Archive for 2017

AMAG Pharmaceuticals Tanks After Raymond James Downgrade

Courtesy of Benzinga.

AMAG Pharmaceuticals Tanks After Raymond James Downgrade

AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) shares were seen trading lower by $10.50 at $25.20 in Monday’s session. Before the open, the issue company issued FY 2017 sales that surrounded current estimates. Also, the company announced an exclusive licensing agreement with Palatin Technologies, Inc. (NYSE: PTN) for North American rights to Rekyndatm.

However, that news has been overshadowed by a downgrade at Raymond James. The analysts changed their rating from Market Perform to Underperform. Its $4.00 plus lower opening price of $31.55 has turned out to be the high for the session.

The ensuing decline has taken the issue to $23.90, but it has rebounded back into the $25.00 handle. That low coincides with a pair of lows from November 3 and 4 at $23.80.

Latest Ratings for AMAG

Date Firm Action From To
Jan 2017 Raymond James Downgrades Market Perform Underperform
Jan 2017 Janney Capital Initiates Coverage On Buy
Dec 2016 Cantor Fitzgerald Initiates Coverage On Neutral

View More Analyst Ratings for AMAG


View the Latest Analyst Ratings

Posted-In: Analyst Color Biotech News Downgrades Technicals Intraday Update Analyst Ratings Movers





3D Systems Higher Off Takeover Chatter

Courtesy of Benzinga.

3D Systems Higher Off Takeover Chatter

3D Systems Corporation (NYSE: DDD) shares were seen trading higher by $1.40 at $15.86 in Monday’s session. The catalyst for the rally is unconfirmed rumors that the company has hired an investment banker after being approached by General Electric Company (NYSE: GE) earlier Monday.

After a flat open, the issue immediately bottomed just under Friday’s close ($14.46) at $14.32 and was beginning to inch higher, when the rumors surfaced around 9:40 a.m.

So far, the ensuing rally has taken the issue to $15.96 and is not far off that level as of 11:00 a.m. The issue has not traded in the $16 handle since October 12 when it peaked at $16.72. Also, it has not closed over $16, since the day prior when it ended that session at $16.69.

Posted-In: News Rumors Technicals M&A Intraday Update Movers Trading Ideas





FDA Has Approved Egalet’s ARYMO ER

Courtesy of Benzinga.

FDA Has Approved Egalet's ARYMO ER

The U.S. Food and Drug Administration approved Egalet Corp (NASDAQ: EGLT)’s ARYMO ER on Monday to expand the industry for opioid-based pain-management treatments. The announcement bodes well for Egalet, the shares of which responded with a 17-percent jump.

Trading was halted at 12:24.33 p.m. pending news. At the time of the freeze, shares rested at $9.12 following a day-opening price of $7.97, up 15.44 percent.

Prior to Monday, about 61 percent of the company’s shares had been shorted — a condition that may induce a short squeeze when trading resumes.

This activity follows a tumultuous year for Egalet investors.

In October, shares dropped 5 percent after the FDA delayed ARYMO ER’s Prescription Drug User Fee Act date and shook investor confidence. However, delays are typical in FDA opioid proceedings, and Cantor Fitzgerald analysts reiterated a company Buy rating at the time.

Egalet plans to launch the drug in the first quarter of 2017.

Posted-In: Analyst Color Biotech Long Ideas News Health Care Reiteration FDA Analyst Ratings Best of Benzinga





Further Upside Looks Limited For These 3 BDCs

Courtesy of Benzinga.

Further Upside Looks Limited For These 3 BDCs

Baird has downgraded business development companies Fidus Investment Corp (NASDAQ: FDUS), Monroe Capital Corp (NASDAQ: MRCC) and Main Street Capital Corporation (NYSE: MAIN) to Neutral from Outperform, saying risk/reward in these stocks appears balanced at current valuations.

Instead, the brokerage recommends OFS Capital Corp (NASDAQ: OFS) for fresh money.

“We would continue to maintain positions given attractive dividend yields but further price appreciation appears limited,” analyst Bryce Rowe wrote in a note.

