underperform citing the expensive $4.2B acquisition of Catlin and dilution to TBV. Price target lowered to $30 from $33.
07:27 EDTPPandora weakness a buying opportunity for long-term investors, says Canaccord
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10:25 EDTStandard & Poor to hold a webinar
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07:26 EDTWHRWhirlpool price target raised to $219 from $198 at MKM Partners
MKM Partners raised Whirlpool's price target to $219 following yesterday's analyst day citing compelling long-term growth strategies. Shares are Buy rated.
07:26 EDTWCCWESCO outlook not as bad as feared, says RBC Capital
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07:23 EDTIMAX, RLD, SNEIMAX and RealD could benefit from The Interview cancellation, says B. Riley
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07:22 EDTLRLCYL'Oreal denies anticompetitive activity
L'Oréal has been informed of the French Competition Authority's decision to rule against manufacturers of household and hygiene products concerning events which took place in the early 2000s. L'Oréal refutes accusations of anti competitive activity with its competitors, and regrets that the French Competition Authority did not take into account the highly competitive French market in hygiene products as illustrated by the number of manufacturers and retailers present on the market, the large choice of products available to consumers, and the degree of innovation and number of launches. L'Oréal is extremely surprised by this decision and the amount of the fine which are totally out of proportion. L'Oréal will appeal this decision.
07:22 EDTPPGPPG Industries price target raised to $260 from $240 at Jefferies
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07:21 EDTBCRXBioCryst initiates OPuS-2 clinical trial of BCX4161
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07:20 EDTHXLHexcel selloff looks overdone, says RBC Capital
After Hexcel (HXL) dropped 10% on fears related to the outlook for Airbus (EADSY) planes, RBC Capital estimates that changes made by Airbus would only reduce the compound annual growth rate of Hexcel's commercial aerospace business to 10.6% from 11.4% during 2015-2020. The firm cut its 2015-2016 revenue estimates by 6% and trimmed its price target on the stock to $46 from $47 but keeps an Outperform rating on the shares.
07:20 EDTFATEFate Therapeutics Phase 2 PUMA interim results support continuation of trial
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07:18 EDTSYFSynchrony Financial initiated with a Buy at Jefferies
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07:17 EDTDISHDISH price target raised to $100 from $70 at Jefferies
Jefferies raised its price target for DISH shares to $100 saying the market is "overly discounting" the value of the company's spectrum. The firm expects DISH's spectrum value to accrete towards auction levels and keeps a Buy rating on the stock. Shares of the pay-TV provider closed yesterday up $1.24 to $69.72.
07:17 EDTPTRYAlimentation Couche-Tard to acquire The Pantry for $36.75 per share
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07:17 EDTSCHLScholastic backs FY15 EPS view $1.80-$2.00, consensus $2.02
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07:16 EDTWINWindstream provides update on REIT spinoff
Windstream provided an update on its planned REIT spinoff. Windstream announced it is refining the transaction structure in certain respects to benefit both Windstream and the REIT. Windstream now expects to retain 19.9% of the shares in the REIT and distribute the remaining 80.1% to Windstream stockholders. The retained shares will be sold opportunistically during a 12-month period following the spinoff, subject to market conditions, with the net proceeds used to retire debt.
07:16 EDTOVASOvaScience upgraded to Outperform from Neutral at Wedbush
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07:15 EDTAGEN, GSKAgenus reports GSK ZOE-50 Phase 3 study met primary endpoint
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07:15 EDTINTUIntuit downgraded to Neutral from Outperform at Wedbush
07:14 EDTVPFGViewPoint Financial upgraded to Strong Buy from Outperform at Raymond James
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07:14 EDTFed's comments lift futures
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07:14 EDTTLOGTetraLogic initiates SHAPE Phase 2 clinical trial
TetraLogic Pharmaceuticals announced the initiation of a randomized Phase 2 clinical trial of SHAPE in subjects with early stage cutaneous T‑cell lymphoma, or CTCL. SHAPE has been evaluated in a randomized, dose escalation, placebo-controlled Phase 1 clinical trial in early-stage CTCL subjects that met safety endpoints and demonstrated clinical activity. Four of fifteen patients receiving SHAPE attained an objective response as measured by a greater than 50% improvement in their Composite Assessment of Index Lesion Severity, or CAILS, score during and after 28 days of dosing. No placebo patients responded. The randomized Phase 2 trial will be conducted in approximately sixty subjects with Stage IA-IIA CTCL. The objectives of the Phase 2 clinical trial are to evaluate the dose, clinical effect at 6 months, time to response, and tolerability of treatment of greater than 2% body surface area.
07:13 EDTRPAIRetail Properties of America downgraded at KeyBanc
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07:13 EDTSCTY, CSIQSolarCity, Canadian Solar called top 2015 solar picks at JPMorgan
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07:13 EDTRLJRLJ Lodging Trust downgraded at KeyBanc
As previously reported, KeyBanc downgraded RLJ Lodging to Hold from Buy. The firm said the company is heavily exposed to markets with above-average supply additions, which is likely to limit RevPAR growth.
