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Stock Market & Financial Investment News

News Breaks
April 22, 2013
10:20 EDTFHN, CIR, ABBV, VMI, LBAI, USG, PRGO, JCI, EADSY, BZH, VFC, NFLX, BRD, MIG, HES, EQIX, BHP, HXL, AAPL, AEM, SKX, MDCOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AbbVie (ABBV) upgraded to Overweight from Equal Weight at Morgan Stanley... BHP Billiton (BHP) upgraded to Overweight from Neutral at HSBC... Beazer Homes (BZH) upgraded to Outperform from Neutral at Credit Suisse... CIRCOR (CIR) upgraded to Buy from Hold at BB&T... EADS (EADSY) upgraded to Outperform from Sector Perform at RBC Capital... Equinix (EQIX) upgraded to Overweight from Equal Weight at Stephens... First Horizon (FHN) upgraded to Neutral from Sell at Compass Point... Hess Corp. (HES) upgraded to Overweight from Equal Weight at Barclays... Johnson Controls (JCI) upgraded to Outperform from Neutral at RW Baird... M.D.C. Holdings (MDC) upgraded to Neutral from Underperform at Credit Suisse... Meadowbrook Insurance (MIG) upgraded to Outperform at Keefe Bruyette... Perrigo (PRGO) upgraded to Overweight from Neutral at JPMorgan... Skechers (SKX) upgraded to Buy from Hold at BB&T... USG (USG) upgraded to Neutral from Underperform at Credit Suisse... Brigus Gold (BRD) upgraded to Buy from Neutral at Global Hunter... Agnico-Eagle (AEM) upgraded to Buy from Neutral at Global Hunter... Netflix (NFLX) upgraded to Neutral from Sell at B. Riley... Apple (AAPL) upgraded to Buy from Hold at BGC Partners... Lakeland Bancorp (LBAI) upgraded to Outperform from Neutral at Macquarie... VF Corp. (VFC) upgraded to Outperform from Neutral at Wedbush... Valmont (VMI) upgraded to Outperform from Neutral at Wedbush... Hexcel (HXL) upgraded to Outperform from Sector Perform at RBC Capital.
News For ABBV;BHP;BZH;CIR;EQIX;EADSY;FHN;HES;JCI;MDC;MIG;PRGO;SKX;BRD;USG;AEM;NFLX;LBAI;AAPL;VFC;VMI;HXL From The Last 14 Days
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January 25, 2016
07:07 EDTJCIJohnson Controls sees Q1 adjusted EPS 82c, vs. prior 80c-83c view
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07:06 EDTJCITyco to effect a reverse stock split prior to merger
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07:06 EDTAAPLApple volatility elevated into Q1 and outlook
Apple 1/29/16 call option implied volatility is at 57, February is at 38; compared to its 52-week range of 18 to 55, suggesting large near term price movement into the expected release of Q1 results on January 26.
07:06 EDTJCIJohnson Controls-Tyco company to deliver at least $500M in synergies
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07:04 EDTJCIJohnson Controls and Tyco enter into definitive merger agreement
Johnson Controls (JCI) and Tyco (TYC) announced that they have entered into a definitive merger agreement under which Johnson Controls will combine with Tyco to create the leader in building products and technology, integrated solutions and energy storage. Under the terms of the agreement, which has been unanimously approved by both companies' boards, Johnson Controls shareholders will own approximately 56% of the equity of the combined company and receive aggregate cash consideration of approximately $3.9B. Current Tyco shareholders will own approximately 44% of the equity of the combined company. Under the terms of the proposed transaction, the businesses of Johnson Controls and Tyco will be combined under Tyco International plc, which will be renamed "Johnson Controls plc." The companies expect that shares of the combined company will be listed on the New York Stock Exchange and trade under the "JCI" ticker. Upon the closing of the transaction, the combined company is expected to maintain Tyco's Irish legal domicile and global headquarters in Cork, Ireland. The primary operational headquarters in North America for the combined company will be in Milwaukee, where Johnson Controls has been based. Pro forma for the transaction and separation of Adient, Johnson Controls is expected to have approximately $32 billion of revenue in fiscal year 2016 and $4.5 billion of EBITDA before synergies. Adient is expected to have approximately $16.6 billion of revenue in fiscal year 2016 and $1.6 billion of EBITDA. In addition, Adient is expected to distribute between $2.5 to $3.5 billion to Johnson Controls in conjunction with the spin-off.
