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Stock Market & Financial Investment News

News Breaks
April 17, 2014
09:59 EDTAEM, SPLK, SCTY, RALY, NFLX, NBG, MDW, HBHC, GOGO, FRC, EFX, EIX, BOFI, BWP, BAC, AA, AKZOY, WTFCOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Agnico-Eagle (AEM) upgraded to Buy from Hold at Desjardins... AkzoNobel (AKZOY) upgraded to Neutral from Reduce at Nomura... Alcoa (AA) upgraded to Sector Perform from Underperform at RBC Capital... Bank of America (BAC) upgraded at Oppenheimer... Boardwalk Pipeline (BWP) upgraded to Overweight from Underweight at JPMorgan... BofI Holding (BOFI) upgraded to Buy from Neutral at Sterne Agee... Edison International (EIX) upgraded to Buy from Hold at Jefferies... Equifax (EFX) upgraded to Buy from Hold at Deutsche Bank... First Republic Bank (FRC) upgraded to Outperform from Market Perform at Fig Partners... Gogo (GOGO) upgraded to Overweight from Neutral at JPMorgan... Hancock Holding (HBHC) upgraded to Outperform from Market Perform at Raymond James... Midway Gold (MDW) upgraded to Speculative Buy from Hold at Canaccord... National Bank of Greece (NBG) upgraded to Neutral from Underweight at JPMorgan... Netflix (NFLX) upgraded to Outperform from Sector Perform at Pacific Crest... Rally Software (RALY) upgraded to Overweight from Neutral at Piper Jaffray... SolarCity (SCTY) upgraded to Outperform from Neutral at RW Baird... Splunk (SPLK) upgraded to Buy from Outperform at CLSA... Wintrust Financial (WTFC) upgraded to Buy from Neutral at DA Davidson.
News For AEM;AKZOY;AA;BAC;BWP;BOFI;EIX;EFX;FRC;GOGO;HBHC;MDW;NBG;NFLX;RALY;SCTY;SPLK;WTFC From The Last 14 Days
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October 8, 2014
11:42 EDTAAStocks with call strike movement; AA MU
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10:01 EDTSCTYSolarCity and Honda renew partnership to fund $50M in solar projects
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09:48 EDTNFLXGoogle says new movies can be pre-ordered, watched on first day of availibility
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09:38 EDTAA, NFLXActive equity options trading on open
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09:02 EDTNFLXNetflix November volatility increases into Q3 and outlook
Netflix October call option implied volatility is at 58, November is at 40, December is at 33, January is at 31, March is at 32; compared to its 26-week average of 35, suggesting large near term price movement into the expected release of Q3 results on October 15.
08:34 EDTBACBank of America October volatility increases into Q3 and outlook
Bank of America October call option implied volatility is at 28, November is at 23, January is at 22; compared to its 26-week average of 24 according to Track Data, suggesting larger near term price movement into the expected release of Q3 results on October 15.
08:11 EDTSCTYSolarCity launch of MyPower expected but details a positive, says BofA/Merrill
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07:25 EDTAAFutures suggest a bounce at the open
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07:17 EDTSPLKSplunk price target raised to $64 from $55 at UBS
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07:13 EDTBACBank dealers agree to revised derivatives rules, FT reports
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06:02 EDTSCTYSolarCity adds financing option in move to expand
SolarCity introduced MyPower today, a solar financing option that combines the low upfront cost and immediate utility savings of a power purchase agreement with the benefits of ownership. SolarCity customers pay for their MyPower solar loan similar to the way they pay for a solar PPAóbased on the energy the system produces from the sunóbut they retain ownership of the solar panels. MyPower's unique structure creates America's most affordable solar loanówith a lower cost than PPAs in many locations. MyPower can allow customers to pay as much as 40% less for solar power than utility power, and unlike other loans, MyPower allows customers to prepay their entire balance or prepay a portion of their solar loan to lower their monthly payments at any time, with no fees or penalties. Starting today, SolarCity will offer MyPower to customers in Arizona, California, Colorado, Connecticut, Hawaii, Massachusetts, New York and New Jersey, and ultimately plans to expand the product beyond its existing service territory.
