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Stock Market & Financial Investment News

News Breaks
July 15, 2014
10:00 EDTTWX, MXIM, K, CPB, SSL, LXK, EPB, AGRO, RJET, KOG, BAPOn 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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May 28, 2015
11:58 EDTMXIMSemtech hits 52-week low after Q1 results, Q2 outlook miss expectations
Shares of Semtech Corporation (SMTC), a supplier of analog and mixed-signal semiconductor products, are falling after the company’s first quarter results and second quarter outlook trailed analysts' consensus estimates. WHAT'S NEW: Semtech yesterday reported Q1 earnings per share of 27c excluding items and revenue of $130.1M, trailing analysts' consensus estimates of 28c and $132.51M, respectively. Semtech reported Q1 adjusted gross margin of 60.8%. The company also said it increased its stock buyback authorization to $100M. It had $30M remaining under a previous buyback plan. Looking ahead to Q2, Semtech forecast adjusted EPS of 21c-26c and revenue of $120M-$130M, well below analysts' consensus estimates of 37c and $1.41.65M, respectively. The company also forecast Q2 adjusted gross profit margin of 60%-60.4%. WHAT'S NOTABLE: Mohan Maheswaran, the company's Chief Executive Officer, noted that Semtech saw strong demand in Q1 from its enterprise computing and communication end-markets driven by the datacenter and PON market segments. However, Maheswaran said that demand from its largest smartphone customer was "much lower than anticipated," which led to results that were at the lower end of its guidance range. Semtech previously projected Q1 EPS of 27c-30c and revenue of $130M-$136M. Maheswaran said demand for the company's LoRa wireless platforms is seeing an acceleration. ANALYST REACTION: This morning, research firm B. Riley downgraded Semtech to Sell from Neutral after the company's Q1 results missed expectations. The firm cut its price target for shares to $21 from $26. OTHERS TO WATCH: Other companies in the in the analog and mixed-signal semiconductor space include Texas Instruments (TXN), Maxim Integrated Products (MXIM) and Analog Devices (ADI). PRICE ACTION: In late morning trading, Semtech fell $3.41, or nearly 14%, to $21.21 on nearly five times its average daily trading volume. The stock continues to hit fresh 52-week lows during the session. Including today's pull back, the shares have lost approximately 18% over the past 12 months.
09:20 EDTTWXTime Warner announces proposed debt offering
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09:05 EDTMXIMMaxim Integrated volatility flat, shares near seven-year high
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May 27, 2015
14:10 EDTMXIMMaxim briefly trades lower after DJ report of Avago interest in Broadcom
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09:40 EDTTWXHBO may consider discounted prepaid plans, Cut Cable Today reports
Time Warner's HBO may consider discounted prepaid plans in the future, reports Cut Cable Today. Citing a HBO customer satisfaction survey, HBO asked, “If these offers were available to you for one-time only, how likely would you be to take advantage of each in the next three months?” Participants were then presented with four different potential discounts. Reference Link
May 25, 2015
12:50 EDTTWXDisney's 'Tomorrowland' leads U.S. weekend box office with $32.2M
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May 22, 2015
09:25 EDTCPBOn The Fly: Pre-market Movers
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07:20 EDTCPBCampbell Soup CEO says gross margin focus began to pay dividends in Q3
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07:19 EDTCPBCampbell nows sees FY15 adjusted EPS closer to favorable end of $2.32-$2.38
Campbell now expects a year-over-year change in sales closer to the lower end of the previously announced range of -1 to +1%; a change in adjusted EBIT closer to the favorable end of the previously announced range of -7 to -5%; and a change in adjusted EPS closer to the favorable end of the previously announced range of -5 to -3 percent or $2.32-$2.38 per share, consensus $2.35. Guidance includes an estimated 2-point negative impact from currency translation, the company noted.
