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Morning Market Movers

Courtesy of Benzinga.

Related MOVE
Benzinga's Top #PreMarket Gainers
US Stock Futures Surge Ahead Of Walgreen Earnings, Economic Data

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Move (NASDAQ: MOVE) shares jumped 36.89% to $20.93 after the company agreed to be acquired by News Corp (NASDAQ: NWSA) for $21 per share, or $950 million.

ChinaNet Online Holdings (NASDAQ: CNET) climbed 18.44% to $3.79 as Liansuo subsidiary signed 12 new clients.

Catalyst Pharmaceutical Partners (NASDAQ: CPRX) shares climbed 13.71% to $3.40 after the company reported positive top-line Phase 3 data from pivotal Firdapse clinical trial.

Teekay (NYSE: TK) shares gained 12.98% to $65.94 after the company announced its plans to increase dividend by 75%-80%.

Vimicro International (NASDAQ: VIMC) shares increased 12.39% to $10.27 after the company announced a $12.4 million contract win in Taiyuan City of Shanxi Province. The company’s joint venture, Shanxi Zhongtianxin Science and Technology Co, secured a $65 million revolving line of credit.

eBay (NASDAQ: EBAY) shares gained 7.35% to $56.53 after the company announced its plans to separate eBay and PayPal into two publicly traded companies in 2015.

SYNNEX (NYSE: SNX) gained 7.16% to $66.64 after the company reported stronger-than-expected Q3 earnings and announced the initiation of $0.125 per share quarterly dividend.

JAKKS Pacific (NASDAQ: JAKK) gained 5.22% to $7.25 after rising 2.38% on Monday.

Ceragon Networks (NASDAQ: CRNT) shares rose 4.93% to $2.34 after the company reported that it has received follow-on orders from a global Tier 1 operator serving 20 countries across Asia and Africa.

Ballard Power Systems (NASDAQ: BLDP) shares rose 3.14% to $3.28 after the company reported that it has received a ElectraGen fuel cell system order for deployments in Digicel network.

Walgreen Co (NYSE: WAG) climbed 2.06% to $60.83 after the company reported in-line profit for the fourth quarter.

Posted-In: Morning Market MoversNews Intraday Update Markets Movers





#PreMarket Primer: Tuesday, September 30: Hong Kong Protests Continue Despite Efforts To Disperse

Courtesy of Benzinga.

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Benzinga Weekly Preview: Geopolitical Tension, Economic Data To Drive Markets
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#PreMarket Primer: Monday, September 29: Protesters Vow To Continue Fighting For Democracy In Hong Kong
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Protesters in Hong Kong extended the blockade on Tuesday and prepared for the return of riot police as Chinese National Day approached.

Over the weekend, police attempted to clear the protesters using pepper spray and tear gas before withdrawing on Monday.

The government asked protesters to disperse peacefully, but instead the tens of thousands of people began to stockpile supplies and create more barricades, indicating that their fight for full democracy was far from over.

Top News

In news around the markets:

Data Show Increased U.S. Spending

Consumer spending data out on Monday suggested that the U.S. economy is set to grow steadily in the third quarter. The report showed that U.S. household spending increased by 0.5 percent from July to August, and that spending was up 4.1 percent from last year’s figures. The figures fall in line with most economists expectations for solid U.S. GDP growth in the third quarter.

Ukrainian Ceasefire Under Pressure

The ceasefire in Ukraine faced more challenges after the Ukrainian military announced that separatist rebels’ fire in Donetsk killed seven soldiers. The fighting took place near the Donetsk airport, the only part of the city still held by nationalist forces, and served as a reminder that the Ukrainian conflict is not yet over.

Albertsons Supermarkets Suffer From Data Breach

AB Acquisition LLC announced that customer data from some of its Albertsons supermarkets may have been compromised due to a hacking incident. Now, investigators are looking into the issues for more detail about the depth of the attack, but the incident is believed to have taken place between late…
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UPDATE: Credit Suisse Reiterates On Frank's International NV On Revised Valuation Parameters

Courtesy of Benzinga.

Related FI
Benzinga's Top Initiations
Jefferies Initiates Frank's International With Hold

In a report published Tuesday, Credit Suisse analyst James Wicklund reiterated a Neutral rating on Frank’s International NV (NYSE: FI), but lowered the price target from $24.00 to $22.00.

