Archive for 2016

Benzinga's M&A Chatter for Monday January 11, 2016

Courtesy of Benzinga.

The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday January 11, 2016:

Shire to Combine With Baxalta; Baxalta Shareholders Will Receive $18 Cash, 0.1482 Shire ADS Per Share

The Deal:
Shire plc (NASDAQ: SHPG) and Baxalta Incorporated (NASDAQ: BXLT) announced Monday, that the boards of directors of both companies have agreed that Shire will combine with Baxalta, in a deal valued at approximately $32 billion. Baxalta shareholders will receive $18.00 in cash and 0.1482 Shire ADS per Baxalta share.

The transaction is expected to close mid-2016.

Baxalta closed at $39.10 on Monday down 2.27%.

NorthStar Asset Management to Explore Strategic Alternatives

The Strategic Review:
The Board of Directors of NorthStar Asset Management Group Inc. (NYSE: NSAM) announced Monday that it has hired Goldman, Sachs to assist in exploring potential strategic alternatives.

NorthStar Asset Management closed at $11.59 on Monday, up 10.8%.

Apollo Global Management in Talks to Acquire Apollo Education for ~$1B

The Rumor:
Apollo Global Management LLC (NYSE: APO) is in advanced talks to acquire Apollo Education Group Inc. (NASDAQ: APOL), according to
sources as reported by the Wall Street Journal on Monday. The sources said a deal would be valued at approximately $1 billion and could be reached in the next few weeks.

Apollo Education closed at $6.38 on Monday, down 3.19%.

Posted-In: News Rumors M&A Movers

4 Stocks Moving In Monday's After-Hours Session

Courtesy of Benzinga.

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Shares of Alcoa Inc (NYSE: AA) were trading up more than 2.6 percent in Monday's after-hours session, following the announcement of the company's fourth quarter fiscal 2015 financial results. The mid-cap lightweight metals manufacturer reported earnings of $0.04 per share on revenue of $5.245 billion, in line with the Street's consensus estimate of $0.04 per share and $5.217 billion.

It should be noted that while investors were relieved with the results, earnings fell 88 percent year-over-year while revenue dropped 18 percent, driven mostly by depressed aluminum prices.

Apollo Education Group Inc (NASDAQ: APOL) also reported its earnings, before the market opened. Results came in below expectations, driving the stock down 3.19 percent during the day. Shares recuperated more than 20 percent after the bell rang, following a Dow Jones report about the company being in "advanced" talks with Apollo Global Management LLC (NYSE: APO), for the latter to buy the former for roughly $1 billion.

Another big gainer was A Schulman Inc (NASDAQ: SHLM), up more than 14 percent, recuperating some of the ground lost during the day (24.82 percent) after reporting earnings and revenue below consensus estimates.

Student Transportation Inc (NASDAQ: STB) was up almost 8.5 percent in after-hours trading on no news. The surge may be a correction of the 8.96 percent decline the stock experienced over the regular session.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.

Posted-In: Earnings News M&A After-Hours Center Movers

Juno Therapeutics Lower, To Acquire AbVitro For $78 Million In Cash And Nearly 1.30 Million Shares

Courtesy of Benzinga.

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Shares of Juno Therapeutics Inc (NASDAQ: JUNO) were trading lower by more than 4 percent at $34.78 during Monday's trading session.

Juno Therapeutics announced earlier that it has acquired AbVitro, Inc., a private biotechnology company whose technology platform accelerates the development of novel immunotherapies by identifying cancer-specific immune cells from natural immune responses at unprecedented resolution.

Juno Therapeutics noted that the acquisition will provide it with a "leading next-generation single cell sequencing platform that will augment Juno's capabilities to create best-in-class engineered T cells against a broad array of cancer targets."

The company also added that it has reached an agreement with principle with Celgene Corporation (NASDAQ: CELG) to license a subset of the acquired technology and grant Celgene options to certain related potential product rights.

Juno Therapeutics has also agreed to pay $78 million in cash and 1,289,193 shares of its stock to acquire AbVitro.

"High throughput, single cell sequencing will meaningfully accelerate our research process in finding both novel antigen targets and appropriate TCR and CAR T cell binders. We remain highly encouraged by the potential of our engineered T cell technology to impact the lives of cancer patients, and this technology improves our capabilities to extend our platform to a broader array of cancer types including solid tumors," said Hy Levitsky, M.D., Juno's Chief Scientific Officer. "We are highly impressed with the quality of the science at AbVitro, and we are delighted to welcome this world-class team to Juno."

