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Stock Market & Financial Investment News

News Breaks
April 18, 2012
10:30 EDTAIG, CHRW, DECK, FSLR, MCEP, SEMG, WLT, PII, XOMOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AIG (AIG) upgraded to Outperform from Market Perform at William Blair... C.H. Robinson (CHRW) upgraded to Buy from Hold at Deutsche Bank... Deckers Outdoor (DECK) upgraded to Neutral from Underperform at Sterne Agee... First Solar (FSLR) upgraded to Hold from Sell at Cantor... First Solar upgraded to Buy from Underperform at BofA/Merrill... Mid-Con Energy (MCEP) upgraded to Outperform from Neutral at RW Baird... SemGroup (SEMG) upgraded to Buy from Hold at Deutsche Bank... Walter Energy (WLT) upgraded to Overweight from Equal Weight at Morgan Stanley... Polaris Industries (PII) upgraded to Outperform from Market Perform at Wells Fargo... Exxon Mobil (XOM) upgraded to Buy from Hold at Deutsche Bank.
News For AIG;CHRW;DECK;FSLR;MCEP;SEMG;WLT;PII;XOM From The Last 14 Days
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July 25, 2014
05:41 EDTXOMExxon Mobil downgraded to Underweight from Equal Weight at Barclays
Barclays downgraded its rating on Exxon Mobil (XOM) shares to Underweight from Neutral citing a lack of near-term production growth and the high oil price environment. The firm sees limited upside in shares, but did raise its price target to $105 from $100. Shares of the oil giant closed yesterday up 3c to $104.28.
July 24, 2014
19:45 EDTMCEPMid-Con Energy acquires Oilton Field for $56.5M in stock and cash
Mid-Con Energy Partners, through its wholly owned subsidiary, Mid-Con Energy Properties, announced that it has entered into a definitive agreement to acquire net proved reserves estimated at 2.6M barrels of oil equivalent for an aggregate purchase price of approximately $56.5M, subject to customary post-closing adjustments. The acquisition, expected to close and become effective on August 5, will be funded with approximately 2.2M units of MCEP stock and $4.5M in cash. The acquired position, the Oilton Field, is a mature asset producing from a large anticline structure underlying acreage in Creek County, OK. Mid-Con Energy will acquire operatorship in Oilton along with an approximate 97% net working interest.
18:17 EDTDECKDeckers Outdoor raises FY15 EPS view to up 14.5% from up 13.5%
Raises FY15 revenue guidance to up approximately 14% from up 13%. The company expects FY15 SG&A expenses as a percentage of sales to be approximately 36%. Among other items, these expenses include increased marketing and supply chain costs, investments in IT infrastructure, expenses related to management reorganization, and operating costs associated with opening new stores in 2013 and 2014. The company now expects FY15 UGG brand revenues to increase approximately 12% over the twelve month period ended March 31 from the previous guidance of 11%. The company expects FY15 Teva brand revenues to increase approximately 11% over the twelve month period ended March 31. The company expects FY15 Sanuk brand revenues to increase approximately 15% over the twelve month period ended March 31. Combined FY15 net sales of the company's other brands are expected to be approximately $82M compared to $48.6M for the twelve month period ended March 31.
18:12 EDTDECKDeckers Outdoor reports Q1 EPS ($1.07), consensus ($1.28)
In a regulatory filing, the company reports Q1 revenue $211.5M, consensus $192.01M. Reports Q1 direct-to-consumer comparable sales up 10%. Reports Q1 UGG brand net sales up 22.8% to $123.3M vs. $100.4M last year. Reports Q1 Teva brand net sales up 25.7% to $39.3M vs. $31.2M last year. Reports Q1 Sanuk brand net sales up 19.6% to $36M vs. $30.1M last year. Reports combined net sales of the company's other brands increased 54.5% to $12.9M for Q1 compared to $8.4M last year. Sales for the global retail store business, which are included in the brand sales numbers above, increased 29.4% to $42M compared to $32.5M for the same period last year. This increase was driven by 37 new stores opened after June 30, 2013, partially offset by a same SSS decrease of 2.8% for the thirteen weeks ended June 29, 2014 compared to the thirteen weeks ended June 30, 2013.
15:31 EDTDECKDeckers Outdoor technical comments ahead of results
The shares have moderately outperformed the broader averages in the last three months an are trading relatively close to the 52-week high at $90.09. On a positive surprise on earnings or guidance, that level could be easily tested. Resistance above the 52-week high is at $91.83, and $96.11. If the news disappoints, the uptrend in place off the lows of October 2012 could be violated. A breakdown below the 200-week moving average at $78.37 would snap the trend. Support below that moving average is at $74.35. It should be noted that the short-base in this name is very large. Over 18% of the float is short according to the last available report. On a positive surprise the shares could be fueled higher by a strong short-squeeze.
July 23, 2014
08:00 EDTPIIPolaris Industries price target raised to $165 from $150 at RW Baird
Baird raised its price target on Polaris Industries to $165 from $150 following impressive quarterly results. The firm cited robust retail results, new products, and dealer momentum and keeps an Outperform rating on Polaris.
