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Stock Market & Financial Investment News

News Breaks
July 15, 2014
10:00 EDTLXK, EPB, AGRO, RJET, KOG, BAP, TWX, MXIM, K, CPB, SSLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Adecogro (AGRO) downgraded to Underperform from Neutral at BofA/Merrill... Campbell Soup (CPB) downgraded to Sell from Neutral at Goldman... Credicorp (BAP) downgraded to Neutral from Overweight at JPMorgan... El Paso Pipeline (EPB) downgraded to Neutral from Buy at Citigroup... Kellogg (K) downgraded to Sell from Neutral at Goldman... Kodiak Oil & Gas (KOG) downgraded to Market Perform from Outperform at BMO Capital... Lexmark (LXK) downgraded at Bernstein... Maxim Integrated (MXIM) downgraded to Equal Weight from Overweight at Barclays... Republic Airways (RJET) downgraded to Underperform from Neutral at BofA/Merrill... Sasol (SSL) downgraded to Neutral from Buy at Citigroup... Time Warner (TWX) downgraded to Equal Weight from Overweight at Evercore.
News For AGRO;CPB;BAP;EPB;K;KOG;LXK;MXIM;RJET;SSL;TWX From The Last 14 Days
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July 24, 2015
11:00 EDTKKellogg increases quarterly dividend 2%
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10:00 EDTMXIMOn The Fly: Analyst Upgrade Summary
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07:59 EDTMXIMMaxim Integrated upgraded to Buy from Underperform at BofA/Merrill
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07:05 EDTMXIMMaxim Integrated upgraded to Buy from Hold at Evercore ISI
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July 23, 2015
19:06 EDTMXIMOn The Fly: After Hours Movers
UP AFTER EARNINGS: Amazon (AMZN), up 17.2%... Marketo (MKTO), up 15.4%... Juniper Networks (JNPR), up 9.9%... NetGear (NTGR), up 9.2%... Qlik Technologies (QLIK), up 9.1%... LogMeIn (LOGM), up 9.9%... Pandora (P), up 10.3%... Mitek Systems (MITK), up 7.8%... Proofpoint (PFPT), up 5.1%... Supreme Industries (STS), up 4.7%... Skyworks (SWKS), up 3.6%... IGI Laboratories (IG), up 3.7%... Maxim Integrated Products (MXIM), up 4.1%... Boyd Gaming (BYD), up 4.1%... Trinity Industries (TRN), up 5%... Trinity Industries (N), up 3.2%... Starbucks (SBUX), up 4.5%. ALSO HIGHER: Qorvo (QRVO), up 2.7% after Skyworks reported quarterly results. DOWN AFTER EARNINGS: TrueCar (TRUE), down 33.1% after reporting quarterly results and cutting fiscal 2015 revenue guidance... Tripadvisor (TRIP), down 9.2%... Align Technology (ALGN), down 7.4%... Capital One (COF), down 4.9%... PMC-Sierra (PMCS), down 9.1%... athenahealth (ATHN), down 2.1%. ALSO LOWER: Sunesis Pharmaceuticals (SNSS), down 59.7% after giving vosaroxin regulatory update... Avalanche Biotechnologies (AAVL), down 5.6% after CEO Thomas Chalberg, Jr., Ph.D. resigns and Hans Hull name interim CEO.
16:18 EDTMXIMMaxim Integrated up 1.7% after reporting Q4 results, raising quarterly dividend
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16:18 EDTMXIMMaxim Integrated raises quarterly dividend by 7% to 30c per share
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16:17 EDTMXIMMaxim Integrated sees Q1 EPS ex-items 38c-44c, consensus 42c
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16:14 EDTMXIMMaxim Integrated reports Q4 EPS ex-items 43c, consensus 39c
Reports Q4 revenue $582.52M, consensus $590.26M.
15:04 EDTMXIMNotable companies reporting after market close
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06:46 EDTTWXLeBron James forms production partnership with Warner Bros., WSJ says
NBA superstar LeBron James is forming a production partnership with Time Warner's Warner Bros. Entertainment that spans movies, television, and digital content, the Wall Street Journal reports. Warner Bros. will have a partnership with SpringHill Entertainment, the production company founded by James and business partner Maverick Carter in 2013, the report says. Under the terms of the agreement, Warner Bros. and SpringHill will co-produce and co-own all projects they do together, the report says. Reference Link
05:59 EDTTWXEU sends Statement of Objections to Sky, U.S. film studios
The European Commission has sent a Statement of Objections to Sky UK (SKYAY) and six major U.S. film studios: Disney (DIS), NBCUniversal (CMCSA), Paramount Pictures (VIA), Sony (SNE), Twentieth Century Fox (FOXA) and Warner Bros (TWX). The Commission takes the preliminary view that each of the six studios and Sky UK have bilaterally agreed to put in place contractual restrictions that prevent Sky UK from allowing EU consumers located elsewhere to access, via satellite or online, pay-TV services available in the UK and Ireland. Without these restrictions, Sky UK would be free to decide on commercial grounds whether to sell its pay-TV services to such consumers requesting access to its services, taking into account the regulatory framework including, as regards online pay-TV services, the relevant national copyright laws. If the Commission's preliminary position were to be confirmed, each of the companies would have breached EU competition rules prohibiting anti-competitive agreements. The sending of a Statement of Objections does not prejudge the outcome of the investigation. These antitrust investigations focus on contractual restrictions on passive sales outside the licensed territory in agreements between studios and broadcasters.
