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Stock Market & Financial Investment News

News Breaks
May 22, 2014
10:23 EDTAEO, STM, NX, MSI, MOS, MDAS, GMCR, ARCO, MT, SODAOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Eagle (AEO) downgraded to Sell from Neutral at Citigroup... ArcelorMittal (MT) downgraded to Sell from Neutral at Goldman... Arcos Dorados (ARCO) downgraded to Neutral from Overweight at HSBC... Keurig Green Mountain (GMCR) downgraded at Roth Capital... MedAssets (MDAS) downgraded to Neutral from Buy at BofA/Merrill... Mosaic (MOS) downgraded to Neutral from Outperform at Macquarie... Motorola Solutions (MSI) downgraded at Mizuho... Quanex (NX) downgraded to Neutral from Outperform at Wedbush... STMicroelectronics (STM) downgraded to Underweight from Neutral at HSBC... SodaStream (SODA) downgraded to Underweight from Equalweight at Barclays.
News For AEO;MT;ARCO;GMCR;MDAS;MOS;MSI;NX;STM;SODA From The Last 14 Days
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September 16, 2014
07:38 EDTSODASodaStream in talks to sell itself to British fund, TheMarker says
SodaStream is in talks to sell itself to a "British investment fund" for $840M, or $40 per share, according to Israel's TheMarker, citing "capital market" sources. Shares of SodaStream trading in New York are up nearly 4% early in pre-market trading following the Hebrew-language report. Reference Link
07:09 EDTAEOAmerican Eagle upgraded to Overweight from Equal Weight at Stephens
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05:41 EDTSTMSTMicroelectronics to sell certain products to MegaChips
MegaChips Technology America announced that following the signature of an agreement with STMicroelectronics (STM, ST) and final closing on September 2, it has acquired 9 smart connectivity products based on DisplayPort technology that ST decided to discontinue last year, along with its related assets, business and products in development. During the transition, ST and MegaChips ensured continuity of products and services to customers. A number of employees engaged in product development and marketing in relation to the acquired business from ST, joined MegaChips America. This group included Mr. Alan Kobayashi, currently the chair of VESA, who joined MegaChips America as a Fellow and Product Development Manager.
September 15, 2014
11:00 EDTMTArcelorMittal, Gerdau sell Gallatin Steel facility for $770M
ArcelorMittal (MT) and Gerdau (GGB) jointly announced that they have entered into a definitive transaction agreement to sell their respective 50% interests in Gallatin Steel to Nucor (NUE) for a total cash consideration of $770M, subject to customary closing adjustments. Completion of the sale is subject to customary closing conditions, including expiration of the Hart Scott Rodino Antitrust Improvements Act waiting period. The closing of the transaction is not subject to any financing conditions and is expected to be realized by the end of 2014. Reference Link
September 11, 2014
12:03 EDTMOSUSDA raises U.S. corn yield forecast to record
In its monthly World Agricultural Supply and Demand Estimates, or WASDE, report, the U.S. Department of Agriculture's corn yield forecast is raised 4.3 bushels per acre to a record 171.7 bushels. Corn production for 2014/15 is forecast 363 million bushels higher at a record 14,395 million bushels. Total 2014/15 corn usage is projected at 13,605 million bushels, up 170 million from last month. Although a record, usage is expected up just 5 million bushels from 2013/14 as export prospects remain constrained by large foreign carryin stocks, the USDA wrote. Publicly traded companies in the agriculture space include Agrium (AGU), Andersons (ANDE), Archer Daniels (ADM), Bunge (BG), CF Industries (CF), Compass Minerals (CMP), DuPont (DD), Intrepid Potash (IPI), Monsanto (MON), Mosaic (MOS), Potash (POT) and Syngenta (SYT).
07:29 EDTSTMDeutsche Bank to hold a conference
Technology Conference to be held in Las Vegas on September 9-11 with webcasted company presentations to begin on September 11 at 10:30 am; not all company presentations may be webcasted. Webcast Link
September 10, 2014
14:55 EDTMDASMedAssets management to meet with Jefferies
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10:00 EDTSTMOn The Fly: Analyst Downgrade Summary
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10:00 EDTMTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: African Barrick Gold (ABGLY) upgraded to Neutral from Sell at Goldman... ArcelorMittal (MT) upgraded to Overweight from Underweight at Barclays... CRH Plc. (CRH) upgraded to Outperform from Underperform at Raymond James... Callon Petroleum (CPE) upgraded to Buy from Neutral at SunTrust... Coach (COH) upgraded to Overweight from Neutral at Atlantic Equities... Hartford Financial (HIG) upgraded to Outperform from Market Perform at FBR Capital... Huntsman (HUN) upgraded to Buy from Neutral at Citigroup... Imperva (IMPV) upgraded to Outperform from Perform at Oppenheimer... L Brands (LB) upgraded at Credit Suisse... Marcus (MCS) upgraded to Buy from Neutral at B. Riley... Noodles & Company (NDLS) upgraded to Buy from Neutral at UBS... Sunoco Logistics (SXL) upgraded to Overweight from Equal Weight at Barclays... Triangle Petroleum (TPLM) upgraded to Buy from Accumulate at KLR Group... Twitter (TWTR) upgraded to Buy from Neutral at UBS.
07:53 EDTSTMDeutsche Bank to hold a conference
Technology Conference to be held in Las Vegas on September 9-11 with webcasted company presentations to begin on September 10 at 10:30; not all company presentations may be webcasted. Webcast Link
06:33 EDTSTMSTMicroelectronics downgraded to Neutral from Outperform at RW Baird
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05:29 EDTMTArcelorMittal upgraded to Overweight from Underweight at Barclays
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September 9, 2014
10:10 EDTMOSOn the Fly: Analyst Downgrade Summary
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10:10 EDTMTOn the Fly: Analyst Upgrade Summary
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08:52 EDTMOSFertilizer estimates lowered at Cowen
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08:20 EDTMOSMosaic downgraded at RBC Capital
As noted earlier, RBC Capital downgraded Mosaic to Sector Perform from Outperform. The firm downgraded the stock based on higher phosphate input costs and concerns about potash market fundamentals. Target to $51 from $55.
07:05 EDTNXQuanex backs FY14 revenue guidance of up 8%-9%
Lowers FY14 EBITDA view to $53M-$55M. As previously disclosed, CDI, the vinyl resin pricing index, has increased by 11% so far in 2014, with a further 2% to 4% possible in Q4. Much of the increase realized thus far could not be passed on to certain customers due to previously negotiated contracts. In addition, the underinvestment in extrusion equipment during the housing recession, combined with the increase in volumes this summer, has caused a higher incidence of equipment failures resulting in higher repair and maintenance costs, higher scrap levels and higher labor inefficiencies. These higher operating costs are expected to continue throughout this calendar year. However, the company has recently taken delivery of five new high output extrusion lines which, along with several other initiatives already underway, will allow Quanex to return to a more normal operating cost environment entering calendar 2015 and beyond. Contract negotiations to recover resin cost increases will span the remainder of calendar 2014 with implementation in January 2015.
07:03 EDTNXQuanex reports Q3 EPS 23c, consensus 20c
Reports Q3 revenue $169.98M, consensus $166.06M.
06:34 EDTMOSMosaic downgraded to Sector Perform from Outperform at RBC Capital
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05:23 EDTMTArcelorMittal upgraded to Outperform from Neutral at Credit Suisse
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