07:02 EDTJCIJohnson Controls and Tyco enter into definitive merger agreement
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06:52 EDTJCIOther bidders could emerge for Tyco, says JPMorgan
After the Wall Street Journal reported that Johnson Controls (JCI) is in advanced talks to acquire with Tyco (TYC), JPMorgan analyst Stephen Tusa says other bidders could emerge. United Technologies (UTX) may have interest in Tyco and could likely extract more value than Johnson from the lower tax rate, Tusa tells investors in a research note. The analyst has an Overweight rating on Tyco with a $42 price target. The stock closed Friday up 61c to $30.60.
06:44 EDTAAPLApple to release new iPhone, iPad Air 3 in 1H16, AppleInsider says
Apple is planning to launch a 4-inch iPhone as well as the iPad Air 3 in the first half of the year, AppleInsider reports, citing KGI analyst Ming-Chi Kuo. Reference Link
06:19 EDTEADSYEuro regulators to further inspect, make fixes for Airbus helicopters, WSJ says
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06:10 EDTJCIJohnson Controls volatility flat into report in merger talks to acquire Tyco
Johnson Controls (JCI) February call option implied volatility is at 36, March is at 32; compared to its 52-week average of 18 to 49, suggesting non-directional price movement into the WSJ reporting its in advanced talks to acquire Tyco International (TYC) for as much as $20B.
05:51 EDTJCI, AAPLOptions expected to be active: TYC JCI TWTR SUNE AAPL PG HAL AMZN FB
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January 24, 2016
20:21 EDTEADSY, JCIOn The Fly: Top five weekend stock stories
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Twitter (TWTR) could announce a significant executive upheaval Monday, with several product heads said to depart and a new Chief Marketing Officer reportedly stepping in. 2. Johnson Controls (JCI) and Tyco (TYC) are in advanced merger talks, according to the Wall Street Journal. 3. Airbus (EADSY) and Boeing (BA) saw mentions on the heels of Iran's aviation summit as the country eyes big orders to modernize its aging fleet after a lifting of sanctions. 4. SunEdison (SUNE) is set to give David Einhorn's Greenlight Capital a seat on its board, the Wall Street Journal reported. 5. International Paper (IP), Newell (NWL) and Houghton Mifflin (HMHC) were discussed positively by Barron's this weekend, while Chipotle (CMG) was warned against.
19:43 EDTEADSYIran says open to Boeing as Airbus order grows to 127 planes, WSJ says
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19:10 EDTAAPLDaimler CEO: Apple, Google farther along on car than assumed, Reuters says
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19:05 EDTEADSYKish Air in talks for six Airbus jets, Reuters says
Iran-based Kish Air is in talks with Airbus (EADSY) about buying six A321 jets -- with an ultimate goal of 10 -- and is also studying a potential order from Embraer (ERJ), reports Reuters, citing statements from Kish CEO Sadat Akhav. Reference Link
16:46 EDTEADSYIran Air chairman says carrier will need 20 regional jets, Bloomberg reports
Iran Air will need to add 20 regional jets following the country's sanctions lift, reports Bloomberg, citing statements by chairman Farhad Parvaresh. Bombardier (BDRBF) has already made a presentation to the carrier, the report said, with Parvaresh commenting, "Our plan is to have both Boeing (BA) and Airbus (EADSY) because in the past we operated both, but that doesn't mean that if another company approaches we'll say 'no'." Reference Link
16:38 EDTEADSYFlynas in talks for up to 100 new aircraft, Bloomberg says
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15:27 EDTAAPLHead of Apple's car project stepping down, Bloomberg says
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13:17 EDTJCIJohnson Controls in advanced talks to combine with Tyco, WSJ says
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11:02 EDTNFLXStocks post weekly gain after oil rebounds
