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Stock Market & Financial Investment News

News Breaks
February 10, 2014
13:46 EDTAGCO, DEWASDE report negative for AGCO, Deere, says Wells Fargo
Wells Fargo said the latest WASDE report from the USDA is a negative for AGCO (AGCO) and Deere (DE), as it implies negative year-over-year cash flow for row crop farmers, likely affecting farm equipment demand in 2014. The firm maintains an Underperform rating on shares of both companies.
News For AGCO;DE From The Last 14 Days
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October 16, 2014
11:17 EDTDE, AGCOTitan downturn warning seen as negative for Deere, AGCO
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09:41 EDTAGCO, DETitan outlook negative for AGCO, Deere, says Wells Fargo
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October 13, 2014
07:08 EDTDEDeere reports September U.S./Canada utility tractor sales up more than 28%
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October 8, 2014
08:49 EDTDEDeere price target lowered to $69 from $78 at Goldman
Goldman lowered Deere estimates and reduced its price target to $69 based on lower AG and TURF margin forecasts, and declining financial services margins. The firm reiterates its Sell rating based on an extended multi-year downturn in the ag equipment industry.
October 7, 2014
16:19 EDTAGCO, DEOn The Fly: Closing Wrap
Stocks on Wall Street opened in negative territory and remained there for the entire session. A weak industrial production report out of Germany and the IMF's lowering of its global growth forecast filled the news void left by another relatively light day on the domestic economic calendar. The volume was heavy and the selling was broad based, with each of the major equity indexes losing more than 1.5%. ECONOMIC EVENTS: In the U.S., the Job Openings and Labor Turnover Survey, or JOLTs report, showed job openings surged 230K to 4.835M in August, marking their highest level since January 2001. Consumer credit rose only $13.5B in August, missing expectations for an increase in credit of $20B. In Europe, German industrial production dropped 4% sequentially in August on an adjusted basis, which was a steeper slide than economists forecast and its biggest decline since January 2009. Also of note, the International Monetary Fund cut its global economic growth forecasts for the third time this year. The growth forecast for 2014 was trimmed to 3.3% from a July forecast of 3.4%, while the 2015 projection was lowered to 3.8% from 4.0% previously. COMPANY NEWS: AGCO (AGCO) fell $4.97, or 10.55%, to $42.13 after the company lowered its third quarter view and cut its fiscal year 2014 earnings per share outlook for a second time after previously lowering it in July. The stock, along with several others in the U.S. machinery industry, were downgraded today at Bank of America Merrill Lynch. Merrill also downgraded Deere (DE) to Underperform from Neutral this morning, citing the collapse in corn and soybean pricing and the strengthening U.S. dollar, and its shares also declined $2.83, or 3.42%, to $80.01. MAJOR MOVERS: Among the notable gainers was GT Advanced (GTAT), which rebounded 41c, or 51.25%, to $1.21 following its sharp, 93% decline yesterday after its unexpected bankruptcy filing. Today's recovery, however, still leaves the stock far below the $11 per share level where it began yesterday's trading session. Also higher was CalAmp (CAMP) which rose $3.47, or 21.03%, to $19.97 and was upgraded to Outperform at Macquarie after the wireless technology solutions maker's Q2 report. Among the noteworthy losers was SodaStream (SODA), which sunk $6.05, or 21.94%, to $21.52 after the home beverage carbonation system maker warned that revenue for its third quarter will come in well below Wall Street estimates. Also lower were shares of The Container Store Group (TCS), which dropped $5.45, or 24.9%, to $16.44 after the company lowered its fiscal 2014 outlook. The decline sent the stock below the $18.00 level, where its initial public offering priced last November. INDEXES: The Dow dropped 272.52, or 1.6%, to 16,719.39, the Nasdaq fell 69.60, or 1.56%, to 4,385.20, and the S&P 500 declined 29.73, or 1.51%, to 1,935.09.
12:09 EDTAGCO, DEOn The Fly: Midday Wrap
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10:50 EDTDE, AGCOAGCO shares slide as company cuts outlook, U.S. machinery sector downgraded
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10:18 EDTAGCOHigh option volume stocks
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10:02 EDTAGCO, DEOn The Fly: Analyst Downgrade Summary
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09:21 EDTAGCOAGCO downgraded to Neutral from Buy at Janney Capital
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09:14 EDTDE, AGCOOn The Fly: Pre-market Movers
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07:23 EDTAGCOAGCO downgraded to Neutral from Buy at BofA/Merrill
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07:23 EDTDEDeere downgraded to Underperform from Neutral at BofA/Merrill
BofA/Merrill downgraded Deere to Underperform citing the collapse in corn and soybean pricing and the strengthening U.S. dollar. The firm expects the collapse in farm equipment demand to hit hard in 2015 and lowered estimates 10%-20% below consensus. Price target lowered to $82 from $90.
07:03 EDTAGCOAGCO cuts FY14 EPS view to $4.10-$4.30 from $5.00
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07:02 EDTAGCOAGCO cuts Q3 EPS view to 60c-65c including benefit from 75c-80c
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