07:13 EDTAKERAkers signs EU distribution agreements for PIFA Heparin/PF4 Rapid Assay products
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07:11 EDTHHCHoward Hughes acquires six office buildings in Columbia, Maryland
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07:11 EDTAVIV, GEAviv REIT acquires 28 properties for $305M from GE Capital
Aviv REITannounced that it acquired 28 properties, plus an office building, for $305M from Diamond Senior Living, a subsidiary of General Electric Credit Corporation of Tennessee, which is itself a subsidiary of General Electric Capital (GE). All of the 28 properties are currently triple-net leased to new Aviv operator Laurel Health Care at an initial cash yield of 8.5%, for a remaining term of 15 years.
07:10 EDTTRAKDealerTrack announces 190p per share offer to acquire incadea plc
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07:10 EDTWGOWinnebago reports Q1 EPS 37c, consensus 45c
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07:09 EDTCPHRCipher Pharmaceuticals adopts notice by-law for director nominations
Cipher Pharmaceuticals has approved a By-Law that requires advance notice to the company where director nominations are made by shareholders of the company, subject to specified exceptions. The Advance Notice By-law will help to ensure that all shareholders receive adequate notice of the nominations to be considered at a meeting. The Advance Notice By-Law is effective immediately.
07:09 EDTVSTMVerastem names Daniel Paterson as COO, effective December 12
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07:09 EDTDNKNDunkin' Brands CEO says FY15 growth expectations below long-term targets
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07:08 EDTEBAYStubHub announces partnership with AudienceView
StubHub announced a brand new partnership with AudienceView, an e-commerce provider for entertainment organizations worldwide, to serve as a distribution channel for primary ticketed events. The partnership with AudienceView will add to StubHub’s existing supply in theater and performing arts, in addition to music, sports, and other forms of live entertainment. In turn, StubHub users can expect to find tickets to the broadest array of events anywhere online. Both companies expect the ticketing integration to be completed during the first quarter of 2015.
07:08 EDTTTPHTetraphase price target raised to $40 from $26 at Cantor
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07:08 EDTLNKDLinkedIn initiated with an Outperform at Wells Fargo
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07:07 EDTCGENCompugen enters into research collaboration with Johns Hopkins University
Compugen announced the initiation of a multi-year research collaboration with Johns Hopkins University, School of Medicine, under the direction of Prof. Drew Pardoll and Dr. Charles Drake. Prof. Pardoll and Dr. Drake, members of Compugen’s Scientific Advisory Board, are pioneers in the field of immuno-oncology. The collaboration will focus on further evaluation of selected novel B7/CD28-like immune checkpoint candidates discovered by Compugen for the potential treatment of cancer. This evaluation will include the candidates’ differentiation profile with respect to known checkpoints and their potential to serve either for monotherapy or in combination with other cancer treatments. This collaborative research will expand Compugen’s ongoing assessment of the biology and mechanism of actions of its novel B7/CD28-like immune checkpoint proteins, and provide access to the world-class immuno-oncology research tools and expertise at Johns Hopkins University. The specific studies under the collaboration will assist Compugen in further substantiating the potential of its novel proteins as targets for cancer immunotherapy. It is anticipated that the results of this collaboration will significantly broaden the underlying scientific knowledge of Compugen’s targets and will support their translation toward the clinic.
07:07 EDTUPSUPS agrees to terms with ORTIE to acquire Poltraf, terms not disclosed
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07:07 EDTACNAccenture cuts FY15 EPS view to $4.66-$4.80 from $4.74-$4.88
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07:06 EDTDNKNDunkin' Brands sees FY15 adjusted EPS $1.88-$1.91, consensus $2.02
Sees FY15 revenue growth 5%-7%, consensus $800.9M. Sees FY15 Dunkin' Donuts U.S. comparable store sales growth of 1 to 3 percent and Baskin-Robbins U.S. comparable store sales growth of 1%-3%. The company expects that Dunkin' Donuts U.S. will add between 410 and 440 net new restaurants and expects Baskin-Robbins U.S. will add between 5 and 10 net new restaurants. Internationally, the company is targeting opening 200 to 300 net new restaurants across the two brands. It expects net income of equity method investments to be approximately $13M. Globally, the company expects to open between 615 and 750 net new units.
07:06 EDTACNAccenture sees Q2 net revenue $7.25B-$7.5B, consensus $7.46B
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07:06 EDTCPXXCelator Pharmaceuticals granted European patent on nanoparticle technology
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07:05 EDTCRISCuris doses first patient in CUDC-907 Phase 1 trial
Curis announced that the first patient has initiated treatment with CUDC-907 in a Phase 1 clinical trial in patients with advanced or relapsed solid tumors, including hormone receptor positive/ HER2-negative breast cancer or midline carcinoma with certain NUT gene rearrangements. CUDC-907 is an oral, dual inhibitor of histone deacetylase, or HDAC, and phosphoinositide 3-kinase, or PI3K, enzymes that is currently under investigation in the first-in-human Phase 1 clinical study in patients with relapsed or refractory lymphomas and multiple myeloma.