For Fidus, Rowe sees limited upside to $17 target price, which suggests shares should trade at a 10 percent premium to NAV/share compared to its current 7 percent premium. The analyst trimmed his 2017 NII/share estimate to $1.49 from $1.61 to reflect from the December issuance of 3.2 million shares.

In addition, the analyst has a $16 price target on Monroe, with 2017 NII/share estimate remaining at $1.44. That said, Rowe believes consensus 2017 NII/share of $1.61 could prove high if dividend income from Rockdale Blackhawk declines.

Also, Rowe said the $37 target price on Main Street suggests the stock is trading around 170 percent of NAV/share. Longer term, the analyst believes Main Street could trade at or above 200 percent of NAV/share given its ability to generate an average return on equity about 15 percent across a full market cycle.

At Last Check

  • Fidus shares were down 3.72 percent at $16.03.
  • Main Street was down 1.11 percent at $36.42.
  • Monroe was down 1.99 percent at $15.46.
  • OFS Capital was flat at $13.98.

Latest Ratings for FDUS

Date Firm Action From To
Jan 2017 Baird Downgrades Outperform Neutral
Sep 2016 DA Davidson Initiates Coverage on Buy
Jan 2016 Janney Capital Initiates Coverage on Neutral

View More Analyst Ratings for FDUS


View the Latest Analyst Ratings

Posted-In: Baird Bryce RoweAnalyst Color News Downgrades Price Target Analyst Ratings Movers Best of Benzinga





Bernstein Downgrades Juniper Following 30% Rally

Courtesy of Benzinga.

Bernstein Downgrades Juniper Following 30% Rally

Following the strong rally in Juniper Networks, Inc. (NYSE: JNPR) shares, the stock is now trading in line with its average historical P/E multiple, Bernstein analysts said in a report, while downgrading the company to Market Perform.

Juniper’s shares recorded a steep decline over the first five weeks of 2016 due to the company’s cautious guidance and the resignation of the chief financial officer. Shares have now rebounded ~30 percent from their February lows, backed by “excellent execution and momentum in its “cloud” business in recent quarters,” the analysts mentioned.

Expectations For 2017

The 2017 estimates for Juniper have been revised upwards and now appear “very reasonable,” the analysts pointed out, adding that the expectations had increased ~3 percent in the last three to six months.

Although there is some upside potential, particularly in the first half of the year, the expectations imply a strong performance in H2, which means “the situation will become more risky as we progress into 2017,” the Bernstein report added.

Latest Ratings for JNPR

Date Firm Action From To
Dec 2016 Nomura Upgrades Neutral Buy
Dec 2016 Credit Suisse Upgrades Neutral Outperform
Nov 2016 Goldman Sachs Maintains Buy

View More Analyst Ratings for JNPR


View the Latest Analyst Ratings

Posted-In: BernsteinAnalyst Color Downgrades Analyst Ratings Tech Best of Benzinga





Best Buy, Five Below, Pier 1: 3 Of Loop’s Favorites In Specialty Hardlines Retail Sector

Courtesy of Benzinga.

Best Buy, Five Below, Pier 1: 3 Of Loop's Favorites In Specialty Hardlines Retail Sector

Loop Capital’s Anthony Chukumba picks Best Buy Co Inc (NYSE: BBY), Five Below Inc (NASDAQ: FIVE) and Pier 1 Imports Inc (NYSE: PIR) as his favorites in the specialty hardlines retail sector in 2017. Chukumba also projects the year as another “stock picker’s market” for the group given the widely diverging prospects.

A Look Forward

“As we ponder the year ahead, we believe the U.S. macroeconomic backdrop is generally favorable for specialty hardlines retailers, including rising consumer confidence, falling unemployment, a relatively stable personal savings rate, and a strengthening housing market,” Chukumba wrote in a note.

On the valuation front, the analyst said specialty hardlines retailer valuations remain fairly inexpensive due to relatively low square footage growth prospects and growing investor concern with e-commerce disintermediation.

Headwinds

Chukumba also warned that the ongoing shift to e-commerce will hit retailers in the form of gross margins and heavy investments, forcing many of them to reassess the size of their respective “brick-and-mortar” store bases.

