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Stock Market & Financial Investment News

News Breaks
February 25, 2014
10:00 EDTAEE, THC, MNST, PANW, TREX, VVUS, RGLD, RP, RFMD, PAAS, MWE, GBX, FSRV, BAGL, BAS, HSBCOn The Fly: Analyst Downgrade Summary
Ameren (AEE) downgraded to Equal Weight from Overweight at Barclays... Basic Energy (BAS) downgraded to Underperform from Hold at Jefferies... Einstein Noah (BAGL) downgraded to Neutral from Overweight at Piper Jaffray... FirstService (FSRV) downgraded to Market Perform from Outperform at JMP Securities... Greenbrier (GBX) downgraded to Hold from Buy at Stifel... HSBC (HSBC) downgraded to Neutral from Buy at Citigroup... MarkWest Energy (MWE) downgraded to Hold from Buy at Jefferies... Pan American Silver (PAAS) downgraded to Sell from Neutral at Goldman... RF Micro Devices (RFMD) downgraded to Hold from Buy at Canaccord... RealPage (RP) downgraded to Sector Perform from Outperform at RBC Capital... Royal Gold (RGLD) downgraded to Sector Performer from Outperformer at CIBC... VIVUS (VVUS) downgraded to Neutral from Overweight at JPMorgan... Trex Company (TREX) downgraded to Equal Weight from Overweight at Stephens... Palo Alto (PANW) downgraded to Hold from Buy at Gabelli... Monster Beverage (MNST) downgraded to Underperform from Neutral at Longbow... Tenet (THC) downgraded to Fair Value from Buy at CRT Capital... HSBC (HBC) downgraded to Neutral from Overweight at JPMorgan.
News For AEE;BAS;BAGL;FSRV;GBX;MWE;PAAS;RFMD;RP;RGLD;VVUS;TREX;PANW;MNST;THC;HSBC From The Last 14 Days
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July 18, 2014
09:24 EDTRPOn The Fly: Pre-market Movers
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08:20 EDTRPRealPage downgraded at JMP Securities
As noted earlier, JMP Securities downgraded RealPage to Market Perform from Outperform. The firm downgraded the stock following the company's Q2 results which the firm found "very disappointing."
06:25 EDTRPRealPage downgraded to Underperform from Outperform at William Blair
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06:22 EDTRPRealPage downgraded to Market Perform from Outperform at JMP Securities
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July 17, 2014
18:31 EDTRFMD, RPOn The Fly: After Hours Movers
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17:48 EDTRPRealPage reports preliminary Q2 non-GAAP revenue $93.8M-$94.8M
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07:21 EDTPANWPalo Alto price target raised to $105 from $90 at Pacific Crest
Pacific Crest increased its price target on Palo Alto as the firm touts what it sees as the company's strong fundamentals, fastest ramping profitability in enterprise IT and emerging opportunities. The firm keeps an Outperform rating on the shares.
July 16, 2014
16:24 EDTTHCOn The Fly: Closing Wrap
Stocks on Wall Street started the trading day higher, thanks in part to solid earnings reports from some of the nationís largest companies as well as a proposed mega-merger in the entertainment industry. Investors preparing for the next round of earnings after the close, which includes reports from eBay (EBAY), Yum! Brands (YUM), and Las Vegas Sands (LVS), did so with the Dow at a new all-time high. ECONOMIC EVENTS: In the U.S., the Producer Price Index for June rose 0.4%, which was ahead of expectations for a 0.2% increase. Industrial production grew 0.2% in June, missing the forecast for 0.3% growth. The NAHB homebuilder confidence index rose to 53 in July, ahead of expectations for it to tick up 1 point to 50. Economic activity expanded in all regions of the country at a moderate to modest pace in recent weeks, the Fed reported today in its Beige Book. Consumer spending rose in every region, as retail sales grew modestly in most areas and vehicle sales were stronger than sales of most other products, the central bank reported. COMPANY NEWS: Shares of HBO and Warner Bros. parent Time Warner (TWX) surged $12.12, or 17.07%, to $83.13 after it was reported by CNBC and DealBook's Andrew Ross Sorkin that the company had received, and rejected, a takeover offer worth about $80B, or $85 per share, from Rupert Murdoch's Twenty-First Century Fox (FOXA). Both Time Warner and Fox subsequently confirmed the report, with Time Warner stating that it rejected the bid since it was "not in the best interests of stockholders" and Fox noting that the companies are not currently in discussions. Afterward, research firm Jefferies said it believes 21st Century Fox could raise its bid for Time Warner into the mid-to-upper $90's per share, but it also thinks that Time Warner would still be unlikely to accept the offer. Meanwhile, FBR Capital said Fox could pay up to $120 for Time Warner and still make an accretive deal. Class A shares of Twenty-First Century Fox ended the day down $2.19, or 6.22%, to $33.00... Shares of Apple (AAPL) initially rose after announcing last night that it would collaborate with IBM (IBM) to provide mobile solutions for businesses. Goldman Sachs analyst Bill Shope wrote in a note