07:05 EDTACNAccenture reports Q1 EPS $1.29, consensus $1.20
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07:04 EDTNKENike December volatility increases into Q2 and outlook
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07:04 EDTPNTRPointer Telocation initiated with a Buy at H.C. Wainwright
Target $11.
07:04 EDTKTOSKratos Defense receives $4.3M unmanned aerial drone system contract award
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07:04 EDTORCLOracle execution solid, results strong, says Cantor
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07:04 EDTRADRite Aid raises FY15 EPS view to 31c-37c, consensus 31c
Raises FY15 revenue view to $26.25B-$26.4B, consensus $26.43B. Raises FY15 SSS view to up 3.75%-4.25% over FY14. Previous FY15 EPS view was 22c-33c, FY15 revenue view was $26B-$26.3B. Sees FY15 adjusted EBITDA $1.275B-$1.305B, CapEx $525M.
07:03 EDTWBCWABCO initiated with an Outperform at RBC Capital
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07:03 EDTDNKNDunkin' Brands sees FY14 adjusted EPS $1.75-$1.76, consensus $1.76
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07:03 EDTSCHLScholastic reports Q2 adjusted EPS $2.17, one estimate $2.22
Reports Q2 revenue $665.6M, one estimate $636.40M.
07:03 EDTSKTTanger Factory downgraded to Hold from Buy at Stifel
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07:02 EDTRADRite Aid reports Q3 EPS 10c, consensus 5c
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07:01 EDTMDCO, SCLNThe Medicines Co., SciClone establish strategic partnership
The Medicines Company (MDCO) and SciClone Pharmaceuticals (SCLN) announced the establishment of a strategic partnership for two cardiovascular products in China. The partnership includes an agreement granting SciClone a license and the exclusive rights in China to promote two products of The Medicines Company: ANGIOMAX for Injection, an anticoagulant indicated in patients undergoing percutaneous coronary intervention with provisional use of glycoprotein IIb/IIIa inhibitor and in patients with, or at risk of, heparin-induced thrombocytopenia and thrombosis syndrome undergoing PCI. A Phase 3 registration trial was completed in China and is currently under review by the China Food and Drug Administration for marketing approval. CLEVIPREX Injectable Emulsion, a third-generation dihydropyridine calcium channel blocker indicated for the reduction of blood pressure when oral therapy is not feasible or desirable. The clinical trial application for China was filed in 2013. Under the terms of the agreement, SciClone will be responsible for all aspects of commercialization, including pre- and post-launch activities, for both products in the China market excluding Hong Kong and Macau. SciClone has also agreed to assist in the China registration process for both products. Financial terms of the agreement, in addition to net sales royalties payable to The Medicines Company, include the following additional payments to The Medicines Company: an upfront payment; a product support services fee; and regulatory/commercial success milestone payments of up to an aggregate of $50.5M.
07:01 EDTWDRWaddell & Reed raises quarterly dividend by 26.5% to 43c per share
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07:00 EDTN.Y. FX Outlook
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06:59 EDTKKRKKR acquisition of Samson is 'cautionary tale' of shale boom, WSJ says
KKR's acquisition of Samson Investment is in negative territory, driven by falling oil prices, and offers a "cautionary tale" of the U.S. shale market boom, reports the Wall Street Journal. Reference Link
06:58 EDTMRNSMarinus Pharmaceuticals coverage resumed with a Buy at Sterne Agee
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06:57 EDTORCLOracle consensus estimates to be revised lower, says JPMorgan
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06:53 EDTSPWHSportsman's Warehouse initiated with a Buy at CRT Capital
Target $9.
06:52 EDTCIOCity Office REIT initiated with a Buy at DA Davidson
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06:52 EDTCCLCarnival December volatility elevated into Q4 results and booking outlook
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06:52 EDTVALE, RIOVale attempt to dismiss Rio Tinto suit rejected, WSJ says
Vale's (VALE) attempt to have a lawsuit filed against it by Rio Tinto (RIO) was rejected by U.S. Southern District of New York Judge Richard M. Berman, reports the Wall Street Journal. Judge Berman also rejected Vale's argument that the case should be tried in an English court, the Journal adds. Reference Link
06:50 EDTGOLGOL Linhas upgraded to Buy from Neutral at BofA/Merrill
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06:50 EDTGOOG, MSFTGoogle to seek dismissal of Android antitrust lawsuit, Reuters reports
Google (GOOG) will try to convince a federal judge today to dismiss a lawsuit alleging that its practices related to its Android operating system violate antitrust laws, according to Reuters. The plaintiffs allege that Google forces handset makers to restrict competing apps such as Microsoft's (MSFT) search engine, Bing, the news service stated. Reference Link
06:50 EDTFX Update: The main dollar pairings mostly consolidated
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06:48 EDTAUAngloGold initiated with a Sector Perform at RBC Capital
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06:48 EDTZENZendesk initiated with an Outperform at JMP Securities
Target $30.
06:47 EDTIHSIHS Inc. downgraded to Underweight from Equal Weight at Morgan Stanley
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06:47 EDTTPCTutor Perini initiated with an Accumulate at Global Hunter
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06:47 EDTHILHill International initiated with a Speculative Buy at Global Hunter
Target $4.50.