Another key headwind for retailers in 2017 is likely to be wage inflation. The minimum wage increased in 20 U.S. states and the District of Columbia at the start of 2017, with increases ranging from $0.05 to nearly $2.00/hour. The move will benefit 4.4 million employees across the United States, with majority of those working in the retail industry.

But, the analyst says that retailers appear to have “dodged a bullet” with the November 2016 delay of the Fair Labor Standards Act.

Meanwhile, Chukumba believes the two 2017 macroeconomic “wild cards” are the impact of rising interest rates and Trump’s business policies including his import tariff proposals.

Image Credit: By Miosotis Jade (Own work) [CC BY-SA 4.0], via Wikimedia Commons

Posted-In: Analyst Color Long Ideas News Price Target Politics Reiteration Retail Sales Analyst Ratings Best of Benzinga





Keep an Eye on These 7 Stocks for January 9, 2017

Courtesy of Benzinga.

Keep an Eye on These 7 Stocks for January 9, 2017

Some of the stocks that may grab investor focus today are:

  • Wall Street expects Acuity Brands, Inc. (NYSE: AYI) to report quarterly earnings at $2.16 per share on revenue of $894.94 million before the opening bell. Acuity Brands shares fell 0.55 percent to close at $237.36 on Friday.
  • Analysts expect A Schulman Inc (NASDAQ: SHLM) to post quarterly earnings at $0.45 per share on revenue of $621.22 million after the closing bell. A Schulman shares gained 1.93 percent to close at $34.40 on Friday.
  • Before the opening bell, Global Payments Inc (NYSE: GPN) is projected to report its quarterly earnings at $0.85 per share on revenue of $805.48 million. Global Payments shares rose 1.40 percent to close at $74.45 on Friday.
  • Stage Stores Inc. (NYSE: SSI) reported a drop in its holiday season same-store sales and lowered its earnings guidance. The retailer’s same-store sales dropped 7.3 percent for the nine-week period ending December 31, 2016. Stage Stores declined 2.68 percent to close at $4.00 on Friday.

Find out what’s going on in today’s market and bring any questions you have to Benzinga’s PreMarket Prep.

  • Analysts are expecting Commercial Metals Company (NYSE: CMC) to have earned $0.16 per share on revenue of $1.11 billion in the latest quarter. Commercial Metals will release earnings after the markets close. Commercial Metals shares fell 1.48 percent to close at $22.60 on Friday.
  • After the markets close, WD-40 Company (NASDAQ: WDFC) is estimated to post its quarterly earnings at $0.87 per share on revenue of $96.31 million. WD-40 shares rose 0.08 percent to close at $119.25 on Friday.
  • Analysts expect Apollo Education Group Inc (NASDAQ: APOL) to post quarterly earnings at $0.19 per share on revenue of $494.60 million after the closing bell. Apollo Education shares gained 0.10 percent to close at $9.95 on Friday.

Posted-In: Stocks To WatchEarnings News Guidance Retail Sales Pre-Market Outlook Markets Trading Ideas





Yuan Is Crashing (Again)

Courtesy of ZeroHedge. View original post here.

The volatility in the Chinese currency has gone from the sublime to the ridiculous. After exploding 21 handles stronger in the biggest PBOC-engineered short-squeeze in history – erasing the entire post-election sell-off – offshore Yuan is now collapsing once again, down 350 pips tonight (and over 10 big figures from Thursday’s highs). While interbank rates have calmed down, the rush to exit the currency has not…

The last two days are the biggest drop in offshore Yuan since Aug 2015′s devaluation… as PBOC weakens its fix by the most sine June 2016.

Pushing historical volatility to its highest since the Aug 2015 devaluation…

For some context, this level of volatility is over 10 standard deviations away from the pre-Aug 2015 norms.

