Fly News Breaks for June 2, 2016
DWRE, ADBE, CRM
Jun 2, 2016 | 07:42 EDT
Citi analyst Kenneth Wong downgraded yesterday Demandware (DWRE) to Neutral saying a competing takeover bid to Salesforce's (CRM) is unlikely. The analyst believes the bidding process was competitive and that other software vendors such as Adobe (ADBE) could have been involved.
News For DWRE;CRM;ADBE From the Last 2 Days
Sep 18, 2019 | 08:58 EDT
HIGHER: CDW (CDW), up 6% after being selected to enter the S&P 500 index at open on September 23... Construction Partners (ROAD), up 2% after its 5M share secondary priced at $14.25 per share... vTv Therapeutics (VTVT), up 6% after presenting additional data from its phase 2 Simplici-T1 study in patients with type 1 diabetes at the European Association for the Study of Diabetes... NewLink Genetics (NLNK), up 7% after the FDA accepted Merck's (MRK) biologics license application and granted priority review for the investigational Ebola vaccine. The FDA's approval of this Ebola vaccine would trigger the issuance of a priority review voucher owned by Merck and in which NewLink Genetics has a substantial economic interest. Thereafter, the company would have the right to monetize its share of interest in the voucher. DOWN AFTER EARNINGS: FedEx (FDX), down 11%... Adobe (ADBE), down 3%... General Mills (GIS), down 3%. ALSO LOWER: UPS (UPS), down 2% after rival FedEx reported Q1 earnings... Zynerba (ZYNE), down 14% after announcing results from the open label Phase 2 clinical trial that assessed the safety and efficacy of Zygel in developmental and epileptic encephalopathies.
Sep 18, 2019 | 08:28 EDT
RBC Capital analyst Alex Zukin lowered his price target on Adobe to $315 after its Q3 results and reduced guidance for Digital Experience bookings, also lowering his FY20 EPS view by 31c to $9.47 while boosting its FY21 view by 3c to $11.57. The analyst still keeps his Outperform rating on the stock, stating that its Digital Media business saw "favorable performance" in the quarter and maintaining that the customer interest as well as the potential of the Adobe Experience Platform remain promising. Zukin further contends that Adobe is just starting to "flex pricing" for its Creative base, estimating the potential cadence for the platform at 3-5 percentage points of growth from pricing per year.
Sep 18, 2019 | 06:20 EDT
JPMorgan analyst Sterling Auty lowered his price target for Adobe to $318 from $329 and keeps a Neutral rating on the shares following last night's Q3 results. The digital marketing part of the business remains the "inconsistent piece" with the bookings shortfall weighing on the Q4 outlook, Auty tells investors in a research note. The analyst would like to see consistency out of this part of the business and better monetization of the Marketo acquisition before getting more constructive on the shares.
Sep 17, 2019 | 18:54 EDT
HIGHER: NewLink (NLNK) up 17.8% after FDA accepted its partnered BLA for ebola vaccine... CDW Corp (CDW) up 5.6% after entering S&P500 index... Tellurian (TELL) up 2.0% after being initiated with Outperform at Evercore... NextDecade (NEXT) up 1.9% after being initiated with Outperform at Evercore. DOWN AFTER EARNINGS: FedEx (FDX) down 9.6%, XPO Logistics (XPO) down 3.4% in symbathy... Chewy (CHWY) down 2.8%... Adobe (ADBE) down 2.6%. ALSO LOWER: Adesto Technologies (IOTS) down 8.5% after convertible debt offering... PTC Therapeutics (PTCT) down 7.7% after equity offering... Translate Bio (TBIO) down 7.6%... Acadia Pharma (ACAD) down 2.6% after equity offering. Movers as of 18:30ET.
Sep 17, 2019 | 18:45 EDT
In an interview on CNBC's Mad Money, Adobe CEO Shantanu Narayen said: We are seeing tremendous adoption to digital initiatives... The breadth of our products and customers is contributing to our success... We are focused on delivering an innovation roadmap across our three clouds.
Sep 17, 2019 | 14:21 EDT
Notable companies reporting after the market close, with earnings consensus, include Adobe (ADBE), consensus $1.97... FedEx (FDX), consensus $3.16... Chewy (CHWY), consensus (11c).