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Stock Market & Financial Investment News

News Breaks
October 10, 2012
10:10 EDTVIA, QCOM, USB, ZNGA, TYC, SKYW, SAP, NSM, HD, GPI, GCO, FITB, FOE, AEOOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Eagle (AEO) downgraded to Neutral from Overweight at Piper Jaffray... Ferro (FOE) downgraded to Underperform from Neutral at Longbow... Fifth Third Bancorp (FITB) downgraded to Neutral from Buy at BofA/Merrill... Genesco (GCO) downgraded to Neutral from Overweight at Piper Jaffray... Group 1 Automotive (GPI) downgraded to Neutral from Buy at Sterne Agee... Home Depot (HD) downgraded to Perform from Outperform at Oppenheimer... Nationstar (NSM) downgraded to Market Perform from Outperform at Keefe Bruyette... SAP (SAP) downgraded to Equal Weight from Overweight at Barclays... Sky West (SKYW) downgraded to Underperform from Neutral at BofA/Merrill... Tyco (TYC) downgraded to Neutral from Outperform at Credit Suisse... U.S. Bancorp (USB) downgraded to Neutral from Buy at BofA/Merrill... Zynga (ZNGA) downgraded to Neutral from Overweight at Piper Jaffray... Booz Allen (BAH) downgraded to Sell from Neutral at Lazard Capital... Qualcomm (QCOM) downgraded to Neutral from Buy at DA Davidson... Viacom (VIA) downgraded to Underperform from Market Perform at Bernstein.
News For AEO;FOE;FITB;GCO;GPI;HD;NSM;SAP;SKYW;TYC;ZNGA;USB;QCOM;VIA From The Last 14 Days
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September 5, 2014
19:58 EDTGCOGenesco management to meet with SunTrust
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16:45 EDTHDMarket ends week little changed after mixed economic data
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14:47 EDTSKYWSkyWest reported August RPMs down 0.5%
SkyWest reported a 0.5% decrease in revenue passenger miles, or RPMs, for August, while available seat miles, or ASMs, decreased 2.1% compared to the same month of 2013. SkyWest also reported that passenger boardings for August decreased 2.1% to 5,394,888. Load factor increased to 83.9% compared to 82.5% in the same month of 2013. The combined airlines generated 2.8B RPMs for the month, while ASMs decreased to 3.4B. SkyWest also reported a decrease of 5.9% in departures to 121,887 for August.
12:19 EDTAEOGap falls after reporting August same-store sales decline
Shares of apparel retailer Gap (GPS) are falling after the company reported disappointing August same-store sales results and Buckingham analysts downgraded the company's stock. WHAT'S NEW: Gap reported last night that its August comparable sales declined 2%, compared to a 2% increase a year ago in the same month. Gap Global SSS fell 9%, Banana Republic Global SSS fell 2% and Old Navy Global SSS rose 2%. Gap also reported its August net sales were flat compared to last year's $1.23B. WHAT'S NOTABLE: Looking ahead, the company said Gap's August sales performance will likely put pressure on the brand's gross margins in September. ANALYST REACTION: Gap was downgraded to Neutral from Buy at Buckingham this morning following the August comparable sales numbers. Buckingham analysts say they question the previously anticipated 2H14 comp recovery at the core brand and do not see upside to the stock if the flagship brand does not turn positive in the second half. Buckingham expects the stock's multiple to contract back to its historical average until sales improve. The firm still expects full-year 2014 guidance to be achievable as Gap manages expenses and it continues to like operational improvements the company is making in its supply chain and omni-channel initiatives. Until sales improve, Buckingham expects shares to remain range bound near $44 to $46. UBS analysts, on the other hand, say Gap's share weakness presents a buying opportunity. The firm said the miss does not derail the company's ability to show improvement over the second half and does not impact their long-term thesis tied to margin improvement opportunities. PRICE ACTION: Near noon, Gap fell $2.20, or about 5%, to $44.39. OTHERS TO WATCH: Competitors to Gap include American Apparel (APP), American Eagle (AEO), Urban Outfitters (URBN), Express (EXPR), and Abercrombie and Fitch (ANF).
