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Stock Market & Financial Investment News

News Breaks
August 16, 2013
10:08 EDTVLTR, CL, RRGB, NOR, AA, RIG, STM, PT, GIS, MXIM, DANG, INO, JWN, AVOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Alcoa (AA) downgraded to Underperform from Neutral at BofA/Merrill... Aviva (AV) downgraded to Neutral from Outperform at Exane BNP Paribas... General Mills (GIS) downgraded to Underperform from Hold at Jefferies... Noble Energy (NBL) downgraded to Buy from Strong Buy at ISI Group... Noranda Aluminum (NOR) downgraded to Underperform from Neutral at BofA/Merrill... Nordstrom (JWN) downgraded to Neutral from Buy at Sterne Agee... Portugal Telecom (PT) downgraded to Neutral from Buy at Goldman... Red Robin (RRGB) downgraded to Neutral from Buy at B. Riley... STMicroelectronics (STM) downgraded to Underweight from Neutral at HSBC... Inovio (INO) downgraded to Hold from Buy at Aegis... Colgate-Palmolive (CL) downgraded to Hold from Buy at Argus... Dangdang (DANG) downgraded to Equal Weight from Overweight at Morgan Stanley... Noble Energy (NBL) downgraded at ISI Group... Transocean (RIG) downgraded to Underweight from Overweight at Johnson Rice... Volterra (VLTR) downgraded to Sell from Neutral at B. Riley... Maxim Integrated (MXIM) downgraded to Equal Weight from Overweight at Morgan Stanley.
News For AA;AV;GIS;NOR;JWN;PT;RRGB;INO;STM;CL;DANG;RIG;VLTR;MXIM From The Last 14 Days
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June 30, 2015
08:34 EDTAAAlcoa to close Pocos smelter in Brazil
Alcoa announced that it will permanently close its Poços de Caldas primary aluminum smelter in Brazil on June 30, 2015. The smelter has been curtailed since May 2014 and the underlying market conditions that led to the curtailment have not improved. “The closure of the Poços smelter permanently removes a high-cost smelting facility from the Alcoa system and is another step in creating a more profitable Primary Metals business,” said Alcoa Global Primary Products President Bob Wilt. Once the Poços smelter is closed, Alcoa’s total global smelting capacity will be reduced by 96,000 metric tons, to 3.4 million metric tons. The Poços mine, refinery, aluminum powder plant and casthouse will continue normal operations. As a result of the closure, Alcoa expects to record restructuring-related charges in second quarter 2015 between $100M-$110M after-tax, or 8c-9c per share, of which approximately 60 percent is non-cash.
June 29, 2015
11:29 EDTRIGStocks with call strike movement; RIG BABA
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09:04 EDTAAAlcoa estimates cut due to low regional premiums at Morgan Stanley
Morgan Stanley lowered Alcoa 2015-17 EBITDA estimates to reflect declines in regional premiums. The firm lowered Q2 EPS to 21c from 22, below consensus of 23c, but sees drivers in place for a 2H recovery in shares. Morgan Stanley said all-in aluminum prices, including regional premiums, are near six year lows, and expects upstream performance to near a trough at current prices, and for earnings to bottom in Q3. The firm rates shares an Overweight with a lowered price target of $16.
07:40 EDTAAAlcoa estimates lowered below consensus at Stifel
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June 26, 2015
16:00 EDTRIGOptions Update; June 26, 2015
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11:56 EDTRIGStocks with call strike movement; RIG AMD
Transocean (RIG) November 20 call option implied volatility increased 2% to 43, AMD (AMD) October 3 call option implied volatility decreased 1% to 52 according to IVolatility.
08:44 EDTRRGBRed Robin Q2 comp growth better than expected at Longbow
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06:33 EDTGISMcDonald’s says child customers drinking less soda, eating more fruit
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June 25, 2015
09:37 EDTGISGeneral Mills expects to eliminate 675-725 positions in restructuring plan
In a regulatory filing, General Mills disclosed that it plans to eliminate 675-725 positions. In the first quarter, General Mills approved Project Compass, a restructuring plan designed to enable our International segment to accelerate long-term growth through increased organizational effectiveness and reduced administrative expense. In connection with this initiative, the company expects to eliminate approximately 675 to 725 positions. The company will record total restructuring charges of approximately $57M-$62M pre-tax, primarily reflecting one-time employee termination benefits, of which approximately $54M-$57M will be recorded in the first quarter of fiscal 2016. The company expects approximately $54M-$59M of the total expense will result in future cash expenditures. These restructuring actions are expected to be completed by early fiscal 2017. The company expects that these actions will generate annual cost savings of approximately $45M-$50M, with approximately $25M-$30M of cost savings being realized in fiscal 2016.
07:55 EDTGISGeneral Mills volatility low into Q4 and outlook
General Mills July and August option implied volatility is at 15; compared to its 52-week range of 12 to 23, suggesting non-directional price movement into the expected release of Q4 release on July 1.
June 24, 2015
08:18 EDTAAAlcoa volatility flat into Q2 and outlook
Alcoa July call option implied volatility is at 28, August is at 26, October is 27; compared to its 52-week range of 23 to 48, suggesting non-directional price movement into the expected release of Q2 results after the market close on July 8.
07:19 EDTRIGU.K. panel to decide on first fracking in area since 2011, WSJ reports
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June 22, 2015
15:21 EDTAAAlcoa slides after analyst downgrades shares due to lack of catalysts
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10:00 EDTSTMOn The Fly: Analyst Upgrade Summary
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10:00 EDTAAOn The Fly: Analyst Downgrade Summary
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09:20 EDTGISGeneral Mills Cereals to remove artificial flavors and colors
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08:16 EDTAAAlcoa downgraded on lack of catalysts, risk/reward at Sterne Agee CRT
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06:24 EDTAAAlcoa downgraded to Neutral from Buy at Sterne Agee CRT
06:08 EDTSTMSTMicroelectronics upgraded to Equal Weight from Underweight at Barclays
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June 21, 2015
14:25 EDTRIGTransocean shares look cheap, Barron's says
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