15:36 EDT AMAT theflyonthewall.com: Applied Materials withdraws merger filing with regulator, DealReporter says Applied Materials and Tokyo Electron have withdrawn their merger review application from China’s Ministry of Commerce, said DealReporter, according to contacts. The report quoted a Tokyo Electron spokesperson as having said the companies have "no intention to give up" on the deal, the report added, according to contacts. :theflyonthewall.com 15:33 EDT SONS theflyonthewall.com: Sonus Networks management to meet with Pacific Crest Meetings to be held in Boston on July 31 and in New York on August 1 hosted by Pacific Crest. :theflyonthewall.com 15:32 EDT BONT theflyonthewall.com: Gabelli raises stake in Bon-Ton Stores to 15.26% from 14.19% :theflyonthewall.com 15:31 EDT NTRS theflyonthewall.com: Northern Trust management to meet with Guggenheim Meeting to be held in Chicago on July 31 hosted by Guggenheim. :theflyonthewall.com 15:29 EDT MSCC theflyonthewall.com: Microsemi management to meet with Drexel Hamilton Meeting to be held in New York on July 31 hosted by Drexel Hamilton. :theflyonthewall.com 15:28 EDT MCO theflyonthewall.com: Moody's management to meet with FBR Capital Meeting to be held in San Francisco on July 31 hosted by FBR Capital. :theflyonthewall.com 15:26 EDT INAP theflyonthewall.com: Internap management to meet with Barrington Meeting to be held in Chicago on July 31 hosted by Barrington. :theflyonthewall.com 15:25 EDT theflyonthewall.com: Treasury Market Outlook: Treasury Market Outlook: A combination of European capital flight and corporate earnings misses put a bid back in bonds, with tensions heating up between Ukraine and Russia again and Amazon as well as Visa coming up shy. The as-expected rise in durable goods orders left little lasting imprint, with much of the focus across the Pond. WSJ's Hilsenrath downplayed next week's FOMC decision, but pointed ahead to "big decisions" on the statement, reinvestment and the reverse repo. PIMCO's Gross pointed to strains across the globe helping to drive down Treasury yields. :theflyonthewall.com 15:25 EDT SLP theflyonthewall.com: Simulations Plus to host conference call Conference call to discuss agreement to merge with Cognigen Corporation will be held on July 25 at 4:15 pm. Webcast Link :theflyonthewall.com 15:24 EDT RDN theflyonthewall.com: Radian Group hires Goldman for mortgage guaranty unit sale, dealReporter says According to contacts, dealReporter said Radian has hired Goldman to advise on a potential sale of its mortgage guaranty business, citing sources. :theflyonthewall.com 15:24 EDT CVD theflyonthewall.com: Covance management to meet with Sterne Agee Meeting to be held in Kansas City, MO on July 31 hosted by Sterne Agee. :theflyonthewall.com 15:22 EDT MLNX theflyonthewall.com: Mellanox management to meet with JMP Securities Meetings to be held in Denver on July 31 and in Chicago on August 1 hosted by JMP Securities. :theflyonthewall.com 15:21 EDT LVLT theflyonthewall.com: Level 3 volatility elevated into Q2 and outlook Level 3 August call option implied volatility is at 42, September is at 32, December is at 31; compared to its 26-week average of 34 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on July 29. :theflyonthewall.com 15:20 EDT HPTX theflyonthewall.com: Hyperion Therapeutics management to meet with Leerink Meeting to be held in New York on July 30 hosted by Leerink. :theflyonthewall.com 15:19 EDT SPY, DIA theflyonthewall.com: Goldman downgrades Equities to Neutral over 3 months Goldman downgraded its Equities allocation to Neutral over the next 3 months given less attractive near-term risk/reward. The firm believes a sell-off in government bonds increases equities risk near-term but continues to believe it is the best positioned asset class over the next 12 months. :theflyonthewall.com 15:18 EDT ARMH theflyonthewall.com: ARM Holdings management to meet with Benchmark Co. Meetings to be held in Kansas City, MO on July 30, in Dallas on July 31 and in San Francisco on August 1 hosted by Benchmark Co. :theflyonthewall.com 15:16 EDT $NYE theflyonthewall.com: NYSE market internals summary Volume is extremely heavy for this time of day. Breadth is mixed with issues and volume bearish while new highs to new lows are bullish (positive divergence). Advancing Issues: 1467 / Declining Issues: 2912 -- for a ratio of 0.5 to 1. Advancing Volume: 778,169,000 / Declining Volume: 1,504,445,000 -- for a ratio of 0.5 to 1. New 52-Week Highs: 116 / New 52-Week Lows: 46. :theflyonthewall.com 15:16 EDT $NSD theflyonthewall.com: NASDAQ market internals summary Volume is average for this time of day. Breadth is bearish across the board. Advancing Issues: 898 / Declining Issues: 1740 -- for a ratio of 0.5 to 1. Advancing Volume: 494,688,000 / Declining Volume: 688,883,000 -- for a ratio of 0.7 to 1. New 52-Week Highs: 45 / New 52-Week Lows: 52. :theflyonthewall.com 15:13 EDT DNKN theflyonthewall.com: Dunkin' Brands management to meet with UBS Group luncheon to be held in San Francisco on July 30 at 1:45 pm hosted by UBS. :theflyonthewall.com 15:08 EDT ESPR theflyonthewall.com: Esperion Therapeutics management to meet with JMP Securities Meetings to be held in New York on July 29 and in Boston on July 30 hosted by JMP Securities. :theflyonthewall.com 15:00 EDT FSP theflyonthewall.com: Franklin Street COO Barbara J. Fournier to retire, effective March 31, 2015 Franklin Street Properties announced that Barbara J. Fournier has decided that, effective March 31, 2015, she will retire from FSP and resign her positions as the company’s Executive Vice President, COO, Treasurer and Secretary. In addition, Fournier has decided that she will not stand for re-election to the Board of Directors upon the conclusion of her term as a Class II director at the 2015 annual meeting of stockholders. Fournier is one of the company’s original founders and has served on the Board of Directors since 2002. :theflyonthewall.com 14:58 EDT IBM theflyonthewall.com: IBM, Globalfoundries talks on chip unit end after bid rejected, Bloomberg says IBM has ended talks with Globalfoundries about a possible sale of Big Blue's chip-making unit after IBM rejected an offer that it considered too low, according to Bloomberg, citing people familiar with the matter. Reference Link :theflyonthewall.com 14:58 EDT CACG theflyonthewall.com: Tempus Intermediate Holdings reports 18.1% stake in Chart Acquisition Corp. :theflyonthewall.com 14:51 EDT QDEL theflyonthewall.com: Quidel management to meet with Piper Jaffray Meeting to be held in St. Louis on July 31 hosted by Piper Jaffray. :theflyonthewall.com 14:49 EDT AMSG theflyonthewall.com: Hellman & Friedman reports 9.38% passive stake in AmSurg :theflyonthewall.com 14:46 EDT TSN theflyonthewall.com: Tyson Foods technical commentary before earnings Shares have underperformed the broader averages over the prior three months, with a loss of over 6% in the period. At current price of $39.52, the stock is in the middle of its range for the period, which has a low at the $35 area and a high at $43. Those two boundaries are likely to be the levels tested on either a negative or positive surprise, respectively. A move down to $35 would end the current uptrend recovery from lows set in mid-June, which would have bearish implications for future price. A move to $43 while very short-term bullish would leave the stock in a neutral posture on a longer term basis near the 52-week high at $44.24. :theflyonthewall.com 14:37 EDT TERP theflyonthewall.com: Adage Capital Partners reports 8.68% passive stake in TerraForm Power :theflyonthewall.com 14:36 EDT VZ theflyonthewall.com: Verizon to slow down data speeds for top 5% of users with unlimited 4G LTE Starting in October, Verizon Wireless will extend its network optimization policy to the data users who fall within the top 5% of data users on its network, have fulfilled their minimum contractual commitment, and are on unlimited plans using a 4G LTE device. They may experience slower data speeds when using certain high bandwidth applications, such as streaming high-definition video or during real-time, online gaming, and only when connecting to a cell site when it is experiencing heavy demand. The announcement was made on the company's website. Reference Link :theflyonthewall.com 14:32 EDT ONCY theflyonthewall.com: Oncolytics Biotech files C$150M mixed securities shelf :theflyonthewall.com 14:31 EDT IBM theflyonthewall.com: IBM, Globalfoundries fail to reach deal on chip-making business, Bloomberg says :theflyonthewall.com 14:16 EDT $NYE theflyonthewall.com: NYSE market internals summary Volume is extremely heavy for this time of day. Breadth is mixed with issues and volume bearish while new highs to new lows are bullish (positive divergence). Advancing Issues: 1342 / Declining Issues: 2993 -- for a ratio of 0.4 to 1. Advancing Volume: 611,868,000 / Declining Volume: 1,343,951,000 -- for a ratio of 0.5 to 1. New 52-Week Highs: 109 / New 52-Week Lows: 45. :theflyonthewall.com 14:16 EDT $NSD theflyonthewall.com: NASDAQ market internals summary Volume is heavier than average for this time of day. Breadth is bearish across the board. Advancing Issues: 831 / Declining Issues: 1793 -- for a ratio of 0.5 to 1. Advancing Volume: 383,938,000 / Declining Volume: 687,655,000 -- for a ratio of 0.6 to 1. New 52-Week Highs: 43 / New 52-Week Lows: 48. :theflyonthewall.com 14:14 EDT CTRP theflyonthewall.com: Ctrip.com August weekly volatility elevated into Q2 and outlook Ctrip.com August weekly call option implied volatility is at 81, August is at 44, September is at 46, January is at 44; compared to its 26-week average of 50 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on July 29. :theflyonthewall.com 14:10 EDT GM theflyonthewall.com: GM mulls $37M investment in Lansing plant expansion, Detroit News says General Motors is considering a $37M investment to expand its Lansing Delta Township plant, according to the Detroit News, citing Lansing and Delta Township officials. General Motors currently builds several SUV models at the plant. Reference Link :theflyonthewall.com 14:10 EDT theflyonthewall.com: Action Economics Survey Results: Action Economics Survey Results: It's the mother of all weeks ahead, with the FOMC meeting, a plethora of key data and earnings news, along with a heavy supply calendar. As for the FOMC, it's unlikely there will be any surprises in the policy stance (a $10 B reduction in QE is pretty much a done deal), or in the forward guidance yet. But the Fed is clearly on the road to normalization. As for the data, next Friday's nonfarm payroll report headlines and the Median estimate points to a healthy 230k increase, with all estimates topping 200k. Also of interest, Q2 GDP is expected to bounce to a 3.0% growth rate, erasing the 2.9% Q1 drop. ISMs are also expected to improve. :theflyonthewall.com 14:08 EDT GLUU theflyonthewall.com: Glu Mobile August volatility elevated into Q2 and outlook Glu Mobile August call option implied volatility is at 90, September is at 74, January is at 63; compared to its 26-week average of 75 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on July 30. :theflyonthewall.com 14:06 EDT ROKA theflyonthewall.com: New Enterprise Associates reports 17.5% stake in Roka Bioscience :theflyonthewall.com 14:04 EDT GM theflyonthewall.com: General Motors large SUV sales help improve bottom line, NY Times says SUV sales at General Motors have added about $1B to the company's bottom line this year, according to the New York Times. General Motor's largest SUVs can obtain profits as high as $10,000 per vehicle, compared to smaller compact cars that contribute about $1,500-$2,000 in profits per vehicle, according to the New York Times, citing Jesse Toprak, an analyst with Cars.com. General Motors now controls more than 70% of the SUV market. Reference Link :theflyonthewall.com 13:55 EDT AAPL theflyonthewall.com: Bose sues Beats Electronics over alleged patent infringement Bose Corporation filed a lawsuit requesting that the International Trade Commission commence an investigation to "remedy the unlawful importation" into the U.S. and/or sale within the U.S. of certain noise canceling headphones and components from Beats Electronics that are alleged to infringe one or more valid and enforceable U.S. patents owned by Bose. Beats Electronics has agreed to be acquired by Apple. Reference Link :theflyonthewall.com 13:50 EDT theflyonthewall.com: Treasury Action: no real concession have been made ahead of upcoming supply Treasury Action: no real concession have been made ahead of upcoming supply. And with the FOMC moving ever closer to the exit, the auctions may not fare well. Treasury is selling $93 B in short dated coupons, along with a $15 B 2-year FRN. The size of the 2-year was shaved by $1 B to $29 B and though the wi trades at 0.535%, which would be the cheapest stop in several years, Fed tightening prospects may leave traders sidelined. The auction is Monday. The $35 B 5-year is at 1.71%, which also would be one of the highest award rates in three years, the note could be hurt as well by the impending cessation of QE purchases (October). The auction is Tuesday. The 7-year will be auctioned Wednesday. It's trading at 2.15%, which is about mid-range of stop-outs over the past 12 months. This could be the best of the auctions thanks to possible month-end buying. :theflyonthewall.com 13:42 EDT P theflyonthewall.com: Pandora tumbles after guidance miss but analysts remain upbeat Shares of music streaming company Pandora (P) are falling after the company reported a slightly higher than expected second quarter profit and in-line revenue, but the midpoint of its third quarter profit guidance came in below analysts' consensus estimate. A number of analysts recommended buying the stock on its weakness today. WHAT'S NEW: Pandora reported second quarter earnings per share of 4c, compared with analysts' consensus estimate of 3c. The company's revenue was in-line with expectations and its total listening hours rose 29% year-over-year. However, the music streaming company provided Q3 EPS guidance of 5c-8c, versus analysts' consensus outlook of 8c. Pandora, however, raised its full-year EPS guidance to 16c-19c from 14c-18c, versus the consensus outlook of 17c. ANALYST REACTION: In a note to investors, Piper Jaffray analyst James Marsh recommended that investors buy Pandora on weakness today. The company is very much on track, as it posted solid listener growth and its monetization is quickly improving, Marsh stated. Pacific Crest analyst Corey Barrett also recommended that investors buy Pandora today. The company's advertising sales per sales employee has risen in each of the past two quarters, versus the same period a year earlier, the analyst wrote. As a result, Barrett is confident that the company can increase its monetization sufficiently to meet its updated 2014 guidance. Barrett kept a $45 price target and Outperform rating on the shares. PRICE ACTION: In mid-afternoon trading, Pandora sank $3.50, or 12%, to $25. :theflyonthewall.com 13:40 EDT EQR, AVB theflyonthewall.com: AvalonBay signals could be indicator for Equity Residential, says BWS Financial BWS Financial noted that AvalonBay (AVB) and Equity Residential (EQR) overlap in markets and the firm believes AvalonBay's signs of growth could be a barometer for Equity Residential’s report, which is due next Tuesday. BWS remains positive on Equity Residential and maintains it $70 price target on the stock. :theflyonthewall.com 13:38 EDT ECA theflyonthewall.com: Encana upgraded to Buy from Hold at Societe Generale :theflyonthewall.com 13:17 EDT K theflyonthewall.com: Kellogg increases dividend by 6.5% to 49c Kellogg announced that its Board of Directors declared a dividend of 49c per share on the common stock of the company. As the company previously announced in April, this reflects a 6.5% increase to the quarterly dividend. The dividend is payable on September 15 to shareowners of record at the close of business on September 2. The ex-dividend date is August 28. :theflyonthewall.com 13:16 EDT $NYE theflyonthewall.com: NYSE market internals summary Volume is extremely heavy for this time of day. Breadth is mixed with issues and volume bearish while new highs to new lows are bullish (positive divergence). Advancing Issues: 1412 / Declining Issues: 2866 -- for a ratio of 0.5 to 1. Advancing Volume: 561,189,000 / Declining Volume: 1,065,308,000 -- for a ratio of 0.5 to 1. New 52-Week Highs: 103 / New 52-Week Lows: 41. :theflyonthewall.com 13:16 EDT $NSD theflyonthewall.com: NASDAQ market internals summary Volume is extremely heavy for this time of day. Breadth is bearish across the board. Advancing Issues: 867 / Declining Issues: 1712 -- for a ratio of 0.5 to 1. Advancing Volume: 362,889,000 / Declining Volume: 552,092,000 -- for a ratio of 0.7 to 1. New 52-Week Highs: 40 / New 52-Week Lows: 44. :theflyonthewall.com 13:13 EDT LRCX, RAD, MNK, QCOR, AAPL, MU, MRVL theflyonthewall.com: Einhorn bought Lam Research shares, sold Rite Aid last quarter Well-known investor David Einhorn said his hedge fund, Greenlight Capital, had taken a new long position last quarter in Lam Research (LRCX), which develops equipment for semiconductor companies. Also last quarter, Greenlight sold out of its position in Rite Aid (RAD), Einhorn revealed. WHAT'S NEW: Greenlight made a "medium-sized" new investment in Lam Research, Einhorn revealed in his quarterly letter to investors. As the size of transistors shrink, chip makers must run each layer of chips through the manufacturing line multiple times until they work properly, the investor stated. Consequently, the chip makers must buy more of Lam's tools for each manufacturing line, Einhorn explained. The valuations of many high momentum stocks in the tech sector are excessive, but not all tech stocks are too expensive, Einhorn contended. A number of tech stocks - including Apple (AAPL), Lam Research, Marvell Technology (MRVL) and Micron Technology (MU) - "have strong prospects and are undervalued," Einhorn declared. Greenlight holds long positions in all those stocks. Greenlight sold its position in Rite Aid because the company's sales and profits rose, as the hedge fund had expected, and the stock reached fair value, Einhorn explained. WHAT'S NOTABLE: Greenlight continues to be short Questcor (QCOR), which has "a laundry list of problems and risks," the investor said. Among these are ongoing criminal probes and a large number of adverse events, including deaths, experienced by a number of patients who were taking the company's only drug, Acthar, Einhorn wrote. Additionally, a number of insurers have moved towards limiting their reimbursement of the drug, he added. The FDA is examining lab reports which suggest that Questcor's product does not include a highly purified form of Acthar as promoted by the company but a degraded form of the drug, the investor alleged. Mallinckrodt Pharmaceuticals (MNK), which has agreed to buy Questcor, is not properly evaluating the risks of Questcor's drug, Einhorn stated. Mallinckrodt "is setting itself up to be a very attractive short sale candidate if the merger is completed," Einhorn believes. PRICE ACTION: In early afternoon trading, Lam Research lost 1.5% to $69, Rite Aid slid 3.5% to $7, Questcor lost 2% to $95, and Mallinckrodt dropped 3% to $74.50. :theflyonthewall.com 13:09 EDT theflyonthewall.com: Over 15K Russian troops built up along Ukraine border, Reuters says Reuters stated on Twitter that more than 15,000 Russian troops are now amassed along the border with Ukraine, citing the U.S. ambassador to NATO. Reference Link :theflyonthewall.com 13:03 EDT DEST theflyonthewall.com: Destination Maternity withdraws proposal to combine with Mothercare Destination Maternity announces that it does not intend to make an offer for Mothercare plc and is withdrawing its proposal for a possible combination with Mothercare. On July 2, Destination Maternity made an announcement confirming its interest in a possible combination with Mothercare and confirming its submission of two non-binding written proposals for a possible combination, both of which had been rejected by the Board of Directors of Mothercare. This announcement was required by the UK Takeover Code in light of press speculation at the time regarding Destination Maternity's interest in a possible combination with Mothercare. Following the July 2 announcement, Destination Maternity's financial adviser canvassed the views of shareholders who hold a substantial proportion of Mothercare shares. While Destination Maternity believes that its proposal was compelling, it is clear that the shareholders of Mothercare believe that only a very significant increase in the value of such proposal would be acceptable. In light of this and considering Destination Maternity has not been permitted by the Mothercare Board to conduct customary due diligence, Destination Maternity is unwilling to increase the value of its proposal and has therefore decided to withdraw its proposal. :theflyonthewall.com 13:03 EDT CBI theflyonthewall.com: Prescience Point keeps Strong Sell on Chicago Bridge & Iron Prescience Point via Twitter said it keeps a Strong Sell rating on shares of Chicago Bridge & Iron with a $37.50 price target. "The deceptions continue, but the charade is over," the short selling firm stated. It added, "Conference call leaves investors with more questions than answers. story has more holes than a brick of swiss cheese." :theflyonthewall.com 13:03 EDT BHI theflyonthewall.com: Baker Hughes reports U.S. rig count up 12 to 1883 rigs Baker Hughes announced that the U.S. Rig Count is up 12 rigs from last week to 1883, with oil rigs up 8 to 1562, gas rigs up 3 to 318, and miscellaneous rigs up 1 to 3. Says the U.S. Rig Count is up 107 rigs from last year at 1776, with oil rigs up 161, gas rigs down 51, and miscellaneous rigs down 3. The U.S. Offshore rig count is 60, up 3 rigs from last week, and up 2 year over year. :theflyonthewall.com 13:02 EDT YNDX theflyonthewall.com: Yandex August weekly volatility elevated into Q2 and outlook Yandex August weekly call option implied volatility is at 77, August is at 50, September is at 41, January is at 39; compared to its 26-week average of 47 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on July 29. :theflyonthewall.com 12:54 EDT SBGI theflyonthewall.com: Roystone Capital reports 5.3% passive stake in Sinclair Broadcast :theflyonthewall.com 12:51 EDT AMZN, V, P, WCG, VRSN, MLNX, DTLK, SWFT theflyonthewall.com: On The Fly: Midday Wrap Stocks on Wall Street were lower at midday and on track to end a week marked by a torrent of earnings reports on a definite down note. Some high-profile disappointments weighed on the major averages, as Visa (V) and Amazon.com (AMZN) both fell significantly after their quarterly reports last night, dragging on the Dow and Nasdaq, respectively. The domestic economic calendar’s sole release of consequence, the durable goods orders report, came out before the open and was better than expected, but that did little to brighten the market's negative tone. ECONOMIC EVENTS: In the U.S., durable goods orders rebounded 0.7% in June after a 1.0% decline in the prior month, beating expectations for June increase of 0.5%. COMPANY NEWS: Shares of Amazon.com fell 10% after the e-commerce giant reported in-line second quarter revenue but a much higher than expected loss. A number of analysts responded to the news by downgrading the stock, while several others cut their price targets on the shares... Visa reported Q3 earnings per share and revenue that topped consensus forecasts, but its fiscal year EPS growth outlook was trimmed its fiscal year revenue growth view to be in the 9-10% range from its prior forecast for low double-digit constant revenue growth in the 10-11% range. Shares of the Dow Jones Industrial Average component slid 4% following the report and guidance. MAJOR MOVERS: Among the notable gainers following their earnings reports were Datalink (DTLK), which jumped 17%, Mellanox (MLNX), which rose 13%, and VeriSign (VRSN), which gained 11%. Among the noteworthy losers was WellCare (WCG), which plunged 20% after the managed care company pre-announced significantly weaker than expected results. Also lower following their earnings reports were Swift Transport (SWFT), which fell nearly 15%, and Pandora (P), which dropped about 13%. INDEXES: Near midday, the Dow was down 131.61, or 0.77%, to 16,952.19, the Nasdaq was down 24.45, or 0.55%, to 4,447.66, and the S&P 500 was down 9.04, or 0.45%, to 1,978.94. :theflyonthewall.com 12:49 EDT GOOG theflyonthewall.com: YouTube could name music subscription service 'MusicKey,' GigaOM reports YouTube's upcoming music subscription service could be called "MusicKey," GigaOM reports, which cited Domain Name Wire and "around a dozen" domain name registrations. Reference Link :theflyonthewall.com 12:18 EDT SWY, QCOR, MLM, GMCR, MNK theflyonthewall.com: Greenlight discloses short positions in Safeway, Questcor, Bloomberg says Greenlight is also short Keurig Green Mountain (GMCR) and Martin Marietta (MLM) and said that Mallinckrodt (MNK) may be an "attractive" short if its deal with Questcor closes, according to Bloomberg, citing the fund's quarterly letter to investors. :theflyonthewall.com 12:16 EDT $NYE theflyonthewall.com: NYSE market internals summary Volume is extremely heavy for this time of day. Breadth is mixed with issues and volume bearish while new highs to new lows are bullish (positive divergence). Advancing Issues: 1332 / Declining Issues: 2884 -- for a ratio of 0.5 to 1. Advancing Volume: 448,521,000 / Declining Volume: 908,395,000 -- for a ratio of 0.5 to 1. New 52-Week Highs: 90 / New 52-Week Lows: 38. :theflyonthewall.com 12:16 EDT $NSD theflyonthewall.com: NASDAQ market internals summary Volume is light for this time of day. Breadth is bearish across the board. Advancing Issues: 775 / Declining Issues: 1800 -- for a ratio of 0.4 to 1. Advancing Volume: 286,465,000 / Declining Volume: 478,193,000 -- for a ratio of 0.6 to 1. New 52-Week Highs: 39 / New 52-Week Lows: 43. :theflyonthewall.com 12:12 EDT LRCX, AAPL, MRVL theflyonthewall.com: Einhorn takes stake in Lam Research, Bloomberg reports David Einhorn said in his Q2 letter to investors in his Greenlight Capital fund that not all tech is in a bubble and that Lam Research (LRCX), Apple (AAPL) and Marvell (MRVL) are undervalued, according to Bloomberg. :theflyonthewall.com 12:11 EDT AET, CI, UNH, WCG, WLP theflyonthewall.com: WellCare profit warning sinks managed care names A number of managed care names are falling after one of the companies in the sector, WellCare (WCG), preannounced significantly weaker than expected results. UBS, however, recommends using the weakness in the sector as a buying opportunity. WHAT'S NEW: WellCare, which specializes in managing Medicaid and Medicare plans, preannounced a second quarter per share loss of 7c, excluding certain items. Analysts on average expected the company to report a per share profit of 90c. The company's revenue came in slightly above expectations. WellCare cut its full-year earnings per share guidance to $2.20-$2.50 from $4.40-$4.75. The company said recipients of a new Medicaid program in Florida utilized more medical services than expected since the company began administering the program in May. Additionally, the company took an impairment charge related to an acquisition and it had an unfavorable reserve development. ANALYST REACTION: The factors cited by WellCare for the cut in its guidance appear to be specific to that company, UBS analyst A.J. Rice wrote. Meanwhile, data from other companies that administer Medicaid plans indicate that the increased utilization costs in that state are also specific to WellCare, Rice contended. For example, Centene (CNC) reported Q2 results earlier this week and indicated that utilization trends for newly covered beneficiaries in Florida was largely in line with expectations, while UnitedHealth (UNH) said its Medicaid business had performed well last quarter, the analyst stated. Additionally, WellCare said that its higher than expected medical utilization costs had been caused primarily by drug costs that exceeded its forecast, Rice stated. Since drug costs tend to be known relatively quickly, United Health and Centene would have divulged any issues with drug costs in conjunction with their Q2 results, Rice said. The analyst recommended that investors buy Aetna (AET), Cigna (CI), United Health and WellPoint (WLP) on any weakness today. PRICE ACTION: In late morning trading, Aetna fell 1.5% to $83, Cigna lost 1% to $95.50, UnitedHealth lost 1% to $84.50, WellPoint slid 1.5% to $113.50 and Centene tumbled 7% to $74 while WellCare plunged 19% to $62. :theflyonthewall.com 12:09 EDT TWTR, LULU theflyonthewall.com: Stocks with call strike movement; TWTR LULU Twitter (TWTR) December 47 call option implied volatility increased 2% to 52, lululemon (LULU) January 47.5 call option implied volatility increased 2% to 37 according to IVolatility. :theflyonthewall.com 12:03 EDT OMAB theflyonthewall.com: OMA Airports to build new terminal for Acapulco Airport OMA Airports announces that it will invest more than Ps. 350M in the first phase of a new passenger terminal for the Acapulco International Airport. The investment is included in the Master Development Plan for the airport. The new building will be designed to serve up to 1M passengers per year, with the ability to expand capacity to 2M in the medium term. Construction will adhere to high standards of efficiency and quality, offering ample, comfortable spaces for domestic and international airlines, passengers, authorities, and service providers. The existing terminal building will be demolished. The initial phase of work will include logistical work and partial closure of the airport, without affecting service or airport operations. This phase is scheduled to begin in 4Q14 and be completed in the first months of 2015. :theflyonthewall.com 12:02 EDT AJG theflyonthewall.com: Arthur J. Gallagher names Vishal Jain as Chief Service Officer Arthur J. Gallagher & Co. announced that Vishal Jain, who currently oversees the company's service center operations, has been appointed Chief Service Officer. In addition, the company's board has appointed Jain a corporate VP. Since 2004, Jain has been instrumental in the establishment, ramp up and ongoing management of the Gallagher Service Center. :theflyonthewall.com 12:02 EDT LRCX theflyonthewall.com: Rumor: Lam Research moves off lows on speculation of an investor stake :theflyonthewall.com 11:59 EDT PLKI theflyonthewall.com: Popeyes Louisiana Kitchen management to meet with Piper Jaffray Meeting to be held in Boston on July 31 hosted by Piper Jaffray. :theflyonthewall.com 11:59 EDT SCTY theflyonthewall.com: Stocks with call strike movement; MNKD SCTY NRG Energy (MNKD) November 10 call option implied volatility increased 3% to 86, SolarCity (SCTY) January 85 call option implied volatility increased 2% to 55 according to IVolatility. :theflyonthewall.com 11:56 EDT SAL theflyonthewall.com: Salisbury Bancorp reports Q2 EPS 54c vs. 65c a year ago The net interest margin increased 2 basis points versus first quarter and increased 20 basis points versus second quarter 2013. :theflyonthewall.com 11:56 EDT DAL, HD theflyonthewall.com: Delta Air Lines names Home Depot CEO Frank Blake to board of directors :theflyonthewall.com 11:55 EDT theflyonthewall.com: Another leg lower on U.S. stocks tracked Europe Another leg lower on U.S. stocks tracked Europe where equities hit the skids, lurching lower heading to the home stretch ahead of the weekend. The Euro Stoxx 50 is off 1.3%, while France's CAC is off 1.6%. Russian stocks remain underwater as well, with the MICEX off 1.5% and the RTS 1.7% lower on fears about even deeper sanctions as mortar rounds get lobbed back and forth across the border of Eastern Ukraine. The major U.S. indices are 0.5-0.7% lower as a result following earnings misses at Amazon and Visa, which soured sentiment overnight. Indeed, the biggest decliners in the Dow are Visa -4.8%, UnitedHealth -1.6% and AMEX -1.5%, while Verizon and McDonald's are 0.3% firmer. :theflyonthewall.com 11:52 EDT CMI theflyonthewall.com: Cummins technical notes ahead of earnings The shares have underperformed the broader averages in the prior three months, rising 2.5%. On a longer-term basis, 1-year chart, the trend has already begun to turn bearish. Price is below the 10, 30, and 50-day moving averages. The $150 area, near where shares are currently trading, is an important support level. A break below $150 would confirm a shift in bearish trend from short to intermediate-term. On a disappointment support below $150 on an increasing scale of negative news would be at $148.49, $145.20, and $140.62. All of those potential downside targets are pivot lows on a closing basis. If the news surprises, next resistance up would be at the 10-day moving average at $152.63 - the 10-day moving average, $154.72 - the 30-day moving average, and $157.75. :theflyonthewall.com 11:48 EDT BLDR theflyonthewall.com: Builders FirstSource says will continue to seek acquisitions Says primarily seeking acquisitions in the $10M-$50M range. Says Q3 will look "a lot like Q2," with sales better on a year over year basis. Sees FY14 CapEx $18M-$20M. Comments from Q2 earnings conference call. :theflyonthewall.com 11:47 EDT DCM theflyonthewall.com: NTT DoCoMo upgraded to Buy from Neutral at Nomura :theflyonthewall.com 11:44 EDT HYGS theflyonthewall.com: Hydrogenics selected by Ontario for energy storage facility Hydrogenics announced that it has been selected as a Preferred Respondent by the Independent Electricity System Operator for Ontario in its procurement for Grid Energy Storage. This Power-to-Gas project will deliver 2MW of storage capacity and be located in the Greater Toronto Area. Hydrogenics will supply the facility's next-generation PEM electrolyzers and is partnering with Enbridge Inc. to develop, build and operate the energy storage facility to provide regulation services to the IESO under contract. :theflyonthewall.com 11:43 EDT MNKD theflyonthewall.com: MannKind to announce partnership 'within weeks,' TheStreet says MannKind is "almost certainly pushing very hard" to get a partnership deal for its Afrezza inhaler closed before it must report on its second quarter results, if it is close to signing one, contended TheStreet's Adam Feuerstein, who said that holding a conference call in August with "nothing concrete to say about an Afrezza deal would be damaging to MannKind." Reference Link :theflyonthewall.com 11:41 EDT FLIC theflyonthewall.com: First Long Island reports Q2 EPS 60c, consensus 60c :theflyonthewall.com 11:35 EDT theflyonthewall.com: FX Action: USD-CAD pushed through the 1.0800 mark FX Action: USD-CAD pushed through the 1.0800 mark, with buyers stepping in earlier over 1.0770. The pairing had topped out in the 1.0760's for the previous six sessions, but deteriorating risk taking levels have been enough to take the pairing to better than one-month highs of 1.0814. Stops were a factor over the figure, while bids reportedly parked at 1.0800, were either quickly filled, though more likely pulled on the break of 1.0770, and on the back of diving equities. The June high of 1.0836 is the next resistance level. :theflyonthewall.com 11:32 EDT FSNN theflyonthewall.com: Fusion Telecommunications management to meet with Craig-Hallum Meeting to be held in Minneapolis on July 31 hosted by Craig-Hallum. :theflyonthewall.com 11:29 EDT DECK, NKE, UA, SKX theflyonthewall.com: Deckers Outdoor climbs higher after Q1 results, increased FY outlook Shares of footwear company Deckers Outdoor (DECK) are climbing higher after the company reported first quarter earnings per share and revenue that exceeded analysts' consensus along with an increased FY15 EPS and revenue outlook. WHAT'S NEW: Deckers said its Q1 loss per share was $1.07, which was better than analysts' consensus of a $1.28 per share loss. Revenue for the quarter was $211.5M, exceeding analysts' consensus estimates of $192.01M. The company's direct-to-consumer comparable sales were up 10% in Q1 and UGG brand net sales for the quarter were up 22.8% to $123.3M. Teva brand net sales in Q1 were up 25.7% to $39.3M and its Sanuk brand net sales were up 19.6% to $36M. Deckers' Q1 combined net sales of the company's other brands increased 54.5% to $12.9M. Sales for the global retail store business increased 29.4% to $42M. Looking ahead, Deckers now expects fiscal year 2015 EPS to increase approximately 14.5% from previous guidance of up 13.5% and expects FY15 revenues to increase about 14%, up from the previous guidance of 13%. The consensus estimate for EPS and revenue are $4.69 and $1.8B, respectively. Deckers now expects FY15 UGG brand revenues to increase approximately 12% over the prior year from the previous guidance of 11% and predicts FY15 Teva brand revenues will increase approximately 11% over the prior year. The company expects FY15 Sanuk brand revenues to increase approximately 15% compared to the prior year. Combined FY15 net sales of the company's other brands are expected to be approximately $82M. The company's guidance assumes a gross profit margin of approximately 49%, an operating margin of approximately 13%. and an effective tax rate of about 29%. WHAT'S NOTABLE: The company expects second quarter EPS of approximately 98c against analysts' estimates of $1.13 and sees revenues for the quarter up about 18% from the year ago period against estimates of $441.17M. ANALYST REACTION: Jefferies analyst Randal Konlk upgraded Deckers to Buy from Hold after the firm said it has more conviction of the company's margin expansion potential in FY15. The analyst believes that the company's market undervaluing the sequential upward potential at the moment from new product reveals could contribute an incremental $150M-$250M in revenue over the next 1-2 years. The firm increased its price target for Deckers to $130 from $78. ISI Group, which raised its price target on shares to $105 from $95, believes Deckers investments are beginning to drive more consistent sales results and driving it into a lifestyle brand. Citigroup also raised its price target on Deckers, to $105 from $94, following the better than anticipated Q1 results and guidance. PRICE ACTION: During late-morning trading, shares of Deckers were up $5.60 or 6.57%, to $90.84. OTHERS TO WATCH: Other running shoe makers include Nike (NKE), Under Armour (UA) and Skechers (SKX). :theflyonthewall.com 11:22 EDT OREX, TLM, BG theflyonthewall.com: Options with increasing implied volatility: OREX TLM IP BG :theflyonthewall.com 11:20 EDT OCUL theflyonthewall.com: Ocular Therapeutix opens at $13.00, IPO priced at $13.00 :theflyonthewall.com 11:20 EDT PHG, MS theflyonthewall.com: Philips selects Morgan Stanley for lighting unit stake sale, Reuters says Philips (PHG) selected Morgan Stanley (MS) to help the company as it looks to sell a stake in its lighting components division, according to Reuters, citing three people familiar with the matter. Reference Link :theflyonthewall.com 11:16 EDT $NYE theflyonthewall.com: NYSE market internals summary Volume is extremely heavy for this time of day. Breadth is mixed with issues and volume bearish while new highs to new lows are bullish (positive divergence). Advancing Issues: 1303 / Declining Issues: 2779 -- for a ratio of 0.5 to 1. Advancing Volume: 302,406,000 / Declining Volume: 620,552,000 -- for a ratio of 0.5 to 1. New 52-Week Highs: 77 / New 52-Week Lows: 28. :theflyonthewall.com 11:16 EDT $NSD theflyonthewall.com: NASDAQ market internals summary Volume is very light for this time of day. Breadth is bearish across the board. Advancing Issues: 692 / Declining Issues: 1806 -- for a ratio of 0.4 to 1. Advancing Volume: 155,553,000 / Declining Volume: 378,032,000 -- for a ratio of 0.4 to 1. New 52-Week Highs: 35 / New 52-Week Lows: 37. :theflyonthewall.com 11:13 EDT BX theflyonthewall.com: Blackstone in discussions to acquire 8 building in Italy, Bloomberg says Blackstone is said to be in exclusive discussions to purchase eight buildings in Italy for approximately $336M in a sale-and-leaseback agreement, according to Bloomberg, citing two people with knowledge of the matter. The sources said that the nine-year leases on the properties will be paid by the country's public property agency, Agenzia del Demanio. Reference Link :theflyonthewall.com 11:08 EDT OCUL theflyonthewall.com: Ocular