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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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July 24, 2014
13:07 EDTSODASodaStream levels to watch
Stifel put out a note that called into question an earlier Bloomberg piece that speculated about the prospects for the company going private. Shares had spiked higher on that first report but have since come down off the peak of price set today at $36.53. At the current price of $33.48, next support is at $32.22. Resistance is at $34.38.
12:52 EDTSODASodaStream going private 'highly improbable to impossible,' says Stifel
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12:32 EDTSODAOn The Fly: Midday Wrap
Stocks on Wall Street were slightly higher at midday amid another wave of earnings reports, headlined by Facebook (FB), Caterpillar (CAT), General Motors (GM) and Ford (F). The market has moved in a narrow range as investors try to digest the bevy of earnings reports that were released last night and this morning. The market has also had to battle a negative economic report on new home sales, which not only disappointed in June but saw the prior month revised lower as well. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped 19K to 284K in the week ended July 19. While the BLS said there were no special factors in the claims data, they also reminded that the numbers can be very volatile at this time of year due in part to auto shutdowns. Markit's flash U.S. PMI for July dipped 1 point to 56.3 from 57.3 in June. June new home sales fell 8.1% to a 406K rate, which was worse than expected, and May's data was downwardly revised. In China, HSBC's flash manufacturing Purchasing Managers' Index rose to 52 in July from 50.7 a month earlier. COMPANY NEWS: Facebook achieved a new all-time high and its share price eclipsed $76, a level that was more than double the price of its initial public offering, after its revenue and profits beat expectations. After the report a number of Wall Street analysts hiked their price targets on the stock, with Jefferies and Topeka both raising their targets on the social network operator's stock to $100... Shares of General Motors declined more than 3% after its earnings per share, excluding special items, missed consensus expectations and its revenue also fell short of the analysts' forecast. The company took a $400M special charge related to its ignition switch compensation program, but cautioned that there is no cap on this program and it is possible the total cost could increase by another $200M. Also, GM recorded a non-cash pre-tax special charge of about $900M in the second quarter for the estimated costs of future possible recalls for "up to the next 10 years on 30M GM vehicles on the road today." In contrast, Ford reported earnings per share, excluding special items, and revenue that beat expectations and its stock rose 1%... Caterpillar dropped over 3% after its quarterly revenue missed expectations and it narrowed its outlook for full-year revenue. However, the heavy machine maker's earnings did beat the consensus forecast and it raised it fiscal year profit outlook. MAJOR MOVERS: Among the notable gainers was Sodastream (SODA), which jumped nearly 20% after Bloomberg said the home beverage system maker is in talks with an investment firm on deal that would make it a private company and value it at about $828M, or $40 per share. Also higher following their earnings reports were Under Armour (UA), which rose 15%, and Dr. Pepper Snapple (DPS), which gained 5%. Among the noteworthy losers following their earnings reports were homebuilder DR Horton (DHI), which fell 10%, online travel company TripAdvisor (TRIP), which dropped 9%, and semiconductor chip maker Qualcomm (QCOM), which slid 6%. Also lower was review service operator Angie's List (ANGI), which plunged 19% after reporting second quarter losses per share and revenue that were worse than expected, prompting a number of downgrades of its stock by Wall Street analysts. INDEXES: Near midday, the Dow was up 8.25, or 0.05%, to 17,094.88, the Nasdaq was up 6.10, or 0.14%, to 4,479.80, and the S&P 500 was up 2.98, or 0.15%, to 1,989.99.
11:47 EDTSODASodaStream in talks to go private for around $40 per share, Bloomberg says
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11:41 EDTSODASodaStream jumps 14% after Bloomberg says in talks to go private
Shares are now halted for volatility.
11:40 EDTSODASodaStream in talks to go private for around $40/share, Bloomberg reports
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09:34 EDTGMCRRumor: Keurig Green Mountain weakness attibuted to weak IRI data
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July 23, 2014
13:51 EDTMOSEarnings Preview: Potash sees Q2 earnings per share 40c-45c
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08:34 EDTMOSMosaic to permanently discontinue production of MOP at Carlsbad facility
Mosaic said in a filing that on July 21 it decided to permanently discontinue production of muriate of potash at its Carlsbad, New Mexico facility. The final date for production is expected to be December 31. The decision is based on the quality of the ore in the Carlsbad basin and the age of the facility's infrastructure. These combined factors make it difficult for the operations to remain competitive in an already challenging global market. The discontinuation of this product at Carlsbad is a further step in our previously announced ongoing asset optimization initiatives. Its larger potash production facilities at Esterhazy, Belle Plaine and Colonsay in Saskatchewan, Canada will continue to produce MOP.Mosaicís plan for the immediate future is to transition the Carlsbad facility to the exclusive production of its highly valued K-Mag product line. K-Mag is a premium potash product that currently represents approximately 70% of production at the Carlsbad facility and is a long-term strategic asset for us.We currently estimate that the discontinued production will result in total pre-tax charges in the range of $135M-$160M. The third quarter pre-tax charges are estimated to be in the range of $55M-$77M with the majority of the remainder expected to be recorded in the fourth quarter.
05:16 EDTSTMSTMicroelectronics sees Q3 revenue up about 3%
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05:12 EDTSTMSTMicroelectronics reports Q2 adjusted EPS 11c, consensus 3c
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July 22, 2014
10:00 EDTARCOOn The Fly: Analyst Downgrade Summary
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06:42 EDTARCOArcos Dorados downgraded at HSBC
As previously reported, HSBC downgraded Arcos Dorados to Underweight from Neutral. The firm expects slowing Q2 growth in Brazil to result in downside risk to 2H same-store-estimates and the negative impact in Venezuela exchange to pressure group margins. Price target lowered to $7 from $9.
06:24 EDTARCOArcos Dorados downgraded to Underweight from Neutral at HSBC
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July 21, 2014
07:15 EDTMSIO'Reilly to hold a conference
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July 18, 2014
08:35 EDTSODASodaStream August volatility elevated into Q2 and outlook
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08:31 EDTMOSPotash Corp BG Mosaic could become BHP takeover targets, says Bernstein
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July 17, 2014
07:19 EDTSODASodaStream estimates lowered on weaker Q2 sales trends at KeyBanc
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July 16, 2014
18:03 EDTMDASMedAssets to replace OpenTable in S&P 600 as of 7/23 close
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08:40 EDTMDASMedAssets renews relationship with Baylor Scott & White Health
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