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News Breaks
February 6, 2013
Today's noteworthy initiations include: Advanced Energy (AEIS) initiated with a Buy at Citigroup... Finish Line (FINL) initiated with a Neutral at RW Baird... First Solar (FSLR) initiated with a Buy at Citigroup... Foot Locker (FL) initiated with an Outperform at RW Baird... Global Eagle (ENT) initiated with an Overweight at Piper Jaffray... MEMC Electronic (WFR) initiated with a Buy at Citigroup... SunPower (SPWR) initiated with a Buy, added to Top Picks Live at Citigroup... Suntech (STP) initiated with a Sell at Citigroup... Tesaro (TSRO) initiated with a Buy at Deutsche Bank... Thor Industries (THO) initiated with an Outperform at BMO Capital... Trina Solar (TSL) initiated with a Neutral at Citigroup... Yingli Green (YGE) initiated with a Neutral at Citigroup... Intuit (INTU) initiated with a Buy at Janney Capital... SunTrust (STI) initiated with a Neutral at Nomura... KeyCorp (KEY) initiated with a Neutral at Nomura... Huntington Bancshares (HBAN) initiated with a Neutral at Nomura... Comerica (CMA) initiated with a Neutral at Nomura... Regions Financial (RF) initiated with a Buy at Nomura... PNC Financial (PNC) initiated with a Buy at Nomura... Fifth Third Bancorp (FITB) initiated with a Neutral at Nomura... Wells Fargo (WFC) initiated with a Buy at Nomura... U.S. Bancorp (USB) initiated with a Buy at Nomura... PNC Financial (PNC) initiated with a Buy at Nomura... J.C. Penney (JCP) initiated with a Sell at Maxim.
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February 19, 2015
16:13 EDTTSROTESARO reports Q4 EPS ($1.33), consensus ($1.03)
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16:11 EDTINTUIntuit says year to date through Feb.14 sales of TurboTax Online units grew 19%
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16:09 EDTINTUIntuit sees Q4 EPS (6c)-(8c)
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16:07 EDTINTUIntuit reports Q2 total QuickBooks Online subscribers 841K
Added more than 100,000 QuickBooks Online subscribers versus the previous quarter, bringing total paying subscribers worldwide to 841,000. Increased total TurboTax units 11 percent through Feb. 14, versus the comparable prior-year period. Completed two acquisitions, Acrede and ZeroPaper, to help fuel QuickBooks Online ecosystem international growth. Launched QuickBooks Self-Employed, designed specifically for the rapidly expanding population of freelancers and independent contractors.
16:05 EDTINTUIntuit backs FY15 adjusted EPS view $2.45-$2.50, consensus $2.47
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16:03 EDTINTUIntuit sees Q3 adjusted EPS $2.70-$2.75, consensus $2.88
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16:01 EDTINTUIntuit reports Q2 EPS (6c), consensus (13c)
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15:32 EDTINTUNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Public Storage (PSA), consensus $2.19... Intuit (INTU), consensus (13c)... Consolidated Edison (ED), consensus 55c... Nordstrom (JWN), consensus $1.35... Mohawk Industries (MHK), consensus $2.21... Newmont Mining (NEM), consensus 10c... Frontier Communications (FTR), consensus 5c... Brocade Communications (BRCD), consensus 24c... Bruker (BRKR), consensus 29c... Rovi (ROVI), consensus 41c... Marvell Technology (MRVL), consensus 24c... MRC Global (MRC), consensus 46c... Equinix (EQIX), consensus $1.03.
