Analyst news

• Often criticized, Valeant's unusual CEO comes under heavy fire

  21-10-2015 23:34 via news.yahoo.com
  
  The chief executive officer of Valeant Pharmaceuticals International Inc has led the company since 2008. During most of his tenure, Valeant was a stock-market winner - until this year. Shares of Laval, Quebec-based Valeant plunged as much as 40 percent on Wednesday, before partly recovering, after short-seller Citron Research accused it of fraud.
  
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• UPDATE 5-Valeant shares plunge on short-seller scrutiny of pharmacy revenue

  21-10-2015 23:33
  * Valeant shares cut losses, last down 18 pct (Adds background, updates share price, market values)
  
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• NEWSMAKER-Often criticized, Valeant's unusual CEO comes under heavy fire

  21-10-2015 22:39
  Oct 21 (Reuters) - Mike Pearson's methods heading one of the world's most acquisitive drugmakers have long been viewed as troubling to some, merely unorthodox to others.
  
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• AT&T says third-quarter consensus revenue estimates ‘inflated’

  21-10-2015 22:34 via rocketnews.com
  (Reuters) – AT&T Inc said on Wednesday that consensus revenue estimates for its third-quarter were “inflated” as they differed from its own accounting, which includes results from DirecTV, acquired by the No. 2 U.S. wireless carrier in July. Shares of AT&T, which is scheduled to report results on Thursday, fell as much as 1.3 percent after the Wall Street Journal first reported that the company’s revenue for the quarter could fall short of market expectations. AT
  
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• AT&T says third-quarter consensus revenue estimates 'inflated'

  21-10-2015 22:34 via news.yahoo.com
  
  (Reuters) - AT&T Inc said on Wednesday that consensus revenue estimates for its third-quarter were "inflated" as they differed from its own accounting, which includes results from DirecTV, acquired by the No. 2 U.S. wireless carrier in July. Shares of AT&T, which is scheduled to report results on Thursday, fell as much as 1.3 percent after the Wall Street Journal first reported that the company's revenue for the quarter could fall short of market expectations. AT&T's shares closed do
  
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• EURCAD Bulls Brace for ECB- Rally Vulnerable Sub 1.4955

  21-10-2015 22:29
  
  EURCAD is eyeing key resistance with the immediate long-bias at risk. Here are the updated targets & invalidation levels that matter ahead of the ECB & Canada CPI.
  
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• S&P 500, Nasdaq dip with healthcare, Yahoo

  21-10-2015 21:41 via news.yahoo.com
  
  The S&P 500 and Nasdaq slipped in choppy trading late Wednesday afternoon as insurers and other big healthcare names dropped and Yahoo shares fell following disappointing results. Valeant Pharmaceutical's U.S.-listed shares dropped sharply, hitting a low of $88.50, after short-seller Citron Research released a report critical about the company. The stock later pared losses and was last at $120.39 after investor Bill Ackman said he increased his Valeant stake on Wednesday by 2 million shares,
  
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• An early stock rally fades, leaving the market mostly lower

  21-10-2015 21:27 via rocketnews.com
  Stocks are closing lower after an early rally faded.
  Energy stocks fell the most Wednesday as the price of oil tumbled.
  Yahoo slumped 5 percent after reporting a sharp drop in a closely watched measure of revenue.
  Not all the earnings news was bad. General Motors rose 6 percent after reporting earnings that beat analysts’ forecasts. Boeing rose 2 percent.
  The Dow Jones industrial average fell 48 points, 0.3 percent, to 17,168.
  The Standard & Poor’s 500 index fell 11 points, or 0
  
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• Valeant bonds plunge on short-seller report

  21-10-2015 20:49
  NEW YORK, Oct 21 (IFR) - Valeant bonds dropped as much as 12 points on Wednesday after an explosive report from a short-seller accused the company of fraudulently inflating its revenue numbers.
  
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• UPDATE 3-Valeant shares plunge on short-seller scrutiny of pharmacy revenue

  21-10-2015 20:47
  NEW YORK, Oct 21 (Reuters) - Valeant Pharmaceuticals International Inc plunged as much as 40 percent after an influential short-seller accused the company of using specialty pharmacies to inflate its...
  
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• Citron's Left hits nerve with new Valeant broadside

  21-10-2015 19:44
  NEW YORK, Oct 21 (Reuters) - Andrew Left's Citron Research is largely a one-man investment research operation that has shaken financial markets in both the United States and China from his home...
  
