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Stock Market & Financial Investment News

News Breaks
January 6, 2014
10:07 EDTIACI, ATHM, PNK, TLOG, TSL, DOC, HMHC, AIG, CALL, YPF, SALT, JKS, CLNE, PM, VLP, RMAXOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AIG (AIG) reinstated with an Outperform at Credit Suisse... Autohome (ATHM) initiated with a Neutral at Piper Jaffray... Clean Energy (CLNE) initiated with a Neutral at Citigroup... Houghton Mifflin (HMHC) initiated with an Outperform at Wells Fargo... IAC (IACI) initiated with an Equal Weight at Morgan Stanley... JinkoSolar (JKS) initiated with a Buy at Jefferies... Physicians Realty Trust (DOC) initiated with an Outperform at JMP Securities... RE/MAX Holdings (RMAX) initiated with a Market Perform at JMP Securities... Scorpio Bulkers (SALT) initiated with a Buy at Deutsche Bank... Trina Solar (TSL) initiated with a Buy at Jefferies... Valero Energy Partners (VLP) initiated with an Outperform at Credit Suisse... YPF SA (YPF) initiated with an Overweight at Morgan Stanley... TetraLogic (TLOG) initiated with a Buy at Guggenheim... Philip Morris (PM) initiated with a Sell at Standpoint Research... magicJack (CALL) initiated with a Buy at Canaccord... Pinnacle Entertainment (PNK) reinstated with a Sell at Goldman.
News For AIG;ATHM;CLNE;HMHC;IACI;JKS;DOC;RMAX;SALT;TSL;VLP;YPF;TLOG;PM;CALL;PNK From The Last 14 Days
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January 21, 2015
10:01 EDTHMHCOn The Fly: Analyst Downgrade Summary
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08:57 EDTHMHCHoughton Mifflin downgraded at Morgan Stanley
As previously reported, Morgan Stanley downgraded Houghton Mifflin to Equal Weight from Overweight. The firm expects reduced 2016 revenue growth as tailwinds from new Common Core teaching standards slow, a reduction in state budgets, and said digital adoption is years away. Price target lowered to $18.
06:27 EDTHMHCHoughton Mifflin downgraded to Equal Weight from Overweight at Morgan Stanley
05:12 EDTAIGAIG to acquire Laya Healthcare
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January 20, 2015
16:09 EDTCALLmagicJack announces beta testing on U.S. texting APP and America/Mexico APP
magicJack VocalTec announced that it is in beta testing on two APPs in the U.S. and Mexico, respectively. The magicJack U.S. texting APP is currently in beta testing on iOS by several thousand users and is expected to be made available to customers as soon as testing is completed. In Mexico, the "magicJack America" APP is also currently in beta testing on iOS and Android and is being used by several thousand users.
08:05 EDTAIGAerCap may consider stock buyback from AIG, Reuters says
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January 15, 2015
10:37 EDTPMKraft rises after Goldman gets less cautious on food space, ups stock to buy
Shares of Kraft Foods (KRFT) are climbing after Goldman Sachs upgraded the stock to Buy and placed the shares on its Conviction List. WHAT'S NEW: Costs for food makers are declining as commodity prices drop, Goldman Sachs analyst Judy Hong wrote in a note to investors today. Kraft is among the U.S. food companies that benefits the most from lower costs, the analyst stated. Additionally, Kraft's pricing power is one of the strongest in the group and it is heavily exposed to the U.S. economy, the analyst stated. WHAT'S NOTABLE: Hong's upgrade of Kraft was part of a note in which she took a more balanced view of the U.S. consumer staples sector. The analyst upgraded the Food sector to Neutral from Cautious, noting that consumer staples stocks with outsized exposure to the U.S. market should be boosted by strong U.S. growth and more favorable foreign exchange dynamics than their peers. In addition to Kraft, the analyst identified the following stocks as her top picks within the consumer staples sector: Monster Beverage (MNST), Constellation Brands (STZ), Coca-Cola Enterprises (CCE), Keurig Green Mountain (GMCR), Freshpet (FRPT), Mead Johnson (MJN), and Estee Lauder (EL). Goldman also upgraded Hershey (HSY), Dr. Pepper Snapple (DPS), and Clorox (CLX), all to Neutral from Sell, downgraded cigarette maker Philip Morris (PM) to Sell from Neutral and downgraded brewer Molson Coors (TAP) to Neutral from Buy. PRICE ACTION: In early trading, Kraft climbed 3.7% to $65 per share.
