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Stockwinners Market Radar for May 21, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
| JEC... | Hot Stocks20:28 EDT On The Fly: Top five weekend stock stories - Catch up on the weekend's top five stories with this list compiled by The Fly: 1. President Donald Trump's visit to Saudi Arabia this weekend was punctuated by a number of business agreements between the kingdom and U.S. companies, with firms including Jacobs Engineering (JEC), Raytheon (RTN), Dow Chemical (DOW), Exxon Mobil (XOM), McDermott (MDR), Blackstone (BX), Lockheed Martin (LMT) and Boeing (BA) announcing order commitments, preliminary deals, and joint ventures. 2. Chemicals company Huntsman (HUN) is nearing an all-stock merger agreement with its Swiss rival Clariant, according to the Wall Street Journal. 3. SoftBank (SFTBF) announced the first close of its massive technology-focused investment fund, securing $93B of committed capital as the Japanese conglomerate targets artificial intelligence, robotics, and other areas. Investors include Apple (AAPL), Qualcomm (QCOM) and Foxconn (HNHPF) as well as the sovereign wealth funds of Saudi Arabia and the United Arab Emirates. 4. Amgen (AMGN) and UCB (UCBJY) announced that the Phase 3 trial of Evenity in osteoporosis patients met its key goals, but warned of "imbalance" in cardiovascular events and said any regulatory approval would likely slip out of 2017. 5. Berkshire Hathaway (BRK.A), Impinj (PI), Everspin (MRAM), First Data (FDC) and retail names Best Buy (BBY), Nordstrom (JWN), Home Depot (HD), Costco (COST), Wal-Mart (WMT), Lowe's (LOW), Sotheby's (BID), GGP (GGP) and Party City (PRTY) were discussed positively by Barron's.
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| I | Hot Stocks20:24 EDT Intelsat announces collaboration agreement with Telekomunikasi Indonesia - Intelsat and PT Telekomunikasi Indonesia announced a collaboration agreement designed to "provide options as the companies explore new opportunities to serve a region with expansive needs for broadband connectivity." Under the new, multi-year agreement, Telkom has relocated the Telkom-2 satellite to Intelsat's 157 East orbital location, where it will be co-located with Intelsat 5. The two satellite operators will also analyze the potential to expand services at 157 East.
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| TWTR | Hot Stocks19:34 EDT Twitter global content partnerships VP to depart - Ross Hoffman, Twitter's VP of global content partnerships, announced Friday he is departing the company. "Am excited about the momentum that Twitter has right now and have nothing but gratitude to @jack and @anthonynoto," Hoffman noted in the announcement. Reference Link
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| AMGN UCBJY | Hot Stocks19:28 EDT Amgen says Evenity unlikely to gain U.S. approval in 2017 - "Amgen has agreed with the FDA that the ARCH data should be considered in the regulatory review prior to the initial marketing authorization, and as a result the company does not expect approval of Evenity in the U.S. to occur in 2017," Amgen (AMGN) noted in tonight's joint release with UCB (UCBJY). The PDUFA action date for Evenity is July 19, 2017.
