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Stock Market & Financial Investment News

News Breaks
February 5, 2014
10:04 EDTRPTP, TSH, BBG, VTSS, MYGN, SYT, ETN, TGI, SIRI, OAS, ITC, CENX, CSGS, ANGI, BIRT, AGCOOn the Fly: Analyst Downgrade Summary
AGCO (AGCO) downgraded to Market Perform from Outperform at BMO Capital... Actuate (BIRT) downgraded to Hold from Buy at Drexel Hamilton... Angie's List (ANGI) downgraded to Neutral from Buy at BofA/Merrill... CSG Systems (CSGS) downgraded to Underweight from Neutral at JPMorgan... Century Aluminum (CENX) downgraded to Market Perform from Outperform at Cowen... ITC Holdings (ITC) downgraded to Neutral from Buy at ISI Group... Oasis Petroleum (OAS) downgraded to Buy from Conviction Buy at Goldman... Sirius XM (SIRI) downgraded to Hold from Buy at Wunderlich... Triumph Group (TGI) downgraded to Neutral from Buy at BofA/Merrill... James River Coal (JRCC) downgraded at Sterne Agee... Eaton (ETN) downgraded at MKM Partners... Syngenta (SYT) downgraded to Buy from Conviction Buy at Goldman... Myriad Genetics (MYGN) downgraded to Neutral from Buy at Ladenburg... Vitesse (VTSS) downgraded to Hold from Buy at Craig-Hallum... Bill Barrett (BBG) downgraded to Neutral from Accumulate at Global Hunter... Teche Holding (TSH) downgraded to Market Perform from Outperform at Fig Partners... Raptor Pharmaceuticals (RPTP) downgraded to Underperform from Neutral at Wedbush.
News For AGCO;BIRT;ANGI;CSGS;CENX;ITC;OAS;SIRI;TGI;ETN;SYT;MYGN;VTSS;BBG;TSH;RPTP From The Last 14 Days
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October 23, 2014
06:44 EDTANGIAngie's List downgraded to Hold from Buy at Wunderlich
Wunderlich downgraded Angie's List to Hold following the company's Q3 results saying its platform changes are not translating into better financial results. The firm lowered its price target for shares to $8 from $13. Shares of Angie's were also downgraded this morning at Piper Jaffray and Raymond James.
06:13 EDTANGIAngie's List downgraded to Underperform from Market Perform at Raymond James
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05:32 EDTANGIAngie's List downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray downgraded Angie's List to Neutral citing challenging fundamentals following the company's September quarter results. Piper notes Angie's reported soft new customer and service provider additions. The firm lowered its price target for shares to $7 from $12.
October 22, 2014
14:11 EDTANGIAngie's List valuation attractive with today's sell-off, says Barrington
Barrington lowered its price target for Angie's List shares to $10 from $15 following the company's Q3 results but says the stock is attractively valued with today's pullback. The firm notes Angie's management neither confirmed nor denied the rumor that it's shopping itself to a buyer. Barrington sees private equity as a more likely near]term buyer than strategic alternatives. It keeps an Outperform rating on the stock.
09:21 EDTANGIOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Dow Chemical (DOW), up 3.7%... iRobot (IRBT), up 12%... Six Flags (SIX), up 13%... GlaxoSmithKline (GSK), up 2%... Broadcom (BRCM), up 7%... Boston Scientific (BSX), up 4.3%... Abbott (ABT), up 1.8%... Yahoo! (YHOO), up 6%. ALSO HIGHER: Blue Earth (BBLU), up 26.4% after CEO says statements in Seeking Alpha blog are "false and misleading."... GW Pharmaceuticals (GWPH), up 5.4% after Epidiolex receives orphan designation from EMA. DOWN AFTER EARNINGS: 3D Systems (DDD), down 15%... Biogen (BIIB), down 7%... Lumber Liquidators (LL), down 13.4%... Norfolk Southern (NSC), down 3%... Angie's List (ANGI), down 8.8%. ALSO LOWER: Nanosphere (NSPH), down 33% after filing secondary, reporting preliminary Q3 revenue... Himax Technologies (HIMX), down 16% after announcing that Google (GOOG) will not exercise an additional investment option in the company... Cree (CREE), down 10.5%, downgraded at DA Davidson and Canaccord following the company's Q1 earnings results... Ocwen Financial (OCN), down 7% after downgraded to Hold at Evercore, downgraded to Neutral at BofA Merrill Lynch... VMware (VMW), down 7.8%, downgraded at Nomura and Raymond James following the company's Q3 results.
