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Stock Market & Financial Investment News

News Breaks
October 26, 2012
10:00 EDTACAT, OI, HBAN, AB, LAZ, TGT, STEL, EXPE, PG, PSX, MYL, CMEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AllianceBernstein (AB) upgraded to Equal Weight from Underweight at Morgan Stanley... CME Group (CME) upgraded to Outperform from Market Perform at Raymond James... Expedia (EXPE) upgraded to Buy from Hold at Benchmark Co.... Expedia (EXPE) upgraded to Outperform from Market Perform at Raymond James... Huntington Bancshares (HBAN) upgraded to Buy from Neutral at Citigroup... Mylan (MYL) upgraded to Buy from Hold at Canaccord... StellarOne (STEL) upgraded to Strong Buy from Outperform at Raymond James... Owens-Illinois (OI) upgraded to Buy from Neutral at BofA/Merrill... Phillips 66 (PSX) upgraded to Outperform from Neutral at Credit Suisse... Target (TGT) upgraded to Buy from Neutral at Buckingham... Arctic Cat (ACAT) upgraded to Strong Buy from Buy at Felti... Proctor and Gamble (PG) upgraded to Outperform from Underperform at CLSA... Lazard (LAZ) upgraded to Neutral from Sell at Rochdale.
News For AB;CME;EXPE;HBAN;MYL;STEL;OI;PSX;TGT;ACAT;PG;LAZ From The Last 14 Days
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January 15, 2015
10:35 EDTTGTTarget viewed unchanged after Canada exit, says RW Baird
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10:22 EDTTGTTarget rallies after moving to close Canadian operations, levels to watch
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10:12 EDTTGTTarget to host business news update conference call
Conference call to discuss Target Canada granted CCAA order will be held on January 15 at 11:30am. Webcast Link
10:04 EDTTGTTarget exit from Canada came sooner than expected, says Wells Fargo
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09:46 EDTTGTTarget Canada granted CCAA order
Target announced that Target Canada has obtained an Initial Order from the Ontario Superior Court of Justice for creditor protection under the Companies' Creditors Arrangement Act, or CCAA, earlier this morning. The Initial Order authorizes Target Canada to begin a court-supervised wind-down of its Canadian businesses. It also provides for a broad stay of proceedings against Target Canada and authorizes Target to provide a debtor-in-possession credit facility of $175M to finance Target Canada’s operations during the CCAA proceedings. Note that Target announced earlier that it has decided to discontinue operations in Canada.
09:15 EDTTGTOn The Fly: Pre-market Movers
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08:41 EDTTGTTarget raises Q4 adjusted EPS view to $1.43-$1.47, may not compare to $1.21
Based on performance through November and December, Target now expects to report Q4 U.S. comparable sales of approximately 3%, better than prior guidance of approximately 2%, driven primarily by increased traffic and stronger-than-expected digital sales. Sees Q4 adjusted EPS, reflecting results from continuing operations, of $1.43-$1.47, about 6c ahead of expectations for U.S. Segment performance at the beginning of the quarter. The company is not able to provide an estimate of its expected Q4 GAAP EPS. However, GAAP results are expected to include: Losses related to liquidation of Target Canada,net of taxes; Net expenses related to the 2013 data breach, which are not expected to be material; the impact of the reduction of the beneficial interest asset recognized in connection with the 2013 sale of the company’s credit card portfolio, which is expected to reduce GAAP EPS by approximately 2c.
08:34 EDTCMECME Group, GFI Group announce revised offer for GFI stockholders to $5.60/share
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08:28 EDTTGTTarget to report Canadian operations as discontinued starting in Q4
As a result of the Canada decision, Target Corporation will operate as a single segment that includes all U.S. operations. Beginning with the company’s Q4 financial results, Target will report adjusted earnings per share reflecting operating results from its U.S. operations, excluding discontinued Canadian operations, the impact of the reduction of the beneficial interest asset recognized in connection with the 2013 sale of the Company’s U.S. consumer credit card portfolio, net expenses related to the 2013 data breach, and the resolution of certain tax matters.
08:27 EDTTGTTarget to exit Canadian operations, sees move raising earnings in FY15 and after
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08:24 EDTTGTTarget volatility flat into discontinuation of Canadian operations
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08:23 EDTTGTTarget jumps after announcing plans to exit Canadian operations
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08:21 EDTTGTTarget sees reporting $5.4B pre-tax losses on discontinued operations in Q4
08:19 EDTTGTTarget to discontinue Canadian operations
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07:20 EDTCMENASDAQ may enter energy derivatives market, Reuters reports
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January 14, 2015
08:57 EDTABAllianceBernstein reports December AUM down 1.5% to $474B
AllianceBernstein reported preliminary assets under management decreased to $474B during December from $481B at the end of November. The 1.5% decrease was due to market depreciation and net outflows during the month across all three distribution channels.
06:09 EDTCMEBGC announces contingent increase of offer to acquire GFI to $5.60 per share
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06:05 EDTCMEBGC announces contingent increase of offer to acquire GFI to $5.60 per share
January 13, 2015
15:05 EDTCMEBGC Partners increases GFI Group takeover offer to $5.60 per share
BGC Partners (BGCP) disclosed in a regulatory filing that the company delivered to GFI Group (GFIG) an offer letter, dated January 13. As previously disclosed, BGC has engaged in good-faith discussions with the GFI special committee of the GFI board for more than three months, and, in the course of those discussions, BGC believes that it has resolved and addressed each and every meaningful issue raised by the special committee. The executed offer letter and tender offer agreement are the results of those discussions, and, therefore, BGC believes that their terms constitute a “Superior Proposal” under the agreement and plan of merger, dated as of July 30, 2014 and amended on December 2, 2014, by and among GFI, CME Group (CME), Commodore Acquisition and a wholly owned CME subsidiary. The tender offer agreement provides that, once executed by GFI in accordance with the terms of the offer letter, BGC will amend its existing tender offer to purchase all of GFI’s issued and outstanding shares, so that the offer price will be increased to $5.60 per share payable net to the seller in cash, without interest. The tender offer agreement also provides that BGC will advance up to $61M to GFI in order to pay any termination fee payable to CME under the CME merger agreement, if any, fees and expenses incurred in connection with the negotiation and preparation of the tender offer CME agreement and up to $15M of borrowings under GFI’s credit agreement.
January 12, 2015
07:17 EDTMYLJPMorgan to hold a conference
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