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Stock Market & Financial Investment News

News Breaks
May 28, 2014
10:00 EDTACUR, DG, LYV, HSH, LOW, NLS, VODOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Acura Pharma (ACUR) downgraded to Hold from Buy at MLV & Co.... Dollar General (DG) downgraded to Hold from Buy at Deutsche Bank... Hillshire Brands (HSH) downgraded to Market Perform from Outperform at BMO Capital... Live Nation (LYV) downgraded at Sterne Agee... Lowe's (LOW) downgraded at Canaccord... Nautilus (NLS) downgraded to Neutral from Buy at B. Riley... Vodafone (VOD) downgraded to Hold from Buy at Berenberg.
News For ACUR;DG;LYV;HSH;LOW;NLS;VOD From The Last 14 Days
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September 30, 2014
12:01 EDTLYVTicketmaster expands presence to 19 countries with launch of Ticketmaster Qatar
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September 29, 2014
08:14 EDTDGDollar General buying Dollar Tree 'not impossible,' says FBR Capital
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06:07 EDTACURAcura Pharma hydrocodone bitartrate with acetaminophen meet clinical endpoints
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September 26, 2014
18:01 EDTDGAttorneys general investigating effects of proposed Family Dollar merger
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September 24, 2014
08:29 EDTLOWLowe's management to meet with Deutsche Bank
Meeting to be held in Los Angeles on September 24 hosted by Deutsche Bank.
September 23, 2014
12:19 EDTVODAT&T, Vodafone 'laying groundwork' for deal, BSN reports
Vodafone (VOD) and AT&T (T) are "laying the groundwork" for a possible acquisition, merger or partnership deal, according to Bright Side of News, citing sources close to both companies. Shares of Vodafone have moved out of negative territory and are up 0.5% following the report. Reference Link
08:56 EDTLOWLowe's management to meet with Deutsche Bank
Meetings to be held in San Mateo/San Francisco/Los Angeles on September 23 hosted by Deutsche Bank.
September 22, 2014
09:54 EDTLOWLowe's management to meet with Deutsche Bank
Meeting to be held in San Francisco on September 22 hosted by Deutsche Bank.
September 19, 2014
18:20 EDTLOWLowe's CEO Niblock sells nearly $28M of company stock near record high
In regulatory filings, it was disclosed that Lowe's CEO Robert A. Niblock sold nearly $28M worth of company stock from September 9-11. Lowe's stock has been climbing steadily over the past three months, and it made both a 52-week and record high of $54.81 on Friday, September 19.
12:37 EDTVODVodafone buys 140 Phones4u stores, hires former employees, TheNextWeb says
Vodafone has bought 140 stores left behind by UK mobile phone retailer Phones4u and expects to hire 900 former Phones4U employees, reports TheNextWeb. The company said in a statement, that it will start engaging with these employees and begin rebranding the stores as soon as possible. Reference Link
September 18, 2014
10:40 EDTLOWPier 1 Imports falls to 12-month low after weak Q2, lowered outlook
Shares of home furnishings retailer Pier 1 Imports (PIR) hit a 12-month low after the company's second quarter results fell below analysts' consensus estimates and it reduced its fiscal 2015 earnings per share outlook. WHAT'S NEW: Pier 1 Imports reported Q2 EPS of 10c on revenue of $418.6M, missing analysts' consensus estimates of 14c and $426.02M, respectively. Same-store-sales for the quarter were up 4.5%. The retailer lowered its FY15 EPS outlook to 95c-$1.05 from $1.14-$1.22. Analysts' consensus estimates for FY15 EPS prior to the earnings report was $1.13. The company sees FY15 SSS in the mid-to-high single digits and gross profit, as a percentage of sales, are expected to be 40.5%-41.5%. Pier 1 Imports CEO Alex Smith said that he foresees online sales to surpass $400M in 2016. WHAT'S NOTABLE: During the company's conference call, Pier 1 Imports said that it expects to see improving merchandise margins in coming quarters with fewer coupons. The company noted plans to continue returning cash to shareholders in the form of dividends and share buybacks. ANALYST REACTION: This morning, Wells Fargo analyst Matt Neemer downgraded Pier 1 Imports to Market Perform from Outperform. He feels that the stock will be a difficult one to own in the medium term as the