11:43 EDTAEOZumiez sinks as company provides 'disappointing' Q3 outlook
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08:22 EDTQCOMNVIDIA lawsuits likely to have positive outcome, says JMP Securities
After NVIDIA (NVDA) filed lawsuits against Qualcomm (QCOM) and Samsung, JMP Securities thinks there is a good chance that NVIDIA will obtain a favorable ruling or settlement that is equal or greater to the $1.5B deal it cut with Intel (INTC),. The firm thinks that other companies, most notably Apple (AAPL), will launch talks with NVIDIA in the wake of the lawsuit. JMP Securities recommends buying NVIDIA ahead of upcoming Apple product refreshes and what it sees as accelerating growth trends for NVIDIA. The firm is upbeat about NVIDIA's new products and reiterates an Outperform rating.
07:31 EDTQCOMNVIDIA lawsuit positive, says Stifel
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06:27 EDTHDHealthCare.gov insurance site breached by hacker in July, WSJ reports
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September 4, 2014
16:13 EDTQCOMNVIDIA files patent infringement complaint against Qualcomm, Samsung
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11:07 EDTHDHome Depot believes we are in 'moderate stage' of housing recovery
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11:05 EDTHDHome Depot says it has no plans to expand in Brazil or going back to China
Home Depot said it has no plans to go back to China because it has not figured out how to make money there. It also said it has no plans in expanding into Brazil even though he has looked into opportunities there. Home Depot said it sees the most opportunities in North America, and will focus its resources there.
11:02 EDTHDHome Depot maintains 2H14 outlook that it will be better than 1H14
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10:57 EDTHDHome Depot seeing high-spend pro customers are growing higher than others
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10:43 EDTHDHome Depot CEO: 3rd parties 'working around the clock' on breach investigation
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10:42 EDTHDHome Depot CEO: We have told everybody what we know on breach
CEO Frank Blake said the company found out Tuesday morning and chose the path of communicating the facts as they know them. Blake said the company felt it was best to communicate the facts quickly and transparently, but cannot answer all of the questions. He added that the company will continue to investigate the breach "intensely." Comments taken from Goldman Sachs Annual Global Retailing Conference.
10:30 EDTHDHome Depot in contact with Secret Service over alleged breach, Reuters reports
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08:40 EDTZNGAZynga up 2% following announcement of new Zynga Poker
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08:39 EDTZNGAZynga announces launch of new Zynga Poker
Zynga announced that the new Zynga Poker is now available to consumers worldwide on the App Store and Google Play.
08:25 EDTHDHome Depot could see less impact than Target from data breach, says BMO Capital
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06:40 EDTUSBAgencies finalize liquidity rule for large banks
The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency finalized a rule yesterday that they said would strengthen the liquidity positions of large financial institutions. The rule will for the first time create a standardized minimum liquidity requirement for large and internationally active banking organizations., according to the agencies. Each institution will be required to hold high quality, liquid assets, or HQLA, such as central bank reserves and government and corporate debt that can be converted easily and quickly into cash in an amount equal to or greater than its projected cash outflows minus its projected cash inflows during a 30-day stress period, the agencies explained. The ratio of the firm’s liquid assets to its projected net cash outflow is its “liquidity coverage ratio,” or LCR, they said. The LCR will apply to all banking organizations with $250B or more in total consolidated assets or $10B or more in on-balance sheet foreign exposure and to these banking organizations’ subsidiary depository institutions that have assets of $10B or more, the agencies reported. The rule also will apply a less stringent, modified LCR to bank holding companies and savings and loan holding companies that do not meet these thresholds, but have $50B or more in total assets. Bank holding companies and savings and loan holding companies with substantial insurance or commercial operations are not covered by the final rule. The final rule is largely identical to the proposed rule, with a few key adjustments in response to comments from the public, the agencies stated. Those adjustments include changes to the range of corporate debt and equity securities included in HQLA, a phasing-in of daily calculation requirements, a revised approach to address maturity mismatch during a 30-day period, and changes in the stress period, calculation frequency, and implementation timeline for the bank holding companies and savings and loan companies subject to the modified LCR. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
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