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• Xi sees no hard landing for China, economy enters 'new normal'

  21-10-2015 19:25 via news.yahoo.com
  
  By Kate Holton LONDON (Reuters) - President Xi Jinping said on Wednesday China would avoid a hard landing, though he acknowledged some downward pressure on the world's second largest economy. Chinese leaders have been trying to reassure jittery global markets for months that they have economic developments under control after a shock devaluation of the yuan and a plunge in China's stock market. Speaking during a state visit to Britain aimed at cementing closer economic ties, Xi said China had en
  
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• US stocks traded mixed after mostly positive earnings news

  21-10-2015 19:19 via news.yahoo.com
  
  Major U.S. stock indexes are mixed in midday trading Wednesday as investors sized up the latest company earnings and deal news. Several big companies, including General Motors, delivered better earnings than Wall Street was expecting. Crude oil prices fell.
  
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• Ferrari shares race ahead 15 percent on Wall Street debut

  21-10-2015 19:18 via news.yahoo.com
  
  By Lauren Hirsch and Agnieszka Flak NEW YORK/MILAN (Reuters) - Ferrari shares jumped 15 percent to $60 on its Wall Street debut on Wednesday after the Italian supercar maker priced its share offering at the top of the range amid heavy investor demand. Limiting the offering to a 10 percent stake helped parent Fiat Chrysler Automobiles (FCA) to leverage the scarcity factor to squeeze out value, defying a choppy U.S. market on which several big initial public offerings (IPOs) have been discounted o
  
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• UPDATE 2-Silver Lake, Thoma Bravo to take SolarWinds private in $4.5 bln deal

  21-10-2015 19:12
  Oct 21 (Reuters) - SolarWinds Inc said on Wednesday it agreed to be taken private by investment firms Silver Lake Partners and Thoma Bravo LLC for $4.5 billion, joining a growing list of enterprise...
  
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• Decline in healthcare stocks checks gains by GM, tech

  21-10-2015 19:12 via news.yahoo.com
  
  (Reuters) - Wall Street was little changed in early afternoon trading on Wednesday as gains by General Motors and technology stocks were limited by a slide in healthcare stocks.
  
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• Theranos CEO says company's underlying technology is sound

  21-10-2015 19:06 via news.yahoo.com
  
  Theranos Chief Executive Elizabeth Holmes fought back on Wednesday against accusations that the technology at the heart of the blood-testing startup has grave flaws. Holmes delivered her defense of her company at a technology conference hosted in Laguna Beach by the Wall Street Journal, which last week published a pair of stories suggesting her startup was relying on technology from traditional labs as it struggled with its own technology.
  
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• Goldman adding data scientists, marketers in consumer lending push

  21-10-2015 19:04 via news.yahoo.com
  
  Goldman Sachs Group Inc is looking to hire engineers, data scientists, operations staff, and customer service professionals as it builds up its online lending business, according to people contacted by the bank and online job postings. The most powerful bank on Wall Street has made a series of key hires as it muscles into the consumer lending business, where it hopes to use technology to compete against traditional lenders and startups.
  
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• Biogen to cut 11 percent of staff, cancel some drug programs; stock jumps

  21-10-2015 18:59 via news.yahoo.com
  
  Wall Street signaled its approval of the belt-tightening as well as better-than-expected third-quarter sales of Biogen's multiple sclerosis drugs, sending its shares up as much as 9.5 percent. The U.S. biotech's stock had fallen about 35 percent over the past three months over concerns about slowing sales of Tecfidera, its oral multiple sclerosis drug. It cut a Tecfidera program in secondary progressive multiple sclerosis after disappointing trial results.
  
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• UPDATE 3-Biogen to cut 11 pct of staff, cancel some drug programs; stock jumps

  21-10-2015 18:58
  Oct 21 (Reuters) - Biogen Inc, whose shares have tumbled since it slashed growth forecasts for its top-selling multiple sclerosis drug in July, said it will cut 11 percent of its workforce and...
  
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• UPDATE 2-Valeant shares plunge on short-seller scrutiny of pharmacy ties

  21-10-2015 18:40
  NEW YORK, Oct 21 (Reuters) - Shares of Valeant Pharmaceuticals International Inc plunged as much as 30 percent after an influential short-seller accused the company of fraud, saying it used its...
  
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• Britain's FTSE edges higher on positive company results

  21-10-2015 18:40
  * Pearson records biggest one-day loss (Uupdates prices at close)
  
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• UPDATE 2-Ferrari shares race ahead 15 pct on Wall Street debut

  21-10-2015 18:33
  * Fiat Chrysler could raise up to $982 mln from stake offering
  
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• GM profit tops estimates on strong truck demand, improved China

  21-10-2015 18:01 via news.yahoo.com
  
  By Joseph White and Bernie Woodall DETROIT (Reuters) - General Motors Co reported record quarterly earnings for the third quarter, as strong demand for trucks in North America and improved profit margins in China overcame declining revenues. GM shares rose 5.3 percent to $35.26 a share and have risen more than $5 since the start of the month. GM posted profit of $1.50 a share in the quarter, well ahead of the $1.18 per share consensus among Wall Street analysts polled by Thomson Reuters I/B/E/S.
  