In the report, Credit Suisse noted, “This piece is intended to clarify the valuation of Frank’s to take into account the minority interest ownership of the family private partnership. While it has no impact on the P/E valuation, it does impact the EV/EBITDA valuation – the primary metric typically used in the OFS sector.”

Frank’s International NV closed on Monday at $19.28.

Latest Ratings for FI

Date Firm Action From To
Sep 2014 KeyBanc Initiates Coverage on Buy
Sep 2014 FBR Capital Maintains Outperform
Aug 2014 Goldman Sachs Upgrades Sell Neutral

View More Analyst Ratings for FI
View the Latest Analyst Ratings

Posted-In: Credit Suisse James WicklundAnalyst Color Price Target Analyst Ratings





UPDATE: Stifel Initiates Coverage On Atlas Resource Partners, L.P. On Positive Outlook

Courtesy of Benzinga.

Related ARP
Atlas Resource Partners To Enter Eagle Ford Shale Through Acquisition Of Oil Rich Production And Undeveloped Locations
Atlas Resource Partners, L.P. Increases Monthly Distribution To $0.1966 For June 2014

In a report published Monday, Stifel analyst Brian Brungardt Jr. initiated coverage on Atlas Resource Partners, L.P. (NYSE: ARP) with a Buy rating and $22.00 price target.

In the report, Stifel noted, “We are initiating coverage of Atlas Resource Partners LP (ARP) with a Buy rating and a $22 target price. With the recent acquisition of Eagle Ford assets and secured financing, we believe unitholders stand to benefit from a growing organic project backlog and diversified geographic footprint. By funding the acquisition through a mix of newly issued Class D preferreds and use of its credit revolver, we believe unitholders stand to benefit from an improving DPU coverage ratio in 4Q14 and into FY15.”

Atlas Resource Partners, L.P. closed on Friday at $19.08.

Latest Ratings for ARP

Date Firm Action From To
Sep 2014 Stifel Nicolaus Initiates Coverage on Buy
May 2014 JP Morgan Maintains Neutral
May 2014 Bank of America Reinstates Neutral

View More Analyst Ratings for ARP
View the Latest Analyst Ratings

Posted-In: Brian Brungardt Jr. StifelAnalyst Color Initiation Analyst Ratings





Stifel Nicolaus Initiates LRR Energy At Buy

Courtesy of Benzinga.

Related LRE
Why LRR Energy (LRE) Stock Might be a Great Pick – Tale of the Tape
Earnings Scheduled For March 5, 2014

Analysts at Stifel Nicolaus initiated coverage on LRR Energy, L.P. (NYSE: LRE) with a Buy rating.

The target price for LRR Energy is set to $18.50.

LRR Energy shares have jumped 11.05% over the past 52 weeks, while the S&P 500 index has gained 17.21% in the same period.

LRR Energy’s shares rose 1.73% to close at $17.69 on Friday.

Latest Ratings for LRE

Date Firm Action From To
Sep 2014 Stifel Nicolaus Initiates Coverage on Buy
Aug 2014 Wells Fargo Upgrades Market Perform Outperform
Aug 2014 Wells Fargo Downgrades Outperform Market Perform

View More Analyst Ratings for LRE
View the Latest Analyst Ratings

Posted-In: Stifel NicolausInitiation Analyst Ratings





FBN Securities Thinks GoPro Inc Has More Room To Go

Courtesy of Benzinga.

In a note Monday morning, FBN Securities analyst Shebly Seyrafi maintained his Outperform rating and upped his price target on shares of GoPro Inc (NASDAQ: GPRO) from $70 to $90. This follows the announcement Monday of the new HERO4 and entry level HERO capture devices by GoPro.

Seyrafi feels the company's introduction of the entry-level HERO at a $129 MSRP will allow HERO to better sell into the mass market, while also allowing for upgrade opportunities over time. He also expects strong sales of the new HERO4 Black, with the higher end models accounting for the majority of the revenues.

Seyrafi had initiated coverage oon September 8. Since then, shares of rose 30.4 percent, moving from $58.75 to $89.15.

Shares of GoPro traded recently at $87.09, up 6 percent on the day.

