Quick Bytes Fri, June 17: SWHC, BMRN, OIL, FMCC, FNMA

A quick digest of what’s hot and trending for Friday, June 17th. Here are your quick news bytes (yes we know it is bites) to get you caught up quickly with some interesting reads:

  1. Smith & Wesson Holding Corp(NASDAQ:SWHC) receives an upgrade from Cowen and Craig Hallum to Outperform and Buy, respectively. Cowen has a price target of $25. Smith & Wesson had a strong earnings report earlier in the week and issued very upbeat guidance.  (SeekingAlpha)
  2. BioMarin Pharmaceutical Inc.(NASDAQ:BMRN) is up 5 percent as rumors swirl that SNY may be mulling a takeover. (SeekingAlpha)
  3. Casino workers in Atlantic City authorize a strike after several months of stalled negotiations. (BYD,MGM, CZR) (SeekingAlpha)
  4. Daniel Jones on SeekingAlpha talks about how Oil Demand is showing robust growth, despite Oil prices falling recently. He notes supplies are dropping nicely but suspect the story for higher demand will continue and that is the most attractive piece of news to him. (SeekingAlpha)
  5. Glen Bradford writes that the Post Oral Arguments demonstrate value in Federal National Mortgage Assctn Fnni Me(OTCMKTS:FNMA) and Federal Home Loan Mortgage Corp(OTCMKTS:FMCC)‘s Equity Securities, noting that the latest government filing ignores the government’s forecast of $151.5 billion in profits across the decade beginning in 2016. He also notes that the latest legal filing exposes several other potential lies made by defendants against the GSE. (SeekingAlpha)
  6. RBC Capital cut Apple Inc. (NASDAQ:AAPL) estimates after changing assumptions for a longer replacement cycle. (StreetInsider)
  7. JP Morgan sees strong earnings growth for Apple Inc. (NASDAQ:AAPL) and believes Apple will continue to post upbeat gains. Analyst Rod Hall raised his average selling price for iPhone estimates for FY16 and FY17 to $659 and $646 respectively. JP Morgan reiterated an Overweight rating but lowered the price target from $125 to $105 (BidnessEtc)

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