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Stock Market & Financial Investment News

News Breaks
November 16, 2012
10:07 EDTAEO, FTR, JBLU, CCE, TZYM, DRYS, XSRAYOn The Fly: Analysts Downgrade Summary
Today's noteworthy downgrades include: American Eagle (AEO) downgraded to Market Perform from Outperform at BMO Capital...Frontier Communications (FTR) downgraded to Sell from Neutral at Goldman...JetBlue (JBLU) downgraded to Sell from Neutral at Goldman...Coca-Cola Enterprises (CCE) downgraded to Underperform from Outperform at CLSA...Tranzyme (TZYM) downgraded to Hold from Buy at Canaccord and to Market Perform from Outperform at BMO Capital...DryShips (DRYS) downgraded to Neutral from Buy at Global Hunter...Xstrata (XSRAY) downgraded to Sector Perform from Outperform at RBC Capital.
News For AEO;FTR;JBLU;CCE;TZYM;DRYS;XSRAY From The Last 14 Days
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October 23, 2014
16:42 EDTDRYSDryShips files automatic common stock shelf
DryShips announced that it launched an offering of its common stock, par value $0.01 per share. RS Platou Markets, Inc. and Pareto Securities Inc. are acting as joint lead managers, joint bookrunners and placement agents in the offering. ABN AMRO Securities LLC is acting as joint lead manager and placement agent. DVB Capital Markets LLC is acting as co-manager and placement agent. RS Platou Markets AS and Pareto Securities AS are acting as placement agents. RS Platou Markets AS and Pareto Securities AS are not U.S. registered broker-dealers and to the extent that this offering is made within the United States, their activities will be effected only to the extent permitted by Rule 15a-6 of the Securities Exchange Act of 1934, as amended. The company intends to use the net proceeds from the offering to repurchase a portion of its $700M principal amount of indebtedness under the 5.0% Convertible Senior Notes maturing on December 1, 2014.
10:54 EDTJBLUOptions with decreasing implied volatility
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09:55 EDTJBLUJetBlue sees October PRASM up 1%-2% y/y
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07:46 EDTCCECoca-Cola Enterprises sees FY14 free cash flow $650M
Sees FY14 CapEx approximately $325M in FY14. Weighted-average cost of debt is expected to be approximately 3% in FY14 and the comparable effective tax rate is expected to be approximately 27%. The company said, "While our revised operating outlook is below our original expectations for the year, we remain focused on seeking ways to improve growth, generate cash from operations, optimize our balance sheet, and importantly, use cash to create shareowner value." Says based on recent rates, currency translation would benefit FY14 earnings per diluted share by approximately 3%.
07:39 EDTJBLUJetBlue sees Q4 CASM down 3%-1%, 2014 CASM up 1%-3%
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07:38 EDTJBLUJetBlue reports Q3 EPS 24c, consensus 26c
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07:37 EDTCCECoca-Cola Enterprises sees FY14 revenues 'essentially flat'
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07:36 EDTCCECCE sees FY14 comparable, currency-neutral EPS growth approx.10%
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07:35 EDTCCECoca-Cola Enterprises reports Q3 EPS 92c, consensus 88c
Reports Q3revenue $2.14B, consensus $2.22B.
