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Stock Market & Financial Investment News

News Breaks
July 17, 2014
10:00 EDTTWX, IGT, ENH, AFL, SM, FRC, CLC, KED, ENOC, ALGTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Aflac (AFL) upgraded to Outperform from Market Perform at Raymond James... Allegiant Travel (ALGT) upgraded to Buy from Fair Value at CRT Capital... Clarcor (CLC) upgraded to Outperform from Neutral at RW Baird... Endurance Specialty (ENH) upgraded to Buy from Neutral at Janney Capital... EnerNOC (ENOC) upgraded to Strong Buy with $28 target at Needham... First Republic Bank (FRC) upgraded to Strong Buy from Outperform at Raymond James... International Game (IGT) upgraded to Neutral from Sell at Goldman... Kayne Anderson (KED) upgraded to Buy from Hold at Stifel... SM Energy (SM) upgraded to Buy from Neutral at Guggenheim... Time Warner (TWX) upgraded to Buy from Neutral at Guggenheim
News For AFL;ALGT;CLC;ENH;ENOC;FRC;IGT;KED;SM;TWX From The Last 14 Days
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February 26, 2015
10:01 EDTTWXRumor: Time Warner active on speculation of a large investor stake
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February 25, 2015
11:47 EDTTWXAnalysts clash on DreamWorks following Q4 miss
The shares of animated film and television show maker DreamWorks (DWA) are rising, despite the weaker than expected results reported by the company last night. Two analysts offered very different views on the company's outlook following its results. BACKGROUND: DreamWorks last night reported a fourth quarter per share loss of ($3.08), versus analysts' consensus outlook for a ($3.01) per share loss. The company's revenue also came in below expectations. Excluding $210M in pre-tax charges associated with DreamWorks' restructuring plan, its loss was (75c) per share, the company stated. BEARISH TAKE: In a note to investors today, FBR Capital analyst Barton Crockett wrote that DreamWorks' results were "ugly," as they included $155M of write-offs on films and TV shows. However, Crockett believes that the crucial factor for the company's outlook is whether it can consistently compete with the entertainment giants, including Disney (DIS), Viacom (VIA), and Time Warner (TWX). Crockett is not convinced that DreamWorks will be able to hold its own, and he believes that its 2015 results could come in below expectations. The analyst warned that the company may have difficulty meeting its 2015 consumer products revenue guidance. DreamWorks expects its consumer products revenue to double this year, but the movie-based toy space is "very competitive" in 2015, as toys based on multiple popular children's films are set to be released, Crockett stated. Moreover, after conducting checks online, Crockett reports that there does not seem to be a great deal of interest in DreamWorks' movie "Home," which is set to be released on March 27. He kept an Underperform rating on the shares and raised his price target on the stock to $14 from $12. BULLISH TAKE: DreamWorks' results were mixed, but the results are not very important, Piper Jaffray analyst James Marsh stated. The company's guidance for its TV and consumer products businesses were solid, the analyst believes. Moreover, the company "took specific and decisive action" to avert a liquidity crunch, Marsh wrote. Specifically, DreamWorks raised $185M of capital by selling its real estate in Glendale, California and then leasing it back, and increased the size of its current credit facility to $450M from $400M, Marsh reported. The moves should "largely" eliminate investors' worries about the company's liquidity position, Marsh stated. He kept a $26 price target and Overweight rating on the stock. WHAT'S NOTABLE: On DreamWorks' earnings conference call last night, the company's CEO Jeffrey Katzenberg stated that it did not obtain more than 10% of its revenue from Netflix (NFLX) last year. However, in an SEC filing earlier this morning, DreamWorks clarified that it had obtained 14.9% of its revenue from Netflix last year. PRICE ACTION: In late morning trading, DreamWorks rose 5.6% to $22.31.
February 24, 2015
17:37 EDTSMSM Energy estimate of proved reserves as of December 31, 2014, 547.7 MMBOE
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17:36 EDTSMSM Energy sees FY15 production 60.4 to 63.5 MMBOE
Based on the capital budget and program, SM Energy anticipates full-year 2015 production to range from 60.4 to 63.5 MMBOE (165 - 174 MBOE/d). The midpoint of the company's provided guidance represents annual production growth of approximately 12% year over year. Production for the first quarter of 2015 is expected to be essentially flat to the fourth quarter of 2014, with production declining approximately 1% per quarter for the remainder of the year due to the reduction in rig activity and deferral of well completions throughout the year. The company's production mix for 2015 is expected to be similar to that of 2014.