07:08 EDTANGIAngie's List reports Q3 memberships added 350.38K vs. 371.32K last year
Angie's List reports Q3 gross paid memberships added down 6% versus last year. Total paid memberships were 2.98M at the end of Q3 compared to 2.38M last year. Marketing cost per paid membership acquisition was $64 in Q3 versus $76 last year.
07:03 EDTANGIAngie's List sees Q4 revenue $80M-$82M, consensus $84.15M
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07:02 EDTANGIAngie's List reports Q3 EPS (9c), consensus (6c)
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October 21, 2014
09:02 EDTBIRTActuate, Braille Works, Venatore announce collaboration
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October 20, 2014
07:22 EDTETNSolar Energy Trade Shows to hold a conference
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07:16 EDTANGIAmerican Academy of Ophthalmology to hold annual meeting
AAO Annual Meeting 2014 is being held in Chicago on October 18-21.
October 19, 2014
16:28 EDTSYTSyngenta faces more lawsuits over genetically engineered corn seeds, WSJ says
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October 17, 2014
12:52 EDTMYGNOn The Fly: Midday Wrap
Stocks on Wall Street were sharply higher at midday, as the averages bounce back following steep declines in several recent sessions. Better than expected earnings from General Electric (GE) and Morgan Stanley (MS), a rebound in European stock markets and a stronger than expected reading on U.S. consumer confidence may all be contributing to the brightened mood evidenced by today's trading. ECONOMIC EVENTS: In the U.S., housing starts rebounded 6.3% to a 1.017M pace in September, beating expectations for a monthly increase of 4.6%. Building permits increased 1.5% to a 1.018M rate, which was below the expected 2.3% rise. The first release on the University of Michigan's consumer sentiment index for October came in at 86.4, versus expectations for a decline to 84.0 from the prior 84.6 reading. COMPANY NEWS: General Electric shares rose over 3% after the company reported better than expected third quarter profit and nearly in-line revenues. Morgan Stanley, whose quarterly results also topped Street expectations, advanced 2.5%. MAJOR MOVERS: Among the notable gainers was Westmoreland Coal (WLB), which gained 23% after it stuck a deal to acquire Oxford GP, the general partner of Oxford Resource Partners (OXF), and contribute certain royalty bearing coal reserves to Oxford in return for Oxford common units. Afterward, Brean Capital raised its price target on Westmoreland to $60, noting the announcement represents an entry into the MLP space. Also higher were shares of Textron (TXT), which advanced 11% after the aircraft and defense company reported better than expected third quarter earnings per share and raised its profit outlook for fiscal 2014. Among the noteworthy losers was Urban Outfitters (URBN), which dropped 13% and was downgraded by at least three Street research firms after the owner of Anthropologie and its namesake clothing stores warned that its Q3 earnings may be negatively impacted by continued weakness in its comparable retail sales. Also lower was Myriad Genetics (MYGN), which fell 7% after guiding to lower than expected Q1 adjusted earnings, citing a higher than expected increase in costs to perform its myRisk Hereditary Cancer test following the test's national launch. INDEXES: Near midday, the Dow was up 295.34, or 1.83%, to 16,412.58, the Nasdaq was up 62.43, or 1.48%, to 4,279.82, and the S&P 500 was up 29.48, or 1.58%, to 1,892.24.
