New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 11, 2014
Altra Holdings (AIMC) upgraded to Buy from Hold at KeyBanc... Apple (AAPL) upgraded to Outperform from Sector Perform at Pacific Crest... BNY Mellon (BK) upgraded to Buy from Neutral at UBS... Bank of Ireland (IRE) upgraded to Buy from Neutral at BofA/Merrill... CDW Corporation (CDW) upgraded to Conviction Buy from Buy at Goldman... Hospitality Properties (HPT) upgraded to Outperform from Market Perform at Wells Fargo... Imperial Holdings (IFT) upgraded to Outperform from Market Perform at FBR Capital... InterMune (ITMN) upgraded to Buy from Neutral at Goldman... J.C. Penney (JCP) upgraded to Buy from Neutral at Citigroup... Knightsbridge Tankers (VLCCF) upgraded to Overweight from Equal Weight at Evercore... Macy's (M) upgraded to Outperform from Market Perform at Wells Fargo... Stanley Black & Decker (SWK) upgraded to Outperform at Wells Fargo... Wesco Aircraft (WAIR) upgraded to Outperform from Sector Perform at RBC Capital... Accenture (ACN) upgraded to Buy from Hold at Berenberg... PowerSecure (POWR) upgraded to Buy from Hold at Maxim... 3D Systems (DDD) upgraded to Overweight at Stephens citing top-line growth... AB InBev (BUD) upgraded to Buy from Hold at ING Group... Harmony Gold (HMY) upgraded to Sector Performer from Underperformer at CIBC... Gold Fields (GFI) upgraded to Outperformer from Sector Performer at CIBC... Kaman (KAMN) upgraded to Buy from Hold at Drexel Hamilton.
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | 4 | 5 | 6 | 7 >>
November 12, 2015
14:55 EDTJCPJ.C. Penney November weekly 9 straddle priced for 7.8% movement into Q3
14:35 EDTJCPEarnings Watch: J.C. Penney CEO says Q3 EPS, gross marin 'exceeded expectations'
J.C. Penney (JCP) is scheduled to third quarter earnings before the market opens on Friday, November 13 with a conference call scheduled for 8:30 am ET. J.C. Penney operates about 1,100 retail stores and EXPECTATIONS: Analysts are looking for a loss per share of (55c) on revenue of $2.88B, according to First Call. The consensus range for EPS is (64c)-(43c) on revenue of $2.79B-$2.95B. LAST QUARTER: J.C. Penney reported second earnings per share of (45c) on revenue of $2.88B, slightly beating estimates for (48c) and $2.86B, respectively. Comparable store sales were up 4.1% in the quarter. The retailer backed its fiscal year 2015 same-store sales view of up 4%-5% and raised its FY15 EBITDA guidance to approximately $620M from about $600M. The company also backed its FY15 gross margin view of a 100-150 basis point improvement. On its earnings conference call, J.C. Penney said it was "confident" in its ability to achieve its long-term financial targets, and forecast an improvement in second half SSS vs. first half. Further, J.C. Penney sees Q3 SSS up sequentially from Q2. The company expects to be free cash flow breakeven in FY15. NEWS: During the quarter, J.C. Penney named John Tighe as its chief merchant, succeeding Elizabeth Sweeney. J.C. Penney cut 300 jobs at its Plano, Texas, headquarters in October as it progresses on its strategic framework. On November 11, J.C. Penney reported stronger than expected SSS growth of 6.4% for Q3. Chief Executive Officer Marvin Ellison said that the company's Q3 EPS and gross margin performance "exceeded our expectations." Separately, the retailer also announced the settlement of a class action lawsuit alleging false advertising. The company will make $50M in cash available for claims under the terms of the settlement. STREET RESEARCH: On September 28, Sterne Agee CRT upgraded J.C. Penney to Buy from Neutral with a $13 price target. After meeting with the company's new CEO, the firm thinks he has the ability to lead a turnaround at the company. The firm believes that the retailer's initiatives will boost its EBITDA, and Sterne thinks the company can surpass its $1.2B 2017 EBITDA guidance while its same-store sales growth can accelerate. On October 7, Citi analyst Paul Lejuez started shares of J.C. Penney with a Sell rating and $7 price target. The company's goals are aggressive while its free cash flow is "elusive," Lejuez told investors in a research note. PRICE ACTION: Over the last three months, J.C. Penney shares are up 7.5%. In trading ahead of Friday's Q3 report, J.C. Penney is up about 4.25% to $8.88.
