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Stock Market & Financial Investment News

News For AIV;ARE;BXP;FAST;GGP;OCN;SPG;SCCO;EVER;SBUX;MNST;CVX;CP From The Last 14 Days
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April 1, 2015
16:24 EDTSPGOn The Fly: Closing Wrap
Stocks began the session in negative territory, extending their losses from yesterday. The slide followed a disappointing report on private sector hiring in March as well as data on manufacturing in the U.S., China and the eurozone. Investors are now looking forward to Friday’s nonfarm payrolls report, which will be issued as usual on the first Friday of the new month despite the fact that the stock market will be closed for the Good Friday holiday. ECONOMIC EVENTS: In the U.S., payroll processor Automatic Data Processing said private payrolls grew by 189,000 in March, missing the consensus forecast for 225,000 jobs to have been added. Markit's final manufacturing PMI for March edged up to 55.7 from the 55.3 flash reading, where analysts expected it to remain. The Institute for Supply Management's manufacturing index fell to 51.5 in March, lower than the consensus forecast for a smaller drop to 52.5 from the prior 52.9 reading. Construction spending declined 0.1% in February, as forecast. In China, the official PMI climbed to 50.1 in March from 49.9 in February, beating the estimate for a 49.7 reading. HSBC and Markit’s manufacturing PMI also topped analysts’ consensus forecast. In Europe, Markit's purchasing managers index for the eurozone rose to 52.2 in March from 51.0 in February. Markit had previously estimated in a flash reading that the PMI rose to 51.9 during last month. COMPANY NEWS: General Motors (GM) slipped 76c, or 2.03%, to $36.74 and Ford Motor (F) declined 23c, or 1.43%, to $15.91 after the automakers reported their U.S. sales fell 2.4% and 3.4%, respectively, in this March compared to the same month of last year... Web domain marketplace operator GoDaddy (GDDY) jumped $6.15, or 30.75%, to close at $26.15 following its first day of trading on the NYSE. The company priced its initial public offering of stock at $20 per share. MAJOR MOVERS: Among the notable gainers was Dyax (DYAX), which advanced $9.00, or 53.69%, to $25.75 after the drugmaker reported data from a Phase 1b clinical trial of its DX-2930 drug, a treatment for hereditary angioedema, or HAE. Also rising was Receptos (RCPT), which jumped $8.55, or 5.19%, to $173.44 after Bloomberg reported that the company received expressions of takeover interest while it was in partnership talks with other drugmakers. Among the noteworthy losers was UTi Worldwide (UTIW), which fell $2.32, or 18.86%, to $9.98 after its quarterly report and guidance prompted RBC Capital to downgrade the stock to Sector Perform and state that it has "lost confidence" in the company's ability to deliver top-line growth, cost cuts, and margin improvement near-term. Also lower were shares of Macerich (MAC), which declined $5.60, or 6.64%, to $78.73 after announcing that its board unanimously rejected Simon Property Group's (SPG) revised, unsolicited proposal to acquire the company for $95.50 per share in cash and stock. INDEXES: The Dow fell 77.94, or 0.44%, to 17,698.18, the Nasdaq lost 20.66, or 0.42%, to 4,880.23, and the S&P 500 dropped 8.20, or 0.4%, to 2,059.69.
11:09 EDTCVXChevron management to meet with Jefferies
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10:01 EDTSBUXOn The Fly: Analyst Initiation Summary
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08:53 EDTSPGMacerich shares likely to trade to mid-$70s, says Wells Fargo
Wells Fargo expects shares of Macerich (MAC) to initially trade in the mid-$70s before stabilizing in the $77-$82 range after the company rejected Simon Property's (SPG) best and final offer. Wells does not expect Simon to pursue Macerich and notes shareholders are dissatisfied with Macerich's "poor articulation" of a path to a superior outcome. The firm lowered its price target range for Macerich shares to $77-$82 from $95-$100 and keeps a Market Perform rating on the name. Macerich is trading down $4.22 to $80.11 in pre-open trading.
