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Stock Market & Financial Investment News

News Breaks
June 11, 2014
10:00 EDTACHN, SYK, SKUL, SNDK, RAI, PB, TAP, MU, MRVL, ETR, EW, DSX, COP, ANGI, AMZN, UMCOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Achillion (ACHN) upgraded to Outperform from Neutral at RW Baird... Amazon.com (AMZN) upgraded to Conviction Buy from Buy at Goldman... Angie's List (ANGI) upgraded to Buy from Hold at Wunderlich... ConocoPhillips (COP) upgraded to Outperform from Sector Perform at Howard Weil... Diana Shipping (DSX) upgraded to Equal Weight from Underweight at Barclays... Edwards Lifesciences (EW) upgraded to Outperform from Market Perform at JMP Securities... Entergy (ETR) upgraded to Neutral from Sell at UBS... Marvell (MRVL) upgraded at Nomura... Micron (MU) upgraded to Buy from Underperform at BofA/Merrill... Molson Coors (TAP) upgraded at BofA/Merrill... Prosperity Bancshares (PB) upgraded to Buy from Neutral at Sterne Agee... Reynolds American (RAI) upgraded at BofA/Merrill... SanDisk (SNDK) upgraded to Buy from Underperform at BofA/Merrill... Skullcandy (SKUL) upgraded to Neutral from Underweight at Piper Jaffray... Stryker (SYK) upgraded to Buy from Hold at Argus... United Microelectronics (UMC) upgraded to Buy from Neutral at BofA/Merrill.
News For ACHN;AMZN;ANGI;COP;DSX;EW;ETR;MRVL;MU;TAP;PB;RAI;SNDK;SKUL;SYK;UMC From The Last 14 Days
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July 9, 2014
12:42 EDTRAILorillard, Reynolds deal still most likely outcome, says Wells Fargo
After it was reported that British American Tobacco (BTI) is potentially in talks to acquire the 58% of Reynolds American (RAI) that it doesn't own, Wells Fargo says it still believes a combination between Reynolds and Lorillard (LO) remains the most likely outcome. The firm thinks Susan Cameron was not brought back to run Reynolds to help facilitate a sale transaction to BAT. Wells recommends buying shares of Lorillard on any pullback should a deal between BAT and Reynolds be announced, as it thinks that ultimately a transaction to buy Lorillard would likely follow.
12:30 EDTRAIOn The Fly: Midday Wrap
Stocks on Wall Street were moderately higher at midday, helped in part by better than expected earnings from Alcoa (AA), solid monthly numbers from the airlines sector, and a bounce from the two day losing streak that had seen the S&P lose 1% and the Nasdaq pullback by more than 2%. The market has been unable to gather any upside momentum and has moved in a narrow range throughout the morning, as investors await the release of the Fedís FOMC minutes. ECONOMIC EVENTS: The minutes from the Federal Open Market Committee meeting held June 17-18 are scheduled to be released at 2:00 pm ET. In China, the producer-price index declined 1.1% from a year earlier, compared with a consensus forecast for a 1% drop. China's consumer-price index rose 2.3%, below projections for a 2.4% gain. COMPANY NEWS: Alcoa swung to a second-quarter profit of 18c a share on an adjusted basis, beating the consensus estimate of 7c a share, as its revenue also topped expectations. The aluminum producer, whose report is widely considered to mark the start of an earnings season, said its transformation is in "high gear" and that its cost position continues to improve. The stock rose 5% near midday following its report. MAJOR MOVERS: Among the notable gainers was AeroVironment (AVAV), which develops a portfolio of products and services for unmanned aircraft and efficient energy systems. The stock rallied 14% after the company reported better than expected fourth quarter results. Also higher was Reynolds American (RAI), which rose more than 2.5% after the U.K.'s Daily Mail reported that British American Tobacco (BTI), which currently holds a 42% stake in Reynolds, is speculated to be "on the verge" of buying out the remainder of its U.S. peer that it does not already own. Among the noteworthy losers was IT infrastructure technology provider Gigamon (GIMO), which was downgraded by at least five firms and plunged 32% after the company lowered its Q2 revenue guidance, citing challenges closing deals. Also lower following its earnings reports was specialty storage and organizational product retailer The Container Store (TCS), which fell 10%. INDEXES: Near midday, the Dow was up 36.86, or 0.22%, to 16,943.48, the Nasdaq was up 18.93, or 0.43%, to 4,410.39, and the S&P 500 was up 4.59, or 0.23%, to 1,968.30.