Therapeutix indicated to open at $12.68 :theflyonthewall.com 11:08 EDT INO, PBYI, MLNX, DECK, INFN, CMG, QLIK, LXK, ANGI, NFLX theflyonthewall.com: Options with decreasing implied volatility Options with decreasing implied volatility: INO PBYI MLNX DECK INFN CMG QLIK LKX ANGI NFLX :theflyonthewall.com 11:07 EDT OCUL theflyonthewall.com: Ocular Therapeutix indicated to open at $13.00 Ocular Therapeutix (OCUL) priced 5M shares at $13.00. Morgan Stanley, Cowen and RBC Capital acted as joint book running managers for the offering. :theflyonthewall.com 11:06 EDT Z, TRLA, PCLN theflyonthewall.com: Zillow, Trulia continue climb after takeover talks report seen as 'credible' Shares of online real estate listing companies Zillow (Z) and Trulia (TRLA) are climbing for a second session in a row after Bloomberg reported yesterday that Zillow was negotiating to buy Trulia. WHAT'S NOTABLE: Zillow is in talks to acquire Trulia and a deal could be announced as soon as next week, Bloomberg reported yesterday afternoon, citing unnamed sources. The deal could value Trulia at up to $2B, the news service added. ANALYST REACTION: The Bloomberg story is "credible," as there is a "compelling" rationale for the companies to combine, Deutsche Bank analyst Lloyd Walmsley wrote. Based on the valuation at which Priceline (PCLN) acquired OpenTable, Trulia would be acquired at about $63 per share, the analyst wrote. Trulia and Zillow together would be worth a combined total of about $10B, representing a 25% increase over yesterday's closing prices, Walmsley estimated. Consolidation in the online real estate ad space would be logical ,as it could result in the creation of a true marketplace, the analyst believes. Such a marketplace could charge prices several times above current levels and create significant revenue synergies, the analyst contended. Additionally, a merger between the companies would enable them to significantly cut their marketing expenses, according to Walmsley, who kept a $42 price target and Buy rating on Trulia and a $78 price target and Hold rating on Zillow. PRICE ACTION: In mid-morning trading, Trulia rose 2.5% to $55.10 and Zillow advanced 5% to $153.24. Trulia is up over 35% since yesterday's open, while Zillow has gained over 20%. :theflyonthewall.com 11:03 EDT C theflyonthewall.com: Citigroup unit LavaFlow to pay $5M in settlement with SEC The Securities and Exchange Commission has charged a Citigroup business unit operating an alternative trading system with failing to protect the confidential trading data of its subscribers. New York-based LavaFlow Inc. has agreed to pay $5M to settle the SEC’s charges, including a $2.85M penalty that is the agency’s largest to date against an ATS. According to the SEC’s order instituting a settled administrative proceeding, LavaFlow allowed an affiliate operating a technology application known as a smart order router to access and use confidential information related to the non-displayed orders of LavaFlow’s ECN’s subscribers. While LavaFlow only allowed the affiliate to use the confidential trading data for order router customers who also were ECN subscribers, the firm did not obtain consent from its subscribers to use their confidential information in this way, nor did LavaFlow disclose the use in its regulatory filings with the SEC. In addition to the Regulation ATS violations, the SEC’s order finds that LavaFlow aided and abetted a violation by the same affiliate that operated the smart order router, Lava Trading Inc., which continued to provide broker-dealer services for several months after it deregistered in August 2008. :theflyonthewall.com 11:00 EDT XRX theflyonthewall.com: Xerox sees FY14 restructuring charges similar to last year Says charges may be "a tad higher." :theflyonthewall.com 10:57 EDT VRS theflyonthewall.com: Verso Paper postpones special meeting to August 12 Verso Paper announced that it has postponed the previously scheduled special meeting of its stockholders from July 30 to August 12. Verso also set a record date of August 4 for the rescheduled stockholders meeting. The rescheduled meeting date is meant to allow Verso to provide its stockholders with updated information regarding the debt exchange offers being conducted by two of its subsidiaries, the company stated. :theflyonthewall.com 10:56 EDT FTI theflyonthewall.com: FMC Technologies discloses receipt of SEC subpoena in Q2 FMC Technologies disclosed that during the second quarter, the company received an inquiry and a subpoena from the SEC seeking information about certain accruals for paid time off , or PTO, during the first quarter of 2013. The company has cooperated and fully responded to the requests for information. The inquiry is with regard to the reversal of an accrual for PTO that caused the liability for PTO to be understated for the quarter ended March 31, 2013. During the second quarter of 2013, the company identified and corrected the understatement of the PTO liability and assessed and concluded that the correction was not material, or $0.6M, net of tax, to the company’s consolidated financial statements for the quarters ended March 31 and June 30, 2013, respectively. The company discussed the matter with its independent registered public accounting firm and the company’s Audit Committee, FMC stated. :theflyonthewall.com 10:55 EDT LSCC, NU, JONE, DEO, MXIM, SWFT, INFA, CERN, VRS, ABC theflyonthewall.com: High option volume stocks High option volume stocks: LSCC NU JONE DEO MXIM SWFT INFA CERN VRS ABC :theflyonthewall.com 10:53 EDT GM theflyonthewall.com: General Motors falls on state AG investigations, downgrades The shares are down over 2.2% to $34.93 after word earlier that 45 state Attorney Generals were investigating the company's ignition switch recalls, noting that "Such investigations could in the future result in the imposition of material damages, fines or civil and criminal penalties." Deutsche Bank downgraded the shares to Hold, CLSA took its recommendation down to Outperform. At current price, next support is at $34.45 and then at $33.07. Resistance is at $35.15. :theflyonthewall.com 10:52 EDT AET, CI, WLP, WCG, CNC, HUM theflyonthewall.com: WellCare issues largely company-specific, says UBS UBS notes that aside from WellCare (WCG), which attributed its lowered guidance to the start-up of its Florida MMA program and other issues, that Centene (CNC), WellPoint (WLP), UnitedHealth (UNH) and Humana (HUM) are the leaders in Medicaid in the state. However, the firm believes a majority of WellCare's issues appear company specific and UBS views any weakness in UnitedHealth, WellPoint, Aetna (AET), or Cigna (CI) as opportunity to buy those four stocks, on all of which it has Buy ratings. :theflyonthewall.com 10:51 EDT INNL theflyonthewall.com: Innocoll opens at $9.00, IPO priced at $9.00 Innocoll (INNL) priced 6.35M shares at $9.00. Piper Jaffray and Stifel acted as joint book running managers for the offering. :theflyonthewall.com 10:45 EDT theflyonthewall.com: In a recap for bond bulls, PIMCO's Gross Tweeted: In a recap for bond bulls, PIMCO's Gross Tweeted: "Why are Treasury yields down? S. America/Euroland on ropes, Japan/China in credit frenzy, Russia nearing recession. Mideast at war. Anything else?" Well, Bill, how about tame core CPI, month-end index extension, curve flatteners and dull FOMC expected next week? :theflyonthewall.com 10:38 EDT HYMLF theflyonthewall.com: NHTSA looks into Hyundai Sonata air bag issue, AP says The National Highway Traffic Safety Administration is looking into whether an electrical issue could potentially knock out the air bags on some older Hyundai Sonata models and says that it has received nearly 83 complaints about the defect, reported the Associated Press. The investigation pertains to 394,000 midsize vehicles from the 2006 through 2008 model years. Reference Link :theflyonthewall.com 10:33 EDT AMZN theflyonthewall.com: Amazon sinks after greater than expected losses, several downgrades Shares of e-commerce giant Amazon (AMZN) are falling after the company reported in-line second quarter revenue but a much higher than expected loss. A number of analysts responded to the news by downgrading the stock, while several others cut their price targets on the shares. WHAT'S NEW: Amazon reported a Q2 per share loss of (27c), compared with analysts' consensus outlook for losses per share of (15c). The company provided third quarter revenue guidance of $19.7B-$21.5B, versus the consensus outlook of $20.8B. The e-commerce giant's operating margin came in at (0.1%), down from 0.7% during the previous quarter. Amazon noted that it had significantly cut prices on its cloud offerings and had launched many new initiatives. ANALYST REACTION: In notes to investors earlier today, CRT Capital downgraded Amazon.com to Fair Value from Buy, while B. Riley lowered its rating on the stock to Neutral from Buy and Raymond James downgraded the stock to Market Perform from Outperform. JPMorgan analyst Doug Anmuth responded to the news by cutting his price target on the stock to $340 from $350. The company's operating income guidance indicates that its margins will decline significantly as it makes additional investments in several areas, the analyst believes. He predicted that the stock would drop in the near-term and kept a Neutral rating on the shares. Similarly, Citigroup cut its price target on the shares to $358 from $395. Amazon's Q3 margin guidance was worse than expected and the company's increased investments will make it difficult for the stock to outperform. The firm kept a Neutral rating on the shares. More upbeat on the stock was Cantor Fitzgerald analyst Youssef Squali, who wrote that Amazon's results were "generally good." The company's core retail North American business is continuing to improve significantly, Squali believes. Given this trend and the company's large global opportunity, its investments are justified, the analyst contended. He trimmed his price target on the shares to $400 from $425 but kept a Buy rating on the stock. PRICE ACTION: In early trading, Amazon fell 11.3% to $318.14. :theflyonthewall.com 10:31 EDT UAL theflyonthewall.com: United Continental spikes higher, levels to watch The shares spiked higher from the open, last trading up over 6.2% to $47.74. At that price the stock is not far from its 52-week high at $49.28, which is resistance. Support is at $46.90. :theflyonthewall.com 10:31 EDT LTM theflyonthewall.com: Life Time Fitness downgraded to Buy from Strong Buy at Feltl :theflyonthewall.com 10:30 EDT FCX theflyonthewall.com: Freeport announces resumption of exports from Indonesian subsidiary Freeport-McMoRan announced that its Indonesian subsidiary PT Freeport Indonesia received approval from the Government of Indonesia to resume exports of copper concentrates. PT-FI will resume full operations immediately and concentrate exports are expected to commence in August 2014. PT-FI has entered into a Memorandum of Understanding with the Government of Indonesia under which the Government and PT-FI have agreed to negotiate an amended Contract of Work, to be completed over the next six months, to address provisions related to the size of concession area, royalties and taxes, domestic processing and refining, divestment, local content, and continuation of operations post-2021. Effective with the signing of the MOU, PT-FI has agreed to pay export duties set forth in a new regulation issued in July, to provide a $115M assurance bond to support its commitment for smelter development and to increase royalties to 4.0% for copper and 3.75% for gold from the current rates of 3.5% for copper and 1% for gold. On July 25, the Government revised its January regulations regarding export duties to incorporate reduced rates for copper concentrate exports for companies engaged in smelter development. The revised regulations provide for duties on copper concentrate exports during smelter development initially at 7.5%, declining to 5% when development progress exceeds 7.5% and 0% when development progress exceeds 30%. PT-FI and the Government will commence immediate negotiations for an amended COW that is expected to be completed within six months. No terms of the COW other than the duties, smelter bond and royalties described above will be changed until the completion of the amended COW. :theflyonthewall.com 10:30 EDT XRX theflyonthewall.com: Xerox expects to return $1B to shareholders this year CEO Burns says seeing "bright spots, positive trends," but says still has more work to do. Says dealing with challenging Medicare contracts. Says will repurchase shares at a steady pace. Says sees better signing results in the coming quarters. Sees lower revenue for Document Technology in Q3. Says acquisition pipeline "looks good." Expects to spend up to $500M on acquisitions in FY14. Sees about $300M in dividend payments for the FY. Comments made on the Q2 earnings conference call. :theflyonthewall.com 10:30 EDT theflyonthewall.com: Treasury Option Action: heavy 10-year combo activity Treasury Option Action: heavy 10-year combo activity has been confirmed in overnight trade, entailing 40k in September 124 puts purchased against 20k in September 126 and 20k in September 126+ calls. Speculation is that this could be aimed at replacing positions rolling off given expirations today. Some 123k in Aug 124 puts are expected to expire worthless today. September 10-year futures are 6.5-ticks firmer with the opening downdraft on stocks, compared to a range of 125-08 to 124-30 so far. :theflyonthewall.com 10:29 EDT CE theflyonthewall.com: Celanese management to meet with Jefferies Meetings to be held in Los Angeles/San Francisco July 31-August 1 hosted by Jefferies. :theflyonthewall.com 10:28 EDT FCX theflyonthewall.com: Freeport announces resumption of exports from Indonesian subsidiary :theflyonthewall.com 10:27 EDT WWD theflyonthewall.com: Woodward management to meet with Jefferies Meeting to be held in Boston on July 31 hosted by Jefferies. :theflyonthewall.com 10:27 EDT SOHU theflyonthewall.com: Sohu.com technical comments ahead of earnings The shares have underperformed peers and the broader averages over the prior three months, down over 3%. In the same interval shares have traded in a quite narrow range largely bound by $55 at the low and $60 at the high. As we have seen repeatedly now through this earnings season, narrow ranges are often precursors to stronger moves once the range is broken. On good news, the upper bound at $60 would be a relatively easy objective. Additional resistance levels above $60 which could become upside targets are at $62.08 and $63.35. On a disappointment a break below $55 would be expected, with price currently already close to that bound at $56.26. Support levels which could become additional downside objectives would be at $52.55, $50, and $47.04. There is a small short-base in the name which could increase downside reactions in the absence of buy-to-cover demand. :theflyonthewall.com 10:26 EDT LOCO theflyonthewall.com: El Pollo Loco opens at $19.00, IPO priced at $15.00 :theflyonthewall.com 10:26 EDT STML theflyonthewall.com: Stemline management to meet with Jefferies Meetings to be held in Boston/New York/San Francisco on July 28-August 1 hosted by Jefferies. :theflyonthewall.com 10:25 EDT MA theflyonthewall.com: MasterCard August weekly volatility elevated into Q2 and outlook MasterCard August weekly call option implied volatility is at 32, August is at 22, September is at 21, January is at 20; compared to its 26-week average of 25 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on July 31. :theflyonthewall.com 10:22 EDT LOCO theflyonthewall.com: El Pollo Loco indicated to open $19.40 :theflyonthewall.com 10:20 EDT LOCO theflyonthewall.com: El Pollo Loco indicated to open $20.00 El Pollo Loco (LOCO) priced 7.142M shares at $15.00. Jefferies, Morgan Stanley and RW Baird acted as joint book running managers for the offering. :theflyonthewall.com 10:16 EDT PFG theflyonthewall.com: Principal Financial raises quarterly dividend by 6% to 34c from 32c :theflyonthewall.com 10:16 EDT PFG theflyonthewall.com: Principal Financial sees FY14 cap deployment at or above top end of $500M-$700M In the long-term, the company expects to deploy 65%-70% of net income with volatility in any given year. Sees FY14 Full Service Accumulation and Principal Funds sales to be comparable to 2013. The company expects low interest rates will continue to be a headwind to earnings growth in Individual Life segment. Comments taken from slides for Q2 earnings conference call. :theflyonthewall.com 10:16 EDT $NYE theflyonthewall.com: NYSE market internals summary Volume is extremely heavy for this time of day. Breadth is mixed with issues and volume bearish while new highs to new lows are bullish (positive divergence). Advancing Issues: 1339 / Declining Issues: 2523 -- for a ratio of 0.5 to 1. Advancing Volume: 164,941,000 / Declining Volume: 266,262,000 -- for a ratio of 0.6 to 1. New 52-Week Highs: 60 / New 52-Week Lows: 24. :theflyonthewall.com 10:16 EDT $NSD theflyonthewall.com: NASDAQ market internals summary Volume is very light for this time of day. Breadth is bearish across the board. Advancing Issues: 710 / Declining Issues: 1666 -- for a ratio of 0.4 to 1. Advancing Volume: 105,242,000 / Declining Volume: 138,925,000 -- for a ratio of 0.8 to 1. New 52-Week Highs: 26 / New 52-Week Lows: 27. :theflyonthewall.com 10:13 EDT BELFA, BELFB, EMR theflyonthewall.com: Bel Fuse closes acquisition of connectivity solutions business from Emerson Bel Fuse (BELFA, BELFB) announced that it has closed the previously announced acquisition of the Emerson Network Power Connectivity Solutions business from Emerson (EMR). Bel acquired the Connectivity Solutions business for approximately $98M on a cash and debt-free basis. The business had 2013 revenue of approximately $83M. The China portion of the transaction is expected to close by the end of the third quarter of 2014. The acquisition is expected to be accretive to Bel's earnings beginning in the second half of 2014. :theflyonthewall.com 10:11 EDT SANM theflyonthewall.com: Sanmina management to meet with Needham Meetings to be held in San Diego on July 31 and in Los Angeles on August 1 hosted by Needham. :theflyonthewall.com 10:11 EDT SWFT theflyonthewall.com: Swift Transport upgraded to Outperform from Market Perform at Avondale Avondale upgraded Swift Energy citing the improving capital structure and valuation. Price target raised to $26.50 from $25. :theflyonthewall.com 10:08 EDT LOAN theflyonthewall.com: Manhattan Bridge Capital jumps after secondary offering postponed Shares of Manhattan Bridge Capital (LOAN) are rising significantly in early trading after the company postponed its planned secondary offering of 2.83M shares. The deal, which is being run by Aegis, had been planned for a Thursday night pricing but has been postponed. The offering may come next week, but that is unconfirmed. Shares of Manhattan Bridge Capital are up over 33% to $3.21 in early trading following the postponement. :theflyonthewall.com 10:07 EDT CAB theflyonthewall.com: Cabela's Sell rating removed at Off Wall Street Research (pre-open) :theflyonthewall.com 10:05 EDT SWGAY, AAPL theflyonthewall.com: Swatch says not working with Apple on smartwatches, Business Insider reports Swatch (SWGAY) has denied reports that it is working with Apple (AAPL) on a line of smartwatches, Business Insider reports. A report from VentureBeat this week said Swatch would partner with Apple to release a line of smartwatches "in a variety of branded styles and price points." Reference Link :theflyonthewall.com 10:02 EDT TWTR theflyonthewall.com: Twitter August weekly volatility elevated into Q2 and outlook Twitter August weekly call option implied volatility is at 108, August is at 60, September is at 54, November is at 52; compared to its 26-week average of 56 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on July 29. :theflyonthewall.com 10:02 EDT TWOU, BURL, ICON, OPHT, PQ, TWTR theflyonthewall.com: On The Fly: Analyst Initiation Summary Today's noteworthy initiations include: 2U (TWOU) initiated with an Outperform at Barrington... Burlington Stores (BURL) initiated with a Buy at Buckingham... Iconix Brand (ICON) initiated with an Outperform at Cowen... Ophthotech (OPHT) initiated with a Neutral at Goldman... PetroQuest (PQ) initiated with an In-Line at Imperial Capital... Twitter (TWTR) initiated with a Market Perform at Raymond James. :theflyonthewall.com 10:02 EDT TWOU, BURL, ICON, OPHT, PQ, TWTR theflyonthewall.com: On The Fly: Analyst Initiation Summary Today's noteworthy initiations include: 2U (TWOU) initiated with an Outperform at Barrington... Burlington Stores (BURL) initiated with a Buy at Buckingham... Iconix Brand (ICON) initiated with an Outperform at Cowen... Ophthotech (OPHT) initiated with a Neutral at Goldman... PetroQuest (PQ) initiated with an In-Line at Imperial Capital... Twitter (TWTR) initiated with a Market Perform at Raymond James. :theflyonthewall.com 10:02 EDT ABCB, CAB, DECK, EIX, FLS, GIL, IMAX, ISSI, LOGI, NTRS, OSTK, PTEN, PBR, BPOP, VRSN theflyonthewall.com: On The Fly: Analyst Upgrade Summary Today's noteworthy upgrades include: Ameris Bancorp (ABCB) upgraded to Buy from Hold at Sandler O'Neill... Cabela's (CAB) upgraded to Buy from Neutral at DA Davidson... Deckers Outdoor (DECK) upgraded to Buy from Hold at Jefferies... Edison International (EIX) upgraded to Buy from Hold at Argus... Flowserve (FLS) upgraded to Buy from Hold at Maxim... Gildan Activewear (GIL) upgraded to Outperform from Sector Perform at RBC Capital... IMAX (IMAX) upgraded to Buy from Hold at Benchmark Co.... Integrated Silicon (ISSI) upgraded to Buy from Hold at Feltl... Logitech (LOGI) upgraded to Neutral from Underweight at JPMorgan... Northern Trust (NTRS) upgraded to Neutral from Underweight at JPMorgan... Overstock.com (OSTK) upgraded to Buy from Neutral at B. Riley... Patterson-UTI Energy (PTEN) upgraded at CLSA... Petrobras (PBR) upgraded to Overweight from Equal Weight at Barclays... Popular (BPOP) upgraded at Guggenheim... VeriSign (VRSN) upgraded to Neutral from Sell at Citigroup. :theflyonthewall.com 10:00 EDT theflyonthewall.com: Fed Policy Outlook: analysts don't expect any major revelations from the FOMC Fed Policy Outlook: analysts don't expect any major revelations from the FOMC in next week's (July 29, 30) meeting. Another $10 B cut in QE purchases is pretty much a foregone conclusion, with the Fed expected to finish its buybacks in October with a $15 B reduction. And while there is likely to be a hot debate over the exit strategy and rate lift-off, Wednesday's policy statement won't give anything away in terms of explicit strategies or rate lift-off timing. Indeed, about the only material change in the statement relative to June's should be a slight upgrade to the economic outlook and labor market conditions, while the statement on inflation should reiterate prices are running below target but longer-term expectations have remained stable. The time is fast approaching, however, that the Fed will have to change the "considerable time" forward guidance, as well as update the markets on whether Treasury holdings will be allowed to expire, or be reinvested. Yellen's dovish nature and the general belief at the Fed that the stock of Treasuries in the portfolio is more important than flows suggest the former tactic may be employed. Analysts are still forecasting the first rate hike will take place in Q2. Many other Fedwatchers have been pushing up their forecasts from 2H. And given the improvement in the labor market, there is risk for a hike as early as the March 17, 18, 2015 meeting, especially as it includes a press conference. :theflyonthewall.com 09:59 EDT XRX theflyonthewall.com: Xerox continues to expect to end year with $7.8B of debt Expects $300M in dividend payments for the full-year. Continues to expect to do at least $700M in share repurchase in FY14. FY14 cash flow guidance remains $1.8B-$2B. Says drivers to FY14 EPS guidance includes the expectation of FY14 tax rate to be between 24%-26%, fewer shares, and margin upside in Document technology to offset Services pressure. Says Document Technology revenue for FY14 is trending as expected. Says Services growth revenue is anticipated to show low-single digit growth in 2H14. Comments taken from slides of the company's Q2 earnings conference call presentation. :theflyonthewall.com 09:59 EDT SNX theflyonthewall.com: SYNNEX management to meet with Needham Meetings to be held in St. Louis/Kansas City on July 31 hosted by Needham. :theflyonthewall.com 09:57 EDT SRPT theflyonthewall.com: Sarepta CSO had 'serious disagreements' with CEO, WSJ reports Sarepta's recently terminated Chief Scientific Officer Arthur Krieg said he had "serious disagreements" with CEO Chris Garabedian, Wall Street Journal reported last night, citing comments from a phone interview. Krieg's termination follows other management departures and "interrupts" the process" of preparing eteplirsen paperwork for the FDA, the Journal added, citing a person familiar with the matter. Recall that The Street's Adam Feuerstein reported yesterday that Krieg had no role in the clinical development of eteplirsen. Reference Link :theflyonthewall.com 09:57 EDT theflyonthewall.com: Futures weaken, leading to lower open Stock futures weakened during the pre-market trading session, leading to a lower open for the broader market. The most notable downside earnings surprises came from the Amazon.com (AMZN) which reported greater than expected losses and was downgraded by at least three firms this morning. Amazon's slide is weighing on the Nasdaq, while Visa (V) is also lower after its own earnings report and is dragging on the Dow. Nearly 30 minutes into the session, the Dow is down 99 points, the Nasdaq is down 18 points and the S&P is down 6 points. :theflyonthewall.com 09:55 EDT AMBC theflyonthewall.com: Ambac Financial announces LTGO settlement with Detroit Ambac Financial announced that its principal financial guarantee subsidiary, Ambac Assurance, has finalized a settlement with the City of Detroit regarding its insured limited tax general obligation bonds. The LTGO settlement is comprised of new LTGO notes equivalent to 34% of the LTGO allowed claim and a 20% share of any notes remaining in a litigation reserve related to the City's pension bond litigation, which may increase the recovery. The notes in the litigation reserve are a portion of the "B notes" referenced in the City's plan of adjustment. These settlements are related to Ambac Assurance's LTGO and UTGO gross par exposures of $92M and $78M, respectively, as of the date of the City's bankruptcy filing. The Company expects to continue to pay claims of scheduled principal and interest on the bonds insured by Ambac Assurance. :theflyonthewall.com 09:55 EDT theflyonthewall.com: House Science, Space and Technology Committee to hold a hearing The Committee holds a Markup: "H.R. 2996, The Revitalize American Manaufacturing & Innovation Act of 2013" on July 25 at 10 am. Webcast Link :theflyonthewall.com 09:55 EDT theflyonthewall.com: SEC to hold an open commission meeting The Commission will hear an appeal on whether former employees of State Street Bank and Trust Company violated anti-fraud provisions, as alleged and, if so, the extent to which they should be sanctioned in a meeting being held at SEC Washington, D.C. offices on July 25 at 10 am. Webcast Link :theflyonthewall.com 09:55 EDT GMED, JNJ, KTWO, LDRH, MDT, MZOR, NUVA, SYK, ZMH theflyonthewall.com: Leerink medical devices analyst holds an analyst/industry conference call Medical Devices Analyst Newitter, along with J. Scott Price, M.D., an orthopedic surgeon, discusses industry trends and new products currently being used for the spine, including fixation devices from NUVA, on an Analyst/Industry conference call. Other companies including GMED, JNJ, KTWO, LDRH, MDT, MZOR, SYK and ZMH may be discussed on the Analyst/Industry conference call to be held on July 25 at 10:30 am. :theflyonthewall.com 09:54 EDT OEC theflyonthewall.com: Orion Engineered Carbons opens at $17.80, IPO priced at $18.00 :theflyonthewall.com 09:52 EDT SBUX theflyonthewall.com: Starbucks CEO says China business in 'infant' stages Schultz says "no company in America, maybe in world" doing the same number of mobile transactions that Starbucks is. Schultz sees flagship stores to be driver of significant growth for company. Starbucks CEO Howard Schultz is speaking on CNBC. :theflyonthewall.com 09:47 EDT P theflyonthewall.com: Pandora weakness a buying opportunity, says Needham Needham recommends buying Pandora on weakness and made no changes in 2015 estimates. Shares are Buy rated with a $41 price target. :theflyonthewall.com 09:47 EDT SBUX theflyonthewall.com: Starbucks CEO says no change 'whatsoever' to guidance due to coffee prices Schultz says he cannot understand why concerns over coffee prices continue to be pointed to as an issue for the company. Starbucks CEO Howard Schultz is speaking on CNBC. :theflyonthewall.com 09:45 EDT BRG theflyonthewall.com: MacKenzie Realty announces tender offer for Bluerock Residential B shares MacKenzie Realty Capital announced a tender offer for Class B Shares of Bluerock Residential Growth REIT. MacKenzie Realty Capital is offering to purchase up to 30K Class B-1, 30,000 Class B-2, and 30,000 Class B-3 Shares for $11.00, $10.00, and $9.00 per Share, respectively. The Class B Shares will convert to Class A Shares of Bluerock Residential Growth REIT 360, 540, and 720 days following Bluerock Residential Growth REIT initial public offering of Class A Shares on April 2, MacKenzie said. :theflyonthewall.com 09:44 EDT MMS theflyonthewall.com: Maximus awarded new health and work service program for UK Maximus announced that its wholly owned subsidiary, Health Management Limited, will operate the new Health and Work Service program on behalf of the United Kingdom’s Department for Work and Pensions. The 63-month contract will begin on August 1 and will run through October 31, 2019. The service will launch on a phased basis beginning with the North of England, Midlands and Wales by late 2014, then nationally by May 2015. :theflyonthewall.com 09:42 EDT OEC theflyonthewall.com: Orion Engineered Carbons indicated to open $17.80-$17.85 on 2M shares Orion Engineered Carbons (OEC) priced 19.5M shares at $18.00. Morgan Stanley, Goldman and UBS acted as joint book running managers for the offering. :theflyonthewall.com 09:40 EDT MGH theflyonthewall.com: Minco Gold announces sale of the Gold Bull Mountain project for RMB 7M Minco Gold announced that the company's wholly owned subsidiary Minco Mining has entered into an agreement with a private Chinese individual to sell the company's Gold Bull Mountain Project located in Hunan Province, China for total consideration of RMB 7M. The company has received the first installment payment from the Purchaser. :theflyonthewall.com 09:38 EDT CYNK theflyonthewall.com: Cynk Technology resumes trading, shares drop as much as 86% :theflyonthewall.com 09:37 EDT HAWK theflyonthewall.com: Citadel Advisors reports 4.9% passive stake in Blackhawk :theflyonthewall.com 09:37 EDT WMS theflyonthewall.com: Advanced Drainage Systems opens at $16.05, IPO priced at $16.00 Advanced Drainage Systems (WMS) priced 14.5M shares at $16.00. Barclays, Deutsche Bank, Citigroup and RBC Capital acted as joint book running managers for the offering. :theflyonthewall.com 09:37 EDT AAPL, AMZN, BIDU, P, C, TSLA, NFLX, KO, TWTR, FB theflyonthewall.com: Active equity options trading on open Active equity options trading on open according to Track Data: AAPL AMZN BIDU P C TSLA NFLX KO TWTR FB :theflyonthewall.com 09:37 EDT GPRO theflyonthewall.com: GoPro mentioned cautiously at Cleveland Research :theflyonthewall.com 09:35 EDT CWEI theflyonthewall.com: Clayton Williams downgraded to Accumulate from Buy at Global Hunter Global Hunter downgraded Clayton Williams to Accumulate from Buy due to underperformance in the East Texas Eagle Ford and Delaware Basin. Price target lowered to $145 from $160. :theflyonthewall.com 09:33 EDT CCJ theflyonthewall.com: Cameco downgraded to Hold from Buy at Cantor :theflyonthewall.com 09:32 EDT PPP theflyonthewall.com: Primero Mining upgraded to Buy from Hold at Cantor :theflyonthewall.com 09:32 EDT MGM, BYD, LVS, WYNN, PENN, CZR theflyonthewall.com: Nevada reports June statewide gaming win up 14.4% to $906.9M Nevada reports June Las Vegas Strip gaming win up 22.45% to $532.36M. Publicly traded companies in the space include Boyd Gaming (BYD), Caesar's (CZR), Las Vegas Sands (LVS), MGM Resorts (MGM) and Wynn Resorts (WYNN). :theflyonthewall.com 09:31 EDT AAPL theflyonthewall.com: Apple rumored to push out larger iPhone 6 production, AppleInsider says A report comes from Taiwanese newspaper UDN claims that Apple's 4.7-inch iPhone 6 will be ready for launch in September but that its larger 5.5-inch iPhone and its iPad mini and Air will not enter production until that month, reported AppleInsider. Reference Link :theflyonthewall.com 09:31 EDT VXX theflyonthewall.com: iPath S&P 500 VIX Short-Term Futures are recently up 53c to 28.52 :theflyonthewall.com 09:31 EDT CAM theflyonthewall.com: Cameron upgraded to Accumulate from Neutral at Global Hunter :theflyonthewall.com 09:30 EDT theflyonthewall.com: Euro$ interest rate options: straddle spread demand Euro$ interest rate options: straddle spread demand has been spotted, including the purchase of 2k in Green December 88 straddles vs Short December 77 straddle spreads. The September 2014 contract is a half-tick lower at 99.76, while the deferreds are mixed, ranging from -1 tick to 2-ticks firmer. There was also a bearish purchase of 5k in Blue December 86/71 put spreads. The short-dated rate contracts have generally been more defensive this week amid credit jitters, though the FOMC is expected to be a quiet affair next week, according to WSJ's Hilsenrath. :theflyonthewall.com 09:28 EDT CAH, ABC theflyonthewall.com: Cardinal Health has good read through from AmerisourceBergen, says Sterne Agee Sterne Agee believes that AmericansourceBergen's (ABC) beat and raise results bode well for Cardinal Health (CAH). The firm keeps a Buy rating on Cardinal. :theflyonthewall.com 09:27 EDT VISN theflyonthewall.com: VisionChina Media announce closing of litigation settlement VisionChina Media, Oak Investment Partners, Limited Partnership, Gobi Partners, Gobi Fund, and Gobi Fund II, and Shareholder Representative Services, and Thomas GaiTei Tsao, jointly announced the closing of the settlement agreement of all litigations arising from VisionChina Media's November 16, 2009 acquisition of Digital Media Group Company Limited from the Selling Shareholders. Under the terms of the settlement agreement, VisionChina Media agrees pay to the Selling Shareholders an aggregate amount of $70M, including $12M in cash and $58M in six-year term convertible promissory notes issued by VisionChina Media, in addition to certain other consideration to satisfy the judgment ofS$71.8M entered in the 2011 Action on or about July 26, 2013. By the date of this joint press release, all claims in these pending lawsuits have been dismissed and all closing conditions of the settlement agreement have been met. :theflyonthewall.com 09:25 EDT SNDK, KLAC theflyonthewall.com: SanDisk has positive read through from KLA-Tencor, says Sterne Agee Sterne Agee believes that comments from KLA-Tencor (KLAC) indicate that the growth of 3D-NAND technology is being delayed. The firm thinks this development is positive for NAND supply/demand and for SanDisk (SNDK). It keeps a Buy rating on SanDisk. :theflyonthewall.com 09:25 EDT CYRN theflyonthewall.com: CYREN raises $11.5M in a registered direct offering CYREN announced the pricing of a registered direct offering of 4,771,796 shares and warrants to purchase 1,670,128 ordinary shares with certain institutional investors in combinations consisting of one ordinary share and one warrant to purchase 0.35 of an ordinary share at an offering price per fixed combination of $2.41. CYREN will receive gross proceeds of $11.5 million before deducting placement agent fees and offering expenses.William Blair & Company, L.L.C. is acting as the exclusive placement agent for the offering. :theflyonthewall.com 09:25 EDT AMZN, P, BIDU, FOX, FOXA, V, XRX, DECK, ACRX, RFMD, LSCC, QLIK, LEA, BCOV, WCG, MXIM theflyonthewall.com: On The Fly: Pre-market Movers UP AFTER EARNINGS: Baidu (BIDU), up 8%... Mellanox (MLNX), up 7%... RF Micro Devices (RFMD), up 6%... Qlik Technologies (QLIK), up 11%... Lear (LEA), up 5.5%. HIGHER: 21st Century Fox (FOXA), up 1.8% after BSkyB (BSYBY) to buy Sky Italia, 57.4% stake in Sky Deutschland from the company... Deckers Outdoor (DECK), up 9.7% after upgraded at Jefferies following the company's Q1 earnings results... AcelRx (ACRX), up 7.6% after confirming July 27 PDUFA date for Zalviso. DOWN AFTER EARNINGS: Visa (V), down 3.3%... Pandora (P), down 10%... Xerox (XRX), down 2.3%... Lattice Semiconductor (LSCC), down 16%... Maxim Integrated (MXIM), down 14%. LOWER: Amazon (AMZN), down 11.7% after downgraded at CRT Capital and B. Riley following the company's Q2 earnings report... Brightcove (BCOV), down 32% after downgraded at various firms including RBC Capital and Pacific Crest following the company's guidance... WellCare (WCG), down 22% after downgraded at Wells Fargo and Raymond James after the company issued its Q2 earnings. :theflyonthewall.com 09:23 EDT EVBS theflyonthewall.com: Eastern Virginia Bankshares reports Q2 EPS 6c, consensus 8c Reports no provision for loan losses during Q2. :theflyonthewall.com 09:20 EDT ABBV theflyonthewall.com: AbbVie only gave prepared remarks and no Q&A, citing UK code restrictions :theflyonthewall.com 09:20 EDT theflyonthewall.com: Treasury Action: curve flatteners are generally in play Treasury Action: curve flatteners are generally in play thanks to the dynamics of near-term supply and the advent of month-end. Treasury is auctioning $93 B in shorter dated coupons next week, including a $29 B 2-year note (auctioned Monday), a $35 B for the 5-year note (Tuesday) and $29 B for the 7-year (Wednesday), along with a $15 B 2-year FRN (Wednesday), and a $51 B 3- and 6-month bill (Monday). Meanwhile, the Barclays' Treasury index extension is estimated at 0.08 years. This combination of factors has the 30-year bond yield down over 2 bps to 3.27%. The 5s-30s spread has narrowed 3 bps to 157 bps, the lowest of the year. The 2s-10s has dipped back under 200 bps. :theflyonthewall.com 09:20 EDT theflyonthewall.com: Today's U.S. durables report Today's U.S. durables report revealed modest durable orders gains both with and without transportation, but with a smaller than expected transportation boost and modestly disappointing component data. Firmness in June orders for capital equipment accompanied weaker than expected shipments figures for both capital equipment and durable goods overall, with additional restraint in inventory growth. Analysts expect real Q2 GDP growth of 2.5% with a 6% (was 8%) growth pace for real equipment spending and a $49 (was $52) B inventory addition, following respective Q1 contraction rates of 2.9% and 2.8% with a $65.8 B Q1 inventory subtraction. Analysts expect June increases of 0.6% for factory inventories and 0.7% for total inventories, given today's 0.4% factory durable inventory rise. Analysts assume a 0.7% June factory orders rise with a 0.4% factory shipments increase, given an assumed 0.6% nondurables rise. Analysts saw a 0.1% June durable shipments rise that tracked both the 0.1% increase in the June factory hours-worked gauge and the 0.4% rise in the durable goods manufacturing component of the last industrial production report. :theflyonthewall.com 09:19 EDT KMX theflyonthewall.com: CarMax management to meet with Oppenheimer Meeting to be held in Baltimore on July 28 hosted by Oppenheimer. :theflyonthewall.com 09:19 EDT ABBV theflyonthewall.com: AbbVie sees Q3 revenue growth in low to mid single digits, consensus $4.75B Sees Q3 gross margin ratio of 79%. Sees Q3 SG&A expense to see a modest increase compared to Q2. Sees Q4 revenue growth in low to mid single digits. Sees Q4 gross margin to be lower compared to Q3 due to product mix. Sees Q4 SG&A expense to see a more meaningful sequential increase compared to Q3. :theflyonthewall.com 09:19 EDT AMGN theflyonthewall.com: Amgen weekly volatility elevated into Q2 and outlook Amgen August weekly call option implied volatility is at 27, August