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Stock Market & Financial Investment News

News Breaks
January 16, 2014
10:02 EDTACM, BBY, NUS, EMC, BEAM, CLI, PCRFY, AGCO, ROK, RL, MHFI, MKC, ALU, CSX, D, EV, EFX, FDO, GNRC, KR, MRC, AMRNOn 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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October 14, 2014
10:00 EDTEVEaton Vance reports assets under management of $293.6B on September 30, 2014
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07:19 EDTCSXCanadian Pacific talks with CSX still possible after rebuff, WSJ says
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07:14 EDTCSXUBS hosts a Railroad analyst/industry conference call
Analyst Wadewitz will discuss his initiation of coverage of the Railroad Sector in a conference call on October 14 at 11 am.
06:42 EDTPCRFYPV modules with solar-grade wafers to account for 89% of capacity, DigiTimes says
Solarbuzz says solar photovoltaic modules using solar-grade wafers will account for 89% of solar capacity forecast to be installed in 2014, reports DigiTimes. Thin-filmed panel makers will supply nearly 8% of end-market demand in 2014, while premium cyrstalline silicon suppliers making up the remaining 3% share. Publicly traded companies in the space include Canadian Solar (CSIQ), First Solar (FSLR), JA Solar (JASO), SunPower (SPWR), Trina Solar (TSL), Panasonic (PCRFY) and Yingli Green Energy (YGE). Reference Link
06:29 EDTPCRFYTSMC and rivals racing to pack computer power in each chip, WSJ says
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October 13, 2014
17:24 EDTACMS&P announces changes to the S&P MidCap 400 and S&P SmallCap 600 indices
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16:55 EDTEMCEMC to acquire cloud-computing firm Cloudscaling, Bloomberg reports
EMC is acquiring cloud-computing startup Cloudscaling, which helps companies manage computers that are tied together by OpenStack, says Bloomberg Businessweek. The purchase price is less than $50M, added Bloomberg Businessweek. Reference Link
16:28 EDTCSXOn The Fly: Closing Wrap
Stocks on Wall Street spent most of today's quiet session see-sawing across the flat-line before dropping sharply in the final hour of trading and closing at their lows. The market opened in negative territory but soon made a move to the upside and appeared ready to break the recent market slide that has seen the S&P lose about 5% of its value. Before the averages gained significant steam, they reversed again and moved back into negative ground. The averages moved in a fairly narrow range for most of the afternoon, before accelerating to the downside with conviction in the final hour of trading. ECONOMIC EVENTS: In the U.S., no economic data of note was reported and banks and bond markets were closed in observance of the Columbus Day holiday. In China, the nation's customs administration reported a trade surplus of about $31B for September. Exports in the month increased 15.3% from a year earlier, beating expectations and making for the biggest monthly increase since February 2013. Imports rose 7%, significantly outpacing the consensus projection for a 2% decline. COMPANY NEWS: The Wall Street Journal reported that CSX (CSX) was approached by a larger rival, Canadian Pacific (CP), about a possible merger. However, Credit Suisse analyst Allison Landry wrote in a note to investors that a merger between the two would not be able to occur, due to high regulatory hurdles. Still, CSX rose $1.76, or 5.88%, to $31.70 following the Journal's report, while Canadian Pacific fell $4.40, or 2.32%, to $184.97... Shares of Fiat Chrysler Automobiles (FCAU) made their debut on the New York Stock Exchange and opened at $9 per share. The stock of the newly merged company closed trading down about 1% at $8.92... J.C. Penney (JCP) selected Marvin Ellison, who is currently executive vice president of stores at Home Depot (HD), to become its next CEO. The stock, which was also downgraded to Sell from Neutral at UBS this morning, spent much of the trading day in positive ground but moved lower late in the session and closed down 3c, or 0.42%, at $7.09. MAJOR MOVERS: Among the notable gainers was Alnylam (ALNY), which advanced $13.83, or 18.98%, to $86.68 after the company announced data from study of its treatment for patients with familial amyloidotic polyneuropathy and Piper Jaffray raised its price target on the stock to $133 from $101 citing the trial results. Among the noteworthy losers was AutoNation (AN), which fell $4.11, or 8.01%, to $47.21 after another company in the same sector, Lithia Motors (LAD), lowered its profit outlook for the third and fourth quarter and issued a lower than expected earnings forecast for fiscal 2015. Shares of Lithia, meanwhile, plunged $16.85, or 20.84%, to $64.01. Also lower were shares of GoPro (GPRO), which fell $8.38, or 9.85%, to $76.67 after a French journalist reported that the son of racing legend Michael Schumacher attributed the severity of his father's brain injury following a skiing accident on the GoPro camera mounted to his helmet. INDEXES: The Dow fell 223.03, or 1.35%, to 16,321.07, the Nasdaq dropped 62.58, or 1.46%, to 4,213.66, and the S&P 500 declined 31.39, or 1.65%, to 1,874.74.
