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Stock Market & Financial Investment News

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July 10, 2014
10:05 EDTAA, TI, TCB, HOT, SIVB, PVTB, MLM, MRC, MBFI, IBDRY, HFC, HEINY, CWH, CMA, ADSK, MDRX, TSCOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Alcoa (AA) upgraded to Overweight from Equal Weight at Morgan Stanley... Allscripts (MDRX) upgraded at ISI Group... Autodesk (ADSK) assumed with an Overweight from Equal Weight at Barclays... Comerica (CMA) upgraded to Buy from Neutral at Guggenheim... CommonWealth REIT (CWH) upgraded to Buy from Hold at Stifel... Heineken (HEINY) upgraded to Neutral from Underperform at Credit Suisse... HollyFrontier (HFC) upgraded to Neutral from Underperform at Macquarie... Iberdrola (IBDRY) upgraded to Outperform from Neutral at Credit Suisse... MB Financial (MBFI) upgraded to Buy from Neutral at Sterne Agee... MRC Global (MRC) upgraded to Neutral from Underperform at BofA/Merrill... Martin Marietta (MLM) upgraded to Conviction Buy from Buy at Goldman... PrivateBancorp (PVTB) upgraded to Buy from Neutral at Sterne Agee... SVB Financial (SIVB) upgraded to Buy from Hold at Sandler O'Neill... Starwood (HOT) upgraded to Buy from Hold at MLV & Co.... TCF Financial (TCB) upgraded to Buy from Neutral at Sterne Agee... Telecom Italia (TI) upgraded to Overweight from Neutral at JPMorgan... Tractor Supply (TSCO) upgraded to Outperform from Neutral at Credit Suisse.
News For AA;MDRX;ADSK;CMA;CWH;HEINY;HFC;IBDRY;MBFI;MRC;MLM;PVTB;SIVB;HOT;TCB;TI;TSCO From The Last 14 Days
Check below for free stories on AA;MDRX;ADSK;CMA;CWH;HEINY;HFC;IBDRY;MBFI;MRC;MLM;PVTB;SIVB;HOT;TCB;TI;TSCO the last two weeks.
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August 28, 2014
06:23 EDTTITelefonica submits new offer for Vivendi GVT unit
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06:10 EDTTITelecom Italia revises offer for Vivendi's GVT to EUR7B
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August 27, 2014
09:38 EDTTITelefonica to contemplate improving GVT offer, WSJ says
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07:45 EDTCMASterne Agee to hold a tour
Texas Bank Tour travels throughout Dallas visiting various banks on August 27-29.
August 26, 2014
16:32 EDTHOTStarwood appoints Thomas Mangas as CFO
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15:52 EDTTITelecom Italia to offer Vivendi $9.2B for GVT unit, Reuters says
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10:24 EDTAAAlcoa volatility low as aluminum trades at 18-month high
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06:36 EDTTITelefonica board mulls increasing GVT offer, Bloomberg says
Telefonica's (TEF) board is aiming to talk about increasing its bid for Vivendi's (VIVHY) GVT division, and could potentially value the business at nearly $10.6B, according to Bloomberg, citing a person with knowledge of the matter. The source noted that the raised offer might be presented prior to Vivendi's upcoming board meeting in two days and before Telecom Italia (TI) finalizes a competitive bid. Reference Link
August 25, 2014
16:38 EDTMBFIMB Financial raises quarterly dividend to 14c from 12c per share
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14:56 EDTSIVBSVB Financial management to meet with SunTrust
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08:31 EDTAAAlcoa to close Portovesme smelter in Italy
Alcoa announced that it intends to permanently close its Portovesme primary aluminum smelter, which has been curtailed since November 2012. The closure will reduce Alcoa’s global smelting capacity by 150,000 metric tons to 3.6 million metric tons per year. The Portovesme smelter was curtailed in 2012 because it was one of the highest cost smelters in the Alcoa system and had limited prospects for becoming competitive. “The fundamental reasons that made the Portovesme smelter uncompetitive unfortunately have not changed,” said Bob Wilt, President, Alcoa Global Primary Products. “We will continue to meet the commitments made to our employees and our stakeholders, acting in good faith as we have always done.” As committed to the government and unions, Alcoa has provided financial social support, along with outplacement and re-employment services for employees. The closure is aligned with Alcoa’s strategy to create a globally competitive commodity business and lower its position on the world aluminum production cost curve to the 38th percentile by 2016. Total restructuring-related charges for third quarter 2014 as a result of the closure are expected to be between $170M-$180M after-tax, or between 14c-15c per share, of which approximately 60% is non-cash.
August 20, 2014
07:51 EDTMDRXAllscripts has reached attractive entry point, says RBC Capital
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August 19, 2014
16:00 EDTAAOptions Update; August 19, 2014eBay
iPath S&P 500 VIX Short-Term Futures down 28c to 27.52. Option volume leaders: AAPL C HD PBR GILD AA NFLX TWTR TSLA EBAY according to Track Data.