07:16 EDTCPBCampbell Soup reports Q3 adjusted EPS 62c, consensus 52c
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May 21, 2015
15:01 EDTCPBNotable companies reporting before tomorrow's open
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08:27 EDTCPBCampbell Soup June volatility elevated into Q3 and outlook
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May 19, 2015
12:47 EDTCPB, KEarnings Watch: Target sees FY15 adjusted EPS $4.45-$4.65, 2%-3% sales growth
Target (TGT) is scheduled to report first quarter results before the market open on Wednesday, May 20, with a conference call scheduled for 10:30 am ET. Target offers merchandise at discounted prices through its retail stores and online business. EXPECTATIONS: Analysts are looking for earnings per share of $1.03 on revenue of $17.09B, according to First Call. The consensus range for EPS is 85c-$1.09 on revenue of $16.98B-$17.25B. LAST QUARTER: Target reported fourth quarter adjusted EPS of $1.50 on revenue of $21.75B, beating analysts' estimates for $1.46 and $21.63B, respectively. The company said comparable sales increased 3.8% in Q4, reflecting a 3.2% increase in comparable transactions. Target said digital channel sales contributed 0.9 percentage points to SSS growth. Target forecast Q1 adjusted EPS 95c-$1.05, SSS up about 2% and said its top priority is to drive digital sales growth. The company said it could be in a position to revisit stock buybacks later this year and noted that its workers' wages are "competitive." NEWS: At its Financial Community Meeting on March 3, Target forecast fiscal year 2015 adjusted EPS $4.45-$4.65, against estimates at that time for $4.50, on sales growth of 2%-3% for the fiscal year. The company also forecast 10% annual EPS growth for 2016 and beyond, as well as 5%-10% annual dividend growth. Target forecast $2B in savings in expenses and cost of goods over the next two years and 9.5%-10% EBITDA margins over the next five years. As for share repurchases, Target sees $2B this year, and said it continues to support the dividend and repurchase "billions." Looking to FY15, Target forecast FY15 capital expenditures of $2.1B and sees expected CapEx of $2B-$2.5B over the next five years. Target said its gross margin rate of 29.5% is "achievable." Target said it would focus on categories including style, baby, kids and wellness. As part of its $2B cost savings plan, Target said it will cut "several thousand jobs." Target said in a filing that on March 10, the company notified approximately 1,700 employees whose employment will be terminated as part of an overall plan to transform Target’s business. The company said it expects to incur severance costs of $10M. During the quarter, Target said it planned to raise its minimum pay for all workers to at least $9 an hour starting in April, according to The Wall Street Journal, and agreed to pay $10M to settle a class action lawsuit related to its 2013 data breach, Reuters reported. Target reached a settlement with MasterCard (MA) to resolve claims by MasterCard and its issuers related to the retailer’s 2013 data breach. Under the agreement, Target will make available up to $19M in alternative recovery offers to eligible banks and credit unions across the globe. Target Canada said it would close the last 133 retail stores by April 12. Target also announced plans to sell its Target Commercial Interiors subsidiary to Omni Workspace. The retailer launched the Lilly Pulitzer for Target collection in April, which rendered its website inaccessible for short time after it was overwhelmed by customer traffic, The WSJ said. The WSJ also reported that, according to sources, Target gave notice to Campbell Soup (CPB), General Mills (GIS), Kellogg (K), Kraft Foods (KRFT) and others that it will reduce their presence in Target circulars and in-store advertisements. STREET RESEARCH: Following Target's analyst meeting, Wells Fargo said it thinks the company's operating plan sets the stage for the company to potentially beat expectations in 2015 and beyond. The firm believes that"outsized digital growth" or new products could enable Target's results to beat expectations. Piper Jaffray views Target's long term earnings algorithm, which is based on a 1% store comp and 40% growth in digital sales annually, as realistic and the company's capital deployment as encouraging. BofA/Merrill upgraded Target to Buy from Neutral in April and increased its price target to $92 from $86. The firm believes Target is well positioned to benefit from an improving middle-income core customer base. The firm said customers are responding well to improved assortment and merchandising and expects Target to continue to see increased spending at stores and online as customers trade-up to more expensive items. PRICE ACTION: Target shares are up over 1.6% over the past three months. In early afternoon trading ahead of Wednesday's earnings report, shares are down 0.51% to $77.96.
May 18, 2015
11:10 EDTMXIMMaxim Integrated says order trends in industrial continue to improve
The company says industrial pick-up more U.S. and Europe based than Asian based.
11:04 EDTMXIMMaxim Integrated says will continue to see consolidation in the industry
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11:00 EDTMXIMMaxim Integrated says goal for automotive gross margins is low 60s
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May 17, 2015
19:11 EDTK, CPBTarget to reduce advertising space for certain large brands, WSJ says
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15:37 EDTTWXUniversal's 'Pitch Perfect 2' leads U.S. weekend box office with $70.3M
For the weekend of May 17, Comcast (CMCSA, CMCSK) subsidiary Universal's "Pitch Perfect 2" topped domestic box office charts at $70.3M. Time Warner (TWX) subsidiary Warner Bros.' "Mad Max: Fury Road" landed in second place with $44.4M, while Disney's (DIS) "Avengers: Age Of Ultron" came in third with $38.8M. Warner Bros.' "Hot Pursuit" and Universal's "Furious 7" took fourth and fifth place at $5.8M and $3.6M, respectively. Data gathered by Rentrak.
May 15, 2015
12:04 EDTMXIMThird Point reports new stakes in Maxim Integrated, NXP Semiconductors
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10:34 EDTMXIMOptions with increasing implied volatility
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