July 22, 2014
10:46 EDTPIIHigh option volume stocks: SBAC KS EDU PII GALT EJ AXL TSEM HLF BCOR
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07:36 EDTFSLRFirst Solar shares dramatically undervalued, says Brean Capital
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06:43 EDTAIGMalaysia Airlines incidents rattle insurance market, NY Times says
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06:04 EDTPIIPolaris Industries reports Q2 Off-Road Vehicles sales up 13% to 701.5M
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06:03 EDTPIIPolaris Industries raises FY14 EPS to $6.48-$6.58 from $6.17-$6.37
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06:01 EDTPIIPolaris Industries reports Q2 EPS $1.42, consensus $1.39
Reports Q2 revenue $1.01B, consensus $1.0B
July 21, 2014
15:30 EDTPIINotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Verizon (VZ), consensus 90c; Coca-Cola (KO), consensus 63c; Comcast (CMCSA), consensus 72c; United Technologies (UTX), consensus $1.70; McDonald's (MCD), consensus $1.44; Altria Group (MO), consensus 66c; du Pont (DD), consensus $1.17; Lockheed Martin (LMT), consensus $2.66; Kimberly-Clark (KMB), consensus $1.50; Travelers (TRV), consensus $2.07; Ingersoll-Rand (IR), consensus $1.11; State Street (STT), consensus $1.26; TD Ameritrade (AMTD), consensus 34c; Harley-Davidson (HOG), consensus $1.46; Polaris Industries (PII), consensus $1.39; Crocs (CROX), consensus 31c.
13:36 EDTXOMExxon Mobil files export application for Alaska LNG project
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13:23 EDTPIIHigh option volume stocks: RFMD LCI MR PII DG CTRL
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07:29 EDTAIGAIG settlement with BofA takes crisis claw back total up to $2B, FT says
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July 18, 2014
12:48 EDTFSLRSolar stocks rise after successful IPO in space
Shares of solar energy companies are rising after a solar energy company's subsidiary surged on its first day of trading. WHAT'S NEW: The shares of SunEdison (SUNE) subsidiary TerraForm (TERP) are surging 36% in early afternoon trading. TerraForm Power opened at $33.26 and was trading near $34 per share at midday, after its initial public offering priced at $25 per share. TerraForm was formed to own and operate assets that generate clean power and the company plans to pay dividends. In a note to investors yesterday, Josh Baribeau, an analyst at Canaccord Genuity, wrote that TerraForm is a Yieldco. Subsidiaries of energy companies that own power plants and projects, Yieldcos typically trade on stock exchanges. Noting that TerraForm's IPO had priced at the high end of its expected range yesterday and was well oversubscribed, Baribeau wrote that this outcome reflects the strong demand for Yieldcos among investors. The Yieldcos provide investors with yield which is in high demand in today's low interest rate environment, the analyst stated. Additionally, as a result of the strong demand for Yieldcos' stocks, they provide their parent companies with "cheap and abundant capital," the analyst stated. SunEdison and TerraForm will grow their combined cash available for distributions at a faster rate than their target of 15% over the next three years, helping SunEdison's stock rise, the analyst stated. He kept a $30 price target and Buy rating on SunEdison. WHAT'S NOTABLE: A number of solar energy companies that own solar projects could form Yieldcos, research firm Trefis wrote in a Forbes column last month. Like Canaccord's Baribeau, Trefis believes that Yieldcos provide their parent companies with a cheap source of funding. Yieldcos also distribute most of their cash through dividends, Trefis stated. The firm named First Solar (FSLR) and SunPower (SPWR) as companies that could launch their own Yieldcos. PRICE ACTION: In early afternoon trading, Terraform jumped 36% to $34 and SunEdison was down 1% to $22.76. Meanwhile, First Solar rose 1.4% to $62.29, SunPower climbed 2.7% to $38.71, JinkoSolar gained 2.8% to $26.75, and Canadian Solar (CSIQ) advanced 3% to $28.71.
July 17, 2014
10:00 EDTAIGOn The Fly: Analyst Initiation Summary
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07:31 EDTXOMWEX signs definitive purchase agreement regarding Exxon's Esso Card program
WEX Inc. (WEX) announced the execution of the definitive purchase and sale agreement relating to the previously announced proposed acquisition of ExxonMobil’s (XOM) European commercial fuel card, or Esso Card, program through a majority owned joint venture, WEX Europe Services Limited. In addition, all necessary regulatory approvals have been received and the employee information and consultation processes have been cleared. The transaction is on track and is expected to close in late 2014 or early 2015. “The purchase of the Esso Card portfolio remains an important element to building our on-the-ground presence in the European market, and enhances WEX’s long-term growth profile. Our efforts to advance this transaction remain on track and position us to create a substantial and profitable European footprint,” said Melissa Smith, WEX’s president and CEO.
06:49 EDTAIGAIG initiated with an Outperform at RBC Capital
Target $64.
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