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Stock Market & Financial Investment News

News Breaks
March 29, 2012
10:20 EDTADS, RIG, WFC, PNR, JWN, GBDC, DLPH, DK, AINV, HEROOn 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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October 14, 2014
10:01 EDTDLPHOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AU Optronics (AUO) upgraded to Neutral from Sell at UBS... Antero Resources (AR) upgraded to Buy from Accumulate at KLR Group... BHP Billiton (BHP) upgraded to Neutral from Underperform at Credit Suisse... Bill Barrett (BBG) upgraded to Buy from Accumulate at KLR Group... BorgWarner (BWA) upgraded to Buy from Neutral at Goldman... CRH Plc. (CRH) upgraded to Buy from Neutral at Citigroup... Comstock Resources (CRK) upgraded to Buy from Accumulate at KLR Group... Cracker Barrel (CBRL) upgraded at Argus... Delphi Automotive (DLPH) upgraded to Buy from Neutral at Goldman... EOG Resources (EOG) upgraded at Bernstein... Eaton (ETN) upgraded to Overweight from Equal Weight at Barclays... Energizer (ENR) upgraded to Outperform from Market Perform at Wells Fargo... Energy Transfer Equity (ETE) upgraded to Outperform at RW Baird... Federal-Mogul (FDML) upgraded to Neutral from Sell at Goldman... Ford (F) upgraded to Neutral from Underperform at Buckingham... Gulfport Energy (GPOR) upgraded to Accumulate from Hold at KLR Group... Halcon Resources (HK) upgraded to Buy from Hold at KLR Group... HeartWare (HTWR) upgraded to Overweight from Neutral at Piper Jaffray... Helmerich & Payne (HP) upgraded to Outperform at FBR Capital... Legg Mason (LM) upgraded to Neutral from Underperform at BofA/Merrill... Level 3 (LVLT) upgraded to Buy from Hold at Gabelli... Magnum Hunter (MHR) upgraded to Buy from Hold at KLR Group... NetScout (NTCT) upgraded at DA Davidson... Netflix (NFLX) upgraded to Buy with $600 target at BTIG... Newfield Exploration (NFX) upgraded to Buy from Hold at KLR Group... Nielsen (NLSN) upgraded at Bernstein... Orbitz (OWW) upgraded to Outperform from Market Perform at FBR Capital... PDC Energy (PDCE) upgraded to Buy from Hold at KLR Group... Rackspace (RAX) upgraded to Buy from Hold at Evercore... Range Resources (RRC) upgraded to Accumulate from Hold at KLR Group... Rex Energy (REXX) upgraded to Buy from Accumulate at KLR Group... SM Energy (SM) upgraded to Buy from Accumulate at KLR Group... Sanchez Energy (SN) upgraded to Buy from Accumulate at KLR Group... Targa Resources (TRGP) upgraded to Buy from Accumulate at Tudor Pickering... Unilife (UNIS) upgraded to Buy from Neutral at Ladenburg... Universal Forest (UFPI) upgraded at Sterne Agee.
09:40 EDTWFCWells Fargo sees operating within 55%-59% efficiency ratio range in Q4
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09:13 EDTWFCOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Johnson & Johnson (JNJ), up 1%... Dominos Pizza (DPZ), up 2.7%. ALSO HIGHER: Citigroup (C), up 2.5% following earnings report, announcement of plans to exit consumer businesses in 11 markets... MagneGas (MNGA), up 14% after signing Letter of Intent with Pioneer Recycling... Skyworks (SWKS), up 6% after raising its outlook for Q4. Shares of peers Avago (AVGO), NXP Semiconductors (NXPI) and RF Micro Devices (RFMD) are also moving higher in pre-market trading after Skyworks pointed to "broad-based strength" of its business in raising its outlook... Halcon Resources (HK), up 6% after upgraded at KLR Group... Quantum (QTM), up 8.8% after issuing Q2 earnings guidance. LOWER: Wells Fargo (WFC), down 1.4% after reporting in-line Q3 earnings... JPMorgan (JPM), down 1.8% after Q3 headline earnings miss... Las Vegas Sands (LVS), down 1% following downgrade at BofA Merrill Lynch.
08:16 EDTWFCWells Fargo reports book value per share $31.55 at quarter end
Reports Q3 net interest margin 3.06%, down from 3.15% at June 30 and down from 3.39% in prior year period.