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• Ferrari Roars Ahead On Wall Street Debut

  21-10-2015 17:49 via news.yahoo.com
  
  Ferrari shares roared ahead as the classic Italian sports car maker made its debut on Wall Street. Demand from motoring enthusiasts as well as institutional investors helped the shares go on offer at $52 (£34) per share, at the top end of its expected range – raising $893m (£578m) and valuing the company at around $9.8bn (£6.3bn). It was a glitzy Wall Street occasion with the Italian flag flying and Ferrari cars old and new parked outside the New York Stock Exchange.
  
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• CORRECTED-UPDATE 1-Valeant shares plunge on short-seller report

  21-10-2015 17:44
  Oct 21 (Reuters) - Shares of Valeant Pharmaceuticals International Inc plunged 30 percent after a short-seller released a report accusing the company of fraud.
  
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• Stocks waver as investors consider earnings from GM, others

  21-10-2015 17:27 via news.yahoo.com
  
  U.S. stocks drifted between small gains and losses in morning trading Wednesday as investors sifted through the latest company earnings and deal news. Several big companies, including General Motors, delivered better earnings than Wall Street was expecting. Crude oil prices fell.
  
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• UPDATE 5-Credit Suisse to raise $6 bln as new CEO shows his hand

  21-10-2015 17:18
  * Mood soured by weak third quarter results (Adds comments from CEO)
  
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• UPDATE 3-Coca-Cola warns of bigger hit on revenue from strong dollar

  21-10-2015 16:56
  Oct 21 (Reuters) - Coca-Cola Co reported a bigger-than-expected drop in quarterly sales due to a strong dollar, and the company said it expected the currency to hurt its full-year revenue more than...
  
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• USD/CAD Jumps Above C$1.3100 as BoC Cuts Growth Forecast

  21-10-2015 16:43
  
  Despite no rate cut, the Canadian Dollar is falling back after the Bank of Canada downgraded its growth forecasts.
  
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• Valeant shares plunge on short-seller report

  21-10-2015 16:36
  Oct 21 (Reuters) - Shares of Valeant Pharmaceuticals International Inc tumbled by nearly 28 percent after a short-seller released a report critical of the company, causing the stock to be temporarily...
  
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• Ferrari shares race 15 percent in Wall Street debut

  21-10-2015 16:22 via news.yahoo.com
  
  Shares in Ferrari rose 15 percent to $60 in the luxury group's Wall Street debut on Wednesday after it priced its share offering at the top end of an indicated range as investors vied to grab a slice of the maker of sportscars for the super rich. Limiting the offering to a 10 percent stake helped parent Fiat Chrysler Automobiles (FCA) push up the value of the supercar maker, defying a choppy U.S. market this year in which several big IPOs were discounted or delayed. FCA raised $893 million (578
  
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• Biogen to cut 11 percent of workforce, programs, shares rise

  21-10-2015 16:07 via news.yahoo.com
  
  Biogen Inc on Wednesday announced it was cutting 11 percent of its global workforce and eliminating the development of several drugs, including one for lupus, in moves that will reduce operating expenses by about $250 million this year. Wall Street signaled its approval of the belt-tightening, as well as the better-than-expected third-quarter sales of Biogen's multiple sclerosis drugs, sending its shares 9.0 percent higher on Wednesday. The cost savings will allow Biogen to focus on its most pro
  
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• USD/JPY Rebound Eyes 121.00- Euro Outlook Hinges on ECB Rate Decision

  21-10-2015 16:05
  
  The near-term rebound in USD/JPY may gather pace amid the dismal data out of Japan accompanied by the pickup in risk appetite.
  
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• Price & Time: The Ancient Geometry At Work in the Pound

  21-10-2015 16:00
  
  The bullish trend in sterling is under test, with a critical resistence level at 1.5540/80.
  
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• Ferrari shares race 15 pct in Wall Street debut

  21-10-2015 15:52
  MILAN, Oct 21 (Reuters) - Shares in Ferrari rose 15 percent to $60 in the luxury group's Wall Street debut on Wednesday after it priced its share offering at the top end of an indicated range as...
  
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• CORRECTED-UPDATE 2-Coca-Cola warns of bigger hit on revenue from strong dollar

  21-10-2015 15:47
  Oct 21 (Reuters) - Coca-Cola Co reported a bigger-than-expected drop in quarterly sales due to a strong dollar and the company said it expected the currency to hurt its full-year revenue more than...
  
