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Stock Market & Financial Investment News

News Breaks
January 17, 2013
10:02 EDTEXC, ALDW, MHK, JNPR, BIO, CBS, RIO, MCY, INFN, ADTN, AIZ, TAL, PKI, MDT, GTATOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Adtran (ADTN) upgraded to Neutral from Sell at Citigroup... Bio-Rad (BIO) upgraded to Outperform from Underperform at CLSA... GT Advanced (GTAT) upgraded to Hold from Underperform at Jefferies... Infinera (INFN) upgraded to Overweight from Neutral at JPMorgan... Juniper (JNPR) upgraded to Overweight from Neutral at JPMorgan... Medtronic (MDT) upgraded to Outperform from Neutral at Credit Suisse... Mercury General (MCY) upgraded to Outperform from Neutral at Macquarie... Mohawk (MHK) upgraded to Outperform from Underperform at Macquarie... PerkinElmer (PKI) upgraded to Buy from Outperform at CLSA... Rio Tinto (RIO) upgraded to Buy from Neutral at Citigroup... Alon USA Partners (ALDW) upgraded to Outperform from Neutral at Credit Suisse... TAL International (TAL) upgraded to Buy from Neutral at BofA/Merrill... CBS (CBS) upgraded to Outperform from Neutral at Wedbush... Exelon (EXC) upgraded to Overweight from Equal Weight at Morgan Stanley... Assurant (AIZ) upgraded to Market Perform from Underperform at Raymond James.
News For ADTN;BIO;GTAT;INFN;JNPR;MDT;MCY;MHK;PKI;RIO;ALDW;TAL;CBS;EXC;AIZ From The Last 14 Days
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August 24, 2015
08:11 EDTAIZeBay Motors partners with Assurant to extend warranties on purchase
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08:03 EDTEXCExelon announces outcome of 2018-19 PJM capacity auction
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August 21, 2015
17:29 EDTEXCPJM releases results for 2018-2019 PJM Interconnection capacity auction
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12:13 EDTJNPRBrocade soars after Q3 results top estimates
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10:02 EDTRIOOn The Fly: Analyst Initiation Summary
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08:53 EDTCBSAfter rough week, Disney shares expected to recover
With fears of cord cutting and declining advertising rates consuming the minds of investors and analysts this week, Disney (DIS) shares have dropped 7% over the past five trading days. Stepping out of the growing pack of bearish analysts is FBR Capital's Barton Crockett. ROUGH WEEK: On Tuesday, Wells Fargo analyst Marci Ryvicker downgraded her rating on Disney (DIS), CBS (CBS), 21st Century Fox (FOXA) to Market Perform from Outperform. None of the large media companies reported that their revenue from cable stations or broadcast networks increased in the most recent quarter, Ryvicker told investors. TV distributors have more favorable characteristics than the media companies, she argued. Then on Thursday, Bernstein analyst Todd Juenger downgraded Disney (DIS), along with Time Warner (TWX), to Market Perform from Outperform. The move by viewers away from ad-supported platforms to non-ad-supported services like Netflix (NFLX) will bring a "prolonged structural decline" to the U.S. television industry, Juenger contended. PATH TO RECOVERY: Sentiment is driving Disney and the media stocks lower, FBR Capital's Barton Crockett tells investors this morning in a research note titled "Performance Is the Best Defense: How Disney, Near Term, Can Separate from Peers." Cord cutting and advertising fears are taking down the valuation multiples in the media sector, but consensus earnings estimates are little changed, the analyst writes. Cord cutting is the term used to describe the dropping of cable or satellite TV in favor of an online streaming service. Crockett sees a number of "performance positives near term" that can help shares of Disney recover. The owner of ESPN can separate itself from peers with solid second half of 2015 advertising trends when football returns, he believes. Disney can also benefit from the retail push for Star Wars movie merchandise, starting with a midnight door-buster national product launch on September 4, the analyst writes. PETER OUT: Crockett expects cord-cutting fears to "peter out." Cable bundles broadband with TV, and most households have a sports fan, he points out. While Netflix takes audiences from non-sports content, sports will save the bundle subscription model that benefits Disney's ESPN unit, Crockett thinks. He has an Outperform rating on Disney with a $124 price target. The stock closed yesterday down $6.44, or 6%, to $100.01. Over the past three months, Disney is down over 9%.
