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Stock Market & Financial Investment News

News Breaks
February 5, 2014
10:04 EDTENTG, WDR, STLD, MYGN, GTN, BLK, ADM, PH, WAIR, VALE, SSRI, MBT, FNFG, BDX, ZION, Z, TYG, PCAR, LAMR, CNC, BBVAOn the Fly: Analyst Upgrade Summary
Archer Daniels (ADM) upgraded to Outperform from Sector Perform at Scotia Capital... Banco Bilbao (BBVA) upgraded to Overweight from Neutral at HSBC... Becton Dickinson (BDX) upgraded to Market Perform from Underperform at Raymond James... BlackRock (BLK) upgraded to Positive from Neutral at Susquehanna... Centene (CNC) upgraded to Neutral from Sell at Citigroup... First Niagara (FNFG) upgraded to Neutral from Sell at Citigroup... Gray Television (GTN) upgraded to Outperform from Market Perform at Wells Fargo... Lamar Advertising (LAMR) upgraded to Buy from Neutral at Citigroup... Mobile TeleSystems (MBT) upgraded to Neutral from Underperform at Credit Suisse... Myriad Genetics (MYGN) upgraded to Market Perform from Underperform at JMP Securities... PACCAR (PCAR) upgraded to Outperform from Neutral at RW Baird... Silver Standard (SSRI) upgraded to Hold from Sell at Deutsche Bank... Steel Dynamics (STLD) upgraded to Buy from Hold at Jefferies... Tortoise Energy (TYG) upgraded to Buy from Hold at Stifel... Vale (VALE) upgraded to Overweight from Equal Weight at Morgan Stanley... Waddell & Reed (WDR) upgraded to Buy from Neutral at Citigroup... Wesco Aircraft (WAIR) upgraded to Neutral from Sell at UBS... Zillow (Z) upgraded to Buy from Fair Value at CRT Capital... Entegris (ENTG) upgraded to Buy from Hold at Craig-Hallum... Zions Bancorp (ZION) upgraded to Buy from Neutral at DA Davidson... Parker-Hannifin (PH) upgraded to Buy from Neutral at MKM Partners.
News For ADM;BBVA;BDX;BLK;CNC;FNFG;GTN;LAMR;MBT;MYGN;PCAR;SSRI;STLD;TYG;VALE;WDR;Z;WAIR;ENTG;ZION;PH From The Last 14 Days
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August 31, 2015
10:02 EDTWAIROn The Fly: Analyst Initiation Summary
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06:44 EDTWAIRWesco Aircraft initiated with a Market Perform at Cowen
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06:32 EDTVALESouthern Copper downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Rodolfo Angele downgraded Southern Copper (SCCO) to Neutral after the firm cut its nickel and copper price estimates to reflect soft demand in China and a lack of rebound in Western European and North American demand. Angele cut his price target for shares to $31.50 from $37. He also lower his price target for Vale (VALE) to $5.50 from $7.50 and kept a Neutral rating on the name.
August 30, 2015
12:42 EDTPCARAmerican Airlines, others look like underappreciated bargains, Barron's says
Shares of American Airlines (AAL), Coach (COH), PACCAR (PCAR), and CA Technologies (CA) not only look cheap but pay dividends, thereby rewarding patient investors willing to wait for rebounds, Barron's contends in a feature article. All four firms are generating "healthy" return on capital, suggesting operations are stronger than traders believe, Barron's argues. Reference Link
12:33 EDTBLKDividend-rich blue chips look attractive amid market volatility, Barron's says
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August 27, 2015
10:33 EDTVALEFreeport McMoRan surges after further cut to capital spending plans
Shares of Freeport-McMoRan (FCX) are surging in morning trading after the company announced plans to cut spending and production in response to current market conditions. It also plans to cut about 10% of employees and contractors at U.S. mining operations. WHAT'S NEW: Freeport-McMoRan this morning reduced its 2016 capital expenditure budget to $4B, approximately 29% lower than the $5.6B estimate on July 23, which it said reflects "aggressive" actions in response to current market conditions. The 2016 CapEx outlook includes $1.4B in mining projects, $600M in mining sustaining capital and $2B in oil and gas expenditures. The company said it will reduce copper sales by about 150M pounds per year in 2016 and 2017 and cut 2016 unit site production by 20%. Additionally, the company plans to reduce 2016 minerals exploration costs to $50M from $100M. Freeport also said it expects a 10% reduction in employees and contractors at U.S. mining operations. The company cited recent declines in copper prices for the reductions and said the actions announced today are the results of the previously announced review of operating plans for its mining business. Freeport said it views the long-term outlook for its business "positively," helped by limitations on copper supply. In the near-term, however, Freeport said it will continue to monitor market conditions and capital spending, but is currently "adjusting operations to maximize current cash flow under weak market conditions while preserving its large mineral resources and growth options for the longer term." WHAT'S NOTABLE: Since late 2014, Freeport has cut its 2015 capital expenditure budget to $6.3B from $7.5B, including reductions of $700M in oil and gas expenditures and $500M in mining expenditures. Earlier this month, Freeport cuts its oil and gas capital budgets for 2016 and 2017 by $900M each in response to market conditions and maintained its expectations for $2.8B in O&G CapEx for this year. In July, after reporting its second straight quarterly loss, Freeport said its cost reduction plans would include potential adjustments to mine plans and future copper and molybdenum production volumes to reduce costs and preserve valuable resources for anticipated improved market conditions in the future. Freeport previously commented that it would pursue additional capital cost reductions, potential additional divestitures or monetizations and other actions as required to maintain a strong balance sheet while preserving a strong resource position. PRICE ACTION: Freeport-McMoRan is up 16.5% to $9.22 in morning trading. Shares are down over 60% year to date. OTHERS TO WATCH: Other major integrated mining companies include Rio Tinto (RIO), BHP Billiton (BHP) and Vale S.A. (VALE).
August 26, 2015
10:11 EDTSTLDHigh option volume stocks
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10:00 EDTZION, PCAROn The Fly: Analyst Upgrade Summary
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09:33 EDTVALEActive equity options trading on open
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09:20 EDTBDXFluidigm has negative read through from Becton Dickinson deal, says Leerink
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09:01 EDTBLKBlackRock to acquire FutureAdvisor, terms not disclosed
BlackRock has entered into a definitive agreement to acquire FutureAdvisor. FutureAdvisor will operate as a business within BlackRock Solutions. The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2015. The financial impact of the transaction is not material to BlackRock earnings per share. Terms were not disclosed.
07:39 EDTBLK, WDRPiper Jaffray lowers estimates for asset managers below consensus
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07:35 EDTZIONZions Bancorp upgraded to Outperform from Market Perform at Bernstein
Bernstein upgraded Zions based on valuation and its belief that the bank could distribute excess capital. Target to $32 from $30.
06:44 EDTPCARPACCAR upgraded to Overweight from Neutral at Piper Jaffray
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August 25, 2015
16:09 EDTBDXBecton Dickinson unit acquires Cellular Research to develop genomics platform
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07:41 EDTMYGNMyriad Genetics upgraded on positive risk/reward at Wells Fargo
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07:29 EDTBDXBecton Dickinson acquisition positive, says Stifel
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06:22 EDTMYGNMyriad Genetics upgraded to Outperform from Market Perform at Wells Fargo
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August 23, 2015
12:50 EDTBLKBlackRock shares could return 20% in one year, Barron's says
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August 20, 2015
08:03 EDTCNCCentene subsidiary wins statewide foster care contract
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