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Stock Market & Financial Investment News

News Breaks
January 23, 2014
10:01 EDTDKS, VSI, EBAY, RIG, SDRL, NE, DO, ESV, SNDK, FFIV, VLO, CRM, RDC, CTXS, DK, GNC, G, GOL, HPY, HERO, ORA, LAMR, AEOOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Eagle (AEO) downgraded to Hold from Buy at Stifel... Citrix (CTXS) downgraded to Hold from Buy at Deutsche Bank... Delek US (DK) downgraded to Market Perform from Outperform at Raymond James... GNC Holdings (GNC) downgraded to Underperform from Market Perform at William Blair... Genpact (G) downgraded to Sell from Neutral at Goldman... Gol Linhas (GOL) downgraded to Market Perform from Outperform at Raymond James... Heartland Payment (HPY) downgraded to Neutral from Buy at Goldman... Hercules Offshore (HERO) downgraded to Neutral from Buy at Global Hunter... Lamar Advertising (LAMR) downgraded to Neutral from Buy at Citigroup... Ormat Technologies (ORA) downgraded to Underweight from Equal Weight at Barclays... Rowan Companies (RDC) downgraded to Neutral from Buy at UBS... Salesforce.com (CRM) downgraded to Hold from Buy at Deutsche Bank... Valero (VLO) downgraded to Outperform from Strong Buy at Raymond James... Vitamin Shoppe (VSI) downgraded to Market Perform from Outperform at William Blair... eBay (EBAY) downgraded to Hold from Buy at Stifel... Transocean (RIG) downgraded to Sell from Hold at Nordea... Seadrill (SDRL) downgraded to Hold from Buy at Nordea... Noble Corp. (NE) downgraded to Sell from Hold at Nordea... Ensco (ESV) downgraded to Hold from Buy at Nordea... Diamond Offshore (DO) downgraded to Sell from Hold at Nordea... SanDisk (SNDK) downgraded at Needham... Coach (COH) downgraded to Neutral from Outperform at Macquarie... F5 Networks (FFIV) downgraded to Neutral from Buy at Nomura... Dick's Sporting (DKS) downgraded to Equal Weight from Overweight at Morgan Stanley.
News For AEO;CTXS;DK;GNC;G;GOL;HPY;HERO;ORA;LAMR;RDC;CRM;VLO;VSI;EBAY;RIG;SDRL;NE;DO;ESV;SNDK;FFIV;DKS From The Last 14 Days
Check below for free stories on AEO;CTXS;DK;GNC;G;GOL;HPY;HERO;ORA;LAMR;RDC;CRM;VLO;VSI;EBAY;RIG;SDRL;NE;DO;ESV;SNDK;FFIV;DKS the last two weeks.
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September 4, 2014
12:34 EDTRIGOn The Fly: Midday Wrap
Stocks on Wall Street began the session in positive territory after the ECB lowered its benchmark interest rate and took additional measures in an attempt to stimulate the region’s economy. The averages had some early momentum, but found a level about an hour into trading around which they have since traded in a narrow range. ECONOMIC EVENTS: In the U.S., payroll provider ADP estimated private sector employment increased by 204K jobs in August, which was below the consensus forecast for 215K private sector jobs to have been added. Initial jobless claims rose 4K to 302K in the week ended August 30, which was close to the 300K estimate. The trade deficit narrowed slightly to $40.5B in July, beating expectations for a deficit of $42.5B. Second quarter nonfarm productivity growth was revised lower to 2.3% versus the 2.5% pace reported initially. Unit labor costs were revised down to a decrease of 0.1% from a rise of 0.6% estimated previously. Markit's services PMI for August came in at 59.5, versus a consensus forecast of 58.5. ISM's non-manufacturing PMI for August had a reading of 59.6, easily topping the 57.7 consensus estimate. In Europe, the European Central Bank unexpectedly cut the rate at which it issues short-term loans to banks to 0.05% from 0.15% and lowered its growth forecasts for 2014 and 2015. The ECB also announced plans to buy asset-backed securities, which the central bank's president Mario Draghi said will have a “sizable” impact on its balance sheet without providing further details on the size of the planned purchases. COMPANY NEWS: Shares of oil major BP (BP) trading in New York fell about 6% after a federal judge ruled that the company acted with "gross negligence" in causing the Gulf of Mexico spill in 2010 that was the biggest offshore oil spill in U.S. history. U.S. District Judge Carl Barbier, who held a trial without a jury over who was at fault, also found Transocean (RIG) and Halliburton (HAL) "negligent," but rested much more of the blame on BP, with 67% of the liability assigned to BP, 30% to Transocean and 3% to Halliburton. Afterward, BP said it "strongly disagrees" with the decision and will immediately