14:44 EDTINTUIntuit technical comments before earnings
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14:41 EDTJCPJ.C. Penney volatility elevated into Q4 and outlook
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13:18 EDTFSLR, YGE, TSL, SPWRIsrael's SolarEdge to launch IPO
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13:04 EDTSPWRDeutsche, Canaccord still upbeat on SolarCity despite Q1 guidance miss
The shares of SolarCity (SCTY) are falling after the company reported a higher than expected fourth quarter loss. However, Deutsche Bank and research firm Canaccord remained upbeat on the stock in notes to investors earlier today. Solarcity installs solar energy systems at residences and businesses. BACKGROUND: SolarCity reported a Q4 loss of ($1.33) per share, versus the consensus outlook for a ($1.27) per share loss. SolarCity's Q4 revenue, however, was roughly in-line with expectations and the company said that its backlog as of the beginning of 2015 was large enough to cover much of its expected installations for the first half of the year. Additionally, SolarCity reiterated its guidance for 920-1000MW of solar installations for 2015. SolarCity estimated, however, that its Q1 per share loss would come in at ($1.65)-($1.75), versus the consensus outlook for a ($1.25) per share loss. ANALYST REACTION: Deutsche Bank analyst Vishal Shah wrote that SolarCity had executed well, while demand for its installations is strong. Moreover, the company's cost reduction plan looks to be running ahead of schedule, and its 2015 shipments look poised to come in ahead of its guidance, Shah believes. The analyst did, however, write that SolarCity's Q4 bookings were "somewhat" below his expectations and declined versus Q3. Nonetheless, the analyst continued to identify the stock as one of his top picks in the solar sector and kept a $90 price target and Buy rating on the name. Also upbeat on SolarCity was Canaccord analyst Jed Dorsheimer. He raised his price target on the shares to $67 from $64 following its results. SolarCity has had record bookings over the last 30 days and the company should come close to setting a bookings record in Q1, the analyst wrote, adding that its deployments should ramp in Q2 and Q3 as seasonal factors subside. Dorsheimer kept a Buy rating on the stock. PRICE ACTION: In early afternoon trading, SolarCity fell 6.3% to $53.48. Other names in the solar sector also declined, with SunPower (SPWR) falling 1.8%, JinkoSolar (JKS) dropping 1.5%, and Vivint Solar (VSLR) losing 2.3%.
10:30 EDTAEISAdvanced Energy to host analyst meeting
Analyst meeting to be held in New York on February 26 at 10:30 am. Webcast Link
09:35 EDTSPWROption volume leaders
Option volume leaders: AAPL TSLA TWTR MCD WMT PBR SPWR WFM GILD FB SCTY according to Track Data.
06:47 EDTUSB, WFCReport shows subprime consumer loans at pre-2007 levels, WSJ says
Equifax (EFX) has released a report stating nearly 40%, or 50M, of auto loans, credit cards, and personal loans during the first 11 months of 2014 were made to subprime customers, the highest levels since the 2007 financial crisis, reports the Wall Street Journal. LendingTree (TREE) Chief Marketing Officer Gabriel Dalporto attributes the growth to nonbank lenders under less regulatory scrutiny than large banks. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
February 18, 2015
18:22 EDTSPWR, FSLRSolar stocks struggle in extended session after SolarCity results
Solar stocks are trading down in the extended session after SolarCity (SCTY) reported a larger fourth quarter loss than expected and guided to a first quarter loss well below consensus estimates. WHAT'S NEW: Solar city said adjusted non-GAAP earnings per share for Q4 was a loss of ($1.33) against estimates of a loss of ($1.27). Revenue for the quarter was in-line at $71.8M. The company also guided for a loss of ($1.75)-($1.65) per share in the current quarter which is below analysts' average estimates for a loss of ($1.25) per share. However, the company did note, " With end-market demand healthy and growing, our installation capacity steadily ramping and a majority of our financing needs secured for the year, we remain confident in achieving our guidance to deploy 920-1000MW in 2015." PRICE ACTION: Shares of SolarCity are down over 5% to $54.01 in the after-hours session. OTHERS TO WATCH: Other stocks in the solar space trading lower in the extended session include SunPower (SPWR), SunEdison (SUNE), Vivint Solar (VSLR), and First Solar (FSLR).
16:41 EDTFLFoot Locker approves $220M capital expenditure program for 2015
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16:39 EDTFLFoot Locker raises dividend 14% to 25c, approves $1B share buyback
Foot Locker announced that its board authorized capital allocation initiatives that "simultaneously provide meaningful returns to shareholders and maintain a significant investment in its business operations." The board declared a quarterly cash dividend on the company's common stock of 25c per share, which will be payable on May 1 to shareholders of record on April 17. This dividend declaration represents a 14% increase over the company's previous quarterly per-share amount. The board also approved a new 3-year, $1B common share repurchase program extending through January 2018, replacing the company's previous $600M program. The company spent $305M under the previous program in 2014, and as of yesterday had substantially completed the full program amount, Foot Locker said.
10:00 EDTJCPJ.C. Penney move higher attributed to real estate speculation
The move higher in shares of J.C. Penney (JCP) is being attributed to speculation the company may look to monetize its real estate assets. The speculation seems to be originating from a Jones Lang LaSalle (JLL) employee's webpage showing the retailer as a client. The JLL employee, Stephen Bridges, specializes in "assisting industrial users with the lease, purchase, and sale of real estate." It is not clear when Penny became a client of JLL. Shares of Penny rallied to a high of $8.50, and are trading up 16c to $8.29 in early trading. Reference Link
07:21 EDTWFC, USBJPMorgan, Citi top government report of riskiest banks, Reuters reports
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