Notably the moves accelerate afterPBOC Advisor Fan Gang told Bloomberg TV…

  • *PBOC WANTS TO SEE FX RESERVES REDUCE SMOOTHLY, GRADUALLY: FAN
  • *CHINA POLICY MAKERS NOT LIKELY GO FURTHER ON OUTFLOW CURBS: FAN
  • *YUAN OVERVALUED IN PAST 3-4 YEARS AGAINST DOLLAR: FAN
  • *CHINA POLICY MAKERS NOT LIKELY TO DROP INTERVENTION: FAN
  • *USE OF YUAN HAS INCREASED DESPITE RECENT DEPRECIATION: FAN
  • *CHINA NEEDS LESS FX RESERVE AFTER YUAN’S INCLUSION IN SDR: FAN

Which was followed by the state-run Global Times newspaper says in an English-language editorial, saying that the Chinese people will demand its government to “take revenge” if Donald Trump reneges on the one-China policy after becoming U.S. President.





Weekly Market Recap Jan 8, 2017

Courtesy of Blain.

The week that was…

Another good week for bulls as a Monday holiday was followed by 3 days of gains mixed in with 1 very tiny pullback Thursday.   Dow 20K remained a tease.

djia

It is worth noting large cap technology was a big laggard in the Trump rally; those stocks finally woke up Thursday and Friday this week.

The first week of the month is very heavy on economic data so let’s review:

  • Tuesday – the Institute for Supply Management said its manufacturing index climbed to 54.7 in December from 53.2. The reading was higher than expected, and the highest level in two years.  Any reading over 50 signifies expansion.
  • Also Tuesday, a read on construction spending rose 0.9% in November, above expectations and the sixth increase of the past seven months.
  • Wednesday, minutes from the Federal Reserve’s December meeting were released in which it was inferred interest-rate hikes may come at a faster-than-expected pace.
  • Thursday, ISM Services came in at 57.2, 0.1 ahead of expectation.
  • Friday, the government said the economy created 156,000 jobs last month, below the consensus of 180,000 forecast by economists. However, sharp upward revisions for November jobs number and a slight trimming of October number means the latest payrolls were more or less in line, according to analysts.  More importantly, wage growth—often seen as a precursor to inflation—picked up to mark the fastest annual increase since a recovery that began in mid-2009.

As we wrote last week we focus on the U.S. market but we like to look overseas from time to time – look at the Japanese index since Trump’s election; pretty interesting action for a country that loves to export … and people expecting some sort of trade war.

nikk

Byron Wein is in his 32nd year of making “surprise” predictions (these are outlier type events) – always a fun read.

“The purpose of The Ten Surprises is to stretch my thinking (and hopefully yours) about what might happen in the coming year,” Wien wrote in a column for Barron’s. “I don’t tamp down the


continue reading





Weekly Market Recap Jan 8, 2016

Courtesy of Blain.

The week that was…

Another good week for bulls as a Monday holiday was followed by 3 days of gains mixed in with 1 very tiny pullback Thursday.   Dow 20K remained a tease.

djia

It is worth noting large cap technology was a big laggard in the Trump rally; those stocks finally woke up Thursday and Friday this week.

The first week of the month is very heavy on economic data so let’s review:

  • Tuesday – the Institute for Supply Management said its manufacturing index climbed to 54.7 in December from 53.2. The reading was higher than expected, and the highest level in two years.  Any reading over 50 signifies expansion.
  • Also Tuesday, a read on construction spending rose 0.9% in November, above expectations and the sixth increase of the past seven months.
  • Wednesday, minutes from the Federal Reserve’s December meeting were released in which it was inferred interest-rate hikes may come at a faster-than-expected pace.
  • Thursday, ISM Services came in at 57.2, 0.1 ahead of expectation.
  • Friday, the government said the economy created 156,000 jobs last month, below the consensus of 180,000 forecast by economists. However, sharp upward revisions for November jobs number and a slight trimming of October number means the latest payrolls were more or less in line, according to analysts.  More importantly, wage growth—often seen as a precursor to inflation—picked up to mark the fastest annual increase since a recovery that began in mid-2009.

As we wrote last week we focus on the U.S. market but we like to look overseas from time to time – look at the Japanese index since Trump’s election; pretty interesting action for a country that loves to export … and people expecting some sort of trade war.

nikk

Byron Wein is in his 32nd year of making “surprise” predictions (these are outlier type events) – always a fun read.

