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Stock Market & Financial Investment News

News Breaks
March 20, 2013
10:03 EDTWAC, SPRD, BBRY, WAG, PLCM, ABC, SYNT, CMIOn The Fly: Analyst Upgrade SummaryWalter Investment
Today's noteworthy upgrades include: AmerisourceBergen (ABC) upgraded to Buy from Neutral at Citigroup... BlackBerry (BBRY) upgraded to Overweight from Underweight at Morgan Stanley... Cummins (CMI) upgraded to Outperform from Market Perform at William Blair... Polycom (PLCM) upgraded to Buy from Neutral at Goldman... Spreadtrum (SPRD) upgraded to Buy from Hold at Jefferies... Syntel (SYNT) upgraded to Neutral from Negative at Susquehanna... Walgreen (WAG) upgraded to Buy from Sell at Citigroup... Walter Investment (WAC) upgraded to Buy from Neutral at Sterne Agee... Walter Investment (WAC) upgraded at Sterne Agee.
News For ABC;BBRY;CMI;PLCM;SPRD;SYNT;WAG;WAC From The Last 14 Days
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February 26, 2015
07:21 EDTCMICummins signs agreement with ANSYS
ANSYS (ANSS) announced that Cummins (CMI) has signed a new agreement providing it with broad access to the ANSYS portfolio. This enterprise license agreement will enable Cummins to continue to solve some of the industry's most challenging multiphysics problems providing its customers with some of the most innovative products on the market. The multi-year agreement provides Cummins with enterprise-wide licenses to the ANSYS structures, fluids and high-frequency electromagnetics suites as well as access to high-performance computing solutions. Cummins will also receive enhanced support and services as well as unlimited classroom and online training. The new agreement complements the Cummins Analysis Led Design initiative, which emphasizes simulation early in the product design process, when it is more cost-efficient to make changes.
07:20 EDTWACWalter Investment sees reduction in HARP volumes from 2014
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07:18 EDTWACWalter Investment says current economic conditions favorable for business
The company commented, "The Servicing segment is expected to benefit from improving borrower credit quality and declining delinquency rates which generally drive a reduction in related servicing costs. In recent months we have seen an increase in MSR portfolios available for sale in the market as large depositories shed portfolios associated with non-core clients, strategic MSR sales from non-bank servicers increase and small and mid-sized originators monetize their MSR assets. The market has remained competitive for these assets though the Company anticipates pricing may improve as the significant supply of MSR is absorbed by the market during 2015. Walter Investment remains opportunistic in reviewing potential acquisitions. Active regulatory oversight of the sector continues and the company expects that in the current market participants who have scale, are appropriately capitalized, are compliant with regulatory requirements, and have significant experience and a strong track record in transferring servicing assets will be best positioned to grow their portfolios in the future. Market expectations indicate that originations volume in the United States will grow approximately 7% over 2014 to $1.2 trillion. The broader market remains challenging but has improved over the last couple of months as rates have declined, refinance activity has increased and margins have firmed. Our retention channel has benefited from an increase of "in the money" borrowers in our serviced portfolios while our correspondent lending channel has seen improved volumes. The retail channel remains competitive as purchase money volumes remain relatively light. The company's business plan for 2015 targets strong operational performance in each of its core businesses. Targets for the Servicing, ARM and Insurance businesses include growth of the serviced portfolio of approximately 10%, including additions from the Originations segment as well as a blend of bulk MSR purchases and sub-servicing and combined AEBITDA margins in the range of 14 - 18 bps, consistent with the 2014 combined AEBITDA range."
07:17 EDTWACWalter Investment reports Q4 adjusted EPS (6c), consensus 63c
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February 25, 2015
14:03 EDTBBRYBlackBerry says working with Google to enable BES12
BlackBerry Limited (BBRY) announced that it is working with Google (GOOG) to enable BES12: a cross-platform EMM solution by BlackBerry to manage devices equipped with Android for Work, Google's solution to securely separate business and personal data and applications. BES12 will provide organizations with the most secure and flexible way to manage Android for Work. Android for Work smartphones and tablets will be natively managed within the BES12 environment.
09:48 EDTBBRYIDC reports 96.3% smartphone marketshare for iPhone, Android
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07:17 EDTCMICummins management to meet with UBS
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February 24, 2015
15:18 EDTABCAmerisourceBergen completes acquisition of MWI Veterinary Supply
AmerisourceBergen (ABC) announced the completion of its acquisition of MWI Veterinary Supply (MWIV). At the effective time of the merger, all remaining shares of MWI common stock not tendered into the tender offer were converted into the right to receive $190 in cash, without interest and less any applicable withholding taxes, which is the same price that was paid in the tender offer. As a result of the transaction, MWI has become a wholly owned subsidiary of AmerisourceBergen.