14:30 EDTJCPNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include J. C. Penney (JCP), consensus (55c)... Edgewell Personal Care (EPC), consensus 69c.
13:24 EDTAAPLEarnings Watch: Cisco seeks to break out of trading rut with Q1 report
Cisco Systems (CSCO) is scheduled to report results of its fiscal first quarter after the market close on Thursday, November 12 with a conference call scheduled for 4:30 pm ET. Cisco, a member of the Dow Jones Industrial Average, sells Internet protocol-based networking and other products related to the communications and IT industry and provides related services. EXPECTATIONS: Analysts are looking for earnings per share of 56c on revenue of $12.65B, according to First Call. The consensus range for EPS is 55c-59c on revenue of $12.55B-$12.81B. Along with its quarterly report, Cisco guided to Q1 EPS of 55c-57c and said it expects its revenue to increase 2%-4% year over year. LAST QUARTER: On August 12, Cisco reported fourth quarter EPS of 59c on revenue of $12.8B, beating consensus estimates of 56c and $12.65B for EPS and revenue, respectively. NEWS: On its Q4 earnings conference call, Cisco said that it was looking at acquisitions at the right price, particularly in areas like software and security. On August 31, Apple (AAPL) and Cisco announced a partnership to build a "fast lane" for iOS business users by optimizing Cisco networks for iOS devices and apps, integrating iPhone with Cisco enterprise environments and providing unique collaboration on iPhone and iPad. The next day, Cisco was among multiple other companies, including Amazon (AMZN), Google (GOOG), Intel (INTC), Microsoft (MSFT), Mozilla, and Netflix (NFLX), announcing the formation of the Alliance for Open Media to build next-generation media formats, codecs, and technologies in the public interest. On September 3, Business Insider reported that people at Cisco still though that chairman John Chambers was running the show as chief executive officer after appointing Chuck Robbins to that role last May. On September 15, Mandiant, a FireEye (FEYE) subsidiary, said in a blog post that researchers discovered previously unknown attacks on certain routers and that such attacks replace the operating system used in Cisco equipment. About a week later, the Wall Street Journal reported that Cisco was aiming to strengthen its business in China by joining forces with Inspur group, a move which was confirmed on September 24. On October 29, Cisco announced its intention to acquire 1 Mainstream. CNBC later reported that the company paid $100M-$150M to acquire 1 Mainstream. On November 9, Ericsson (ERIC) and Cisco announced a global business and technology partnership to "create the networks of the future." The companies said that the strategic partnership will be a key driver of growth and value for the next decade, with each company benefiting from incremental revenue in calendar year 2016 and expected to ramp to $1B or more for each by 2018. STREET RESEARCH: On August 17, Morgan Stanley downgraded Cisco to Equal Weight from Overweight and maintained a $30 price target on the stock, saying it did not believe improved growth is "secular" and anticipates growth will revert to GDP like levels as the upgrade cycle concludes. Wells Fargo said on August 28 that a 10% selloff in communication tech stocks, including Cisco, had created an attractive buying opportunity. Bernstein said a week later that Cisco, Juniper (JNPR), and F5 Networks (FFIV) should be bought on wider macro economic weakness. On October 6, Citi initiated coverage of Cisco with a Buy rating and $30 price target. A week later, Barclays initiated coverage of Cisco with an Overweight rating and a $32 price target. On November 9, RBC Capital maintained an Outperform rating and $33 price target on Cisco, saying it expects the company to report slightly better than expected results. The next day, SunTrust maintained a Buy rating on Cisco, saying its partnership with Ericsson was a positive and should strengthen Cisco's service provider business. PRICE ACTION: In afternoon trading ahead of tonight's report, Cisco shares were up 0.5% to $27.97. In the last three months, Cisco shares are fractionally higher and virtually unchanged when discounting this afternoon's slight rise.
12:31 EDTAAPLPayPal will see limited impact from competition, says Baird
Baird analyst Colin Sebastian expects competition from other online payment platforms, including Apple's (AAPL) ApplePay, to have a limited impact on PayPal (PYPL). The cross-border remittance market, with regulations, compliance costs and management of fraud risk, has high barriers to entry, Sebastian tells investors in an intraday research note. He believes PayPal's combination with Xoom (XOOM) creates a "well-established remittance service" that should see accelerating growth. The ApplePay remittance threat "seems misunderstood," Sebastian argues. He keeps an Outperform rating on PayPal with a $45 price target. The stock is down today $1.04 to $35.29.