06:31 EDTSBUXStarbucks initiated with a Neutral at Credit Suisse
Credit Suisse initiated Starbucks with a Neutral rating and $97 price target due to valuation and growth headwinds.
06:25 EDTGGPSears, General Growth announce sale-leaseback of 12 Sears properties
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06:23 EDTGGPSears, General Growth announce 50/50 JV
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05:27 EDTSPGSimon Property withdraws offer to acquire Macerich
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05:25 EDTSPGMacerich board unanimously reject unsolicited offer from Simon Property
Macerich (MAC) announced that its board unanimously rejected Simon Property Group's (SPG) revised, unsolicited proposal to acquire the company for $95.50 per share in cash and stock. The Macerich board carefully reviewed the revised proposal with the assistance of its financial, real estate and legal advisors, and determined that the proposal continues to substantially undervalue Macerich and that pursuing the proposed transaction at this time is not in the best interests of Macerich and its stockholders.
March 31, 2015
12:16 EDTMNSTNielsen data shows Monster C-store sales slowed recently, says Jefferies
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12:11 EDTCPRailroad sector downgraded to Market Underperform at Avondale
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08:04 EDTSBUXStarbucks, Danone to launch co-branded yogurt products
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06:33 EDTSBUXStarbucks, Danone to launch co-branded yogurt products, Reuters says
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March 30, 2015
17:43 EDTCVXMcDermott awarded Chevron subsea installation contract
McDermott International (MDR) announced that it has been awarded a sizeable contract to transport and install subsea umbilicals, manifolds, jumpers and flying leads for Chevron (CVX) to support the brownfield expansion of the Jack and St. Malo fields in the U.S. Gulf of Mexico. The value of the award is included in McDermott’s first quarter backlog. McDermott’s subsea construction vessel, North Ocean 102, is expected to transport and install 30 miles of umbilicals and associated flying leads. The final jumper assembly is scheduled to be completed at McDermott’s Gulfport Spoolbase in Mississippi prior to installation by McDermott’s Derrick Barge 50 utilizing its deepwater lowering system. The installation campaign is expected to commence in the second quarter.
10:51 EDTSPGWells thinks Macerich could be working on potential deal
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March 29, 2015
17:53 EDTCVXChevron concludes sale of interest in Caltex Australia
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March 27, 2015
16:23 EDTSCCOOn The Fly: Closing Wrap
Stocks opened slightly higher but were unable to gather any upside momentum. They quickly crossed into negative territory but never really picked up speed to the downside. After the slightly better than expected consumer confidence reading, the averages moved back into positive ground where they spent most of the session hovering near the flat line. Near the close, comments by Fed Chair Janet Yellen that an interest rate hike "may be warranted later this year," lifted the averages into positive territory. ECONOMIC EVENTS: In the U.S., real GDP growth was steady at 2.2% in Q4, falling below consensus forecasts for 2.4% growth. GDP price index grew 0.1% on a linked quarter basis, matching expectations. U.S. consumer sentiment fell to 93.0 against consensus of 92.1. The current conditions index dipped to 105.0 from February's 106.9, while the consumer expectations index dropped to 85.3 from 88.0. COMPANY NEWS: Dow Chemical (DOW) and Olin (OLN) were up 3% and 14%, respectively, after announcing that Dow will separate much of its chlorine value chain and merge the entity with Olin in a $5B deal. Additionally, the companies announced a 20-year arrangement in which Dow will supply Olin with ethylene. Late in the session, the Wall Street Journal reported that Intel (INTC) was in talks to acquire Altera (ALTR), sending both stocks higher by 6% and 28%, respectively. MAJOR MOVERS: Among the notable gainers was Carnival (CCL), which rose over 6% after beating earnings expectations and raising FY15 revenue yield guidance. Also higher was BioMarin (BMRN), jumping 11% after speculation of a Shire (SHPG) takeover deal. Among the noteworthy losers was Southern Cooper (SCCO), which fell nearly 4% after the company cancelled its Tia Maria mining project. Also lower was OvaScience (OVAS), down 10% after Oppenheimer reported pushback from academics during the company's presentation of early Augment data. Opco cautioned, however, that criticism of non-trial data is "inevitable" and JMP Securities called the results encouraging. INDEXES: The Dow rose 34.43, or 0.19%, to 17,712.66, the Nasdaq gained 27.86, or 0.57%, to 4,891.22, and the S&P 500 added 4.87, or 0.24%, to 2,061.02.