08:19 EDTRIORio Tinto initiated with a Neutral at Axiom
August 20, 2015
09:17 EDTCBSDisney hit with another downgrade on TV concerns
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06:36 EDTCBSBernstein cuts Disney, Time Warner with TV entering 'structural decline'
Bernstein analyst Todd Juenger downgraded his rating on both Disney (DIS) and Time Warner (TWX) saying the U.S. television industry is entering a period of "prolonged structural decline." With viewers moving away from ad-supported platforms to non-ad-supported, media companies with the least exposure to U.S. advertising represent the most favorable investments, Juenger tells investors in a 48-page research note on the Media sector. The analyst moved both companies to a Market Perform rating from Outperform, and lowered his price target for Disney to $114 from $125 and for Time Warner to $90 from $101. He called the downgrade of Time Warner a "very close call" as his new price target still represents 15% upside from current levels. Share performance in the entire Media sector will be challenged until the content owners take steps to "reclaim on-demand viewing" from streaming services like Netflix (NFLX) and use it to protect affiliate fees, Juenger argues. His Outperform-rated names are Nielsen (NLSN) and 21st Century Fox (FOXA). Along with Time Warner and Disney, the analyst has Market Perform ratings on AMC Networks (AMCX), CBS (CBS), Scripps Networks (SNI) and Discovery (DISCA). Juenger has an Underperform rating on Viacom (VIAB). Wells Fargo on Tuesday also downgraded Disney to Market Perform. Piper Jaffray this morning told investors that the recent pullback in shares of AMC Networks brings a "great" entry point into the name.
August 19, 2015
10:35 EDTMHKMohawk management to meet with SunTrust
Meetings to be held in New York August 26-27 hosted by SunTrust.
07:08 EDTEXCExelon called 'clear value' ahead of PJM auction results at Deutsche Bank
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06:45 EDTRIOGlencore's second merger attempt with Rio Tinto less likely, AFR reports
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August 18, 2015
10:17 EDTCBSDisney downgraded as Wells moves away from content providers
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10:00 EDTINFNOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Abercrombie & Fitch (ANF) initiated with an Underperform at Wolfe Research... Abiomed (ABMD) initiated with a Buy at CRT Capital... Aeropostale (ARO) initiated with a Peer Perform at Wolfe Research... American Eagle (AEO) initiated with an Outperform, Top Pick at Wolfe Research... American Electric (AEP) initiated with a Buy at Mizuho... Benefitfocus (BNFT) initiated with an Overweight at First Analysis... Blue Buffalo Pet Products (BUFF) initiated with an Equal Weight at Morgan Stanley... Capitala Finance (CPTA) initiated with an Equal Weight at Stephens... Chico's (CHS) initiated with a Peer Perform at Wolfe Research... Children's Place (PLCE) initiated with an Outperform at Wolfe Research... Chimerix (CMRX) initiated with an Outperform at FBR Capital... Ciena (CIEN) initiated with a Market Perform at Northland... Crane (CR) initiated with an Outperform at William Blair... Entergy (ETR) initiated with a Neutral at Mizuho... Express (EXPR) initiated with an Outperform, Top Pick at Wolfe Research... Finisar (FNSR) initiated with a Market Perform at Northland... Francesca's (FRAN) initiated with a Peer Perform at Wolfe Research... Gap (GPS) initiated with an Underperform at Wolfe Research... Infinera (INFN) initiated with an Outperform at Northland... International Game (IGT) initiated with a Buy at Union Gaming... Juno Therapeutics (JUNO) initiated with an Outperform at FBR Capital... L Brands (LB) initiated with a Peer Perform at Wolfe Research... Luca Technologies (LUCA) initiated with an Outperform at Northland... Lumentum (LITE) initiated with an Outperform at Northland... M/A-COM (MTSI) reinstated with a Buy at Jefferies... MRV Communications (MRVC) initiated with an Outperform at Northland... Michael Kors (KORS) initiated with a Peer Perform at Wolfe Research... NN, Inc. (NNBR) initiated with a Buy at Stifel... NeoPhotonics (NPTN) initiated with an Outperform at Northland... Oclaro (OCLR) initiated with an Outperform at Northland... Scientific Games (SGMS) initiated with a Buy at Sterne Agee CRT... SolarCity (SCTY) initiated with a Neutral at UBS... Summit Materials (SUM) initiated with a Neutral at Citi... Tech Data (TECD) initiated with an Underperform at BofA/Merrill... Urban Outfitters (URBN) initiated with a Peer Perform at Wolfe Research... Zumiez (ZUMZ) initiated with an Underperform at Wolfe Research... lululemon (LULU) initiated with a Peer Perform at Wolfe Research.
10:00 EDTCBSOn The Fly: Analyst Downgrade Summary
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09:04 EDTJNPRJuniper selected by Joe Gibbs Racing to speed data center network transformation
Juniper Networks announced that four-car NASCAR team Joe Gibbs Racing selected its next-generation switching and security solutions to rev up the team's aging network infrastructure for better performance on and off the track.
07:13 EDTCBSCBS downgraded to Market Perform from Outperform at Wells Fargo
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07:12 EDTCBSDisney downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded Disney (DIS) to Market Perform with a $112-$119 price target range saying value is shifting from content to distribution. Wells also downgraded CBS (CBS) and 21st Century Fox (FOXA) this morning to Market Perform while cutting its Diversified Media sector view to Market Weight. Time Warner (TWX) remains its only Outperform-rated media stock. Shares of Disney closed yesterday up $1.88 to $109.05.
06:15 EDTINFNInfinera initiated with an Outperform at Northland
Northland initiated Infinera with an Outperform and $30 price target on shares.
August 17, 2015
08:32 EDTAIZOpen Mobile teams with Assurant to offer mobile device trade-in in Puerto Rico
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