06:45 EDTPTRYThe Pantry trading halted, pending news
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06:45 EDTRGPRegency Energy Partners files to sell $1B of common units
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06:44 EDTWWWWWeb.com called a top small cap pick for 2015 at Piper Jaffray
Piper Jaffray names Web.com a top small cap pick for 2015 saying it believes the company will end two consecutive quarters of disappointments when reporting December quarter results. Piper has an Overweight rating on the stock with a $25 price target.
06:44 EDTKKellogg raises bid for Egyptian snack maker, topping rival, Reuters says
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06:44 EDTRPAIRetail Properties of America downgraded to Hold from Buy at KeyBanc
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06:44 EDTRLJRLJ Lodging Trust downgraded to Hold from Buy at KeyBanc
06:43 EDTWBCWABCO initiated with an Outperform at RBC Capital
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06:42 EDTUHSUniversal Health initiated with a Neutral at Sterne Agee
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06:42 EDTHCAHCA Holdings initiated with a Buy at Sterne Agee
Target $96.
06:42 EDTNSLPNew Source Energy downgraded to Hold from Buy at Wunderlich
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06:42 EDTLPNTLifePoint initiated with a Buy at Sterne Agee
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06:42 EDTAMZNAmazon.com named a top pick for 2015 at Piper Jaffray
Piper Jaffray calls Amazon.com a top pick for 2015, saying it expects investors will become increasingly confident that the business will scale longer term. Piper reiterates an Overweight rating on the stock with a $400 price target.
06:41 EDTCYHCommunity Health initiated with a Buy at Sterne Agee
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06:41 EDTTHCTenet initiated with a Buy at Sterne Agee
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06:40 EDTDXLGDestination XL initiated with a Buy at CRT Capital
Target $6.
06:40 EDTJOYJoy Global upgraded to Neutral from Underperform at Longbow
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06:39 EDTAMRIAMRI initiated with an Equal-Weight at First Analysis
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06:38 EDTLYGU.K. says to reduce stake in Lloyds Banking, NY Times reports
The British government said it would cut its stake in U.K. bank Lloyds Banking (LYG) by gradually selling shares over the next six months, according to The New York Times. The government could begin selling shares soon, although the process may not kick off until 2015, the newspaper stated. Reference Link
06:38 EDTGOOGGoogle signs Karbonn to Android One project, 9to5Google reports
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06:37 EDTVOLCVolcano downgraded to Neutral from Buy at Roth Capital
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06:36 EDTRLGYRealogy downgraded to Neutral from Buy at Citigroup
Citigroup downgraded Realogy to Neutral citing a balanced risk/reward at current share levels. The firm keeps a $47.50 price target for the stock.
06:36 EDTMSFTMicrosoft may be planning head-worn gaming device for 2015, DigiTimes reports
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06:35 EDTKLXIKLX Inc initiated with a Neutral at DA Davidson
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06:35 EDTDBDeutsche Bank to examine strategy, may revise profit targets, Reuters reports
Deutsche Bank said it would examine its strategy next year, according to Reuters. The statement came after a business magazine said the bank was weighing major changes, possibly including revising its profit targets and selling its Postbank retail unit, the news service stated. Reference Link
06:35 EDTPTCTPTC Therapeutics initiated with a Buy at Citigroup
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06:34 EDTSAFMSanderson Farms reports Q4 EPS $4.04, consensus $4.01
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06:34 EDTHHyatt Hotels initiated with a Buy at Evercore ISI
Target $66.
06:34 EDTHLTHilton initiated with a Buy at Evercore ISI
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06:34 EDTHOTStarwood initiated with a Buy at Evercore ISI
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06:34 EDTIDTIIntegrated Device shipped over 100M PCIe buffers, 3M low-power PCIe Gen3 buffers
Integrated Device announced that it has shipped over 100M PCIe buffers and over 3M low-power PCIe Gen3 buffers, cementing its role as a key enabling and validation partner of leading x86 and ARM-based CPU and chipset suppliers. IDT’s low-power PCIe Gen3 buffers apply IDT’s long-proven, patented, low-power HCSL technology to address three major customer concerns. The buffers reduce operating costs, save board space, and support longer PCIe connection topologies.
06:34 EDTMARMarriott initiated with a Hold at Evercore ISI
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06:33 EDTICPTIntercept coverage resumed with a Buy at Sterne Agee
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06:33 EDTAGRXAgile Therapeutics coverage resumed with a Buy at Sterne Agee
Target $17.
