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Stock Market & Financial Investment News

News Breaks
January 10, 2013
10:13 EDTCGV, AMT, WYNN, R, DAL, ALKS, MKL, TCO, NWSA, CS, CCI, MO, SNCR, EVR, ACEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ACE Ltd. (ACE) upgraded to Outperform from Market Perform at Wells Fargo... Alkermes (ALKS) upgraded to Overweight from Equal Weight at Morgan Stanley... CGG Veritas (CGV) upgraded to Neutral from Sell at Citigroup... Credit Suisse (CS) upgraded to Buy from Neutral at Nomura... Delta Air Lines (DAL) upgraded to Buy from Sell at Goldman... Evercore Partners (EVR) upgraded to Buy from Neutral at Goldman... News Corp. (NWSA) upgraded to Outperform from Market Perform at Bernstein... Ryder (R) upgraded to Buy from Neutral at Goldman... Synchronoss (SNCR) upgraded to Outperform from Market Perform at Wells Fargo... Taubman Centers (TCO) upgraded to Overweight from Equal Weight at Evercore... Wynn Resorts (WYNN) upgraded to Buy from Neutral at Lazard Capital... Altria Group (MO) upgraded to Buy from Hold at Stifel Nicolaus... Markel (MKL) upgraded to Neutral from Underperform at Macquarie... American Tower (AMT) upgraded to Overweight from Equal Weight at Evercore... Crown Castle (CCI) upgraded to Overweight from Equal Weight at Evercore.
News For ACE;ALKS;CGV;CS;DAL;EVR;NWSA;R;SNCR;TCO;WYNN;MO;MKL;AMT;CCI From The Last 14 Days
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May 15, 2015
05:43 EDTWYNNWynn Resorts downgraded to Equal Weight from Overweight at Barclays
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May 14, 2015
08:34 EDTCCICrown Castle to sell Australian subsidiary for about $1.6B in cash
Crown Castle International announced that it has signed a definitive agreement to sell its Australian subsidiary, CCAL, to a consortium of investors led by Macquarie Infrastructure and Real Assets for an aggregate purchase price of approximately $2.B in cash, or approximately $1.6B assuming an exchange rate of 0.80 U.S. dollars to 1.0 Australian dollar. CCAL is 77.6% owned by Crown Castle. Upon consummation of the Transaction, Crown Castle expects to receive net proceeds of approximately $1.3B after accounting for its ownership interest, repayment of intercompany debt owed to it by CCAL and estimated transaction fees and expenses. The Transaction is expected to close during Q2. Crown Castle expects to use the net proceeds from the Transaction to finance its previously announced acquisition of Sunesys and for general corporate purposes, including the repayment of certain of its indebtedness. CCAL was expected to contribute approximately $97M-$102M to Crown Castle's previously provided full year 2015 Outlook for Adjusted EBITDA of $2.15B-$2.16B. Further, CCAL was expected to contribute approximately $58M-$63M to Crown Castle’s previously provided FY15 Outlook for Adjusted Funds from Operations of $1.45B-$1.47B, respectively.
06:14 EDTDALQatar Airways CEO accuse US airlines of using 'bullying tactics', Bloomberg says
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May 13, 2015
19:42 EDTDALDelta Air Lines shares can rise 50%, Barron's says
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12:42 EDTAMT, CCIAnalyst bullish on tower companies after meeting with American Tower
American Tower's (AMT) outlook has improved, and it should report strong 2016 results, research firm Pacific Crest wrote in a note to investors earlier today. American Tower owns towers used by cell phone carriers. WHAT'S NEW: After hosting a non-deal roadshow with American Tower, Pacific Crest analyst Michael Bowen said he had an "increasingly positive outlook" on the company in particular and the cell phone tower sector in general. Carrier tower applications rose last quarter, versus the second half of 2014, Bowen quoted American Tower and its peers as saying. This increase appears to bode well for the sector's performance in the second half of 2015 and 2016, according to Bowen, who expects American Tower to have strong 2016 results. The analyst predicts that American Tower's adjusted funds from operations, or AFFO, will increase about 9% in 2015 and 10.6% in 2016. However, the company estimated that its AFFO growth "could approach" mid-teen percentage levels if it decides not to acquire any more towers, according to Bowen. Additionally, American Tower reported that it believes it can eventually more than double the nearly 18,000 towers it owns in Brazil, Bowen reported. The analyst recommended that investors buy the stock. PRICE ACTION: In early afternoon trading, American Tower was flat at $93.56. Other tower owners were also little changed, as Crown Castle (CCI) was flat at $83, and SBA Communications (SBAC) added 0.7% to $116.21.