Posted-In: AbVitro cancer Cancer Drugs CelgeneNews M&A Intraday Update Movers

Credit Suisse Upgrades GM, Puts Value At $38 Per Share

Courtesy of Benzinga.

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  • General Motors Company (NYSE: GM) shares have lost 13 percent over the past 5 trading days.
  • Credit Suisse’s Dan Galves upgraded the rating for the company from Neutral to Outperform, while raising the price target from $37 to $38.
  • While the company’s earnings power appears higher than was previously assumed, downside is now less severe, Galves stated.

Analyst Dan Galves believes that there are heightened cyclical concerns on the global Auto sector, which appear “over-stated” in the near-term. He added that General Motors’ risk / reward appear healthy, with the company’s FCF generation likely to continue to be robust longer than the Street expects.

“We see many company-specific factors that will likely support higher-than-expected earnings power, both at current volume levels, as well as trough,” Galves wrote.

The analyst pointed out that General Motors was able to outperform expectations in 2015, with 120 bps global margin expanding, despite flat volume growth and a trough product cadence. He believes that the company would be able to continue to beat Street expectations, backed by substantial material cost savings and a significantly improved product cadence in 2016 and 2017.

The EPS estimates for 2015, 2016 and 2017 have been raised from $4.80 to $4.85, from $5.40 to $5.45 and from $5.50 to $5.65, respectively.

Latest Ratings for GM

Date Firm Action From To
Jan 2016 Credit Suisse Upgrades Neutral Outperform
Oct 2015 Deutsche Bank Maintains Hold
Oct 2015 UBS Maintains Buy

View More Analyst Ratings for GM
View the Latest Analyst Ratings

Posted-In: Credit Suisse Dan GalvesAnalyst Color Long Ideas Upgrades Price Target Analyst Ratings Trading Ideas

Activist: Macy's Real Estate Worth $21 Billion, Operating Business Trading At 'Negative Value'

Courtesy of Benzinga.

Activist: Macy's Real Estate Worth $21 Billion, Operating Business Trading At 'Negative Value'

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Shares of Macy’s, Inc. (NYSE: M) were trading higher by more than 4 percent on Monday after Starboard Value, an activist investment firm and Macy’s shareholder delivered a letter to the company.

Jeffrey Smith, Starboard Value’s Managing Member, wrote in the letter that the investment firm remains “frustrated” with Macy’s operating performance of late, but “appreciates” recent actions to “re-size” the company’s cos structure and store base.

Smith went on to reaffirm his belief that Macy’s could realize more than $500 million in cost reductions through a combination of improved labor productivity and SG&A reductions.

Smith continued that Macy’s real estate assets are worth $21 billion alone — implying that the operating business is currently “trading for a negative value.”

Pursuing JV Structures Is Best Step Forward

“As we have outlined in our presentation materials to you and as discussed with you during our calls and meetings, we believe pursuing JV structures is the most prudent step for Macy’s at this time to create significant value for shareholders given the wide discrepancy between the value of the real estate and the current enterprise value of the Company,” Smith wrote.

“We believe that a JV, or series of JVs, can crystallize the value of Macy’s real estate while bringing in a partner with substantial capital and real estate expertise that will enable the JVs to grow and diversify their real estate holdings.”

Finally, Smith argued that a successful execution of the investment firm’s real estate strategy “can create meaningful and lasting value for shareholders.”

Posted-In: Jeffrey SmithLong Ideas News Hedge Funds Events Movers Trading Ideas General Best of Benzinga

Top Performing Industries For January 11, 2016

Courtesy of Benzinga.

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16 Stocks Moving In Friday's After-Hours Session

At 10:30 am, the Dow rose 0.45 percent to 16,419.83, the broader Standard & Poor’s 500 index moved up 0.22 percent to 1,926.28 and the NASDAQ composite index gained 0.21 percent to 4,653.37.

The industries that are driving in the market today are:

Cigarettes: This industry gained 2.1 percent by 10:30 am. The top performer in this industry was Philip Morris International Inc.(NYSE: PM), which rose 2.6 percent. Philip Morris shares have gained 4.41 percent over the past 52 weeks, while the S&P 500 index has declined 5.24 percent in the same period.