15:51 EDTCVXChevron CEO Watson: We still plan on investing in U.S. in 'a very big way'
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13:54 EDTSCCOPeru Southern Copper reversing decision to cancel Tia Maria, Reuters reports
Rosa Maria Ortiz, Peru's Mining and Energy Minister, expects Southern Copper will reverse its decision to cancel the Tia Maria project in the country, Reuters reports. Reference Link
13:13 EDTSCCOSouthern Copper CEO confirms Tia Maria project not canceled, Bloomberg says
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12:36 EDTSCCOOn The Fly: Midday Wrap
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11:49 EDTSCCOOfficial says Southern Copper cancels Tia Maria mine plans, Reuters reports
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11:17 EDTSCCOOfficial says Southern Copper cancels Tia Maria mine plans, Bloomberg reports
Southern Copper is down 3.67% in late morning trading to $28.33.
11:16 EDTSCCOSouthern Copper mentioned cautiously at JPMorgan
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09:44 EDTSPGMacerich board meeting, likely to reject Simon bid, CNBC reports
The board of Macerich (MAC) is meeting and is likely to reject Simon Property's (SPG) best and final takeover offer, CNBC's David Faber reports. Shares of Macerich are trading down 96c to $86.00.
09:42 EDTSPGMacerich likely to reject Simon's best and final offer, CNBC's Faber says
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06:37 EDTCVXOil retreats after Goldman says attacks won't have much impact, Reuters reports
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05:17 EDTCVXChevron sells interest in Caltex Australia
Chevron's wholly owned subsidiary Chevron Global Energy announced that it has entered into an underwriting agreement for the sale of its 50% shareholding in Caltex Australia Limited, or CAL. It is expected that these shares will be sold to a broad range of Australian and global equity market institutional investors. The announcement does not alter Chevron’s focus on moving the Gorgon and Wheatstone liquefied natural gas, or LNG, projects towards start-up. Chevron is one of Australia’s largest foreign investors and is the largest holder of natural gas resources in the country.
March 26, 2015
17:26 EDTFASTFastenal authorizes 4M share repurchase program
Fastenal disclosed in a filing that on March 26, The Fastenal Company board of directors authorized purchases by the company of up to 4,000,000 shares of its common stock. All prior authorizations have been exhausted.
11:50 EDTOCNOcwen moves up after Inside Mortgage Finance discusses possible sale
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10:04 EDTSCCOOn The Fly: Analyst Initiation Summary
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09:17 EDTCVXChevron volatility flat, WTI trades above $51
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08:02 EDTBXPParamount reports departure of CFO Spence, appoints Walsh as CFO
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06:36 EDTCVXOil surges after Saudis attack Yemen rebels, Reuters reports
The price of West Texas Intermediate oil was up about 4% after Saudi Arabia and other countries bombed Iranian-backed rebel forces in Yemen, according to Reuters. OVerseas stocks fell signficantly following the attacks, the news service noted. Publicly traded oil companies include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
05:37 EDTSCCOSouthern Copper initiated with a Hold at Brean Capital
Brean Capital started shares of Southern Copper with a Hold rating and $32 fair value estimate. The firm says the stock's "rich" valuation is justified given the company's "deep bench" of opportunities and "strong" balance sheet.
