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12:05
10/14/16
10/14
12:05
10/14/16
12:05

U.S. money market reforms take effect today

U.S. money market reforms take effect today as the SEC's rule 2a-7 will require prime money market funds to float their net asset value (NAV), while government-only money market funds will remain exempt. This was aimed at liquidity traps following the Lehman showdown that impacted short-term corporate funding, as firms typically put their cash to work at the short-end for at least marginal returns. The jury is out on the immediate impact, with some predicting prime funds will recover after the fact, while others suggest that the exodus from prime into government-only funds will continue after some $1 tln shifted already. In either case, it comes at an awkward time with the Fed on the brink of another hike and 3-month Libor already near 7-year highs, having risen above 0.88% today compared to 0.30% a year ago. Japanese institutions had been big prime buyers relative to negative domestic yields before the regulatory shift, and it's possible they could return if attracted by returns stretching nearly to 1%, relative to 0.18% on government-only MM funds. This has also been a source of cheap funding that has dried up for firms issuing CP and bank debt held by prime funds.

TODAY'S FREE FLY STORIES

HQY

HealthEquity

$43.96

1.77 (4.20%)

, MMSI

Merit Medical

$30.85

1.25 (4.22%)

07:12
02/28/17
02/28
07:12
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07:12
Conference/Events
BTIG to hold a conference »

Medical Technology, Life…

HQY

HealthEquity

$43.96

1.77 (4.20%)

MMSI

Merit Medical

$30.85

1.25 (4.22%)

VREX

Varex Imaging

$35.14

0.43 (1.24%)

VRAY

ViewRay

$5.71

0.95 (19.96%)

NVDQ

Novadaq

$7.49

0.18 (2.46%)

INGN

Inogen

$69.11

-0.11 (-0.16%)

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WRD

WildHorse Resource

$12.43

-0.15 (-1.19%)

07:12
02/28/17
02/28
07:12
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07:12
Hot Stocks
WildHorse Resource sees 2017 daily production averaging 23-27 Mboe/d »

2017 Financial and…

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SGMO

Sangamo

$4.30

0.3 (7.50%)

07:11
02/28/17
02/28
07:11
02/28/17
07:11
Earnings
Sangamo sees FY17 revenue $14M-$19M, consensus $22.51M »

Sees FY17 operating…

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07:11
02/28/17
02/28
07:11
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07:11
Conference/Events
JPMorgan to hold a conference »

Investment Companies…

JD

JD.com

$30.80

0.53 (1.75%)

07:11
02/28/17
02/28
07:11
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07:11
Recommendations
JD.com analyst commentary  »

JD.com price target…

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PCLN

Priceline

$1,632.01

0.39 (0.02%)

07:11
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02/28
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07:11
Recommendations
Priceline analyst commentary  »

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CANF

Can-Fite BioPharma

$1.96

0.0024 (0.12%)

07:11
02/28/17
02/28
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07:11
Hot Stocks
Can-Fite BioPharma: Data show Namodenoson prevents liver fibrosis progression »

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WRD

WildHorse Resource

$12.43

-0.15 (-1.19%)

07:11
02/28/17
02/28
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07:11
Hot Stocks
WildHorse Resource reports year-end 2016 proved reserves of 152.5MMboe »

Year-End 2016 Reserves:…

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I

Intelsat

$5.87

1.18 (25.16%)

07:11
02/28/17
02/28
07:11
02/28/17
07:11
Earnings
Intelsat sees 2017 revenue $2.18B-$2.225B, consensus $2.16B »

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07:10
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Conference/Events
KeyBanc to hold a summit »

Emerging Technology…

SAR

Saratoga Investment

$22.22

-0.63 (-2.76%)

07:10
02/28/17
02/28
07:10
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07:10
Hot Stocks
Saratoga Investment raises quarterly dividend to 46c per share »

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SGMO

Sangamo

$4.30

0.3 (7.50%)

07:10
02/28/17
02/28
07:10
02/28/17
07:10
Earnings
Sangamo reports Q4 EPS (14c), consensus (25c) »

Reports Q4 revenue $8.9M,…

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I

Intelsat

$5.87

1.18 (25.16%)

07:10
02/28/17
02/28
07:10
02/28/17
07:10
Earnings
Intelsat reports Q4 EPS $5.56 vs. ($38.29) last year »

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  • 28

    Feb

CAT

Caterpillar

$97.44

1.96 (2.05%)

