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Stock Market & Financial Investment News

News Breaks
March 1, 2013
10:00 EDTAIG, WEN, OPTR, CVC, SAIA, ACIW, FDML, FULT, V, SLCA, SD, WFT, CEO, DRI, DUK, DB, HCN, OVTI, MCRS, RBS, VTR, HKOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AIG (AIG) downgraded to Equal Weight from Overweight at Evercore... CNOOC (CEO) downgraded to Reduce from Neutral at Nomura... Darden (DRI) downgraded to Neutral from Buy at UBS... Deutsche Bank (DB) downgraded to Sell from Neutral at Goldman... Duke Energy (DUK) downgraded to Hold from Buy at Deutsche Bank... Health Care REIT (HCN) downgraded to Underperform from Market Perform at BMO Capital... MICROS (MCRS) downgraded to Hold from Buy at Jefferies... OmniVision (OVTI) downgraded to Market Perform from Outperform at Raymond James... Royal Bank of Scotland (RBS) downgraded to Hold from Buy at Societe Generale... Ventas (VTR) downgraded to Underperform from Market Perform at BMO Capital... Weatherford (WFT) downgraded to Underperform from Market Perform at BMO Capital... Wendy's (WEN) downgraded to Underweight from Equal Weight at Morgan Stanley... SandRidge Energy (SD) downgraded to Sell from Hold at Tudor Pickering... Optimer (OPTR) downgraded to Market Perform from Outperform at JMP Securities... Cablevision (CVC) downgraded to Hold from Buy at Wunderlich... Saia, Inc. (SAIA) downgraded to Hold from Buy at Stifel Nicolaus... ACI Worldwide (ACIW) downgraded to Equal Weight from Overweight at Stephens... Federal-Mogul (FDML) downgraded to Sell from Neutral at Goldman... Fulton Financial (FULT) downgraded to Neutral from Buy at Sterne Agee... Wendy's (WEN) downgraded at Morgan Stanley... U.S. Silica (SLCA) downgraded due to valuation at Morgan Stanley... Visa (V) downgraded to Hold from Buy at Argus... Halcon Resources (HK) downgraded to Neutral from Accumulate at Global Hunter.
News For AIG;CEO;DRI;DUK;DB;HCN;OVTI;MCRS;RBS;VTR;WFT;SD;WEN;OPTR;CVC;SAIA;ACIW;FDML;FULT;V;SLCA;HK From The Last 14 Days
Check below for free stories on AIG;CEO;DRI;DUK;DB;HCN;OVTI;MCRS;RBS;VTR;WFT;SD;WEN;OPTR;CVC;SAIA;ACIW;FDML;FULT;V;SLCA;HK the last two weeks.
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August 8, 2014
10:15 EDTRBSRoyal Bank of Scotland winding down Global Restructuring Group, FT reports
Royal Bank of Scotland is set to wind down Global Restructuring Group, its restructuring unit which is under investigation over allegations it profited from "the financial distress of companies it was meant to help," the Financial Times reports, citing an internal memo. GRG head Derek Sach and Aubrey Adams, the head of property at the unit, will leave the bank in March 2015. Reference Link
06:18 EDTRBSRoyal Bank of Scotland's Hampton leads race to become new GSK chair, FT reports
Royal Bank of Scotland (RBS) Chairman Philip Hampton is the frontrunner to succeed Christopher Gent as chairman of GlaxoSmithKline (GSK), the Financial Times reports, citing sources. Gent will step down from his role at GSK next year. Hampton is not expected to step down from RBS until after May's general election, the sources say. Reference Link
August 7, 2014
13:11 EDTDBDeutsche Bank ordered to make improvements by regulators, WSJ reports
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10:00 EDTSDOn The Fly: Analyst Downgrade Summary
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09:37 EDTWENWendy's sees remodeling 60% of Canadian stores by 2020
Says expects investors to see a modest impact on total company margins post sale of Canadian restaurants. Says there has been increasing beef inflation since Q4 and says price increases are due to beef inflation.