Latest Ratings for GPRO

Date Firm Action From To
Sep 2014 FBN Securities Maintains Outperform
Sep 2014 Piper Jaffray Maintains Overweight
Sep 2014 JP Morgan Maintains Neutral

View More Analyst Ratings for GPRO
View the Latest Analyst Ratings

Posted-In: FBN Securities Shebly SeyrafiNews Price Target Reiteration Analyst Ratings





Micron Technology, Inc. Benefits From Industry Consolidation, Analysts Say

Courtesy of Benzinga.

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Micron Technology, Inc. (NASDAQ: MU) may be gaining stability from and industry consolidation among computer chip makers, an analyst said Friday.

Micron shares rose sharply after missing fiscal first-quarter Street views but forecasting sales of its dynamic random-access memory chips well above expectations.

“Limited industry supply growth is driving less price volatility,” Deutsche Bank’s Sidney Ho said in a note reiterating a Buy rating and $40 target.

Related Link: What Do ‘The Secret Goldman Sachs Tapes’ Say?

The company forecast that sales growth for its DRAM chips will increase in the “low single-digits,” well above the decline of 5 percent to 10 percent many analysts expected.

Profit margins for the segment ticked up slightly and Ho sees room for further widening.

“Bears have consistently worried about falling DRAM prices,” Jefferies’ Sundeep Bajikar said in a note. But Bajikar sees a “permanent change” in the industry stemming from consolidation as well as slowing technological progress.

Pacific Crest’s Monika Garg cautioned, however, that that margins for the segment “could be at risk” with prospects for expanded manufacturing capacity at competitors Samsung and Hynix.

Garg reiterated a Sector Perform rating and noted that capital spending budgets among Micron’s competitors are double the size seen in a 2012 trough.

Latest Ratings for MU

Date Firm Action From To
Sep 2014 Stifel Nicolaus Maintains Buy
Jun 2014 Macquarie Maintains Neutral
Jun 2014 Needham Upgrades Buy Strong Buy

View More Analyst Ratings for MU
View the Latest Analyst Ratings

Posted-In: Deutsche Bank Jefferie Monika Garg Pacific CrestAnalyst Color Price Target Reiteration Analyst Ratings Best of Benzinga





Morning Market Movers

Courtesy of Benzinga.

Related JNS
Bill Gross Issues Statement on Joining of Janus
Janus Capital Group (JNS): Strong Industry, Solid Earnings Estimate Revisions – Tale of the Tape
Bill Gross Leaves Pimco for Janus Capital (Fox Business)

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Janus Capital Group (NYSE: JNS) shares jumped 36.36% to $15.15 following news that Bill Gross will be joining the company.

Digital Ally (NASDAQ: DGLY) shares surged 18.37% to $17.85 after the company 8:28 am received an order from US Military police for FirstVu HD body cameras linked to DVM-800 in-car video systems.

Natural Alternatives International (NASDAQ: NAII) rose 11.37% to $5.78 after the company reported net income of $2.0 million on net sales of $73.9 million for the fiscal year ended June 30, 2014.

CMS Bancorp (NASDAQ: CMSB) shares climbed 10.73% to $12.70. Putnam County Savings Bank and CMS Bancorp announced the execution of merger agreement.

Nike (NYSE: NKE) shares gained 10.46% to $88.09 after the company reported stronger-than-expected fiscal first-quarter results. Analysts at Janney Capital upgraded Nike from Neutral to Buy.

AirMedia Group (NASDAQ: AMCN) rose 9.47% to $1.85. AirMedia has been granted concession to provide Wi-Fi services on high speed trains operated by Shanghai Railway Bureau.

Repros Therapeutics (NASDAQ: RPRX) shares climbed 9.14% to $9.78 following the announcement that Androxal ZA-304 study has met primary endpoint.

Diamond Foods (NASDAQ: DMND) rose 7.51% to $28.62 after the company reported fiscal fourth-quarter results.

Micron Technology (NASDAQ: MU) shares gained 7.07% to $33.94 after the company posted better-than-expected fiscal fourth-quarter results and issued a strong revenue forecast for the fiscal first quarter.

Progress Software (NASDAQ: PRGS) shares surged 4.92% to $24.29 after the company reported upbeat earnings for the third quarter and issued a strong outlook.

Posted-In: market moversNews Intraday Update Markets Movers





Bill Gross Issues Statement on Joining of Janus

Courtesy of Benzinga.