12:39 EDTDALOn The Fly: Top stock stories at midday
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09:56 EDTDALEquity options with increasing volume
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09:50 EDTDALDelta Air Lines rallies after boosting dividend, buyback program
Shares are up over 3.5% to $47.72 at time of writing. At that price next resistance is at $49.19. Support is at $47.28.
09:34 EDTDALDelta Air Lines raises 2015-2017 EPS growth outlook to 15%-plus
Delta Air Lines in presentation slides raised its 2015-2017 earnings growth outlook to 15%-plus from 10%-15%. Delta raised its 2015-2017 operating margin guidance to 14%-16% from 11%-14%. It sees return on invested capital 20%-25% versus a prior outlook of 15%-18%. The airliner also raised its operating cash flow outlook to $7B-$8B from $6B. "Strong progress drives the third upward revision to our targets in three years," Delta said in the slides. It added, "Strong operating cash flow, combined with disciplined capital spending, produces sustainable free cash flow of $4-5 billion annually."
09:21 EDTDALOn The Fly: Pre-market Movers
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07:29 EDTEVRUBS to hold a conference
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07:21 EDTCSCredit Suisse to hold a conference
4th Annual Disruptive Technology Conference is being held in San Francisco on May 13-14 with webcasted company presentations to begin on May 13 at 10:35 am; not all company presentations may be webcasted. Webcast Link
07:16 EDTAMTMoffett Nathanson to hold a summit
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07:13 EDTDALBofA/Merrill to hold a conference
2015 Transportation Conference is being held in Boston on May 13-14.
07:11 EDTAMTAmerican Tower outlook has improved, says Pacific Crest
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07:04 EDTDALDelta Air Lines to return additional $6B to shareholders through 2017
Delta's board announced a new $5B share repurchase program, to be completed no later than December 31, 2017. In addition, the company's quarterly dividend will increase by 50% to 13.5c per share beginning in the September 2015 quarter. These two programs are expected to return more than $6B to shareholders through 2017. The company also announced that it is on track to complete the remaining $725M of its prior $2 billion share repurchase authorization by June 30. When this authorization is completed, Delta will have returned a total of $3B in dividends and share repurchases since announcing its initial program two years ago. Going forward, the company intends to return at least 50% of free cash flow to shareholders through 2017. The new $5B repurchase authorization and 50% increase to the quarterly dividend approved by Delta's board are expected to return more than $6B to shareholders through 2017. Delta ended the March 2015 quarter with $7.4B of adjusted net debt, a reduction of $2B since the end of 2013 and roughly $10B since the company began its debt reduction efforts in 2009. The company has set a target to achieve and maintain $4B of adjusted net debt by year end 2017. This debt level is expected to result in annual net interest expense of ~$200M, a $1.1B reduction compared to 2009. Since 2009, Delta has increased its pension plan assets by $1.7 billion, net of $5.2 billion in distributions, through a combination of contributions and asset returns. The company plans to maintain its current $1 billion annual funding level through 2020, with a goal of achieving 80% funded status by that date. Delta made a one-time additional $200M contribution in 2015, for a total contribution of $1.2B for the year, to keep the company on track to achieve its 2020 target.
May 12, 2015
07:52 EDTALKSLeerink to hold a tour
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May 11, 2015
16:00 EDTDALOptions Update; May 11, 2015
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14:35 EDTAMTAmerican Tower management to meet with Pacific Crest
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06:19 EDTALKSAlkermes management to meet with Jefferies
Meeting to be held in Baltimore on May 11 hosted by Jefferies.
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