17:35 EDTSMSM Energy sees FY15 CapEx $1.2B, down 43% from FY14 levels, ex-acquisitions
17:34 EDTSMSM Energy reports Q4 adjusted EPS $1.05, consensus $1.10
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17:17 EDTALGTAllegiant Travel announces the purchase of two additional A320 aircraft
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10:00 EDTKEDOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AMC Networks (AMCX) downgraded to Neutral from Outperform at Macquarie... American Airlines (AAL) downgraded to Market Perform at Cowen... Armstrong World (AWI) downgraded to Hold from Buy at KeyBanc... Basic Energy (BAS) downgraded to Outperform from Strong Buy at Raymond James... CSC (CSC) downgraded at Stifel... Chevron (CVX) downgraded to Perform from Outperform at Oppenheimer... Choice Hotels (CHH) downgraded to Underweight from Equal Weight at Barclays... Eni SpA (E) downgraded to Underperform from Hold at Jefferies... Fifth Street Asset (FSAM) downgraded to Neutral from Outperform at Credit Suisse... HSBC (HSBC) downgraded to Neutral from Buy at UBS... Home Loan Servicing (HLSS) downgraded to Neutral from Overweight at Piper Jaffray... Huntington Ingalls (HII) downgraded to Underperform from Neutral at Credit Suisse... International Paper (IP) downgraded to Hold from Buy at Deutsche Bank... Kayne Anderson (KED) downgraded at Stifel... Landstar System (LSTR) downgraded to Hold from Buy at Deutsche Bank... Multi-Color (LABL) downgraded to Neutral from Long-Term Buy at Hilliard Lyons... Newmont Mining (NEM) downgraded to Neutral from Overweight at HSBC... ONEOK Partners (OKS) downgraded to Underweight from Neutral at JPMorgan... ONEOK (OKE) downgraded to Underweight from Neutral at JPMorgan... Olympic Steel (ZEUS) downgraded to Underperform from Neutral at Credit Suisse... Polypore (PPO) downgraded to Market Perform from Outperform at William Blair... Rosetta Resources (ROSE) downgraded to Equal Weight from Overweight at Stephens... Salix (SLXP) downgraded to Neutral from Buy at UBS... Sprint (S) downgraded to Sell from Neutral at BTIG... St. Jude Medical (STJ) downgraded to Underperform from Outperform at Credit Suisse... Timmins Gold (TGD) downgraded on lack of near-term production catalysts at RBC Capital... Transocean Partners (RIGP) downgraded to Underweight from Equal Weight at Barclays... Vodafone (VOD) downgraded to Underperform from Neutral at BofA/Merrill... Williams Partners (WPZ) downgraded to Neutral from Buy at Citigroup... Williams (WMB) downgraded to Neutral from Buy at Citigroup... Worthington (WOR) downgraded to Neutral from Outperform at Credit Suisse... Zillow Group (Z) downgraded at Macquarie.
07:45 EDTKEDKayne Anderson downgraded at Stifel
As noted earlier, Stifel downgraded Kayne Andersen to Hold from Buy. The firm downgraded the stock based on valuation.
06:31 EDTKEDKayne Anderson downgraded to Hold from Buy at Stifel
06:10 EDTTWXSalem Media Group, CNN to team up for three GOP presidential primary debates
05:21 EDTALGTAllegiant Travel announces 22 new routes for non-stop jet service
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February 23, 2015
11:35 EDTTWXAmazon picks Benson to head advertising for original TV series, Variety says
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07:38 EDTTWXComcast, AT&T deals could be delayed by document access case, WSJ says
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06:01 EDTALGTAllegiant Travel announces purchase of six A319 aircraft
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February 19, 2015
08:15 EDTTWXWarner Bros. exec says not in talks with Apple on streaming, Re/code reports
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07:25 EDTTWXCable nets speed up shows to add more ads, WSJ says
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February 18, 2015
17:54 EDTALGTAllegiant Travel reinstated with a Buy at BofA/Merrill
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February 17, 2015
13:18 EDTTWXOmega Advisors gives quarterly update on stakes
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February 13, 2015
16:58 EDTTWXGreenlight Capital gives quarterly update on stakes
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