06:33 EDTNPSPNPS Pharmaceuticals coverage resumed with a Neutral at Sterne Agee
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06:33 EDTTERTeradyne downgraded to Neutral from Buy at Citigroup
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06:32 EDTBABoeing's jet deliveries to rise about 5% in 2014, Reuters reports
Boeing will deliver a record 754 commercial jets next year, up around 5% versus this year, the U.S. Aerospace Industries Association forecast, according to Reuters. The organization said its forecast was based on information from Boeing, the news service added. Reference Link
06:32 EDTLRCXLam Research upgraded to Buy from Neutral at Citigroup
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06:31 EDTWSMWilliams-Sonoma upgraded to Conviction Buy from Neutral at Goldman
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06:30 EDTAMATApplied Materials added to Focus List with $36 target at Citigroup
Citigroup added Applied Materials to its Focus List and raised its price target for shares to $36 from $26. Citi says it has increased confidence in the Tokyo Electron merger closing in the first half of 2015, which it believes will unlock $2.50 per share in combined earnings power in 2016. The firm keeps a Buy rating on AMAT.
06:27 EDTAMGNAmgen's new leukemia drug to cost $178,000, Reuters reports
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06:27 EDTBLCMBellicum Pharmaceuticals 7.35M share IPO priced at $19.00
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06:27 EDTGLWCorning upgraded to Buy from Neutral at Citigroup
Citigroup upgraded Corning to Buy on expectations TV demand will pick up over the next few years as consumers upgrade their first flat panel TV to the latest technology. Citi raised its price target for shares to $25 from $21.
06:27 EDTABB, RDS.A, RDS.BABB board proposes Peter Voser as new chairman
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06:25 EDTFTIFMC Technologies downgraded to Sector Perform from Outperform at RBC Capital
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06:25 EDTXLNXXilinx initiated with a Neutral at Citigroup
Target $43.
06:24 EDTTXNTexas Instruments initiated with a Buy at Citigroup
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06:24 EDTFIFrank's International downgraded to Sector Perform at RBC Capital
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06:24 EDTMXIMMaxim Integrated downgraded to Neutral from Buy at Citigroup
Citigroup downgraded Maxim Integrated to Neutral after assuming coverage of the stock citing the company's dependence on its largest customer, Samsung. Citi notes Samsung is having problems with its cell phone business. It lowered its price target for Maxim shares to $30 from $33.
06:22 EDTOISOil States downgraded to Sector Perform from Outperform at RBC Capital
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06:22 EDTWENWendy's says Brandon Solano to succeed Bahner as Chief Marketing Officer
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06:21 EDTMCHPMicrochip assumed with a Buy at Citigroup
Price target raised to $58 from $51.
06:21 EDTBRKRBruker downgraded to Sell from Neutral at Goldman
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06:21 EDTHOLXHologic upgraded to Conviction Buy from Buy at Goldman
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06:21 EDTQGENQIAGEN downgraded to Sell from Neutral at Goldman
Goldman downgraded QIAGEN to Sell based on a mixed growth outlook for new products and the dilutive impact on the core franchise value from M&A. Price target lowered to $19 from $21.
06:19 EDTCVXChevron halts plants to drill for oil in Arctic waters 'indefinitely,' WSJ says
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06:18 EDTLLTCLinear Technology downgraded to Sell from Neutral at Citigroup
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06:18 EDTRDHL, DGXRedHill Biopharma acquires techonology from University of Minnesota
RedHill Biopharma (RDHL) has entered into a license agreement with the University of Minnesota to acquire the rights to a patented technology to support the development of a commercial diagnostic test for detection of Mycobacterium avium subspecies paratuberculosis bacterium. RedHill's Crohn's disease program RHB-104, currently undergoing a first Phase III study, is based on evidence that Crohn's disease is caused by MAP infection in susceptible patients. As part of development for RHB-104, RedHill is developing, in collaboration with Quest Diagnostics (DGX), a diagnostic test to aid in detecting the presence of MAP in whole blood. RedHill will pay the University of Minnesota a one-time upfront payment and an additional potential milestone payment for the licensed technology. A pre-submission meeting with the FDA to discuss the development path for the diagnostic test is scheduled for January 2015.
06:17 EDTICEIntercontinentalExchange wants to revamp U.S. stock market, WSJ reports
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06:17 EDTSPNSuperior Energy upgraded to Outperform from Sector Perform at RBC Capital
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06:17 EDTHALHalliburton upgraded to Outperform from Sector Perform at RBC Capital
06:16 EDTBHIBaker Hughes upgraded to Outperform from Sector Perform at RBC Capital
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06:16 EDTINTCIntel initiated with a Neutral at Citigroup
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06:15 EDTSGYPSynergy Pharmaceuticals initiates Phase 3 trial for irritable bowel syndrome
Synergy Pharmaceuticals Inc. initiated the first of two planned pivotal phase 3 clinical trials evaluating the safety and efficacy of 3.0 and 6.0 mg plecanatide, once-daily oral tablets, for the treatment of irritable bowel syndrome with constipation. Synergy is also evaluating 3.0 and 6.0 mg doses of plecanatide in two ongoing pivotal phase 3 trials for chronic idiopathic constipation, scheduled to read out top-line results in Q2 and Q3 2015. The pivotal phase 3 trial is expected to enroll approximately 1050 adult patients with IBS-C. The primary efficacy endpoint for this trial is the percentage of patients who are Overall Responders during the 12 week treatment period. Synergy plans to initiate the second pivotal phase 3 IBS-C trial with plecanatide in 1H15.
