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Stock Market & Financial Investment News

News Breaks
July 9, 2014
10:02 EDTVMW, TAM, PCL, MRVL, GIMO, COH, UN, RGSE, MCO, LPX, GRMN, VVC, TOT, POT, MHFI, IP, CMI, BNPQY, APO, CG, ALV, AEIS, BP, APAMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Advanced Energy (AEIS) downgraded to Neutral from Buy at Dougherty... Apollo Global (APO) downgraded to Neutral from Buy at Citigroup... Artisan Partners (APAM) downgraded to Neutral from Buy at Citigroup... Autoliv (ALV) downgraded to Hold from Buy at Nordea... BNP Paribas (BNPQY) downgraded to Neutral from Overweight at JPMorgan... BP (BP) downgraded to Hold from Buy at Deutsche Bank... Carlyle Group (CG) downgraded to Neutral from Buy at Citigroup... Coach (COH) downgraded at Buckingham... Cummins (CMI) downgraded to Buy from Conviction Buy at Goldman... Garmin (GRMN) downgraded to Underperform from Sector Perform at Pacific Crest... Gigamon (GIMO) downgraded to Buy from Strong Buy at Needham... International Paper (IP) downgraded at RBC Capital... Louisiana-Pacific (LPX) downgraded at RBC Capital... Marvell (MRVL) downgraded to Underperform from Perform at Oppenheimer... McGraw Hill Financial (MHFI) downgraded to Market Perform at Raymond James... Moody's (MCO) downgraded to Market Perform from Outperform at Raymond James... Plum Creek Timber (PCL) downgraded at RBC Capital... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... RGS Energy (RGSE) downgraded at Cowen... Taminco (TAM) downgraded to Neutral from Buy at Citigroup... Total (TOT) downgraded to Hold from Buy at Societe Generale... Unilever (UN) downgraded to Reduce from Neutral at Nomura... VMware (VMW) downgraded to Market Perform from Outperform at Wells Fargo... Vectren (VVC) downgraded to Hold from Buy at KeyBanc.
News For AEIS;APO;APAM;ALV;BNPQY;BP;CG;COH;CMI;GRMN;GIMO;IP;LPX;MRVL;MHFI;MCO;PCL;POT;RGSE;TAM;TOT;UN;VMW;VVC From The Last 14 Days
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January 21, 2015
09:08 EDTMHFINew York AG joins SEC in settlement with Standard and Poor's
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09:07 EDTMHFIS&P to pay $58M to settle SEC charges
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09:06 EDTMHFISEC announces charges against S&P for fraudulent ratings misconduct
The Securities and Exchange Commission announced a series of federal securities law violations by Standard & Poorís Ratings Services involving fraudulent misconduct in its ratings of certain commercial mortgage-backed securities. S&P agreed to pay more than $58M to settle the SECís charges, plus an additional $19M to settle parallel cases announced by the New York Attorney Generalís office -- $12M -- and the Massachusetts Attorney Generalís office -- $7M. The SEC issued three orders instituting settled administrative proceedings against S&P. One order, in which S&P made certain admissions, addressed S&Pís practices in its conduit fusion CMBS ratings methodology. S&Pís public disclosures affirmatively misrepresented that it was using one approach when it actually used a different methodology in 2011 to rate six conduit fusion CMBS transactions and issue preliminary ratings on two more transactions. As part of this settlement, S&P agreed to take a one-year timeout from rating conduit fusion CMBS. In a separate order instituting a litigated administrative proceeding, the SEC Enforcement Division alleges that the former head of S&Pís CMBS Group fraudulently misrepresented the manner in which the firm calculated a critical aspect of certain CMBS ratings in 2011. Barbara Duka allegedly instituted the shift to more issuer-friendly ratings criteria, and the firm failed to properly disclose the less rigorous methodology. The matter against Duka will be scheduled for a public hearing before an administrative law judge for proceedings to adjudicate the Enforcement Divisionís allegations and determine what, if any, remedial actions are appropriate.
09:05 EDTMHFISEC announves charges against S&P for fraudulent ratings misconduct
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09:03 EDTALVAutoliv coverage assumed with a Neutral at Credit Suisse
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08:28 EDTTOTInterOil Inpex shares undervalued, says Bernstein
Bernstein believes that InterOil (IOC) looks attractive, given Total's (TOT) intention to launch its Antelope LNG project in Paupa New guinea in 2017. The firm says that Inpex (IPXHY) is well-funded and could benefit from cheaper service costs as the LNG project cycle reaches a peak.