July 22, 2015
14:51 EDTMXIMEarnings Watch: Qualcomm reports after speculations of potential breakup
Qualcomm (QCOM) is expected to report third quarter earnings after the close on July 22, with a conference call scheduled for 4:45 pm ET. Qualcomm is a maker of semiconductors and telecommunications equipment. EXPECTATIONS: Analysts are looking for earnings per share of 95c on revenue of $5.85B. EPS consensus ranges 90c-$1.05 on a revenue range of $5.59B-$6.08B, according to First Call. LAST QUARTER: On April 22, Qualcomm reported Q2 EPS of $1.40 against expectations for $1.33, and revenue of $6.89B versus estimates of $6.83B. The company also cut its FY15 EPS guidance to $4.60-$5.00 from $4.85-$5.05 and lowered projected revenue to $25B-$27B from $26.3B-$28B, saying it expects pressure in its semiconductor business due to customer shifts in the premium segment and a decline in Qualcomm's share at an unnamed large customer. NEWS: On May 8, Reuters reported that EU antitrust regulators asked Qualcomm's competitors how the company's licensing and business practices affect them, and on July 16, the European Commission confirmed two formal antitrust investigations of the company. On May 25, Qualcomm and Daimler (DDAIF) announced a strategic collaboration to develop connected car technology. Coming on the heels of Avago's (AVGO) May 28 agreement to acquire Broadcom (BRCM), Bloomberg quoted a source later that day as saying Qualcomm, Intel (INTC), Altera (ALTR), Analog Devices (ADI), Maxim Integrated (MXIM), Texas Instruments (TXN), and Microchip Technology (MCHP) are all considering their own M&A opportunities. Note that on June 1, Intel announced an agreement to acquire Altera. On June 23, Semiconductor Manufacturing International (SMI), Qualcomm, Huawei, and Imec announced the formation of a joint venture to focus on a type of 14 nanometer technology. More recently, the Wall Street Journal reported on July 20 that Qualcomm is "expected" to begin a comprehensive strategic review which may include the possibility of a breakup following pressure from "activist" shareholder Jana Partners, according to sources, adding that the move could be announced concurrent with Wednesday's earnings release. STREET RESEARCH: Following last quarter's earnings report, Exane BNP Paribas downgraded Qualcomm to Neutral from Outperform, while both Canaccord and Brean Capital lowered price targets for the stock after "disappointing" guidance. Meanwhile, Citi said it expects the company's chip business to recover in 2016 despite this "very bad year." On May 28, CLSA said it sees continued pressure on Qualcomm chipsets, potentially spurring the company to consider making an acquisition, and on June 2, Craig-Hallum noted that Skyworks (SWKS) would be a great fit for Qualcomm. On June 24, Summit Research called Applied Micro Circuits (AMCC) an "affordable" target for Qualcomm, with AMD (AMD) and Cavium (CAVM) also looking like potential takeover candidates. On June 29, Drexel Hamilton downgraded Qualcomm to Sell from Hold, citing expected price cuts. Lastly, following media reports on July 20 that Qualcomm could be weighing a breakup, Bernstein said that such a "dis-synergistic" split would likely destroy value rather than create it. PRICE ACTION: Shares of Qualcomm are down more than 1% to $64.37 in afternoon trading ahead of Wednesday's earnings report.
12:35 EDTMXIMAnalog chip makers fall after Linear cites weak end market demand
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12:27 EDTTWXTime Warner's HBO lands sports commentator Bill Simmons
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12:21 EDTTWXTime Warner's HBO announces multiyear deal with Bill Simmons
Bill Simmons left Disney's (DIS) ESPN earlier this year.
09:07 EDTCPBOn The Fly: Pre-market Movers
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07:38 EDTCPBCampbell Soup revises long-term growth targets
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07:32 EDTCPBCampbell Soup raises FY15 adjusted EPS view to $2.43-$2.46 from $2.32-$2.38
Consensus is $2.38. Consistent with previous sales guidance, the company expects sales to decline by 1 percent, reflecting the negative impact of currency translation. Reflecting favorable gross margin performance and earlier-than-expected benefits from the previously announced cost reduction initiatives, Campbell now expects adjusted EBIT to decline -2 to -1 percent, compared to the previous guidance of being at the favorable end of the -7 to -5 percent range. The company expects adjusted EPS to be in the range of -1 to 0 percent, or $2.43 to $2.46 per share, compared to the previous guidance of being at the favorable end of the -5 to -3 percent range or $2.32 to $2.38 per share.
07:31 EDTCPBCampbell Soup now sees $75M in savings from cost reduction initiatives in FY15
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