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Wunderlich Securities Upgrades Stryker to Buy
Wednesday, July 27, 2011 - 5:59am | 49Wunderlich Securities upgraded its rating on Stryker (NYSE: SYK) from Hold to Buy. At the same time, the rating agency modified its price target on the company's stock to $66. On Tuesday, SYK lost 1.96% of its value to finish the day at $55.12.
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Rodman & Renshaw Maintains NuVasive Market Perform
Tuesday, July 26, 2011 - 3:38pm | 81Rodman & Renshaw maintained its NuVasive (NASDAQ: NUVA) Market Perform rating in a research report published today. In the report, Rodman & Renshaw states, "Street estimates for NuVasive, in our opinion, still remain aggressive and account for substantial operating synergies. NuVasive's...
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China North East Petroleum Breaking Out
Tuesday, July 26, 2011 - 1:47pm | 127Shares of China North East Petroleum (AMEX: NEP) are trading higher on the session by 5.26%, at $3.579. The name has been basing out for the past two months, but has now breeched the 50-day moving average. China North East Petroleum has also burst above the $3.56 resistance level set back in the...
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Avnet Technology Solutions Introduces New Consultative Services to Accelerate Cloud Adoption
Tuesday, July 26, 2011 - 11:05am | 244Avnet Technology Solutions (NYSE: AVT), today unveiled the latest services in its cloud computing solutions portfolio – cloud strategy workshops and cloud assessment services. These consultative service engagements are available as resellable services for Avnet's independent software vendors (ISVs...
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Market Movers Update
Tuesday, July 26, 2011 - 10:43am | 227Winners: Sino-Forest (OTC: SNOFF) is trading up over 18.50%. Lexmark (NYSE: LXK) is trading up almost 18.50% after the company reported earnings. Sanmina-SCI (NASDAQ: SANM)is trading up over 17% after reporting earnings. Volterra Semiconductor (NASDAQ: VLTR) is trading up over 14% after reporting...
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Earnings Roundup
Tuesday, July 26, 2011 - 9:32am | 1635Lockheed Martin Corp (NYSE: LMT) reported a 10% decline in its Q2 profit. Lockheed Martin's quarterly net earnings dropped to $742 million, or $2.14 per share, from $824 million, or $2.22 per share, in the year-earlier quarter. Its net sales increased to $11.55 billion from $11.28 billion....
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UPDATE: Piper Jaffray Raises PT on NuVasive to $42
Tuesday, July 26, 2011 - 8:46am | 82Piper Jaffray is out with its report today on NuVasive (NASDAQ: NUVA), raising its PT from $39 to $42. In a note to clients, Piper Jaffray writes, "We expect that in a stabilizing spine market the stock will continue to outperform relative to management guidance and Street estimates. We reiterate...
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Pre-Market Winners and Losers
Tuesday, July 26, 2011 - 8:42am | 202Winners: RadioShack (NYSE: RSH) is up almost 19% after the company announced an agreement to provide Verizon Wireless (NYSE: VZ) products in its stores. Broadcom (NASDAQ: BRCM) is up over 8% after reporting earnings. Ceva (NASDAQ: CEVA) is up over 7% after reporting earnings. Hexcel Corp (NYSE...
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Rockwell Medical Announces Acquisition of Generic Drug Vitamin-D to Treat Secondary Hyperparathyroidism in ESRD Patients
Tuesday, July 26, 2011 - 7:37am | 120Rockwell Medical (Nasdaq: RMTI) announced today that it has acquired an Abbreviated New Drug Application for injectable, active Vitamin-D (Calcitriol) for End Stage Renal Disease patients undergoing hemodialysis. Terms were not disclosed. Mr. Robert L. Chioini, Chairman and CEO of Rockwell Medical...
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Piper Jaffray Raises PT On NuVasive To $42
Tuesday, July 26, 2011 - 7:31am | 26Piper Jaffray has raised the price target on NuVasive (NASDAQ: NUVA) from $39 to $42 and maintains its Overweight rating.
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A Peek Into The Market Before The Trading Starts
Tuesday, July 26, 2011 - 7:23am | 383Pre-open movers US stock futures are slightly higher this morning, as investors are awaiting earnings reports and economic data. Futures for the Dow Jones Industrial Average gained 23 points to 12,573.00 and S&P 500 index futures rose 2.70 points to 1,336.20. Nasdaq 100 futures climbed 4.00...
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Accuray Announces Proposed Offering of $75 Million Convertible Senior Notes
Tuesday, July 26, 2011 - 7:03am | 260Accuray Incorporated (Nasdaq: ARAY) today announced its intention to commence an offering, subject to market and other conditions, of $75 million aggregate principal amount of convertible senior notes due 2016 to be offered and sold to qualified institutional buyers pursuant to Rule 144A under the...
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UPDATE: JP Morgan Raises PT on NuVasive from $33 to $34
Tuesday, July 26, 2011 - 6:44am | 125J.P. Morgan has published a report on NuVasive Inc (NASDAQ: NUVA) raising the price target from $33 to $34. In the report, J.P. Morgan wrote, "Nuvasive reported solid 2Q results Monday after the close, with revenues of $133.0M (+11.2%) coming in $500k above our estimate and $1.0M better than...
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Bank of America Provides Color on CareFusion
Tuesday, July 26, 2011 - 6:32am | 168Bank of America provided color on CareFusion (NYSE: CFN). In a research report published today, the rating agency commented on the company's new deal with Resmed (NYSE: RMD) In the report, Bank of America states, “Last night CFN announced an exclusive, 5-year distribution agreement with Resmed (...
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UPDATE: Covidien Reports 47% Increase In FQ3 Net Profit
Tuesday, July 26, 2011 - 6:24am | 72Covidien PLC (NYSE: COV) reported a 47% rise in its FQ3 net profit. Covidien's quarterly net profit surged to $535 million, or $1.07 per share, from $364 million, or $0.72 per share, in the year-ago period. Its revenue climbed 14% to $2.93 billion. Covidien's adjusted earnings per share gained to...