appeal. MAJOR MOVERS: Among the notable gainers following their earnings reports were Mattress Firm (MFRM), which rose 12%, and Methode Electronics (MEI), which gained 16%. Also higher was Bolt Technology (BOLT), which surged 36% after the company agreed to be acquired by Teledyne Technologies (TDY) for $22.00 per share in cash. Shares of Teledyne advanced nearly 2% following last night's deal announcement. Among the noteworthy losers was Matrix Service (MTRX), which dropped 21% after its earnings for the just completed quarter and its profit forecast for its new fiscal year fell short of analysts' expectations. Also lower following their earnings reports were Ciena (CIEN), which fell over 7%, and Shoe Carnival (SCVL), which dropped more than 10%. INDEXES: Near midday, the Dow was up 43.83, or 0.26%, to 17,122.11, the Nasdaq was up 15.15, or 0.33%, to 4,587.71, and the S&P 500 was up 5.23, or 0.26%, to 2,005.95.
12:20 EDTNENoble Corp. sees change in Brazil government to loosen up rig procurement
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11:09 EDTRIGBP falls after found 'grossly negligent' in spill ruling
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11:05 EDTEBAYOptions with increasing implied volatility
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10:44 EDTRIGBP found grossly negligent in Macondo spill, fines may rise, Bloomberg reports
U.S. District Judge Carl Barbier has found BP (BP) "grossly negligent" in its handling of the 2010 Gulf of Mexico oil spill, which killed 11 people and spewed oil for nearly three months, Bloomberg reports. Transocean (RIG) and Halliburton (HAL) were also involved in the case, but the federal judge did not find them as responsible as BP for the spill. BP could face fines of up to $18B for the spill. Reference Link
10:26 EDTRIGHalliburton, Transocean cleared of gross negligence in spill, Bloomberg reports
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09:30 EDTGOLGOL Linhas upgraded to Overweight from Equal Weight at Morgan Stanley
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06:55 EDTSNDKSanDisk reinstated with a Buy at Deutsche Bank
Deutsche Bank reinstated shares of SanDisk with a Buy rating citing limited NAND supply risk in the next 12 months and the demand pickup from SSDs and smartphones. The firm has a $110 price target for shares.
06:22 EDTEBAYeBay to meet PayPal estimates despite competition, says Piper Jaffray
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September 3, 2014
13:03 EDTCRMConcur advances after report says acquisition being explored
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12:19 EDTEBAY, LAMROptions with increasing implied volatility
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11:07 EDTSDRLOptions with decreasing implied volatility
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10:55 EDTESVEnsco upgraded to Buy from Hold at Standpoint Research
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10:48 EDTRDCRowan repeats view for FY14 jack-up out of service time, capex
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09:29 EDTSNDKMicron, SanDisk have positive read though from Samsung proxy, says Sterne Agee
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08:47 EDTNEFir Tree discloses talks with Noble Corp. about MLP, other alternatives
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08:06 EDTEBAYApple iWallet poses threat to PayPal, says RW Baird
Baird said an Apple (AAPL) mobile payments platform will pose a headline risk to eBay's (EBAY) PayPal. The firm sees it as a particular threat to growth opportunities at point-of-sale, although Baird notes PayPal has a solid start, a strong fraud detection platform, compliance with bank regulators, and accelerating growth in e-commerce payments. The firm has Outperform ratings on both stocks, with a price target of $63 on eBay and a target of $105 on Apple.
06:25 EDTEBAYEBay hiring settlement with DOJ approved by judge, Reuters says
U.S. District Judge Edward Davila approved eBay's agreement with the U.S. Department of Justice regarding claims that the global technology firm agreed to not pursue a competitor's employees, according to Reuters, citing a brief order from Davila. Reference Link
06:08 EDTGOLGOL Linhas to host 2014 GOL Day
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05:48 EDTEBAYStocks with implied volatility movement; ITMN EBAY
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