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Stock Market & Financial Investment News

News Breaks
January 16, 2014
10:02 EDTAGCO, BEAM, BBY, MRC, FDO, D, ACM, RL, PCRFY, EMC, MHFI, KR, EFX, CSX, ROK, CLI, NUS, MKC, GNRC, EV, ALU, 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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January 21, 2015
09:08 EDTMHFINew York AG joins SEC in settlement with Standard and Poor's
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09:07 EDTMHFIS&P to pay $58M to settle SEC charges
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09:06 EDTMHFISEC announces charges against S&P for fraudulent ratings misconduct
The Securities and Exchange Commission announced a series of federal securities law violations by Standard & Poorís Ratings Services involving fraudulent misconduct in its ratings of certain commercial mortgage-backed securities. S&P agreed to pay more than $58M to settle the SECís charges, plus an additional $19M to settle parallel cases announced by the New York Attorney Generalís office -- $12M -- and the Massachusetts Attorney Generalís office -- $7M. The SEC issued three orders instituting settled administrative proceedings against S&P. One order, in which S&P made certain admissions, addressed S&Pís practices in its conduit fusion CMBS ratings methodology. S&Pís public disclosures affirmatively misrepresented that it was using one approach when it actually used a different methodology in 2011 to rate six conduit fusion CMBS transactions and issue preliminary ratings on two more transactions. As part of this settlement, S&P agreed to take a one-year timeout from rating conduit fusion CMBS. In a separate order instituting a litigated administrative proceeding, the SEC Enforcement Division alleges that the former head of S&Pís CMBS Group fraudulently misrepresented the manner in which the firm calculated a critical aspect of certain CMBS ratings in 2011. Barbara Duka allegedly instituted the shift to more issuer-friendly ratings criteria, and the firm failed to properly disclose the less rigorous methodology. The matter against Duka will be scheduled for a public hearing before an administrative law judge for proceedings to adjudicate the Enforcement Divisionís allegations and determine what, if any, remedial actions are appropriate.
09:05 EDTMHFISEC announves charges against S&P for fraudulent ratings misconduct
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09:02 EDTEMCSciQuest names Beth Hendriks as Chief Technology Officer
SciQuest (SQI) announced that EMC (EMC) executive Beth Hendriks will be joining the company as its new chief technology officer. In this role, she will be responsible for enhancing the breadth and depth of the SciQuest Spend Management Suite while accelerating technology and user experience innovation. Hendriks joins SciQuest from EMC, where she served as senior director of engineering.
05:50 EDTEFXFair Isaac upgraded to Overweight from Equal Weight at Barclays
Barclays upgraded Fair Isaac to Overweight citing growth at Scores, software sales momentum and the company's continued buybacks. The firm raised its price target for shares to $85 from $65. Barclays coupled the upgrade with a downgrade of Dun & Bradstreet (DNB) to Underweight. It also keeps an Overweight rating on Equifax (EFX).
January 20, 2015
15:29 EDTMHFIS&P may pay $1.5B to U.S to settle ratings issue, Reuters says
S&P in talks with U.S. Justice department and individual states over mortgage ratings, Reuters added.
14:43 EDTMHFIS&P said to be banned by SEC on rating some CMBSs for year, Bloomberg reports
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14:16 EDTMHFIS&P said to be banned by SEC on rating some CMBSs for year, Bloomberg reports
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13:36 EDTPCRFYPanasonic may move digital camera manufacturing from Japan, ChinaTechNews says
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10:20 EDTBBYOptions with decreasing implied volatility
Options with decreasing implied volatility: RPRX TLM BBY GME CBST NPSP
January 16, 2015
10:15 EDTBBYOptions with decreasing implied volatility: BBY ETE CBST
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10:01 EDTFDOOn The Fly: Analyst Downgrade Summary
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10:01 EDTEV, CSXOn The Fly: Analyst Upgrade Summary
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08:51 EDTCSXCSX upgraded to Positive at Susquehanna
As previously reported, Susquehanna upgraded CSX to Positive from Neutral, citing strong demand signals, expectations of accelerated pricing, and easier comps. Susquehanna raised its price target to $42 from $35 on CSX shares.
08:13 EDTBBYBest Buy shares attractive after pullback, says RBC Capital
After Best Buy provided guidance for flat to down comps and EBIT contraction for the first half of fiscal 2016, RBC Capital remains upbeat on the stock due to the company's market share gains and what the firm sees as improving product cycles. RBC Capital trimmed its price target on the stock to $42 from $45 but keeps an Outperform rating.
07:53 EDTPCRFYChanos says he is 'potential purchaser' of Tesla shares
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07:38 EDTEVEaton Vance upgraded to Neutral from Sell at Citigroup
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07:25 EDTCSXCSX upgraded to Positive from Neutral at Susquehanna
06:02 EDTFDOFamily Dollar downgraded to Hold from Buy at Jefferies
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