is at 22, September is at 18, October is at 19; compared to its 26-week average of 23 according to Track Data, suggesting non-directional price movement into the expected release of Q2 results on July 29. :theflyonthewall.com 09:19 EDT AMZN theflyonthewall.com: Amazon.com price target lowered to $415 from $455 at Oppenheimer Oppenheimer cut its target on Amazon after the company reported lower than expected EPS and its customer growth rate slowed. The firm keeps an Outperform rating. :theflyonthewall.com 09:18 EDT KBR theflyonthewall.com: KBR awarded engineering design contract by Hyundai Heavy Industries KBR announced that it has received a letter of award from Hyundai Heavy Industries to perform engineering design services for the Abu Dhabi Marine Operating Company Al-Nasr Full Field Development project, located offshore Abu Dhabi. Under the terms of the contract, KBR will provide engineering design and support services for the entire Al-Nasr Package 2 scope with the services provided by KBR's office in Singapore and supported by other KBR offices. The KBR Singapore office has more than 40 years of experience in providing engineering services for the offshore oil and gas industry worldwide. When completed, the super complex will produce an annual average production of 65,000 barrels of crude oil per day. ADMA-OPCO's other stakeholders in the Al-Nasr project are BP, Total and Japan Oil Development Company. Expected revenue from the contract will be included in Q3 backlog of unfilled orders for the Hydrocarbons segment. The contract value was not disclosed. :theflyonthewall.com 09:17 EDT ABBV theflyonthewall.com: AbbVie sees FY14 global Humira sales to see double digit growth Sees FY14 international Humira sales to see low double digit growth. The company has seen a notable slowdown in the market with overall prescriptions down 20%, and it expects these trends to continue. Comments taken from Q2 earnings conference call. :theflyonthewall.com 09:17 EDT CHE theflyonthewall.com: Chemed price target raised to $110 from $92 at Oppenheimer Oppenheimer increased its price target on Chemed after the company reported higher than expected EPS. The firm keeps an Outperform rating. :theflyonthewall.com 09:15 EDT STM theflyonthewall.com: STMicroelectronics opens MEMS Microphone Lab in Taiwan STMicroelectronics announced it has opened a new MEMS Microphone Lab in Taiwan to test and analyze high-performance audio applications built with ST's MEMS microphones. :theflyonthewall.com 09:13 EDT FMX theflyonthewall.com: FEMSA sees gradual improvement in 2H FEMSA CEO Carlos Salazar Lomelin said, "As we look at the second half of the year, we remain confident on our team's ability to execute our strategy and overcome challenges, and we see more reasons to be optimistic than not. However, the improvement should be gradual as we do not yet see signs of a radically better environment in the months ahead." :theflyonthewall.com 09:13 EDT TER theflyonthewall.com: Teradyne shares should be bought on pullbacks, says Pacific Crest Pacific Crest identifies Teradyne as a top pick and recommends looking for opportunities to buy the shares at a discount heading into the seasonally softer 2H14. The firm thinks the company is gaining share and it expects the company to benefit from growth in its semi test and wireless test markets. The firm keeps a $22 price target and Outperform rating on the shares. :theflyonthewall.com 09:12 EDT FMX theflyonthewall.com: FEMSA reports Q2 income from operations up 9% FEMSA reported Q2 consolidated total revenues increased 14.4% and income from operations grew 9.0% compared to the second quarter of 2013, reflecting growth at Coca-Cola FEMSA and FEMSA Comercio. On an organic basis total revenues and income from operations increased 7.3% and 5.5%, respectively. FEMSA CEO Carlos Salazar Lomelin said, "In light of a continued challenging environment for our businesses, particularly in Mexico, our results for the quarter were solid. At Coca-Cola FEMSA, Mexican volumes again contracted reflecting the adverse backdrop of the excise tax, as well as extremely wet weather that this year seems to have arrived ahead of schedule, yet we continued to successfully implement pricing and packaging strategies that drove revenues and partially offset the negative pressure, together with our continued emphasis on efficiency and cost containment, as well as a generally benign raw material environment. Beyond Mexico, we are also facing challenging operating conditions in certain markets, such as Brazil, while other operations like Colombia are delivering more encouraging growth. At FEMSA Comercio comparable sales for the quarter showed some improvement, but once we adjust for the calendar effects of Semana Santa the growth year-to-date is just above 2%, more or less in line with the trend from last year but below our long term expectations. The opening of new stores has been strong, but clearly the Mexican consumer remains under pressure as the much awaited recovery remains elusive." :theflyonthewall.com 09:12 EDT P theflyonthewall.com: Pandora reiterated as an Underweight at Albert Fried Albert Fried said Pandora's revenue quality was low given accounts receivable expansion and views core Pandora Mobile Advertising revenue is challenged. The analyst reiterates its Underweight rating and $20 price target. :theflyonthewall.com 09:11 EDT CBNK theflyonthewall.com: Chicopee Bancorp reports Q2 EPS 7c, one estimate 10c Reports Q2 net charge-offs 0.98%. :theflyonthewall.com 09:09 EDT BIDU theflyonthewall.com: Baidu price target raised to $260 from $220 at Pacific Crest Pacific Crest raised its price target on Baidu after the company reported higher than expected Q2 EPS. The firm is more upbeat about the company's leverage outlook and keeps an Outperform rating on the shares. :theflyonthewall.com 09:09 EDT MGN theflyonthewall.com: Mines Management announces unit offering Mines Management has agreed to sell 4,000 units consisting of one share of the Company's Series B 6% Convertible Preferred Stock, no par value, and a warrant to purchase approximately 636 shares of the Company's common stock, par value $0.001 per share, at a price to the public of $1,000 per unit. Each share of Series B Convertible Preferred Stock is convertible into shares of common stock at a conversion rate of approximately 1,271 shares of common stock for each share of Series B Convertible Preferred Stock. The warrants will be immediately exercisable at an exercise price of $1.0816 per share and will expire 52 months from the date of issuance. Mines Management expects that the offering will yield gross proceeds, before estimated offering expenses, of $4.0 million. Roth Capital Partners acted as the exclusive placement agent for the offering. :theflyonthewall.com 09:08 EDT UA theflyonthewall.com: Under Armour should be bought aggressively on pullbacks, says Janney Capital Janney Capital raised its fair value estimate on Under Armour to $72 from $58 following the company's Q2 report and increased guidance. The firm believes the stock's premium multiple is warranted and recommends being more aggressive in buying shares on any near-term pullbacks in the stock. :theflyonthewall.com 09:07 EDT CUNB theflyonthewall.com: CU Bancorp reports Q2 EPS 21c, consensus 23c Reports Q2 core net income of $2.9M. Reports Q2 net interest margin increased to 3.88% from 3.82% for the prior quarter ended March 31. Reports Q2 non-interest bearing demand deposits increased $111M or 19.5% from June 30, 2013, representing 55% of total deposits. Reports Q2 et interest income before the provision for loan losses totaled $12.6M. :theflyonthewall.com 09:07 EDT P theflyonthewall.com: Pandora shares should be bought on weakness, says Pacific Crest After Pandora reported stronger than expected Q2 results, Pacific Crest thinks the company's guidance suggests that its ad sales will rise significantly during that period. The firm expects the company's monetization to improve through 2H14 and it keeps an Outperform rating on the shares. :theflyonthewall.com 09:05 EDT TMP theflyonthewall.com: Tompkins Financial reports Q2 provision for loan, lease losses $67K Reports noninterest income represented 30.4% of total revenue for Q2. :theflyonthewall.com 09:05 EDT theflyonthewall.com: Big decisions loom for the Fed Big decisions loom for the Fed though in a quiet moment next week the decision to taper by another $10 B to $25 B in QE purchases is likely to be a tame one, while leaving rate guidance unchanged and confirming continued progress in the labor market, says WSJ Fedwatcher Hilsenrath in his Real Time Economics blog. But, he suggests that behind the scenes Yellen and co. will have to mull changes to the statement after purchases end in October, when references to the end of QE and the phrase "considerable time" will need to be revised. Decisions on when to let securities expire and roll off their balance sheet instead of reinvesting, along with how best to utilize the reverse repo will be needed. He also suggests Yellen could be pressured by a rising chorus of Fed hawks, who want to see rates hiked earlier than later. :theflyonthewall.com 09:05 EDT AQQ theflyonthewall.com: American Spectrum Realty trading halted, pending news :theflyonthewall.com 09:04 EDT GRC theflyonthewall.com: Gorman-Rupp reports Q2 EPS 34c, consensus 41c Reports Q2 revenue $109.7M, consensus $112.97M. :theflyonthewall.com 09:04 EDT TMP theflyonthewall.com: Tompkins Financial board approves stock repurchase program Tompkins Financial announced that its board has authorized, at the discretion of Senior Management, the repurchase of up to 400K shares of the company’s outstanding common stock. Purchases may be made on the open market or in privately negotiated transactions over the next 24 months. :theflyonthewall.com 09:03 EDT JBL theflyonthewall.com: Jabil Circuit announces $100M share repurchase program Jabil Circuit announced that its Board of Directors has authorized the repurchase of up to $100Mworth of shares of the company’s common stock. This share repurchase program expires on August 31, 2015. The shares will be repurchased from time-to-time in the open market at the company’s discretion and subject to market conditions and other factors. The company's current repurchase authorization of $200M is anticipated to be completed by August 31. :theflyonthewall.com 09:03 EDT TMP theflyonthewall.com: Tompkins Financial reports Q2 EPS 87c, consensus 87c Reports Q2 net interest income of $40.5M. Reports Q2 provision expense declined to $67K compared to $2.5M last year. Reports Q2 credit quality improved with total non-performing assets at June 30, 2014 down 18.0% from the most recent prior quarter, and down 24.0% from the same period last year. Reports Q2 total loans were up 5.7% over the same period in 2013, and were up an annualized 2.2% over year-end 2013. :theflyonthewall.com 09:03 EDT MXIM theflyonthewall.com: Maxim Integrated outlook still attractive, says Pacific Crest After Maxim reported lower than expected Q4 revenue and provided weaker than expected guidance, Pacific Crest thinks the company's mobile business will probably bottom this quarter, while the company is poised to obtain significant new business at Apple (AAPL) in its Q2. The firm also expects Maxim's gross margin to bottom this quarter. It cut its price target on the stock to $37 from $44 but keeps an Outperform rating. :theflyonthewall.com 09:02 EDT TAP theflyonthewall.com: Molson Coors CEO Peter Swinburn to retire at end of 2014 Molson Coors Brewing Company announced that after a 40-year career in the beer business, Peter S. Swinburn, CEO and President, has decided to retire from the Company and its Board of Directors on December 31. The Board has named Mark R. Hunter, currently CEO and President of Molson Coors Europe and a 25-year industry veteran, CEO and President of Molson Coors, effective upon Swinburn’s retirement, at which time he will also join the company’s Board. Swinburn, who has served as Molson Coors’ CEO since 2008, will continue to lead the company until his retirement, working closely with the Board and Mr. Hunter to ensure a smooth transition. :theflyonthewall.com 09:02 EDT FOXA theflyonthewall.com: 21st Century Fox exit of Sky could help Time Warner bid, says FBR Capital FBR Capital says 21st Century Fox's (FOXA) sale of Sky Italia and Sky Deutschland stakes is a positive for shareholders and could be helpful in the company's bid for Time Warner (TWX). FBR keeps an Outperform rating on Fox with a $44 price target. :theflyonthewall.com 09:02 EDT RBS theflyonthewall.com: Royal Bank of Scotland says 1H shows progress but 'bumps' in road ahead Royal Bank of Scotland said, “The results we are posting today show the steady progress we are making as we take the steps to be a much simpler, smaller and fairer bank. These results show that underneath all the noise and huge restructuring of recent years, RBS is a fundamentally stronger bank that can deliver good results for customers and shareholders...But let me sound a note of caution. We are actively managing down a slate of significant legacy issues. This includes significant conduct and litigation issues that will likely hit our profits going forward. I am pleased we have had two good quarters, but no one should get ahead of themselves here - there are bumps in the road ahead of us.” :theflyonthewall.com 09:01 EDT RBS theflyonthewall.com: Royal Bank of Scotland sees 1H profit before tax GBP2.65B RBS said results for 1H are expected to reflect better than anticipated operating performance, driven by more favorable credit conditions and good results from RBS Capital Resolution, with a consequential beneficial impact on capital ratios. Profit before tax is expected to be GBP2.652B, up from GBP1.374B in 1H13, with operating profit at GBP2.6B, up from GBP708M in 1H last year. :theflyonthewall.com 09:01 EDT TAP theflyonthewall.com: Molson Coors names Mark Hunter as CEO successor to Swinburn :theflyonthewall.com 09:01 EDT RSPP theflyonthewall.com: RSP Permian agrees to acquire Midland Basin assets for $259M SP Permian announced it has entered into definitive agreements in separate transactions with multiple sellers to acquire certain undeveloped acreage and oil and gas producing properties located in Glasscock County for an approximate aggregate price of $259M in cash, subject to certain adjustments. the acquisition consists of 7,680 gross surface acres or 21,440 gross effective horizontal acres in Glasscock County. It has an aggregate current net production of approximately 1,106 Boe/d with 13 vertical wells drilled to date and net proved reserves of approximately 22M Boe with over 125 million Boe of resource potential based on internal estimates. :theflyonthewall.com 09:01 EDT TAP theflyonthewall.com: Molson Coors CEO Peter Swinburn to retire at end of 2014 :theflyonthewall.com 08:59 EDT CAT theflyonthewall.com: Caterpillar downgraded to Neutral from Positive at Susquehanna Susquehanna downgraded Caterpillar citing valuation. :theflyonthewall.com 08:58 EDT FIATY, MZDAF theflyonthewall.com: NHTSA opening new probe into defects in Dodge Chargers, Detroit News reports The NHTSA is opening a new investigation into 123,000 2011-212 Dodge Charger cars for stalling issues following 14 complaints alleging incidents of alternator failure resulting in engine stall while driving with no restart, the Detroit News reports. Chrysler (FIATY) says it is cooperating with the investigation. Mazda (MZDAF) is also adding 18,000 vehicles to a 2013 recall for air bag issues, the publication says. Reference Link :theflyonthewall.com 08:57 EDT P theflyonthewall.com: Pandora sell-off overdone after solid Q2 results, says Cowen Cowen views the sell-off in Pandora shares following its Q2 results as overdone and would use the weakness as a buying opportunity. The firm said results were solid and pointed to its guidance, increased listening hours and a strong ad pipeline in keeping its Outperform rating on the stock. However, Cowen lowered its price target on Pandora to $38 from $41. :theflyonthewall.com 08:56 EDT CTCT theflyonthewall.com: Constant Contact price target raised to $47 from $37 at Roth Capital Roth Capital increased its price target on Constant Contact after the company reported higher than expected Q2 EPS. The firm thinks the company's share buybacks have significantly increased its value for shareholders. Roth views the stock's valuation as highly attractive and keeps a Buy rating on the shares. :theflyonthewall.com 08:56 EDT ECHO theflyonthewall.com: Echo Global price target raised to $28 from $22 at FBR Capital FBR Capital raised its price target for Echo Global shares to $28 saying the market should re-rate shares with a "more appropriate" multiple following the company's better than expected Q2 results. The firm reiterates an Outperform rating on the name. :theflyonthewall.com 08:56 EDT NS theflyonthewall.com: NuStar Energy sees Q3 EBITDA higher vs. 3Q13 The company said, "NuStar’s Q3 EPU and EBITDA results as well as our coverage ratio should exceed last year’s Q3 results. Similar to the Q2, Q3 EBITDA results in our pipeline, storage and fuels marketing segments are all expected to be higher than last year’s third quarter." :theflyonthewall.com 08:55 EDT GALT theflyonthewall.com: Galectin Therapeutics to host conference call Conference call to discuss the Cohort 2 Phase 1 clinical trial results will be held on July 29 at 8:30 am. Webcast Link :theflyonthewall.com 08:55 EDT NS theflyonthewall.com: NuStar Energy still sees pipeline segment EBITDA $40M-$60M higher vs. FY13 The company said, "“In regard to FY14 guidance, we still expect our pipeline segment EBITDA to be $40M-$60M higher than 2013 and our storage segment adjusted EBITDA to be comparable to 2013. However, we now expect our fuels marketing segment to generate EBITDA in the range of $20 to $30 million. Based on these projections, we expect to cover our distributions for the full year 2014. Our 2014 internal growth spending projections have been reduced slightly to reflect the deferral of spending on some of our key growth projects into 2015. Spending is now expected to be in the range of $330M-$350M, the majority of which will be spent on projects in our pipeline segment.” :theflyonthewall.com 08:55 EDT theflyonthewall.com: FX Action: The dollar gyrated a bit FX Action: The dollar gyrated a bit after the in-line durables outcome, though has settled pretty much near pre-data levels. EUR-USD is stuck around a 1.3440 fulcrum, while USD-JPY appears to like the 101.85-95 band for the time being. U.S. yields are off their best levels, while equity futures indicate a moderately lower Wall Street open. :theflyonthewall.com 08:55 EDT theflyonthewall.com: The FCC Consumer Advisory Committee to hold a meeting The Committee considers a recommendation from the Universal Service Working Group concerning inter-agency coordination relative to the Lifeline program and broadband adoption in a meeting being held at FCC Washington, D.C. offices on July 25 at 9 am. Webcast Link :theflyonthewall.com 08:54 EDT LOGM theflyonthewall.com: LogMeln price target raised to $53 from $47 at Cowen Cowen raised its price target on LogMeIn to $53 from $47 following what it called "tremendous" Q2 results. The firm cited bookings growth, business momentum, and guidance and keeps its Outperform rating on the stock. :theflyonthewall.com 08:54 EDT PCYC, JNJ theflyonthewall.com: EMA issues positive opinion, recommends approval of Imbruvica Pharmacyclics (PCYC) announced that the Committee for Medicinal Products for Human Use of the European Medicines Agency issued a positive opinion recommending the granting of full marketing approval for IMBRUVICA in the European Union. IMBRUVICA is being jointly developed and commercialized in the United States by Pharmacyclics and Janssen Biotech (JNJ). In Europe, once approved, Janssen-Cilag International NV will be the marketing authorization holder. Janssen will market IMBRUVICA in EMEA, as well as the rest of the world, outside of the United States. :theflyonthewall.com 08:53 EDT NSH theflyonthewall.com: NuStar GP Holdings reports Q2 EPS 37c, consensus 37c :theflyonthewall.com 08:53 EDT NFLX, TWTR theflyonthewall.com: Mark Cuban says Netflix 'more game changing' than Twitter right now Mark Cuban is speaking on CNBC. :theflyonthewall.com 08:52 EDT NS theflyonthewall.com: NuStar Energy reports Q2 EPS 58c, consensus 46c Reports Q2 revenue $749.7M, consensus $843.04M. :theflyonthewall.com 08:52 EDT RVBD theflyonthewall.com: Fundamental change may be needed for Riverbed, says Janney Capital Janney Capital said Riverbed's mediocre quarter and guidance make it harder to believe in management's premise that the company can drive higher value than a private equity firm would offer. Janney lowered its fair value estimate on the stock to $21 from $23, but believes Elliott's buyout offer should provide downside protection and keeps its Buy rating on the shares. :theflyonthewall.com 08:51 EDT PPL theflyonthewall.com: PPL Corp. multiple likely to rise, says Argus After PPL announced an agreement with Riverstone Holdings to combine their merchant power businesses into a new publicly traded independent power producer, Argus thinks the regulated businesses retained by PPL will support steady earnings and dividend growth. The firm thinks that investors will respond by awarding the stock higher multiples. It keeps a Buy rating on the shares. :theflyonthewall.com 08:50 EDT theflyonthewall.com: U.S. equities rotated lower U.S. equities rotated lower pulling back from historic highs with European stocks following the German Ifo miss, along with follow-up slightly firmer 0.7% durables rise than expected. Earnings from Amazon (-10%) and Visa (-2.6%) were disappointing, with the former reporting a larger $126 M loss than expected after heavy investment and the latter slashing its revenue forecast for the year. The Dow is 25-points lower, S&P faltered 3-points and the NASDAQ sank 14-points ahead of the opening gong, extending their drop. In Europe the Euro Stoxx 50 is off 0.4% and Russian shares are 1.4-1.5% lower amid claims of cross-border shelling by both sides, while in Asia the N-225 rose 1.13% thanks to the weak yen and the Shanghai Comp gained 1.02%. China's search engine Baidu surged 9% after a 34.1% jump in net profit, though Pandora sank 9% after subpar audience numbers were reported. RF Micro Devices gained over 6% after boosting forecasts. :theflyonthewall.com 08:48 EDT CBF theflyonthewall.com: Capital Bank resumed with a Hold from Buy at Sandler O'Neill Sandler O'Neill resumed coverage of Capital Bank with a Hold rating and $25 price target, a downgrade from its previous rating of Buy. :theflyonthewall.com 08:48 EDT ICON theflyonthewall.com: Iconix Brand initiated with an Outperform at Cowen Target $52. :theflyonthewall.com 08:47 EDT MLNX, INTC theflyonthewall.com: Mellanox points to bigger than expected Grantley ramp, says Janney Capital Janney Capital increased its 2014 estimates for Mellanox (MLNX) and raised its fair value estimate on the stock to $60 from $57 following its stronger than expected Q2 results. Janney also said comments made by Mellanox' CEO suggest that the firm's prior view on the ramp of Intel's (INTC) Grantley platform may have been too conservative and that the impact on Mellanox could rival that of Romley in the past. The firm keeps a Buy rating on Mellanox. :theflyonthewall.com 08:46 EDT DHI theflyonthewall.com: D.R. Horton downgraded at MKM Partners As noted earlier, MKM Partners downgraded D.R. Horton to Neutral from Buy. The firm downgraded the stock based on what it sees as the company's willingness to sacrifice near-term gross margins, as well as additional earnings risk from impairments and its lack of guidance. Target $24. :theflyonthewall.com 08:45 EDT ABCB theflyonthewall.com: Ameris Bancorp upgraded to Buy from Hold at Sandler O'Neill Sandler O'Neill upgraded Ameris Bancorp to Buy with a $25 price target citing valuation and encouraging Q2 trends. :theflyonthewall.com 08:45 EDT $DJT theflyonthewall.com: DJ Transportation Average: Pivot points The following are the pivot points for the $DJT. Pivot High: 8490.040, Pivot Low: 8429.380. 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. :theflyonthewall.com 08:45 EDT $DJU theflyonthewall.com: DJ Utility Average: Pivot points The following are the pivot points for the $DJU. Pivot High: 563.265, Pivot Low: 558.935. 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. :theflyonthewall.com 08:45 EDT DJX theflyonthewall.com: Dow Jones Industrial Average: Pivot points The following are the pivot points for the DJX. Pivot High: 17101.815, Pivot Low: 17043.055. 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. :theflyonthewall.com 08:45 EDT IYT theflyonthewall.com: ISHARES DJ TRANS AVG: Pivot points The following are the pivot points for IYT. Pivot High: $151.900, Pivot Low: $150.720. 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. :theflyonthewall.com 08:45 EDT XLK theflyonthewall.com: Technology Select Sector SPDR: Pivot points The following are the pivot points for XLK. Pivot High: $39.845, Pivot Low: $39.615. 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. :theflyonthewall.com 08:45 EDT XLE theflyonthewall.com: Energy Select Sector SPDR: Pivot points The following are the pivot points for XLE. Pivot High: $100.775, Pivot Low: $100.045. 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. :theflyonthewall.com 08:45 EDT XLY theflyonthewall.com: Consumer Discretionary Sector SPDR: Pivot points The following are the pivot points for XLY. Pivot High: $67.820, Pivot Low: $67.530. 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. :theflyonthewall.com 08:45 EDT XLB theflyonthewall.com: S&P Select Materials SPDR: Pivot points The following are the pivot points for XLB. Pivot High: $50.105, Pivot Low: $49.838. 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. :theflyonthewall.com 08:45 EDT XLU theflyonthewall.com: Utilities SPDR: Pivot points The following are the pivot points for XLU. Pivot High: $42.990, Pivot Low: $42.640. 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. :theflyonthewall.com 08:45 EDT XLP theflyonthewall.com: Consumer Staples Sector SPDR: Pivot points The following are the pivot points for XLP. Pivot High: $45.100, Pivot Low: $44.920. 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. :theflyonthewall.com 08:45 EDT XLV theflyonthewall.com: Health Care Select Sector SPDR: Pivot points The following are the pivot points for XLV. Pivot High: $62.230, Pivot Low: $61.830. 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. :theflyonthewall.com 08:45 EDT IWM theflyonthewall.com: iShares Trust Russell 2000 Index Fund: Pivot points The following are the pivot points for IWM. Pivot High: $115.145, Pivot Low: $113.835. 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. :theflyonthewall.com 08:45 EDT DIA theflyonthewall.com: Diamonds Fund ETF: Pivot points The following are the pivot points for DIA. Pivot High: $170.645, Pivot Low: $170.015. 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. :theflyonthewall.com 08:45 EDT SPY theflyonthewall.com: Standard and Poor's Depository Receipts: Pivot points The following are the pivot points for SPY. Pivot High: $198.855, Pivot Low: $198.245. 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. :theflyonthewall.com 08:45 EDT XLF theflyonthewall.com: Financial Select Sector: Pivot points The following are the pivot points for XLF. Pivot High: $23.040, Pivot Low: $22.960. 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. :theflyonthewall.com 08:45 EDT SMH theflyonthewall.com: Market Vectors Semiconductor: Pivot points The following are the pivot points for SMH. Pivot High: $50.170, Pivot Low: $49.790. 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. :theflyonthewall.com 08:45 EDT QQQ theflyonthewall.com: NASDAQ 100 Index Tracking Stock: Pivot points The following are the pivot points for QQQ. Pivot High: $97.315, Pivot Low: $96.785. 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. :theflyonthewall.com 08:45 EDT SPX theflyonthewall.com: S&P 500: Pivot points The following are the pivot points for the SPX. Pivot High: 1989.685, Pivot Low: 1984.085. 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. :theflyonthewall.com 08:45 EDT $COMP theflyonthewall.com: Nasdaq Composite: Pivot points The following are the pivot points for the $COMP. Pivot High: 4478.805, Pivot Low: 4459.235. 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. :theflyonthewall.com 08:45 EDT NDX theflyonthewall.com: Nasdaq 100 Index: Pivot points The following are the pivot points for the NDX. Pivot High: 3990.345, Pivot Low: 3968.505. 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. :theflyonthewall.com 08:45 EDT theflyonthewall.com: Treasury Action: yields rotated lower Treasury Action: yields rotated lower on the headline durables gain, which came in around consensus and didn't really set off any alarm bells either way. With stocks already loitering in the red, that left the T-note yield to probe below Asian lows near 2.50% to lows of 2.49%, down from overnight highs near 2.52%. The 2s-10s spread is right on top of +200 bp again. Both supply and the FOMC loom next week, which could keep the bond market finely balanced for now. :theflyonthewall.com 08:44 EDT MXIM theflyonthewall.com: Maxim Integrated downgraded at MKM Partners As noted earlier, MKM Partners downgraded Maxim Integrated to Neutral from Buy. The firm thinks the company will have difficulty finding new customers for its mobility products, given the saturation of flagship smartphones and tablets in developed markets. Target $30. :theflyonthewall.com 08:41 EDT IMAX theflyonthewall.com: IMAX upgraded to Buy from Hold at Benchmark Co. Benchmark Co. upgraded IMAX to Buy with a $30.56 price target citing valuation and expectations for a strong 2015/2016 box office performance. :theflyonthewall.com 08:40 EDT theflyonthewall.com: U.S. durable goods orders rebounded 0.7% in June U.S. durable goods orders rebounded 0.7% in June after a 1.0% May decline (revised down from -0.9%). The latter was the first decline since January. Transportation orders were up 0.6% as the 2.8% drop in May (revised from -3.0%) was partly unwound. Excluding transportation, orders were up 0.8% versus -0.1% previously. Nondefense capital goods orders excluding aircraft rebounded 1.4% versus the 1.2% May decline (revised from -1.1%). Shipments inched up 0.1% for a 6th straight monthly gain. Nondefense capital goods shipments excluding aircraft fell 1.0%. Inventories increased 0.4%. :theflyonthewall.com 08:38 EDT NQ theflyonthewall.com: NQ Mobile August weekly volatility at 134 into Q3 NQ Mobile August weekly call option implied volatility is at 134, August is at 125, September is at 148, January is at 142; compared to its 26-week average of 137 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on July 28. :theflyonthewall.com 08:36 EDT CTCT theflyonthewall.com: Constant Contact price target raised to $40 from $37 at Canaccord Canaccord raised its price target on Constant Contact to $40 form $37 citing its accelerating growth, improving margins, and compelling valuation. The firm keeps its Buy rating on the stock. :theflyonthewall.com 08:36 EDT DECK theflyonthewall.com: Deckers Outdoor margin recovery continues, says Janney Capital Janney Capital believes a move towards mid- to upper-teens operating margins remains possible for Deckers and that multiple expansion and continuing weak sentiment around the stock makes the risk/reward favorable. Janney maintains its Buy rating on Deckers and raised its fair value estimate on shares to $100 from $94. :theflyonthewall.com 08:35 EDT GM theflyonthewall.com: General Motors downgraded at CLSA As previously reported, CLSA downgraded General Motors to Outperform from Buy. The firm said GM's pricing is unpredictable and questions its ability to derive new truck price gains. Price target lowered to $40 from $45. :theflyonthewall.com 08:35 EDT PTEN theflyonthewall.com: Patterson-UTI Energy upgraded at CLSA As previously reported,As previously reported, CLSA upgraded Patterson-UTI Energy two notches to Outperform from Sell. The firm upgraded shares citing execution of its growth plan and raised the price target to $43 from $33. :theflyonthewall.com 08:35 EDT AVY theflyonthewall.com: Avery Dennison sees FY14 adjusted EPS $3.00-$3.10, consensus $3.03 :theflyonthewall.com 08:34 EDT theflyonthewall.com: Stock futures suggest relatively quiet open Stock futures continue to suggest a relatively flat open following the release of the durable goods orders report. The data showed that orders rose 0.7% overall in June versus expectations of an increase of 0.5%. Excluding transportation items, the core reading was up 0.8% versus expectations of an increase of 0.5%. :theflyonthewall.com 08:33 EDT CCR theflyonthewall.com: Countrywide Credit issues update on recovery of loan guarantee payments China Commercial Credit said it has made progress toward recovering a significant portion of the $5.4M it paid in Q1 to lenders on behalf of 11 loan guarantee service customers who had borrowed funds from these lenders but defaulted on their loan repayments. After determining that the majority of these defaulting borrowers had subsequently acquired the capability of repaying these funds, CCCR recovered approximately $0.7M in cash from these borrowers and converted an additional $2.1M of their debt into one-year loan notes payable by the borrowers directly to the company. All funds reclaimed via the above measures will be applied to CCCR's total capital available for use on its microfinance lending and loan guarantee businesses. The company expects to announce that its second quarter payments to lenders on behalf of loan guarantee customers, although less than in the first quarter, will still amount to about $3.7M. Of this total, CCCR has thus far recovered $1.1M and converted an additional $1.6M of their debt into one-year loan notes payable by the borrowers directly to the company. :theflyonthewall.com 08:33 EDT MXIM theflyonthewall.com: Maxim Integrated consumer business poised to rebound, says BMO Capital After Maxim Integrated reported weaker than expected Q4 results, BMO Capital nonetheless continues to believe that the company's consumer business should rebound as it ramps up newer product categories in the December quarter. The firm thinks the rest of the company's business is continuing to perform in-line with expectations. It cut its price target on the shares to $34 from $38 but keeps an Outperform rating. :theflyonthewall.com 08:32 EDT DGX theflyonthewall.com: Quest Diagnostics price target raised to $74 from $68 at Maxim Maxim raised its price target for Quest Diagnostics shares to $74 following the company's Q2 and recommends investors buy the stock. The firm reiterates a Buy rating on the name. :theflyonthewall.com 08:32 EDT AVY theflyonthewall.com: Avery Dennison sees FY14 adjusted EPS growth 12%-16%, consensus $3.03 :theflyonthewall.com 08:32 EDT theflyonthewall.com: Credit Suisse macroeconomics analysts hold analyst/industry conference call Analysts provide an industry update and outlook on an Analyst/Industry conference call to be held on July 28 at 8 am. :theflyonthewall.com 08:32 EDT TYC theflyonthewall.com: Tyco says currently looking at six potential M&A deals 'actively' Says current M&A targets range from small technology deals up to $200M transactions. :theflyonthewall.com 08:31 EDT AVY theflyonthewall.com: Avery Dennison reports Q2 adjusted EPS 80c, consensus 79c Reports Q2 revenue $1.62B, consensus $1.62B. :theflyonthewall.com 08:31 EDT ASMB theflyonthewall.com: Assembly Biosciences will not pursue further development of VEN 307 Assembly Biosciences announced that it will not pursue further development of VEN 307, an investigational product for the treatment of anal fissures. VEN 307 was being developed by Ventrus Biosciences prior to its recent merger with Assembly Pharmaceuticals. Post-merger, Assembly Biosciences is focused on development of its potentially curative programs for HBV and CDAD. At a meeting last month, the FDA indicated that it would consider accepting for review a New Drug Application for VEN 307, but that chances of approval were unclear without another clinical trial. As a result of this feedback and the shift in the company's strategic focus post-merger, management has decided to forego further investment in the VEN 307 program. :theflyonthewall.com 08:30 EDT WTBA theflyonthewall.com: West Bancorp reports Q2 EPS 30c, consensus 28c :theflyonthewall.com 08:30 EDT ATRC theflyonthewall.com: AtriCure posted outstanding Q2 results, says Canaccord Canaccord said Atricure posted outstanding Q2 results, citing its growth trajectory, its integration of the Estech acquisition, and its investments in education and product development. The firm feels Atricure is undervalued and reiterates its Buy rating and $26 price target on the shares. :theflyonthewall.com 08:29 EDT GRUB theflyonthewall.com: GrubHub reported very strong Q2 results, says Canaccord Canaccord said GrubHub reported very strong Q2 results with every metric ahead of the firm's estimates, citing an increased take rate, increased Diner growth, and improved pricing of its Seamless platform. Canaccord raised its price target on GrubHub to $42 from $40 and keeps its Buy rating on the stock. :theflyonthewall.com 08:28 EDT HLF, PEP theflyonthewall.com: Herbalife confirms Alan Hoffman as EVP of global corporate affairs Herbalife (HLF) announced that it has appointed Alan L. Hoffman to the newly established role of Executive Vice President of Global Corporate Affairs reporting to Michael O. Johnson, Herbalife’s chairman and CEO. Hoffman will lead public policy, corporate communications, government affairs, community relations and philanthropy, effective August 25. Presently, he serves as the Senior Vice President for Global Public Policy at PepsiCo (PEP), where he oversees policy development, external relations and government relations. :theflyonthewall.com 08:28 EDT TYC theflyonthewall.com: Tyco raises FY14 EPS ex-items view to $1.96-$1.98 from $1.93-$1.97 Consensus $1.98. :theflyonthewall.com 08:28 EDT GOLD theflyonthewall.com: Randgold Resources downgraded to Underweight from Neutral at HSBC HSBC downgraded shares citing valuation. Price target raised to $31 from $27.90. :theflyonthewall.com 08:27 EDT RGLD theflyonthewall.com: Royal Gold downgraded to Underweight from Neutral at HSBC HSBC downgraded shares citing valuation. Price target raised to $84.50 from $83. :theflyonthewall.com 08:27 EDT ABX theflyonthewall.com: Barrick Gold downgraded to Underweight from Neutral at HSBC HSBC downgraded shares citing valuation. Price target remains $18. :theflyonthewall.com 08:27 EDT AUY theflyonthewall.com: Yamana Gold downgraded to Underweight from Neutral at HSBC HSBC downgraded shares citing valuation. Price target remains $8.20. :theflyonthewall.com 08:27 EDT AEM theflyonthewall.com: Agnico-Eagle downgraded to Underweight from Neutral at HSBC HSBC downgraded shares citing valuation. Price target raised to $33.70 from $32.50. :theflyonthewall.com 08:27 EDT TYC theflyonthewall.com: Tyco sees Q4 EPS ex-items 54c-56c, consensus 56c Sees Q4 revenue $2.73B, consensus $2.71B. Guidance issued on Q3 earnings conference call. :theflyonthewall.com 08:25 EDT GLMD theflyonthewall.com: Galmed to host conference call Conference Call to discuss 2Q14 earnings and provide an update on current developments with the company's clinical program for Aramchol will be held on July 25 at 8:30 am. Webcast Link :theflyonthewall.com 08:24 EDT DANOY theflyonthewall.com: Danone backs FY14 view for 4.5%-5.5% sales growth Danone said 1H performance is in line with the Group roadmap and confirms that Danone’s business is solid: "sales have stabilized in Europe, where the Group continues to adapt its business portfolio and structures; emerging markets continue to report strong growth; and Early Life Nutrition sales in China are moving ahead." Danone has set the following targets for full-year 2014: • like-for-like sales growth of between +4.5% and +5.5%; trading operating margin stable within a range of -20 bps and +20 bps, reflecting the flexibility that the Group seeks to manage its operations, in particular for its Early Life Nutrition business in Asia; free cash-flow of around EUR1.5B excluding exceptional items. :theflyonthewall.com 08:21 EDT FLS theflyonthewall.com: Flowserve upgraded