13:21 EDTTSCOEarnings Preview: Lowe's trading higher ahead of Q2 earnings report
Lowe's Companies (LOW), a home improvement retailer, is scheduled to report on its second quarter before the market open on Wednesday, August 20, with a conference call scheduled for 9:00 am ET. EXPECTATIONS: Analysts are looking for earnings per share of $1.02 on revenue of $16.55B, according to First Call. The consensus range for EPS is 96c-$1.06 on revenue of $16.16B-$16.79B. LAST QUARTER: Lowe's reported first quarter EPS of 61c, beating analyst's estimates of 60c, on revenue of $13.4B against estimates for $13.86B. The company also reported Q1 same-store sales rose 0.9%. Lowe's raised its fiscal year 2014 EPS guidance to approximately $2.63 from $2.60 against estimates at that time for $2.62 and said it expects revenue up 5% in this fiscal year compared to last. Lowe's said it expected to open 10 home improvement and 5 hardware stores in 2014 and expects its FY14 SSS to increase approximately 4%. The company expects to repurchase $3.4B of stock this fiscal year. NEWS: During the quarter, Lowe's named Paul Ramsay as Chief Information Officer. The company also raised its quarterly dividend 27.8% to 23c per share. STREET RESEARCH: Deutsche Bank lowered its estimates for both Lowe's and Home Depot (HD) after Tractor Supply (TSCO) and Lumber Liquidators (LL) pre-announced Q2 comp misses. The firm, which noted that the negative earnings revision is "relatively minor," said that while the business models are different, Tractor Supply and Lumber Liquidators have historically correlated positively with Home Depot and Lowe's on comps. Morgan Stanley initiated Lowe's with an Equal Weight rating and $50 target in June. Canaccord downgraded Lowe's to Sell from Hold due to slowing housing momentum, management changes, and difficult competition. PRICE ACTION: Over the last three months, Lowe's shares are up almost 14%. In morning trading ahead of tomorrow's report, Lowe's is up nearly 3% to $51.89.
06:26 EDTTITelecom Italia board plans meeting to discuss GVT bid, Reuters says
Telecom Italia (TI) is poised to have a board meeting sometime next week to talk about making a takeover bid for Vivendi's (VIVHY) GVT division, according to Reuters, citing a source close to the matter. The source said, "Certainly nothing will happen this week," but explained that the meeting was likely to occur on August 27. Reference Link
August 18, 2014
13:32 EDTTITelefonica adds content deal in bid for Vivendi GVT unit, Reuters says
Telefonica (TEF) has added to its bid for Vivendi's (VIVHY) Brazilian broadband telecoms business, GVT, by offering Vivendi a television content-sharing deal, says Reuters. The content-sharing deal offered by Telefonica brings its total offer to approximately $9.4B which is in-line with what Telecom Italia (TI) may counter bid for GVT, added Reuters. Reference Link
11:25 EDTTSCOEarnings Preview: Home Depot shares up nearly 9% since last earnings report
Home Depot (HD), a home improvement retailer, is scheduled to report second quarter results before the market opens on Tuesday, August 19, with a conference call scheduled for 9:00 am ET. EXPECTATIONS: Analysts are looking for earnings per share of $1.45 on revenue of $23.62B, according to First Call. The consensus range for EPS is $1.41-$1.49 on revenue of $22.9B-$24.08B. LAST QUARTER: Home Depot reported first quarter EPS of $1.00 against estimates for 99c on revenue of $19.69B against estimates of $19.95B. The company said same-store sales increased 2.6%, with U.S. SSS up 3.3%. The company raised its fiscal year 2014 EPS view to $4.42 from $4.38 against estimates at that time for $4.42. The retailer also backed its FY14 sales growth view of up 4.8% from fiscal year 2013. On its Q4 earnings conference call, Home Depot forecast gross margins for FY14 would be "about the same" as last year. For the remainder of the year, the company said its view on the housing market recovery had not changed. NEWS: At Oppenheimer's 14th Annual Consumer Conference in June, Home Depot reaffirmed its 4.8% sales growth view for the year and said SSS growth would be 4.6%. The company also said it expected $7B in share repurchases for FY14. The retailer also said it intends to increase its dividend every year. The Wall Street Journal said Home Depot is among the retailers betting that consumer basics, like toilet paper or detergent, will increase sales and lure shoppers into stores. STREET RESEARCH: Citigroup expects Home Depot shares will continue outperforming Lowe's (LOW) in the near-term given its store base concentration and better merchandising effort on the Pro side. Deutsche Bank lowered its estimates for both Home Depot after Tractor Supply (TSCO) and Lumber Liquidators (LL) pre-announced Q2 comp misses. The firm, which noted that the negative earnings revision is "relatively minor," said that while the business models are different, Tractor Supply and Lumber Liquidators have historically correlated positively with Home Depot and Lowe's on comps. PRICE ACTION: Over the last three months, Home Depot shares are up almost 9%. Year-to-date, shares are up over 2%.
08:03 EDTMLMMartin Marietta completes divestures required by DOJ
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08:02 EDTMBFIMB Financial completes acquisition of Taylor Capital
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August 17, 2014
13:51 EDTTITelecom Italia looks to outbid rival for Vivendi's GVT unit, Bloomberg says
Telecom Italia (TI) is preparing to outbid Telefonica (TEF) and offer as much as $9.4B for Vivendi’s (VIVHY) Brazilian broadband unit GVT, says Bloomberg. Reference Link
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