October 7, 2014
16:00 EDTNFLXOptions Update; October 7, 2014
iPath S&P 500 VIX Short-Term Futures up 2.16 to 32.24 Option volume leaders: AAPL TSLA TWTR AMZN FB VZ AA HTZ NFLX PBR according to Track Data.
15:13 EDTAAEarnings Preview: Alcoa sees Q3 EPS to 'continue to build on strong Q2'
Alcoa (AA) is scheduled to report third quarter earnings after the close on Wednesday, October 8, with a conference call scheduled for 5:00 pm ET. Alcoa is a global manufacturer of aluminum products. EXPECTATIONS: Analysts are looking for earnings per share of 23c on revenue of $5.85B, according to First Call. The consensus range for EPS is 15c-28c on revenue of $5.62B-$6.07B. LAST QUARTER: Alcoa reported second quarter adjusted EPS of 18c against estimates for 12c on revenue of $5.8B against estimates for $5.66B. The company reiterated its 2014 global aluminum demand growth view of 7%, and backed its 2014 global aerospace growth outlook of 8%-9%. It raised its 2014 estimate for the North America commercial transportation market to 10%-14%, from a previous range of 5%-9%. The higher estimate was based in part on rising truck orders and backlogs. CEO Klaus Kleinfeld said the company's transformation was in "high gear." He noted that aerospace business is a tailwind due to strong demand for commercial aircraft, and said the company is well-positioned to capture upside from recent investments. On Alcoa's Q2 earnings conference call, management said during the quarter the company witnessed revenue growth across all major end markets and the businesses continued to deliver productivity gains. They expect Q3 earnings per share to "continue to build on the strong second quarter." ATOI is expected to grow by 5%-10% over last year's third quarter due to continued share gains, stronger market conditions and productivity. Productivity gains are expected to offset cost increases in Q3. For 2014, productivity is ahead of schedule with $556M of productivity gains achieved in first half 2014 against the annual target of $850M. On September 11, Alcoa signed a multi-year supply contract with Boeing (BA) valued at over $1B. STREET RESEARCH: Street research has been overwhelmingly positive in the weeks leading up to Alcoa's Q3 earnings report. On July 9, three firms, Stifel, JP Morgan, and Argus raised their respective price targets on Alcoa. On September 30, BofA/Merrill upgraded Alcoa to Buy from Neutral with a price target of $18. The firm was more positive on the outlook for aluminum and raised Alcoa's 2015 EPS estimate to $1.05 and EBITDA to $4.1B vs. consensus of 85c and $3.8B. BofA said plant closures, better demand, and falling pension costs were catalysts. PRICE ACTION: Alcoa shares have rallied approximately 8% over the past three months, touching a 52-week high of $17.36 in September. Over the past twelve months, the stock is up about 100%. In early afternoon trading ahead of tomorrow's Q3 report, Alcoa shares are down fractionally.
09:36 EDTNFLX, BACActive equity options trading on open
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08:08 EDTSPLKSplunk, AWS to integrate Hunk on Amazon Elastic MapReduce
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08:04 EDTMDWMidway Gold places gold hedges as required under Pan Gold credit facility
Midway Gold Corp. announces that it has satisfied the gold hedging requirements under its project finance facility with Commonwealth Bank of Australia. Midway entered into commitments to deliver to CBA, at a flat forward price of $1,200/oz, 80,500 ounces of gold over a 23-month period commencing in May 2015. The hedging program provides price protection for the Companyís debt obligations and represents approximately 13% of estimated life-of-mine production from the Pan Gold Project. The project finance facility is comprised of two tranches: a project finance facility of $45M, plus a cost overrun facility of $10M. Advances under the project finance facility will bear interest at LIBOR plus 3.50% to 3.75%, and advances under the cost overrun facility will bear interest at the project finance facility rate plus 2.00%. The Company must satisfy additional customary conditions precedent to draw on the facility.
07:28 EDTBACWells Fargo ups price target ranges for capital markets banks
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06:58 EDTBWPBoardwalk Pipeline pullback brings attractive entry point, says RBC Capital
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06:51 EDTBACJustice Department set to attack more large banks by year end, NY Times says
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06:49 EDTBACBNP seeks assistance from banks as ban approaches, Reuters says
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