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Stock Market & Financial Investment News

News Breaks
March 29, 2012
10:20 EDTWFC, GBDC, AINV, HERO, PNR, DLPH, ADS, RIG, JWN, DKOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Alliance Data Systems (ADS) upgraded to Outperform at Keefe Bruyette...Apollo Investment (AINV) upgraded to Outperform from Market Perform at Wells Fargo...Delek US Holdings (DK) upgraded to Outperform from Neutral at Credit Suisse...Delphi Automotive (DLPH) upgraded to Buy from Neutral at Citigroup...Golub Capital (GBDC) upgraded to Outperform from Market Perform at Wells Fargo...Nordstrom (JWN) upgraded to Buy from Neutral at Goldman...Pentair (PNR) upgraded to Outperform from Market Perform at William Blair...Wells Fargo (WFC) upgraded to Buy from Neutral at Nomura...Transocean (RIG) upgraded to Outperform from Underperform at CLSA...Hercules Offshore (HERO) upgraded to Buy from Underperform at CLSA.
News For ADS;AINV;DK;DLPH;GBDC;JWN;PNR;WFC;RIG;HERO From The Last 14 Days
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July 22, 2015
08:38 EDTJWNNRF cuts 2015 retail sales growth forecast to 3.5% from 4.1%
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07:06 EDTPNRPentair downgraded to Market Perform from Outperform at William Blair
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06:06 EDTPNRPentair downgraded to Hold from Buy at Jefferies
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05:22 EDTAINVApollo Investment downgraded to Equal Weight from Overweight at Barclays
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July 21, 2015
11:05 EDTDLPHAfter Jeep hacked, analyst predicts cybersecurity boosts for Harman, Delphi
After Jeep hacked, analyst predicts cybersecurity boosts for Harman, Delphi The shares of Harman (HAR) and Delphi Automotive (DLPH) are rising after Wells Fargo predicted that the companies would benefit from the increasing need to protect cars from cybersecurity attacks after Wired reported on hackers discovering methods that can be used to take control of vehicles. BACKGROUND: Two computer hacking researchers showed that they could seize control of a Jeep Cherokee, made by Fiat Chrysler (FCAU), using a technique called a zero-day exploit, Wired reported today. Using the same technique, the hackers can control "any of thousands of vehicles," the website reported. In the past, they have demonstrated how they were able to take control of a Ford (F) Escape and Toyota (TM) Prius, according to Wired. The hackers' technique involves taking control of vehicles' entertainment systems and sending commands to the vehicles' dashboard functions, steering, brakes, and transmission through their those systems, the website stated. ANALYST REACTION: In a note to investors today, Wells Fargo analyst David Lim responded to Wired's article by saying that cybersecurity has become a significant concern for automakers. Automotive technology suppliers such as Harman (HAR) and Delphi (DLPH) should benefit from auto makers' efforts to protect their vehicles from cyberattacks, Kwas believes. He reiterated Outperform ratings on Harman and Delphi. PRICE ACTION: In morning trading, Harman climbed about 2% to $108 and Delphi rose fractionally to $78.15. This version of the story replaces an earlier one to correct the lead analyst to David Lim.
09:41 EDTDLPHHarman, Delphi to benefit from car security concerns, says Wells Fargo
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07:12 EDTPNRPentair sees Q3 EPS 94c-97c, consensus $1.01
Sees Q3 revenue approximately $1.6B, consensus $1.62B. The company expects Q3 revenue to be approximately $1.6B, which would be down approximately 8%-9% on a reported basis and down 2%-3% on a core basis compared to Q3 of FY14 revenue. Going forward, Pentair will exclude non-cash amortization from adjusted EPS guidance to better reflect the company's performance.