07:36 EDTABCAmerisourceBergen completes tender offer for MWI Veterinary Supply shares
AmerisourceBergen Corporation (ABC) has successfully completed its tender offer to purchase all outstanding shares of MWI Veterinary Supply (MWIV) common stock for $190.00 per share in cash, without interest and less any applicable withholding taxes. The tender offer expired at 11:59 p.m., New York City time, on February 23. As of the expiration of the tender offer, 10,096,484 shares had been validly tendered and not validly withdrawn, representing approximately 78.1% of MWI's outstanding shares of common stock on a fully diluted basis. All conditions to the tender offer have been satisfied, and AmerisourceBergen has accepted for payment and will promptly pay the depositary for all validly tendered shares. AmerisourceBergen expects to complete the acquisition of MWI later today through a merger without a vote or meeting of MWI's stockholders.
05:59 EDTBBRYStocks with implied volatility movement; BBRY AAPL
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February 23, 2015
09:02 EDTBBRYVerizon to sell BlackBerry Classic for $100, CrackBerry says
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February 22, 2015
21:52 EDTABCVascular Solutions to replace MWI Veterinary Supply in S&P 600 as of 2/23 close
S&P 500 constituent AmerisourceBergen (ABC) is acquiring MWI Veterinary Supply (MWIV) in a transaction expected to be completed soon.
February 20, 2015
12:53 EDTCMICitigroup sees truck carrier stocks poised to outperform
With the U.S. economy growing quickly, the stocks of truck carriers are likely to outperform the S&P 500, Citigroup believes. WHAT'S NEW: Truck transportation prices and truck carrier stocks "respond most directly to economic growth," Citigroup analyst Christian Wetherbee wrote in a note to investors today. After carriers' truckload rates rose 4% last year, the rates should rise by a similar amount this year, Wetherbee predicted. Economic growth, along with the difficulties the carriers are experiencing with recruiting drivers, should be supportive of additional rate increases, the analyst stated. Wetherbee warned that the stocks of truck builders usually underperform during periods such as the current one, when a large amounts of U.S. class 8 trucks are being built. Consequently, truck carrier stocks present investors with an opportunity, while investors should be cautious on truck builders and parts suppliers, he wrote. Among truck carriers, Swift (SWFT) is particularly attractive, since it has underperformed its peers over the last year, Wetherbee stated. Additionally, the company's results appear likely to at least meet consensus estimates, the analyst predicted. He also kept a Buy rating on another truck carrier, Knight Transportation (KNX) and maintained a Buy rating on Cummins (CMI), which builds truck engines. The analyst kept a Hold rating on truck builder PACCAR (PCAR). OTHERS TO WATCH: Navistar (NAV) builds trucks and Celadon (CGI) is another truck carrier. PRICE ACTION: In early afternoon trading, Swift rose 1%, Knight Transportation gained 1.3%, Cummins added 0.7%, and PACCAR lost 0.5%.
06:27 EDTCMITrucking stocks likely to outperform S&P 500, says Citigroup
Citigroup says its work indicates trucking stocks respond most directly to economic growth. With the economy on a growth trajectory, Citi expects trucking stocks are likely to outperform the S&P 500. The firm reiterates Buy ratings on Swift Transportation (SWFT) and Knight Transportation (KNX), with a preference for Swift. It also has a Buy rating on Cummins (CMI) and Neutral on PACCAR (PCAR).
February 19, 2015
13:56 EDTBBRYT-Mobile in talks to resume selling BlackBerry devices, CrackBerry says
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09:32 EDTBBRYBlackBerry announces roll out of 10 OS 10.3.1
BlackBerry announced that BlackBerry 10 OS version 10.3.1 will begin rolling out globally today for in-market BlackBerry 10 devices, including the BlackBerry Passport, Z30, Z3, Z10, Q10, and Q5.
08:36 EDTSYNTSyntel sees FY15 EPS $2.70-$2.95, consensus $2.93
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08:35 EDTSYNTSyntel reports Q4 EPS 84c, consensus 70c
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05:34 EDTBBRYStocks with implied volatility below IV index mean; EXPE BBRY
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February 18, 2015
07:59 EDTBBRYBlackBerry files copyright lawsuit against Typo Products, AP says
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