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March 30, 2012
10:14 EDTAH, XRTX, USB, SEM, RTN, KND, INVN, IPR, FTE, RIMMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Accretive Health (AH) downgraded to Neutral from Outperform at RW Baird...France Telecom (FTE) downgraded to Sell from Neutral at Citigroup...International Power (IPR) downgraded to Neutral from Buy at Citigroup...InvenSense (INVN) downgraded to Perform from Outperform at Oppenheimer...Kindred Healthcare (KND) downgraded to Market Perform from Outperform at Wells Fargo...Raytheon (RTN) downgraded to Sector Perform from Outperform at RBC Capital...Select Medical (SEM) downgraded to Market Perform from Outperform at Wells Fargo...U.S. Bancorp (USB) downgraded to Market Perform from Outperform at BMO Capital...Xyratex (XRTX) downgraded to Hold from Buy at Needham...Research in Motion (RIMM) downgraded to Underperform at FBR Capital.
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April 24, 2014
07:02 EDTRTNRaytheon reports Q1 EPS cont ops $1.87, consensus $1.77
Reports Q1 adjusted EPS $1.43; Reports Q1 revenue $5.5B, consensus $5.5B
April 23, 2014
15:35 EDTRTNNotable companies reporting before tomorrow's open
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07:36 EDTRTNRaytheon to supply missiles for U.S. government foreign military sale
An international customer signed an agreement with the U.S. Government for a foreign military sale of tube-launched, optically tracked, wireless-guided missiles to be supplied by Raytheon in a deal valued at approximately $750M. Raytheon plans to deliver nearly 14K TOW missiles to the customer over a three-year period beginning in 2015. A resulting order is expected to be executed by the U.S. government with Raytheon in the coming weeks.
April 22, 2014
07:26 EDTUSBInformation Management Network to hold a conference
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07:24 EDTUSBSourceMedia to hold a forum
26th Annual Card Forum & Expo is being held in Orlando on April 22-25.
06:19 EDTUSBInvestment banks battling over stock trading, WSJ reports
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April 19, 2014
20:20 EDTRTNRaytheon could have 20%-30% upside, Barron's says
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April 17, 2014
06:31 EDTUSBBig banks boosting their business lending, WSJ reports
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April 16, 2014
09:33 EDTUSBU.S. Bancorp sees Q2 NIM declining
Says sees mortgage revenue rising slightly in Q2 due to seasonality.
09:32 EDTUSBU.S. Bancorp CEO says sees 2H14 better than 1H
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09:12 EDTUSBU.S. Bancorp says non-performing assets to remain stable in Q2
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07:21 EDTUSBU.S. Bancorp: Credit quality to remain 'relatively stable' in coming quarters
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07:20 EDTUSBU.S. Bancorp says expects to recommend Q2 dividend of 24.5c per share, up 6.5%
Says 24.5c per share dividend would be a 6.5% increase. Reports Q1 provision for credit losses $306M, net charge-offs $341M. Reports Q1 allowance for credit losses $4.5B. Reports Q1 net interest income $2.71B. Ratios at March 31, were: Basel III transitional: Common equity tier 1 capital ratio of 9.7%, Tier 1 capital ratio of 11.4%, Total risk based capital ratio of 13.5%; Common equity tier 1 capital to risk-weighted assets estimated for the Basel III fully implemented standardized approach of 9%.
07:17 EDTUSBU.S. Bancorp reports Q1 EPS 73c, consensus 73c
Reports Q1 revenue $4.81B, consensus $4.8B. U.S. Bancorp Chairman, President and CEO Richard K. Davis said, “Our first quarter earnings of $1.4 billion, or $.73 per diluted common share, demonstrated our Company’s ability to generate strong results in the face of a slow-growing and uncertain economy. Our industry-leading returns on average assets of 1.56 percent and average common equity of 14.6 percent, combined with our strong efficiency ratio of 52.9 percent, remain among the top performance ratios in our peer group. Our performance clearly reflects the advantage of our diversified business mix and disciplined expense management which has enabled us to withstand the revenue challenges facing our industry in this slow-growth economy. Average loan growth remained strong at 6.0 percent year-over-year and 1.3 percent on a linked quarter basis. Total loan and commitment growth continued to be an area of strength for the Bank, particularly highlighted by our commercial business, which grew loans by 8.5 percent year-over-year and 2.8 percent on a linked quarter basis. This growth demonstrates our ability to gain market share as customers choose to partner with us to expand their businesses when opportunities arise. Credit quality continued to be strong in the first quarter as net charge-offs declined 21.2 percent compared with the prior year and rose modestly on a linked quarter basis due to unusually high recoveries in the prior quarter. Nonperforming assets, excluding covered assets, fell by 1.0 percent and delinquencies also improved in the quarter. Overall credit quality is expected to remain relatively stable in the coming quarters."
April 15, 2014
15:19 EDTUSBNotable companies reporting before tomorrow's open
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April 14, 2014
08:32 EDTUSBU.S. Bancorp to acquire document custodian business from Ally Bank
U.S. Bancorp (USB) announced that its lead bank, U.S. Bank National Association, has entered into a definitive agreement to purchase the document custodian business of Ally Bank (ALLY). The acquisition of Ally’s document custodian business, which is expected to close early in the second quarter of 2014, will add up to 40 employees to U.S. Bank, one new service location in Waterloo, Iowa and increase documents under custody by 15%.
April 11, 2014
08:00 EDTRTNRaytheon awarded international contract for Paveway IV for $200M
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07:26 EDTINVNSynaptics InvenSense Q2 results could beat expectations, says Oppenheimer
Oppenheimer believes that the consensus outlook may underestimate the impact of Samsung's (SSNLF) flagship phones on Synaptics (SYNA) and InvenSense (INVN). However, the firm keeps Perform ratings on both stocks.
April 10, 2014
07:21 EDTSEMSelect Medical management to meet with UBS
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06:35 EDTUSBMobile banking presents opportunity and risks for banks, WSJ reports
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