March 25, 2015
06:38 EDTOCNCiti puts high risk rating on Ocwen, cuts target to $9
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March 24, 2015
09:22 EDTOCNOn The Fly: Pre-market Movers
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07:19 EDTOCNOcwen to sell additional $25B portfolio to Nationstar
Ocwen Financial (OCN) announced that its subsidiary, Ocwen Loan Servicing and Nationstar Mortgage, an indirectly-held, wholly-owned subsidiary of Nationstar Mortgage Holdings (NSM) have agreed in principle to the sale by Ocwen of residential mortgage servicing rights on a portfolio consisting of approximately 142,000 loans owned by Freddie Mac (FMCC) and Fannie Mae (FNMA) with a total principal balance of approximately $25B. Subject to a definitive agreement, approvals by Freddie Mac, Fannie Mae and FHFA and other customary conditions, Ocwen and Nationstar expect the transaction to close before mid-year.
07:17 EDTOCNOcwen to sell additional $25B portfolio to Nationstar
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March 23, 2015
20:02 EDTOCNOcwen receives notice of non-compliance with NYSE continued listings standards
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14:38 EDTOCNOcwen Financial volatility elevated
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10:08 EDTCPHigh option volume stocks
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07:43 EDTOCNOcwen issues rebuttal letter to trustees
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06:29 EDTOCNOcwen responds to investor allegations, WSJ says
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March 22, 2015
17:59 EDTCVXOPEC will not take sole responsibility for supporting oil price, Reuters says
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March 20, 2015
16:33 EDTSBUXStocks end week higher after market reads Fed statement as dovish
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16:13 EDTOCND. John Devaney reports 6.37% passive stake in Ocwen
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13:20 EDTSPGMacerich takeover offer from Simon 'full and reasonable,' says Wells Fargo
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10:43 EDTSPGMacerich confirms receipt of revised, unsolicited proposal from Simon Property
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08:23 EDTSPGMacerich drops 10% after Simon makes $95.50 per share 'best and final' offer
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08:06 EDTGGPGeneral Growth price target raised to $35 from $28 at Oppenheimer
Oppenheimer increased its price target on General Growth as the firm expects the company's FFO to rise by 10% this year and 13% in 2016. The firm thinks the market underestimates the company's near-term FFO growth and the value of its assets. It keeps an Outperform rating on the shares.
07:47 EDTSPGSimon Property sends final offer to acquire Macerich for $95.50 per share
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07:45 EDTSPGSimon Property sends final offer to acquire Macerich for $95.50 per share
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07:25 EDTOCNOcwen enters into amendment to OMART advance financing facility
Ocwen said in a filing that on March 19, the company entered into an amendment to its OMART advance financing facility clarifying the appropriateness of adding back the $150M New York Department of Financial Services charge as an extraordinary item for certain covenant calculations.
07:19 EDTCVXWhite House expected to unveil fracking rules today, WSJ says
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06:37 EDTCVXOil prices fall again, Reuters reports
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March 19, 2015
16:26 EDTSBUXOn The Fly: Closing Wrap
Stocks on Wall Street opened lower but turned mixed early in the day and remained that way for most of the session. The Dow and S&P spent most of the day deep in negative territory, while the Nasdaq managed to stay just above the flat line. Investors had a chance to digest yesterday’s comments from the Fed and may have re-considered whether it latest policy stance was as dovish as originally believed. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 1K to 291K in the week ended March 14, which nearly matched the consensus 293K forecast. The current account deficit widened to $113.5B in Q4 from a revised deficit of $98.9B in Q3. The leading indicators for February rose 0.2% to 121.4, which was in-line with expectations. The Philadelphia Fed business outlook survey ticked down to a 5.0 one-year low from 5.2 in February, missing expectations for it to have risen a 7.0 reading. COMPANY NEWS: Apple (AAPL) joined the Dow Jones Industrial Average after the close last night, replacing AT&T (T). Shares of Apple finished their first day in the blue chip index down 97c, or 0.76%, at $127.50, while AT&T fell 39c, or 1.16%, to $33.20... Coffee giant Starbucks (SBUX) rose $1.92, or 2%, to close at $97.76 after hitting a new all-time