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Stock Market & Financial Investment News

News Breaks
January 16, 2014
10:02 EDTFDO, D, ACM, RL, PCRFY, EMC, MHFI, KR, EFX, CSX, ROK, CLI, NUS, MKC, GNRC, EV, ALU, AMRN, AGCO, BEAM, BBY, MRCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AECOM Technology (ACM) downgraded to Hold from Buy at KeyBanc... Alcatel-Lucent (ALU) downgraded to Equal Weight from Overweight at Evercore... CSX (CSX) downgraded to Hold from Buy at Stifel... Dominion (D) downgraded to Hold from Buy at Jefferies... Eaton Vance (EV) downgraded to Sell from Neutral at Citigroup... Equifax (EFX) downgraded to Neutral from Buy at Goldman... Family Dollar (FDO) downgraded to Underperform from Market Perform at Raymond James... Generac (GNRC) downgraded to Perform from Outperform at Oppenheimer... Kroger (KR) downgraded to Neutral from Outperform at Credit Suisse... MRC Global (MRC) downgraded to Underperform from Buy at BofA/Merrill... McCormick (MKC) downgraded to Hold from Buy at Jefferies... McGraw Hill Financial (MHFI) downgraded to Neutral from Buy at Goldman... Best Buy (BBY) downgraded to Perform from Outperform at Oppenheimer... Nu Skin (NUS) downgraded to Hold from Buy at Canaccord... EMC (EMC) downgraded to Neutral from Buy at Monness Crespi... Beam (BEAM) downgraded to Sell from Hold at Argus... Mack-Cali Realty (CLI) downgraded to Underweight from Neutral at JPMorgan... Panasonic (PCRFY) downgraded to Neutral from Outperform at Macquarie... AGCO (AGCO) downgraded to Underweight from Neutral at JPMorgan... Rockwell Automation (ROK) downgraded to Underweight from Neutral at JPMorgan... Ralph Lauren (RL) downgraded to Equal Weight from Overweight at Morgan Stanley... Amarin (AMRN) downgraded to Neutral from Buy at MKM Partners.
News For ACM;ALU;CSX;D;EV;EFX;FDO;GNRC;KR;MRC;MKC;MHFI;BBY;NUS;EMC;BEAM;CLI;PCRFY;AGCO;ROK;RL;AMRN From The Last 14 Days
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March 24, 2015
12:44 EDTMKCOn The Fly: Midday Wrap
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11:40 EDTMKCMcCormick hits 52-week high after Q1 results top expectations
Shares of spices, seasonings and condiments maker McCormick & Company (MKC) are advancing after the company's first quarter results surpassed analysts' consensus estimates. WHAT'S NEW: This morning, McCormick reported Q1 adjusted earnings per share of 70c excluding a 15c impact of special charges on revenue of $1.01B, topping analysts' consensus estimates of 64c and $985.12M, respectively. McCormick's Q1 sales rose 2% from the year-ago period and in constant currency, the increase was 6%. Consumer business sales rose 5% in constant currency in Q1 due to increased volume and product mix driven by product innovation, brand marketing support and expanded distribution. Industrial business sales grew 7% in constant currency, with higher volume and product mix, as well as pricing actions. WHATíS NOTABLE: Looking ahead, the company forecast fiscal year 2015 adjusted EPS of EPS $3.44-$3.51, below its prior view of $3.51-$3.58 given in January and analysts' estimates for FY15 of $3.53. The company continues to expect 4%-6% sales growth in constant currency for FY15. Based on year-to-date results and prevailing exchange rates, currency is now expected to lower this sales growth range by 5 percentage points, which is more than the previous projection of 3 percentage points. In constant currency, adjusted operating income is expected to grow 6%-7% from adjusted operating income of $608M in 2014. McCormick also raised its anticipated special charges for the year to $30M from $20M due to a higher response rate to its voluntary retirement program and additional actions in EMEA. McCormick is also targeting cost reductions of at least $85M in FY15, which are expected to help offset higher material costs. The company sees its Comprehensive Continuous Improvement program delivering at least $65M in 2015, and sees savings from reorganization actions of $20M. Chairman and Chief Executive Officer Alan Wilson commented that Q1 operating income was unfavorably impacted by several factors including special charges, unfavorable currency rates and higher material costs. Wilson said the company anticipates that these headwinds will continue in 2015, but expect the benefit of pricing actions and cost reduction efforts to build in the upcoming quarters. PRICE ACTION: In late morning trading, McCormick rose $2.90 or 3.96% to $76.10 on more than twice its average daily trading volume. The stock hit a fresh 52-week high of $77.79 earlier in the session. Including today's advance, the shares have gained nearly 13% over the past 12 months. OTHERS TO WATCH: Other companies in the food space include TreeHouse Foods (THS), down 0.8%, B&G Foods (BGS), up 1.2%, and Pinnacle Foods (PF), up 0.1%.