10:00 EDTPMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Campus (ACC) downgraded to Sell from Neutral at Goldman... Apple (AAPL) downgraded to Neutral from Buy at Mizuho... Archer Daniels (ADM) downgraded to Neutral from Buy at Goldman... Barrick Gold (ABX) downgraded to Underweight from Equal Weight at Barclays... CNOOC (CEO) downgraded to Underperform from Hold at Jefferies... CSC (CSC) downgraded to Underweight from Neutral at JPMorgan... Computer Programs (CPSI) downgraded to Market Perform from Outperform at William Blair... D.R. Horton (DHI) downgraded to Neutral from Buy at UBS... DDR Corp. (DDR) downgraded to Neutral from Overweight at JPMorgan... Dominion Diamond (DDC) downgraded to Equal Weight from Overweight at Barclays... EVERTEC (EVTC) downgraded to Neutral from Overweight at JPMorgan... Education Realty (EDR) downgraded to Sell from Neutral at Goldman... Franco-Nevada (FNV) downgraded to Underweight from Equal Weight at Barclays... General Cable (BGC) downgraded to Neutral from Buy at Longbow... Green Dot (GDOT) downgraded to Neutral from Overweight at JPMorgan... Greif (GEF) downgraded to Neutral from Buy at BofA/Merrill... Grupo Simec (SIM) downgraded to Neutral from Buy at Goldman... Hecla Mining (HL) downgraded to Hold from Buy at BB&T... Host Hotels (HST) downgraded to Hold from Buy at MLV & Co.... Ingredion (INGR) downgraded to Sell from Neutral at Goldman... Insulet (PODD) downgraded to Market Perform from Outperform at Raymond James... Johnson & Johnson (JNJ) downgraded to Sell from Neutral at Goldman... Magna (MGA) downgraded to Hold from Buy at TD Securities... Molson Coors (TAP) downgraded to Neutral from Buy at Goldman... Nuverra Environmental (NES) downgraded at Roth Capital... Omnicom (OMC) downgraded to Hold from Buy at Evercore ISI... PetroChina (PTR) downgraded to Underperform from Hold at Jefferies... Philip Morris (PM) downgraded to Sell from Neutral at Goldman... Precision Castparts (PCP) downgraded to Hold from Buy at KeyBanc... Rio Tinto (RIO) downgraded to Neutral from Outperform at Macquarie... STAG Industrial (STAG) downgraded to Neutral from Overweight at JPMorgan... Silicon Laboratories (SLAB) downgraded to Equal Weight from Overweight at Barclays... Sinopec (SNP) downgraded to Underperform from Hold at Jefferies... Sky (SKYAY) downgraded to Neutral from Outperform at Exane BNP Paribas... Teledyne (TDY) downgraded to Underweight from Hold at KeyBanc... Woodward (WWD) downgraded to Underweight from Hold at KeyBanc... Xilinx (XLNX) downgraded to Equal Weight from Overweight at Barclays.
08:35 EDTDOCUpdate: Physicians Realty Trust 16.5M share Secondary priced at $16.40
The deal size was increased to 16.5M shares from 15M shares. KeyBanc, Morgan Stanley, RBC Capital, BofA/Merrill and BMO Capital acted as joint book running managers for the offering.
06:56 EDTDOCPhysicians Realty Trust 15M share Secondary priced at $16.40
KeyBanc, Morgan Stanley, RBC Capital, BofA/Merrill and BMO Capital acted as joint book running managers for the offering.
06:35 EDTPMPhilip Morris downgraded to Sell from Neutral at Goldman
Goldman downgraded Philip Morris to Sell and lowered estimates based on exposure to slowing emerging markets, FX risk, and lack of near-term catalysts to drive shares higher. Price target lowered to $80 from $81.
January 14, 2015
07:03 EDTDOCPhysicians Realty Trust files to sell 15M common shares
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07:02 EDTDOCPhysicians Realty Trust announces new acquisitions, new LOI
Physicians Realty Trust announced the closing of $81.7M of investments in medical office facilities during November and December 2014. The company invested more than $552M in medical real estate during 2014. The closings included the previously announced Carle Danville Clinic and Middletown medical office building acquisitions as well as three newly announced transactions. The company also announced the execution of a non-binding letter of intent with The Davis Group and an equity investor working with The Davis Group to acquire a 96% or greater interest in a portfolio of 7 medical office facilities located in the Minneapolis-St. Paul Metropolitan area and one additional medical office facility located in Jamestown, North Dakota. The purchase price for the acquisition of the portfolio of properties is approximately $116.3M, payable in a combination of cash, common units or proposed new preferred units in the operating partnership of the company, such relative amounts to be elected and determined by the respective property sellers at or prior to closing of a definitive agreement, plus the assumption of approximately $5.8M of property-related indebtedness encumbering one of the facilities. The company’s investment will exceed $100M. The portfolio is 98% leased and the average age of 7 of the buildings is approximately 2 years, with one other building located on the campus of the Fairview Health System hospital campus in Edina, Minnesota, which was built in 1979. The company previously announced that it entered into three separate purchase agreements with an aggregate value of $89.5M. The company continues to work with the seller of each of these assets and expects the investments will be completed in the near future.