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| NAVI... | Hot Stocks19:22 EDT Education Department moves ahead with student loan servicing streamline - On Friday, the Education Department issued an amended federal student loan servicing solicitation. "The amendment further clarifies the Department's expectations of the eventual servicer and formally lists all requirements in the solicitation," the agency said in a statement. Commenting on the news, the New York Times said Friday that the project -- which intends to simplify federal student loan servicing by moving to a single vendor -- "is expected to be one of the largest nonmilitary federal contracts." Publicly traded companies in the space include Navient (NAVI), SLM Corp (SLM) and Nelnet (NNI). Reference Link
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| AMGN UCBJY | Hot Stocks18:21 EDT Amgen says ARCH study meets primary goals, shows cardiovascular safety signal - Amgen (AMGN) and UCB (UCBJY) announced that the Evenity "ARCH" study met both primary endpoints and the key secondary endpoint. At the primary analysis, treatment with Evenity for 12 months followed by alendronate significantly reduced the incidence of new vertebral fractures through 24 months, clinical fractures and non-vertebral fractures in postmenopausal women with osteoporosis at high risk for fracture. An imbalance in positively adjudicated cardiovascular serious adverse events was observed as a new safety signal, at 2.5 percent Evenity versus 1.9 percent alendronate at 12 months. Among specific data, at 24 months, women in the Evenity group experienced a statistically significant 50 percent reduction in the relative risk of a new vertebral fracture compared to those receiving alendronate alone. Women in the Evenity group also experienced a statistically significant 27 percent reduction in the relative risk of clinical fracture at the primary analysis. Additionally, non-vertebral fractures were statistically significantly reduced by 19 percent in the Evenity group, including a nominally significant reduction in hip fractures. Overall adverse events and serious adverse events were "generally similar" between the groups throughout the study and also in the initial 12-month Evenity treatment period. In the initial 12-month Evenity period, the three most commonly reported adverse events in both arms were nasopharyngitis, back pain and arthralgia. Injection site reactions were reported in 4.4 percent of patients in the Evenity treatment group and 2.6 percent in the alendronate group during the initial 12-month period. During the open-label alendronate period, there were two positively adjudicated events of osteonecrosis of the jaw, one in a patient treated with Evenity followed by alendronate and one treated with alendronate alone. There were six patients with positively adjudicated events of atypical femoral fracture during the open-label alendronate period -- two patients treated with Evenity followed by alendronate and four treated with alendronate alone. The patient incidence of positively adjudicated cardiovascular serious adverse events at 12 months was 2.5 percent in the Evenity group compared to 1.9 percent in the alendronate group. No imbalance in cardiovascular serious adverse events was seen in the 7,180-patient placebo-controlled FRAME study. "Amgen has agreed with the FDA that the ARCH data should be considered in the regulatory review prior to the initial marketing authorization, and as a result the Company does not expect approval of Evenity in the U.S. to occur in 2017," the company noted. "The efficacy results from this study comparing Evenity to an active control are robust. At the same time, the newly observed cardiovascular safety signal will have to be assessed as part of the overall benefit:risk profile for Evenity," said Sean Harper, EVP of Research and Development at Amgen. "Together with UCB, we will engage with global regulators and medical experts in the field to conduct a thorough evaluation of these data."
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| GSM | Hot Stocks18:13 EDT Ferroglobe says Canada, U.S. move forward with trade cases - "Regarding the ongoing trade cases Ferroglobe filed in Canada and the U.S., the respective government agencies have decided to move forward with their investigations, as a result of favorable first milestones: On May 16, the CBSA exercised an extension for 45 days to complete its review for this phase of the investigation. The preliminary determinations for anti-dumping and countervailing duties will now take effect on or around July 5. The company expects that the U.S. Department of Commerce will make preliminary determinations on countervailing duties in the third quarter, and on anti-dumping duties early in the fourth quarter of 2017," noted Ferroglobe.
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| TSLA | Hot Stocks17:35 EDT Elon Musk writes letter in Connecticut daily recommending direct-sale law - Tesla CEO Elon Musk published a letter in Connecticut's Hartford Courant on Friday, stating that "recent polling shows that 74% of Connecticut residents believe electric vehicle manufacturers like Tesla should be able to sell directly to customers here in the state -- as opposed to just 11% who believe this should not be the case. Unfortunately, despite this overwhelming public support, Connecticut is one of just four states that blocks us from doing this... HB 7097 would allow consumers to choose what cars they buy and from whom they buy them... Your elected officials have a choice. They can vote to cede jobs to surrounding states, or choose a path that helps the state close its budget gap and build upon its history as a place for innovation and business growth. Please encourage your legislators to allow Tesla to create jobs." Reference Link
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| FOX... | Hot Stocks16:29 EDT Box Office Battle: Sixth 'Alien' film narrowly beats 'Guardians Of The Galaxy' - Fox's (FOX) "Alien: Covenant" earned $36M in its U.S. debut over the May 21 weekend, falling short of predictions for $41M-$43M and launching well below its most immediate predecessor, 2012's "Prometheus." The sixth entry in Ridley Scott's sci-fi horror franchise received a B in audience polls from CinemaScore, holds a 73% critics rating on Rotten Tomatoes, and was produced with a reported budget of $97M. In foreign markets, "Alien: Covenant" took $30.3M. BOX OFFICE RUNNERS-UP: Disney's (DIS) "Guardians Of The Galaxy Vol. 2" added $35.1M in its third weekend, reaching U.S. and global totals of $302M and $733M. Taking third place, Time Warner's (TWX) "Everything, Everything" opened at $12M. The young-adult novel adaptation was scored A- in CinemaScore polls and holds a critics rating of 43%. Rounding out the top five, Fox's R-rated comedy "Snatched" grossed $7.6M and "Diary Of A Wimpy Kid: The Long Haul," also from Fox, debuted at $7.2M. Other publicly traded companies in filmmaking include Comcast (CMCSA), Lionsgate (LGF.A), Sony (SNE) and Viacom (VIA).