to Buy from Hold at Maxim Maxim upgraded Flowserve to Buy from Hold following the Q2 report. The firm said Flowserve's leverage was demonstrated in Q2 and backlog is expected to increase in the coming quarters. Price target is $92. :theflyonthewall.com 08:20 EDT DANOY theflyonthewall.com: Danone reports Q2 like-for-like sales up 2.3% to EUR5.41B Danone reports Q2 consolidated sales declined 5.5% to total EUR5.406B. Excluding the impact of changes in the basis for comparison, which include exchange rates and scope of consolidation, sales were up 2.3%. This organic growth reflects a 3.9% decrease in sales volume and a 6.2% rise in value. First half underlying fully diluted EPS totaled EUR1.16, down 11.1% like-for-like from the first half of 2013. The company said, “The first half of the year was particularly eventful, and had all of our teams 100% mobilized. First, we responded to record milk prices with key initiatives in various fields —pricing, mix, cost-cutting measures—, all designed to rebuild margins that had come under serious pressure in the first quarter. And these efforts paid off." :theflyonthewall.com 08:20 EDT theflyonthewall.com: Fed funds opened at 0.09% Fed funds opened at 0.09%. The rate ranged from 0.05% to 0.31250% on Thursday with a 0.09% effective rate as the 2-week maintenance period came to a close. Interbank borrowing rates remained volatile at today's Libor fixing. The overnight dollar Libor rate edged up to 0.09150% after dipping to 0.09130% yesterday. The 1-week rate slipped to 0.12200%, unwinding yesterday's move up to 0.12325%. The 3-month rate fell to 0.23410% from 0.23510%. And the 12-month rate rose to 0.56010% versus Thursday's 0.55710%. :theflyonthewall.com 08:19 EDT GIMO theflyonthewall.com: Gigamon has limited visibility, says Barclays Barclays said Gigamon has limited visibility into business trends and that shares will remain under pressure as it transitions the operating model and go-to-market efforts improve. Shares are Equal Weight rated with a $14 price target, down from $16. :theflyonthewall.com 08:19 EDT theflyonthewall.com: House Science, Space and Technology Committee to hold a hearing The Committee holds a Markup: "H.R. 2996, The Revitalize American Manaufacturing & Innovation Act of 2013" on July 25 at 10 am. Webcast Link :theflyonthewall.com 08:18 EDT TRLA, Z, PCLN theflyonthewall.com: Zillow, Trulia merger story viewed as credible at Deutsche Bank Deutsche Bank views Bloomberg's report of merger talks between Zillow (Z) and Trulia (TRLA) as credible, saying the deal would make a lot of sense. The firm says Trulia shares would be worth around $63 in a takeover when using Priceline's (PCLN) acquisition of OpenTable as a comparison. Even at that price, the firm sees nearly 20% upside for Zillow's enterprise value should an acquisition occur. Deutsche notes that neither company has denied yesterday's report, nor has either company announced an earnings date. It cautions, though, that the potential merger could easily fall apart as well. It has a Buy rating on Trulia and Hold rating on Zillow. :theflyonthewall.com 08:15 EDT PFPT theflyonthewall.com: Proofpoint price target raised to $44 from $33 at JMP Securities JMP Securities increased its price target on Proofpoint after the company reported stronger than expected results. The firm thinks the company is poised to gain additional market share, and it reiterates an Outperform rating. :theflyonthewall.com 08:15 EDT theflyonthewall.com: Durable Goods Orders Ex-transportation to be reported at 08:30 June Durable Goods Orders Ex-transportation will be reported at 08:30 . Current consensus is 0.7% for the month :theflyonthewall.com 08:15 EDT theflyonthewall.com: Durable Goods Orders to be reported at 08:30 June Durable Goods Orders will be reported at 08:30 . Current consensus is 0.5% for the month :theflyonthewall.com 08:14 EDT TYC theflyonthewall.com: Tyco says would not expect Europe to be 'significant driver of growth' in FY14 Tyco management says company performing relatively well given environment in Europe, but that it does not expect the region to be a "significant driver of growth" this year. Tyco says it continues to target buying back 30M shares in 2H. Comments from Tyco's Q3 earnings conference call. :theflyonthewall.com 08:13 EDT MYOS theflyonthewall.com: MYOS extends agreement for Fortetropin MYOS announced that it has signed an extension of its supply agreement with Deutsches Institut fuer Lebensmitteltechnik e.V, or DIL, the German Institute for Food Technologies, for the continued manufacturing and supply of Fortetropin, the first clinically proven natural myostatin inhibitor. DIL Under the terms of the agreement, DIL will manufacture and supply Fortetropin exclusively for MYOS through the end of 2016 with a significant cost-savings component. The supply relationship maintains the stable, world-class manufacturing and supply of Fortetropin, the primary proprietary ingredient in MYOS' core muscle health bionutrition supplement products. Fortetropin is produced using a proprietary method in accordance with the highest industry standards, incorporating DIL's state of the art High Pressure Pasteurization, or HPP, technology for preserving the high quality freshness of the natural ingredients. Use of the proprietary manufacturing process at DIL's cutting edge facilities ensures the continued efficacy and quality of Fortetropin. The Supply Agreement extension also requires ongoing adherence to the highest levels of product testing. :theflyonthewall.com 08:12 EDT INFA theflyonthewall.com: Informatica should be bought on weakness, says JMP Securities After Informatica reported higher than expected Q2 EPS but lower than expected revenue and cut its full-year EPS guidance, JMP Securities cut its price target on the stock to $42 from $52. However, the firm thinks the company has a capable management team and could easily generate signle digit growth and rising operating margins if necessary. The firm also finds the stock's valuation attractive and thinks it remains a highly strategic asset. It keeps an Outperform rating. :theflyonthewall.com 08:12 EDT PINC theflyonthewall.com: Premier forms strategic relationship with UH University Hospitals, or UH, in Cleveland, Ohio has expanded its relationship with Premier to improve health of the communities it serves. As part of the new strategic relationship, Premier and UH have committed to a framework that creates an innovative and collaborative environment to support the efficient delivery of best practices across UH's system, and to enable Premier's development of new data analytics and tools to support rapidly changing healthcare models. The value of the contracts was not disclosed. :theflyonthewall.com 08:10 EDT ISSI theflyonthewall.com: Integrated Silicon upgraded to Buy from Hold at Feltl Feltl upgraded Integrated Silicon to Buy following the Q2 report and guidance. The firm believes Integrated Silicon's growth will continue in future years given long product life cycles and shares gains. Price target is $17.50. :theflyonthewall.com 08:10 EDT LKFN theflyonthewall.com: Lakeland Financial reports Q2 EPS 68c, consensus 66c Reports Q2 book value per share $20.77. Reports Q2 Tier 1 capital ratio 12.86%. Reports Q2 net charge-offs 0.08%. :theflyonthewall.com 08:10 EDT theflyonthewall.com: U.S. Durable Goods Preview U.S. Durable Goods Preview: June durable goods orders are expected to rebound 1.0% (median 0.6%) on the heels of a 1.0% decline in May. Shipments for the month should be up 1.0% as well, following a 0.3% gain in May. Inventories are seen up 0.8% following a 1.0% gain in May which would leave the I/S ratio steady at 1.66 from last month. :theflyonthewall.com 08:10 EDT theflyonthewall.com: Fed funds opened at 0.09% Fed funds opened at 0.09%. The rate ranged from 0.05% to 0.31250% on Thursday with a 0.09% effective rate as the 2-week maintenance period came to a close. Interbank borrowing rates remained volatile at today's Libor fixing. The overnight dollar Libor rate edged up to 0.09150% after dipping to 0.09130% yesterday. The 1-week rate slipped to 0.12200%, unwinding yesterday's move up to 0.12325%. The 3-month rate fell to 0.23410% from 0.23510%. And the 12-month rate rose to 0.56010% versus Thursday's 0.55710%. :theflyonthewall.com 08:08 EDT IP, RKT, PKG, KS, UFS, GLT, GPK theflyonthewall.com: MLP potential could serve as floor for stocks, says Deutsche Bank Deutsche Bank says Perry Capital's proposal for containerboard producers with mills utilizing mostly virgin fiber to consider MLP structures is "not without merit." The firm believes the potential for MLP qualification will serve as a near-term floor for stocks in the group. Deutsche says companies that operate kraft mill assets include International Paper (IP), RockTenn (RKT), Packaging Corp. (PKG), KapStone (KS), Domtar (UFS), Glatfelter (GLT) and to a lesser extent Graphic Packaging (GPK). :theflyonthewall.com 08:07 EDT PFS theflyonthewall.com: Provident Financial reports Q2 EPS ex-items 31c, consensus 31c Reports Q2 book value per share $17.28. :theflyonthewall.com 08:07 EDT CSTM theflyonthewall.com: Constellium downgraded to Buy from Conviction Buy at Goldman Goldman removed Constellium from the Conviction Buy List based on lack of near-term catalysts. Price target lowered to $36 from $40. :theflyonthewall.com 08:07 EDT GTHP theflyonthewall.com: Guided Therapeutics files PMA amendment with FDA for LuViva Scan Guided Therapeutics announced that it has filed an amendment to its premarket approval application with the U.S. Food and Drug Administration for the LuViva Advanced Cervical Scan. The filing follows the face-to-face meeting the company had with the FDA in May and addresses questions raised in a September 6, 2013 not-approvable letter that the company received from the agency. The FDA has 180 days to respond to the amendment. The company has regulatory approval to sell LuViva in Europe with the Edition 3 CE mark, and has marketing approvals from COFEPRIS in Mexico, Health Canada and Singapore Health Sciences Authority, among others. Additionally, expansion efforts are ongoing in the Middle East, Asia and Latin America. :theflyonthewall.com 08:06 EDT BIDU theflyonthewall.com: Baidu price target raised to $275 from $220 at Brean Capital Brean Capital raised its price target on Baidu to $275 from $220 and views the stock as a core holding in the China internet space. The firm sees a competitive edge through its technology innovations, robust revenue growth, and margin expansion and keeps a Buy rating on Baidu. :theflyonthewall.com 08:05 EDT TCB theflyonthewall.com: TCF Financial reports Q2 EPS 29c, consensus 27c Reports Q2 revenue $310.1M, consensus $204.99M. Reports Q2 provision for credit losses $9.9M. Reports Q2 non-accrual loans and leases of $260.3M. Reports Q2 loan and lease originations $3.5B. Reports return on average tangible common equity of 12.72%. :theflyonthewall.com 08:04 EDT RFMD, TQNT theflyonthewall.com: RF Micro Devices reported strong Q2 result, says Brean Capital Brean Capital said RF Micro Devices (RFMD) reported a strong quarter off broad based strength across its end markets. The firm noted the company achieved industry leading gross margins and synergies with TriQuint Semiconductor (TQNT). Brean raised its price target on RF Micro to $14 from $12 and keeps its Buy rating on the stock. :theflyonthewall.com 08:04 EDT GMO theflyonthewall.com: General Moly announces court order confirming BLM ROD project approval General Moly announced that the U.S. District Court for the District of Nevada issued its order denying the plaintiffs' Motion for Summary Judgment which sought to vacate the U.S. Bureau of Land Management's November 2012 Record of Decision approving the plan of operations for the development and construction of the Mount Hope project and the corresponding final environmental impact Statement prepared by the BLM. The company said, "We will continue working closely and collaboratively with all of our stakeholders to develop the Mt. Hope Project in an environmentally and socially responsible manner, We are pursuing financing alternatives for the Mt. Hope Project, and continue to have substantive dialogue with potential strategic partners capable of supporting a debt package to provide the bulk of the Mt. Hope Project’s capital requirements.” The ROD issued by the BLM for the Mt. Hope project approved the plan of operations for construction and operation of the mining and processing facilities and also granted the Rights-of-Way for the 230 kV power transmission line. :theflyonthewall.com 08:04 EDT CAB theflyonthewall.com: Cabela's upgraded to Buy from Neutral at DA Davidson DA Davidson upgraded Cabela's to Buy citing stabilizing sales and compelling growth. Price target is $72. :theflyonthewall.com 08:03 EDT NED theflyonthewall.com: Noah Education announces shareholders approval of merger agreement Noah Education announced that at an extraordinary general meeting held today, the company's shareholders voted in favor of the proposal to approve the previously announced agreement and plan of merger dated April 2, which was amended by Amendment No. 1 to the Agreement and Plan of Merger dated as of June 9, among the Company, Rainbow Education Holding Limited and Rainbow Education Merger Sub Holding Limited. :theflyonthewall.com 08:02 EDT JMP theflyonthewall.com: JMP Group reports Q2 operating EPS 18c, two estimates 15c Reports Q2 revenue $57.5M, one estimate $37M. Reports Q2 adjusted net revenue $50.6M. :theflyonthewall.com 08:02 EDT SBGI theflyonthewall.com: Sinclair Broadcast to close on Allbritton statoins on August 1 Sinclair Broadcast announced that the FCC and the Department of Justice have approved the Company's acquisition of the Allbritton television stations. The company intends to close the transaction on August 1. :theflyonthewall.com 08:01 EDT SMLR theflyonthewall.com: Selmer Scientific reports Q2 EPS (22c), one estimate (19c) Reports Q2 revenue $846,000, one estimate $950,000. :theflyonthewall.com 08:01 EDT ZGNX theflyonthewall.com: Zogenix price target lowered to $3.50 from $5 at Stifel Stifel cut its price target on Zogenix after the company solid its primary revenue line, Sumavel DosePro, to Endo (ENDP). Stifel applauds the sale of the product as the firm thinks it was challenging for Zogenix to sell. The firm thinks the company's performance should improve, as it is upbeat about the outlook for the company's first abuse deterrent formulation. The firm keeps a Buy rating on the shares. :theflyonthewall.com 08:01 EDT INFA theflyonthewall.com: Informatica downgraded to Neutral from Positive at Susquehanna Note this is the third downgrade of the day. :theflyonthewall.com 08:00 EDT MOG.A, MOG.B theflyonthewall.com: Moog sees FY15 EPS $4.25, consensus $4.56 Sees FY15 revenue $2.69B, consensus $2.74B. :theflyonthewall.com 08:00 EDT ATNY theflyonthewall.com: API Technologies awarded million dollar order for satellite communication system API Technologies announced it has received a $1M order for the manufacture of satellite communication systems from a leading commercial wireless network equipment company. :theflyonthewall.com 08:00 EDT theflyonthewall.com: FX Action: USD-CAD touched 1.0768 highs FX Action: USD-CAD touched 1.0768 highs overnight, its best of the week, though continues to struggle over 1.0760. With risk taking levels remaining wobbly though, USD-CAD downside has been difficult this week as well, though bigger picture, range trade remains in place, and will likely continue into the weekend. The Canadian calendar is empty, so traders will look to U.S. durables, equity markets, and commodity prices for guidance this morning. :theflyonthewall.com 08:00 EDT MOG.A, MOG.B theflyonthewall.com: Moog sees FY14 EPS $3.65, consensus $3.74 Sees Fy14 revenue $2.65B, consensus $2.64B. :theflyonthewall.com 07:59 EDT GEVA theflyonthewall.com: Synageva management to meet with JPMorgan Meeting to be held in Chicago on July 31 hosted by JPMorgan. :theflyonthewall.com 07:58 EDT MOG.A, MOG.B theflyonthewall.com: Moog reports Q3 EPS $1.08, consensus $1.04 Reports Q3 revenue $683.7M, consensus $667.65M. Reports Q3 backlog of $1.38B, up 6% from the same quarter a year ago. :theflyonthewall.com 07:57 EDT AGN theflyonthewall.com: Allergan says CHMP recommends extending OZURDEX marketing authorization Allergan announced that the European Union’s Committee for Medicinal Products for Human Use, or CHMP, has recommended extending the marketing authorization for OZURDEX to treat adult patients with vision loss due to diabetic macular edema who are pseudophakic, or who are considered insufficiently responsive to, or unsuitable for non-corticosteroid therapy. The CHMP is the scientific committee of the European Medicines Agency that recommends medicines for marketing authorization across the 28 member states of the EU. The final decision from the European Commission is expected within a few months. :theflyonthewall.com 07:57 EDT RBS, KKR theflyonthewall.com: RBS says private equity investment in Ulster possible, Reuters reports Royal Bank of Scotland (RBS) acknowledged that a private equity investment in its Ulster Bank unit is among the options it is exploring, according to Reuters, citing comments made by CEO Ross McEwan during a conference call with reporters. The Irish Examiner and Sunday Times have previously reported that Ulster could be sold or invested in by a PE firm, with the Times noting that Warburg Pincus, CVC, KKR (KKR) and Permira were among the groups examining an investment. Reference Link :theflyonthewall.com 07:55 EDT BCOV theflyonthewall.com: Brightcove price target lowered to $15 from $20 at Stifel Stifel cut its price target on Brightcove after the company provided weaker than expected guidance. However, the firm doesn't think the company's business is broken and keeps a Buy rating. :theflyonthewall.com 07:55 EDT theflyonthewall.com: Treasury Market Outlook: Treasuries are a little lower Treasury Market Outlook: Treasuries are a little lower, in contrast to gains in European debt markets. The 10-year Treasury yield is modestly higher at 2.50%, though has pared losses after testing near 2.52% in Tokyo. German Bunds are outperforming after a weaker than expected Ifo confidence print. A 0.8% rise in U.K. Q2 GDP was generally ignored, as was an acceleration in Eurozone M2. Stocks have headed south on an earnings miss from LVMH and others, while U.S. equity futures are seeing some profit taking after Amazon and Visa disappointed late yesterday. Meanwhile geopolitics are setting a nervous tone. Today's action should be the quiet before the storm with a very busy, and potentially volatile week ahead thanks to all whole host of important macro events. Today' data calendar has only June durable goods. Also due are earnings from Xerox and Stanley Black & Decker, and a few others. :theflyonthewall.com 07:54 EDT AMZN theflyonthewall.com: Amazon.com downgraded to Market Perform from Outperform at Raymond James :theflyonthewall.com 07:54 EDT CDNS theflyonthewall.com: Cadence Design management to meet with JPMorgan Meetings to be held in Los Angeles/Pasadena/San Diego on July 31 hosted by JPMorgan. :theflyonthewall.com 07:54 EDT BCOV theflyonthewall.com: Brightcove downgraded to Market Perform from Strong Buy at Raymond James :theflyonthewall.com 07:53 EDT TSRO theflyonthewall.com: TESARO shares could gain traction with 'busy' 2015, says Leerink Leerink says shares of TESARO could gain traction with investors given the company's "busy" 2015. The firm believes investor interest could pick up into the Phase III ovarian cancer data. It keeps an Outperform rating on the stock with a $57 price target. :theflyonthewall.com 07:52 EDT BBEP, QRE theflyonthewall.com: BreitBurn Energy merger positive, says Stifel After BreitBurn (BBEP) agreed to merger with QR Energy (QRE), Stifel thinks the deal provides BreitBurn with increased financial flexibility, possible cost synergies, and meaningful scale that can be leveraged both operationally and in the acquisition market. The firm thinks the combined entity can raise its distribution 5.5% per year. It raised its price target on BreitBurn to $24 from $21 and keeps a Buy rating on the shares. :theflyonthewall.com 07:51 EDT TEX theflyonthewall.com: Terex weakness a buying opportunity, says Morgan Stanley Morgan Stanley views weakness in Terex on 2H outlook concerns as overdone and a buying opportunity. Shares are Overweight rated with a $51 price target, down from $53. :theflyonthewall.com 07:51 EDT KLAC theflyonthewall.com: KLA-Tencor price target lowered to $80 from $85 at UBS UBS lowered its price target on KLA-Tencor to $80 from $85 following its Q4 results. However, the firm believes a strong shipment recovery starting in the December quarter and its stock buyback program should support the stock and keeps a Buy rating on the name. :theflyonthewall.com 07:50 EDT ABBV theflyonthewall.com: AbbVie reports Q2 Global HUMIRA sales up 26.2% to $3.29B Total company sales growth was also driven by strong growth from key products including Synthroid, Sevoflurane and Duodopa. :theflyonthewall.com 07:50 EDT TWOU theflyonthewall.com: 2U initiated with an Outperform at Barrington Target $20. :theflyonthewall.com 07:50 EDT theflyonthewall.com: N.Y. FX Outlook N.Y. FX Outlook: The dollar firmed up fairly broadly overnight, with a softer German Ifo reading weighing on the euro, though keeping EUR-USD above its trend low posted on Thursday. USD-JPY inched higher, adding to yesterday's modest gains, though looking to run into resistance ahead of the 102.00 level. Cable recovered from one-month lows near 1.6860, though is likely to run into selling interest at 1.7000. The U.S. calendar reveals just the June durables report ay 8:30 EDT, where orders are expected to jump 1.0%, following the prior month's sharp declines. :theflyonthewall.com 07:48 EDT ABBV theflyonthewall.com: AbbVie sees Q3 adjusted EPS 77c-79c, consensus 77c :theflyonthewall.com 07:48 EDT BJRI theflyonthewall.com: BJ's Restaurants price target raised to $43 from $38 at Stifel Stifel increased its price target on BJ's after the company reported higher than expected EPS. The firm is impressed with the initial effects of the company's restructuring. It keeps a Buy rating on the shares. :theflyonthewall.com 07:48 EDT ABBV theflyonthewall.com: AbbVie backs FY14 adjustd EPS $3.06-$3.16, consensus $3.14 AbbVie's 2014 outlook excludes any potential revenue from the expected 2014 U.S. launch of its hepatitis C therapy. :theflyonthewall.com 07:47 EDT GOOG theflyonthewall.com: Google X project to gather 'baseline' of healthy human, WSJ says Google X, the search giant's research arm, is undertaking "Baseline Study," an ambitious project to collect genetic and molecular information first from 175 people, and later from thousands more, to amass a much larger and broader set of new data on what a healthy human being should be than is currently available or being gathered by other mass studies, said The Wall Street Journal. Reference Link :theflyonthewall.com 07:47 EDT DNKN theflyonthewall.com: Dunkin' Brands pullback a buying opportunity, says Jefferies Jefferies views yesterday's pullback in shares of Dunkin' Brands as a buying opportunity. The firm expects menu innovation and discounting to help second half results and it keeps a Buy rating on the stock with a lowered price target of $50. :theflyonthewall.com 07:47 EDT ABBV theflyonthewall.com: AbbVie reports Q2 adjusted EPS 82c, consensus 76c Reports Q2 revenue $4.93B, consensus $4.70B :theflyonthewall.com 07:47 EDT CAB theflyonthewall.com: Cabela's downgraded to Neutral from Buy at Monness Crespi :theflyonthewall.com 07:46 EDT GM theflyonthewall.com: General Motors downgraded to Outperform from Buy at CLSA :theflyonthewall.com 07:46 EDT PTEN theflyonthewall.com: Patterson-UTI Energy upgraded to Outperform from Sell at CLSA :theflyonthewall.com 07:46 EDT DECK theflyonthewall.com: Deckers Outdoor price target raised to $105 from $95 at ISI Group ISI Group believes Deckers investments are beginning to drive more consistent sales results and turning it into a lifestyles brand. The firm raised estimates and increased its price target to $105 from $95. Shares are Buy rated. :theflyonthewall.com 07:46 EDT BIDU theflyonthewall.com: Baidu price target raised to $250 from $215 at Stifel Stifel increased its price target on Baidu after the company reported higher than expected Q2 revenue and EBITDA. The firm notes that the company's Q3 revenue guidance also beat expectations and it reiterates a Buy rating. :theflyonthewall.com 07:44 EDT ALXN theflyonthewall.com: Alexion valuation looking increasingly compelling, says Stifel After Alexion reported higher than expected EPS but in-line revenue, Stifel thinks that investors are still too focused on the company's sales multiple and ignoring its increasingly attractive EPS multiple. Stifel expects expecting investor anticipation around Alexion's asfotase alfa to build. It keeps a Buy rating. :theflyonthewall.com 07:43 EDT GM theflyonthewall.com: General Motors sell-off an overreaction to messy Q2 results, says UBS UBS believes the sell-off in General Motors following its messy Q2 results is an overreaction. The firm said the company posted in-line EU profits and better than expected profits in both South America and Asia while North America missed. UBS, which notes that GM management was confident in the second half of the year and expect favorable pricing to return to North America, keeps its Buy rating and $54 price target on the stock. :theflyonthewall.com 07:42 EDT EQT theflyonthewall.com: EQT Corporation downgraded to Buy from Strong Buy at ISI Group ISI Group downgraded EQT Corporation to Buy from Strong Buy due to valuation and higher evacuation costs for Greenfield projects. Price target is $115. :theflyonthewall.com 07:40 EDT ARRS theflyonthewall.com: ARRIS added to Franchise Pick list at Jefferies Jefferies added shares of ARRIS to its Franchise Pick list citing confidence that the company's revenue growth is sustainable. The firm reiterates a Buy rating on the stock with a $40 price target. :theflyonthewall.com 07:40 EDT LPG theflyonthewall.com: Dorian LPG announces memorandum of understanding with HNA Logistics Dorian LPG announced that it has entered into a Memorandum of Understanding, with HNA Logistics Group to explore opportunities in the liquefied petroleum gas logistics market. Separately, Dorian LPG announced that it has today taken delivery of the eco VLGC "Comet" from Hyundai Heavy Industries Co. Ltd in Ulsan, South Korea. The vessel will immediately enter into a 5-year time charter with Shell. :theflyonthewall.com 07:40 EDT SBUX theflyonthewall.com: Starbucks weakness would be buying opportunity, says UBS UBS would use any weakness in Starbucks as a buying opportunity, as the firm considers the company's outlook attractive given the challenging environment. UBS expects momentum to continue behind the new K-cup and traditional packaged coffee innovation and rewards program. The firm raised its price target on Starbucks to $90 from $87 and keeps its Buy rating on the stock. :theflyonthewall.com 07:39 EDT theflyonthewall.com: SEC to hold an open commission meeting The Commission will hear an appeal on whether former employees of State Street Bank and Trust Company violated anti-fraud provisions, as alleged and, if so, the extent to which they should be sanctioned in a meeting being held at SEC Washington, D.C. offices on July 25 at 10 am. Webcast Link :theflyonthewall.com 07:39 EDT AMZN theflyonthewall.com: Amazon price target lowered to $400 from $410 at RW Baird Baird called Amazon's Q2 earnings report "solid" but lowered its price target on the stock to $400 from $410 citing the company's margin compression and Q3 guidance. The firm, which also noted the stabilization of paid unit growth and healthy usage trends, keeps its Outperform rating on the stock. :theflyonthewall.com 07:38 EDT DHI theflyonthewall.com: D.R. Horton downgraded to Neutral from Buy at MKM Partners As previously reported, MKM Partners downgraded D.R. Horton to Neutral from Buy. The analyst is concerned about near-term gross margins, earnings risk from impairments and lack of guidance. Price target lowered to $24 from $27. :theflyonthewall.com 07:37 EDT PCP theflyonthewall.com: Precision Castparts shares should be bought on weakness, says Wells Fargo After Precision Castparts reported slightly lower than expected Q1 EPS, Wells Fargo was surprised by the negative reaction to the results. The firm continues to expect the company to grow its EPS at a pace of about 15% and thinks the company's organic growth is poised to accelerate. It keeps an Outperform rating on the shares. :theflyonthewall.com 07:36 EDT CPLP theflyonthewall.com: Capital Product announces charter renewal for M/T Axios The company said, "The M/T Axios, a 47,782 dwt, IMO II/III Chemical Product Tanker built 2007, extended its employment with Capital Maritime & Trading for an additional charter term of a minimum of 12 months at the same day rate of $14,750 gross per day plus 50/50 profit share for breaching Institute Warranty Limits. The earliest redelivery under the new charter is in June 2015. In addition, our Sponsor has agreed, subject to the satisfaction or waiver of various conditions precedent, to contribute three 9,160 TEU eco-flex containerships and two eco medium range product tankers upon delivery to the Sponsor at prices below current market value, as well provide the Partnership with a right of first refusal over six additional eco medium range product tankers when delivered, in exchange for amending the target distributions to holders of Incentive Distribution Rights and an aggregate of $311.5M in cash for the three containerships and two tankers. The five vessels to be acquired by the Partnership are expected to be delivered to the Sponsor between March 2015 and November 2015, and the six vessels subject to the right of first refusal are expected to be delivered to the Sponsor between September 2015 and December 2016. The amendment, which is a condition precedent to the transaction referenced above, is subject to the satisfaction or waiver of various conditions precedent, including unitholder approval at the Annual General Meeting of the Partnership, scheduled for August 21. The transaction was unanimously recommended by the conflicts committee of our board and unanimously approved by our board." :theflyonthewall.com 07:36 EDT AMGN theflyonthewall.com: EMA adopts positive opinion on new indication for Xgeva The Committee for Medicinal Products for Human Use adopted a positive opinion recommending a variation to the terms of the marketing authorization for the medicinal product Xgeva from Amgen Europe B.V. The CHMP adopted a new indication as follows: "Treatment of adults and skeletally mature adolescents with giant cell tumor of bone that is unresectable or where surgical resection is likely to result in severe morbidity." :theflyonthewall.com 07:36 EDT SLP theflyonthewall.com: Simulations Plus to host conference call Conference call to discuss agreement to merge with Cognigen Corporation will be held on July 25 at 4:15 pm. Webcast Link :theflyonthewall.com 07:35 EDT MXIM theflyonthewall.com: Maxim Integrated downgraded at MKM Partners As previously reported, MKM Partners downgraded Maxim Integrated to Neutral from Buy. The firm downgraded shares citing limited demand catalysts for Mobility and lack of diversification. Price target is $30. :theflyonthewall.com 07:35 EDT RHHBY theflyonthewall.com: EMA recommends new indication for RoActemra in severe arthritis The Committee for Medicinal Products for Human Use adopted a positive opinion recommending a variation to the terms of the marketing authorization for the medicinal product RoActemra from Roche. The CHMP recommended approval of a new indication for treatment of severe, active and progressive rheumatoid arthritis in adults not previously treated with methotrexate. :theflyonthewall.com 07:34 EDT theflyonthewall.com: The FCC Consumer Advisory Committee to hold a meeting The Committee considers a recommendation from the Universal Service Working Group concerning inter-agency coordination relative to the Lifeline program and broadband adoption in a meeting being held at FCC Washington, D.C. offices on July 25 at 9 am. Webcast Link :theflyonthewall.com 07:34 EDT CPLP theflyonthewall.com: Capital Product reports Q2 EPS 4c, consensus 10c Reports Q2 revenue $47.44M, consensus $49.31M. :theflyonthewall.com 07:34 EDT NUE theflyonthewall.com: Nucor 'confident' in future favorable rulings for steel industry, Reuters says Commenting on recent positive outcomes for U.S. steelmakers in a steel pipe trade case, Nucor CEO John Ferriola that said the company remains confident that the steel industry is positioned for good outcomes to future cases too as it aims to arise from "a tsunami of imported steel, " according to Reuters, citing comments from Ferriola. The CEO said that he was feeling "good" about an upcoming final decision in a suit dealing with imports of steel rebar from Turkey and Mexico. Reference Link :theflyonthewall.com 07:33 EDT IMAX theflyonthewall.com: IMAX shares attractive at current levels, says JPMorgan JPMorgan views shares of IMAX as attractive at current levels ahead of the 2015/2016 film slate. The firm expects strong earnings growth and reiterates an Overweight rating on IMAX with a $32 price target. :theflyonthewall.com 07:33 EDT LM theflyonthewall.com: Legg Mason acquisition positive, says Wells Fargo After Legg Mason agreed to buy international equity manager Martin Currie, Wells Fargo thinks the deal will enable Legg Mason to gain a foothold in international equity, while enabling Currie to leverage Legg Mason's retail distribution channel. The firm does not expect the deal to affect Legg Mason's share buybacks. It keeps an Outperform rating on the shares. :theflyonthewall.com 07:33 EDT AGN theflyonthewall.com: EMA recommends expanded indication for Ozurdex The Committee for Medicinal Products for Human Use adopted a positive opinion recommending a variation to the terms of the marketing authorization for the medicinal product Ozurdex from Allergan Pharmaceuticals Ireland. The CHMP adopted a new indication as follows: "Ozurdex is indicated for the treatment of adult patients with visual impairment due to diabetic macular edema who are pseudophakic or who are considered insufficiently responsive to, or unsuitable for non-corticosteroid therapy." :theflyonthewall.com 07:32 EDT ABT, ABAX, BAYRY, HSKA, IDXX, MWIV, NEOG theflyonthewall.com: American Veterinary Medical Association to hold a conference AVMA Annual Convention is being held in Denver on July 25-29. :theflyonthewall.com 07:32 EDT LOCO theflyonthewall.com: Correction: El Pollo Loco 7.142M share IPO priced at $15.00 The deal range was $13.00-$15.00 range. Jefferies, Morgan Stanley and RW Baird acted as joint book running managers for the offering. :theflyonthewall.com 07:31 EDT ABBV theflyonthewall.com: EMA recommends expanded indication for Humira The Committee for Medicinal Products for Human Use adopted a positive opinion recommending a variation to the terms of the marketing authorization for the medicinal product Humira, offered by AbbVie. The CHMP adopted a new indication as follows: "Treatment of active enthesitis-related arthritis in patients, 6 years of age and older, who have had an inadequate response to, or who are intolerant of, conventional therapy." :theflyonthewall.com 07:30 EDT NVO theflyonthewall.com: Novo Nordisk receives positive opinion from CHMP Novo Nordisk announced that the Committee for Medicinal Products for Human Use, or CHMP, under the European Medicines Agency, or EMA, adopted a positive opinion, recommending marketing authorisation for Xultophy for the treatment of type 2 diabetes mellitus in adults. Xultophy is the intended brand name for IDegLira, the first once-daily single injection combination of Tresiba and Victoza, developed for the treatment of type 2 diabetes. The CHMP positive opinion recommends that Xultophy will be indicated for the treatment of adults with type 2 diabetes mellitus to improve glycaemic control in combination with oral glucose-lowering medicinal products when these alone or combined with basal insulin do not provide adequate glycaemic control. :theflyonthewall.com 07:30 EDT DSCI theflyonthewall.com: Derma Sciences sees sales of Medihoney dressings approaching $20M in 2014 :theflyonthewall.com 07:29 EDT OSTK theflyonthewall.com: Overstock.com upgraded to Buy from Neutral at B. Riley B. Riley upgraded Overstock to Buy and raised its price target to $22 from $19 citing solid results and commentary. The firm sees multiple sales leverage opportunities and said 2H comps are more favorable. :theflyonthewall.com 07:29 EDT theflyonthewall.com: Earnings keep averages at elevated levels U.S. equity futures are trading near fair value as investors continue to pore over earnings reports that were released throughout the week. The Q2 earnings season is more compact than other earnings seasons because it occurs during the summer months. Investors have been pleasantly surprised with both the level and quality of earnings. As a result, the equity indices have stayed near their peaks. Today investors will examine the durable goods orders report which is set to be released at 8:30 am ET. :theflyonthewall.com 07:29 EDT PFE theflyonthewall.com: EMA recommends indication for Ecalta to treat invasive candidiasis The Committee for Medicinal Products for Human Use adopted a positive opinion recommending a variation to the terms of the marketing authorization for the medicinal product Ecalta, offered by Pfizer. The CHMP adopted a change to an indication as follows: "Treatment of invasive candidiasis in adult patients." :theflyonthewall.com 07:27 EDT BMY theflyonthewall.com: EMA recommends expanded indication for Baraclude The Committee for Medicinal Products for Human Use adopted a positive opinion recommending a variation to the terms of the marketing authorization for the medicinal product Baraclude from Bristol-Myers Squibb Pharma EEIG. The CHMP adopted a new indication as follows: "Baraclude is also indicated for the treatment of chronic HBV infection in nucleoside naive paediatric patients from 2 to < 18 years of age with compensated liver disease who have evidence of active viral replication and persistently elevated serum ALT levels, or histological evidence of moderate to severe inflammation and/or fibrosis." :theflyonthewall.com 07:26 EDT OEC theflyonthewall.com: Orion Engineered Carbons 19.5M share IPO priced at $18.00 The deal size was increased to 19.5M shares from 18M shares and the deal priced below the $21.00-$24.00 range. Morgan Stanley, Goldman and UBS acted as joint book running managers for the offering. :theflyonthewall.com 07:25 EDT GILD theflyonthewall.com: Gilead receives positive opinion from CHMP for Zydelig Gilead Sciences announced that the Committee for Medicinal Products for Human Use, the scientific committee of the European Medicines Agency, has adopted a positive opinion on the company’s Marketing Authorization Application for Zydelig, a first-in-class treatment for patients with chronic lymphocytic leukemia and follicular lymphoma, the most common subtype of indolent non-Hodgkin lymphoma. The CHMP opinion supports the use of Zydelig in combination with rituximab for the treatment of adult patients with CLL who have received at least one prior therapy or, as first-line treatment in CLL patients in the presence of 17p deletion or TP53 mutation in patients unsuitable for chemo-immunotherapy and also as monotherapy for the treatment of adult patients with FL that is refractory to two prior lines of treatment. The CHMP’s recommendation will now be reviewed by the European Commission, which has the authority to approve medicines for use in the 28 countries of the European Union. The CHMP positive opinion for Zydelig is based on data from two clinical trials – Study 116 and Study 101-09. Study 116, a pivotal Phase 3 trial, investigated the efficacy and safety of Zydelig in combination with rituximab in patients with previously treated CLL. The Phase 2 101-09 study assessed the efficacy and safety of Zydelig in patients with iNHL who are refractory to rituximab and alkylating agents. Results of Study 116 and Study 101-09 were published in The New England Journal of Medicine in March 2014. :theflyonthewall.com 07:24 EDT DNKN theflyonthewall.com: Dunkin' Brands