12:02 EDTMOn The Fly: Top stock stories at midday
Stocks on Wall Street opened deep in negative territory but the averages began to pare their losses almost immediately. All eyes and ears were on Fed Chair Janet Yellen, who gave a welcoming speech at a Fed conference, though she did not discuss policy or the economy. Other Fed speakers talked about the lack of inflation as well as interest rate expectations, but their comments so far this morning have failed to clarify expectations for the December meeting. ECONOMIC EVENTS: In the U.S., initial jobless claims were unchanged at 276,000 in the week of November 7, versus expectations for 270,000 first-time claims. The JOLTS report showed job openings rebounded 149,000 to 5.53M in September. In Europe, European Central Bank president Mario Draghi, in remarks delivered in a hearing in the European Parliament, once again signaled that the bank is ready to boost stimulus at its December meeting as warranted. COMPANY NEWS: Shares of Angie's List (ANGI) jumped 12% after Barry Diller's IAC/InterActiveCorp (IACI), the parent company of HomeAdvisor, made public a $8.75 per share cash buyout offer. Yelp (YELP), which also connects people with local businesses via its web-based and mobile services, advanced 8% following the revelation of the takeout bid for Angie's List... Department store owner Kohl's (KSS), which was weak yesterday along with virtually every company in the space following Macy's (M) disappointing results, bounced back 6% after its third quarter report topped expectations on both the top and bottom lines... Advance Auto Parts (AAP) sunk 13% after its earnings missed the consensus forecast, its profit guidance was lowered, its CEO announced plans to retire and Starboard's CEO Jeff Smith was appointed to the company's board. MAJOR MOVERS: Among the notable gainers was Eros International (EROS), which rallied more than 8.5% after it called allegations of security laws violations "baseless and misleading." Also higher was Viacom (VIAB), which gained 2.5% after it quarterly earnings came in roughly in-line with consensus estimates. Among the noteworthy losers was Fairmount Santrol (FMSA), which fell 20% after reporting downbeat third quarter earnings and suspending its earnings guidance due to market uncertainty. Also lower was Flower Foods (FLO), which dropped 10% after it reported quarterly earnings and narrowed its fiscal 2015 guidance. INDEXES: Near midday, the Dow was down 147.82, or 0.84%, to 17,554.40, the Nasdaq was down 18.15, or 0.36%, to 5,048.87, and the S&P 500 was down 13.77, or 0.66%, to 2,061.23.
10:00 EDTMOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Angie's List (ANGI) upgraded to Market Perform from Underperform at Raymond James... CGI Group (GIB) upgraded to Buy from Hold at Societe Generale... Devon Energy (DVN) upgraded to Buy from Neutral at Guggenheim... EP Energy (EPE) upgraded to Neutral from Sell at Citi... Franco-Nevada (FNV) upgraded to Buy from Hold at Canaccord... Galena (GALE) upgraded on commercial business divestment at Oppenheimer... KPN (KKPNY) upgraded to Buy from Hold at HSBC... Macy's (M) upgraded to Buy from Neutral at Northcoast... Magic Software (MGIC) upgraded to Overweight from Equal Weight at Barclays... Range Resources (RRC) upgraded on valuation, 2016 outlook at RBC Capital... Raytheon (RTN) upgraded to Buy from Hold at Argus... Trend Micro (TMICY) upgraded to Buy from Neutral at Nomura.
09:59 EDTAAPLSterne Agee sees 'great buying opportunity' in NXP pullback
The weakness in NXP Semiconductors (NXPI) following its third quarter results gives investors "a great buying opportunity," research firm Sterne Agee wrote in a note to investors today. NXP Semiconductors is a chip maker that agreed to acquire another player in the space, Freescale (FSL), last March. WHAT'S NEW: Synergies from the Freescale deal could increase NXP's EPS by 31c in 2016 and 92c in 2017, Sterne Agee CRT analyst Douglas Freedman wrote. Moreover, NXP's ability to generate stronger earnings growth than its peers despite a tough demand environment is "impressive," contended the analyst. The company's outperformance and debt deleveraging should cause its stock's multiple to rise, forecast Freedman, who kept a $107 price target and Buy rating on the shares. WHAT'S NOTABLE: NXP Semiconductors was among the chip makers whose stock rose after Apple (AAPL) reported stronger than expected results on October 27. However, Credit Suisse on November 10 cut its estimates for iPhone shipments going forward into 2016, noting that NXP is one of the chip makers that gets 10% or more of its revenue from Apple. PRICE ACTION: In early trading, NXP lost 0.4% to $80.98.