06:14 EDTAMDAMD initiated with a Sell at Citigroup
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06:14 EDTRBYRubicon Minerals begins stockpiling mill feed for projected production
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06:13 EDTEBAY, FBKey PayPal executive leaves for Facebook, WSJ reports
PayPal’s VP of growth and global strategy, Stan Chudnovsky, is leaving the company ahead of its planned spinoff from eBay (EBAY), The Wall Street Journal reports. Chudnovsky is set to join Facebook (FB) as its head of product management for messaging products. Reference Link
06:12 EDTALTRAltera initiated with a Neutral at Citigroup
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06:11 EDTADIAnalog Devices assumed with a Neutral at Citigroup
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06:11 EDTTGDTimmins Gold to purchase Caballo Blanco project for $10M in cash, 16.07M shares
Timmins Gold announced that it has entered into an Asset Purchase Agreement with Goldgroup Mining to purchase 100% of the Caballo Blanco Gold Project, a gold development project in Veracruz State, Mexico for total consideration of $10M in cash and 16.07M Timmins Gold shares. The transaction will be immediately accretive to Net Asset Value, or NAV, and mineral resources and is expected to be accretive to operating cash flow, EBITDA and other key operational metrics once in operation based on current gold prices. The proposed project is a Mexican open pit/heap leach operation similar to the San Francisco mine, providing opportunity to leverage past success in permitting, building and operations. Will significantly grow current resource base with the addition of 575,000 ounces of gold indicated and 419,000 oz Au inferred mineral resource along with potential for meaningful exploration near existing resources and within a sizeable, underexplored land package. When added to the company's current production, the projected production from the project would nearly double Timmins Gold's annual production to over 220,000 oz Au with the addition of approx. 90,000 oz Au at a projected cash cost of $784 per ounce and moves operating profile in line with other mid-tier producers.
06:10 EDTBT, TEF, ORANBT Group prepping 'giant' financing package to fund EE takeover, Telegraph says
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06:10 EDTIOCInterOil initiated with a Buy at Goldman
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06:09 EDTORAN, ILIAFApax sells Orange Switzerland to Xavier Niel for CHF 2.8B
Funds advised by Apax Partners announced that they have agreed to sell Orange Switzerland to NJJ Capital, Xavier Niel’s private holding company, for a total transaction value of CHF 2.8B. The transaction is subject to customary regulatory approval and expected to complete by the end of Q1. Apax has controlled Orange Switzerland since 2012 after buying the company from Orange SA (ORAN). Xavier Niel is Deputy CEO of Iliad (ILIAF).
06:09 EDTINOInovio inititates DNA immunotherapy trial for several types of cancer
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06:07 EDTCDECoeur Mining upgraded to Outperform from Market Perform at Cowen
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06:07 EDTCPHDCepheid upgraded to Buy from Neutral at BofA/Merrill
06:06 EDTLSGLake Shore Gold sees 2015 production 170K-180K ounces of gold
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06:05 EDTFEYEFireEye implied volatility of 55 at lower end of index mean range
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06:05 EDTOIIOceaneering downgraded to Sector Perform from Outperform at RBC Capital
06:04 EDTKEGKey Energy upgraded to Outperform from Sector Perform at RBC Capital
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06:04 EDTAAAlcoa implied volatility of 48 at upper end of index mean range
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06:04 EDTAPPAmerican Apparel could become takeover candidate, LA Times reports
American Apparel recently terminated former president and CEO Dov Charney for cause, and now rumors are swirling that the apparel company could become a takeover candidate, The LA Times reports, adding that new CEO Paula Schneider could "lift the retailer out of doldrums," or a buyer could make an offer. Schneider says she will soon decide on a strategy to turn around the company. Reference Link
06:03 EDTGDX, TLMStocks with implied volatility below IV index mean; GDX TLM
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06:03 EDTMACMacerich downgraded to Neutral from Buy at MLV & Co.
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06:03 EDTPOWLPowell announces $25M share repurchase program
Powell Industries announced that its board has authorized the repurchase of up to $25M in shares of the company's common stock. The share repurchase program will expire on December 31, 2015.
06:02 EDTCMRXChimerix and ContraVir Pharma partner for antiviral drug candidate
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06:01 EDTRAD, CXStocks with implied volatility above IV index mean; CX RAD
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06:01 EDTBLOXInfoblox upgraded to Outperform from Sector Perform at Pacific Crest
06:00 EDTORCLOracle guidance in-line with factoring in currency, says Jefferies
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06:00 EDTEBAYeBay's Christopher Payne set to leave company, sources say, Re/code reports
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06:00 EDTDO, ACHNStocks with implied volatility movement; DO ACHN
Stocks with implied volatility movement; Diamond Offshore (DO) 93, Achillion (ACHN) 285 according to iVolatility.