07:11 EDTPNRPentair updates FY15 adj. EPS view to $3.80-$3.90 from $3.80, consensus $3.72
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07:07 EDTPNRPentair reports Q2 adjusted EPS 96c, consensus 95c
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July 20, 2015
15:01 EDTPNRNotable companies reporting before tomorrow's open
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13:03 EDTWFCFed proposes final rule on capital surcharges for largest U.S. banks
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July 19, 2015
19:12 EDTWFCFederal Reserve proposes changes to 'stress test' regulations
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July 17, 2015
18:08 EDTWFCPredatory lending lawsuits against Wells Fargo dismissed, Reuters says
Wells Fargo won the dismissal of two lawsuits that had accused the company of violating the federal Fair Housing Act by engaging in predatory lending practices in Los Angeles and Chicago, Reuters reports. Reference Link
16:41 EDTWFCStocks end week higher as Google, Greece bring out the buyers
Stocks ended the week higher and the major averages are back at record highs after Iran agreed to a nuclear deal, Greece's parliament paved the way for the country to receive another bailout by agreeing to new austerity measures and Google (GOOG) gave investors hope that earnings from tech's other heavyweights will be similarly better than expected. MACRO NEWS: In the U.S., retail sales unexpectedly fell 0.3% in June, versus the consensus forecast for growth of 0.3%. The producer prices index showed prices rose 0.4% in June, versus expectations for an increase of 0.2%. The consumer price index rose a seasonally adjusted 0.3% in June from a month earlier, matching the consensus forecast. Compared with last year, consumer prices rose 0.1%, marking the first annual increase since December. Housing starts rose 9.8% to a 1.17M rate in June and building permits rose 7.4% to a 1.34M pace, both of which topped expectations. The NAHB homebuilder sentiment index for July came in at 60, a point better than forecast. The University of Michigan's consumer sentiment reading dropped to 93.3 in the preliminary July figure, which was below the 96.0 reading that was expected. During testimony before Congress, Federal Reserve Chair Janet Yellen stayed on message, stating that the central bank is on track to raise record-low interest rates this year, so long as the labor market and the economy keep improving... In China, exports rose 2.1% from a year earlier during June and imports dropped 6.7%, leaving a trade surplus of $45.8B for the month, the nation's customs administration reported. The nation's GDP was reported to have grown 7% in the second quarter from a year earlier, beating the consensus expectation for growth of 6.8%... In Europe, Greek lawmakers passed the country's austerity agreement and Euro-area finance ministers reportedly agreed in principle to extend a bridge loan to Greece. The loan should help keep Greece afloat while its Prime Minister negotiates the details of the country's latest bailout... Iran reached a deal on restrictions and inspections intended to prevent it from developing nuclear weapons in exchange for the lifting of economic sanctions by six world powers. The agreement still faces a political fight in the U.S. before taking effect, but President Barack Obama has vowed to veto any congressional effort to block its implementation. COMPANY NEWS: Class A shares of Google (GOOG, GOOGL) surged at the end of the week after the search giant reported better than expected revenues and earnings in the second quarter. Research firms all over Wall Street raised their price targets on the stock in the wake of the report... Netflix (NFLX) rallied to a split-adjusted all-time high after the streaming service operator reported stronger than expected second quarter results, including higher than expected Q2 subscriber metrics, prompting a large number of research firms to raise their price targets on the stock... Many of the nation's largest banks reported on their results in the second quarter this week. JPMorgan (JPM), Bank of America (BAC) and Citigroup (C) all posted quarterly profits, excluding certain items, that beat the average estimates of analysts. Wells Fargo (WFC) reported earnings in-line with consensus estimates and revenue somewhat below expectations, while Goldman Sachs (GS) reported headline earnings that appeared to fall far short of the consensus forecast. However, that was due to Goldman's nearly $1.5B in provisions for litigation and regulatory matters. Excluding those provisions, the bank's earnings were ahead of consensus... On the M&A front, Receptos (RCPT) advanced after Celgene (CELG) announced a deal to buy the smaller drugmaker for $232 per share in cash, or a total of about $7.2B net of cash acquired. A number of research firms applauded the deal, especially noting the price Celgene agreed to pay, but cautioned that a rival bidder may still emerge for Receptos. Marathon Petroleum (MPC) gained after MPLX (MPLX), the company's fee-based master limited partnership, agreed to acquire MarkWest Energy (MWE) in a cash and stock deal that implies a total enterprise value for MarkWest of approximately $20B, including the assumption of debt of approximately $4.2B. Micron (MU) rose after The Wall Street Journal reported that China's state-owned Tsinghua Unigroup had offered to acquire the memory chip maker for $23B, or $21 per share... Shares of Twitter (TWTR) spiked Tuesday morning after a questionable takeover report was published on a website that mimicked, but had a different web address, than Bloomberg News. A Bloomberg spokesman said soon afterward that the Twitter takeover story being attributed to the news service was a fake, while a Twitter spokesperson also denied the report of an alleged deal... Macy's (M) jumped after Starboard CEO Jeffrey Smith called the stock his "best idea" for 2015, adding that the shares could be worth $125 each if the company takes steps to maximize the value of its real estate holdings. Amazon (AMZN) announced it sold more units on its first "Prime Day" than the biggest Black Friday ever and had more new members try its Prime service worldwide than any single day in company history. The e-commerce giant noted that its worldwide order growth increased 266% over the same day last year and 18% more than Black Friday 2014, adding that it will "definitely be" doing another Prime Day in the future. A number of semiconductor equipment stocks, including Applied Materials (AMAT) and Lam Research (LRCX), dropped after Intel (INTC) cut its capital expenditures guidance while reporting on its quarterly results. INDEXES: For the week, the Dow gained about 1.05% to close at 18,086.45, the Nasdaq advanced about 3.37% to close at 5,210.14, and the S&P 500 rose about 1.67% to close at 2,126.64.
14:00 EDTWFCEarnings Watch: Morgan Stanley rounds out quarterly results for financial firms
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July 16, 2015
13:52 EDTDLPHGM slips after Barclays downgrades auto sector on China downturnbw
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10:00 EDTDLPHOn The Fly: Analyst Downgrade Summary
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07:33 EDTDLPHDelphi downgraded to Equal Weight from Overweight at Barclays
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July 15, 2015
11:00 EDTWFCWells Fargo to host investor meeting
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07:36 EDTADSAlliance Data reports June average receivables up 33% to $11.09B
Reports June net charge-offs as percentage of receivables 4.4% vs. 4.5% last month. Reports June net charge-offs $40.21M. Reports June delinquency rate 4.1% vs. 3.9% last month.
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