price target lowered to $46-$48 from $53-$55 at Wells Fargo Wells Fargo cut its price target on Dunkin' Brands after the company reported in-line Q2 EPS but lower than expected SSS at its core stores. The firm remains constructive on the name, given its belief that the company is poised to grow its EPS by low double digit percentage levels in 2015. It keeps an Outperform rating. :theflyonthewall.com 07:24 EDT BWLD theflyonthewall.com: Buffalo Wild Wings August volatility elevated into Q2 Buffalo Wild Wings August call option implied volatility is at 40, September is at 31, December is at 30; compared to its 26-week average of 32 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on July 29. :theflyonthewall.com 07:24 EDT WCG theflyonthewall.com: WellCare downgraded to Market Perform from Outperform at Wells Fargo Wells Fargo downgraded WellCare to Market Perform citing less confidence in management and weaker than expected performance in the new Florida Medicaid business following the company's Q2 results. Wells lowered its price target range for shares to $54-$58 from $83-$89. :theflyonthewall.com 07:24 EDT GIMO theflyonthewall.com: Gigamon sees Q3 revenue flat to slightly higher vs. Q2 Sees Q3 gross margins 77%-79%. Sees Q3 operating expenses sequentially flat. Chief Accounting Officer says the company's balance sheet remains strong. Guidance and comment provided during Gigamon Q2 earnings conference call last night. :theflyonthewall.com 07:23 EDT NVO theflyonthewall.com: EMA recommends approval for Novo Nordisk diabetes treatment The Committee for Medicinal Products for Human Use adopted a positive opinion, recommending the granting of a marketing authorization for the medicinal Xultophy, 100 units/mL + 3.6 mg/mL, solution for injection, intended for the treatment of type 2 diabetes mellitus. The applicant for this medicinal product is Novo Nordisk. :theflyonthewall.com 07:23 EDT EIX theflyonthewall.com: Edison International upgraded to Buy from Hold at Argus Argus upgraded Edison International to Buy based on valuation, strong cash flow, the retirement of the San Onofre nuclear plan and is positive that the loss-ridden Edison Mission Energy business is not longer part of the portfolio. Price target is $65. :theflyonthewall.com 07:22 EDT FNFG theflyonthewall.com: First Niagara reports Q2 EPS 19c, consensus 18c Reports Q2 book value per share $13.53. Reports Q2 Tier 1 capital ratio 9.57%. :theflyonthewall.com 07:22 EDT CNC, WCG theflyonthewall.com: Centene downgraded to Market Perform from Outperform at Wells Fargo Wells Fargo downgraded Centene (CNC) to Market Perform saying contribution from the Florida managed care Medicaid program may be lower than expected following comments from WellCare (WCG). Wells lowered its price target range for Centene shares to $79-$84 from $84-$89. :theflyonthewall.com 07:21 EDT DPS theflyonthewall.com: Dr Pepper Snapple operating trends may not be sustainable, says Wells Fargo After Dr. Pepper Snapple reported much higher than expected core Q2 EPS, Wells Fargo thinks the company's high profit growth may not be sustainable, given its soft revenue growth. The firm questions whether the company is spending enough on marketing and keeps an Underperform rating on the stock. :theflyonthewall.com 07:19 EDT EMR theflyonthewall.com: Emerson reports June orders up 5% June orders grew 5 percent, moderating from recent trends as uneven project timing contributed to slower growth. All segments grew, with Process Management and Industrial Automation strongest, and currency translation added 2 percentage points. Business investment levels continued to recover, albeit slowly and mixed among industries, as global economic conditions reflected uncertainty in some markets. Near term trends are expected to improve, with underlying orders growth anticipated between 5 and 7 percent in the fourth quarter. :theflyonthewall.com 07:18 EDT TCK theflyonthewall.com: Teck Resources downgraded to Neutral from Buy at UBS UBS downgraded Teck Resources to Neutral due to relative valuation, weak coal prices and high capex. :theflyonthewall.com 07:17 EDT GILD, JNJ theflyonthewall.com: EMA recommends approval for Gilead, Janssen blood cancer drugs The European Medicines Agency's Committee for Medicinal Products for Human Use, at its July meeting, recommended granting marketing authorizations for two new medicines with novel mechanisms of action for the treatment of different forms of rare cancers of the blood. Imbruvica and Zydelig are recommended for authorization in the treatment of adult patients with chronic lymphocytic leukemia who have received at least one prior treatment, as well as a first-line treatment for patients with a specific genetic mutation that makes them unsuitable for chemo-immunotherapy. Imbruvica, an orphan medicine, is also recommended for use in the treatment of adult patients with mantle cell lymphoma that has come back after previous treatments or is not responding to other treatments. Zydelig is also to be used for adult patients with follicular lymphoma that has not responded to two previous treatments. The CHMP opinion will now be sent to the European Commission for the adoption of a decision on EU-wide marketing authorizations. Once marketing authorisations have been granted, decisions about price and reimbursement will then take place at the level of each Member State considering the potential role/use of these medicines in the context of the national health system of that country. The marketing-authorization applicant for Imbruvica is Janssen-Cilag International (JNJ) and the marketing-authorization applicant for Zydelig is Gilead Sciences (GILD). :theflyonthewall.com 07:17 EDT GM, F theflyonthewall.com: GM, Ford optimistic on EU recovery amid Russia, Ukraine issues, Reuters says Ford (F) and GM (GM) both said that tensions in Ukraine have worsened a sales deceleration in Russia, but the automotive manufacturers feel that they are on the right path toward recovering their European operations after many years of economic imbalance in the region, according to Reuters, citing comments from the two car makers. Reference Link :theflyonthewall.com 07:17 EDT DTE theflyonthewall.com: DTE Energy sees FY14 operating EPS $4.20-$4.40, consensus $4.41 :theflyonthewall.com 07:16 EDT DTE theflyonthewall.com: DTE Energy reports Q2 operating EPS 73c, consensus 76c Reports Q2 revenue $2.70B, consensus $2.30B :theflyonthewall.com 07:15 EDT FOXA, TWX theflyonthewall.com: 21st Century Fox deal positive, says Wells Fargo After 21st Century Fox announced that it would sell its DBS business to BSkyB for $9.3B, Wells Fargo thinks the deal will help Fox overcome regulatory hurdles facing its potential Time Warner (TWX) deal. The firm also believes that Fox's decision to continue its share buybacks in conjunction with the Sky deal shows that it is committed to creating shareholder value and remaining disciplined. The firm keeps an Outperform rating on Fox. :theflyonthewall.com 07:14 EDT TEVA theflyonthewall.com: Teva August weekly volatility elevated into Q2 and outlook Teva August weekly call option implied volatility is at 34, August is at 25, September and January is at 22; compared to its 26-week average of 27 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on July 31. :theflyonthewall.com 07:14 EDT AAN theflyonthewall.com: Aaron's sees FY14 adjusted EPS $1.65-$1.75, consensus $1.76 Sees FY14 revenue excluding franchisees $2.65B-$2.7B, consensus $2.71B; Sees FY14 Progressive revenue $500M; Sees FY14 EBITDA for Progressive $45M-$50M. The company expects for the full year 2014 no net store growth in Company-operated Aaron's stores, after store closings. :theflyonthewall.com 07:14 EDT RBA theflyonthewall.com: Ritchie Bros. sells over $49M of equipment in TX Ritchie Bros. sold more than $49M of equipment items and trucks at its unreserved public auction in Fort Worth, Texas on July 23-24. Equipment sale highlights included a 2012 Caterpillar D6T XW crawler tractor, which sold for $295,000; three 2012 Kenworth T800 sleeper truck tractors that sold for $102,000 each; and three 2012 Kenworth T800 sleeper truck tractors that sold for $100,000 each. Bids were made in person at the auction site, online at rbauction.com and by proxy. :theflyonthewall.com 07:13 EDT AAN theflyonthewall.com: Aaron's sees Q3 adjusted EPS 36c-41c, consensus 46c Sees Q3 excluding franchisees revenue $695M, consensus $701.64M; Sees Q3 Progressive revenue $175M; Sees Q EBITDA for Progressive $15M-$17M :theflyonthewall.com 07:12 EDT AAN theflyonthewall.com: Aaron's identified more than $50M in potential annual cost savings Some of the specific actions being taken and cost savings identified in the core business are as follows: Annual cost savings of at least $15M in the areas of non-merchandise purchases, general operating expenses and manufacturing costs to be realized in 2015 and beyond; The closing of 44 stores in the third quarter is anticipated to reduce operating costs by an estimated $6M in 2014 and $17M annually beginning in 2015; The company plans to eliminate approximately $10M of annual operating expenses through restructuring operations and support functions, which it anticipates will include rationalization of personnel and associated costs. The impact of these reductions is anticipated to be seen in 2015; Enhancements in inventory management and related efficiencies are expected to result in a minimum of $10M in savings in 2015. :theflyonthewall.com 07:11 EDT X theflyonthewall.com: US Steel August weekly volatility elevated into Q2 and demand outlook US Steel August weekly call option implied volatility is at 46, August is at 36, September and January is at 31; compared to its 26-week average of 34 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on July 30. :theflyonthewall.com 07:11 EDT HLF theflyonthewall.com: Herbalife hires VP's former chief of staff to help fight Ackman, NY Post says Herbalife, which is under continued attack from investor Bill Ackman and being investigated by the FTC, is hiring Alan Hoffman, Vice President Joe Biden’s former chief of staff, to "fight back against Bill Ackman’s multi-front efforts — both here on Capitol Hill, with federal regulators, and now state AGs all across the states,” said The New York Post, citing a Washington insider. Reference Link :theflyonthewall.com 07:10 EDT AAN theflyonthewall.com: Aaron's reports Q2 adjusted EPS 37c, consensus 35c Reports Q2 revenue $672.51M, consensus $672.91M :theflyonthewall.com 07:09 EDT LEA theflyonthewall.com: Lear raises FY14 revenue to $17.6B-$17.9B from $17.2B-$17.7B, consensus $17.54B Core operating earnings are expected to be in the range of $975M-$1.03B. Free cash flow is expected to be in the range of $400M-$450M. Pretax income before restructuring costs and other special items is estimated to be in the range of $910M-$960M. Adjusted net income attributable to Lear is expected to be in the range of $610M-$645M. Pretax operational restructuring costs are expected to be approximately $90M, reflecting plant consolidations in Europe and other census related actions. The outlook for capital spending and depreciation and amortization expense is unchanged at approximately $450M and $310M, respectively. Expects industry vehicle production assumptions of 20.4M units in Europe & Africa, up 2% from the prior outlook, 17M units in North America, up 1% from the prior outlook, and 21.2M units in China, in-line with the prior outlook. :theflyonthewall.com 07:09 EDT WLB theflyonthewall.com: Westmoreland reaffirms FY14 adjusted EBITDA outlook $172M-$190M :theflyonthewall.com 07:08 EDT SQBK theflyonthewall.com: Square 1 Financial reports Q2 EPS 27c, consensus 19c Reports Q2 book value per share $9.91. Reports Q2 Tier 1 capital ratio 15.54%. Reports Q2 net charge-offs 0.25%. Reports Q2 adjusted operating revenue $32.37M, may not compare to consensus $28.64M. :theflyonthewall.com 07:08 EDT WLB theflyonthewall.com: Westmoreland Coal reports Q2 EPS ($4.19), one estimate ($1.15) Reports Q2 revenue $288M, one estimate $217M. :theflyonthewall.com 07:07 EDT LEA theflyonthewall.com: Lear reports Q2 Seating segment saels up 12% to $3.4B Reports Q2 Electrical segment sales up 9% to $1.1B. :theflyonthewall.com 07:06 EDT LEA theflyonthewall.com: Lear reports Q2 adjusted EPS $2.12, consensus $1.97 Reports Q2 revenue $4.59B, consensus $4.44B :theflyonthewall.com 07:06 EDT MCO theflyonthewall.com: Moody's sees FY14 EPS ex-items $3.90-$4.00, consensus $3.98 The company now expects full-year 2014 revenue to grow in the low-double-digit percent range. Full-year 2014 operating expenses are now projected to increase in the high-single-digit percent range. These expenses now include costs related to our acquisitions of a majority stake in ICRA and of WebEquity, as well as additional incentive compensation. Growth in compliance and regulatory expense is still projected to be less than $5 million. Depreciation and amortization expense is still expected to be approximately $100 million. Full-year 2014 operating margin is still projected to be 42 to 43 percent and adjusted operating margin for the year is still expected to be 45 to 46 percent. The effective tax rate is still expected to be approximately 33 percent.Capital expenditures are still projected to be approximately $90M. Free cash flow is still expected to be approximately $900M. Full-year 2014 total share repurchases are still expected to be approximately $1B, subject to available cash, market conditions and other ongoing capital allocation decisions. Certain components of Moody’s 2014 revenue guidance have been modified to reflect the Company’s current view of business conditions. Global MIS revenue for full-year 2014 is now expected to increase in the high-single-digit percent range. Within the U.S., MIS revenue is now expected to increase in the mid-single-digit percent range, while non-U.S. revenue is now expected to increase in the low-teens percent range. Corporate finance revenue is now projected to grow in the low-double-digit percent range. Revenue from structured finance is now expected to grow approximately 10 percent. Financial institutions revenue is now expected to grow in the low-single-digit percent range. Public, project and infrastructure finance revenue is still expected to increase in the high-single-digit percent range. For MA, full-year 2014 revenue is now expected to increase in the mid-teens percent range. Within the U.S., MA revenue is still expected to increase in the low-double-digit percent range. Non-U.S. revenue is still expected to increase in the high-teens percent range. Revenue from research, data and analytics is still projected to grow in the high-single-digit percent range. Including the acquisition of WebEquity, revenue for enterprise risk solutions is now expected to grow in the mid-teens percent range. Professional services revenue, including Amba Investment Services, is now projected to grow approximately 40 percent. :theflyonthewall.com 07:06 EDT IDXX theflyonthewall.com: IDEXX sees FY15 organic revenue growth of 9%-10% Operating margins, excluding previously described transitional impacts in both 2014 and 2015, are expected to be relatively flat next year. :theflyonthewall.com 07:06 EDT CELG theflyonthewall.com: Celgene shares should recover, says Cantor After Celgene delivered beat and raise results but the stock fell, Cantor says that the shares historically tend to outperform after dropping immediately following earnings reports. The firm continues to be upbeat on Celgene's portfolio and EPS and revenue opportunities. It raised its price target on the stock to $98 from $93 and keeps a Buy rating. :theflyonthewall.com 07:06 EDT LPNT theflyonthewall.com: LifePoint Hospitals sees FY14 EPS $2.99-$3.19, consensus $2.71 Sees FY14 net revenue $4.25B-$4.35B, consensus $4.13B. Sees FY14 estimated adjusted EBITDA $605M-$620M. :theflyonthewall.com 07:05 EDT IDXX theflyonthewall.com: IDEXX backs FY14 adjusted EPS $3.79-$3.86, consensus $3.84 Sees FY14 revenue $1.51B-$1.52B, consensus $1.5B; Sees FY14 free cash flow is 95%-100% of net income; Sees FY14 CapEx $80M. :theflyonthewall.com 07:05 EDT STON theflyonthewall.com: StoneMor Partners raises distribution to 61c per unit from 60c per unit StoneMor Partners announced an increase of its cash distribution to 61c per unit from 60c. The distribution is payable on August 14, to common unit holders of record as of the close of business on August 5. :theflyonthewall.com 07:04 EDT REXR theflyonthewall.com: Rexford Industrial acquires Chatsworth Industrial Park for $16.8M Rexford Industrial announced that it has acquired Chatsworth Industrial Park for $16.8M, or $110 per square foot. Funding for the acquisition was provided by availability under the company’s line of credit. The company said, "The buildings are 100% leased to seven tenants and give us an opportunity to professionalize management of the assets and increase rents as leases roll. The property is favorably positioned, offering a mix of quality, location and functionality that we believe makes it highly attractive in the supply-constrained Greater San Fernando Valley." :theflyonthewall.com 07:04 EDT XRX theflyonthewall.com: Xerox sees Q3 adjusted EPS 25c-27c, consensus 26c :theflyonthewall.com 07:04 EDT IDXX theflyonthewall.com: IDEXX says all-direct distribution model to capture $50M-$55M in additional reve The Company estimates that annual operating profit associated with this growing revenue stream will incrcase approximately $5 million to $8 million in 2015, before transitional impacts, with accretive benefits that will scale over time. The company will incur transition costs in implementing the all-direct product distribution approach in the US. For 2014, this will include approximately $8 million in incremental expense as the company ramps up sales and operating resources ahead of the planned January 1, 2015 introduction of the new model. The company also expects to incur approximately $10 million to $12 million in non-recurring expenses in the second half of 2014 associated with project management and other one-time costs required to implement the new model. Combined, the company estimates these transition costs will reduce reported EPS by approximately 23c-24c in 2014. The company estimates that the drawdown of this inventory will occur primarily in the first quarter of 2015 and will result in a one-time reduction in projected revenue and operating profit of $30 million to $35 million, and $23 million to $27 million, respectively. Additionally, the Company expects to incur $2 million to $3 million in remaining project management expenses in early 2015. :theflyonthewall.com 07:04 EDT XRX theflyonthewall.com: Xerox sees FY14 adjusted EPS $1.09-$1.13, consensus $1.10 :theflyonthewall.com 07:04 EDT MHR theflyonthewall.com: Magnum Hunter acquires Ormet Mineral Interest in OH, WV for $22.7M Magnum Hunter announced that it closed on the purchase of approximately 1,700 net mineral acres located in Monroe County, Ohio and Wetzel County, West Virginia for approximately $22.7M from the Ormet Corporation, et al. This acquisition will increase the company's net revenue interest on its existing 875 acre oil and gas lease located on the related acreage from approximately 86% to nearly 100% in the Marcellus Shale formation only. Under the same agreement, the company has also acquired an approximate 100% net revenue interest in the balance of the mineral rights to this acreage which will also include the Utica Shale formation. The company has previously drilled three Marcellus Shale wells on the existing oil and gas lease which have been producing rich natural gas and condensate since May 6. This mineral interest acquisition adds to the company's large drilling inventory of potential Marcellus and Utica Shale wells in these two counties of West Virginia and Ohio. The company is already drilling the vertical section of the first dry gas Utica Shale well on the Ormet 15 Pad. This well is expected to have an approximate lateral length of 4,800 feet with an anticipated 20+ stages of fracture stimulation treatment. The current development plan includes a total of 4 gross Utica Shale wells to be drilled, completed, and producing on this property by year-end 2014. The Eureka Hunter gas gathering system is already constructed and available for throughput once these wells are completed. :theflyonthewall.com 07:03 EDT NNN theflyonthewall.com: National Retail Properties downgraded to Neutral from Buy at Ladenburg Ladenburg downgraded National Retail Properties to Neutral citing valuation following the 26% year-to-date rally. :theflyonthewall.com 07:03 EDT XRX theflyonthewall.com: Xerox reports Q2 adjusted EPS 27c, consensus 26c Reports Q2 revenue $5.3B, consensus $5.31B. :theflyonthewall.com 07:03 EDT LPNT theflyonthewall.com: LifePoint reports Q2 EPS from cont. ops. 84c, may not compare to consensus 55c Reports Q2 revenues from continuing operations $1.05B, consensus $1.01B. :theflyonthewall.com 07:02 EDT IDXX theflyonthewall.com: IDEXX board authorized repurchase of up to an addition 5M shares of common stock :theflyonthewall.com 07:02 EDT MCO theflyonthewall.com: Moody's reports Q2 EPS $1.12 ex-items, consensus $1.02 Reports Q2 revenue $873.5M, consensus $803.35M. :theflyonthewall.com 07:02 EDT IDXX theflyonthewall.com: IDEXX plans to move from hybrid to all-direct product distribution model in 2015 The comapny said, "Under this approach, we intend to take orders, ship product, invoice and receive payment, and recognize revenue for all rapid assay test kits and instrument consumables in the US, aligning with our direct model for instruments, reference lab services, and other CAG products and services... The change to an all-direct product distribution approach will allow a significant expansion in our direct sales coverage and capacity, including an estimated 40% increase in the Veterinary Diagnostic Consultant field sales role and a 60% increase in customer field call frequency. With this increase, we will be much better equipped to support our US veterinary customers' growth in the use of IDEXX diagnostics to provide the best medical care for their patients and clients. The change will result in an incremental annual $50 million to $55 million, or 5%, increase in our fast growing recurring diagnostic revenue, with accretive profit benefits that will scale over time, following the transition to the new model." :theflyonthewall.com 07:01 EDT IDXX theflyonthewall.com: IDEXX reports Q2 EPS $1.10, consensus $1.06 Reports Q2 revenue $390.12M, consensus $385.38M :theflyonthewall.com 07:01 EDT LNN theflyonthewall.com: Lindsay Corp. increases quarterly dividend 4% to 27c per share Lindsay Corporation announced that its Board of Directors has declared a regular quarterly cash dividend of 27c per share, payable August 29, 2014, to shareholders of record on August 15, 2014. This quarterly cash dividend rate represents a 4% increase over the previous quarterly indicated rate of 26c per share. The new annual indicated rate is $1.08 per share, up from the previous annual indicated rate of $1.04 per share. :theflyonthewall.com 07:01 EDT AMZN theflyonthewall.com: Amazon.com results 'generally good,' says Cantor Cantor believes that Amazon enjoyed sustained momentum in North America last quarter. Although AWS price cuts and investments are pressuring Amazon's profits, Cantor thinks the company's investments are justified, given what it sees as improving North America retail trends and large global opportunity. The firm trimmed its price target on the shares to $400 from $425 but keeps a Buy rating. :theflyonthewall.com 07:00 EDT WCG theflyonthewall.com: WellCare downgraded to Market Perform from Outperform at Raymond James :theflyonthewall.com 06:59 EDT BPOP theflyonthewall.com: Popular upgraded at Guggenheim As previously reported, Guggenheim upgraded Popular to Buy from Neutral. The firm upgraded shares based on improving core results, strong financial position and TARP completion. Price target raised to $39 from $37. :theflyonthewall.com 06:59 EDT TWX, FOX, FOXA theflyonthewall.com: Time Warner challenges Murdoch to make offer he can't afford, Bloomberg says Time Warner's (TWX) board of directors is challenging 21st Century Fox (FOX, FOXA) CEO Rupert Murdoch to propose a bid for the firm that he can't pay by saying its own growth strategy is "superior" to any offers that Fox is in a position to make, according to Bloomberg, citing people familiar with the matter. The sources said that Time Warner's language is purposeful since it feels Murdoch would not be in a position to finance an agreement that exceeded $100 per share. Reference Link :theflyonthewall.com 06:59 EDT AEP theflyonthewall.com: American Electric backs FY14 EPS view of $3.35-$3.55, consensus $3.48 In providing operating earnings guidance, there could be differences between operating earnings and GAAP earnings for matters such as, but not limited to, impairments or changes in accounting principles. AEP management is not able to estimate the impact, if any, on GAAP earnings of these items. Therefore, AEP is not able to provide a corresponding GAAP equivalent for earnings guidance. :theflyonthewall.com 06:58 EDT FBR theflyonthewall.com: Fibria Celulose downgraded to Underperform from Neutral at Credit Suisse :theflyonthewall.com 06:57 EDT AEP theflyonthewall.com: American Electric reports Q2 EPS 80c, consensus 75c Reports Q2 revenue $4B, consensus $3.97B. :theflyonthewall.com 06:57 EDT UHS theflyonthewall.com: Universal Health price target raised to $118 from $95 at Credit Suisse Credit Suisse said Universal Health's strong results indicate clear momentum of ACA and improving market conditions. The firm rates shares an Outperform with a new price target of $118, up from $95. :theflyonthewall.com 06:56 EDT LYB theflyonthewall.com: LyondellBasell sees Q3 results negatively impacted by delayed start-up of plant LyondellBasell CEO Jim Gallogly stated, "During the first weeks of Q3, industry conditions have been similar to the Q2 environment. U.S. oil, natural gas, and natural gas liquids production remain strong. Together these support margins in our Olefins and Polyolefins – Americas, Intermediates and Derivatives, and Refining segments. However, our results in the next quarter will be negatively impacted by the delayed start-up of our La Porte ethylene plant." :theflyonthewall.com 06:54 EDT QRE theflyonthewall.com: QR Energy coverage assumed with an Outperform at Credit Suisse Price target raised to $22.50 from $20. :theflyonthewall.com 06:54 EDT BBEP theflyonthewall.com: BreitBurn Energy coverage assumed with a Neutral at Credit Suisse Price target raised to $23 from $21. :theflyonthewall.com 06:53 EDT PTR theflyonthewall.com: PetroChina rethinks natural gas pipeline unit sale, Reuters says PetroChina is rethinking a potential a strategy to sell its multi-billion dollar natural gas pipeline division, and could possibly sell the unit to an affiliate instead, according to Reuters, citing three people who were briefed on the matter by the Chinese firm. Reference Link :theflyonthewall.com 06:53 EDT LYB theflyonthewall.com: LyondellBasell reports Q2 EPS $2.22, consensus $1.92 Reports Q2 revenue $12.12B, consensus $11.43B. :theflyonthewall.com 06:51 EDT SCTY theflyonthewall.com: Goldman expects Q2 upside for SolarCity Goldman expects SolarCity to beat Q2 consensus estimates for 100MW deployments to be at the high-end of guidance. The analyst expects investor focus to be on a new cost roadmap with declines greater than 5-6% previously targeted. The firm rates shares a Conviction Buy with a $92 price target. :theflyonthewall.com 06:50 EDT MCP, REE theflyonthewall.com: China to raise rare earth quotas, China Daily says China will increase its quotas for rare earth production and exploration by 10% this year, a senior official at the country's Ministry of Industry and Information Technology said, according to China Daily. Rare earth miners include Molycorp (MCP) and Rare Element (REE). Reference Link :theflyonthewall.com 06:49 EDT MCD theflyonthewall.com: McDonald's suspends nuggets, other items in Hong Kong, Reuters says McDonald's halted sales of chicken nuggets and other items in Hong Kong after it noted that it imported products from U.S.-owned Chinese firm, Shanghai Husi Food, who is at the core of a food safety scandal in China, according to Reuters, citing statement from the fast-food franchise. The company also noted that it is stopping all chicken product imports in Japan from China and is moving that business to Thailand suppliers. Reference Link :theflyonthewall.com 06:46 EDT PCP theflyonthewall.com: Precision Castparts downgraded to Buy from Conviction Buy at Goldman Goldman removed Precision Castparts from the Conviction Buy List based on weak organic revenue growth and multiple pressure from the rotation to aftermarket from OE. Shares are Buy rated with a $289 price target, down from $317. :theflyonthewall.com 06:45 EDT UBS theflyonthewall.com: UBS blasts French prosecutors over probe, NY Times reports UBS criticized French prosecutors for launching a formal probe of the bank for allegedly helping its French clients avoid taxes, according to The New York Times. The bank also said that the EUR1.1B of bail that France required it to pay was too high, the newspaper stated. UBS said it was ready to go to trial on the charges, the newspaper added. Reference Link :theflyonthewall.com 06:44 EDT MGLN theflyonthewall.com: Magellan Health sees FY14 adjusted EPS $2.67-$3.32, consensus $2.40 Sees FY14 segment profit $238M-$258M; Sees FY14 cash flow from operations $204M-$226M :theflyonthewall.com 06:43 EDT AAPL theflyonthewall.com: Apple $450M e-books agreement terms troubles U.S. judge, Reuters says U.S. District Judge Denise Cote expressed worries regarding a proposed $450M settlement agreement of allegations that Apple colluded with five publishers to manipulate e-book prices, saying its terms could significantly decrease money paid to consumers depending on appeals, according to Reuters, citing comments from Cote. Reference Link :theflyonthewall.com 06:43 EDT MGLN theflyonthewall.com: Magellan Health reports Q2 adjusted EPS 39c, consensus 57c Reports Q2 revenue $888M, consensus $863.06M :theflyonthewall.com 06:42 EDT BIN theflyonthewall.com: Progressive Waste raises quarterly dividend by 6.7% Progressive Waste president and CEO Joseph Quarin stated, We returned $10.9M to shareholders in Q2 through our share repurchase program and we are pleased to announce an increase of 6.7% to our quarterly cash dividend, raising it to C$0.64 per share annually." :theflyonthewall.com 06:40 EDT WCG theflyonthewall.com: WellCare downgraded to Market Perform from Outperform at Wells Fargo :theflyonthewall.com 06:40 EDT CNC theflyonthewall.com: Centene downgraded to Market Perform from Outperform at Wells Fargo :theflyonthewall.com 06:40 EDT HSBC, BCS, ING, CS, UBS, LYG, DB, SAN, RBS theflyonthewall.com: Loan write down standards changed for non-U.S. banks, NY Times says A new accounting rule will enable banks outside of the U.S. to write down the value of loans earlier but could cause loans to become less attractive for those banks, according to The New York Times. The rule was issued by the International Accounting Standards Board, whose guidelines are followed in more than 100 countries but not in America, the newspaper stated. Publicly traded European banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS).Reference Link :theflyonthewall.com 06:39 EDT UFS theflyonthewall.com: Domtar downgraded to Outperform from Top Pick at RBC Capital RBC Capital downgraded Domtar to Outperform form Top Pick following the weaker than expected Q2 report to reflect reduced paper pricing momentum. Price target lowered to $54 from $65. :theflyonthewall.com 06:39 EDT BIN theflyonthewall.com: Progressive Waste reports Q2 adjusted EPS 41c, may not compare to consensus 26c Reports Q2 revenue $513.5M, consensus $511.68M. Reports Q2 reported EPS 36c. :theflyonthewall.com 06:39 EDT GM theflyonthewall.com: Union says GM might give some Brazil employees paid leave, Reuters says An auto workers union said that GM is looking to put 1K of 5.2K employees at a Brazil plant on paid leave amid decreasing output in Latin America's biggest economy, according to Reuters, citing comments from a union leader. Reference Link :theflyonthewall.com 06:38 EDT P theflyonthewall.com: Pandora weakness a buying opportunity, says Piper Jaffray Piper Jaffray believes Pandora reported solid Q2 results, but says the company's guidance is likely to pressure the stock. Piper says Pandora's story is "very much on track" with monetization gains and listenership growth. The firm recommends buying the stock on weakness and keeps an Overweight rating on the name with a $37 price target. :theflyonthewall.com 06:37 EDT B theflyonthewall.com: Barnes Group sees FY14 adjusted EPS $2.23-$2.33, consnesus $2.26 Sees FY14 revenue growth of 15%-17%, consensus $1.26B; Sees FY14 organic revenue growth of 5%-7%; Sees FY14 adjusted operating margin in range of 15%-15.5%; Sees FY14 CapEx $60M :theflyonthewall.com 06:36 EDT B theflyonthewall.com: Barnes Group reports Q2 Industrial sales up 25% to $212.8M Reports Q2 Aerospace sales up 13% to $109.3M :theflyonthewall.com 06:36 EDT AON theflyonthewall.com: Aon plc reports Q2 adjusted EPS $1.25, consensus $1.20 Reports Q2 revenue $2.92B, consensus $2.97B. :theflyonthewall.com 06:35 EDT ORCL, MCRS theflyonthewall.com: EU poised to decide on Oracle, MICROS agreement, Reuters says The European Commission said that European Union antitrust regulators are poised to choose whether to approve Oracle's (ORCL) $5.3B offer for MICROS (MCRS) before August 29, according to Reuters, citing the Commission. Reference Link :theflyonthewall.com 06:35 EDT B theflyonthewall.com: Barnes Group reports Q2 adjusted EPS 59c, consensus 59c Reports Q2 revenue $322.1M, consensus $315.7M :theflyonthewall.com 06:35 EDT BPOP theflyonthewall.com: Popular upgraded to Buy from Neutral at Guggenheim :theflyonthewall.com 06:34 EDT ACAT theflyonthewall.com: Arctic Cat sees FY15 ATV North America sales flat to up 2% Side-by-side North America industry retail sales up 6 percent to 9 percent; North America snowmobile industry retail sales flat to up 3 percent; slightly higher operating expense levels as a percent of sales primarily due to the Canadian currency hedge benefit received during last fiscal year 2014; and increasing cash flow from operations. The company expects gross margins to be down 110 basis points, chiefly due to Canadian currency and, to a lesser extent, product mix and tooling amortization. :theflyonthewall.com 06:34 EDT WBC theflyonthewall.com: WABCO reports Q2 EPS $1.42, consensus $1.45 Reports Q2 revenue $735M, consensus $750.02M. :theflyonthewall.com 06:34 EDT ACAT theflyonthewall.com: Arctic Cat sees FY15 EPS $2.33-$2.43, consensus $2.41 Backs FY15 revenue $775M-$786M, consensus $779.56M :theflyonthewall.com 06:33 EDT ACAT theflyonthewall.com: Arctic Cat reports Q1 ATVs/Side-by-sides sales down 16% to $63.8M Reports Q1 Snowmobile sales up 149% to $56.2M; Reports Q1 Parts, Garments & Accessories sales up 8% to $23.7M :theflyonthewall.com 06:32 EDT DECK theflyonthewall.com: Deckers Outdoor price target raised to $105 from $94 at Citigroup Citigroup raised its price target for Deckers Outdoor shares to $105 citing the better than expected Q1 results and guidance increase. Citi views the stock's valuation as attractive and keeps a Buy rating on the stock. :theflyonthewall.com 06:32 EDT ACAT theflyonthewall.com: Arctic Cat reports Q1 adjusted EPS 35c, consensus 32c Reports Q1 revenue $143.64M, consensus $132.84M :theflyonthewall.com 06:31 EDT MCD theflyonthewall.com: Russian watchdog looks to bar certain McDonald's products, Reuters says Russia's consumer protection agency Rospotrebnadzor filed a lawsuit in a Moscow court which looks to bar some of McDonald's burgers, milk shakes and ice cream, according to Reuters, citing a court spokeswoman. The fast-food chain said in a statement that it had not received any objections from the watchdog and had no data regarding the case. Reference Link :theflyonthewall.com 06:31 EDT AMZN theflyonthewall.com: Amazon.com price target lowered to $358 from $395 at Citigroup Citigroup lowered its price target for Amazon.com shares to $358 saying the company's Q3 margin outlook surprised to the downside. Citi believes Amazon's increased investments will make it hard to the stock to outperform. It keeps a Neutral rating on Amazon. :theflyonthewall.com 06:30 EDT MYL, ABT, MDT, COV, VRX theflyonthewall.com: Obama calls on Congress to end inversion deals, NY Times reports President Obama yesterday called on Congress to eliminate tax inversion loopholes, and criticized companies that have taken advantage of the loopholes, according to The New York Times. Meanwhile, there is a "growing consensus" among lawmakers of both parties that inversions should be curtailed, although the parties disagree on how to do so, the newspaper stated. Among the deals or possible transactions that involve inversion are Mylan's (MYL) acquisition of Abbott (ABT), Medtronic's (MDT) acquisition of Covidien (COV) and Valeant's (VRX) proposed takeover of Alletgan (AGN). Reference Link :theflyonthewall.com 06:29 EDT KLAC theflyonthewall.com: KLA-Tencor pullback a buying opportunity, says Citigroup Citigroup views the post-earnings pullback in shares of KLA-Tencor as a buying opportunity. Citi believes the weaker than expected September quarter outlook is not indicative of the company's long-term earnings power. It raised its price target for shares to $85 from $82 and keeps a Buy rating on the stock. :theflyonthewall.com 06:24 EDT GM theflyonthewall.com: General Motors downgraded to Hold from Buy at Deutsche Bank Deutsche Bank downgraded General Motors to Hold with a $41 price target citing slowing momentum following the company's Q2 results. :theflyonthewall.com 06:22 EDT DHI theflyonthewall.com: D.R. Horton downgraded to Neutral from Buy at MKM Partners :theflyonthewall.com 06:22 EDT QCOR theflyonthewall.com: Questcor downgraded to Perform from Outperform at Oppenheimer :theflyonthewall.com 06:21 EDT VRSN theflyonthewall.com: VeriSign upgraded to Neutral from Sell at Citigroup Citigroup upgraded VeriSign to Neutral following the company's Q2 results saying fundamentals have likely bottomed. Citi raised its price target for shares to $50 from $48. :theflyonthewall.com 06:20 EDT CHA, MSFT theflyonthewall.com: China Telecom to start selling Microsoft's Xbox One in September, WSJ reports China Telecom (CHA) will start selling Microsoft’s (MSFT) Xbox One video game console in China in September, the Wall Street Journal reports. China Telecom will be the exclusive carrier for the XBox One in China. Reference Link :theflyonthewall.com 06:20 EDT INNL theflyonthewall.com: Innocoll 6.35M share IPO priced at $9.00 The deal priced below the $13.00-$15.00 range and was increased in size to 6.5M shares from 5.35M shares. Piper Jaffray and Stifel acted as joint book running managers for the offering. :theflyonthewall.com 06:20 EDT VRSN theflyonthewall.com: VeriSign sees 2014 revenue $1.003B-$1.012B vs. previous $1.0B-$1.015B Consensus $1.01B. VeriSign still sees 2014 non-GAAP gross margin at least 80%. Guidance issued last night in earnings call presentation slides. :theflyonthewall.com 06:19 EDT BNPQY theflyonthewall.com: USDA announces $80M False Claims Act judgement entered against BNP The Department of Justice announced today that an $80M False Claims Act judgment was entered against BNP Paribas for submitting false claims for payment guarantees issued by the U.S. Department of Agriculture. The judgment entered by the court resolves the government’s allegations that, from 1998 to 2005, BNP Paribas participated in a sustained scheme to defraud the SCG Program. The resolution of this matter was the result of a coordinated effort among the Commercial Litigation Branch of the Justice Department’s Civil Division, the USDA, the USDA Office of Inspector General, the U.S. Postal Inspection Service and the Internal Revenue Service Criminal Investigation. Reference Link :theflyonthewall.com 06:18 EDT LPT theflyonthewall.com: Liberty Property downgraded to Perform from Outperform at Oppenheimer Oppenheimer downgraded Liberty Property following the disappointing Q2 report and lowered guidance. :theflyonthewall.com 06:17 EDT INTC theflyonthewall.com: Intel to launch Core M for use in notebook/tablet models in