05:58 EDTOn The Fly: Morning Wrap-Up for December 18
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05:56 EDTXLFFinancial Select Sector overall volatility at 18, 26-week average is 15
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05:56 EDTIWMRussell 2000 overall implied volatility at 21; 26-week average is 16
05:56 EDTSLViShares Silver Trust overall implied volatility at 34; 26-week average is 24
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05:56 EDTGLDSPDR Gold Trust overall implied volatility at 19; 26-week average is 17
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05:56 EDTVXXiPath S&P 500 VIX Short-Term Futures at 29.55, 50-day moving average is 30.93
05:55 EDTQSRRestaurant Brands initiated with a Neutral at UBS
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05:54 EDTDecember front month equity options last day to trade is December 19, 2014
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05:53 EDTMGM, CLFStocks with implied volatility movement; MGM CLF
Stocks with implied volatility movement; MGM Resorts (MGM) 46, Cliffs Natural (CLF) 110 according to iVolatility.
05:50 EDTSWIRSierra Wireless initiated with a Hold at Jefferies
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05:50 EDTAMZNAmazon.com introduces Prime Now
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05:50 EDTCPSCooper-Standard initiated with a Buy at Jefferies
Target $64.
05:49 EDTALLTAllot Communications initiated with a Hold at Jefferies
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05:49 EDTCRNTCeragon Networks initiated with a Hold at Jefferies
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05:47 EDTRCAPRCS Capital resumed with an Overweight at Barclays
Target $20.
05:46 EDTPSECProspect Capital downgraded to Equal Weight from Overweight at Barclays
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05:45 EDTARCCAres Capital upgraded to Overweight from Equal Weight at Barclays
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05:44 EDTRDS.A, RDS.BShell agrees to sell downstream business in Norway to ST1
Shell (RDS.A, RDS.B) has signed an agreement with ST1 for the sale of its retail, commercial fuels and supply and distribution logistics businesses in Norway. In addition, Shell's aviation business in Norway will become a 50-50 joint venture with ST1. The sale is subject to regulatory approval and is expected to be completed in 2015. The transaction includes a Retail Brand Licence Agreement which will ensure that Shell's brand remains highly visible in Norway and that high-quality Shell fuels and lubricants products, and the euroShell loyalty card scheme, will continue to be available to customers in the country. The deal will have no impact on Shell's other businesses in Norway - Shell Energy Europe, Gasnor and Upstream, and Shell lubricants will continue to be sold via a macro distributor.
05:43 EDTFDXFedEx upgraded to Conviction Buy from Neutral at Goldman
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05:37 EDTTYCTyco upgraded to Buy from Neutral at Goldman
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05:34 EDTFOSLFossil initiated with a Neutral at Goldman
Goldman Sachs started shares of Fossil with a Neutral rating citing slowing business momentum and new competition from smart watches. The firm has a 6-month price target of $113.
05:32 EDTSAMBoston Beer initiated with a Buy at Nomura
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05:31 EDTVOLVYVolvo reports Nov. truck deliveries down 10% to 18,224 vehicles
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05:24 EDTGSOLGlobal Sources renews contract to host trade shows at AWE for $23.2M
Global Sources has renewed its contract to host its highly successful trade shows at AsiaWorld-Expo, or AWE, in Hong Kong in 2017 and 2018 for approximately $23.1M. The company will retain the right to host its events twice a year -- in April and October -- at AWE.
05:17 EDTPAAPlains All American announces normal course issuer bid
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05:16 EDTCMECME Group announces change to daily price limits in CME feeder cattle
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05:14 EDTFFNWFirst Financial Northwest adopts stock repurchase plan
First Financial Northwest announced that on December 16, the company's board adopted a pre-arranged stock trading plan for the purpose of repurchasing a limited number of shares of the company's common stock in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934. This plan has been established in accordance with, and as a part of, the company's stock repurchase program previously announced on October 23. Rule 10b5-1 allows a company to adopt a written, pre-arranged stock trading plan at a time when it does not have material, non-public information and avoid concerns about whether it had material, non-public information at the time of the repurchase transactions pursuant to the plan.
05:08 EDTENBEnbridge reports crude oil release at Regina Terminal
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02:15 EDTFX Update: The dollar has traded higher
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10:25 EDTZ, TRLA, Z, TRLATrulia to host special shareholder meeting
Special shareholder meeting to approve the merger agreement with Zillow will be held in Seattle, Washington on December 18 at 11 am.
10:25 EDTTRLA, Z, TRLA, ZZillow to host special shareholder meeting
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04:55 EDTMACK, MACKMerrimack to host analyst day
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08:25 EDTDeutsche Bank Russian strategist/economist analyst/industry conference call
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08:25 EDTDeutsche Bank Russian strategist/economist analyst/industry conference call
EMEA Economist Burgess, along with Chief Russian Strategist Pikulev, discuss their thoughts and trades on Russia on an Analyst/Industry conference call to be held on December 18 at 9 am.
04:55 EDTAET, ANTM, CI, CNC, CYH, HCA, HNT, HUM, LPNT, MGLN, MOH, THC, UAM, UHS, UNH, WCG, AET, ANTM, CI, CNC, CYH, HCA, HNT, HUM, LPNT, MGLN, MOH, THC, UAM, UHS, UNH, WCGLeerink healthcare services analyst holds analyst/industry conference call
Healthcare Services Analyst Gupte provides outlook and favorite names for 2015 in the Hospitals and Managed Care Industry on an Analyst/Industry conference call to be held on December 18 at 1 pm.