high of $99.20 earlier. The move follows the company's investor day meeting yesterday, where it unveiled plans for two pilots of delivery services, reported a partnership to expand the distribution of its ready-to-drink products in China, and announced that its board has declared the sixth two-for-one split of the company’s stock since its IPO in 1992. Goldman Sachs and Wells Fargo were both unphased by the record highs and predicted the rally is not over for Starbucks in upbeat notes on the stock today. MAJOR MOVERS: Among the notable gainers was Amicus Therapeutics (FOLD), which rose $3.11, or 33.26%, to $12.46 after reporting positive results in meetings with the EMA and FDA. Also higher was Wynn Resorts (WYNN), which gained $7.19, or 5.85%, to $130.11 after research firm Brean Capital last night initiated coverage of the stock and several casino peers with Buy ratings. Among the noteworthy losers was Transocean (RIG), which fell $1.09, or 7.15%, to $14.16 after saying that it intends to scrap four rigs and noting that with those it has announced plans to scrap a total of 16 floaters. Also lower after its earnings report was diversified apparel company Vince Holding (VNCE), which fell $3.50, or 16.36%, to $17.89. INDEXES: The Dow fell 117.16, or 0.65%, to 17,959.03, the Nasdaq gained 9.55, or 0.19%, to 4,992.38, and the S&P 500 declined 10.23, or 0.49%, to 2,089.27.
13:59 EDTSBUXStarbucks volatility at low end of historic range as shares at fresh life high
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13:27 EDTSBUXStarbucks hits fresh life high, levels to watch
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13:00 EDTSBUXOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with Nasdaq slightly higher and the Dow and S&P 500 both down a bit more than 0.5%. The day’s economic reports were generally benign and are likely less significant to the trading action than participants having had some time to digest yesterday’s Fed comments. Immediately after the Fed's policy statement yesterday, the U.S. dollar fell as low as 1.10 against the euro, but that move was almost entirely reversed overnight. The dollar was back near pre-Fed levels against the euro early this morning, and similar moves were seen in pairs of the dollar and other major currencies. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 1K to 291K in the week ended March 14, which nearly matched the consensus 293K forecast. The current account deficit widened to $113.5B in Q4 from a revised deficit of $98.9B in Q3. The leading indicators for February rose 0.2% to 121.4, which was in-line with expectations. The Philadelphia Fed business outlook survey ticked down to a 5.0 one-year low from 5.2 in February, missing expectations for it to have risen a 7.0 reading. In Europe, the Swiss National Bank left rates unchanged, cut its growth forecasts for the country's economy, said that it will intervene in currency markets as needed since it believes the Swiss Franc remains overvalued. COMPANY NEWS: Apple (AAPL) joined the Dow Jones Industrial Average today, replacing AT&T (T). Shares of the iPhone maker were down 0.5% near midday, while AT&T stock fell a bit more than 1%... Shares of coffee giant Starbucks (SBUX) hit a new all-time high of $98.50 earlier this afternoon following the company's investor day meeting yesterday. In conjunction with its meeting, Starbucks reaffirmed its goal to grow its market cap to $100B, unveiled plans for two pilots of delivery services, announced that its board has declared the sixth two-for-one split of the company’s stock since its IPO in 1992 and said it has entered into an agreement for Tingyi to manufacture and expand the distribution of Starbucks ready-to-drink products throughout mainland China. Goldman Sachs and Wells Fargo both issued upbeat notes on the stock today, saying that the coffee retailer's shares can continue to climb. MAJOR MOVERS: Among the notable gainers was Coronado Biosciences (CNDO), which gained 42% after announcing the formation of a new company, Mustang Therapeutics, focused on Chimeric Antigen Receptor, or CAR-T, technology. The company also announced a licensing agreement with NeuPharma for EGFR inhibitors. Also higher was Guess (GES), which gained 15% after reporting higher than expected profits for its fiscal fourth quarter. Among the noteworthy losers was Transocean (RIG), which fell 6% after having announced last night that four of its 5th generation UDW drillships will be cold stacked and the contract with ENI (E) for the Transocean Amirante was terminated. Transocean also said it intends to scrap four rigs, noting that with those it has announced plans to scrap a total of 16 floaters. Also lower following its earnings report was diversified apparel company Vince Holding (VNCE), which fell 16%. INDEXES: Near midday, the Dow was down 128.51, or 0.71%, to 17,947.68, the Nasdaq was up 3.15, or 0.06%, to 4,985.98, and the S&P 500 was down 13.36, or 0.64%, to 2,086.14.