October 22, 2014
15:37 EDTCCENotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Comcast (CMCSA), consensus 71c; Union Pacific (UNP), consensus $1.52; 3M (MMM), consensus $1.96; AbbVie (ABBV), consensus 77c; Celgene (CELG), consensus 95c; Eli Lilly (LLY), consensus 67c; Occidental Petroleum (OXY), consensus $1.57; Caterpillar (CAT), consensus $1.36; Alexion Pharmaceuticals (ALXN), consensus $1.16; Precision Castparts (PCP), consensus $3.32; Raytheon (RTN), consensus $1.60; American Electric Power (AEP), consensus $1.02; Southwest Airlines (LUV), consensus 53c; Lorillard (LO), consensus 90c; T. Rowe Price (TROW), consensus $1.15; Mead Johnson (MJN), consensus 91c; Zimmer Holdings (ZMH), consensus $1.30; Nucor (NUE), consensus 73c; Nielsen (NLSN), consensus 65c; Prologis (PLD), consensus 46c; Sigma-Aldrich (SIAL), consensus $1.06; Under Armour (UA), consensus 40c; EQT (EQT), consensus 56c; Dr Pepper Snapple (DPS), consensus 88c; Cameron International (CAM), consensus $1.10; Coca-Cola Enterprises (CCE), consensus 89c; Quest Diagnostics (DGX), consensus $1.08; CMS Energy (CMS), consensus 41c; Airgas (ARG), consensus $1.29; PulteGroup (PHM), consensus 36c; Diamond Offshore (DO), consensus 79c; Bemis (BMS), consensus 67c.
07:29 EDTJBLUJetBlue November volatility elevated into Q3 and outlook
JetBlue November call option implied volatility is at 48, December is at 47, January is at 46; compared to its 26-week average of 38 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on October 23.
October 21, 2014
10:00 EDTAEOOn The Fly: Analyst Initiation Summary
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07:30 EDTJBLUU.S. airlines raise domestic one-way fares by $2 on average, Reuters reports
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06:06 EDTAEOAmerican Eagle initiated with an Outperform at BlueFin
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October 20, 2014
09:52 EDTDRYSDryShips unit awarded contract extensions
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09:49 EDTDRYSDryShips expects Q3 EBITDA $265M-$300M
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09:45 EDTDRYSOcean Rig UDW says stock price does not reflect true value
George Economou, Ocean Rig UDW CEO, said in a press release, "We do not believe that the current stock price of Ocean Rig reflects the true value of company, which stock price has be adversely affected by the recent volatility of the oil price. The loan from Ocean Rig to Dryships is just a backstop in case Dryships need more time to execute on its various alternatives to refinance its Convertible Notes due December 1, 2014, and will be repaid as soon as possible. Ocean Rig with its high specification, pure play UDW fleet and solid balance sheet and backlog is uniquely positioned amongst its clients. Ocean Rig's newbuilding program in 2016 and 2017 provides further growth into a market we believe in and its solid backlog supports for dividends and other value creation initiatives, such as the MLP." Ocean Rig shares are down 10c to $13.34 while its parent DryShips is rallying 24c to $1.93 in early trading.
09:39 EDTDRYSOcean Rig UDW lends $120M to DryShips, extends Petrobras contracts
Ocean Rig UDW (ORIG) said it has agreed to lend its parent company, DryShips (DRYS), up to $120M of immediate liquidity through a short-term unsecured loan. The proceeds will be used, if needed, to repay Dryships’ 5% Convertible Notes maturing in Dec. 1. Ocean Rig has declared its third consecutive quarterly cash dividend with respect to the quarter ended September 30, of 19c per common share, to shareholders of record as of October 31, and payable on or about November 11. Ocean Rig added that it has been awarded extensions of the drilling contracts for its two ultra deepwater drillships, the Ocean Rig Corcovado and the Ocean Rig Mykonos by Petrobras (PBR) for drilling offshore Brazil. The contract extensions are subject to partner approvals. The term of each extension is for 1,095 days with a total combined revenue backlog of over $1.1Bm excluding reimbursement by Petrobras for contract related equipment upgrades. The new contracts will commence in direct continuation from the end of the current agreements with Petrobras, in Q1 and Q2 of 2015. Ocean Rig also signed an amendment with Total E&P Angola to extend the date by which Total E&P Angola should exercise the option to extend the term of the contract for two additional one-year periods. The first option is now exercisable until February 27, 2015 and the second option exercisable within one year after the date of exercise of the first option.
09:36 EDTJBLUActive equity options trading on open
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October 17, 2014
10:43 EDTAEOUrban Outfitters slumps after warning on continued retail sales weakness
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