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• Strong earnings from Boeing, GM, others send stocks higher

  21-10-2015 15:39 via news.yahoo.com
  
  NEW YORK (AP) — Stocks are opening higher as several big U.S. companies deliver better earnings than the market was expecting.
  
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• Trucks, China drive GM profit to beat Street in third quarter

  21-10-2015 15:25 via news.yahoo.com
  
  By Joseph White and Bernie Woodall DETROIT (Reuters) - General Motors Co reported record quarterly earnings before charges for the third quarter, as strong demand for trucks in North America and improved profit margins in China overcame declining revenues. GM shares rose about 4.5 percent to $35 in premarket trading. GM posted profit of $1.50 a share in the quarter, up 55 percent from a year ago and well ahead of the $1.18 per share consensus among Wall Street analysts polled by Thomson Reuters
  
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• Italian craftsmanship meets Wall Street, Ferrari goes public

  21-10-2015 15:13 via news.yahoo.com
  
  Ferrari will travel a road it's never been down before, becoming a publicly traded company with its shares listing on the New York Stock Exchange Wednesday under the ticker symbol RACE.
  
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• USDCAD Pre-News Trading Range

  21-10-2015 14:59
  
  The USDCAD is trading in a 62 pip range, prior to today’s BOC rate decision. Learn today’s trading values with the Chart of the Day!
  
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• Brent: oil remains under pressure

  21-10-2015 14:51 via liteforex.com
  Forex analytics: Current trendAfter a substantial growth in the beginning of October to $54 per barrel, the price of Brent crude oil sharply fell in the middle of the month.The main pressure on prices came from China where its GDP growth continues slowing while the country remains one of the key oil consumers. In addition, the price was pressured by statements from Iran regarding a possibility to increase its ...
  
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• Japanese Trade Data Disappoints and the Nikkei Rockets Higher

  21-10-2015 14:35
  
  Japanese exports came in far below expectations, but stocks are throttling higher under the expectation of more stimulus. But will the BOJ deliver?
  
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• UPDATE 2-Chip designer ARM sees no let-up in growth as profits jump

  21-10-2015 14:34
  LONDON, Oct 21 (Reuters) - ARM Holdings, the British chip designer whose technology powers Apple's iPhone, beat market expectations with a 27 percent rise in third-quarter profit and said it was...
  
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• Bank Says It May Be 'Too Late' To Fix Twitter

  21-10-2015 14:20 via news.yahoo.com
  
  The return of Twitter co-founder Jack Dorsey as chief executive has seen the company gain large investments from former Microsoft boss Steve Ballmer and Prince Alaweed bin Talal of Saudi Arabia in recent days. But Morgan Stanley has warned that Wall Street's target - for Twitter to double its revenue base between now and 2017 - is unrealistic. Morgan Stanley said it cannot see how the social network can add more adverts to the network, because it already has 10-times the number of adverts at Fac
  
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• UPDATE 3-ABB banks on cost-cutting to weather oil, China weakness

  21-10-2015 14:02
  * Only 'incremental' acquisitions on table (Recasts to focus on cost-cutting)
  
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• Europe midday: Stocks turn higher as investors wade through earnings

  21-10-2015 13:58 via news.yahoo.com
  
  (ShareCast News) - European stocks shook off early losses to trade higher, with investors sifting through a raft of earnings as they looked to Thursday's eagerly-awaited European Central Bank meeting.
  
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• Trucks, China drive GM to beat Street in third quarter

  21-10-2015 13:50 via news.yahoo.com
  
  General Motors Co reported record quarterly earnings before charges for the third quarter, as strong demand for trucks in North America and improved profit margins in China overcame declining revenues. GM said it earned $1.50 a share in the quarter ended Sept. 30, up 55 percent from a year ago and well ahead of the $1.18 per share consensus among Wall Street analysts polled by Thomson Reuters I/B/E/S. Including $1.5 billion in costs for expenses related to the settlement of a U.S. Justice Depart
  
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• European shares edge higher as investors shrug off poor earnings

  21-10-2015 13:24 via news.yahoo.com
  
  MILAN/LONDON, Oct (HKSE: 3366-OL.HK - news) 21 (Reuters) - European shares pared losses to turn higher on Wednesday as confidence over a positive close to the year and continued central bank support ahead of an ECB meeting on Thursday helped investors absorb weak earnings news. The pan-European FTSEurofirst 300 index was up 0.14 percent after falling 0.5 percent in the previous session, while the euro zone's blue-chip Euro STOXX 50 index climbed 0.6 percent. Investors were also focusing on the E
  
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• BUZZ-Pearson: the long and short of it

  21-10-2015 13:17
  ** Pearson loses more than 1.5 billion GBP ($2.32 billion) in market value on Wednesday, and stock on track for its worst one-day slide ever
  
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