to investors that the deal with IBM is clearly positive for Apple, as it validates the "unique enterprise capabilities" of iOS, which has a lack of fragmentation that makes it uniquely suited for organizations. BlackBerry (BBRY), which has a focus on mobile devices for business use, slid $1.33, or 11.77%, to $9.97 after the tech giants announced their new partnership. Apple closed down 54c, or 0.57%, to $94.78, though IBM (IBM), which reports after tomorrow's close, climbed $3.87, or 2.05%, to $192.36. MAJOR MOVERS: Among the notable gainers was Intel (INTC), which advanced $2.94, or 9.27%, to $34.65 after the semiconductor giant's second quarter results beat analysts' consensus estimates. Also higher was Tenet Healthcare (THC), which rallied $3.74, or 8.32%, to $48.71 after after another company in the hospital sector, HCA Holdings (HCA), pre-announced stronger than expected second quarter results. For its part, HCA rose $5.78, or 10.47%, to $60.99 after providing better than expected Q2 guidance and increasing its fiscal year outlook. Among the noteworthy losers was Yahoo (YHOO), which fell $1.82, or 5.11%, to $33.79 after the company's second quarter results fell short of analysts' consensus estimates. The company also said it will lower the amount of stock it will sell in Alibaba's initial public offering to 140M shares and that it plans to return "at least half" of its after-tax proceeds from the stake sale to its shareholders. Also lower were shares of Ross Stores (ROST), which fell $3.12, or 4.78%, to $62.15 after Sterne Agee downgraded its stock to Neutral from Buy and cut its price target for shares to $68 from $81, citing negative traffic trends and low visibility. INDEXES: The Dow rose 77.52, or 0.45%, to 17,138.20, the Nasdaq gained 9.58, or 0.22%, to 4,425.97, and the S&P 500 advanced 8.29, or 0.42%, to 1,981.57.
14:55 EDTPAASPan American Silver says union at San Vicente mine on strike
Pan American Silver today announced that its union at the Company's San Vicente mine in Bolivia has gone on strike, effectively shutting down the entire operation. Personnel access has been restricted to only those needed to ensure maintenance of critical systems necessary to allow for a smooth restart, the company said. The work stoppage started on the evening of Monday, July 7, 2014 and all production activities at the mine have ceased since that date, it added.
13:06 EDTPANWIT security stocks advance after upbeat Goldman note
Shares of a number of IT security stocks are rallying after Goldman Sachs wrote that it was upbeat on the sector in a note to investors today. WHAT'S NEW: Goldman Sachs analyst Matthew Niknam assumed coverage of the Security Software sector with an Attractive rating. Cyber threats have become larger and more costly, so many companies are increasing the amount of money they spend on IT security, Niknam wrote. Spending on security is increasing by the highest rate since 2010, the analyst estimated. Companies in the sector should see their free cash flow growth accelerate, while cash rich tech companies could become interested in carrying out M&A transactions with security vendors, the analyst predicted. Additionally, more mature companies in the sector should be able to buy back more of their shares going forward, Niknam believes. He identified Palo Alto (PANW) as his top pick in the space, as he believes that the company provides "the most unique blend of disruptive long-term growth and accelerating profitability." The company is poised to gain additional market share, while its growth going forward should beat expectations, Niknam stated. He raised his price target on the shares to $97 from $91 and kept a Conviction List-Buy rating on the stock. Meanwhile, the analyst upgraded another stock in the sector, FireEye (FEYE), to Buy from Neutral after assuming coverage of the shares. The company's status as the market leader in fighting Advanced Persistent Threats, or APTs, leaves it well-positioned in the current market, he contended. An IT survey indicates that most respondents plan to increase their APT-related spending, and 59% of the respondents say they plan to spend more money on solutions from a new vendor, Niknam reported. Furthermore, FireEye's revenue growth likely accelerated in Q2 and its revenue should beat expectations in 2014 and 2015, while the company's free cash flow should come in above consensus levels next year, Niknam predicted. FireEye may eventually be acquired by another company, according to Niknam, who raised his price target on the shares to $42 from $36. WHAT'S NOTABLE: Niknam initiated coverage of Proofpoint (PFPT) with a Buy rating as he predicted that the company's growth and free cash flow would beat expectations in the near-term and he believes that the company could also become a takeover target. The analyst started coverage of Fortinet (FTNT) with a Neutral rating. PRICE ACTION: In early afternoon trading, Palo Alto climbed 3% to $78.36, FireEye rose 3.5% to $34.99, Proofpoint climbed 3.6% to $34.46, and Fortinet rose 1% to $24.24.