10:45 EDTSBUXGoldman, Wells see room for Starbucks to rise further from record high
Shares of coffee giant Starbucks (SBUX) hit a new all-time high of $97.69 earlier this morning following the company's investor day meeting yesterday. Goldman Sachs and Wells Fargo both issued upbeat notes on the stock today, saying that the coffee retailer's shares can continue to climb. WHAT'S NEW: The growth of Starbucks' mobile offerings and lunch revenue, along with falling coffee prices, give it the opportunity to beat 2015 and 2016 consensus estimates, Goldman Sachs analyst Karen Holthouse wrote in a note to investors today. The analyst is increasingly confident that Starbucks can meet its guidance for a 5% increase in its comparative sales in both 2015 and 2016, driven by increases in prices, higher food sales, new coffee beverages, and its mobile system. Even after the recent run in the stock, its valuation "remains compelling," according to Holthouse, who raised her price target on the shares to $107 from $98 and kept a Buy rating on the name. After analyzing several recent presentations by Starbucks, Wells Fargo believes that the company has the right strategy to drive sustainable, ongoing growth. The company's many growth initiatives, including the expansion of its mobile payment systems, its tea and food offerings, its delivery initiative, and its packaged good business, should enable its growth to accelerate further, according to the firm. Following its sum-of-the-parts analysis, the firm thinks that investors are underappreciating Starbucks' value and failing to give the company credit for its tea and mobile business in particular. Given continued global volatility, investors will look for stable, consistent growth companies like Starbucks, Wells contended. It raised its price target range on Starbucks shares to $109-$111 from $94-$96 and kept an Outperform rating on the stock. WHAT'S NOTABLE: Yesterday, in conjunction with its meeting, Starbucks reaffirmed its goal to grow its market cap to $100B, unveiled plans for two pilots of delivery services, announced that its board has declared the sixth two-for-one split of the company’s stock since its IPO in 1992 and said it has entered into an agreement for Tingyi to manufacture and expand the distribution of Starbucks ready-to-drink products throughout mainland China. PRICE ACTION: In early trading, Starbucks climbed 1.7% to $97.44.
09:37 EDTCVXActive equity options trading on open
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08:14 EDTSBUXStarbucks shares can go higher, price target to $107 at Goldman
Goldman believes Starbucks shares can move higher despite their recent run and sees upside to 2015/16 consensus estimates driven by opportunities in mobile ordering, falling coffee prices, and positive lunch data-points. The firm believes mobile ordering is a significant growth driver and said investors appear dismissive of the opportunity. Goldman reiterates its Buy rating and raised its price target to $107 from $99 on Starbucks shares.
07:43 EDTSBUXStarbucks shares will continue to outperform, says Wells Fargo
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07:19 EDTCVXKuwaiti minister says OPEC can't cut oil production, Bloomberg reports
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March 18, 2015
17:18 EDTSBUXStarbucks confirms agreement with Tingyi Holding to expand in China
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16:49 EDTMNSTMonster Beverage names Mark Hall as Chief Marketing Officer
On March 12, Monster Energy entered into a letter agreement with Mark Hall. The Hall Agreement confirmed Hall’s position change from Chief Brand Officer to Chief Marketing Officer of Monster Energy on a full-time basis, effective as of January 1, 2015.
14:30 EDTSBUXStarbucks says in pact with Tingyi Holding to expand in China
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13:30 EDTSBUXStarbucks adjusts Q2 EPS view to 32c-33c
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13:29 EDTSBUXStarbucks adjusts FY15 EPS view to $1.55-$1.57
The company revised its FY15 EPS view to $1.55-$1.57 to account for its planned 2-fo-1 stock split. Consensus $3.13 does not compare.
