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Stock Market & Financial Investment News

News Breaks
February 6, 2013
10:03 EDTAEIS, USB, RF, CMA, YGE, TSRO, WFR, FL, WFC, PNC, KEY, TSL, STP, FSLR, FINL, JCP, FITB, HBAN, INTU, THO, SPWR, ENTOn The Fly: Analyst Initiation Summary
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.
News For AEIS;FINL;FL;ENT;FSLR;WFR;SPWR;STP;TSRO;THO;TSL;YGE;INTU;KEY;CMA;HBAN;PNC;RF;FITB;WFC;USB;JCP From The Last 14 Days
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May 13, 2015
12:54 EDTJCPEarnings Watch: J.C. Penney sees Q1 SSS up 3.5%-4.5%
J.C. Penney (JCP) is scheduled to report first quarter earnings after the market close on Wednesday, May 13, with a conference call scheduled for 4:30 pm ET. J.C. Penney operates about 1,100 retail stores and jcp.com. EXPECTATIONS: Analysts are looking for a loss per share of (77c) on revenue of $2.87B, according to First Call. The consensus range for EPS is (96c)-(61c) on revenue of $2.78B-$2.92B. LAST QUARTER: J.C. Penney reported fourth adjusted earnings per share of breakeven against estimates for 11c, on revenue of $3.89B against estimates for $3.87B. Comparable store sales were up 4.4%. The company forecast fiscal year 2015 SSS up 3%-5% and said it expected gross margin to improve 50 to 100 basis points versus 2014 and free cash flow to be flat. On its Q4 earnings conference call, the company said that it expected Q1 sales to be impacted less than 1% due to the West Coast port slowdown. NEWS: On March 17, AdAge said Chief Marketing Officer Debra Berman would leave the company immediately. Later that day, Bloomberg reported that General Cousnel Janet Dhillon would also leave the company, which was confirmed by J.C. Penney on March 20. On April 28, J.C. Penney appointed Mary Beth West as executive vice president and Chief Customer & Marketing Officer, effective June 1. In an April regulatory filing, J.C. Penney said it became aware that a senior company official "inadvertently sent an e-mail communication to a securities analyst that contained non-public information regarding the company’s comparable store sales results for Q1 to date, which are approximately 6%." The company said it expects Q1 SSS up 3.5%-4.5%, which takes into account the shift of Easter into March. The retailer said it would introduce Sephora to 25 additional stores starting on May 1. In April, New York Attorney General Eric Schneiderman sent letters warning J.C. Penney and other retailers that he believes the chains are using on-call scheduling and that such practices may be in violation of New York laws. STREET RESEARCH: Following the release of J.C. Penney's Q4 results, Deutsche Bank said J.C. Penney remained a "show me story" until liquidity is improved. Craig-Hallum said J.C. Penney's 2015 gross margin outlook supports its view the company's 2017 financial targets are "unattainable." In March, JPMorgan raised its price target for the retailer to $10 from $8 and said management expressed confidence in the company’s ability to reach its 2017 EBITDA target of $1.2B. Baird said J.C. Penney's business is on "more stable footing," but believes meaningful free cash flow growth will be challenging. PRICE ACTION: Over the last three months, J.C. Penney shares are up over 7.45%. In early afternoon trading ahead of Wednesday's Q1 report, J. C. Penney is down 2.5% to $8.66.
May 12, 2015
18:12 EDTRF, FITB, HBANSenate proposes to ease 'systemically important' bank designation, FT says
Senate bank committee chairman Richard Shelby has introduced legislation that would increase the "systemically important bank" threshold from $50B to $500B, reports the Financial Times, citing draft legislation. The report notes that SunTrust (STI), Regions Financial (RF), Citizens Financial (CFG), Fifth Third (FITB), and Huntington Bancshares (HBAN) may benefit from the change if the bill passes. Some bankers believe the potential change could lead to renewed interest in mergers within the sector, adds the Financial Times. Reference Link
16:49 EDTWFCWells Fargo to pay $77M in trust fund case, St. Louis Today says
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16:01 EDTJCPOptions Update; May 12, 2015
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14:13 EDTKEY, PNCBove says it may be time to buy bank stocks
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11:37 EDTJCPStocks with call strike movement; TWTR JCP
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09:51 EDTTHOPall Corp. could be precursor to more Life Science deals, says Janney Capital
After The Wall Street Journal said Pall Corp. (PLL) is nearing a possible sale, naming Thermo Fisher (THO) and Danaher (DHR) as potential suitors, Janney Capital said it thinks dealmaking in the Life Sciences space won't stop with Pall, listing Repligen (RGEN), Bio-Techne (TECH) and VWR (VWR) as others in the industry that could see strategic bids emerge. The firm added that it expects that GE (GE), 3M (MMM), and private equity firms would also be involved in bidding in deals in the space.
08:27 EDTAEISAdvanced Energy management to meet with Needham
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08:08 EDTYGEYingli Green Energy and Borrego Solar sign 40 MW supply agreement for 2015
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07:52 EDTTSROLeerink to hold a tour
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07:48 EDTFITB, WFCStandard & Poor's to hold a summit
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May 11, 2015
16:00 EDTJCPOptions Update; May 11, 2015
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11:37 EDTTSLApple expanding renewable energy projects in China
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09:59 EDTPNCOn The Fly: Analyst Downgrade Summary
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08:42 EDTPNCPNC Financial downgraded to Neutral at Susquehanna
As reported previously, Susquehanna downgraded PNC Financial to Neutral from Positive citing valuation. The firm raised its price target on PNC shares to $102 from $100.
08:19 EDTCMAJefferies to hold a field trip
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08:18 EDTWFC, USBBanks executives seek to push back on 'false, damaging' statements, WSJ reports
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07:20 EDTTSLDeutsche Bank to hold a conference
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06:54 EDTPNCPNC Financial downgraded to Neutral from Positive at Susquehanna
05:05 EDTSPWRApple announces environmental initiatives in China
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