Home Health Care: This industry rose 1.6 percent by 10:30 am ET. The top performer in this industry was Amedisys Inc (NASDAQ: AMED), which gained 4.5 percent. Amedisys’ PEG ratio is 0.36.

Foreign Utilities: The industry gained 1.4 percent by 10:30 am. The top performer in this industry was CPFL Energia S.A. (ADR) (NYSE: CPL), which gained 3.3 percent. CPFL Energia shares have dropped 45.65 percent over the past 52 weeks, while the S&P 500 index has declined 5.24 percent in the same period.

General Entertainment: This industry moved up 1.4 percent by 10:30 am. The top performer in this industry was Viggle Inc (NASDAQ: VGGL), which rose 1.5 percent.

Posted-In: Top Performing IndustriesNews Intraday Update Markets Movers

Apollo Education Surges Off Q1 Print, Exploration Of Strategic Alternatives

Courtesy of Benzinga.

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Shares of Apollo Education Group Inc (NASDAQ: APOL) were trading higher by more than 5 percent late Monday morning after the company reported a better than expected first quarter results and a key announcement from the company’s Board of Directors.

Apollo Education Group said that it earned $0.29 per share on revenue of $586.02 million. However, Wall Street analysts were expecting the company to earn $0.31 per share on revenue of $610.42 million.

Concurrent with the quarterly print, Apollo Education Group’s Board of Directors announced that it will begin exploring strategic alternatives which “could potentially lead to a change of control of the Company.”

Apollo Education Group’s Board added that exploring strategic alternatives at this time will “support and accelerate Apollo’s strategic initiatives, which include the continued growth and investment in Apollo Global and the continuation of the University of Phoenix’s transformation plan to further enhance student outcomes and provide outstanding, career relevant higher education for working adults.”

Posted-In: Apollo Education Group Appollo Global Online Learning Strategic Alternatives University of PhoenixEarnings News Movers

Brean: Apple Supply Fears Aren't 'Draconian,' Stock Worth $170

Courtesy of Benzinga.

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  • Shares of Apple Inc. (NASDAQ: AAPL) have declined 21.35 percent over the past six months, dropping to a low of $96.45 on January 7.
  • Brean Capital’s Ananda Baruah has maintained a Buy rating on the company, with a price target of $170.
  • Baruah believes that the recent “noise” from the company’s supply chain might have some merit, although the implications were unlikely to be as “draconian” as anticipated.

Analyst Ananda Baruah expressed positivity regarding the outlook for the stock through 2016, while mentioning, however, that “data points need to stabilize and that the Street requires conviction on our belief that a 4-inch phone is a done deal.”

Baruah estimated that Apple’s unit shipments for CY16 would be flat year on year at about 230 million iPhone units, although the consensus forecast was expected at a decline of 5-10 percent.

According to the Brean Capital report, unit shipments for the December and March quarter are likely to remain intact, while the recent reductions were for the June to December quarter, given the weaker demand for the iPhone 6s and 6s+ and to bring down inventories.

Baruah expressed continued confidence in the potential for gross margin upside, expecting the company to generate EPS of more than $3.35 in the December quarter, with gross margin of 41 percent.

“We continue to believe that Street EPS is materially low through ’17 from 1) potentially greater phone ships, 2) ongoing favorable GM from both iPhones and iPhone mix and 3) greater Opex $ leverage through at least ’16,” the report added.

Latest Ratings for AAPL

Date Firm Action From To
Jan 2016 Mizuho Securities Upgrades Neutral Buy
Jan 2016 Pacific Crest Maintains Overweight
Jan 2016 Canaccord Genuity Maintains Buy

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: Ananda BaruahAnalyst Color Long Ideas News Reiteration Analyst Ratings Tech Trading Ideas

Benzinga's Top Upgrades

Courtesy of Benzinga.

Benzinga's Top Upgrades

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Mizuho Securities upgraded Apple Inc. (NASDAQ: AAPL) from Neutral to Buy. The price target Apple has been lowered from $125 to $120. Apple shares closed at $96.96 on Friday.

Analysts at Barclays upgraded Marathon Oil Corporation (NYSE: MRO) from Equal-weight to Overweight. The price target Marathon Oil has been lowered from $18 to $15. Marathon Oil shares closed at $10.35 on Friday.