09:25 EDTJPMorgan insurance analysts hold analyst/industry conference call
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09:55 EDTCCE, CCECoca-Cola Enterprises to hold a conference call
Management holds a conference call to provide 2015 outlook will be held on December 18 at 10 am. Webcast Link
04:55 EDTBWSBrown Shoe management to meet with Buckingham
Meeting to be held in Kansas City on December 18 hosted by Buckingham.
05:55 EDTAGNAllergan to host special shareholder meeting
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04:55 EDTAINAlbany International management to meet with Sidoti
Meetings to be held in Connecticut on December 17 and in the Mid-Atlantic area on December 18 hosted by Sidoti.
04:55 EDTFRMFurmanite management to meet with Sidoti
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04:55 EDTPEParsley Energy management to meet with Stephens
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04:55 EDTSHORShoreTel management to meet with Craig-Hallum
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04:55 EDTMCKMcKesson management to meet with FBR Capital
Field trip to company headquarters to be held in San Francisco on December 18 hosted by FBR Capital.
14:25 EDTPSECProspect Capital to host business news update conference call
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04:55 EDTSUMRSummer Infant management to meet with Roth Capital
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04:55 EDTXOXOXO Group management to meet with B. Riley
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04:55 EDTARRSARRIS management to meet with Brean Capital
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04:55 EDTNUVAStifel to hold a bus tour
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04:55 EDTTHRMGentherm management to meet with JPMorgan
Meeting to be held in Baltimore on December 18 hosted by JPMorgan.
04:55 EDTBNPQYBNP Paribas management to meet with JPMorgan
Meetings to be held in Florida on December 15, in Des Moines/Kansas City on December 16, in Minneapolis on December 17 and in Canada/Seattle December 18 hosted by JPMorgan.
04:55 EDTPhiladelphia Fed Survey General Business Conditions Index to be reported at 10:00
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09:45 EDTLeading Indicators to be reported at 10:00
November Leading Indicators will be reported at 10:00 . Current consensus is 0.6% for the month
09:30 EDTPMI Services Flash Level to be reported at 09:45
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04:55 EDTNVDANVIDIA management to meet with Wedbush
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04:55 EDTKKDKrispy Kreme management to meet with Wedbush
Meeting with CEO Thompson and CFO Muir will be held in Chicago on December 18 hosted by Wedbush.
04:55 EDTBCBrunswick management to meet with Wedbush
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04:55 EDTRAXRackspace management to meet with William Blair
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04:55 EDTFDXFedEx management to meet with
Meeting to be held in Florida on December 18 hosted by William Blair.
04:55 EDTEXASExact Sciences management to meet with William Blair
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04:55 EDTKFYKorn/Ferry management to meet with Piper Jaffray
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04:55 EDTGLWCorning management to meet with Jefferies
Meeting to be held in Boston on December 18 hosted by Jefferies.
04:55 EDTSREVServiceSource management to meet with JMP Securities
Meetings to be held in Los Angeles on December 17 and in San Francisco on December 18 hosted by JMP Securities.
04:55 EDTSBNYSignature Bank management to meet with Sterne Agee
Meeting to be held in Kansas City on December 17 and in Houston on December 18 hosted by Sterne Agee.
04:55 EDTMXLMaxLinear management to meet with JMP Securities
Meetings to be held in New York on December 17 and in the Mid-Atlantic area on December 18 hosted by JMP Securities.
04:55 EDTTYLTyler Technologies management to meet with Maxim
Meetings to be held in San Diego/Los Angeles on December 18 hosted by Maxim.
04:55 EDTHONHoneywell management to meet with Oppenheimer
Meeting to be held in New York on December 18 hosted by Oppenheimer.
04:55 EDTBGCGeneral Cable management to meet with BB&T
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04:55 EDTAXGNAxoGen management to meet with Lake Street
Meetings to be held in Minneapolis on December 17 and in San Francisco on December 18 hosted by Lake Street.
04:55 EDTMDXGMiMedx management to meet with Needham
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04:55 EDTELLIEllie Mae management to meet with Needham
Meetings to be held in San Diego/Los Angeles on December 18 hosted by Needham.
04:55 EDTKEYWKEYW management to meet with SunTrust
Meetings to be held on the West Coast December 15-18 hosted by SunTrust.
10:45 EDT 6-Month Bill Announcement to be released at 11:00
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10:45 EDT 3-Month Bill Announcement to be released at 11:00
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04:55 EDTWeek of 12/8 Money Supply to be released at 16:30
16:15 EDTWeek of 12/17 Fed Balance Sheet to be released at 16:30
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10:15 EDTWeek of 12/12 EIA Natural Gas Report to be released at 10:30
04:55 EDTJobless Claims to be reported at 08:30
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04:55 EDTDecember PMI Services Flash to be released at 09:45
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09:30 EDTWeek of 12/14 Bloomberg Consumer Comfort Index to be released at 09:45
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