11:30 EDTMUMicron shares defended at Sterne Agee
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11:25 EDTRAIReynolds rises as BAT said to contemplate total takeover
Shares of cigarette manufacturer Reynolds American (RAI) are higher this morning following a report that British American Tobacco (BTI) is close to a deal to buy the stake in Reynolds it does not already own. WHAT'S NEW: The Daily Mail reported that British American Tobacco, which currently holds a 42% stake in Reynolds, is speculated to be "on the verge" of buying out the 58% of its U.S. peer that it does not already own. WHAT'S NOTABLE: A deal for Reynolds, whose brands include Kill, Camel, Winston and Salem, by British American Tobacco would stop any plans Reynolds might already have to buy Lorillard (LO), which makes Newport menthol cigarettes and electronic cigarettes. CNBC's David Faber said on July 3 that Reynolds was on track to buy Lorillard "within weeks," and added that Imperial Tobacco (ITYBY) would likely buy some of the divested assets as a result of the transaction. Faber noted at the time that British American Tobacco was likely to build a position in Reynolds. ANALYST REACTION: According to the Daily Mail, Citigroup has said it would be "advantageous" for British American Tobacco to acquire all of Reynolds, as its earnings per share would be boosted by 10%-13% and give it access to "one of the best" global e-cigarette platforms. The firm believes a total acquisition would allow British American Tobacco "total freedom" to deploy Reynolds' intellectual property on e-cigarettes. PRICE ACTION: Reynolds American shares are up $1.62, or 2.64%, to $62.93 in mid-morning trading. Meanwhile, British American Tobacco shares trading in New York are down 46c to $121.51 and Lorillard is up 40c to $63.33.
11:00 EDTAMZNWells says VMware growth could slow, downgrades shares
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10:36 EDTMUMicron trades lower, levels to watch
The shares were last down over 3% to $32.13 as the stock edges away from its recent 52-week high at $34.50. The 10-day moving average has been broken to the downside, last at $32.88 and now resistance. That break is short-term bearish for price. Next support below current levels is at $31.26, and then at the 30-day moving average last at $30.81.
10:02 EDTMRVLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Advanced Energy (AEIS) downgraded to Neutral from Buy at Dougherty... Apollo Global (APO) downgraded to Neutral from Buy at Citigroup... Artisan Partners (APAM) downgraded to Neutral from Buy at Citigroup... Autoliv (ALV) downgraded to Hold from Buy at Nordea... BNP Paribas (BNPQY) downgraded to Neutral from Overweight at JPMorgan... BP (BP) downgraded to Hold from Buy at Deutsche Bank... Carlyle Group (CG) downgraded to Neutral from Buy at Citigroup... Coach (COH) downgraded at Buckingham... Cummins (CMI) downgraded to Buy from Conviction Buy at Goldman... Garmin (GRMN) downgraded to Underperform from Sector Perform at Pacific Crest... Gigamon (GIMO) downgraded to Buy from Strong Buy at Needham... International Paper (IP) downgraded at RBC Capital... Louisiana-Pacific (LPX) downgraded at RBC Capital... Marvell (MRVL) downgraded to Underperform from Perform at Oppenheimer... McGraw Hill Financial (MHFI) downgraded to Market Perform at Raymond James... Moody's (MCO) downgraded to Market Perform from Outperform at Raymond James... Plum Creek Timber (PCL) downgraded at RBC Capital... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... RGS Energy (RGSE) downgraded at Cowen... Taminco (TAM) downgraded to Neutral from Buy at Citigroup... Total (TOT) downgraded to Hold from Buy at Societe Generale... Unilever (UN) downgraded to Reduce from Neutral at Nomura... VMware (VMW) downgraded to Market Perform from Outperform at Wells Fargo... Vectren (VVC) downgraded to Hold from Buy at KeyBanc.
09:40 EDTMUSamsung raisiing DRAM capacity, says Morgan Stanley
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09:35 EDTAMZN, MUActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AA FB AMZN TSLA TWTR MU NFLX GG CELG
09:13 EDTRAIOn The Fly: Pre-market Movers
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08:31 EDTAMZNVMware CEO sees EMC helping it remain independent, WSJ reports
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07:26 EDTRAIBritish American rumored 'on verge' of deal to buy out Reynolds, Daily Mail says
British American Tobacco (BTI) is speculated to be "on the verge of a mega deal" to buy the 58% cigarette peer Reynolds American (RAI) that it does not already own, according to the Daily Mail. By doing so, it would stop any plans Reynolds might have to buy another company in the industry, Lorillard (LO), according to the report. Reference Link
06:24 EDTAMZNGoogle Cloud Storage offering 2 TB of free storage through partner, WSJ reports
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05:35 EDTMRVLMarvell downgraded to Underperform from Perform at Oppenheimer
Oppenheimer downgraded Marvell to Underperform saying the company is sacrificing margins for revenue growth. The firm recommends avoiding the shares until the risk/reward improves.
05:14 EDTUMCUnited Microelectronics reports June revenue up 15.33% to NT$12.41B
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July 8, 2014
18:24 EDTAMZNAmazon.com proposes e-book authors keep 100% of revenue, WSJ says
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16:00 EDTAMZNOptions Update; July 8, 2014
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06:29 EDTMRVL, MUSEMI predicts 21% increase in production equipment purchases in 2014, WSJ says
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06:28 EDTAMZNWal-Mart embracing small store models, online strategies, WSJ reports
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06:09 EDTMU, SNDKDRAM and NAND flash chip supplies to fall short of demand in 2H14, DigiTimes say
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