Stocks recovered late in the week to post their first weekly gain of the new year as equities continue to be correlated closely with the oil market. A plunge in oil led equities lower early in the holiday shortened week, but as oil prices rebounded to close the week out, the major averages followed suit. MACRO NEWS: In the U.S., the consumer price index fell 0.1% during December, versus expectations for a flat reading. The core reading, which excludes food and energy, showed prices rose 0.1% from the prior month, versus expectations for an increase of 0.2%. Initial jobless claims rose to 293,000 last week, topping the expectation for 278,000 first-time claims. Markit's flash manufacturing Purchasing Managers' Index for January rose 1.5 points to 52.7, better than the 51.0 reading that was expected. Existing home sales climbed 14.7% to a 5.46M rate in December, topping the 5.2M rate that was forecast... In Asia, China's national bureau of statistics estimated that GDP growth slowed to 6.8% in the last quarter of the year, dipping from 6.9% growth in the previous quarter. China's industrial output rose 5.9% from a year earlier in December, compared with the consensus forecast for a 6% increase. Japan's Nikkei average was down early in the week, even falling into bear market territory, but rallied nearly 6% on Friday after the Nikkei Asian Review said that the Bank of Japan is taking a "serious look" at additional easing... In Europe, the European Central Bank left its key interest rates unchanged. However, at an associated press conference, ECB President Mario Draghi acknowledged downside risks were increasing again, meaning the bank may need to "review and possibly reconsider" its monetary policy stance at its next meeting in March. Markit's flash PMI for the euro zone slid to an 11-month low of 53.5, missing expectations for a more modest dip to a 54.2 reading. The International Monetary Fund cut its global growth forecasts for the third time in less than a year. The IMF now estimates that the world economy will grow 3.4% this year and 3.6% next year, down from its prior forecasts of 3.6% and 3.8% growth, respectively. COMPANY NEWS: On Tuesday, Morgan Stanley (MS) advanced 1% after its earnings and revenue topped analysts' consensus forecast. Big bank peer Bank of America (BAC) slid 1% after its earnings also beat expectations but its revenue narrowly missed the consensus estimate... On Wednesday, IBM (IBM) slid nearly 5% after reporting better than expected earnings and revenue for the fourth quarter, but forecasting below-consensus profits for the new year... On Thursday, Verizon (VZ) was among the best performers on the Dow, advancing over 3% after its earnings, revenue and wireless subscriber additions all topped expectations. Conversely, fellow Dow member Travelers (TRV) slid almost 1% after releasing its own quarterly results... On Friday, American Express (AXP) sunk more than 12% after the card issuer reported stronger than expected quarterly results but its 2017 profit guidance came in below the consensus outlook. The company's pledge to take out $1B in costs by the end of 2017 did little to change the mood of analysts or investors. Fellow Dow member GE (GE) slid a bit more than 1% after reporting better than expected earnings but lower than expected quarterly revenue... Schlumberger (SLB) shares gained 6% after the oil services giant reported earnings that topped expectations, approved a quarterly dividend of 50c per share and a new share repurchase program of $10B and said it plans to cut 10,000 more jobs... Netflix (NFLX) reported fourth quarter earnings that beat analyst estimates, powered by better than expected international subscriber growth. The numbers were met with positive commentary by several research firms, though decelerating U.S. subscriber growth was highlighted by bears as a warning sign for the company... Deutsche Bank (DB) disclosed that it expects a EUR2.1B net loss for the quarter due to a number of charges, including expected litigation costs of EUR1.2B... Xilinx (XLNX) advanced after reporting its third quarter numbers. The news may have been overshadowed, however, by a regulatory filing showing new agreements with its top executives, with several analysts highlighting that the change could signal a takeover is in the cards in the future... Alkermes (ALKS) plunged more than 44% after disclosing that two of three Phase 3 studies of its experimental depression disorder treatment did not meet their primary efficacy endpoints. INDEXES: For the four-day week, the Dow gained about 0.67% to close at 16,093.51, the S&P 500 rose about 1.4% to close at 1,906.90, and the Nasdaq increased about 2.3% to close at 4,591.18.
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