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Stock Market & Financial Investment News

News Breaks
July 9, 2014
10:02 EDTUMPQ, SIG, SGEN, SLB, RDS.A, RTOKY, MATX, KKR, ITW, HFC, GOL, E, DB, CRR, BRCM, AINV, AXP, ACMPOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Access Midstream (ACMP) upgraded to Buy from Neutral at Ladenburg... American Express (AXP) upgraded at Guggenheim... Apollo Investment (AINV) upgraded to Buy from Neutral at SunTrust... Broadcom (BRCM) upgraded to Outperform from Perform at Oppenheimer... CARBO Ceramics (CRR) upgraded to Neutral from Sell at Guggenheim... Deutsche Bank (DB) upgraded to Overweight from Neutral at JPMorgan... Eni SpA (E) upgraded to Buy from Hold at Deutsche Bank... GOL Linhas (GOL) upgraded to Outperform from Market Perform at Raymond James... HollyFrontier (HFC) upgraded to Outperform at Wells Fargo... Illinois Tool Works (ITW) upgraded to Buy from Hold at Argus... KKR (KKR) upgraded to Outperform from Neutral at Credit Suisse... Matson (MATX) upgraded to Buy from Hold at BB&T... Rentokil (RTOKY) upgraded to Outperform from Neutral at Credit Suisse... Royal Dutch Shell (RDS.A) upgraded to Buy from Hold at Deutsche Bank... Schlumberger (SLB) upgraded to Overweight from Neutral at HSBC... Seattle Genetics (SGEN) upgraded to Buy from Neutral at UBS... Signet Jewelers (SIG) resumed with an Overweight from Neutral at JPMorgan... Umpqua Holdings (UMPQ) upgraded to Equal Weight from Underweight at Barclays.
News For A;SLB;SGEN;SIG;UMPQ From The Last 14 Days
Check below for free stories on A;SLB;SGEN;SIG;UMPQ the last two weeks.
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August 29, 2014
18:01 EDTSLBSchlumberger executives sell company stock near record high, Barron's reports
From July 25 to August 28, four Schlumberger executives, including CFO Simon Ayat, sold thousands of shares of company stock, Barron's reports. Adjusted for dividends and splits, Schlumberger shares notched a record intra-day high of $118.76 on July 1, Barron's added. Reference Link
08:33 EDTSIGSignet Jewelers price target raised to $125 from $115 at Deutsche Bank
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07:37 EDTSIGSignet Jewelers price target raised to $130 from $115 at Stephens
Stephens believes Signet's integration of Zale appears to be going well and the firm expects sales and margin disparities between the two to shrink, driving considerable EPS accretion over time. Stephens raised its price target on Signet to $130 and keeps its Overweight rating on the shares.
August 28, 2014
13:20 EDTSIGSignet climbs higher as company reports 'impressive' Q2 earnings
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12:34 EDTSIGOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday as concern over the Ukraine crisis overshadowed an upward revision to the government's estimate of U.S. economic growth in the second quarter. The major averages began the session in negative territory and picked up downside momentum in early trading, but soon after began to drift off their lows and recapture some of their losses. Volume remains light, as is expected ahead of the upcoming long weekend. ECONOMIC EVENTS: In the U.S., Q2 GDP growth was unexpectedly boosted to 4.2% from the first estimate of 4.0%. Personal consumption rose 2.5% during the second quarter, versus estimates for a 2.4% increase. Initial jobless claims ticked down slightly to 298K in the fourth week of August. Pending home sales index increased 3.3% in July, which was better than the 0.5% month-over-month increase that was expected. In Europe, Ukraine president Poroshenko reportedly accused Russia of a "de facto" invasion and canceled a trip to call an urgent meeting of his security and defense council. COMPANY NEWS: Shares of Visa (V) declined 1% after Raymond James lowered its rating on the credit card giant's stock to Market Perform from Outperform. The Dow component faces a number of headwinds, including tougher negotiating tactics by larger international banks looking to win better deals, lower cross-border volume, and loss of processing revenue in Russia, wrote Raymond James analyst Wayne Johnson. MAJOR MOVERS: Among the notable gainers was Repros Therapeutics (RPRX), which jumped 20% after the first of two identical pivotal studies comparing Androxal to an FDA approved topical gel and placebo achieved superiority in both co-primary endpoints and Piper Jaffray hiked its price target on the stock to $33 from $26. Also higher was Signet Jewelers (SIG), which rose nearly 7% after reporting Q2 results that analysts at Sterne Agee called "impressive." Among the noteworthy losers were a number of retailers who dropped after reporting results from their most recent fiscal quarters. Shares of home goods retailer William-Sonoma (WSM) dropped 11%, jeans maker Guess (GES) fell 9%, and apparel retailer Abercrombie & Fitch (ANF) slipped more than 4%. INDEXES: Near midday, the Dow was down 33.92, or 0.2%, to 17,088.09, the Nasdaq was down 4.52, or 0.1%, to 4,565.11, and the S&P 500 was down 2.04, or 0.1%, to 1,998.08.