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| BA | Hot Stocks15:27 EDT Boeing announces Saudi Arabia business agreements - Boeing issued the following statement Sunday: "Several defense and commercial agreements announced yesterday will further strengthen Boeing's partnership with Saudi Arabia, create or sustain thousands of jobs in both the United States and Saudi Arabia, and enhance national security in the region... Among the announcements: Agreements to purchase Chinook helicopters and associated support services as well as guided weapon systems. Saudi Arabia's intent to order P-8 maritime, patrol and reconnaissance aircraft, which are based on the Boeing 737 commercial airplane. A joint venture with the Kingdom to provide sustainment services for a wide range of military platforms. The agreement also supports Saudi Arabia's efforts to grow its indigenous aerospace industry and ecosystem through its Vision 2030 initiative. A commercial registration certificate for the Saudi Rotorcraft Support Company, a newly formed joint venture between Boeing, Alsalam Aerospace Industries and Saudia Aerospace Engineering Industries with bases in both Riyadh and Jeddah that will provide support for both military and commercial helicopters. An agreement between Boeing and SaudiGulf Airlines to negotiate the sale of up to 16 widebody airplanes."
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| LJPC | Hot Stocks14:38 EDT La Jolla reports results, publication of Phase 3 LJPC-501 study - La Jolla Pharmaceutical announced that results of the ATHOS-3 Phase 3 study of LJPC-501, or angiotensin II, have been published online by The New England Journal of Medicine. The article also will be published in the May 25 print issue of NEJM. "In ATHOS-3, angiotensin II was shown to raise blood pressure with no increase in overall adverse events as compared to placebo in this highly treatment-resistant patient population. The effect of angiotensin II resulted in reduced use of other vasopressors," said Rinaldo Bellomo, Director of Intensive Care Research at Austin Health. The analysis of the primary efficacy endpoint of ATHOS-3, defined as the percentage of patients achieving a mean arterial pressure greater than or equal to 75 mmHg or a 10 mmHg increase from baseline MAP at 3 hours following the initiation of study treatment without an increase in standard-of-care vasopressors, was statistically significant: 23.4% of the 158 placebo-treated patients achieved the pre-specified blood pressure response, compared to 69.9% of the 163 angiotensin II-treated patients. In addition, a trend toward longer survival was observed for angiotensin II-treated patients -- 22% reduction in mortality risk through day 28. In this critically ill patient population, 91.8% of placebo-treated patients experienced at least one adverse event, compared to 87.1% of angiotensin II-treated patients, and 21.5% of placebo-treated patients discontinued treatment due to an adverse event, compared to 14.1% of angiotensin II-treated patients.
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| HON DASTY | Hot Stocks14:35 EDT Honeywell says Wi-Fi system selected by Dassault - Honeywell (HON) announced Sunday that its high-speed broadband Wi-Fi system, designed to provide aircraft with Internet speeds similar to those in homes and offices, is now an option for new Dassault (DASTY) Falcon business jets. The system can also be installed on planes already in service. Honeywell's JetWave is now available as an option for installation aboard new Falcon 900LX, Falcon 7X, Falcon 8X, Falcon 5X business jets with initial delivery in mid-2017. For existing Dassault customers, Honeywell's JetWave hardware is available for current installation on the Falcon 7X and Falcon 900 Series aircraft.