Related JNS
Janus Capital Group (JNS): Strong Industry, Solid Earnings Estimate Revisions – Tale of the Tape
Janus Capital Keeps Lowering Outflows – Analyst Blog
Bill Gross Leaves Pimco for Janus Capital (Fox Business)

“For most of my career, I have been privileged to be associated with one of the most successful investment management firms ever — Pacific Investment Management Company (PIMCO). Today, with a mixture of excitement and sadness, I am announcing that I have decided to join Janus Capital Group and end my association with PIMCO. It was not without great thought and deliberation over quite some time that I decided to begin this next chapter. During my time at PIMCO we accomplished a great deal, managing now over 2 trillion dollars of global assets with a track record of very significant value added that has generated tens of billions of dollars to individual, corporate, and sovereign client portfolios. But now, after having spent considerable time serving in senior management, it is a time for me to reduce executive and people management responsibilities at a larger firm and focus on the pure aspects of portfolio management at a smaller one. Janus is the right fit at the right time in my career – and my life.

I am honored to be welcomed by Janus Capital Group, which is headed by former PIMCO managing director/COO Dick Weil. At Janus, in a new Newport Beach office, a simpler yet still intense career lies ahead of me to be able to assist individuals and other investors in their needs for above market returns in an increasingly risky market environment. In particular, I greatly respect the fixed income investment philosophy of Janus, which is consistent with my belief: value added consistent with the protection of principal.

I have been fortunate to have had a great run at PIMCO, and I am looking forward to be able to continue this run with Janus.

I sincerely wish all of my friends and associates at PIMCO much future success. It has been an honor to have worked at PIMCO these many years.”

Posted-In: News Management Hot Press Releases





UPDATE: KLR Group Upgrades Cabot Oil & Gas Corporation Following Eagle Ford Acquisition

Courtesy of Benzinga.

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KLR Group Upgrades Cabot Oil & Gas To Buy
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In a report published Friday, KLR Group analyst John Gerdes upgraded the rating on Cabot Oil & Gas Corporation (NYSE: COG) from Accumulate to Buy, and raised the price target from $42.00 to $44.00.

In the report, KLR Group noted, “We are upgrading COG from Accumulate to Buy and increasing our target price $2 to $44 per share driven by the recent Eagle Ford acquisition and corresponding increase in activity. Our target price now reflects ~40% upside and thus merits an upgrade. Our ’15 production growth expectation of ~27% is in the upper half of company guidance (20%-30%).”

Cabot Oil & Gas Corporation closed on Thursday at $31.43.

Latest Ratings for COG

Date Firm Action From To
Sep 2014 KLR Group Upgrades Accumulate Buy
Sep 2014 Simmons & Co. Downgrades Overweight Neutral
Sep 2014 Stifel Nicolaus Upgrades Hold Buy

View More Analyst Ratings for COG
View the Latest Analyst Ratings

Posted-In: John Gerdes KLR GroupAnalyst Color Upgrades Analyst Ratings





 

Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at jennifersurovy@yahoo.com with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

http://www.youcaring.com/medical-fundraiser/help-get-shadowfax-out-from-the-darkness-of-medical-bills-/126743

Thank you for you time!

 
 

Phil's Favorites

You can't even spell "capitulation"

You can’t even spell “capitulation”

Courtesy of 

People are starting to freak out a little.

A massive amount of individual stocks have dropped more than 20 percent from their 52-week highs this fall and this is beginning to dawn on folks. The bullshittiness of the S&P 500’s year-to-date gain – driven by an ever-dwindling handful of gigantic darling stocks – is starting to lose relevance. The lack of participation by a growing number of stocks and sectors is all people want to talk about this week, despite the fact that the long-term trend for large caps is still intact.

For one glaring example of this, let&rs...



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All About Trends

Mid-Day Update

Reminder: David is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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Zero Hedge

Why Europe's Doomsayers Are Right, In One Chart

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

To say that Europe is doomed is an understatament, so much so that every European politician, banker, bureaucrat, and bean-counter has, over the past 5 years, taken at least one opportunity to deny and thus validate the statement.

But while there is cornucopia of reasons which foretell the collapse of the artificial monetary and pseudo-political union, whether it is the relentless deterioration in European output:

or the collapse in private lending, something the ECB is supposedly trying to fix with its latest TLTRO/Private QE...

...



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Chart School

Consumer Confidence Drops

Courtesy of Doug Short.