12:17 EDTSIGSignet Jewelers price target raised to $135 from $125 at Sterne Agee
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10:25 EDTSIGHigh option volume stocks
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08:55 EDTSIGOn The Fly: Pre-market Movers
HIGHER: Digital Ally (DGLY), up 16% after announcing order from Michigan State Police for over $1.1M... EnteroMedics (ETRM), up 12.4% after reporting three-year data from Maestro RC system... Repros (RPRX), up 0.8% after Androxal achieves superiority in both co-primary endpoints in a study... Synthetic Biologics (SYN), up 2.7% after Pfizer (PFE) was granted FDA Fast Track designation for its investigational Clostridium difficile vaccine candidate. Synthetic Biologics announced earlier this week that SYN-004, the company's lead anti-infective product candidate for the prevention of the effects of C. difficile, will be presented in October... Signet (SIG), up 3.9% after Q2 revenue tops consensus. DOWN AFTER EARNINGS: Abercrombie & Fitch (ANF), down 5.7%... Guess (GES), down 8.3%... Frontline (FRO), down 7%. ALSO LOWER: Williams-Sonoma (WSM), down 10.9% after downgraded at Morgan Stanley following the company's Q2 earnings report... GT Advanced (GTAT), down 2% after downgraded at Raymond James... Sungy Mobile (GOMO), down 20.1% following earnings report, CFO resignation, downgrade of stock at Oppenheimer... Genesco (GCO), down 7.7% after cutting fiscal year forecast.
07:13 EDTSIGSignet Jewelers sees $150M-$175M in synergies from January 2015 -January 2018
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07:11 EDTSIGSignet Jewelers sees FY15 adjusted EPS $5.38-$5.54, consensus $5.52
Zale operations are expected to be accretive to FY15 adjusted EPS by 18c-24c.
07:10 EDTSIGSignet Jewelers sees Q3 SSS up 2%-4%
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07:08 EDTSIGSignet Jewelers sees Q3 adjusted EPS 12c-18c, may not compare to consensus 33c
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07:06 EDTSIGSignet Jewelers reports Q2 organic EPS $1.00, consensus 98c
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August 27, 2014
11:32 EDTSIGTiffany shines brighter as results beat expectations, company raises outlook
Shares of luxury retailer Tiffany (TIF) are moving higher after the company reported significantly stronger than expected second quarter results and raised its fiscal year 2015 earnings per share view. WHAT'S NEW: Tiffany's reported Q2 EPS of 96c on revenue of $993M, beating analysts' consensus estimates of 85c and $987.88M, respectively. Worldwide net sales increased 7% in Q2 and comparable store sales increased 3% in Q2 mainly due to growth in the Americas and Asia-Pacific regions. Looking ahead, the retailer increased its FY15 EPS view to $4.20-$4.30 from its previous view of $4.15-$4.25, which is in-line with analysts' $4.29 consensus. Tiffany anticipates worldwide net sales increasing by a high-single digit range and sees worldwide net sales increasing by a high-single-digit percentage for the year. The company also sees FY free cahs flow of at least $400M as well as capital expenditures of $270M. WHAT'S NOTABLE: During its conference call discussing the quarter, Tiffany said that it sees a "healthy" increase in its full-year operating margin. The luxury company noted that it experienced continued softness in its U.S. silver sales during Q2 as well as softness in U.S. entry-level sales under $500. In its Japan division, the retailer foresees returning to single-digit sales growth, but noted that the unit has not experienced that so far in the first few weeks of this month. In Europe, the retailer said it is "still feeling" the effect of economic and currency related obstacles. Tiffany sees opening 10 stores throughout the rest of the year, which is lower than its original plan of opening 13, and plans to close three stores this year compared to its original target of closing four. Tiffany also sees a double-digit percentage marketing spend increase in the second-half of this year. ANALYST REACTION: Sterne Agee analyst Ike Boruchow said that as Tiffany continues to surpass expectations in its earnings reports, fashion jewelry in general is growing again and the company's latest "T" collection should quicken that category further. He feels that regardless of the few headwinds in Japan and Europe, the luxury company is still one of the most stable retail firms. Boruchow believes that the CEO transition from Michael Kowalski to Frederic Cumenal is likely to be a "smooth" one in March. The analyst keeps the stock at a Buy rating with a $100.77 price target. OTHERS TO WATCH: Other high end retailers include Signet Jewelers (SIG), Blue Nile (NILE), Nordstrom (JWN), Michael Kors (KORS), and Coach (COH). PRICE ACTION: During late-morning trading, Tiffany rose $1.32 or 1.31%, to $102.09.
August 24, 2014
14:44 EDTSLBSchlumberger acquisitions should help North American push, WSJ says
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