09:36 EDTAAPLActive equity options trading on open
Subscribe for More Information
09:31 EDTMMacy's upgraded to Buy from Neutral at Northcoast
Subscribe for More Information
09:19 EDTAAPLPayPal sinks with Apple eyeing peer-to-peer payments
Shares of PayPal (PYPL) are weak again this morning following a report yesterday afternoon alleging that Apple (AAPL) is set to launch a competitor to one of the payment technology company's offerings. Analysts that were already split about PayPal's prospects are also divided on the potential impact of Apple's entry, with a bull at Citi downplaying the risk and a bear at Piper Jaffray voicing greater concern. APPLE COMPETITION: Apple is in talks with U.S. banks to create a mobile person-to-person payment service, reported The Wall Street Journal yesterday afternoon, citing people familiar with the matter. Apple's service, which would likely be linked to the company's Apple Pay system and could get off the ground next year, would compete with PayPal's Venmo peer-to-peer, or P2P, payment platform, the Journal said. BULLISH TAKE: Citi analyst Ashwin Shirvaikar says his Buy thesis on PayPal is unchanged after the Journal's report regarding Apple's efforts. Apple is a "viable competitor in a crowded field," but its product is unlikely to change the near-term growth trajectory of PayPal's Venmo, Shirvaikar told investors in a research note. He keeps a Buy rating on PayPal with a $44 price target. BEARISH TAKE: Piper Jaffray analyst Gene Munster believes Apple's reported plans for a P2P payment offering sometime in 2016 will have limited to no impact on his model for the iPhone maker, but cautions that more mobile wallets offering P2P will add to the challenges facing PayPal's Venmo. The analyst believes the "real estate for all logos at the point-of-sale will be scarce and cluttered," noting that in addition to new entrants like Apple Pay, Samsung Pay, Google's (GOOG) Android Pay, JPMorgan's (JPM) Chase Pay, MCX/CurrentC and PayPal there are still legacy players such as Visa (V) Checkout, MasterCard (MA) Masterpass, and American Express' (AXP) Express Checkout. Munster thinks Venmo is a strong offering that will keep gaining share, but in addition to competition, he sees low interest rates hindering float income and thinks the value proposition for consumers and merchants remains "uncertain." The analyst keeps an Underweight on PayPal, which is the firm's equivalent of a "sell" rating, with a $30 target for its shares. PRICE ACTION: Shares of PayPal slipped 1.8% to close at $36.33 yesterday following the Journal's report. In pre-market trading, the stock fell another 1% to $36 per share.
08:33 EDTMG-III Apparel estimates lowered at Stephens following Macy's report
Stephens analyst Rick Patel lowered his estimates for G-III Apparel (GIII) and cut his price target on the stock to $70 from $79 in response to the weaker than expected Q3 results reported by its customer Macy's (M). Patel notes that Macy's accounts for only 18% of G-III sales, but also acknowledges that implications of weak consumer demand could have a broader impact. He keeps an Overweight rating on G-III, however, citing its long-term opportunity, and said the recent pullback presents a good buying opportunity for patient investors.
08:07 EDTACNAccenture, Box say Amadeus bringing Box content platform to workforce
Subscribe for More Information
08:06 EDTMMacy's price target lowered to $48 from $60 at Stifel
Subscribe for More Information
08:05 EDTBUDAB InBev price target of $157 may be conservative, says Susquehanna
Subscribe for More Information
06:49 EDTAAPLQualcomm share loss at Samsung worse than expected, says JPMorgan
Subscribe for More Information
06:49 EDTAAPLPayPal volatility elevated after reports of Apple working on payment service
Subscribe for More Information
06:41 EDTMMacy's selloff yesterday 'seems excessive,' sayst Citi
Citi analyst Paul Lejuez says the post-earnings selloff yesterday, which reduced Macy's market capitalization by $2.5B, "seems excessive." The analyst "would not be surprised" to see the stock "recover slightly" from current levels. He lowered his price target for the stock to $43 from $48 and keeps a Neutral rating on Macy's.
06:37 EDTAAPLCiti says PayPal thesis unchanged with possible Apple P2P launch
Subscribe for More Information
05:51 EDTAAPLApple P2P offering to have limited impact, says Piper Jaffray
Subscribe for More Information
1 | 2 | 3 | 4 | 5 | 6 | 7 >>

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use