The Latest Conference Board Consumer Confidence Index was released this morning based on data collected through September 18. The headline number of 86.0 was a surprising decline over the revised August final reading of 93.4, an upward revision from 92.4. Today's number was well below the Investing.com forecast of 92.5. The current level is a four-month-low.

Here is an excerpt from the Conference Board press release.

Says Lynn Franco, Director of Economic Indicators at The Conference Board: “Consumer confidence retreated in September after four consecutive months of improvement. A less positive assessment of the current job market, most likely due to the recent softening in growt...

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Option Review

VIX Call Spreads Trade

The CBOE Vix Index topped 17.0 and the highest level since early-August on Monday morning amid declines in U.S. equities to start the trading week. The volatility index is off its earlier highs to trade 5.0% higher on the session at 15.65 as of 11:30 am ET. Options volume on the VIX is hovering near 360,000 contracts, or just more than 50% of the average daily reading of around 660,000 contracts. Calls are far more active than put options, as evidenced by the call/put ratio up above 4.2 in morning trading, perhaps as some traders position for volatility to stick around.

Large call spreads traded on the VIX today caught our attention as one big optio...



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Sabrient

Sector Detector: Stocks fight off predictable weakness, but expect more downside

Courtesy of Sabrient Systems and Gradient Analytics

Yes, the market showed significant weakness last week for the first time in quite a while. In fact, the Dow Jones Industrial Average moved triple digits each day. But it was all quite predictable, as I suggested in last week's article, and certainly nothing to worry about. Now the market appears to be poised for a modest technical rebound, and longer term, U.S. equities should be in good shape for a year-end rally. However, I still believe more downside is in order before any new highs are challenged. Moreover, market breadth is important for a sustained bull run, so the challenge for investors will be to put together broader bullish conviction, including the small caps.

In this weekly update, I give my view of the current market environment, offer a technical analysis of the S&P 500 chart, re...



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OpTrader

Swing trading portfolio - week of September 29th, 2014

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Market Shadows

Ebola vs. Us

Ebola vs. Us

By Ilene 

Ebola is spreading too quickly for Ebola-vaccine makers to conduct typical studies of safety and efficacy on experimental vaccines. Instead, vaccines will be tested for basic safety, but then deployed with protocols devised now in order to test for efficacy essentially on the field. Testing has to be expedited because the situation in West Africa gets worse every day while there are no approved vaccines or other treatments.

The chart below is from a paper in the New England Journal of Medicine showing estimates of the virus's trajectory projecting out to November 1, 2014. If current trends continue...



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Stock World Weekly

Stock World Weekly

Newsletter writers are available to chat with Members regarding topics presented in SWW, comments are found below each post.

The latest issue of Stock World Weekly is now available. Please sign in with your PSW user name and password. Or simply take a free trial to try out our weekly newsletter. 

...

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Promotions

Last Chance! See The 'Google-Like' Trading Algorithm 'Live' TODAY

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Digital Currencies

Making Sense of Bitcoin

Making Sense of Bitcoin

By James Black at International Man

Despite the various opinions on Bitcoin, there is no question as to its ultimate value: its ability to bypass government restrictions, including economic embargoes and capital controls, to transmit quasi-anonymous money to anyone anywhere.

Opinions differ as to what constitutes "money."

The English word "money" derives from the Latin word "moneta," which means to "mint." Historically, "money" was minted in the form of precious metals, most notably gold and silver. Minted metal was considered "money" because it possessed luster, was scarce, and had perceive...



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Pharmboy

Biotechs & Bubbles

Reminder: Pharmboy is available to chat with Members, comments are found below each post.

Well PSW Subscribers....I am still here, barely.  From my last post a few months ago to now, nothing has changed much, but there are a few bargins out there that as investors, should be put on the watch list (again) and if so desired....buy a small amount.

First, the media is on a tear against biotechs/pharma, ripping companies for their drug prices.  Gilead's HepC drug, Sovaldi, is priced at $84K for the 12-week treatment.  Pundits were screaming bloody murder that it was a total rip off, but when one investigates the other drugs out there, and the consequences of not taking Sovaldi vs. another drug combinations, then things become clearer.  For instance, Olysio (JNJ) is about $66,000 for a 12-week treatment, but is approved for fewer types of patients AND...



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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

Market Shadows >>