“The purpose of The Ten Surprises is to stretch my thinking (and hopefully yours) about what might happen in the coming year,” Wien wrote in a column for Barron’s. “I don’t tamp down the


continue reading





 
 
 

Zero Hedge

Enemy Of The People?

Courtesy of ZeroHedge. View original post here.

Via The Zman blog,

There has never been a time when normal people did not know the media was biased and biased in a predictable direction. For every non-liberal in the media, there were at least ten liberals. The ratio was probably higher, but then, as now, some lefties liked to pretend they were independents or some third option.

The media used to invest a lot of time denying they had a bias and an agenda, but the only people who believed them were on the Left, which had the odd effect of confirming they had a bias and an agenda.

...



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Phil's Favorites

A 2019 Earnings Recession?

 

A 2019 Earnings Recession?

Courtesy of 

Shout to Leigh!

On the new Talk Your Book – Josh Brown is joined by Leigh Drogen of Estimize, one of the leading providers of crowdsourced financial and economic data to talk about the trend in corporate profits that could potentially lead to an earnings recession later this year.

What is the thing that Leigh is seeing in the data that Wall Street isn’t yet picking up on? What segment of the stock market is most at risk? Why is the crowd smarter than the narrow consensus of Wall Street analysts?

Check out Estimize ...



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ValueWalk

D.E. Shaw Investment Calls For Leadership Change At EQT

By ActivistInsight. Originally published at ValueWalk.

Elliott Management has offered to acquire QEP Resources for approximately $2.1 billion, contending the oil and gas explorer’s turnaround efforts have done little to lift the company’s share price. The company responded and said that a thorough review of the proposition is imperative in order to properly act in the best interests of shareholders, “taking into account the company’s other alternatives and current market conditions.” The news came only a month after Travelport Worldwide agreed to sell itself to Siris Capital Group and Elliott’s private equity arm Evergreen Coast Capital for $4.4 billion in cash and two months after Athenahealth was bought by Veritas and Evergreen for $5.7 bi...



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Kimble Charting Solutions

Gold & Silver Testing Important Breakout Levels!

Courtesy of Chris Kimble.

Gold and Silver from a long-term perspective have created a series of lower highs over the past 8-years. Will 2019 bring a change to this trend? A big test is in play!

Gold since the lows in 2016 has created a series of higher lows, while Silver may have created a double bottom.

Gold & Silver are currently facing break attempts a (1) and (2). These falling resistance lines have disappointed metals bulls for the past few years.

The direction of Gold and Silver weeks and months from now should be highly influenced by what each does as they are attempting to break above important resistance levels.

To become a member of Kimbl...



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Insider Scoop

UBS Says Disney's Streaming Ambition Gives It A 'New Hope'

Courtesy of Benzinga.

Related DIS Despite Some Risks, Analysts Still Expecting Double Digit Growth From Communications Services In Q4 ...

http://www.insidercow.com/ more from Insider

Digital Currencies

Russia Prepares To Buy Up To $10 Billion In Bitcoin To Evade US Sanctions

Courtesy of Zero Hedge

While the market has been increasingly focused on the rising headwinds in the global economy in general, and China's economic slowdown in particular, while the media is obsessing over daily revelations that Trump may or may not have colluded with Russia to get elected, a far more critical, if underreported, shift has been taking place over the past year.

As we reported in June, whether due to concerns over draconian western sanctions and asset confiscations following the poisoning of former Russian military officer Sergei Skripal, or simply because it wanted to diversify away from the dollar, Russia liquidated virtually all of its Treasury holdings in the late spri...



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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 failure based on his personality, which was evident years ago. This article, written in 2017, references a prescient article Bill wrote before Trump became president, in July, 2016, 5 Reasons Trump Can’t Learn. ~ Ilene 

Why Trump Can’t Learn

Donald Trump by Gage Skidmore (...



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Biotech

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 www.shutterstock.com

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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OpTrader

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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Promotions

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 >>