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| AMGN | Hot Stocks14:32 EDT Amgen reports data from Repatha cardiovascular outcomes trial - Amgen announced new data from the Repatha cardiovascular outcomes trial FOURIER, which showed that Repatha "consistently and safely" reduced cardiovascular events in patients with established cardiovascular disease regardless of baseline low-density lipoprotein cholesterol level below or above 70 mg/dL. A separate analysis also demonstrated Repatha reduced cardiovascular events in patients being treated with maximum-intensity statin therapy. Results were presented during the 2017 National Lipid Association Scientific Sessions. Specifically, regarding the baseline LDL-C analysis, the company said that in patients with a baseline LDL-C below 70 mg/dL, Repatha reduced the median baseline LDL-C from 65.5 mg/dL to 21.0 mg/dL. Repatha consistently reduced the risk of the composite primary endpoint, which included hospitalization for unstable angina, coronary revascularization, heart attack, stroke or cardiovascular death, regardless of whether baseline LDL-C was below or above 70 mg/dL. The results were also consistent for the more robust, secondary composite endpoint of heart attack, stroke or cardiovascular death where patients with a baseline LDL-C less than 70 mg/dL experienced a 30 percent reduction in cardiovascular events and patients with a baseline LDL-C greater than or equal to 70 mg/dL experienced a 19 percent reduction in cardiovascular events. Regarding the background statin analysis, the company said that in patients on maximum-intensity statins, Repatha reduced the median baseline LDL-C from 93 mg/dL to 32 mg/dL. Additionally, Repatha consistently reduced the risk of major cardiovascular events in patients on maximum-intensity and less intense statin therapy in both the composite primary endpoint -- 14 percent in patients on maximum-intensity statin therapy; 15 percent in patients on less intense statin therapy -- and the composite secondary endpoint -- 22 percent in patients on maximum-intensity statin therapy; 19 percent in patients on less intense statin therapy. In the two analyses, there were no differences in the rates of adverse events leading to discontinuation between treatment groups in patients who had a baseline LDL-C below 70 mg/dL or in patients on maximum-intensity statin therapy. Results from the primary analysis of the 27,564-patient Repatha cardiovascular outcomes study were also presented at the meeting. The study was statistically powered around the hard major adverse cardiovascular event composite endpoint of first heart attack, stroke or cardiovascular death and found that adding Repatha to optimized statin therapy resulted in a statistically significant 20 percent reduction in these events. The study also found a statistically significant 15 percent reduction in the risk of the extended MACE composite endpoint, which included hospitalization for unstable angina, coronary revascularization, heart attack, stroke or cardiovascular death. No new safety concerns were identified in this large clinical trial with roughly 60,000 patient-years of follow-up; this included the assessment of patients who achieved very low levels of LDL-C.
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| LMT | Hot Stocks14:14 EDT Lockheed Martin says Saudi Arabia expresses intent for $28B in defense orders - Lockheed Martin issued the following statement Saturday: "Today the United States and the Kingdom of Saudi Arabia took major steps to enhance global security and stimulate economic progress in the United States and the Middle East. KSA has expressed its intent to procure more than $28B worth of Lockheed Martin integrated air and missile defense, combat ship, tactical aircraft and rotary wing technologies and programs." The announcement includes: Letters of Offer and Acceptance and a Memorandum of Intent covering government-to-government sales of Lockheed Martin programs to include integrated error and missile defense systems, multi-mission surface combatant ships, radar systems, surveillance systems, tactical aircraft and rotary wing programs; A Letter of Intent, between Lockheed Martin and Taqnia, to form a joint venture to support final assembly and completion of an estimated 150 S-70 Black Hawk utility helicopters for the Saudi government; A Memorandum of Understanding between Lockheed Martin and Saudi Arabian Military Industries for the parties to work together to build defense capabilities in the KSA.
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| BX | Hot Stocks14:11 EDT Blackstone to launch $40B infrastructure vehicle, new infrastructure business - Blackstone and the Public Investment Fund of Saudi Arabia announced the execution of a memorandum of understanding in relation to the launch of a new investment vehicle dedicated to infrastructure with an anchor $20B contribution by PIF. Blackstone anticipates that the program will have $40B in total equity commitments in a permanent capital vehicle, including $20B to be raised from other investors. "The MOU is non-binding and the parties will continue their negotiation to agree definitive documentation... This collaboration between PIF and Blackstone is the culmination of a year's discussions between the two institutions, which began in May 2016... Blackstone's new program will help the United States address its significant need for infrastructure improvement," Blackstone noted. Overall, through the equity in this vehicle and additional debt financing, Blackstone expects to invest in more than $100B of infrastructure projects, principally in the United States, the company said.