08:18 EDTBNPQYBNP Paribas discussing potential job cuts in January 27 meeting, Reuters says
BNP Paribas will hold an exceptional meeting with its works council on January 27 regarding potential job cuts, reports Reuters, citing French paper Les Echos. The paper cited a union representative, who stated the number of job cuts "should not" exceed 373, while the company's top bankers will see a 50% average cut in bonuses. Reference Link
06:42 EDTTOTTotal to cut spending on North Sea, U.S. shale projects, Reuters says
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05:48 EDTBPStocks with implied volatility movement; IWM BP
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January 20, 2015
17:56 EDTBPBP judge may allow installment payments on penalty, WSJ says
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15:29 EDTMHFIS&P may pay $1.5B to U.S to settle ratings issue, Reuters says
S&P in talks with U.S. Justice department and individual states over mortgage ratings, Reuters added.
14:43 EDTMHFIS&P said to be banned by SEC on rating some CMBSs for year, Bloomberg reports
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14:16 EDTMHFIS&P said to be banned by SEC on rating some CMBSs for year, Bloomberg reports
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13:21 EDTTOTTotal to cut capital spending by 10% amid oil drop, FT reports
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08:26 EDTPOTAgrium preferred over Potash, Mosaic at Canaccord
Canaccord said they prefer Agrium (AGU) over both Potash (POT) and Mosaic (MOS). Mosaic raised its guidance due to its phosphate business, but with a lack of catalysts expected in the potash market in 2015 the firm continues to see solid growth volume, increasing nitrogen margins, and free cash flow expansion for Agrium. Canaccord maintains its Buy rating on Agrium and its Hold rating on both Mosaic and Potash shares.
January 19, 2015
16:28 EDTPOTMosaic raises Q4 EPS outlook to 83c-88c, consensus 57c
The Mosaic Company announced that it expects reported phosphates volume and phosphates and potash margins to exceed previously provided guidance ranges, and that potash volumes will be at the high end of guidance range, resulting in Q4 earnings per share in the range of 93c-98c, including 10c in net benefits from notable items. The notable items include early estimates of discrete tax benefits, primarily related to the acquisition of a Brazilian distribution business, which may change. The company expect earnings, excluding notable items, to be in the range of 83c-88c. The consensus EPS estimate is 57c..Mosaic stated, "Demand for potash and phosphates exceeded our expectations during the fourth quarter,. We were cautiously optimistic going into the fall application season with good crop nutrient affordability and an empty supply chain, but customers came to the market in force, as they sought to position inventory in anticipation of a strong spring season and increasing crop nutrient prices...Our Phosphates business sold 3.3 million tonnes of finished product during the quarter - well above our expectations - and our Potash business produced at a high operating rate due to a successful proving run at the Colonsay mine." Mosaic's peers include Potash (POT) and Agrium (AGU).
06:47 EDTTOT, BPJPMorgan says oil may drop below $40/barrel in near-term
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January 18, 2015
18:32 EDTBPBP will cite crude price decline in Gulf spill fine determination, WSJ says
BP, which is facing up to $13.7B in federal fines, is set to go to trial on January 20 in federal court in New Orleans to determine the amount it must pay the U.S. government for each barrel of crude that spilled into the Gulf during the 2010 Deepwater Horizon disaster, says the Wall Street Journal. BP's lawyers plan to use the recent plunge in oil prices in their arguments before the court and will likely cite a weakened BP Exploration & Production, the subsidiary that is charged with the spill violations, added the Wall Street Journal. Reference Link
18:11 EDTBPAnadarko faces pollution penalty in Deepwater Horizon disaster, WSJ says
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14:22 EDTBP, TOTSchlumberger boss says oil price to challenge land producers, WSJ says
Paal Kibsgaard, CEO of Schlumberger, said U.S. energy producers are not done with work force reductions and that because of high costs, producers that focus on shale fields are worse off than rivals, says the Wall Street Journal. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A), Total (TOT), Schlumberger (SLB) and Baker Hughes (BHI). Reference Link
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