Analysts at Evercore ISI Group upgraded Discover Financial Services (NYSE: DFS) from Hold to Buy. Discover Financial shares closed at $49.97 on Friday.

Credit Suisse upgraded General Motors Company (NYSE: GM) from Neutral to Outperform. The price target General Motors has been raised from $37 to $38. General Motors shares closed at $29.52 on Friday.

Analysts at Morgan Stanley upgraded Genesco Inc. (NYSE: GCO) from Equal-weight to Overweight. The price target Genesco has been raised from $71 to $81. Genesco shares closed at $55.59 on Friday.

Analysts at RBC Capital upgraded Owens Corning (NYSE: OC) from Sector Perform to Outperform. The price target Owens-Corning has been raised to $53. Owens-Corning shares closed at $44.58 on Friday.

Analysts at Wells Fargo upgraded Whiting Petroleum Corp (NYSE: WLL) from Market Perform to Outperform. Whiting Petroleum shares closed at $7.78 on Friday.

Analysts at Goldman Sachs upgraded Nasdaq Inc (NASDAQ: NDAQ) from Sell to Neutral. Nasdaq shares closed at $55.81 on Friday.

JP Morgan upgraded Sanderson Farms, Inc. (NASDAQ: SAFM) from Neutral to Overweight. Sanderson Farms shares closed at $75.02 on Friday.

Cowen & Company upgraded General Dynamics Corporation (NYSE: GD) to Outperform. General Dynamics shares closed at $130.19 on Friday.

Latest Ratings for AAPL

Date Firm Action From To
Jan 2016 Mizuho Securities Upgrades Neutral Buy
Jan 2016 Pacific Crest Maintains Overweight
Jan 2016 Canaccord Genuity Maintains Buy

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: top upgradesUpgrades Analyst Ratings

The Shrinking Global Economy, In Three Charts

Courtesy of John Rubino.

Regular contributor Michael Pollaro offers three more charts which tell a story that’s both disturbing and apparently misunderstood by a lot of mainstream analysts.

The US trade deficit (exports minus imports) has been getting smaller. Since a trade deficit subtracts from GDP growth, a shrinking deficit will, other things being equal, produce a bigger, faster-growing economy (that’s the mainstream take).

US trade balance

But other things aren’t equal. It turns out that the components of that trade balance figure are both shrinking. Exports — the stuff we sell to foreigners — have been declining since the dollar spiked in 2014. That’s not a surprise, since a strengthening currency makes exports more expensive and thus harder to sell. So other countries are buying less of our stuff, which though not surprising is a bad sign.

US exports

Meanwhile, imports — stuff we buy from abroad — have also plunged in the past year, which is partly due to cheaper oil lowering the dollar value of energy and other commodity imports. But it also means that even though French wine and German cars have become less expensive as the dollar has soared against the euro, we’re not buying more of them. So US consumers, even with all the money they’re saving at the gas pump, still can’t (or won’t) take advantage of a sale on imported goods.

US imports

If imports and exports are both falling, that means consumption is weak pretty much everywhere. And weak consumption means slow or negative growth, which contradicts the recovery thesis that now dominates policy making and the financial media.

It also makes last week’s market turmoil easier to understand. Falling trade means lower corporate profits, which, if history is still a valid guide, means less valuable equities. So it could be that the markets are simply figuring this out and revaluing assets accordingly.

Visit John's Dollar Collapse blog here.


Zero Hedge

Johns Hopkins, Bristol-Myers Face $1 Billion Suit For Infecting Guatemalan Hookers With Syphilis 

Courtesy of ZeroHedge. View original post here.

A federal judge in Maryland said Johns Hopkins University, pharmaceutical company Bristol-Myers Squibb and the Rockefeller Foundation must face a $1 billion lawsuit over their roles in a top-secret program in the 1940s ran by the US government that injected hundreds of Guatemalans with syphilis, reported Reuters.

Several doctors from Hopkins an...

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Phil's Favorites

This Is The One Chart Every Trader Should Have "Taped To Their Screen"

Courtesy of Zero Hedge

After a year of tapering, the Fed’s balance sheet finally captured the market’s attention during the last three months of 2018.

By the start of the fourth quarter, the Fed had finished raising the caps on monthly roll-off of its balance sheet to the full $50bn per month (peaking at $30bn USTs, $20bn MBS, although on many months the (balance sheet) B/S does not actually shrink by this full amount which depends on the redemption schedule) and by end-Q4 markets also experienced some of the largest volatility and drawdowns in nearly a decade.

