PRE-MARKET | October 04, 2016 | $SSMT, $SRPT, $DRI, $SDRL, $LVS, CBOE, $CRM, $AKAM, TWTR

by Alpha | Oct 4, 2016 | Business, Pre-Market

PRE-MARKET MOVERS

1. SMMT, SRPT:

$SMMT Sarepta $SRPT, Summit Therapeutics Enter Licensing Agreement for Utrophin Modulator Pipeline -SI

2. SDRL:

$SDRL Chairman John Fredriksen will be able to provide the rig giant a loan of btwn $800M-$1.2B – BBG

3. ARLZ, AZN:

$ARLZ Aralez to Acquire From AstraZeneca $AZN U.S. Rights to Beta Blocker Toprol-XL® – PRNewswre

4. OLLI, PKY:

$OLLI Ollie’s will replace Parkway Properties $PKY in the S&P SmallCap 600 aft close Wed Oct 5

5. PTC:

$PTC Goldman Sachs Sees 34% Upside in Pandora and Adds Stock to Conviction Buy List, $19 PT

6. DRI:

$DRI Olive Garden operator, Darden Restaurants, beats Q1 earnings, raises FY guidance – MarketWatch

7. SHOP:

$SHOP Goldman Sachs Starts Shopify at Buy, $53 PT

8. AVT:

$AVT Raymond James Upgrades Avnet to Strong Buy

9. CBOE:

$CBOE Wells Fargo Upgrades CBOE Holdings to Outperform, $78-83 PT

10. LVS:

$LVS BofA/Merrill Lynch Upgrades Las Vegas Sands to Buy, $63 PT

11. CXRX:

$CXRX Drug maker Concordia in talks to sell equity stake: sources – Reuters

12. CUZ, CYH: $CUZ Cousins Properties will replace Community Health Systems $CYH in the S&P MidCap 400

13. TRIB: $TRIB Trinity Biotech Announces withdrawal of Troponin FDA 510 Submission – EconoTimes

14. AKAM: $AKAM Akamai acquires enterprise security firm Soha – ZDNet

15. CRM: $CRM Salesforce Agrees to Buy Marketing-Data Startup Krux – WSJ

16. CY: $CY Cypress Semiconductor says adopted a restructuring plan – Reuters

17. ABB: $ABB ABB to Keep Power Grid Unit Despite Calls for Spinoff – WSJ

18. SBAC: $SBAC SBA Communications Board Authorizes REIT Conversion – Street Insider

19. MCD: $MCD McDonald’s China Franchise Deal Could Fetch Up to $2 Billion Up Front – WSJ

20. BBY: $BBY Best Buy Will Pay $3.8 Million Penalty for Selling Loads of Recalled Gear – Gizmodo

21. BA: $BA Boeing’s Unique Accounting Method Helps Improve Profit Picture – WSJ

22. WFC:

$WFC Raymond James Downgrades Wells Fargo to Underperform

23. TWTR:

$TWTR Twitter Only Worth $17-$26 in a Takeover – Susquehanna

24. AZN:

$AZN AstraZeneca’s Brilinta Fails to Beat Older Medicine in Trial – BBG

UPGRADES

1. AVT:$AVT Raymond James Upgrades Avnet to Strong Buy

2. CBOE:$CBOE Wells Fargo Upgrades CBOE Holdings to Outperform, $78-83 PT

3. KBR:Deutsche Bank Upgrades KBR, Inc. $KBR to Buy

4. LVS:$LVS BofA/Merrill Lynch Upgrades Las Vegas Sands to Buy, $63 PT

5. RIG:$RIG upgraded to Sector Perform at Scotia Howard Weil

6. WMAR:B. Riley Upgrades West Marine $WMAR to Buy

DOWNGRADES

1. DEPO:$DEPO downgraded to Neutral from Buy at Mizuho.

2. DPS:Evercore ISI Downgrades Dr. Pepper to Hold $DPS

3. JNS:Jefferies Downgrades Janus Capital $JNS to Hold

4. KMI:$KMI downgraded to Hold at Stifel Nicolaus

5. WFC:$WFC Raymond James Downgrades Wells Fargo to Underperform

EARNINGS

1. DRI:$DRI reports FQ1 earnings of 88c EPS and $1.71B Revs –

Trending Social Alerts

1. SRPT:$SMMT Sarepta $SRPT, Summit Therapeutics Enter Licensing Agreement for Utrophin Modulator Pipeline -SI

2. GLD:Per recent Factor Updates, #GOLD is completing descending triangle top $GC_F $GLD

3. TRIB:$TRIB halted news pending

4. HALO:@Biotech2050 so $HALO PegpH20’s become the Rx of choice for high HA #Pancan Pts by the #PancanActionNetwork even before data out-very soon.

5. SMMT:$SRPT and $SMMT License and Collaboration Agreement for European Rights to Summit’s Utrophin Modulator Pipeline for the Treatment of DMD

6. CATB:$CATB Completes Enrollment in Part B Of The MoveDMD Ph.2 Trial Of Edasalonexent For The Treatment Of DMD. Topline Data in First Half of Q1

Trending News Headlines

1. Twitter (TWTR) Only Worth $17-$26 in a Takeover – Susquehanna

Susquehanna analyst Shyam Patil performed a potential takeout price analysis on Twitter, Inc. (NYSE: TWTR) and sees a takeout range at $17-$26. With the stock currently trading at $24,…

2. Morgan Stanley Brokers Pushed Loans to Win Dinners

Getting paid for selling products is inevitable, but in finance it somehow seems icky.

3. Investors guide to this week’s clovis, tesaro ovarian cancer drug updates

A cancer research meeting beginning on Friday will provide investors with an opportunity to inspect updated clinical data on two, competing PARP inhibitors from Clovis Oncology and Tesaro.

4. Dreamforce on Twitter

“Watch the biggest moments of #DF16 on SalesforceLIVE! 🎥 View the schedule:

Technology News

1. FB bolts another service onto its flagship app. Starting to feel like the MS Office of social networking software

2. Google’s Pixel phone has already earned the prize for being the most comprehensively leaked (and prejudged) gadget in history.

3. Rover raises $40M as dog-sitting platform eyes IPO and aims for profitability

4. Facebook had a Craigslist competitor called Marketplace in ’07-’09 too. They’re betting this time it’s different.

5. Amazon cracks down on “incentivized reviews”

6. Thanks for your continued support, @MenloVentures @foundrygroup @madronaventures!

7. The fact that Google was outmaneuvered by Amazon with Echo — not Apple, which has Siri — has caused head-scratching

8. Killing Craigslist is hard due to supply/demand chicken/egg problem…so Fb gives new Marketplace premier placement

9. Intriguing (logical) move into commerce by Facebook: “Introducing Marketplace: Buy & Sell w Your Local Community”

10. Nugget from NYT story on Home: Google’s tinkering with far-field audio has focused on cars, not home devices.

Subscribe To Our Newsletter

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from our team.

You have Successfully Subscribed!

Share This

Share this post with your friends!