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| SFTBF... | Hot Stocks14:08 EDT SoftBank Vision Fund announces first major close with $93B of commitments - The SoftBank Vision Fund announced Saturday its first major close with over $93B of committed capital. In addition to SoftBank Group (SFTBF) and the Public Investment Fund of Saudi Arabia, investors in the fund also include Mubadala Investment of the United Arab Emirates, Apple (AAPL), Foxconn Technology (HNHPF), Qualcomm (QCOM) and Sharp (SHCAY). The fund is targeting a total of $100B of committed capital, with a final close within six months. "SBG created the SoftBank Vision Fund as a result of its strongly held belief that the next stage of the Information Revolution is underway, and building the businesses that will make this possible will require unprecedented large scale long-term investment. Additionally, the Fund's portfolio companies are expected to significantly benefit from SBG's global scale and operational expertise, as well as its ecosystem of group portfolio companies -- including Sprint (S) and Yahoo Japan... The Fund will be SBG's primary vehicle to realise its SoftBank 2.0 vision, with preferred access to investments of $100M or more that meet the Fund's investment strategy," SoftBank said. Regarding the fund's investment strategy, SoftBank said, "The Fund will target meaningful, long-term investments in companies and foundational platform businesses that seek to enable the next age of innovation. The Fund will seek to acquire minority and majority interests in both private and public companies, from emerging technology businesses to established, multi-billion dollar companies requiring substantial growth funding. The Fund is expected to be active across a wide range of technology sectors, including but not limited to: IoT, artificial intelligence, robotics, mobile applications and computing, communications infrastructure and telecoms, computational biology and other data-driven business models, cloud technologies and software, consumer internet businesses and financial technology. The Fund will have the right to acquire certain investments already acquired, or agreed to be acquired, by SoftBank Group, including 24.99% of its holding in ARM, and investments in Guardant Health, Intelsat (I), NVIDIA (NVDA), OneWeb and SoFi." SBG's commitment to invest $28B in the fund will be partially satisfied through the in-kind contribution of approximately 24.99% of the shares in ARM, at a value of approximately $8.2B. ARM will continue to be a consolidated subsidiary of SBG. "In the course of discussions with certain investors in the Fund, a portion of ARM was requested to be transferred into the Fund based on the shared vision on the huge growth potential of ARM. There will be no change to the board, governance structure or operations of ARM as a result of the transfer. The investors in the Fund will not gain any special commercial benefits from ARM's operating business," the company noted.
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| DOW | Hot Stocks13:54 EDT Dow Chemical CEO appointed co-chair of Saudi-U.S. CEO Forum - Andrew Liveris, Dow's chairman and CEO, has been appointed co-chair of the newly launched Saudi-U.S. CEO Forum, which was created to demonstrate the "strategic partnerships between the two countries with the aim of mutual value creation and job growth." The inaugural annual forum convened chief executive officers of major Saudi and U.S. companies spanning several industries with senior Saudi government officials. Discussions focused on opportunities to enhance bilateral trade and investments, strengthen economic ties and business relationships, and explore partnership and investment opportunities aligned to Saudi Arabia's Vision 2030.
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| MDR | Hot Stocks13:52 EDT McDermott, Saudi Aramco sign memorandum of understanding - McDermott announced Saturday it signed another memorandum of understanding with Saudi Aramco to expand and develop the company's physical and human capital within Saudi Arabia as part of Aramco's In-Kingdom Total Value Add initiative. The MOU was signed as part of the first ever Saudi-U.S. CEO Forum. McDermott was the only engineering, construction, procurement, and installation services contractor attending the summit. "The MOU demonstrates McDermott's support of Saudi Arabia's Vision 2030 and Aramco's IKTVA program. The company has committed to a nine-initiative plan to increase its contribution to the country's localization efforts and aid Saudi Aramco in meeting its 2021 objectives. McDermott plans to increase the number of Saudi nationals in its Middle East workforce to 40% by 2030... This MOU strengthens our long-term plans to transition our Middle East operations to Saudi Arabia, which we believe positions us competitively in the regional market," it said. McDermott's nine-initiative plan expands the company's local supply chain, develops full-scale fabrication and marine facilities and moves area operations to Saudi Arabia and provides career training and development opportunities for highly-skilled Saudi nationals. McDermott believes the potential value of the MOU is approximately $2.8B.