, ITW

Illinois Tool Works

$131.88

0.2 (0.15%)

07:10
02/28/17
02/28
07:10
02/28/17
07:10
Conference/Events
Evercore ISI to hold a conference »

Annual Industrials…

CAT

Caterpillar

$97.44

1.96 (2.05%)

ITW

Illinois Tool Works

$131.88

0.2 (0.15%)

URI

United Rentals

$128.21

4.06 (3.27%)

KMT

Kennametal

$37.71

0.08 (0.21%)

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PRXL

PAREXEL

$66.26

0.32 (0.49%)

, GSK

GlaxoSmithKline

$41.57

0.01 (0.02%)

07:10
02/28/17
02/28
07:10
02/28/17
07:10
Hot Stocks
PAREXEL names SImon Harford as SVP, CFOG »

PAREXEL International…

PRXL

PAREXEL

$66.26

0.32 (0.49%)

GSK

GlaxoSmithKline

$41.57

0.01 (0.02%)

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07:09
02/28/17
02/28
07:09
02/28/17
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Conference/Events
Credit Suisse to hold a conference »

2017 Global Healthcare…

IONS

Ionis Pharmaceuticals

$46.90

2.31 (5.18%)

07:09
02/28/17
02/28
07:09
02/28/17
07:09
Earnings
Ionis Pharma reports Q4 GAAP EPS 21c, may not compare with consensus (12c) »

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SAR

Saratoga Investment

$22.22

-0.63 (-2.76%)

07:09
02/28/17
02/28
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07:09
Hot Stocks
Saratoga Investment raises quarterly dividend to 46c per share »

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MDCO

The Medicines Co.

$53.22

1.16 (2.23%)

07:08
02/28/17
02/28
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Earnings
The Medicines Co. reports Q4 adjusted EPS ($1.19), consensus ($1.43) »

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FEYE

FireEye

$11.50

0.26 (2.31%)

, PI

Impinj

$29.12

-0.87 (-2.90%)

07:08
02/28/17
02/28
07:08
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07:08
Conference/Events
Pacific Crest to hold a summit »

12th Annual Pacific Crest…

FEYE

FireEye

$11.50

0.26 (2.31%)

PI

Impinj

$29.12

-0.87 (-2.90%)

BL

BlackLine

$29.56

-0.36 (-1.20%)

FB

Facebook

$136.41

0.97 (0.72%)

MB

MINDBODY

$27.05

1.1 (4.24%)

PCTY

Paylocity

$36.41

-0.37 (-1.01%)

AZPN

Aspen Technology

$59.00

0.63 (1.08%)

ECOM

ChannelAdvisor

$10.75

-0.4 (-3.59%)

DATA

Tableau

$53.58

0.32 (0.60%)

CTXS

Citrix

$80.16

-0.02 (-0.02%)

GRPN

Groupon

$4.49

0.02 (0.45%)

CYBR

CyberArk

$50.60

0.07 (0.14%)

PFPT

Proofpoint

$79.35

-0.29 (-0.36%)

WDAY

Workday

$90.19

0.53 (0.59%)

ULTI

Ultimate Software

$199.17

0.81 (0.41%)

AMBR

Amber Road

$7.75

-0.1 (-1.27%)

VEEV

Veeva

$44.14

-0.07 (-0.16%)

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SXL

Sunoco Logistics

$25.23

-0.04 (-0.16%)

07:08
02/28/17
02/28
07:08
02/28/17
07:08
Initiation
Sunoco Logistics initiated  »

Sunoco Logistics…

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WDAY

Workday

07:08
02/28/17
02/28
07:08
02/28/17
07:08
Downgrade
Workday rating change  »

Workday downgraded to…

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NXST

Nexstar

$70.20

0.45 (0.65%)

07:07
02/28/17
02/28
07:07
02/28/17
07:07
Earnings
Nexstar reports Q4 EPS 64c including items, consensus $1.38 »

Reports Q4 revenue…

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VRX

Valeant

$16.71

0.53 (3.28%)

07:07
02/28/17
02/28
07:07
02/28/17
07:07
Hot Stocks
Valeant CEO says 'well poised for turnaround in 2017' »

"Today, we announced…

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ROYT

Pacific Coast Oil

$1.94

0.02 (1.04%)

07:07
02/28/17
02/28
07:07
02/28/17
07:07
Downgrade
Pacific Coast Oil rating change  »

Pacific Coast Oil…

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