09:36 EDTSDActive equity options trading on open
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09:24 EDTWENWendy's sees 2% commodity cost this year
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09:08 EDTWENWendy's reaffirms long-term target for adjusted EPS growth in mid-teens
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09:03 EDTDUKDuke Energy Florida to auction tools and equipment from retired nuclear plant
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08:32 EDTSDSandRidge Energy downgraded to Neutral from Accumulate at Global Hunter
Global Hunter downgraded SandRidge to Neutral citing the Q2 production miss and lowered guidance. Price target cut to $7 from $8.
07:09 EDTWENWendy's to sell all company-owned operated restaurants in Canada
The company plans to sell approximately 135 Company-operated restaurants in Canada to new and existing franchise operators. The company is targeting the end of the first quarter of 2015 for the completion of these transactions. The Company plans to retain its ownership of TimWen Partnership, its Canadian restaurant real estate joint venture with Tim Hortons (THI). Brolick said selling 100 percent of the Company's operations in Canada to franchisees will create a strong platform for future growth. The Company intends to prioritize the sale of its Canadian restaurants to well-capitalized new and existing franchisees with a demonstrated history of operational excellence and a stated commitment to implement the Company's Image Activation restaurant development and reimaging strategy. The Company expects the following benefits to offset the annualized decrease in revenue resulting from the sale of its Canadian restaurants: Reduced annualized general and administrative expense of approximately $8 million relative to the Company's 2014 estimated G&A expense of approximately $275 million. It also sees higher cash flow, due to the expected increase in rent and royalty revenue, as well as lower ongoing capital expenditures. The Company anticipates the sale of its Canadian restaurants to reduce Adjusted EBITDA by as much as $5 million in 2015, resulting in expected Adjusted EBITDA growth in the mid-to-high single-digit range in 2015. The Company expects the transactions to be neutral to Adjusted EBITDA in 2016 and accretive to Adjusted EBITDA in 2017 and thereafter. The Company expects the transactions to be neutral to net income in 2015 and slightly accretive to net income thereafter.
07:07 EDTWENWendy's board authorizes new share repurchase program for up to $100M
The Company also announced that its Board of Directors authorized a new share repurchase program for up to $100 million of the Company's common stock through the end of 2015. The common stock repurchase program will allow the Company to make repurchases as market conditions warrant and to the extent legally permissible.
07:07 EDTWENWendy's sees FY15 adjusted EPS growth in mid-teens, consensus 39c
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07:06 EDTWENWendy's sees Q3 same-restaurant sales growth less than low end of 2.5%-3.5%
The company said, "We anticipate a significant year-over-year increase in temporary restaurant closures related to our Image Activation program during the third quarter, when we expect reimaging activity to reach the 2014 peak," Brolick added. "Due to the impact of these restaurant closures, we expect year-over-year third-quarter Adjusted EBITDA to be approximately flat. However, we also expect to generate a significant year-over-year increase in Adjusted EBITDA in the fourth quarter of this year, when we anticipate realizing the benefit of this accelerated activity."
07:05 EDTWENWendy's 'remains confident' in company's long term outlook
The company specifically cites its Image Activation strategy driving top-line growth in the core business.
07:05 EDTWENWendy's backs FY14 adjusted EPS 34c-35c, consensus 35c
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07:03 EDTWENWendy's reports Q2 company-owned restaurants SSS up 3.9%
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07:03 EDTDUKDuke Energy raises FY14 adjusted EPS view to $4.50-$4.65 from $4.45-$4.60
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07:03 EDTWENWendy's reports Q2 adjusted EPS 9c, consensus 10c
Reports Q2 revenue $523.43M, consensus $518.11M
07:02 EDTDUKDuke Energy reports Q2 adjusted EPS $1.11, consensus 98c
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