16:17 EDTCSXCSX initiated with a Buy at UBS
Target $39.
12:16 EDTCSXOn The Fly: Midday Wrap
Stocks on Wall Street were slightly lower at midday amid light trading volume. Banks and bond markets are closed in observance of the Columbus Day holiday, though equity markets remain open. ECONOMIC EVENTS: In the U.S., no major economic data was reported. COMPANY NEWS: Shares of a number of freight train operators rose after The Wall Street Journal reported that one of the companies in the sector, CSX (CSX), was approached by a larger rival, Canadian Pacific (CP), about a possible merger. Following the Journal's report, CSX rose 10% and Canadian Pacific advanced 1%, while Norfolk Southern (NSC) and Kansas City Southern (KSU) both climbed about 3%... Chrysler returned to the U.S. stock market, as shares of Fiat Chrysler began trading on the New York Stock Exchange under the symbol "FCAU." MAJOR MOVERS: Among the notable gainers was J.C. Penney (JCP), which rose 3% after the company selected Marvin Ellison, who is currently executive vice president of stores at Home Depot (HD), to become its next CEO. Also higher were Atlas Energy (ATLS), which rose 20%, and Atlas Pipeline Partners (APL), which advanced 6%, after Targa Resources Partners (NGLS) and Targa Resources (TRGP) agreed to acquire Atlas Pipeline Partners for cash and stock valued at $38.66 per APL common unit and agreed to buy Atlas Energy following the company's spin-off of its non-midstream assets. Among the noteworthy losers was Aerohive Networks (HIVE), which plunged 30% after the company lowered its guidance for the third quarter, citing weaker-than-expected order volume near the quarter's end. Also lower were shares of GoPro (GPRO), which fell over 8% after a French journalist reported that the son of racing legend Michael Schumacher attributed the severity of his father's brain injury following a skiing accident on the GoPro camera mounted to his helmet. INDEXES: Near midday, the Dow was down 32.14, or 0.19%, to 16,511.96, the Nasdaq was down 7.97, or 0.19%, to 4,268.27, and the S&P 500 was down 6.85, or 0.36%, to 1,899.28.
12:01 EDTFDOOptions with decreasing implied volatility
Options with decreasing implied volatility: EXAS INFY YUM FDO HSY
10:53 EDTCSXRailroads advance after report of Canadian Pacific approach to CSX
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10:31 EDTCSXCredit Suisse questions WSJ article on Canadian Pacific and CSX merger
Credit Suisse said it wouldn't be surprised if Canadian Pacific (CP) approached CSX (CSX), but questions its validity unless Canadian Pacific makes an official response. The analyst notes the STB rules concerning Class I mergers have an impossible hurdle rate, making a deal a non-starter.
10:26 EDTCSXHigh option volume stocks
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09:21 EDTCSXOn The Fly: Pre-market Movers
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08:24 EDTCSXCSX price target raised to $37 from $32 at Bernstein
Bernstein raised its price target on CSX (CSX) after The Wall Street Journal reported that the company was approached by Canadian Pacific (CP) about a possible merger. The firm thinks the deal could enable CSX to more quickly raise its margins and presents it with an opportunity to unlock significant near-term value. Bernstein says the report makes it more constructive on CSX, but it keeps a Market Perform rating on the shares.
08:01 EDTCSXCanadian Pacific, CSX merger timing not ideal, says Cowen
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07:23 EDTCSXCSX volatility up, approached by Canadian Pacific on possible merger, report
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07:15 EDTEMCNational Association of Corporate Directors to hold a conference
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October 12, 2014
16:04 EDTCSXCSX approached by Canadian Pacific on possible merger, WSJ says
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