10:49 EDTMKCMcCormick hits fresh life high after earnings, levels to watch
The shares are up 4.7%, off the high of the day which has set a new life high for the stock at $77.78. That new high is current resistance. Support for the shares is at $75.99.
09:22 EDTMKCOn The Fly: Pre-market Movers
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08:42 EDTCLIMack-Cali Realty signs lease contract with Securitas
Mack-Cali Realty announced that Securitas Security Services USA has signed a new 15-year, 81,282-square-foot lease at 9 Campus Drive in the Mack-Cali Business Campus in Parsippany, New Jersey. Securitas USA's new location, serving as its North American Headquarters and Eastern Operations Center, will house a full data center and 24/7 call center, as well as approximately 225 employees.
07:27 EDTBBY, KRTelsey Advisory to hold a conference
2015 Consumer Conference is being held in New York on March 24-25.
06:36 EDTMKCMcCormick sees FY15 adjusted EPS $3.44-$3.51, consensus $3.53
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06:32 EDTMKCMcCormick reports Q1 adjusted EPS 70c, consensus 64c
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March 23, 2015
15:36 EDTEMCEMC announces the Federation Business Data Lake.
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15:24 EDTMKCNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include McCormick (MKC), consensus 64c... IHS Inc. (IHS), consensus $1.36... HD Supply (HDS), consensus 10c... G-III Apparel (GIII), consensus 83c.
13:13 EDTCSXRailroad operators trade lower after Kansas City Southern reduces FY15 guidance
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10:00 EDTEMCOn The Fly: Analyst Downgrade Summary
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08:16 EDTPCRFYPanasonic to share intellectual property for the growth of Internet of Things
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06:40 EDTEMCEMC downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray downgraded EMC (EMC) to Neutral to Neutral saying the company is facing increasing pressure from next-gen storage vendors and public cloud providers. Piper notes that it continues to hear Pure Storage and other vendors such as Nimble Storage (NMBL) are making inroads into the installed base of EMC. It cut its price target for shares to $27 from $30. The firm also downgraded NetApp (NTAP) to Neutral this morning for similar reasons, but says EMC has a more defensible position than NetApp.
March 20, 2015
10:07 EDTACMHigh option volume stocks
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06:40 EDTMKCMcCormick April volatility elevated into Q1 and outlook
McCormick April call option implied volatility is at 22, June is at 16, September is at 20; compared to its 26-week average of 18 according to Track Data, suggesting large near term price movement into the expected release of Q1 on March 24.
05:51 EDTAMRNStocks with implied volatility movement; AMRN EWG
Stocks with implied volatility movement; Amarin (AMRN) 140, iShares MSCI Germany (EWG) 20 according to iVolatility.
March 19, 2015
07:35 EDTKRKroger price target raised to $90 from $80 at Deutsche Bank
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March 18, 2015
07:49 EDTEMCSenate Judiciary Committee to hold a hearing
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06:25 EDTNUSCiti calls Nu Skin its 'pot of gold on St. Patrickís Day'
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