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| XOM | Hot Stocks13:50 EDT Exxon Mobil, SABIC sign agreement for next phase of U.S. petrochemical project - Affiliates of Exxon Mobil and SABIC, or Saudi Basic Industries Corporation, signed an agreement Saturday to conduct a detailed study of the proposed Gulf Coast Growth Ventures project in Texas and begin planning for front-end engineering and design work. "This agreement represents an important step in the progression of the Gulf Coast Growth Ventures project," said Exxon. In April, ExxonMobil and SABIC selected a site in Texas for the proposed petrochemical complex that would include an ethane steam cracker capable of producing 1.8M tonnes of ethylene per year, a monoethylene glycol unit and two polyethylene units.
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| DOW | Hot Stocks13:45 EDT Dow Chemical signs deals for coatings, silicones investments in Saudi Arabia - Dow Chemical signed two agreements Friday to "advance the company's strategic, innovation agenda" in the Kingdom of Saudi Arabia. Dow signed an agreement to construct a state-of-the-art manufacturing facility to produce a range of polymers for coatings and water-treatment applications, and a memorandum of understanding for a feasibility study related to a proposed investment in the company's Performance Silicones franchise. Located in Jubail, the coatings facility will service the needs of the Saudi Arabian market with a range of acrylic-based polymers for industrial and architectural coatings and water-treatment and detergent applications. The proposed silicones investment will include constructing a fully integrated siloxanes and high performance silicones complex geared towards markets and industries such as home and personal care, automotive, high performance building and construction, solar energy, medical devices, and oil and gas. "This move will serve to further integrate the former Dow Corning silicones business into Dow, and will accelerate the development of new hybrid materials which will be unique, technology rich solutions for regional-specific needs," the company noted.
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| RTN | Hot Stocks13:33 EDT Raytheon, Saudi Arabia Military Industries announce strategic partnership - Raytheon and the Saudi Arabia Military Industries Company signed a memorandum of understanding Friday to cooperate on defense-related projects and technology development. "The agreement will enable continued global growth for Raytheon in key market areas such as Air Defense Systems, Smart Munitions, C4I Systems and Cyber Security of Defense Systems and Platforms," Raytheon said. "This strategic partnership is the next step in our over 50-year relationship in the Kingdom of Saudi Arabia and a strong indicator of our continued global growth," said Thomas Kennedy, Raytheon CEO. As part of the agreement, Raytheon announced plans to establish Raytheon Arabia, a Saudi legal entity wholly-owned by Raytheon that will focus on implementing programs to create indigenous defense, aerospace and security capabilities in the Kingdom. The new company will be based in Riyadh and is expected to include in-country program management, supply and sourcing capabilities, improved customer access and centralized accountability.
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| JEC | Hot Stocks13:30 EDT Jacobs Engineering, Aramco to form program management joint venture - Saudi Aramco entered into an agreement Friday with Jacobs to form a Saudi Arabia-based joint venture company to provide professional program and construction management services for social infrastructure projects throughout the Kingdom and across the Middle East and North Africa. Jacobs CEO Steve Demetriou said, "The new company combines Jacobs' industry-leading capabilities and our joint project delivery skills to help transform social infrastructure in this rapidly changing region." The new company's services will include a full-spectrum of professional PMCM activities, with expertise in supporting all phases of the project lifecycle for social infrastructure projects. The company will advance training and help create quality jobs for Saudi nationals through the development of a sustainable and competitive program.
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| SCL | Hot Stocks13:28 EDT Stepan Company announces dividend record date correction - Stepan announced Friday a corrected record date on the quarterly cash dividend on its common stock of 20.5c per share, originally announced on April 25. The dividend is payable on June 15 to stockholders of record as of May 31.
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