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Investor's Alert: Foamix Pharmaceuticals Ltd (NASDAQ:FOMX), AES Corp (NYSE:AES), Jinpan International Limited (NASDAQ:JST)

Investor's Alert: Foamix Pharmaceuticals Ltd (NASDAQ:FOMX), AES Corp (NYSE:AES), Jinpan International Limited (NASDAQ:JST)
Written by
Joel Najarian
Published on
October 13, 2014
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Shares of Foamix Pharmaceuticals Ltd (NASDAQ:FOMX) jumped Monday, after Barclays analysts initiated coverage on the clinical-stage pharmaceutical company's stock with an overweight investment rating and a price target of $11 a share. The price target is more than double the stock's Friday closing price of $5.08 per share. Foamix Pharmaceuticals Ltd (NASDAQ:FOMX) was up 9.2% at $5.55 in recent trading shortly after the open. Since their public debut last month, the shares have traded in a range of $4.75 to $11. The stock's Monday gain also came as Oppenheimer initiated coverage with an outperform rating and a price target of $15 a share.AES Corp (NYSE:AES) has agreed to sell its 49.62% equity interest in AES Entek Elektrik Uretimi, a joint venture in Turkey, to its partners for $125 million in equity proceeds. AES Corp (NYSE:AES) will sell the portfolio interest to KOC HOLDING and AYGAZ. The sale represents 100% of AES' interest in assets in Turkey, consisting of 364 MW of operating natural gas and hydroelectric facilities and its interest in a coal-fired development project, to AES. The deal is expected to close by Q1 2015."With the sale of our Turkish assets, we will have exited nine countries and received proceeds of $2.4 billion from asset sales over the past three years," said Andres Gluski, AES President and Chief Executive Officer. "In line with our strategy, we have focused on simplifying our portfolio and exiting those markets where we do not have a sustainable competitive advantage." Shares of AES are at $13.25 within a 52-week range of $13.22 - $15.65.Jinpan International Limited (NASDAQ:JST) says it expects Q3 sales of approximately $62 million and net income is expected to be approximately $3.8 million, or $0.23 per share. FY revenue is now expected to increase 0% to 3% from the previous year to a range of $226 million and $233 million and net income is expected to increase 0% to 3% to a range of $16.5 million and $17.0 million, or $0.99 to $1.02 per share. This earnings guidance excludes expenses associated with the proposed going private transaction. Previous full year guidance was for revenue between $248 million and $260 million and net income between $18.2 million and $19.1 million, or $1.09 and $1.14 per share. It blamed the downward revisions to a general slowdown in China's economy, which has caused delays in some of its customers' projects, particularly in August and September. Jinpan International Limited (NASDAQ:JST) is trading between a 52-week range of $5.91-9.90.

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