As Nomura&...

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The Competition For Capital Has Made Stocks Cheap

By Michelle Jones. Originally published at ValueWalk.

The new year is upon us, and now is the time many investors look at what 2018 was and prepare for what 2019 might be. Recession jitters are starting to pick back up again, especially now that the full picture of 2018 is in the books. But what if you could pick only one theme for 2018? Jefferies strategist Sean Darby and team have a suggestion which is especially timely given that it appears to mark the end of an era.

StockSnap / PixabayVolatility carries into the new year

This past year was one of extremes, and the markets ended i...

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Kimble Charting Solutions

Stock declines did not break 9-year support, says Joe Friday

Courtesy of Chris Kimble.

We often hear “Stocks take an escalator up and an elevator down!” No doubt stocks did experience a swift decline from the September highs to the Christmas eve lows. Looks like the “elevator” part of the phrase came true as 2018 was coming to an end.

The first part of the “stocks take an escalator up” seems to still be in play as well despite the swift decline of late.

Joe Friday Just The Facts Ma’am- All of these indices hit long-term rising support on Christmas Eve at each (1), where support held and rallies have followed.

If you find long-term perspectives helpf...

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Digital Currencies

Transparency and privacy: Empowering people through blockchain


Transparency and privacy: Empowering people through blockchain

Blockchain technologies can empower people by allowing them more control over their user data. Shutterstock

Courtesy of Ajay Kumar Shrestha, University of Saskatchewan

Blockchain has already proven its huge influence on the financial world with its first application in the form of cryptocurrencies such as Bitcoin. It might not be long before its impact is felt everywhere.

Blockchain is a secure chain of digital records that exist on multiple computers simultaneously so no record can be erased or falsified. The...

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Insider Scoop Explores Strategic Alternatives, Analyst Sees Possible Sale Price Around $30 Per Share

Courtesy of Benzinga.

Related 44 Biggest Movers From Yesterday 38 Stocks Moving In Wednesday's Mid-Day Session ... more from Insider

Chart School

Weekly Market Recap Jan 13, 2019

Courtesy of Blain.

In last week’s recap we asked:  “Has the Fed solved all the market’s problems in 1 speech?”

Thus far the market says yes!  As Guns n Roses preached – all we need is a little “patience”.  Four up days followed by a nominal down day Friday had the market following it’s normal pattern the past nearly 30 years – jumping whenever the Federal Reserve hints (or essentially says outright) it is here for the markets.   And in case you missed it the prior Friday, Chairman Powell came back out Thursday to reiterate the news – so…so… so… patient!

Fed Chairman Jerome Powell reinforced that message Thursday during a discussion at the Economic Club of Washington where he said that the central bank will be “fle...

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Members' Corner

Why Trump Can't Learn


Bill Eddy (lawyer, therapist, author) predicted Trump's chaotic presidency based on his high-conflict personality, which was evident years ago. This post, written in 2017, references a prescient article Bill wrote before Trump even became president, 5 Reasons Trump Can’t Learn. ~ Ilene 

Why Trump Can’t Learn

Donald Trump by Gage Skidmore (...

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Opening Pandora's Box: Gene editing and its consequences

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


Opening Pandora's Box: Gene editing and its consequences

Bacteriophage viruses infecting bacterial cells , Bacterial viruses. from

Courtesy of John Bergeron, McGill University

Today, the scientific community is aghast at the prospect of gene editing to create “designer” humans. Gene editing may be of greater consequence than climate change, or even the consequences of unleashing the energy of the atom.


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Mapping The Market

Trump: "I Won't Be Here" When It Blows Up

By Jean-Luc

Maybe we should simply try him for treason right now:

Trump on Coming Debt Crisis: ‘I Won’t Be Here’ When It Blows Up

The president thinks the balancing of the nation’s books is going to, ultimately, be a future president’s problem.

By Asawin Suebsaeng and Lachlan Markay, Daily Beast

The friction came to a head in early 2017 when senior officials offered Trump charts and graphics laying out the numbers and showing a “hockey stick” spike in the nationa...

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Swing trading portfolio - week of September 11th, 2017

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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Free eBook - "My Top Strategies for 2017"



Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:


·       How 2017 Will Affect Oil, the US Dollar and the European Union


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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 >>