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Stock Market & Financial Investment News

News Breaks
March 19, 2012
11:47 EDTCRME, ACI, AIXG, S, RSOL, CFR, CVU, APA, SCHN, MEMS, CYN, BBBY, ATK, VRTX, RDC, EBAYOn The Fly: Analyst Downgrade Summary
Today’s notable downgrades include: Aixtron (AIXG) downgraded to Underweight from Neutral at HSBC…Alliant Techsystems (ATK) downgraded to Underweight from Equal Weight at Barclays…Apache (APA) downgraded to Neutral from Buy at Goldman…Arch Coal (ACI) downgraded to Sell from Neutral at Goldman…Bed Bath & Beyond (BBBY) downgraded to Neutral from Buy at Longbow…CPI Aerostructures (CVU) downgraded to Hold from Buy at Capstone…Cardiome (CRME) downgraded to Market Perform from Outperform at BMO Capital…City National (CYN) downgraded to Neutral from Buy at B. Riley …Cullen/Frost (CFR) downgraded to Hold from Buy at Wunderlich…eBay (EBAY) downgraded to Neutral from Buy at Citigroup…Memsic (MEMS) downgraded to Hold from Buy at Needham…Real Goods Solar (RSOL) downgraded to Hold from Buy at Cantor…Rowan Companies (RDC) downgraded to Neutral from Overweight at JPMorgan…Schnitzer Steel (SCHN) downgraded to Neutral from Buy at Davenport…Sprint (S) downgraded to Underperform from Market Perform at Bernstein…Vertex (VRTX) downgraded to Underweight from Equal Weight at Morgan Stanley.
News For AIXG;ATK;APA;ACI;BBBY;CVU;CRME;CYN;CFR;EBAY;MEMS;RSOL;RDC;SCHN;S;VRTX From The Last 14 Days
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April 9, 2015
09:18 EDTBBBYBofA/Merrill retail analysts hold an analyst/industry conference call
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08:35 EDTCRMECardiome's Binavess approved for reimbursement by Belgian authorities
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07:27 EDTVRTXPTC Therapeutics price target raised to $115 from $75 at Deutsche Bank
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05:51 EDTBBBYWells Fargo remains cautious on Bed Bath & Beyond
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April 8, 2015
19:46 EDTBBBYOn The Fly: After Hours Movers
UP AFTER EARNINGS: Apogee (APOG), up 6.4%... Pier 1 Imports (PIR), up 4.4%. ALSO HIGHER: Inovio Pharmaceuticals (INO), up 5.6% after being selected by DARPA to lead $45M Ebola prevention program. DOWN AFTER EARNINGS: Alcoa (AA), down 3.5%... Bed Bath & Beyond (BBBY), down 3.5%. ALSO LOWER: Zynga (ZNGA), down 10.3% after announcing CEO transition... Memorial Production (MEMP), down 2.9% after filing to sell 4.6M common units owned by MRD Holdco... Regulus (RGLS), down 2.2% after filing to sell 3.3M shares for Isis Pharmaceuticals.
17:30 EDTAPAApache initiated with a Market Perform at BMO Capital
Target $70.
16:40 EDTAPAApache sells Australian operations for $2.1B
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16:23 EDTCRMEWestfield Capital reports 13.34% passive stake in Cardiome
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16:19 EDTBBBYBed Bath & Beyond sees FY15 SSS up 2%-3%
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16:18 EDTBBBYBed Bath & Beyond sees Q1 EPS 90c-95c, consensus $1.01
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16:16 EDTBBBYBed Bath & Beyond reports Q4 EPS $1.80, consensus $1.80
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15:24 EDTBBBYNotable companies reporting after market close
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14:45 EDTBBBYBed Bath & Beyond technical comments ahead of earnings
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06:06 EDTSSoftbank downsizing Silicon Valley presence, WSJ reports
SoftBank (SFTBF) has reduced its presence in Silicon Valley, relocating some employees to Japan and subsidiary Sprint's (S) headquarters in Kansas, The Wall Street Journal reports. The move to downsize comes after Sprint's failed bid to acquire T-Mobile US (TMUS) last year. Reference Link
April 7, 2015
11:03 EDTSCHNSchnitzer Steel advances after earnings, levels to watch
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10:49 EDTSCHNSchnitzer Steel sees strategic actions delivering $60M by year-end FY16
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08:38 EDTSCHNSchnitzer Steel sees restructuring charges of approximately $10M
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08:37 EDTSCHNSchnitzer Steel commence scost reduction, capacity reduction
The company has commenced two strategic initiatives: (i) A cost reduction, capacity reduction and productivity improvement initiative which, in the aggregate, is intended to improve financial performance by $60M annually by the end of 2016; and (ii) The integration of the Auto Parts and Metals Recycling Businesses into a single division by the end of fiscal 2015 which is intended to further optimize the efficiencies in our operating platform, enable additional synergies to be captured throughout our supply chain and global sales channel, and more effectively leverage our shared services platform. "In the face of steep declines in commodity prices, we are taking deliberate and substantial steps to continue to lower our operating costs and generate positive cash flow,” said Tamara Lundgren, President and CEO. “The strategic cost reduction actions currently underway are expected to deliver additional annual benefits of approximately $60M. This comes in addition to approximately $65M in cost savings and productivity benefits we have delivered since fiscal 2013. The new strategic actions form part of a longer term plan which we expect will lead to improved financial performance and will position us to emerge from this trough in the cycle with greater operating leverage,” Lundgren said.The company says, "About half of the approximately $60M in targeted savings is expected to come from our Metals Recycling Business, through a combination of equipment idling, including reduced depreciation, and SG&A reductions. Another approximately 40% is expected to come from our Auto Parts Business through the closing of stores, SG&A reductions and productivity improvement initiatives, including $14 million announced earlier this fiscal year. The balance is expected to come from our Corporate Shared Services Division through the reduction of organizational layers and leveraging support functions across the Company’s operating platform. The Company expects approximately a quarter of the savings to be achieved in the fourth quarter of fiscal 2015, with the remainder to be delivered by the end of fiscal 2016. In connection with our strategic cost reduction initiatives, we expect to incur restructuring charges of approximately $10M."
08:35 EDTSCHNSchnitzer Steel reports Q2 adjusted EPS (33c), consensus (6c)
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08:14 EDTBBBYBed Bath & Beyond April volatility elevated into Q4 and outlook
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