10:00 EDTITCOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AK Steel (AKS) upgraded to Buy from Neutral at Nomura... AMD (AMD) upgraded to Sector Perform from Underperform at Pacific Crest... Atlantic Power (AT) upgraded to Market Perform from Underperform at BMO Capital... Basic Energy (BAS) upgraded to Outperform from Market Perform at Cowen... BorgWarner (BWA) upgraded to Buy from Hold at Deutsche Bank... CA Technologies (CA) upgraded to Overweight from Equal Weight at Barclays... Calumet Specialty Products (CLMT) upgraded to Outperform at Wells Fargo... DHT Holdings (DHT) upgraded to Buy from Hold at Evercore... Exelon (EXC) upgraded to Neutral from Sell at Citigroup... Fifth Third Bancorp (FITB) upgraded to Buy from Neutral at Citigroup... Goldman Sachs (GS) upgraded to Outperform from Market Perform at Keefe Bruyette... Helmerich & Payne (HP) upgraded to Buy from Neutral at UBS... Hilton (HLT) upgraded to Buy from Neutral at SunTrust... Hyatt Hotels (H) upgraded to Outperform from Neutral at Macquarie... IPG Photonics (IPGP) upgraded at Stifel... ITC Holdings (ITC) upgraded to Neutral from Underperform at Credit Suisse... Manpower (MAN) upgraded to Outperform from Market Perform at Avondale... Nabors Industries (NBR) upgraded to Outperform from Market Perform at Cowen... Newpark Resources (NR) upgraded at Cowen... Old Dominion (ODFL) upgraded to Buy from Neutral at Longbow... PDC Energy (PDCE) upgraded at SunTrust... Patterson-UTI (PTEN) upgraded to Buy from Neutral at UBS... PrivateBancorp (PVTB) upgraded to Outperform from Neutral at Macquarie... QLogic (QLGC) upgraded to Buy from Hold at Summit Research... RPC, Inc. (RES) upgraded at Cowen... Sonoco (SON) upgraded to Neutral from Underperform at DA Davidson... Southwestern Energy (SWN) upgraded to Outperform from Market Perform at Raymond James... SunEdison (SUNE) upgraded to Outperform at Cowen... TSMC (TSM) upgraded to Buy from Neutral at Mizuho... Tesco (TESO) upgraded to Outperform from Market Perform at Cowen... UnitedHealth (UNH) upgraded to Outperform from Market Perform at Leerink... Xilinx (XLNX) upgraded to Outperform from Market Perform at Wells Fargo.
08:53 EDTTGITriumph Group acquires North American Aircraft Services
Triumph Group announced the acquisition of North American Aircraft Services. The acquired business will operate as Triumph Aviation Services, NAAS Division and be included in the Aftermarket Services Group. The business is expected to add approximately $35M in annual revenue and to be immediately accretive to earnings.
07:16 EDTMYGNMyriad Genetics receives draft medicare coverage for Prolaris
Myriad Genetics announced that Palmetto GBA, a Medicare Administrative Contractor, or MAC, that assesses molecular diagnostic technologies, has issued a draft local coverage determination, or LCD, for Prolaris, Myriad's prostate cancer test. The LCD is posted to the Medicare Coverage Database on the Centers for Medicare & Medicaid Services, or CMS, website and establishes the coverage policy for Medicare beneficiaries. The current language in the draft LCD provides reimbursement coverage for the approximately 50% of prostate cancer patients defined as low and very low risk. Under Medicare rules, the draft LCD is subject to a minimum 45-day public comment period. After comments are considered, a final LCD is issued, which goes into effect after a minimum 45-day notification period.
07:14 EDTMYGNMyriad Genetics sees FY15 EPS $1.90-$2.00, consensus $1.93
Backs FY15 revenue guidance of $800M-$820M, consensus 804.15M.
07:14 EDTMYGNMyriad Genetics sees Q1 adjusted EPS 25c, consensus 41c
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07:00 EDTMYGNMyriad Genetics trading halted, pending news
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06:42 EDTITCITC Holdings upgraded to Neutral from Underperform at Credit Suisse
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