Q4, DigiTimes says Intel plans to launch 14nm-based Core M series processors for use in fanless notebook/tablet 2-in-1 models in Q4, reports DigiTimes. According to supply chain makers, Intel will release five processors under Core M series. Reference Link :theflyonthewall.com 06:17 EDT BCOV theflyonthewall.com: Brightcove downgraded to Sector Perform from Outperform at RBC Capital RBC Capital downgraded Brightcove following the Q2 report citing disappointing guidance. Note this is the third downgrade of the day. :theflyonthewall.com 06:16 EDT TSM theflyonthewall.com: TSMC to offer more wafer starts ot MediaTek in Q3, DigiTimes reports TSMC (TSM) will supply MediaTek 10% more wafer starts than what the chipset maker expected to receive in Q3, reports DigiTimes. According to industry sources, the offering of more 28nm production capacity to MediaTek is an important strategy for the Taiwan-based foundry house. Reference Link :theflyonthewall.com 06:16 EDT AU theflyonthewall.com: AngloGold provides corporate, Rand Refinery update AngloGold stated, shareholders are referred to today's announcement by Rand Refinery regarding a loan facility extended to it by certain of its shareholders, as a precautionary measure. This follows challenges encountered in the implementation of a new Enterprise Resource Planning system at the refinery. AngloGold Ashanti confirms its participation in the loan facility. AngloGold Ashanti owns a 42.41% stake in the Rand Refinery and accounts for it using the equity accounting method as an associate. AngloGold Ashanti expects to make a provision in its accounts for $51M, which will impact second quarter earnings scheduled for release on August 11. In addition, AngloGold Ashanti notes that costs incurred in the previously announced closure of the Yatela mine in Mali, and ongoing restructuring at its Obuasi mine in Ghana, will also impact earnings for Q2. Over the past 18 months, AngloGold Ashanti has taken decisive steps to adapt to the sharp decline in the gold price by reducing costs and improving the overall quality of its portfolio to improve cash flow and returns. Part of that strategy is the closure of its Yatela mine in Mali and implementation of a range of interventions to address historic underperformance of the Obuasi mine in Ghana. :theflyonthewall.com 06:14 EDT BSYBY, FOX, FOXA theflyonthewall.com: BSkyB to buy Sky Italia, 57.4% stake in Sky Deutschland from 21st Century Fox BSkyB (BSYBY) announces it has entered into agreements with 21st Century Fox (FOXA) to acquire 21st Century Fox’s 100% stake in Sky Italia and its 57.4% interest in Sky Deutschland. The enlarged company will be a world-class multinational pay TV provider that serves 20 million customers and brings together the leading pay TV businesses in three of Europe’s four biggest markets. The total consideration for the acquisition of Sky Italia is GBP2.45B with approximately GBP2.07B to be paid in cash and the balance to be satisfied through the transfer of BSkyB's 21% stake in National Geographic Channel International to 21st Century Fox at a value of GBP382M . The acquisition of 21st Century Fox’s shareholding in Sky Deutschland is for a consideration of GBP2.9B in cash, valuing Sky Deutschland at EUR6.75 per share. The transactions are subject to regulatory and independent shareholder approval. BSkyB expects to be able to realize GBP200M of run-rate cash synergies by the end of the second full financial year after completion, with further additional synergies expected in subsequent periods. Management's current estimate is that the costs to achieve these synergies will be around GBP150M. :theflyonthewall.com 06:14 EDT GIL theflyonthewall.com: Gildan Activewear upgraded to Outperform from Sector Perform at RBC Capital :theflyonthewall.com 06:14 EDT BBEP theflyonthewall.com: BreitBurn Energy downgraded to Market Perform from Outperform at Raymond James BreitBurn Energy (BBEP) is acquiring QR Energy (QRE) in a $3B deal. :theflyonthewall.com 06:13 EDT NTGR theflyonthewall.com: Netgear downgraded to Market Perform from Outperform at Raymond James Raymond James downgraded Netgear to Market Perform following the Q2 report and disappointing guidance. :theflyonthewall.com 06:11 EDT QRE theflyonthewall.com: QR Energy downgraded to Market Perform from Outperform at Raymond James QR Energy (QRE) is being acquired by with Breitburn Energy (BBEP). :theflyonthewall.com 06:11 EDT MYL theflyonthewall.com: Mylan downgraded to Neutral from Buy at Citigroup Citigroup downgraded Mylan to Neutral citing a lack of near-term catalysts ahead of the tax inversion deal closing. Citi lowered its price target for shares to $57 from $61. :theflyonthewall.com 06:10 EDT PB theflyonthewall.com: Prosperity Bancshares reports Q2 EPS $1.08, consensus $1.03 Reports Q2 book value per share $44.74. Reports Q2 risk based capital ratio 12.5%. Reports Q2 net charge-offs 0.01%. :theflyonthewall.com 06:09 EDT PTEN theflyonthewall.com: Patterson-UTI Energy upgraded to Outperform at Raymond James Raymond James upgraded Patterson-UTI Energy to Outperform to Market Perform following the Q2 beat and guidance. :theflyonthewall.com 06:09 EDT SLAB theflyonthewall.com: Silicon Laboratories reports Q2 broad-based revenue up 10% to $79.7M Reports Q2 broadcast revenue $50.5M; Reports Q2 access revenue $24.7M. :theflyonthewall.com 06:09 EDT SLAB theflyonthewall.com: Silicon Laboratories sees Q3 adjusted EPS 45c-51c, consensus 54c Sees Q3 revenue $153M-$157M, consensus $156.76M. :theflyonthewall.com 06:08 EDT SLAB theflyonthewall.com: Silicon Laboratories reports Q2 adjusted EPS 58c, consensus 46c Reports Q2 revenue $154.92M, consensus $149.02M :theflyonthewall.com 06:08 EDT SODA theflyonthewall.com: SodaStream July domestic sell-through trends decelerating says Longbow Longbow's July survey results for SodaStream (SODA) were negative including flattish Wal-Mart (WMT) results. The firm said pricing trends have been stable since May but are down year-over-year. The analyst maintains its Neutral rating and is concerned deep discount Mega packs and other promotions will pressure profitability. :theflyonthewall.com 06:07 EDT OFC theflyonthewall.com: Corporate Office Properties signs 10-year lease at Redstone Gateway Corporate Office Properties has executed a 10-year lease with a major defense contractor for 131,600 square feet at its Redstone Gateway project in Huntsville, AL. The strategic tenant has leased 7200 Redstone Gateway, an existing 62,400 square foot flex building that will be connected to a new 69,200 square foot building, 7400 Redstone Gateway. The company will begin construction immediately on 7400 Redstone Gateway and expects the lease to commence during the third quarter of 2015. As a result of this transaction, Redstone Gateway will consist of five office buildings containing approximately 500,000 square feet that are 100% leased. :theflyonthewall.com 06:07 EDT COG theflyonthewall.com: Cabot Oil & Gas downgraded to Neutral from Outperform at RW Baird RW Baird downgraded Cabot Oil & Gas to Neutral following the company's Q2 results saying realizations is likely to limit near-term upside. The firm has a $43 price target for shares. :theflyonthewall.com 06:07 EDT VVI theflyonthewall.com: Viad sees FY14 revenue up at high single to low double digit rate Revenue is expected to increase at a high single to low double-digit rate from $844.9M in 2013, consensus $1.03B. Base same-show revenue is expected to increase at a low to mid single-digit rate in the U.S. Base same shows are defined as shows that take place in the same city during the same quarter each year. :theflyonthewall.com 06:07 EDT OFC theflyonthewall.com: Corporate Office Properties narrows FY14 adjusted FFO to $1.86-$1.90 The previous guidance range was $1.85-$1.92. Sees Q3 adjusted FFO 46c-48c; Sees Q4 adjusted FFO 48c-50c. :theflyonthewall.com 06:06 EDT OFC theflyonthewall.com: Corporate Office Properties reports Q2 EPS 2c, one estimate 16c Reports Q2 FFO 37c; Reports Q2 adjusted FFO 44c. :theflyonthewall.com 06:06 EDT P theflyonthewall.com: Pandora weakness a buying opportunity, says JPMorgan JPMorgan recommends buying shares of Pandora on weakness following the company's Q2 results. The firm expects stronger execution in the second half of 2014 and raised its price target for the stock to $42 from $41 while keeping an Overweight rating on Pandora. :theflyonthewall.com 06:05 EDT FOX, FOXA theflyonthewall.com: Fox promises to continue share buyback program 21st Century Fox said that for FY15, it promises to continue its share buyback program and will communicate the details of a renewed share buyback authorization upon the announcement of FY14 earnings results on August 6. 21st Century Fox CEO Rupert Murdoch said, "Our renewed authorization for our share buyback program will be executed regardless of any potential acquisition or investment activity by the Company. 21st Century Fox’s number one priority is increasing shareholder value in a disciplined manner and, as a result, we will only consider transactions that fully support this objective.” Reference Link :theflyonthewall.com 06:05 EDT COV theflyonthewall.com: Covidien reports Q3 Surgical Solutions sales up 8% to $1.31B Reports Q3 Vascular Therapies sales flat to $417M; Reports Q3 Respiratory and Patient Care sales up 2% to $966M. :theflyonthewall.com 06:04 EDT VVI theflyonthewall.com: Viad reports Q2 EPS ex-items 44c, consensus 37c Reports Q2 revenue $256.4M, consensus $245.99M. :theflyonthewall.com 06:03 EDT COV theflyonthewall.com: Covidien reports Q3 adjusted EPS $1.04, consensus $1.00 Reports Q3 revenue $2.69B, consensus $2.69B :theflyonthewall.com 06:03 EDT LYG theflyonthewall.com: Lloyds confirms late stage settlement discussions with agencies Lloyds Banking Group notes the recent media coverage regarding potential settlements with a number of government agencies and their investigations into submissions, communications and procedures around the setting of Interbank Offered Rates and other benchmarks. LBG confirms that it is in late-stage settlement discussions with a number of agencies. The settlements remain to be agreed and LBG expects they will include the payment of penalties. LBG will update the market on these issues as appropriate. :theflyonthewall.com 06:03 EDT SWK theflyonthewall.com: Stanley Black & Decker raises FY14 adjusted EPS to $5.50-$5.60 from $5.35-$5.50 FY14 EPS consensus of $5.43. The company said, "We anticipate a stronger full year financial performance within certain of our businesses, most notably the Industrial segment, and further Company-wide cost savings to more than offset slightly lower full year organic sales growth due to the weather impact on the CDIY outdoor product season and slower underlying emerging markets growth. This revised guidance is consistent with our EPS profile in recent years whereby approximately 45% of annual EPS typically falls within the first half of the year. We have strong conviction that our 2014 free cash flow will be at least $675 million inclusive of approximately $250 million of one-time payments primarily relating to 2013 restructuring actions... We also remain committed to our capital allocation plan of returning up to $1 billion of capital to shareholders through 2015 as well as a strong and growing dividend. Taken together, these actions along with modest debt deleveraging are expected to increase our cash flow return on investment by 250 basis points through 2015.” :theflyonthewall.com 06:03 EDT AMZN theflyonthewall.com: Amazon.com price target lowered to $340 from $350 at JPMorgan JPMorgan lowered its price target for Amazon.com shares to $340 following the company's Q2 results and keeps a Neutral rating on the stock. JPMorgan expects shares to trade down in the near-term given the company's investments in AWS prices and international expansion. :theflyonthewall.com 06:02 EDT TYC theflyonthewall.com: Tyco reports Q3 EPS ex-items 54c, consensus 54c Reports Q3 revenue $2.66B, consensus $2.65B. :theflyonthewall.com 06:02 EDT GM theflyonthewall.com: GM says 45 state AGs investigating ignition recalls General Motors said in a filing that it is the subject of various inquiries, investigations, subpoenas and requests for information from "the U.S. Attorney’s Office for the Southern District of New York, Congress, the SEC, Transport Canada and 45 state attorney generals in connection with our recent recalls. We are investigating these matters internally and believe we are cooperating fully with all requests. Such investigations could in the future result in the imposition of material damages, fines or civil and criminal penalties." :theflyonthewall.com 06:01 EDT MXIM theflyonthewall.com: Maxim Integrated downgraded to Neutral from Buy at MKM Partners :theflyonthewall.com 06:01 EDT SWK theflyonthewall.com: Stanley Black & Decker reports Q2 adjusted EPS $1.43, consensus $1.37 Reports Q2 revenue $2.89B, consensus $2.94B :theflyonthewall.com 06:01 EDT CCI theflyonthewall.com: Crown Castle downgraded to Sector Perform from Outperform at Pacific Crest Pacific Crest downgraded Crown Castle to Sector Perform citing lower than peer revenue growth following the company's Q2 results. :theflyonthewall.com 06:00 EDT BMY theflyonthewall.com: Bristol-Myers implied volatility of 17 at lower end of index mean range :theflyonthewall.com 06:00 EDT INFA theflyonthewall.com: Informatica downgraded to Neutral from Outperform at Credit Suisse Credit Suisse downgraded Informatica to Neutral citing the Q2 miss and lowered guidance. Price target lowered to $37 from $52. Note that Baird also downgraded shares this morning. :theflyonthewall.com 06:00 EDT AMAT theflyonthewall.com: Applied Materials implied volatility of 37 at upper end of index mean range :theflyonthewall.com 05:59 EDT BCOV theflyonthewall.com: Brightcove downgraded to Sector Perform from Outperform at Pacific Crest Pacific Crest downgraded Brightcove to Sector Perform citing near-term headwinds after the company issued "disappointing" guidance. Shares were also downgraded this morning at B. Riley. :theflyonthewall.com 05:59 EDT INTC, WMB theflyonthewall.com: Stocks with implied volatility below IV index mean; INTC WMB Stocks with implied volatility below IV index mean; Intel (INTC) 17, Williams (WMB) 22 according to iVolatility. :theflyonthewall.com 05:58 EDT INFA theflyonthewall.com: Informatica downgraded to Neutral from Outperform at RW Baird RW Baird downgraded Informatica to Neutral citing the company's lowered outlook for 2014. The firm dropped its price target for shares to $36 from $45. :theflyonthewall.com 05:57 EDT BCOV theflyonthewall.com: Brightcove downgraded to Neutral from Buy at B. Riley B. Riley downgraded Brightcove to Neutral following the Q2 report and guidance. Price target is $7.50. :theflyonthewall.com 05:57 EDT XLNX, IGT theflyonthewall.com: Stocks with implied volatility below IV index mean; XLNX IGT Stocks with implied volatility below IV index mean; Xilinx International (XLNX) 21, International Game (IGT) 14 according to iVolatility. :theflyonthewall.com 05:56 EDT MSFT theflyonthewall.com: Yammer's David Sacks leaving Microsoft Yammer's David Sacks announced in a tweet that he will be leaving Microsoft after two years. Sacks is the founder and former CEO of Yammer, which was acquired by Microsoft in June 2012. Reference Link :theflyonthewall.com 05:56 EDT AMZN theflyonthewall.com: Amazon.com price target lowered to $375 from $400 at Deutsche Bank Deutsche Bank lowered its price target for Amazon.com shares to $375 following the company's Q2 results but maintains a Buy rating on the stock. :theflyonthewall.com 05:56 EDT AMZN theflyonthewall.com: Amazon.com downgraded to Neutral from Buy at B. Riley Price target is $350. :theflyonthewall.com 05:56 EDT theflyonthewall.com: On The Fly: Morning Wrap-Up for July 25 Globex S&P futures are recently down 2.40 from previous day’s SPX cash close. Nikkei 225 up 1.13%, DAX down 0.30%. WTI Crude oil is recently at $102.07, natural gas up 0.27%, gold at $1294 an ounce, and copper up 0.11%. :theflyonthewall.com 05:55 EDT GOOG theflyonthewall.com: Google to buy Twitch for $1B, VentureBeat reports Google will acquire Twitch, a game livestreaming company, for around $1B, sources confirm to VentureBeat. It is unclear when the deal will be announced or what the exactly purchase price will be, but the sources say YouTube is heading the purchase. Reference Link :theflyonthewall.com 05:54 EDT VXX theflyonthewall.com: iPath S&P 500 VIX Short-Term Futures at 28.39, 50-day moving average is 30.66 :theflyonthewall.com 05:54 EDT GLD theflyonthewall.com: SPDR Gold Trust overall implied volatility at 14; 26-week average is 15 :theflyonthewall.com 05:53 EDT SLV theflyonthewall.com: iShares Silver Trust overall implied volatility at 22; 26-week average is 24 :theflyonthewall.com 05:53 EDT SBUX theflyonthewall.com: Starbucks price target raised to $88 from $84 at Jefferies Jefferies raised its price target for Starbucks shares to $88 citing strong core business momentum following the company's Q3 results. The firm keeps a Buy rating on the stock. :theflyonthewall.com 05:52 EDT OCUL theflyonthewall.com: Ocular Therapeutix 5M share IPO priced at $13.00 The deal priced below the $14.00-$16.00 range. Morgan Stanley, Cowen and RBC Capital acted as joint book running managers for the offering. :theflyonthewall.com 05:51 EDT MNKD, IGT theflyonthewall.com: Stocks with implied volatility movement; MNKD IGT Stocks with implied volatility movement; MannKind (MNKD) 97, International Game (IGT) 14 according to iVolatility. :theflyonthewall.com 05:51 EDT UA theflyonthewall.com: Under Armour price target raised to $80 from $65 at Jefferies Jefferies raised its price target for Under Armour shares to $80 citing the company's better than expected Q2 results and "superior growth potential." The firm reiterates a Buy rating on the stock. :theflyonthewall.com 05:50 EDT WMS theflyonthewall.com: Advanced Drainage Systems 14.5M share IPO priced at $16.00 The deal priced below the $17.00-$19.00 range. Barclays, Deutsche Bank, Citigroup and RBC Capital acted as joint book running managers for the offering. :theflyonthewall.com 05:49 EDT REXMY theflyonthewall.com: Rexam downgraded to Hold from Buy at Jefferies :theflyonthewall.com 05:49 EDT SODA, END theflyonthewall.com: Stocks with implied volatility movement; SODA END Stocks with implied volatility movement; SodaStream (SODA) 77, Endeavour (END) 141 according to iVolatility. :theflyonthewall.com 05:49 EDT NTRS theflyonthewall.com: Northern Trust upgraded to Neutral from Underweight at JPMorgan JPMorgan upgraded Northern Trust to Neutral following the company's Q2 results citing an improved earnings outlook. The firm raised its price target for shares to $67 from $59.50. :theflyonthewall.com 05:47 EDT LOGI theflyonthewall.com: Logitech upgraded to Neutral from Underweight at JPMorgan JPMorgan upgraded Logitech to Neutral citing the company's solid Q1 results and execution. The firm raised its price target for shares to $15 from $13.50. :theflyonthewall.com 05:47 EDT XLF theflyonthewall.com: Financial Select Sector overall volatility at 13, 26-week average is 16 :theflyonthewall.com 05:47 EDT IPG theflyonthewall.com: Interpublic Group downgraded to Neutral from Overweight at Atlantic Equities Atlantic Equities downgraded Interpublic Group due to valuation. :theflyonthewall.com 05:46 EDT theflyonthewall.com: August front month equity options last day to trade August 15, 2014 :theflyonthewall.com 05:46 EDT DECK theflyonthewall.com: Deckers Outdoor upgraded to Buy from Hold at Jefferies Jefferies upgraded Deckers Outdoor to Buy following the company's Q1 results citing greater conviction in margin expansion potential and new product launches. The firm views the risk/reward on shares as compelling and raised its price target for the stock to $130 from $78. Shares of Deckers rallied 6% to $90.00 following the company's earnings report. :theflyonthewall.com 05:43 EDT AMZN theflyonthewall.com: Amazon.com downgraded to Fair Value from Buy at CRT Capital :theflyonthewall.com 05:43 EDT PBR theflyonthewall.com: Petrobras upgraded to Overweight from Equal Weight at Barclays Barclays upgraded Petrobras to Overweight on expectations the Brazilian presidential elections in October will drive positive share momentum. The firm raised its price target for shares to $22 from $20. :theflyonthewall.com 05:41 EDT XOM theflyonthewall.com: Exxon Mobil downgraded to Underweight from Equal Weight at Barclays Barclays downgraded its rating on Exxon Mobil (XOM) shares to Underweight from Neutral citing a lack of near-term production growth and the high oil price environment. The firm sees limited upside in shares, but did raise its price target to $105 from $100. Shares of the oil giant closed yesterday up 3c to $104.28. :theflyonthewall.com 05:39 EDT FOX, FOXA theflyonthewall.com: 21st Century Fox to combine EU satellite television holdings, will receive $9.3B 21st Century Fox (FOXA, FOX) announced that it will transfer Sky Italia and its 57.4% interest in Sky Deutschland to BSkyB to create a pan-European digital television leader through the combination of these assets. In exchange for the transfer, 21st Century Fox will receive approximately $9.3B in value from BSkyB comprised of approximately $8.6B in cash and BSkyB’s 21% interest in National Geographic Channels International, raising 21st Century Fox’s ownership stake to 73%. In addition, 21st Century Fox will participate in BSkyB’s announced equity offering by purchasing approximately $900M of additional shares in BSkyB to maintain the Company’s 39.1% ownership interest. The net, after-tax cash proceeds to be received by 21st Century Fox upon completion of all the elements of this transaction will approximate $7.2B. The agreement is subject to regulatory approvals, the approval of BSkyB stockholders and customary closing conditions. :theflyonthewall.com 05:39 EDT CVE theflyonthewall.com: Cenovus Energy downgraded to Equal Weight from Overweight at Barclays Barclays downgraded Cenovus Energy to Equal Weight citing operating issues at Foster Creek and Pelican Lake. The firm lowered its price target for shares to C$38 from C$39. :theflyonthewall.com 05:37 EDT FOX, FOXA theflyonthewall.com: 21st Century Fox to combine EU satellite television holdings, will receive $9.3B :theflyonthewall.com 05:36 EDT PQ theflyonthewall.com: PetroQuest initiated with an In-Line at Imperial Capital Target $8. :theflyonthewall.com 05:36 EDT OPHT theflyonthewall.com: Ophthotech initiated with a Neutral at Goldman Target $44. :theflyonthewall.com 05:35 EDT BAYRY, AMGN theflyonthewall.com: Bayer, Onyx reports NEXAVAR Phase 3 trial did not meet primary endpoint Bayer HealthCare (BAYRY) and Onyx Pharmaceuticals, an Amgen subsidiary (AMGN), announced that an investigational Phase 3 trial of NEXAVAR tablets in patients with advanced breast cancer did not meet its primary endpoint of improving progression-free survival. The study, called RESILIENCE, evaluated the efficacy and safety of sorafenib in combination with capecitabine, an oral chemotherapeutic agent, compared to placebo plus capecitabine, in patients with HER2-negative breast cancer who are resistant to or have failed prior taxane therapy, and resistant to or failed anthracycline or for whom further anthracycline therapy is not indicated. Based on initial review of the data, the types of adverse events observed were generally comparable with those known for either sorafenib or capecitabine. Data from this study are expected to be presented at an upcoming scientific congress. :theflyonthewall.com 05:35 EDT HOT theflyonthewall.com: Starwood downgraded to Market Perform from Outperform at Wells Fargo Wells Fargo downgraded Starwood Hotels to Market Perform saying the CEO's capital allocation strategy is disappointing. The firm keeps an $81-$83 price target range for shares. :theflyonthewall.com 05:31 EDT STO theflyonthewall.com: Statoil CEO says cost reduction programs 'are on track' Helge Lund, Statoil's president and CEO stated, "We continue progressing our programs to reduce cost and improve capital efficiency. In the quarter, we have announced a potential to reduce between 1100 and 1400 positions. Reductions of around 1000 positions in our staffs and support services are already implemented. We have also established six specific high-impact projects addressing technical efficiency across the company, and we are now executing the first wave. We are on track, and will provide an updated status when we report our results for the full year." :theflyonthewall.com 05:31 EDT KGFHY theflyonthewall.com: Kingfisher downgraded to Neutral from Buy at Citigroup :theflyonthewall.com 05:28 EDT STO theflyonthewall.com: Statoil reports Q2 EPS NOK 3.75 vs. NOK 1.38 last year Reports Q2 operating income down NOK 3.2B to NOK 32B. Reports adjusted earnings NOK 32B. Helge Lund, Statoil's president and CEO stated, "Statoil delivered solid operational performance in the quarter, with continued high production regularity on the Norwegian continental shelf and project execution according to plan. We have deferred gas production to enhance value, but remain on track for delivering on our production guiding for 2014. Our quarterly earnings were impacted by divestments, seasonal effects and lower gas prices. For the first half of the year, earnings were around the same level as in the same period last year." :theflyonthewall.com 05:24 EDT ACRX theflyonthewall.com: AcelRx confirms July 27 PDUFA date for Zalviso AcelRx Pharmaceuticals confirmed the PDUFA date for Zalviso remains July 27. The company recently learned that a rumor circulated online stating the FDA had approved Zalviso. As of July 24 there has been no notification to the company from the FDA regarding the status of the Zalviso New Drug Application. :theflyonthewall.com 05:20 EDT ETN theflyonthewall.com: Eaton, Shaanxi Fast Gear announce JV agreement Eaton and Shaanxi Fast Gear announced they have signed a joint venture agreement to support the growing commercial vehicle clutch market in China. The formation of the joint venture is subject to regulatory approvals and customary closing conditions. Terms were not disclosed. The planned joint venture will focus on developing, manufacturing, assembling, testing, selling and servicing clutches and associated clutch components for the commercial vehicle market in China. :theflyonthewall.com 05:16 EDT TRIP theflyonthewall.com: TripAdvisor to acquire Viator for about $200M TripAdvisor announced it has entered into an agreement to acquire Viator. Viator features more than 20,000 bookable tours and attractions and more than 600,000 reviews, photos, and videos submitted by travelers. Viator has more than 250 employees who will continue to work at the company's headquarters in San Francisco and offices in Las Vegas, London and Sydney. The acquisition is expected to close during Q3. Upon closing, Viator will be the fourth acquisition in 2014, following lafourchette, Tripbod, and Vacation Home Rentals. The purchase price for the transaction is approximately $200M, subject to adjustment, and will be payable substantially in the form of cash. :theflyonthewall.com 05:14 EDT MBFI, TAYC theflyonthewall.com: MB Financial receives OCC approval for pending merger MB Financial (MBFI), announced today that the Office of the Comptroller of the Currency, or OCC, has approved the merger of Cole Taylor Bank, the bank subsidiary of Taylor Capital Group (TAYC), with MB Financial, Inc.’s bank subsidiary, MB Financial Bank, N.A. As previously announced, the Board of Governors of the Federal Reserve System on June 30, approved the merger of Taylor Capital with MB Financial. The transaction is expected to be completed on or about August 18. :theflyonthewall.com 05:11 EDT PARN theflyonthewall.com: Parnell acquires license, rights for two compounds from CIMTECH Pty Parnell Pharmaceuticals announces the successful licensing of two compounds that will be added to Parnell's already extensive pipeline through a license agreement with Australian-based CIMTECH Pty, a biotechnology company. The compounds now known as PAR 121 and PAR 122 have shown promise in bone regeneration and dermal regeneration, respectively. Parnell has received a license to develop the compounds for the veterinary market with the potential to also seek human drug approvals. Parnell will pay $100,000 as an upfront payment to CIMTECH and up to a further $1.9M in milestone payments plus a single digit royalty on all Net Revenues received by Parnell from all drug sales. :theflyonthewall.com 05:06 EDT GIFI theflyonthewall.com: Gulf Island Fabrication announces cooperative agreement with Bechtel Gulf Island Fabrication announced that, they have signed a cooperative agreement with Bechtel Oil, Gas, and Chemicals to work together to pursue opportunities for offshore projects for the U.S. Gulf of Mexico and abroad. Gulf Island’s fabrication experience, infrastructure, and skilled labor along with Bechtel’s unmatched engineering, project management, and direct-hire construction capabilities, provides customers a strong EPC provider. The cooperation agreement is predicated on one governing principle – to deliver to our customers, high quality EPC solutions on time and on budget. Gulf Island and Bechtel will use this model to deliver fixed, floating, and subsea facilities to the market. :theflyonthewall.com 04:55 EDT theflyonthewall.com: Macquarie to hold a tour Taiwan Aerospace & Industrial Tour travels throughout Taipei, Taiwan on July 23-25. :theflyonthewall.com 04:55 EDT theflyonthewall.com: Sprott Asset Management to hold a symposium Sprott Vancouver Natural Resources Symposium to be held in Vancouver, Canada on July 22-25. :theflyonthewall.com 04:55 EDT NVS theflyonthewall.com: Novartis management to meet with JPMorgan Meetings to be held in Los Angeles/Pasadena on July 24 and in San Francisco on July 25 hosted by JPMorgan. :theflyonthewall.com 04:55 EDT VAR, WTKWY, ARAY, BAYRY, EKTAY, ISR theflyonthewall.com: American Association of Physicists in Medicine to hold annual meeting 56th Annual Meeting of AAPM to be held in Austin, Texas on July 20-25. :theflyonthewall.com 04:55 EDT TGTX theflyonthewall.com: University of Nebraska Medical Center to hold a conference 2014 Pan Pacific Lymphoma Conference to be held in Kohala Coast, Hawaii on July 21-25. :theflyonthewall.com 04:55 EDT theflyonthewall.com: Durable Goods Orders Ex-transportation to be reported at 08:30 June Durable Goods Orders Ex-transportation will be reported at 08:30 . Current consensus is 0.7% for the month :theflyonthewall.com 04:55 EDT VTL theflyonthewall.com: Vital Therapies management to meet with Jefferies Meetings to be held in Europe on July 23-25 hosted by Jefferies. :theflyonthewall.com 04:55 EDT theflyonthewall.com: Durable Goods Orders to be reported at 08:30 June Durable Goods Orders will be reported at 08:30 . Current consensus is 0.5% for the month :theflyonthewall.com July 24, 2014 20:25 EDT COV, LYB, AON, AEP, TYC, MCO, XRX, DTE, AAN, B theflyonthewall.com: Notable companies reporting before tomorrow's open Notable companies reporting before tomorrow's market open, with earnings consensus, include Covidien (COV), consensus $1.00; LyondellBasell (LYB), consensus $1.92; Aon (AON), consensus $1.20; American Electric Power (AEP), consensus 76c; Tyco (TYC), consensus 54c; Moody's (MCO), consensus $1.02; Xerox (XRX), consensus 26c; DTE Energy (DTE), consensus 76c; Aaron's (AAN), consensus 35c; Barnes (B), consensus 59c. :theflyonthewall.com 19:45 EDT MCEP theflyonthewall.com: Mid-Con Energy acquires Oilton Field for $56.5M in stock and cash Mid-Con Energy Partners, through its wholly owned subsidiary, Mid-Con Energy Properties, announced that it has entered into a definitive agreement to acquire net proved reserves estimated at 2.6M barrels of oil equivalent for an aggregate purchase price of approximately $56.5M, subject to customary post-closing adjustments. The acquisition, expected to close and become effective on August 5, will be funded with approximately 2.2M units of MCEP stock and $4.5M in cash. The acquired position, the Oilton Field, is a mature asset producing from a large anticline structure underlying acreage in Creek County, OK. Mid-Con Energy will acquire operatorship in Oilton along with an approximate 97% net working interest. :theflyonthewall.com 19:40 EDT theflyonthewall.com: Japan's core CPI rose 3.3% y/y in June Japan's core CPI rose 3.3% y/y in June, within expectations following the 3.4% core (excludes fresh food only) gain in May. The "core-core" CPI (excludes both food and energy) rose 2.3% y/y in June after 2.2% in May. Total CPI rose 3.6% y/y in June after the 3.7% May expansion. Tokyo core CPI expanded 2.8% y/y in July after a 2.8% rise in June. Tokyo "core-core" CPI revealed a 2.1% expansion figure in July after 2.0%. Tokyo total CPI rose 2.8% y/y in July following a 3.0% figure in June. The expansion in national core CPI extends the growth analysts've seen for over a year, adding to the evidence that the BoJ's ongoing effort to end deflation is meeting with some success. :theflyonthewall.com 19:40 EDT BAS theflyonthewall.com: Basic Energy sees Q3 revenue up 4%-6%, consensus $376.38M The company anticipates demand for its services to benefit from increased customer spending, along with better weather and longer daylight hours. The company also expects additional revenue from new expansion pumping equipment delivered in the Q3. The company currently anticipates a stronger second half of 2014 compared to the first half. :theflyonthewall.com 19:38 EDT BAS theflyonthewall.com: Basic Energy reports Q2 adjusted EPS 13c, consensus 9c Reports Q2 revenue $359.66M, consensus $356.27M. The adjusted EPS excludes a $2.9M, or 7c per diluted share, after-tax amount related to Basic's participation in a legal settlement associated with a 2013 accident. Completion and remedial services revenue rose 20% to $164.4M in Q2. Adjusted for the sale of the company's barge operations in March, well servicing revenues increased two% to $89.6M during Q2. Fluid services revenue in Q2 decreased 3% to $90.3M. Contract drilling revenue increased 14% to $15.4M during Q2. :theflyonthewall.com 19:27 EDT GIFI theflyonthewall.com: Gulf Island Fabrication reports Q2 EPS 30c, consensus 23c Reports Q2 revenue $129.17M, one estimate $92M. The company had a revenue backlog of $223.8M and a labor backlog of approximately 2.1M man-hours at June 30, including commitments received through July 24. :theflyonthewall.com 19:17 EDT GSJK theflyonthewall.com: Compressco 15.28M share Secondary priced at $23.50 BofA/Merrill, Barclays, Wells Fargo, JPMorgan, Raymond James, Credit Suisse and RBC Capital acted as joint book running managers for the offering. :theflyonthewall.com 19:11 EDT AGTC theflyonthewall.com: Applied Genetic 2M share Secondary priced at $15.00 BMO Capital, Stifel and Wedbush acted as joint book running managers for the offering. :theflyonthewall.com 19:10 EDT AAN theflyonthewall.com: Aaron's announces COO Dave Buck to retire Aaron's announced that Dave Buck, age 64, plans to retire as COO after a 25-year career at Aaron's. Effective August 1, senior VP of Operations Tristan Montanero and Michael Ryan will be co-leaders of Operations at Aaron's, with Ryan being promoted to senior VP of Operations from VP of Franchising. Aaron's named Scott Harvey, former VP of Operational Support, to succeed Michael Ryan as the VP of Franchising. :theflyonthewall.com 18:54 EDT FPI theflyonthewall.com: Farmland Partners 3.717M share Secondary priced at $12.50 RW Baird and Stifel acted as joint book running managers for the offering. :theflyonthewall.com 18:49 EDT ISBC theflyonthewall.com: Investors Bancorp reports Q2 adjusted EPS 10c, consensus 10c Reports Q2 net interest income $134.8M, consensus $132.54M. Reports Q2 loan loss provision $8.0M vs. $13.8M a year ago. Reports Q2 net charge-offs $2.6M vs. $8.9M a year ago. :theflyonthewall.com 18:45 EDT ECHO, LOGM, QLIK, BIDU, RFMD, CBI, AMZN, MXIM, P, GIMO, V theflyonthewall.com: On The Fly: After Hours Movers UP AFTER EARNINGS: Echo Global (ECHO), up 11.3% after reporting quarterly results... LogMeIn (LOGM), up 10.3%... Qlik Technologies (QLIK), up 9.4%... Baidu (BIDU), up 7% after reporting better than expected second quarter results... RF Micro Devices (RFMD), up 4.1%... Chicago Bridge & Iron (CBI), up 1.4%. DOWN AFTER EARNINGS: Amazon.com (AMZN), down 10.3% after reporting lower than expected second quarter results... Maxim Integrated (MXIM), down 13.5%... Pandora (P), down 10.5% after reporting better than expected second quarter results but conservative third quarter guidance... Gigamon (GIMO), down 2.3%... Visa (V), down 3.3% after reporting third quarter results. :theflyonthewall.com 18:43 EDT FET theflyonthewall.com: Forum Energy sees Q3 EPS 42c-48c, consensus 48c :theflyonthewall.com 18:43 EDT FET theflyonthewall.com: Forum Energy reports Q2 adjusted EPS 44c, consensus 43c Reports Q2 revenue $428M, consensus $416.62M. :theflyonthewall.com 18:41 EDT TWTR theflyonthewall.com: Twitter initiated with a Market Perform at Raymond James Raymond James cites slowing user growth and valuation for its Market Perform rating on shares of Twitter. :theflyonthewall.com 18:21 EDT AMZN theflyonthewall.com: Amazon.com now down 10% after Q2 earnings conference call :theflyonthewall.com 18:20 EDT HTBK theflyonthewall.com: Heritage Commerce raises quarterly dividend 25% to 5c from 4c per share The dividend will be payable on August 27 to shareholders of record on August 7. :theflyonthewall.com 18:19 EDT HTBK theflyonthewall.com: Heritage Commerce reports Q2 EPS 10c, consensus 11c Net interest income increased 13% to $13.7M for the second quarter, compared to $12.2M for the second quarter of 2013, and increased 3% from $13.3M for the first quarter, driven primarily by loan growth and increases in core deposits :theflyonthewall.com 18:17 EDT DECK theflyonthewall.com: Deckers Outdoor raises FY15 EPS view to up 14.5% from up 13.5% Raises FY15 revenue guidance to up approximately 14% from up 13%. The company expects FY15 SG&A expenses as a percentage of sales to be approximately 36%. Among other items, these expenses include increased marketing and supply chain costs, investments in IT infrastructure, expenses related to management reorganization, and operating costs associated with opening new stores in 2013 and 2014. The company now expects FY15 UGG brand revenues to increase approximately 12% over the twelve month period ended March 31 from the previous guidance of 11%. The company expects FY15 Teva brand revenues to increase approximately 11% over the twelve month period ended March 31. The company expects FY15 Sanuk brand revenues to increase approximately 15% over the twelve month period ended March 31. Combined FY15 net sales of the company's other brands are expected to be approximately $82M compared to $48.6M for the twelve month period ended March 31. :theflyonthewall.com 18:15 EDT WCG theflyonthewall.com: WellCare down 20% after Q2 earnings and lowering FY14 guidance :theflyonthewall.com 18:13 EDT WCG theflyonthewall.com: WellCare lowers FY14 EPS guidance to $2.20-$2.50 from $4.40-$4.75 Consensus $4.23. The company raised its FY14 revenue guidance to $12.3B-$12.4B from $12.0B-$12.1B, consensus $12.37B. The increase in revenue results from improved growth outlooks for all of the company's segments. The increased medical expense negatively impacted the FY14 outlook by approximately $73M-$80M, or $1.05-$1.15 per diluted share. :theflyonthewall.com 18:12 EDT DECK theflyonthewall.com: Deckers Outdoor reports Q1 EPS ($1.07), consensus ($1.28) In a regulatory filing, the company reports Q1 revenue $211.5M, consensus $192.01M. Reports Q1 direct-to-consumer comparable sales up 10%. Reports Q1 UGG brand net sales up 22.8% to $123.3M vs. $100.4M last year. Reports Q1 Teva brand net sales up 25.7% to $39.3M vs. $31.2M last year. Reports Q1 Sanuk brand net sales up 19.6% to $36M vs. $30.1M last year. Reports combined net sales of the company's other brands increased 54.5% to $12.9M for Q1 compared to $8.4M last year. Sales for the global retail store business, which are included in the brand sales numbers above, increased 29.4% to $42M compared to $32.5M for the same period last year. This increase was driven by 37 new stores opened after June 30, 2013, partially offset by a same SSS decrease of 2.8% for the thirteen weeks ended June 29, 2014 compared to the thirteen weeks ended June 30, 2013. :theflyonthewall.com 