08:14 EDTWFCWells Fargo reports Q3 Home Lending orignations $48B
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08:09 EDTWFCWells Fargo continues to see signs of steadily improving economy
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08:08 EDTWFCWells Fargo reports $300M reserve release due to improved credit quality
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08:03 EDTWFCWells Fargo reports Q3 EPS $1.02, consensus $1.02
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07:32 EDTADSAlliance Data business signs agreement with Katz Group Canada
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06:10 EDTDLPHDelphi Automotive upgraded to Buy from Neutral at Goldman
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October 13, 2014
16:33 EDTGBDCGolub Capital announces $331.5M in new middle-market orginations in Q4
Golub Capital announced that it originated $331.5M in new middle-market investment commitments during the three months ended September 30. Approximately 11% of the new middle-market investment commitments were senior secured loans, 81% were one stop loans, 6% were second lien and 2% were equity securities. Of the new middle-market investment commitments, $293.5M funded at close. In addition, during the three months ended September 30, Golub Capital invested $1.1M in Senior Loan Fund LLC, an unconsolidated Delaware limited liability company that invests in senior secured loans and is co-managed by Golub Capital and RGA Reinsurance Company. Total investments at fair value are estimated to have increased by $22.7M during the three months ended September 30, 2014 after factoring in debt repayments, sales of securities, net fundings on revolvers, and net change in unrealized gains (losses). Total investments at fair value held by SLF are estimated to have decreased by approximately $0.5M after factoring in debt repayments, sales of securities, net fundings on revolvers, and net change in unrealized gains (losses).
15:24 EDTWFCNotable companies reporting before tomorrow's open
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13:40 EDTWFCWells Fargo October volatility increases into Q3 and guidance
Wells Fargo October call option implied volatility is at 31, November is at 20, January is at 19; compared to its 26-week average of 16 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on October 14.
10:06 EDTDLPHAmerican Capital sells Unwired Holdings to Delphi Automotive for $138M
American Capital (ACAS) announced that its portfolio company Unwired Holdings, parent to Unwired Technology, was sold to Delphi Automotive (DLPH). American Capital and its affiliated fund received $176M in debt and equity proceeds and realized a gain of $70M from the transaction, subject to post-closing adjustments. Of the total proceeds, American Capital received $138M in debt and equity proceeds, realizing a gain of $53M from the transaction, subject to post-closing adjustments. American Capital's compounded annual rate of return earned on its debt and equity securities over the life of its investment was 16%, including interest, dividends, realized gains and fees. American Capital received 2.4 times its equity investment and realized a compounded annual rate of return of 17% over the life of its equity investment, including dividends, realized gains and fees.
07:19 EDTWFCAmEx, Capital One profits seen boosted by credit card 'sweet spot,' WSJ says
Credit card players such as American Express (AXP) and Capital One (COF), as well as banks with significant card units like JPMorgan (JPM), stand to benefit from the U.S. card industry's "sweet spot" of moderate economic growth, low interest rates and consumers who are better managing payments while growing their spending, said The Wall Street Journal, which noted that consulting firm R.K. Hammer estimates U.S. card issuers' revenue will grow 9% this year to $158.6B. Other U.S. banks with credit card units include Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC) and other card companies include Visa (V) and MasterCard (MA). Reference Link
06:44 EDTWFCRegulators seeking banks' auto loan data, Reuters reports
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00:04 EDTWFCBanking regulators want more disclosure on auto loans, Reuters says
Banking regulators are requesting that banks provide more details on their auto loan portfolios, says Reuters. Balances remaining on auto loans are rising and about a fifth of the loans are subprime, added Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Capital One (COF), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
October 12, 2014
17:27 EDTDLPHBorgWarner, Delphi Automotive, Gentex look cheap, Barron's says
BorgWarner (BWA), Delphi Automotive (DLPH), Gentex (GNTX), look cheap and promising, Barron's contends in a feature article. Reference Link
13:03 EDTWFCBanks agree on derivatives procedures for future crisis scenario, WSJ says
Meeting at the Federal Reserve in Washington, top banking executives from 18 large U.S., European and Japanese banks agreed in principle to wait up to 48 hours before seeking to terminate derivatives contracts and collect associated payments from a troubled financial institution, says the Wall Street Journal. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
October 10, 2014
06:44 EDTWFCWells Fargo to pay $5M to settle discrimination allegations
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