13:25 EDTSBUXStarbucks announces 2-for-1 stock split
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13:21 EDTSBUXStarbucks sees Q2 split adjusted EPS 32c-33c, consensus 65c
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13:19 EDTSBUXStarbucks to begin trading on split adjusted basis on April 9
Comment from Starbucks Annual Meeting of Shareholders.
13:18 EDTSBUXStarbucks reports 2-for1 stock split
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13:06 EDTSBUXStarbucks to open next Roastery location in Asia in 2016
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13:05 EDTSBUXStarbucks to unveil two complementary delivery models
In an effort to integrate service solutions that meet the “on demand” customer, Starbucks will unveil two complementary delivery models including: A strategic collaboration with Postmates, a leading on-demand delivery service, which will allow customers to order their food and beverage items via the Starbucks mobile app and receive on-demand delivery within defined areas. This rapidly growing organization – operating in 22 markets with more than 1.5M deliveries to date – brings robust logistics technology, courier-enabled delivery and quality of service expertise. This Starbucks delivery pilot will begin in Seattle in the second half of 2015; A “Green Apron” barista delivery option enabling customers within specified office-buildings to order food and beverages for convenient delivery by Starbucks baristas. Supported by its world class real-estate capabilities, this model allows Starbucks to identify targeted solutions for environments that can benefit from an integrated service model. This Starbucks delivery test will begin in New York the second half of 2015.
13:04 EDTSBUXStarbucks reaffirms goal to grow market cap to $100B
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12:58 EDTSBUXStarbucks to begin delivery services in NY, Seattle this year, WSJ reports
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11:44 EDTOCNOcwen reopens after announcing MSR deal with Walter Investment
Ocwen (OCN) shares are up fractionally shortly after reopening for trading.
11:37 EDTOCNWalter Investment jumps 7% after subsidiary agrees to buy MSRs from Ocwen
11:36 EDTOCNOcwen intends to sell $9.6B portfolio of mortgage servicing rights to Green Tree
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11:35 EDTOCNOcwen intends to sell $9.6B portfolio of mortgage servicing rights to Green Tree
11:30 EDTOCNOcwen trading halted, pending news
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09:56 EDTCVXRumor: BP strength attributed to takeover speculation
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09:27 EDTOCNHome Loan Servicing says requires additional time to file Form 10-K
Home Loan Servicing Solutions said in a filing that on March 3, the company filed a Form 12b-25 indicating that additional time to complete its Annual Report on Form 10-K for the year ended December 31, 2014 was necessary in order to complete the assessment of recent events related to the company’s business and determine the impact on the company’s financial statements and related disclosures. At that time, the company expected to file its Form 10-K within the 15 day extension period. The company requires additional time to prepare information related to its ability to operate as a going concern and to provide such information to the auditors for the purposes of their audit of the company's financial statements for the year ended December 31, 2014.
09:25 EDTOCNOcwen says continues to analyze HLSS' ability to continue to meet obligations
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07:44 EDTOCNJPMorgan to purchase $45B of mortage service rights from Ocwen, NY Post says
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07:43 EDTSPGMacerich could see increased takeout bid from Simon, says Cowen
Cowen noted Macerich (MAC) rejected Simon Property Group's (SPG) $91 per share offer, but believes Simon Property could increase its bid. The firm feels if that occurs Macerich would be more receptive to a buyout. Cowen reiterated its Outperform rating and $95 price target on Macerich shares.
06:07 EDTSPGMacerich downgraded to Sell from Neutral at UBS
UBS downgraded Macerich (MAC) to Sell citing reduced probability of a near-term sale after the company staggered its board and adopted a poison pill. The firm now assigns only a 20% probability of a takeout at $100 per share. It lowered its price target for the stock to $84 from $90. UBS says Simon Property's (SPG) $91 per share takeover was "not unreasonable" and that he company is unlikely to pay substantially more for Macerich. Shares of the real estate investment trust closed yesterday down $3.29 to $91.60.
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