18:10 EDT SBUX theflyonthewall.com: Starbucks says China now approaching 1,300 stores Says will open additional Teavana store in NYC this fall. Says bullish on "all things tea." Says consumer response to Fizzio has been "strong," and expects to introduce to some international markets. Expects to open more 24-hour stores globally, and sees more store openings with Disney partnership. Says plans to test mobile ordering in U.S. later this year. Says U.K. outlook is "positive." Sees packaged goods/grocery margin expanding in FY14. Expects FY15 commodity costs "roughly neutral." Sees long-term annual EPS growth of 15%-20%. Sees 800 new stores in China/Asia Pacific region and 150 new stores in EMEA region in FY15. Says drive through stores a growing part of the portfolio, have been strong contributors to comp sales. Comments from Q3 earnings conference call. :theflyonthewall.com 18:09 EDT WCG theflyonthewall.com: WellCare reports Q2 adjusted EPS (7c), may not compare to consensus 90c Reports Q2 revenue $3.1B, consensus $3.02B. In Q2, the company recorded net unfavorable development of medical benefits payable amounting to $51.4M, or 74c per diluted share. The company recorded charges of $24.1M, or $0.35c per diluted share, in Q2 to primarily reflect the impairment of certain intangible assets associated with the company's 2012 acquisition of Easy Choice Health Plan, Inc. :theflyonthewall.com 18:02 EDT AMZN theflyonthewall.com: Amazon says Fire Phone can be viable product independently In addition to expectations that the Fire Phone will be viable as an independent product the company says Fire Phone is also integrated into existing business. Comments made on Q2 earnings conference call. :theflyonthewall.com 17:58 EDT AMZN theflyonthewall.com: Amazon.com expands AWS business, reduces prices Amazon.com said earlier in its press release that for AWS customer the company launched Amazon Zocalo, T2 instances, an SSD-backed EBS volume, Amazon Cognito, Amazon Mobile Analytics, and the AWS Mobile SDK, and "substantially reduced prices." The company also noted that "the AWS team grew by thousands of employees this past year, expanding AWS infrastructure, enterprise and public sector sales capabilities and allowing the team to innovate at an accelerating pace." The company added, "With 250 significant service and feature releases year-to-date, and substantial price reductions for customers starting in the second quarter, 28% to 51% depending on the service, AWS continues to grow strongly, with usage growth close to 90% year-over-year in the second quarter. AWS announced a new general purpose instance type for Amazon Elastic Compute Cloud. With On Demand Instance prices starting at $0.013 per hour, the new T2 instances are the lowest-cost Amazon EC2 instance option and are ideal for Web servers, developer environments, and small databases." :theflyonthewall.com 17:55 EDT theflyonthewall.com: American Enterprise Institute holds a discussion Discussion entitled, "Is It Time to End the Export-Import Bank" is being held in Washington, D.C. on July 24 at 6 pm. Webcast Link :theflyonthewall.com 17:43 EDT F theflyonthewall.com: Ford shares look attractive, Barron's says Ford is currently trading below 10 times FY15 EPS estimates of $1.92 and look attractive, Barron's contends in its "Barron's Take" column. Shares could continue higher, the paper adds. Reference Link :theflyonthewall.com 17:42 EDT SXT theflyonthewall.com: Sensient raises 2014 EPS view to $2.95-$3.02 from $2.92-$3.00, consensus $2.97 :theflyonthewall.com 17:40 EDT SXT theflyonthewall.com: Sensient reports Q2 adjusted EPS 81c, consensus 79c Reports Q2 revenue $374.7M, one estimate $388.90M. :theflyonthewall.com 17:40 EDT GIB theflyonthewall.com: CGI Federal awarded $107.88M government contract modification CGI Federal was awarded a $107.88M modification to contract W911S0-12-C-0009 to exercise Option 2 for the operational environment core functions requirement for the Army Training and Doctrine Command’s G-2 support services. Estimated completion date is Sept. 9, 2016. :theflyonthewall.com 17:38 EDT AMZN theflyonthewall.com: Amazon says various business segments not included in 'unit growth' metric Comment from Q2 earnings conference call. :theflyonthewall.com 17:36 EDT BCR theflyonthewall.com: C.R. Bard raises FY14 EPS view to $8.25-$8.35 from $8.20-$8.30 Consensus $8.26. Sees FY14 revenue up 8%-9%. Guidance reported by Bloomberg. :theflyonthewall.com 17:35 EDT WSM theflyonthewall.com: Williams-Sonoma names Dean Miller as COO, other executive appointments Williams-Sonoma announced several strategic organizational changes. Chief Marketing Officer Pat Connolly will assume the position of Chief Strategy and Business Development Officer. Chief Information Officer John Strain has been promoted to the position of Chief Digital and Technology Officer. Felix Carbullido has been promoted to the position of Chief Marketing Officer. Dean Miller has been promoted to the position of COO. :theflyonthewall.com 17:34 EDT GMO theflyonthewall.com: General Moly updates Pre-Feasibility Study for Liberty Project General Moly completed an updated Pre-Feasibility Study for its 100%-owned Liberty Project located 20 miles north of Tonopah, Nevada. Total capital costs to construct the project are estimated at $366M. Sustaining capital costs are estimated at $224M over the Liberty Project’s 32 year life of mine. For the first five full years of production: annual salable production of approximately 14.0M pounds of molybdenum and 7.5M pounds of copper per year is expected; average on-site cash costs of $6.32 per pound are expected; and total cash costs of $7.79 per pound are expected. The updated mine plan results in a total of 402M pounds of molybdenum and 308M pounds of copper to be produced during the LOM. The Liberty Project generates an after tax net present value at an 8% discount rate of $325M, and an internal rate of return of 17.4%. :theflyonthewall.com 17:34 EDT BCR theflyonthewall.com: C.R. Bard sees Q3 EPS $2.07-$2.11, consensus $2.09 Sees Q3 revenue up 7%-9%. Guidance reported by Bloomberg, citing the company's conference call. :theflyonthewall.com 17:29 EDT INFA theflyonthewall.com: Informatica lowers FY14 EPS view to $1.50-$1.60 from $1.55-$1.65 Consensus for FY14 EPS is $1.62. Narrows FY14 revenue view to $1.03B-$1.06B from $1.02B-$1.07B, consensus for FY14 revenue is $1.06B. :theflyonthewall.com 17:26 EDT INFA theflyonthewall.com: Informatica sees Q3 EPS 30c-35c, consensus 38c Sees Q3 revenue $245M-$260M, consensus $260.59M. Guidance provided on company's Q2 earnings conference call. :theflyonthewall.com 17:23 EDT SPNC theflyonthewall.com: Visium Asset Management reports 5.2% passive stake in Spectranetics :theflyonthewall.com 17:20 EDT MGNX theflyonthewall.com: MacroGenics IND MGD007 cleared by FDA to start enrolling patients MacroGenics announced that its investigational new drug, or IND, for MGD007 has been cleared by the FDA to proceed with the phase 1 human clinical trial for this drug candidate. MGD007 is a Dual-Affinity Re-Targeting protein being developed for the treatment of colorectal cancer. MacroGenics will receive a $5M milestone payment from Servier, France's largest privately-held pharmaceutical company, triggered by the IND clearance. :theflyonthewall.com 17:19 EDT WRE theflyonthewall.com: Washington REIT reports Q2 core FFO 41c, consensus 39c Reports Q2 revenue $72.25M, consensus $70.61M. Reports Q2 same-store NOI growth of 6.1% year-over-year. :theflyonthewall.com 17:17 EDT KERX theflyonthewall.com: Keryx up 3% in after hours trading after Zerenex meets phase 3 primary end-point Keryx Biopharmaceuticals announced the publication of results from the long-term, randomized, active control phase 3 study of Zerenex, the company's investigational oral ferric iron-based phosphate binder, for the treatment of hyperphosphatemia in patients with end-stage renal disease on dialysis. The PERFECTED study was published online today in the Journal of the American Society of Nephrology. Data demonstrated the drug candidate's potential to become the first phosphate binder to increase iron stores while reducing the need for IV iron and erythropoiesis-stimulating agents in end-stage renal disease patients on dialysis, according to the company. Zerenex met the study's primary end-point demonstrating a highly statistically significant change in serum phosphorus versus placebo over the four-week Placebo Control Period. Using a sequential gatekeeping strategy for the key pre-defined secondary end-points, Zerenex also demonstrated statistically significant increases in serum ferritin and transferrin saturation, and significant reductions in the use of IV iron and ESAs, versus an active control of Renvela and/or Phoslo over the 52-week Active Control Period of the study. In addition, mean hemoglobin levels were higher in subjects treated with Zerenex as compared to subjects treated with active control. Shares of Keryx are up 3% in after hours trading. :theflyonthewall.com 17:10 EDT GTIV, KND theflyonthewall.com: Gentiva Health announces entry into nondisclosure agreement Gentiva Health Services (GTIV) announced that it has entered into a nondisclosure agreement with the recognized owner, operator and investor who, as disclosed previously, delivered on July 17 a proposal to Gentiva’s board to acquire all outstanding shares of Gentiva common stock for $17.25 per share in cash, subject to certain conditions. As previously disclosed, the board also has received a conditional proposal from Kindred Healthcare (KND). The board intends to provide to Kindred a nondisclosure agreement substantially similar in all material respects to the agreement it entered into with the other party. If and when Kindred executes such nondisclosure agreement, the board will provide Kindred with the same level of due diligence that will be made available to the other party. Kindred’s access to due diligence will be further conditioned on the termination of its partial tender offer for 14.9% of Gentiva’s shares. The board will carefully review the two proposals and any other proposals it might receive, including any revised proposals. :theflyonthewall.com 17:09 EDT KLAC theflyonthewall.com: KLA-Tencor sees Q1 EPS 34c-54c, may not compare to consensus 88c Sees Q1 revenue $590M-$650M, may not compare to consensus $739.95M. Sees Q1 bookings 600M-$800M. Guidance provided during Q4 earnings conference call. :theflyonthewall.com 17:09 EDT BLDR theflyonthewall.com: Builders FirstSource reports Q2 adjusted EPS 5c, consensus 12c Reports Q2 revenue $426.5M, consensus $442.30M. :theflyonthewall.com 17:07 EDT SSD theflyonthewall.com: Simpson Manufacturing reports Q2 EPS 42c, consensus 46c Reports Q2 revenue $207.9M, consensus $213.61M. :theflyonthewall.com 17:07 EDT UHS theflyonthewall.com: Universal Health raises quarterly dividend to 10c from 5c Universal Health said its board authorized a 5c per share increase to its quarterly cash dividend to 10c per share. The dividend is payable on September 16 to shareholders of record as of September 2. :theflyonthewall.com 17:06 EDT SMLP theflyonthewall.com: Summit Midstream increases quarterly dividend by 19.5% to 52c Summit Midstream Partners announced that the board of its general partner, Summit Midstream GP, LLC, has declared a quarterly cash distribution of 52c per unit on all of its outstanding common and subordinated units, or $2.08 per unit on an annualized basis, for the quarter ended June 30. The distribution will be paid on August 14 to unitholders of record as of the close of business on August 7. :theflyonthewall.com 17:06 EDT UHS theflyonthewall.com: Universal Health announces $400M stock repurchase program Universal Health said its board authorized a stock repurchase program whereby it may spend up to $400M to purchase shares of Class B Common Stock on the open market or in negotiated private transactions. In conjunction with this program, remaining authorizations under previously announced stock repurchase programs are cancelled. :theflyonthewall.com 17:05 EDT CVRR theflyonthewall.com: Carl Icahn confirms 70% stake in CVR Refining following offering :theflyonthewall.com 17:05 EDT FB, GM, SODA, Z, TRLA, ANGI, LTM, DHI theflyonthewall.com: On The Fly: Closing Wrap Stocks on Wall Street began the session slightly higher but were unable to gather any upside momentum during the day. The market barely reacted to the much better than expected weekly jobless claims data, as the Labor Department explained that this time of the year is typically volatile for the data. The new home sales report for June had the opposite effect, as sales were worse than expected and the previous month was also revised down. The number put a lid on the averages, which moved throughout the afternoon as if summer doldrums had set in. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped 19K to 284K in the week ended July 19. While the BLS said there were no special factors in the claims data, they also reminded that the numbers can be very volatile at this time of year due in part to auto shutdowns. Markit's flash U.S. PMI for July dipped 1 point to 56.3 from 57.3 in June. June new home sales fell 8.1% to a 406K rate, which was worse than expected, and May's data was downwardly revised. In China, HSBC's flash manufacturing Purchasing Managers' Index rose to 52 in July from 50.7 a month earlier. COMPANY NEWS: Facebook (FB) achieved a new all-time high during the session and closed up $3.69, or 5.18%, to $74.98 after its revenue and profits beat expectations. After the report a number of Wall Street analysts hiked their price targets on the stock, with Jefferies and Topeka both raising their targets on the social network operator's stock to $100... Shares of General Motors (GM) declined $1.67, or 4.46%, to $35.74 after its earnings per share, excluding special items, missed consensus expectations and its revenue also fell short of the analysts' forecast. The company took a $400M special charge related to its ignition switch compensation program, but cautioned that there is no cap on this program and it is possible the total cost could increase by another $200M. Also, GM recorded a non-cash pre-tax special charge of about $900M in the second quarter for the estimated costs of future possible recalls for "up to the next 10 years on 30M GM vehicles on the road today." MAJOR MOVERS: Among the notable gainers was Trulia (TRLA), which surged $13.16, or 32.43%, to $53.74 after Bloomberg said the company is in talks to be acquired by rival real estate website operator Zillow (Z). Zillow shares also gained $19.29, or 15.25%, to $145.76 after the news service said it could tie-up with its peer in a deal that could value Trulia as much as $2B. Also higher was SodaStream (SODA), which jumped $2.73, or 9.45%, to $31.63 after Bloomberg said the home soda machine maker is holding talks with an investment firm about taking itself private at a valuation of about $828M, or $40 per share. However, an analyst at Stifel called that scenario "highly improbable to impossible." Among the noteworthy losers was Angie's List (ANGI), which plunged $1.96, or 19.27%, to $8.21 after reporting second quarter results that were worse than expected, prompting at least seven downgrades of its stock by Wall Street analysts. Also lower were Life Time Fitness (LTM), which lowered its FY14 earnings view and fell $6.00, or 12.7%, to $41.26 and D.R. Horton (DHI), which dropped $2.86, or 11.53%, to $21.94 after its quarterly profits missed expectations. INDEXES: The Dow slipped 2.83, or 0.02%, to 17,083.80, the Nasdaq dropped 1.59, or 0.04%, to 4,472.11, and the S&P 500 gained 0.97, or 0.05%, to 1,987.98. :theflyonthewall.com 17:05 EDT ATLS theflyonthewall.com: Atlas Energy increases quarterly dividend by 6.5% to 49c Atlas Energy declared an increased quarterly distribution for Q2 of 49c per common unit, or $1.96 per common unit on an annualized basis. This 49c per common unit distribution represents an approximate 6.5% increase from Q1. The Q2 distribution is payable August 19 to holders of record as of August 6. :theflyonthewall.com 17:05 EDT UHS theflyonthewall.com: Universal Health raises 2014 EPS outlook to $5.55-$5.85 from $4.80-$5.10 Consensus $5.13. The company said, "Based upon the operating trends and financial results experienced during the first six months of 2014, we are increasing our estimated range of adjusted net income attributable to UHS, for the year ended December 31, 2014, to $5.55 to $5.85 per diluted share. This revised guidance, which excludes the expected EHR impact for the year, as well as the impact of the other item reflected on the Supplemental Schedule for the six months ended June 30, 2014, represents an increase of approximately 15% to 16% from the previously provided range of $4.80 to $5.10 per diluted share." :theflyonthewall.com 17:04 EDT UHS theflyonthewall.com: Universal Health reports Q2 EPS $1.51, consensus $1.25 Reports Q2 revenue $2.02B, consensus $1.95B. :theflyonthewall.com 17:04 EDT GBCI theflyonthewall.com: Glacier Bancorp reports Q2 EPS 38c, consensus 39c Reports Q2 loan loss provision $239K vs. $1.08M a year ago. Reports Q2 net charge-offs $332K vs. $1.03M a year ago. :theflyonthewall.com 17:03 EDT HBHC theflyonthewall.com: Hancock Holding reports Q2 EPS 59c, consensus 59c Net charge-offs from the noncovered loan portfolio were $4.1M.The tangible common equity (TCE) ratio was 9.29%. :theflyonthewall.com 17:02 EDT ARP theflyonthewall.com: Atlas Resource Partners increases monthly distribution by 2% to 19.66c Atlas Resource Partners declared an increased monthly distribution for the month of June of 19.66c per common unit, or $2.36 per common unit on an annualized basis. This 19.66c per common unit distribution represents an approximate 2% increase from the May distribution, as well as a 9% increase year over year. The June distribution is payable August 14 to holders of record as of August 6. :theflyonthewall.com 17:01 EDT WSTG theflyonthewall.com: Wayside Tech reports Q2 EPS 31c, one estimate 38c Reports Q2 revenue $84.4M. :theflyonthewall.com 17:01 EDT OLN theflyonthewall.com: Olin Corp. sees 2014 adjusted EBITDA $350M-$400M :theflyonthewall.com 17:00 EDT MNTG theflyonthewall.com: MTR Gaming receives approval for proposed MTR-Eldorado merger MTR Gaming Group and Eldorado Resorts announced that the proposed combination of MTR and Eldorado HoldCo LLC has been approved by the Nevada State Gaming Control Board and the Nevada Gaming Commission. :theflyonthewall.com 17:00 EDT FBIZ theflyonthewall.com: First Business Financial reports Q2 EPS 88c, consensus 90c Reports Q2 revenue $13.2M, consensus $13.45M. :theflyonthewall.com 17:00 EDT FPO theflyonthewall.com: First Potomac now sees FY14 core FFO 91c-97c, consensus 95c First Potomac modified its FY14 core FFO per share guidance to 91c-97c per diluted share, as a result of its expectation that the GSA will not take occupancy at Atlantic Corporate Park until early 2015, and the current anticipated timing and pace of acquisitions for the remainder of the year. Sees FY14 same property NOI on accrual basis 2.0%-3.5%. :theflyonthewall.com 17:00 EDT OLN theflyonthewall.com: Olin Corp. sees Q3 EPS 30c-35c, consensus 57c :theflyonthewall.com 16:58 EDT OLN theflyonthewall.com: Olin Corp. reports Q2 cont-op EPS 46c, consensus 45c Reports Q2 revenue 570.4M$, consensus $636.21M. :theflyonthewall.com 16:58 EDT HEP theflyonthewall.com: Holly Energy increases quarterly dividend to 51.5c from 50.75c The board of Holly Energy Partners has declared a cash distribution of 51.5c per unit for Q2. For the prior quarter, 50.75 per unit was distributed to unitholders. The distribution will be paid on August 14 to unitholders of record on August 4. :theflyonthewall.com 16:57 EDT FPO theflyonthewall.com: First Potomac reports Q2 core FFO 24c, consensus 24c Reports Q2 revenue $41.2M, consensus $41.04M. Same-Property Net Operating Income increased 0.5% and 0.7% on an accrual basis for the three and six months ended June 30, respectively compared with the same periods in 2013. :theflyonthewall.com 16:57 EDT SBSI theflyonthewall.com: Southside Bancshares reports Q2 EPS 55c, consensus 52c :theflyonthewall.com 16:56 EDT DCOM theflyonthewall.com: Dime Community sees Q3 effective tax rate 41.0% Dime Community anticipates continuing promotional deposit campaigns throughout Q3 although at a reduced level compared to 1H14. Loan loss reserve provisions or credits will likely depend upon annualized loan portfolio growth, incurred and anticipated losses, and the overall credit quality of the loan portfolio. Non-interest expense is expected to approximate $15.5M during Q3. :theflyonthewall.com 16:56 EDT DRWI theflyonthewall.com: DragonWave files $80M mixed securities shelf :theflyonthewall.com 16:56 EDT CBNJ theflyonthewall.com: Cape Bancorp reports Q2 EPS 19c, consensus 17c The loan loss provision for the three months ended June 30 totaled $115K compared to $313K for the three months ended June 30, 2013. Loan charge-offs for Q2 totaled $171K compared to $344K for the three months ended June 30, 2013. :theflyonthewall.com 16:56 EDT MMLP theflyonthewall.com: Martin Midstream Partners increases quarterly dividend to 79.25c Martin Midstream Partners announced it has declared a quarterly cash distribution of 79.25c per unit for the quarter ended June 30. This quarterly distribution increase is .005c per unit higher than the distribution paid in the prior quarter. The distribution is payable on August 14 to common unitholders of record as of the close of business on August 7. The ex-dividend date for the cash distribution is August 5. :theflyonthewall.com 16:56 EDT NBBC theflyonthewall.com: NewBridge Bancorp reports Q2 EPS 3c, consensus 0c Book value per share increased to $6.05. :theflyonthewall.com 16:55 EDT MKTO theflyonthewall.com: Marketo raises FY14 EPS view to (93c)-(89c) from ($1.06)-($1.00) Consensus ($1.02). Raises FY14 revenue guidance to $143M-$145M from $138M-$141M, consensus $141.22M. :theflyonthewall.com 16:54 EDT DNBF theflyonthewall.com: DNB Financial reports Q2 EPS 38c, one estimate 44c Reports book value per common share rose to $17.62 at June 30. :theflyonthewall.com 16:54 EDT DCOM theflyonthewall.com: Dime Community reports Q2 EPS 29c, consensus 27c Reports Q2 net interest income $30.59M, consensus $31.75M. Reports Q2 loan loss provision ($1.13M) vs. $28K a year ago. :theflyonthewall.com 16:54 EDT OCFC theflyonthewall.com: OceanFirst Financial announces authorization for buyback of up to 5% of shares OceanFirst announced completion of its 2012 share repurchase program and the authorization of the board to repurchase 5% of the company's outstanding common stock, up to an additional 867,923 shares. :theflyonthewall.com 16:54 EDT FFBC theflyonthewall.com: First Financial Bancorp reports Q2 EPS 28c, consensus 27c Reports Tier 1 capital ratio of 14.34%. :theflyonthewall.com 16:53 EDT RVBD theflyonthewall.com: Riverbed sees FY14 EPS growth of 20%, consensus $1.15 :theflyonthewall.com 16:53 EDT OCFC theflyonthewall.com: OceanFirst Financial reports Q2 EPS 30c, consensus 29c The company's non-performing loans totaled $40.7M at June 30, a $4.7M decrease from December 31, 2013. Net loan charge-offs decreased to $799K for the six months ended June 30, as compared to $1.6M for the corresponding prior year period. :theflyonthewall.com 16:53 EDT RRMS theflyonthewall.com: Rose Rock Midstream increases quarterly dividend by 8% to 53.5c Rose Rock Midstream announced that the board of its general partner has declared a cash distribution for Q2 of 53.5c per unit, or $2.14 per unit on an annualized basis. This distribution represents an increase of approximately 8% over the prior quarter's distribution of 49.5c per unit, and an approximately 22% increase over 2Q13 quarterly distribution of 44c per unit. The distribution will be paid on August 14 to all unitholders of record on August 4. :theflyonthewall.com 16:53 EDT MKTO theflyonthewall.com: Marketo sees Q3 EPS (27c)-(25c), consensus (25c) Sees Q3 revenue $36.5M-$37.5M, consensus $35.8M. :theflyonthewall.com 16:52 EDT SYA theflyonthewall.com: Symetra Financial backs FY14 adjusted EPS view $1.80-$2.00, consensus $1.88 :theflyonthewall.com 16:52 EDT RVBD theflyonthewall.com: Riverbed sees FY14 revenue growth 7%-8%, consensus $1.12B Guidance from Q2 earnings conference call. :theflyonthewall.com 16:52 EDT RGA theflyonthewall.com: Reinsurance Group raises quarterly dividend to 33c from 30c The board of directors increased the quarterly dividend 10%, to 33c from 30c, payable August 29 to shareholders of record as of August 8. :theflyonthewall.com 16:52 EDT SYA theflyonthewall.com: Symetra Financial reports Q2 adjusted EPS 48c, consensus 43c Reports Q2 revenue $547.1M, consensus $527.28M. :theflyonthewall.com 16:52 EDT MKTO theflyonthewall.com: Marketo reports Q2 EPS (17c), consensus (30c) Reports Q2 revenue $36.03M, consensus $33.98M. :theflyonthewall.com 16:51 EDT KTEC theflyonthewall.com: Key Technology reports Q3 EPS (32c), consensus (12c) Reports Q3 revenue $31.3M, consensus $31.10M. :theflyonthewall.com 16:51 EDT RGA theflyonthewall.com: Reinsurance Group reports Q2 EPS $2.23, consensus $1.97 Reports Q2 revenue $2.83B, consensus $2.76B. Consolidated net premiums increased 7% to $2.2B. :theflyonthewall.com 16:51 EDT BIDU theflyonthewall.com: Baidu up 7% to $218.34 after Q2 report :theflyonthewall.com 16:51 EDT MWE theflyonthewall.com: MarkWest Energy increases quarterly dividend by 4.8% to 88c MarkWest Energy Partners announced that the board of the General Partner of MarkWest Energy Partners declared a cash distribution of 88c per common unit for Q2, for an implied annual rate of $3.52 per common unit. The Q2 distribution represents an increase of 4c per common unit, or 4.8%, compared to 2Q13. The Q2 distribution is payable August 14 to unitholders of record on August 5. The ex-dividend date is August 1. :theflyonthewall.com 16:50 EDT MTSN theflyonthewall.com: Mattson reports Q2 EPS ex-items 3c, consensus 3c Reports Q2 revenue $42.03M, consensus $40.84M. :theflyonthewall.com 16:50 EDT CHMG theflyonthewall.com: Chemung Financial reports Q2 EPS 41c, one estimate 46c Book value per share was $30.28 at June 30. :theflyonthewall.com 16:50 EDT RSG theflyonthewall.com: Republic Services raises dividend to 28c from 26c Republic Services announced that its board of directors has approved a 2c increase in the company's regular quarterly dividend. The quarterly dividend of 28c per share will be paid on Oct. 15 to stockholders of record on Oct. 1. The company said, "Our Board of Directors increased the quarterly dividend by approximately 8%, which is consistent with our historical practice." :theflyonthewall.com 16:49 EDT CLS theflyonthewall.com: Celestica sees Q3 adjusted EPS 21c-27c, consensus 25c Sees Q3 revenue $1.4B-$1.5B, consensus $1.49B. :theflyonthewall.com 16:49 EDT LOGM theflyonthewall.com: LogMeln sees FY14 EPS $1.05-$1.12, consensus $1.00 Sees FY14 revenue $216.5M-$218M, consensus $210.9M. :theflyonthewall.com 16:49 EDT GIMO theflyonthewall.com: Gigamon reports Q2 EPS (4c), consensus (2c) Reports Q2 revenue $34.9M, consensus $34.73M. :theflyonthewall.com 16:48 EDT RSG theflyonthewall.com: Republic Services backs FY14 adjusted EPS view $1.93-$1.98, consensus $1.96 Republic also maintained its 2014 adjusted free cash flow guidance of $675M-$725M. :theflyonthewall.com 16:48 EDT LOGM theflyonthewall.com: LogMeln sees Q3 EPS 27c-28c, consensus 26c Sees Q3 revenue $56M-$56.5M, consensus $53.79M. :theflyonthewall.com 16:48 EDT CLS theflyonthewall.com: Celestica reports Q2 adjusted EPS 25c, consensus 23c Reports Q2 revenue $1.472B, consensus $1.42B. :theflyonthewall.com 16:48 EDT SXL theflyonthewall.com: Sunoco Logistics increases quarterly dividend by 5% to 36.5c Sunoco Logistics announced that Sunoco Partners LLC, its general partner, has declared a cash distribution for Q2 of 36.5c per common unit to be paid on August 14 to unit holders of record on August 8. This represents a 5% increase over the Q1 dividend of 34.75c per common unit. :theflyonthewall.com 16:48 EDT LOGM theflyonthewall.com: LogMeln reports Q2 EPS 29c, consensus 24c Reports Q2 revenue $55M, consensus $52.49M. :theflyonthewall.com 16:48 EDT UACL theflyonthewall.com: Universal Truckload reports Q2 EPS 45c, consensus 45c Reports Q2 revenue $307.55M, consensus $294.65M. :theflyonthewall.com 16:47 EDT RSG theflyonthewall.com: Republic Services reports Q2 adjusted EPS 51c, consensus 49c Reports Q2 revenue $2.23B, consensus $2.19B. :theflyonthewall.com 16:47 EDT SPSC theflyonthewall.com: SPS Commerce sees 2014 adjusted EPS 62c-64c, consensus 64c Sees 2014 revenue $125.7M-$126.5M, consensus $126.23M. Sees 2014 adjusted EBITDA $17.0M-$17.5M. :theflyonthewall.com 16:47 EDT SWI theflyonthewall.com: SolarWinds sees 2014 EPS $1.68-$1.72, consensus $1.65 Sees 2014 revenue $420.5M-$426.5M, consensus $416.64M. :theflyonthewall.com 16:46 EDT HNR theflyonthewall.com: Gruss Capital reports 5.04% passive stake in Harvest Natural :theflyonthewall.com 16:46 EDT SWI theflyonthewall.com: SolarWinds sees Q3 EPS 42c-44c, consensus 42c Sees Q3 revenue $109M-$111.5M, consensus $107.2M. :theflyonthewall.com 16:46 EDT NR theflyonthewall.com: Newpark Resources reports Q2 EPS 21c, consensus 14c Reports Q2 revenue $272.5M, consensus $244.85M. Q2 results include $1.2M of pre-tax gains, or 1c per diluted share, from the sale of real estate. :theflyonthewall.com 16:46 EDT ELY theflyonthewall.com: Callaway Golf backs FY14 EPS view 12c-16c, consensus 20c Backs FY14 sales view $880M-$900M, consensus $903.3M. :theflyonthewall.com 16:46 EDT SRCE theflyonthewall.com: 1st Source reports Q2 EPS 59c, one estimate 56c :theflyonthewall.com 16:46 EDT SPSC theflyonthewall.com: SPS Commerce sees Q3 adjusted EPS 15c-16c, consensus 17c Sees Q3 revenue $31.9M-$32.4M, consensus $32.48M. Sees Q3 adjusted EBITDA $4.2M-$4.4M. :theflyonthewall.com 16:46 EDT SWI theflyonthewall.com: SolarWinds reports Q2 EPS 41c, consensus 37c Reports Q2 revenue $101.5M, consensus $98M. :theflyonthewall.com 16:46 EDT USAC theflyonthewall.com: USA Compression increases quarterly dividend to 50c from 49c USA Compression announced an increased cash distribution of 50c per unit on its common and subordinated units for Q2, which corresponds to an annualized distribution rate of $2.00 per unit, up from Q1 distribution rate of 49c per unit, or an annualized rate of $1.96. The company's Q2 distribution rate is an increase of 2.0% over Q1 and is up 13.6% year-over-year. The distribution will be paid on August 14 to unitholders of record as of the close of business on August 4. :theflyonthewall.com 16:46 EDT DRWI theflyonthewall.com: DragonWave files to sell C$21.5M of units CIBC is acting as the sole book-runner for the offering and H.C. Wainwright & Co., LLC is acting as co-lead manager. Each Unit will consist of one common share and one half of one warrant. Each whole warrant will be exercisable for one common share of the company, at an exercise price to be determined in the course of marketing, for a period of two years from the closing of the Offering. :theflyonthewall.com 16:45 EDT ELY theflyonthewall.com: Callaway Golf reports Q2 EPS 4c, consensus 6c Reports Q2 revenue $232M, consensus $247.93M. Callaway said, "The company had previously provided guidance that its sales and earnings would show a decrease versus the second quarter of 2013 as a result of a late start to the 2014 golf season, high retail inventory industrywide, and anticipated promotional activity during the second quarter. The company's second quarter results reflect those market conditions with sales being down 7%, slightly more than the company's prior guidance of flat to down 5%, and with earnings declining to 4c per diluted share compared to 12c per diluted share in 2013, which was slightly better than the company's prior guidance of breakeven to slightly profitable." :theflyonthewall.com 16:45 EDT BURL theflyonthewall.com: Burlington Stores initiated with a Buy at Buckingham Target $41. :theflyonthewall.com 16:45 EDT MITK theflyonthewall.com: Mitek Systems reports Q3 EPS 0c, consensus (8c) Reports Q3 revenue $4.66M, consensus $4.74M. :theflyonthewall.com 16:44 EDT SPSC theflyonthewall.com: SPS Commerce reports Q2 adjusted EPS 16c, consensus 15c Reports Q2 revenue $31.1, consensus $30.69M. :theflyonthewall.com 16:44 EDT STS theflyonthewall.com: Supreme Industries reports Q2 EPS 25c, one estimate 11c Reports Q2 revenue $71.6M vs. $68.9M. :theflyonthewall.com 16:44 EDT TPX theflyonthewall.com: Tempur Sealy sees 2014 adjusted EPS $2.60-$2.85, consensus $2.78 Sees 2014 revenue $2.925B-$2.975B, consensus $2.89B. :theflyonthewall.com 16:43 EDT TPX theflyonthewall.com: Tempur Sealy reports Q2 adjusted EPS 39c, consensus 41c Reports Q2 revenue $715M, consensus $703.29M. :theflyonthewall.com 16:43 EDT NBR theflyonthewall.com: Nabors Industries increases quarterly dividend by 50% to 6c Nabors Industries announced that its board has approved a 50% increase in the company's quarterly cash dividend. A dividend of 6c per common share will be paid on September 30, to shareholders of record at the close of business on September 9. :theflyonthewall.com 16:43 EDT ALTR theflyonthewall.com: Altera sees Q3 sales down 2% to up 2% sequentially Consensus $491.7M. Sees Q3 gross margin 67% +/- 0.5%. :theflyonthewall.com 16:43 EDT AIMC theflyonthewall.com: Altra Holdings lowers FY14 EPS view to $1.75-$1.85 from $1.85-$2.00 Consensus $1.97. Backs FY14 revenue guidance of $800M-$825M, consensus $828.66M. :theflyonthewall.com 16:43 EDT MCBC theflyonthewall.com: Macatawa Bank reports Q2 EPS 8c, one estimate 8c Reports Q2 loan loss provision ($1.0M) vs. ($1.0M) a year ago. Reports Q2 net charge-offs ($666K) vs. $238K a year ago. :theflyonthewall.com 16:43 EDT CTCT theflyonthewall.com: Constant Contact announces $30M share repurchase plan Under the share repurchase program, Constant Contact is authorized to repurchase up to $30M of the company's common stock. The company intends to purchase shares pursuant to a 10b5-1 trading plan through July 2015. :theflyonthewall.com 16:42 EDT LEG theflyonthewall.com: Leggett & Platt reaffirms 2014 EPS outlook $1.70-$1.85, consensus $1.76 Narrows 2014 sales outlook to $3.88B-$3.98B, consensus $3.91B. :theflyonthewall.com 16:42 EDT NEWP theflyonthewall.com: Newport to acquire fiber laser company V-Gen Newport Corporation announced that it has entered into an agreement to acquire V-Gen Ltd., a developer and manufacturer of fiber lasers headquartered in Tel Aviv, Israel. V-Gen is expected to have sales in the range of $15M-$20M in the first twelve months after the transaction closes. Terms of the transaction, which is anticipated to close during Q3, were not disclosed. :theflyonthewall.com 16:42 EDT ALTR theflyonthewall.com: Altera raises dividend to 18c from 15c Altera's board of directors has declared a quarterly cash dividend of 18c per share, to be paid on September 2 to shareholders of record on August 11. The company's previous quarterly cash dividend had been 15c per share. :theflyonthewall.com 16:42 EDT LEG theflyonthewall.com: Leggett & Platt reports Q2 adjusted EPS 48c, consensus 47c Reports Q2 revenue $1.0B, consensus $979.9M. :theflyonthewall.com 16:42 EDT CTCT theflyonthewall.com: Constant Contact backs FY14 adjusted EPS view $1.02, consensus $1.02 Raises FY14 revenue view to approximately $331M from $330M, consensus $330.26M. Backs FY14 adjusted EBITDA view approximately $60M. :theflyonthewall.com 16:42 EDT MCRL theflyonthewall.com: Micrel sees Q3 EPS 6c-9c, consensus 11c Sees Q3 revenue Up 7%-14% sequentially, consensus $65.8M. :theflyonthewall.com 16:42 EDT AIMC theflyonthewall.com: Altra Holdings reports Q2 EPS 48c, consensus 49c Reports Q2 revenue $215.2M, consensus $208.96M. :theflyonthewall.com 16:41 EDT ALTR theflyonthewall.com: Altera reports Q2 EPS 41c, consensus 37c Reports Q2 revenue $491.5M, consensus $480.65M. :theflyonthewall.com 16:41 EDT MCRI theflyonthewall.com: Monarch Casino reports Q2 EPS 18c, consensus 29c Reports Q2 revenue $47.8M, consensus $48.5M. The company said, "We are disappointed with our second quarter results as operations were impacted by higher operating expenses and lower revenue at both Atlantis and Monarch Black Hawk. The year over year comparison also reflects a one-time $560,000 accounting benefit in the 2013 second quarter. Atlantis revenue declined as a result of increased promotional activity by our competitors and lower levels of convention and meeting business while ongoing construction disruption impacted our Black Hawk operation." :theflyonthewall.com 16:40 EDT CTCT theflyonthewall.com: Constant Contact sees Q3 adjusted EPS 32c-33c, consensus 34c Sees Q3 revenue $83.4M-$83.7M, consensus $83.51M. Sees Q3 adjusted EBITDA $17.5M-$18M. :theflyonthewall.com 16:40 EDT FII theflyonthewall.com: Federated Investors reports Q2 EPS 35c, consensus 36c Reports Q2 revenue $212.98M, consensus $213.03M. Federated's total managed assets were $351.6B at June 30. Total assets were down $14.6B or 4% from March 31 and down $12.2B or 3% from June 30, 2013. :theflyonthewall.com 16:40 EDT PEP theflyonthewall.com: James Schiro retires from the board of PepsiCo due to health reasons James Schiro tendered his resignation from the board of PepsiCo, effective immediately. Schiro resigned from the board for personal health reasons. :theflyonthewall.com 16:40 EDT QLGC theflyonthewall.com: QLogic reports Q1 EPS 21c, consensus 20c Reports Q1 revenue $119.45M, consensus $119.42M. :theflyonthewall.com 16:40 EDT SHBI theflyonthewall.com: Shore Bancshares reports Q2 EPS 13c, consensus 13c The provision for credit losses was $950K for the three months. :theflyonthewall.com 16:39 EDT CTCT theflyonthewall.com: Constant Contact reports Q2 adjusted EPS 22c, consensus 19c Reports Q2 revenue $81.3M, consensus $81.17M. Gross margin was 72.8%, compared to 70.7% for the comparable period in 2013. :theflyonthewall.com 16:39 EDT VR theflyonthewall.com: Validus reports Q2 EPS $1.61, consensus $1.48 Reports Q2 net premiums earned $466.0M, consensus $495.64M. :theflyonthewall.com 16:39 EDT SIVB theflyonthewall.com: SVB Financial reports Q2 EPS $1.04, consensus 88c Reports provision for loan losses was $1.9M. :theflyonthewall.com 16:38 EDT GS theflyonthewall.com: James Schiro retires from the board of Goldman Sachs due to health reasons The board of The Goldman Sachs Group announced that James Schiro, lead director and chair of the board’s corporate governance, nominating and public responsibilities committee, has retired from the board in order to undergo treatment after a diagnosis of multiple myeloma. :theflyonthewall.com 16:38 EDT KLAC theflyonthewall.com: KLA-Tencor reports Q4 EPS 80c, consensus 86c Reports Q4 revenue $734.34M, consensus $733.71M. :theflyonthewall.com 16:38 EDT DLB theflyonthewall.com: Dolby sees FY14 revenue $945M-$955M, consensus $941.55M Sees FY14 operating expenses will be between approximately $618M-$621M on a GAAP basis and between $542M-$545M on a non-GAAP basis. :theflyonthewall.com 16:37 EDT DGII theflyonthewall.com: Digi International backs FY14 EPS view 6c-12c, consensus 9c Says most likely will post annual net income per diluted share of 9c. Backs FY14 revenue view $188M-$194M, consensus $191.62M. Says most likely to post annual revenue of approximately $191M. :theflyonthewall.com 16:37 EDT BIDU theflyonthewall.com: Baidu sees Q3 revenue $2.163B-$2.221B Sees Q3 revenues RMB13.42B-RMB13.78B, representing a 50.9% to 55.0% year-over-year increase, consensus RMB13.28B. :theflyonthewall.com 16:36 EDT IM theflyonthewall.com: Ingram Micro sees Q3 revenue up year-over-year in high single-digits Gross margin is expected to improve solidly over Q2, and be relatively flat with 3Q13. 