January 13, 2015
16:24 EDTAIGOn The Fly: Closing Wrap
The Wall Street averages spent time in both positive and negative territory during the session, before closing a bit below where they'd started the day. The market opened sharply higher after Alcoa’s (AA) better than expected report gave some optimism about the upcoming earnings season. The early move higher came despite oil continuing its slide. The major averages saw their highs shortly after the open and then began to drift slowly lower. By mid-afternoon the market was in the red, though the equity averages eventually made it briefly back into positive ground, but failed to hold those narrow gains into the close. ECONOMIC EVENTS: In the U.S., the NFIB small business optimism index for December came in at 100.4, which was stronger than the expected 98.5 reading. The JOLTS report showed job openings increased 142K to 4.972M in November, beating the 4.85M consensus forecast. Treasury posted a $1.9B surplus in December, which was a bit below the expected surplus of $3B. Also of note is the fact that the U.S. and European benchmarks of WTI and Brent crude were at parity for the first time since 2013 during the session, with both trading near $46 per barrel for a time. COMPANY NEWS: KB Home (KBH) reported better than expected revenue and higher orders in its fourth quarter, but the stock declined $2.70, or 16.29%, to $13.87 after CEO Jeffrey Mezger warned on the associated earnings call that margins could drop "significantly" in its current quarter from the levels seen last year. KB's margin outlook, which it blamed on rising costs, heavier use of incentives and a sequential decline in average selling prices, dragged down peers in the housing space as well. D.R. Horton (DHI), the biggest homebuilder by market cap, finished the day down $1.26, or 4.83%, to $24.82, while PulteGroup (PHM) also slid $56c, or 2.47%, to $22.13... MetLife (MET) said it will sue to oppose the U.S. Financial Stability Oversight Council’s designation of the insurer as a SIFI, or "systemically important financial institution." The life insurer called the label premature and said it has offered “substantial and compelling evidence” that it isn’t a SIFI. Wells Fargo said it thinks it is appropriate for MetLife to challenge the ruling, though the firm does not presently see a Dodd-Frank provision that enables an entity to shed its designation. Wells added that a MetLife victory would have no impact on either AIG (AIG) or Prudential (PRU), which did not challenge their SIFI designations before their windows closed. MAJOR MOVERS: Among the notable gainers was Emulex (ELX), which rose $1.21, or 20.86%, to $7.01 after the company issued better than expected guidance on its second quarter results. Also higher was McGraw Hill Financial (MHFI), which jumped $5.13, or 5.98%, to $90.89 after reports said the company's Standard & Poor’s rating unit was in talks about a potential $1B settlement to its fight with the Justice Department and state attorneys general over allegations of inflating credit ratings on mortgage investments preceding the financial crisis. Among the noteworthy losers was ChannelAdvisor (ECOM), which plunged $11.32, or 53.52%, to $9.83 after its fourth quarter revenue warning prompted no less than eight downgrades of the stock by Street analysts. Also lower were shares of Ocwen Financial (OCN), which dropped $4.41, or 36.18%, to $7.78 after the Los Angeles Times reported that California is seeking to suspend the company's mortgage license in the state. Altisource Portfolio Solutions (ASPS), which is a related company to Ocwen, also declined $10.45, or 38.79%, to $16.49. Shares of GoPro (GPRO) fell $6.91, or 12.17%, to $49.87 after the Patently Apple blog reported that Apple (AAPL) was granted a patent for a camera system that specifically mentions the weaknesses of GoPro devices. INDEXES: The Dow fell 27.16, or 0.15%, to 17,613.68, the Nasdaq lost 3.21, or 0.07%, to 4,661.50, and the S&P 500 dropped 5.23, or 0.26%, to 2,023.03.
10:46 EDTAIGMetLife has only upside in challenging SIFI designation, says Wells Fargo
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09:31 EDTATHMAutohome downgraded to Underperform from Neutral at Credit Suisse
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07:13 EDTAIGMetLife CEO could decide soon whether to file suit against U.S., WSJ reports
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January 12, 2015
12:46 EDTATHMOn The Fly: Midday Wrap
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09:56 EDTATHMAutohome, Bitauto sink after China car sales growth slows in 2014
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06:10 EDTTSLTrina Solar reports successful grid connection of 90 MW of solar plants in China
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