retailer moves towards a multi-channel approach. Neemer believes that the company has a difficult journey ahead as it cuts broad-based discounters, and he feels that consumers will take time to get accustomed to the new messaging. He cut his price target range to $15-$16 from $19-$20 for the company. Barclays analyst Alan Rifkin downgraded Pier 1 Imports to Equal Weight from Overweight due to slow revenue growth and heightened promotions. He feels that that the "soft" revenues could continue. He believes that the company's elongated online profitability pipeline and increased promotions are certain to be a burden on the business in ways that the company had not initially thought. Rifkin said that growing the top line will be even harder in the absence of promotions. He reduced his price target for shares to $14 from $18. Argus analyst Christopher Graja downgraded Pier 1 Imports to Hold from Buy due to the company's lower than anticipated Q2 earnings. He feels that in terms of the home furnishings market, companies such as Williams-Sonoma (WSM), Home Depot (HD) and Lowe's (LOW) are more "resilient" for shareholders. Pier 1 Imports was also downgraded to Hold from Buy at BB&T. PRICE ACTION: In morning trading, Pier 1 Imports fell $2.63, or 16.99%, to $12.90. Including today's pull back, the stock is down approximately 45.2% over the past 12 months. OTHERS TO WATCH: Other companies in the home furnishings space include Restoration Hardware (RH), and Bed Bath & Beyond (BBBY).
September 17, 2014
17:32 EDTDGDollar General remains committed to acquisition of Family Dollar
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08:28 EDTDGFamily Dollar board rejects Dollar General's 'illusory' tender offer
Family Dollar Stores (FDO) announced that its Board of Directors unanimously recommends that Family Dollar’s shareholders reject the unsolicited conditional tender offer made by Dollar General Corporation (DG) and not tender their shares. In conjunction with its rejection of Dollar General’s offer, Family Dollar’s Board unanimously reaffirms its recommendation in support of the transaction with Dollar Tree (DLTR). The terms of the tender offer are the same as those in the proposal made by Dollar General on September 2, 2014, which the Board of Directors of Family Dollar unanimously rejected on September 5, 2014, on the basis of antitrust regulatory considerations. Howard R. Levine, Chairman and CEO of Family Dollar, said, “Our Board of Directors, with the assistance of outside advisors and consultants, reviewed all aspects of Dollar General’s tender offer and concluded unanimously that this highly conditional Offer is illusory because, as Dollar General is well aware, the Offer cannot close on the terms proposed. Tenders into the Dollar General Offer will be meaningless since there is no way that Dollar General can purchase shares that are tendered.” Levine added, “The terms of the Dollar General Offer are no different from those in its most recent unsolicited proposal, which was previously and unanimously rejected by our Board of Directors based on antitrust regulatory considerations. There is a very real and material risk that the transaction proposed by Dollar General would fail to close, after a lengthy and disruptive review process. Accordingly, our Board has rejected Dollar General’s tender offer and reaffirmed its support of the transaction with Dollar Tree, which delivers attractive value in the form of immediate upfront cash and upside participation in a combined Dollar Tree-Family Dollar entity, as well as closing certainty.” Ed Garden, a Family Dollar director and co-founder and Chief Investment Officer at Trian Fund Management, L.P., a large shareholder of the Company, stated, “We are focused on delivering to Family Dollar shareholders the highest value with certainty, and the Dollar Tree transaction does just that. Dollar Tree has taken the antitrust risk off the table by committing to divest as many stores as necessary to obtain antitrust clearance. We remain fully committed to the Dollar Tree transaction.”
08:27 EDTDGFamily Dollar board rejects Dollar General's 'illusory' tender offer
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07:27 EDTVODJazztel investor won't sell stake to Orange for proposed price, Reuters says
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