12:26 EDTTHCOn The Fly: Midday Wrap
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10:51 EDTTHCHospitals advance after HCA preliminary results beat expectations
Shares of a number of hospital stocks are rising after one of the companies in the sector, HCA Holdings (HCA), preannounced stronger than expected second quarter results. WHAT'S NEW: HCA Holdings estimated that its Q2 EPS would come in at $1.07, versus analysts' consensus forecast of 92c. The hospital operator estimated that its Q2 revenue would be $9.23B, versus the consensus estimate of $8.86B. Moreover, HCA hiked its fiscal 2014 EPS guidance, excluding certain items, to $4.00-$4.25 from its prior view of $3.45-$3.75. The company added that its same facility admissions had risen 1.2% during Q2 versus the same period a year earlier, while same facility revenue per equivalent admission is expected to jump about 5.4%. ANALYST REACTION: In a note to investors earlier today, Wells Fargo analyst Gary Lieberman stated that it's possible that the Affordable Care Act was responsible for most of the amount by which the company's EPS beat the consensus outlook. As a result, he thinks that the company's full-year guidance appears "rather conservative." The analyst kept an Outperform rating on HCA shares. PRICE ACTION: In mid-morning trading, Community Health (CYH) surged 8% to $46, Tenet (THC) rallied 7.5% to $48.33, Universal Health (UHS) climbed 5% to $96.44, and LifePoint (LPNT) advanced 6% to $65.06, and HCA Holdings gained 7.8% to $59.50.
10:00 EDTPANW, BASOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: American Airlines (AAL) initiated with an Overweight at Atlantic Equities... Apple (AAPL) initiated with a Buy at Citigroup... Basic Energy (BAS) initiated with a Neutral at RW Baird... Brookdale Senior Living (BKD) initiated with a Buy at Goldman... CA Technologies (CA) initiated with a Market Perform at FBR Capital... Dresser-Rand (DRC) initiated with a Neutral at RW Baird... Fortinet (FTNT) initiated with a Neutral at Goldman... Frank's International (FI) initiated with a Hold at Jefferies... Home Bancorp (HBCP) initiated with an Outperform at Fig Partners... Key Energy (KEG) initiated with an Outperform at RW Baird... McDermott (MDR) initiated with a Neutral at Tigress Financial... ORBCOMM (ORBC) initiated with a Neutral at Macquarie... Oil States (OIS) initiated with an Outperform at RW Baird... PBF Energy (PBF) initiated with an Equal Weight at Barclays... Palo Alto (PANW) assumed with a Conviction Buy at Goldman... Proofpoint (PFPT) initiated with a Buy at Goldman... Qlik Technologies (QLIK) initiated with a Market Perform at FBR Capital... Radius Health (RDUS) initiated with a Buy at Canaccord... Seventy Seven Energy (SSE) initiated with a Hold at Jefferies... Superior Energy (SPN) initiated with an Outperform at RW Baird... Tandem Diabetes (TNDM) initiated with an Outperform at William Blair... Trecora Resources (TREC) initiated with a Buy at B. Riley... Ultragenyx (RARE) initiated with an Outperform at RW Baird... United Natural Foods (UNFI) initiated with an Outperform at Oppenheimer... Viper Energy (VNOM) initiated with a Market Perform at Northland... Whiting Petroleum (WLL) initiated with a Buy at Tigress Financial.
09:59 EDTTHCHCA Holdings guidance increase looks conservative, says Wells Fargo
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09:48 EDTTHCTenet trades higher after peer HCA raises FY14 outlook, levels to watch
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09:35 EDTTHCHospitals rally after HCA Holdings boosts outlook
After HCA Holdings (HCA) raised its outlook for the year, peers Community Health (CYH), Tenet (THC), Universal Health (UHS) and LifePoint Hospitals (LPNT) are strongly to the upside in early trading.
05:52 EDTPANWPalo Alto assumed with a Conviction Buy at Goldman
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July 15, 2014
16:09 EDTBASBasic Energy initiated with a Neutral at RW Baird
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08:48 EDTPANWPalo Alto outlook has improved, says JMP Securities
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July 14, 2014
16:15 EDTTHCHumana, Tenet sign new multi-year national agreement
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