2014 Q3 non-GAAP operating expense as a percentage of revenue is expected to continue to benefit sequentially over the Q2 from incremental cost savings related to implementation of the company's global organizational effectiveness program, and year-over-year from revenue leverage. :theflyonthewall.com 16:36 EDT FICO theflyonthewall.com: Fair Isaac raises 2014 adjusted EPS view to $3.51-$3.56 from $3.46-$3.56 Consensus for 2014 EPS is $2.53. Raises 2014 revenue to $773M-$776M from $763M-$773M, consensus $764.90M. :theflyonthewall.com 16:36 EDT CYN theflyonthewall.com: City National sees moderate net income growth in 2014 The company said, "Management expects moderate net income growth in 2014. Loan and deposit balances are expected to continue to increase, and credit quality should remain strong, though rising loan balances are expected to require a loan-loss provision later this year. Low interest rates and competitive loan pricing continue to put pressure on the company's net interest margin. This outlook reflects management's expectations for moderate economic growth throughout the remainder of 2014. This does not take into account the effect that any changes in monetary policy could have on short-term interest rates, which are not expected to rise this year." :theflyonthewall.com 16:36 EDT OKS, OKE theflyonthewall.com: ONEOK to invest $365M-$470M in Oklahoma SCOOP play ONEOK Partners announced plans to invest approximately $365M-$470M between now and 4Q16 to construct a new 200M cubic feet per day natural gas processing facility, the Knox plant, and related infrastructure in Grady and Stephens counties in Oklahoma to gather and process natural gas from the emerging South Central Oklahoma Oil Province. The Knox plant and related infrastructure, including expansions and upgrades to the partnership's existing natural gas gathering systems and compression are expected to be completed during 4Q16. The partnership has announced total investments of approximately $6.4B-$6.8B through 2016 for acquisitions and infrastructure growth projects related to natural gas gathering and processing, and natural gas liquids, which includes the projects described above. These investments consist of approximately $3.4B-$3.7B for natural gas gathering and processing projects, and approximately $3.0B-$3.1B for natural gas liquids projects. Approximately $3.1B-$3.3B are for growth projects related to resource development in the Williston Basin in North Dakota. :theflyonthewall.com 16:36 EDT CYN theflyonthewall.com: City National reports Q2 EPS $1.11, consensus 98c City National set aside no provision in Q2 and recorded a $1M reversal of allowance for loan and lease losses, excluding FDIC-covered loans. Under Basel I capital rules, the company's Tier 1 common shareholders' equity ratio was 8.8% at June 30. :theflyonthewall.com 16:35 EDT DGII theflyonthewall.com: Digi International reports Q3 EPS 0c, consensus 0c Reports Q3 revenue $47.9M, consensus $47.94M. :theflyonthewall.com 16:35 EDT BIDU theflyonthewall.com: Baidu reports Q2 EPS ex-items $1.73, consensus $1.40 Reports Q2 revenue $1.93B, or RMB11.98B, consensus RMB11.98B. :theflyonthewall.com 16:34 EDT FICO theflyonthewall.com: Fair Isaac reports Q3 adjusted EPS 83c, consensus 68c Reports Q3 revenue $197.6M, one estimate $190.90M. :theflyonthewall.com 16:34 EDT SBAC theflyonthewall.com: SBA Communications sees FY14 revenue $1.5B-$1.52B, consensus $1.48B :theflyonthewall.com 16:34 EDT MSCC theflyonthewall.com: Microsemi sees Q4 EPS 62c-66c, consensus 63c Sees Q4 revenue $299M-$305M, consensus $302.4M. :theflyonthewall.com 16:34 EDT IM theflyonthewall.com: Ingram Micro reports Q2 EPS 54c, consensus 52c Reports Q2 revenue $10.91B, consensus $10.58B. North America and Europe revenues benefited from robust mobility distribution sales, strong sales of networking products and an uptick in demand for systems products, including PCs. Latin America revenue growth was driven by strong sales of advanced solutions in Brazil and strength in tablets in Mexico. Strong revenue growth in North America, Europe and Latin America was partially offset by declines in Asia Pacific driven primarily by lower handset sales in Indonesia and continued sales weakness in China related to lower sales of tablets and softer demand for some of the products and vendors the company carries. Gross margin and non-GAAP operating margin grew respectively by 3 and 2 basis points year-over-year, benefiting from a better overall mix of higher value business, which more than offset lower margin volume growth in consumer and retail markets in Europe and new mobility distribution wins in North America. :theflyonthewall.com 16:33 EDT MSCC theflyonthewall.com: Microsemi reports Q3 EPS 58c, consensus 58c Reports Q3 revenue $292.3M, consensus $290.69M. :theflyonthewall.com 16:33 EDT SBAC theflyonthewall.com: SBA Communications sees Q3 revenue $380.5M-$390.5M, consensus $379M :theflyonthewall.com 16:33 EDT ATRC theflyonthewall.com: AtriCure raises FY14 revenue view to $103M-$105M from $101M-$104M FY14 consensus $102.57M. Consistent with the guidance provided in February, adjusted EBITDA, a non-GAAP measure, is projected to be a loss in the range of $9M-$10M for 2014, of which approximately $3.5M of expense will be related to the Estech transaction. AtriCure expects the Estech transaction to be dilutive to earnings in 2014 and accretive in 2015 and beyond. :theflyonthewall.com 16:32 EDT PFPT theflyonthewall.com: Proofpoint sees 2014 EPS (40c)-(38c), consensus (43c) Sees 2014 revenue $185M-$186M, consensus $179.99M. Billings is expected to be in the range of $214M-$215M. :theflyonthewall.com 16:32 EDT theflyonthewall.com: Fed Balance Sheet Total Assets data reported Week of 7/23 Fed Balance Sheet Total Assets at $12.5B :theflyonthewall.com 16:32 EDT DLB theflyonthewall.com: Dolby sees Q4 EPS 43c-48c, consensus 34c Sees Q4 revenue $210M-$220M, consensus $223.1M. :theflyonthewall.com 16:32 EDT theflyonthewall.com: Money Supply M2 Weekly Change data reported Week of 7/14 Money Supply M2 Weekly Change at $54.5-12.5B :theflyonthewall.com 16:32 EDT OKS theflyonthewall.com: ONEOK Partners increases quarterly dividend to 76c from 74.5c The board of the general partner of ONEOK Partners increased the partnership's quarterly cash distribution by 1.5c to 76c per unit from 74.5c per unit, effective forQ2, resulting in an annualized cash distribution of $3.04 per unit. The distribution is payable August 14 to unitholders of record as of August 4. :theflyonthewall.com 16:32 EDT PFPT theflyonthewall.com: Proofpoint sees Q3 EPS (13c)-(11c), consensus (10c) Sees Q3 revenue $47M-$48M, consensus $45.2M. :theflyonthewall.com 16:31 EDT BMTC theflyonthewall.com: Bryn Mawr Bank reports Q2 EPS 55c, consensus 49c Reports Q2 loan loss provision ($100K) vs. $1.0M a year ago. Reports Q2 net charge-offs ($200K) vs. ($1.00M) a year ago. :theflyonthewall.com 16:31 EDT MTD theflyonthewall.com: Mettler-Toledo raises FY14 adjusted EPS by 8%-10% to $11.45-$11.60 Consensus $11.62. Sees FY14 revenue up approximately 4%. :theflyonthewall.com 16:31 EDT DLB theflyonthewall.com: Dolby reports Q3 adjusted EPS 52c, consensus 26c Reports Q2 revenue $223.4M, consensus $208.58M. The company said, “We're pleased to report another strong quarter with better than expected revenues. In addition, we are excited to be featured as part of the recently announced Amazon Fire Phone which extends our presence in the full line of Kindle Fire tablets and Fire TV.” :theflyonthewall.com 16:31 EDT ATRC theflyonthewall.com: AtriCure reports Q2 EPS (10c), consensus (19c) Reports Q2 revenue $26.5M, consensus $25.03M. :theflyonthewall.com 16:31 EDT PFPT theflyonthewall.com: Proofpoint reports Q2 EPS (8c), consensus (12c) Reports Q2 revenue $46.4M, consensus $43.75M. :theflyonthewall.com 16:31 EDT SBAC theflyonthewall.com: SBA Communications reports Q2 EPS (7c), consensus (1c) Reports Q2 revenue $383.4M, consensus $371.38M. :theflyonthewall.com 16:30 EDT VRSN theflyonthewall.com: VeriSign boosts share buyback program by $491M to $1B VeriSign said its board yesterday approved an additional authorization for share repurchases of approximately $491M of common stock, which brings the total amount to $1B authorized and available under Verisign's share buyback program, which has no expiration. :theflyonthewall.com 16:30 EDT MTD theflyonthewall.com: Mettler-Toledo sees Q3 adjusted EPS $2.82-$2.87, consensus $2.88 Sees Q3 revenue of approximately 4%. :theflyonthewall.com 16:29 EDT N theflyonthewall.com: NetSuite reports Q2 adjusted EPS 6c, consensus 3c Reports Q2 revenue $131.8M, consensus $131.9M. :theflyonthewall.com 16:29 EDT RMGN theflyonthewall.com: RMG Networks names Robert Michelson as Interim CEO, Loren Buck as COO RMG Networks announced that its board has appointed Robert Michelson, 58, as interim president and interim CEO, effective immediately. This appointment follows the resignation of Garry McGuire Jr. as the company's president and CEO and his resignation from RMG Networks' board to focus on other professional opportunities. In addition to Michelson's appointment, the company also announced that Loren Buck has been promoted to COO from executive VP of strategy and business operations, effective immediately. Most recently, Michelson held senior management roles with leading technology and technology services companies including Share Rocket, Goliath Solutions and IXL. :theflyonthewall.com 16:29 EDT INFA theflyonthewall.com: Informatica reports Q2 adjusted EPS 35c, consensus 35c Reports Q2 revenue $250.7M, consensus $251.16M. :theflyonthewall.com 16:28 EDT CBI theflyonthewall.com: Chicago Bridge & Iron says confident in view of 2014 revenue, earnings growth "We remain confident in our ability to deliver revenue and earnings growth consistent with our expectations for 2014 and convert new awards activity into long-term earnings growth," said CB&I Philip Asherman, President and CEO. :theflyonthewall.com 16:28 EDT VRSN theflyonthewall.com: VeriSign reports Q2 EPS 68c, consensus 64c Reports Q2 revenue $250.4M, consensus $251.69M. :theflyonthewall.com 16:28 EDT MCRL theflyonthewall.com: Micrel reports Q2 EPS 9c, consensus 7c Reports Q2 revenue $62.3M, consensus $63.45M. :theflyonthewall.com 16:28 EDT MTD theflyonthewall.com: Mettler-Toledo reports Q2 adjusted EPS $2.57, consensus $2.57 Reports Q2 revenue $608.8M, consensus $600.05M. :theflyonthewall.com 16:27 EDT MLNX theflyonthewall.com: Mellanox sees Q3 revenue $114M-$118M, consensus $113.78M Sees Q3 Non-GAAP gross margins of 68%-69%. :theflyonthewall.com 16:27 EDT GBL theflyonthewall.com: GAMCO Investors reports Q2 EPS $1.13, one estimate $1.28 Reports Q2 revenue $108.3M, vs. $92.3M a year ago. Reports Q2 Assets Under Management $49.4B, up 22.0% from $40.5B a year ago. :theflyonthewall.com 16:27 EDT CBI theflyonthewall.com: Chicago Bridge & Iron reports Q2 EPS ex-items $1.36, consensus $1.28 Reports Q2 revenue $3.29B, consensus $3.29B. Q2 new awards totaled $4.2B, which resulted in a backlog of $31.5B. :theflyonthewall.com 16:27 EDT MLNX theflyonthewall.com: Mellanox reports Q2 EPS 15c, consensus 10c Reports Q2 revenue $102.6M, consensus $102.6M. :theflyonthewall.com 16:26 EDT SBLK theflyonthewall.com: Star Bulk Carriers takes delivery of its first eco, fuel-efficient Capesize Star Bulk Carriers announced that on July 22 it has taken delivery of M/V Peloreus, or the vessel, a 182,000 dwt Capesize built by Japan Marine United, or JMU, one of the leading shipyards worldwide. The vessel is the first of six similar vessels ordered at JMU, with expected deliveries until 3Q15. They are all built with modern specifications for lowest fuel consumption and carbon emissions of any 180,000 DWT Capesize vessel of which the company is aware. The vessel will be employed in the spot market in order to take advantage of its modern design and fuel efficient specifications. Star Bulk has entered into definitive contracts for the construction of additionally thirty six vessels at high quality shipyards in Japan and China, including thirteen Newcastlemax, nine Capesize and fourteen Ultramax vessels with fuel-efficient specifications with expected deliveries in 2014, 2015 and early 2016. The company has partially financed the $34.63M final delivery installment for the Vessel, using $32.5M proceeds from the previously committed five year senior secured credit facility by Deutsche Bank AG (DB), while the remaining amount was financed using cash on hand. :theflyonthewall.com 16:26 EDT PEB theflyonthewall.com: Pebblebrook Hotel sees FY14 FFO p/s $1.87-$1.93, consensus $1.90 :theflyonthewall.com 16:26 EDT CB theflyonthewall.com: Chubb lowers FY14 operating EPS view to $6.75-$6.95 from $7.10-$7.40 FY14 consensus $7.34. The revised guidance reflects the company's actual results in the first six months and its outlook for the second half of the year. The revised guidance assumes for the 2014 full year: A 2% to 4% increase in net written premiums; Catastrophe losses of 5.3 percentage points of the combined ratio; The impact of each percentage point of catastrophe losses on 2014 full year operating income per share is approximately 33c; A combined ratio of between 90% and 91%; A decline of 4% to 6% in property and casualty investment income after taxes; Approximately 244M average diluted shares outstanding. :theflyonthewall.com 16:26 EDT AMZN theflyonthewall.com: Amazon.com reports Q2 operating margin (0.1%) vs. 0.7% last quarter :theflyonthewall.com 16:25 EDT FSL theflyonthewall.com: Freescale sees Q3 sales $1.19B-$1.23B, consensus $1.2B Sees Q3 gross margins to increase approximately 50 basis points on a sequential basis. :theflyonthewall.com 16:25 EDT PEB theflyonthewall.com: Pebblebrook Hotel reports Q EPS 56c, consensus 54c Reports Q2 revenue $147.5M, consensus $152.34M. :theflyonthewall.com 16:25 EDT BCR theflyonthewall.com: C.R. Bard reports Q2 adjusted EPS $2.06, consensus $2.01 Reports Q2 revenue $827.1M, consensus $814.5M. :theflyonthewall.com 16:24 EDT FSL theflyonthewall.com: Freescale reports Q2 adjusted EPS 38c, consensus 37c Reports Q2 revenue $1.19B, consensus $1.17B. Reports Q2 adjusted gross margin of 45.2%. :theflyonthewall.com 16:24 EDT FLEX theflyonthewall.com: Flextronics sees Q2 adjusted EPS 22c-26c, consensus 26c Sees Q2 revenue $6.2B-$6.6B, consensus $6.56B. :theflyonthewall.com 16:24 EDT IG theflyonthewall.com: IGI Laboratories reports Q2 EPS (1c), consensus 0c Reports Q2 revenue $6.5M, consensus $6.61M. :theflyonthewall.com 16:24 EDT WRI theflyonthewall.com: Weingarten Realty reaffirms 2014 FFO outlook $1.95-$2.01, consensus $2.00 :theflyonthewall.com 16:24 EDT FLEX theflyonthewall.com: Flextronics reports Q1 adjusted EPS 25c, consensus 22c Reports Q1 revenue $6.64B, consensus $6.29B. :theflyonthewall.com 16:24 EDT CB theflyonthewall.com: Chubb reports Q2 EPS $2.03, consensus $1.90 Reports Q2 operating income per share $1.70. Net written premiums for the second quarter of 2014 increased 4% to $3.2B. :theflyonthewall.com 16:23 EDT NBHC theflyonthewall.com: National Bank reports Q2 EPS 5c, consensus 6c At June 30, tangible common book value per share was $18.53 before consideration of the excess accretable yield value of 75c per share. A provision for loan losses of $1.8M was recorded during Q2 on non 310-30 loans, consistent with the prior quarter. :theflyonthewall.com 16:23 EDT WRI theflyonthewall.com: Weingarten Realty reports Q2 FFO 51c, consensus 50c Reports Q2 revenue $130.2M, consensus $124M. :theflyonthewall.com 16:23 EDT SPNC theflyonthewall.com: Spectranetics sees FY14 EPS (36c)-(32c), consensus (30c) Sees FY14 revenue $198.5M-$201M, consensus $203.11M. :theflyonthewall.com 16:22 EDT MXIM theflyonthewall.com: Maxim Integrated raises quarterly dividend by 8% to 28c per share A cash dividend of 28c per share will be paid on September 4, to stockholders of record on August 21. This represents an 8% increase in the dividend compared to the prior quarter. :theflyonthewall.com 16:22 EDT AMZN theflyonthewall.com: Amazon.com drops 6% to $337.80 following Q2 results :theflyonthewall.com 16:22 EDT BMR theflyonthewall.com: BioMed Realty signs ten-year lease with Bristol-Myers Squibb BioMed Realty Trust (BMR) announced that Bristol-Myers Squibb (BMY) has signed a ten-year lease for approximately 61,000 square feet of additional laboratory and office space at the company's Woodside Technology Park life science campus in Redwood City, California. The Redwood City campus will serve as Bristol-Myers Squibb's hub for discovering pioneering cancer therapies in the emerging field of immunotherapy. With this lease, Bristol-Myers Squibb will fully occupy two of the three buildings at the campus totaling 194,100 square feet. :theflyonthewall.com 16:22 EDT IG theflyonthewall.com: IGI Laboratories director Damian Finio resigns IGI Laboratories has accepted Damian Finio's resignation from its Board of Directors effective August 11. Mr. Finio has accepted a senior level finance position at a pharmaceutical company, and will be unable to continue in his role as Director. The company has begun a search to replace Mr. Finio on its Board. :theflyonthewall.com 16:22 EDT MXIM theflyonthewall.com: Maxim Integrated sees Q1 EPS ex-items 34c-40c, consensus 51c Sees Q1 revenue $580M-$620M, consensus $676.06M. :theflyonthewall.com 16:22 EDT QLIK theflyonthewall.com: Qlik Technologies sees FY14 EPS 23c-27c, consensus 25c Sees FY14 revenue $545M-$555M, consensus $547.8M. :theflyonthewall.com 16:22 EDT AMZN theflyonthewall.com: Amazon.com reports Q2 operating cash flow up 18% to $5.33B Free cash flow increased to $1.04B for the trailing twelve months, compared with $265M for the railing twelve months ended June 30, 2013. :theflyonthewall.com 16:21 EDT QLIK theflyonthewall.com: Qlik Technologies sees Q3 EPS (2c)-1c Sees Q3 revenue $122M-$126M, consensus $123.35M. :theflyonthewall.com 16:21 EDT SPNC theflyonthewall.com: Spectranetics reports Q2 EPS (16c), consensus (8c) Reports Q2 revenue $43.6M, consensus $42.44M. :theflyonthewall.com 16:21 EDT EPR theflyonthewall.com: EPR Properties raises 2014 investment spending outlook Based on the strength of investment spending to date as well as the current pipeline of build-to-suit projects, the company is increasing its 2014 investment spending guidance to a range of $550M-$600M from its prior range of $500M-$550M. :theflyonthewall.com 16:20 EDT MXIM theflyonthewall.com: Maxim Integrated reports Q4 EPS ex-items 43c, consensus 48c Reports Q4 revenue $642.47M, consensus $650.35M. :theflyonthewall.com 16:20 EDT QLIK theflyonthewall.com: Qlik Technologies reports Q2 EPS 2c, consensus (3c) Reports Q2 revenue $131.6M, consensus $125.3M. :theflyonthewall.com 16:20 EDT EPR theflyonthewall.com: EPR Properties backs FY14 adj FFO view $4.00-$4.10, consensus $4.06 :theflyonthewall.com 16:19 EDT MDCA theflyonthewall.com: MDC Partners backs 2014 revenue view $1.245B-$1.270B, consensus $1.26B Raises 2014 adjusted EBITDA view to $184M-$188M from $181M-$185M. :theflyonthewall.com 16:19 EDT AMZN theflyonthewall.com: Amazon.com sees Q3 revenue $19.7B-$21.5B, consensus $20.83B Sees Q3 operating loss $810M-$410M, consensus (7c). :theflyonthewall.com 16:19 EDT RVBD theflyonthewall.com: Riverbed sees Q3 EPS 30c-32c, consensus 30c Sees Q3 revenues $285M-$291M, consensus $285.04M. :theflyonthewall.com 16:19 EDT ABAX theflyonthewall.com: Abaxis reports Q1 EPS 21c, consensus 19c Reports Q1 revenue $47.5M, consensus $46.95M. :theflyonthewall.com 16:19 EDT EPR theflyonthewall.com: EPR Properties reports Q2 adjusted FFO 97c, consensus 97c Reports Q2 revenue $91.8M, consensus $74.11M. :theflyonthewall.com 16:19 EDT AMZN theflyonthewall.com: Amazon.com reports Q2 EPS (27c), consensus (15c) Reports Q2 revenue $19.34B, consensus $19.34B. :theflyonthewall.com 16:18 EDT RVBD theflyonthewall.com: Riverbed reports Q2 adjusted EPS 26c, consensus 27c Reports Q2 revenue $264M, consensus $270.55M. "Second quarter financial results were in-line with our revised guidance and were affected by longer sales cycles primarily attributed to certain verticals and territories. Despite this, our ongoing commitment to disciplined expense management enabled us to deliver solid earnings per share consistent with the expectations we outlined at the outset of the quarter,” said Jerry M. Kennelly, chairman and CEO. :theflyonthewall.com 16:18 EDT BJRI theflyonthewall.com: BJ's Restaurants reports Q2 EPS 30c, consensus 24c Reports Q2 revenue $219.4M, consensus $219.3M. Comparable restaurant sales declined 1.7%. Company said 2014 restaurant development plan proceeding on schedule with the Q2 opening of three new restaurants and plans to open six additional restaurants in the second half of fiscal 2014, all of which will be the company's new 7,400 square foot prototype. :theflyonthewall.com 16:18 EDT PFG theflyonthewall.com: Principal Financial reports Q2 EPS $1.08, consensus $1.01 :theflyonthewall.com 16:17 EDT QGEN theflyonthewall.com: QIAGEN acquires exclusive global license to the biomarker SF3B1 QIAGEN announced it has acquired an exclusive global license to the biomarker SF3B1 from the University of Tokyo. SF3B1 is believed to play a critical role in the prognosis of patients with myelodysplastic syndromes, or MDS, a group of hematological cancers in which bone marrow does not produce enough healthy blood cells. Mutations of this gene indicate a more favorable disease progression for patients than the "wild-type" gene, so testing for these gene variants could potentially provide important guidance for treatment based on a personalized healthcare approach to MDS, according to the company. QIAGEN sees potential for developing companion diagnostics to guide treatment with new anti-cancer compounds under development that target the SF3B1 gene. :theflyonthewall.com 16:17 EDT MDCA theflyonthewall.com: MDC Partners increases quarterly dividend 5.6% to 19c MDC Partners has declared a cash dividend of 19c per share on all of its outstanding Class A shares and Class B shares, an increase of 5.6% from the prior quarterly dividend of 18c. The dividend will be payable on or about August 19 to shareholders of record at the close of business on August 5. :theflyonthewall.com 16:17 EDT BCOV theflyonthewall.com: Brightcove sees FY14 EPS (28c)-(24c), consensus (22c) Sees FY14 revenue $122M-$123M, consensus $128.87M. :theflyonthewall.com 16:17 EDT P theflyonthewall.com: Pandora share of total U.S. radio listening in June was 8.90% Share of total U.S. radio listening for Pandora in June 2014 was 8.90%, an increase from 7.04% at the same time last year . :theflyonthewall.com 16:17 EDT UPI theflyonthewall.com: Uroplasty backs FY15 revenue growth 9%-12%, consensus $27M For FY15, Uroplasty continues to expect revenue growth in the range of nine to twelve percent, approximately fifteen percent growth in global Urgent PC sales, and slightly higher gross margins on a year-over-year basis. :theflyonthewall.com 16:16 EDT SRCL theflyonthewall.com: Stericycle reports Q2 adjusted EPS $1.03, consensus $1.03 Reports Q2 revenue $640.8M, consensus $634.46M. :theflyonthewall.com 16:16 EDT MPWR theflyonthewall.com: Monolithic Power acquires Sensima Technology SA Monolithic Power Systems announced that it has acquired Sensima Technology SA located in Switzerland. Sensima is a pre-revenue, developer of magnetic sensor technologies for angle measurements as well as three-dimensional magnetic field sensing. Sensima's patented magnetic angle sensors are used in rotary encoders, electronically commutated motors and a broad range of products. MPS has acquired all of the outstanding shares of capital stock of Sensima. The purchase price includes an initial cash payment of $11.7M and a subsequent cash earn-out payment of up to $8.9M which will be based upon Sensima's achieving certain performance goals. Key employees will also be eligible to receive time-based and performance-based restricted stock units in connection with this transaction. A portion of the initial cash consideration payable to the stockholders will be placed into escrow under the terms of the acquisition agreement. :theflyonthewall.com 16:16 EDT BCOV theflyonthewall.com: Brightcove sees Q3 EPS (9c)-(8c), consensus (7c) Sees Q3 revenue $30M-$30.5M, consensus $32.4M. :theflyonthewall.com 16:16 EDT MDCA theflyonthewall.com: MDC Partners reports Q2 EPS 33c, consensus 15c Reports Q2 revenue $317.7M, consensus $311.13M. :theflyonthewall.com 16:16 EDT UPI theflyonthewall.com: Uroplasty reports Q1 EPS (10c), consensus (5c) Reports Q1 revenue $6.38M, consensus $6.41M. :theflyonthewall.com 16:16 EDT $NYE theflyonthewall.com: NYSE market internals summary Volume is extremely heavy for this time of day. Breadth is mixed with issues bearish while volume and new highs to new lows are bullish. Advancing Issues: 2129 / Declining Issues: 2274 -- for a ratio of 0.9 to 1. Advancing Volume: 1,893,697,000 / Declining Volume: 1,608,688,000 -- for a ratio of 1.2 to 1. New 52-Week Highs: 351 / New 52-Week Lows: 43. :theflyonthewall.com 16:16 EDT $NSD theflyonthewall.com: NASDAQ market internals summary Volume is very heavy for this time of day. Breadth is mixed with issues bearish while volume and new highs to new lows are bullish. Advancing Issues: 1192 / Declining Issues: 1432 -- for a ratio of 0.8 to 1. Advancing Volume: 1,005,034,000 / Declining Volume: 839,670,000 -- for a ratio of 1.2 to 1. New 52-Week Highs: 71 / New 52-Week Lows: 34. :theflyonthewall.com 16:15 EDT P theflyonthewall.com: Pandora Q2 total listener hours grew 29% to 5.04B Total listener hours grew 29% to 5.04B for the second quarter of 2014, compared to 3.91Bfor the same period last year. Active Listeners: Active listeners were 76.4M at the end of the second quarter of 2014, an increase of 7.5% from 71.1M from the same period last year. :theflyonthewall.com 16:15 EDT SBUX theflyonthewall.com: Starbucks sees Q4 adjusted EPS 73c-75c, consensus 74c :theflyonthewall.com 16:15 EDT STRM theflyonthewall.com: Streamline Health reports Q1 EPS (16c), consensus (6c) Reports Q1 revenue $6.95M, consensus $7.82M. :theflyonthewall.com 16:15 EDT BCOV theflyonthewall.com: Brightcove reports Q2 EPS ex-items (4c), consensus (11c) Reports Q2 revenue $31M, consensus $30.23M. :theflyonthewall.com 16:15 EDT theflyonthewall.com: Week of 7/14 Money Supply to be released at 16:30 :theflyonthewall.com 16:15 EDT theflyonthewall.com: Week of 7/23 Fed Balance Sheet to be released at 16:30 :theflyonthewall.com 16:14 EDT WSFS theflyonthewall.com: WSFS Financial reports Q2 EPS $1.39, consensus $1.26 Credit quality metrics showed notable improvement, leading to a decrease in provision for loan losses. For the quarter, recoveries exceeded charge-offs by $2,000, with gross charge-offs recorded at a low $1.2M, down from $3.2M recorded during the prior quarter and $4.0M recorded during the same quarter of 2013.Tangible common book value per share increased $2.55 or 6% not annualized during Q2 to $44.11 per share. :theflyonthewall.com 16:13 EDT TSRO theflyonthewall.com: TESARO names Mary Lynne Hedley COO TESARO announced that Mary Lynne Hedley, Ph.D., President and Co-Founder of TESARO, has been appointed to the role of Chief Operating Officer. :theflyonthewall.com 16:13 EDT ALGN theflyonthewall.com: Align Technology sees Q3 EPS 41c-44c, consensus 44c Sees Q3 revenue $186.3M-$190.2M, consensus $188.53M. :theflyonthewall.com 16:13 EDT DRWI theflyonthewall.com: DragonWave trading halted, pending news :theflyonthewall.com 16:13 EDT V theflyonthewall.com: Visa says Q3 payments volume growth was 12% over the prior year Payments volume growth, on a constant dollar basis, for the three months ended March 31, on which fiscal third quarter service revenue is recognized, was 12% over the prior year at $1.1T. Payments volume growth, on a constant dollar basis, for the three months ended June 30, was 11% over the prior year at $1.2T. Cross-border volume growth, on a constant dollar basis, was 7% for the three months ended June 30. Total processed transactions, which represent transactions processed by VisaNet, for the three months ended June 30, were 16.7B an 11% increase over the prior year. :theflyonthewall.com 16:13 EDT TSRO theflyonthewall.com: TESARO reports Q2 EPS ($1.03), consensus (87c) TESARO anticipates achieving the following key objectives during the second half of 2014: Submit the oral rolapitant New Drug Application to the FDA in approximately six weeks; Initiate a clinical trial of IV rolapitant to support the planned future NDA submission for registration following regulatory approval of oral rolapitant; Continue to advance the Phase 3 NOVA trial of niraparib as a maintenance therapy for patients with ovarian cancer and the Phase 3 BRAVO trial of niraparib in breast cancer patients with germline BRCA mutations; Advance the TSR-011 controlled release formulation work and further evaluate the clinical activity of a fractionated dose of TSR-011 in ALK-positive and TRK-positive patients. :theflyonthewall.com 16:13 EDT SBUX theflyonthewall.com: Starbucks sees FY14 operating margin up 200 bps over FY13 When excluding the Kraft litigation charge in fiscal 2013. Channel Development now targeting approximately 600 bps improvement over FY13. :theflyonthewall.com 16:12 EDT ALGN theflyonthewall.com: Align Technology reports Q2 EPS 43c, consensus 39c Reports Q2 revenue $192.5M, consensus $185.79M. :theflyonthewall.com 16:12 EDT PACB theflyonthewall.com: Pacific Biosciences reports Q2 EPS (27c), consensus (28c) Reports Q2 revenue $11.4M, consensus $11.39M. Q2 revenue reflects the delivery of eight PacBio RS II systems, compared to three systems during the second quarter of 2013. Cash and investments at June 30 totaled $105.0M, compared to $112.5M at December 31, 2013. :theflyonthewall.com 16:12 EDT SBUX theflyonthewall.com: Starbucks reports Q3 operating margin up 200bps to 18.5% Primarily driven by sales leverage. The company opened 344 net new stores globally, ending the quarter with 20,863 stores across 64 countries. :theflyonthewall.com 16:11 EDT V theflyonthewall.com: Visa sees FY14 EPS growth 17.5%-18.5%, consensus $8.99 Visa sees annual net revenue growth: Constant revenue growth in the 9-10% range, with an expectation of two percentage points of negative foreign currency impact, Consensus is for revenue of $12.76B. :theflyonthewall.com 16:11 EDT ECHO theflyonthewall.com: Echo Global raises 2014 revenue outlook to $1.14B-$1.18B, consensus $1.11B Says outlook does not include the potential impact of any new acquisitions throughout the remainder of the year. :theflyonthewall.com 16:11 EDT SBUX theflyonthewall.com: Starbucks sees FY15 adjusted EPS growth of 15%-20% over FY14 FY15 consensus $3.16. Sees FY15 revenue growth of 10% or greater, consensus $18.25B. Sees FY15 Global comparable store sales growth in the mid single digits. Sees FY15 additional 1,600 net new stores globally. :theflyonthewall.com 16:11 EDT SWFT theflyonthewall.com: Swift Transport sees FY14 adjusted EPS $1.24-$1.33, consensus $1.34 The company said, "We believe by making these investments now, we can deliver on our goals for 2015 and beyond. In the near-term, we expect our Adjusted EPS in the third quarter of 2014 to be in the range of 33c-37c. The fourth quarter is expected to be more robust with various seasonal business opportunities, operational improvements, contractual wins and pricing gains, which should drive Adjusted EPS in the range of 47c-52c, resulting in a full year range of $1.24-$1.33." :theflyonthewall.com 16:10 EDT ECHO theflyonthewall.com: Echo Global reports Q2 EPS 22c, consensus 18c Reports Q2 revenue $305.1M, consensus $276.73M. :theflyonthewall.com 16:10 EDT ORIT theflyonthewall.com: Oritani Financial reports Q4 EPS 23c, consensus 23c Reports Q4 NII $23.8M vs. $23.9M last year. Reports Q4 net charge-offs 0.15%. :theflyonthewall.com 16:10 EDT HBOS theflyonthewall.com: Heritage Financial reports Q2 adjusted EPS 31c, consensus 33c Reports Q2 loan loss provision $474K vs. $1.15M a year ago. Reports Q2 net charge-offs $92K vs. $698K a year ago. :theflyonthewall.com 16:10 EDT SWFT theflyonthewall.com: Swift Transport sees Q3 adjusted EPS 33c-37c, consensus 40c :theflyonthewall.com 16:09 EDT CERN theflyonthewall.com: Cerner sees FY14 EPS $1.64-$1.67 vs. previous $1.63-$1.67 Consensus $1.66. Sees FY14 revenue $3.3B-$3.4B vs. previous $3.25B-$3.4B, consensus $3.34B. :theflyonthewall.com 16:09 EDT SWFT theflyonthewall.com: Swift Transport reports Q2 adjusted EPS 33c, consensus 33c Reports Q2 revenue $1.08B, consensus $1.09B. :theflyonthewall.com 16:09 EDT SBUX theflyonthewall.com: Starbucks sees FY14 net new stores approximately 1,550 Americas: increased from 600 to 650. :theflyonthewall.com 16:09 EDT V theflyonthewall.com: Visa reports Q3 EPS $2.17, consensus $2.10 Reports Q3 revenue $3.2B, consensus $3.15B. :theflyonthewall.com 16:09 EDT RAD theflyonthewall.com: Rite Aid names Darren Karst as executive VP, CFO Rite Aid (RAD) announced that Darren Karst is joining Rite Aid as executive VP and CFO, effective August 20. Karst succeeds Frank Vitrano, who has announced he will retire in September 2015. Until then, Vitrano retains the chief administrative officer responsibilities for the company’s information technology, real estate and indirect procurement functions. He will also serve as a key resource in the development and execution of new business and growth initiatives. Karst joins Rite Aid from Roundy’s (RNDY) where he has been the executive VP, CFO and assistant secretary since 2002. :theflyonthewall.com 16:08 EDT SBUX theflyonthewall.com: Starbucks sees FY14 EPS $2.70-$2.72, consensus $2.67 Or $2.65-$2.67 when excluding an estimated net benefit of 5c for certain FY14 non-GAAP adjustments. :theflyonthewall.com 16:08 EDT CERN theflyonthewall.com: Cerner sees Q3 EPS 41c-42c, consensus 42c Sees Q3 revenue $840M-$870M, consensus $839.94M :theflyonthewall.com 16:08 EDT RFMD theflyonthewall.com: RF Micro Devices up 4.2% after reporting higher than expected Q1 results :theflyonthewall.com 16:08 EDT SBUX theflyonthewall.com: Starbucks sees Q4 EPS 76c-78c, consensus 74c :theflyonthewall.com 16:07 EDT P theflyonthewall.com: Pandora raises FY14 EPS view to 16c-19c from 14c-18c, consensus 17c Raises FY14 revenue view to $895M-$915M from $880M-$900M, consensus $900.83M :theflyonthewall.com 16:07 EDT CERN theflyonthewall.com: Cerner reports Q2 adjusted EPS 40c, consensus 40c Reports Q2 revenue $851.8M, consensus $813.77M. :theflyonthewall.com 16:07 EDT AWAY theflyonthewall.com: HomeAway up 10% to $36.00 after earnings, guidance :theflyonthewall.com 16:07 EDT RFMD theflyonthewall.com: RF Micro Devices sees Q2 EPS 27c, consensus 21c Sees Q2 revenue approximately $345M, consensus $328.81M. Sees Q2 -GAAP gross margin to be approximately flat to up 25 basis points sequentially. Sees Q2 non-GAAP operating expenses to be approximately flat. :theflyonthewall.com 16:07 EDT AWAY theflyonthewall.com: HomeAway sees FY14 revenue $444M-$449M, consensus $441.02M Sees FY14 adjusted EBITDA $118.0M-$123.0M. :theflyonthewall.com 16:06 EDT WIRE theflyonthewall.com: Encore Wire reports Q2 EPS 49c, consensus 68c Reports Q2 revenue $307.1M, consensus $312.00M. :theflyonthewall.com 16:06 EDT NTGR theflyonthewall.com: Netgear sees Q3 revenue $345M-$360M, consensus $365.95M Sees non-GAAP operating margin in the range of 9.5%-10.5%. :theflyonthewall.com 16:06 EDT AWAY theflyonthewall.com: HomeAway sees Q3 revenue $114.5M-$116.5M, consensus $113.57M Sees Q3 adjusted EBITDA is expected to be in the range of $31.0M-$32.3M. :theflyonthewall.com 16:06 EDT SBUX theflyonthewall.com: Starbucks reports Q3 EPS 67c, consensus 66c Reports Q3 revenue $4.2B, consensus $4.14B. Global comparable store sales increased 6%, marking the 18th consecutive quarter of global comp growth of 5% or greater. Americas comp sales increased 6%; U.S. comp sales increased 7%. EMEA comp sales increased 3%. China/Asia Pacific comp sales increased 7%. :theflyonthewall.com 16:05 EDT NTGR theflyonthewall.com: Netgear reports Q2 EPS 58c, consensus 55c Reports Q2 revenue $337.6M, consensus $344.29M. :theflyonthewall.com 16:05 EDT RFMD theflyonthewall.com: RF Micro Devices reports Q1 EPS 24c, consensus 17c Reports Q1 revenue $316.3M, consensus $304.86M. :theflyonthewall.com 16:05 EDT AWAY theflyonthewall.com: HomeAway reports Q2 Visits up 14.2% to 229.5M Paid listings at the end of the second quarter were 1,040,547, a year-over-year increase of 34.2% from 775,232 at the end of the second quarter of 2013. At the end of the second quarter, 744,878 of the listings were subscription listings and 295,669 were performance-based listings. Average revenue per subscription listing during the second quarter was $473, an FX neutral increase of 11.5% compared to the prior year, up 13.7% as reported. Renewal rate was 72.8% at the end of the second quarter, compared to 72.4% at the end of the second quarter of 2013 and 73.1% at the end of the first quarter of 2014. Adjusting for the impact of consolidated listings and network bundles, renewal rate for the second quarter of 2014 would have been 74.3%, compared to 74.5% at the end of the second quarter of 2013 and 74.9% at the end of the first quarter of 2014. Visits were 229.5M during the second quarter, a year-over-year increase of 14.2%. :theflyonthewall.com 16:05 EDT RNDY, RAD theflyonthewall.com: Roundy's CFO Karst leaves for Rite-Aid, names Michael Turzenski as CFO Roundy’s (RNDY) announced that Darren Karst, Roundy’s executive VP and CFO will be leaving the company to join Rite Aid (RAD) as its executive VP and CFO. Karst will remain with Roundy’s through August 9. Michael Turzenski, currently Roundy’s group VP and Chief Accounting Officer, has been appointed group VP, CFO by Roundy’s board. Turzenski has served as group VP, Chief Accounting Officer since February 2012. Turzenski joined Roundy’s in 2007 as VP, controller. :theflyonthewall.com 16:05 EDT RGC theflyonthewall.com: Regal Entertainment reports Q2 adjusted EPS 27c, consensus 27c Reports Q2 revenue $770.3M, consensus $803.19M. :theflyonthewall.com 16:05 EDT MPWR theflyonthewall.com: Monolithic Power reports Q2 adjusted EPS 37c, consensus 35c Reports Q2 revenue $68.4M, consensus $67.14M. :theflyonthewall.com 16:05 EDT P theflyonthewall.com: Pandora sees Q3 EPS 5c-8c, consensus 8c Sees Q3 revenue $235M-$240M, consensus $234.6M. :theflyonthewall.com 16:04 EDT WOOF theflyonthewall.com: VCA Inc. backs 2014 adjusted EPS view $1.77-$1.87, consensus $1.83 Backs 2014 revenue view $1.9B-$1.925B, consensus $1.90B. :theflyonthewall.com 16:04 EDT AWAY theflyonthewall.com: HomeAway reports Q2 EPS 15c, consensus 15c Reports Q2 revenue $114.3M, consensus $110.36M. Reports ending paid listings of approximately 1.04M, up 34.2% year-over-year. The company said, "We've had another great quarter, once again delivering results above our expectations. We also achieved a significant milestone, reaching one million live listings on our global network of sites." :theflyonthewall.com 16:03 EDT COLM theflyonthewall.com: Columbia Sportswear approves two-for-one stock split Columbia Sportswear said its board of directors also approved a two-for-one stock split in the form of a 100% stock dividend payable on September 26 to shareholders of record on September 8. :theflyonthewall.com 16:03 EDT P theflyonthewall.com: Pandora reports Q2 EPS 4, consensus 3c Reports Q2 revenue $218.9M, consensus $218.81M. :theflyonthewall.com 16:03 EDT LSCC theflyonthewall.com: Lattice Semiconductor sees Q3 revenue 8%-12% lower on sequential basis Sees Q3 gross margin percentage up at approximately 56% plus or minus 2%. :theflyonthewall.com 16:03 EDT COLM theflyonthewall.com: Columbia Sportswear sees FY14 EPS $3.22-$3.38, consensus $3.40 Sees FY14 revenue $2.01B-$2.04B, consensus $2.01B. Outlook includes one-time acquisition costs and first-year purchase accounting amortization and integration costs related to the prAna acquisition totaling (20c) per diluted share; approximately 15c incremental diluted earnings per share from the new China JV, after interest, taxes and non-controlling interest. :theflyonthewall.com 16:03 EDT ACTG theflyonthewall.com: Acacia Research reports Q2 adjusted EPS 16c, may not compare consensus 6c Reports Q2 revenue $50.07M, may not compare to consensus $15.13M. :theflyonthewall.com 16:02 EDT DTLK theflyonthewall.com: Datalink sees Q3 EPS 16c-22c, consensus 16c Sees Q3 revenues $150.0M-$160.0M, consensus $148.42M. :theflyonthewall.com 16:02 EDT LSCC theflyonthewall.com: Lattice Semiconductor reports Q2 EPS 10c, consensus 9c Reports Q2 revenue $99.3M, consensus $98.56M. :theflyonthewall.com 16:02 EDT WOOF theflyonthewall.com: VCA Inc. reports Q2 EPS adjusted 55c, consensus 54c Reports Q2 revenue $489.5M, consensus $491.19M. :theflyonthewall.com 16:01 EDT COLM theflyonthewall.com: Columbia Sportswear reports Q2 EPS (18c), consensus (34c) Reports Q2 revenue $324.2M, consensus $321.22M. :theflyonthewall.com 16:01 EDT DTLK theflyonthewall.com: Datalink reports Q2 EPS 22c, consensus 13c Reports Q revenue $159.4M, consensus $149.63M. :theflyonthewall.com 16:00 EDT AAPL, FB, TWTR, NFLX, C, TSLA, AMZN theflyonthewall.com: iPath S&P 500 VIX Short-Term Futures down 10c to 28.08 iPath S&P 500 VIX Short-Term Futures down 17c to 28. Option volume leaders: AAPL FB AMZN TWTR NFLX C BIDU TSLA according to Track Data. :theflyonthewall.com