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Stock Market & Financial Investment News

News Breaks
January 7, 2014
10:02 EDTWDAY, STI, LOGI, CLR, BDN, SHW, BBT, YUM, VAR, STJ, JNJ, COF, BDX, GLUU, LULU, PRGO, UNH, PLL, CVD, BRO, AJG, LMT, MGM, ABVOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Arthur J. Gallagher (AJG) upgraded to Overweight from Equal Weight at Barclays... Becton Dickinson (BDX) upgraded to Neutral from Underperform at BofA/Merrill... Brandywine Realty (BDN) upgraded to Outperform from Market Perform at Raymond James... Brown & Brown (BRO) upgraded to Overweight from Equal Weight at Barclays... Capital One (COF) upgraded to Conviction Buy from Buy at Goldman... Continental Resources (CLR) upgraded to Buy from Neutral at BofA/Merrill... Covance (CVD) upgraded to Buy from Hold at Jefferies... Johnson & Johnson (JNJ) upgraded to Outperform from Sector Perform at RBC Capital... Logitech (LOGI) upgraded to Equal Weight from Underweight at Barclays... Pall Corp. (PLL) upgraded to Buy from Neutral at BofA/Merrill... St. Jude Medical (STJ) upgraded to Sector Perform from Underperform at RBC Capital... SunTrust (STI) upgraded to Outperform from Market Perform at BMO Capital... UnitedHealth (UNH) upgraded to Buy from Hold at Deutsche Bank... Varian Medical (VAR) upgraded to Neutral from Sell at Citigroup... Workday (WDAY) upgraded to Buy from Neutral at UBS... Yum! Brands (YUM) upgraded to Top Pick from Outperform at RBC Capital... Perrigo (PRGO) upgraded to Buy from Neutral at BofA/Merrill... AmBev (ABV) upgraded to Overweight from Equal Weight at Morgan Stanley... lululemon (LULU) upgraded to Buy from Neutral at DA Davidson... MGM Resorts (MGM) upgraded to Overweight from Equal Weight at Morgan Stanley... Glu Mobile (GLUU) upgraded to Buy from Hold at Craig-Hallum... BB&T (BBT) upgraded to Overweight from Neutral at JPMorgan... Sherwin-Williams (SHW) upgraded to Buy from Hold at KeyBanc... Lockheed Martin (LMT) upgraded to Buy from Neutral at BofA/Merrill.
News For AJG;BDX;BDN;BRO;COF;CLR;CVD;JNJ;LOGI;PLL;STJ;STI;UNH;VAR;WDAY;PRGO;YUM;ABV;LULU;BBT;MGM;GLUU;SHW;LMT From The Last 14 Days
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February 3, 2016
05:21 EDTLMTLockheed Martin awarded JCSAT-17 satellite contract from SKY Perfect JSAT
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February 2, 2016
16:50 EDTAJGArthur J. Gallagher: annualized post-tax clean energy earnings could grow 15%
"Annualized net after-tax earnings from our clean-energy investments could increase by approximately 15% per annum in 2016 and 2017," said the company.
16:47 EDTAJGArthur J. Gallagher reports Q4 adjusted EPS 59c, consensus 55c
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15:16 EDTCLRS&P takes rating actions on U.S. investment-grade E&P companies
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14:32 EDTBDXNotable companies reporting before tomorrow's open
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10:01 EDTLOGIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Agnico Eagle (AEM) downgraded to Hold from Buy at Desjardins... Alere (ALR) downgraded to Hold from Buy at Canaccord... Antero Resources (AR) downgraded to Reduce from Neutral at SunTrust... Carbylan (CBYL) downgraded to Market Perform from Outperform at Leerink... Copa Holdings (CPA) downgraded to Hold from Buy at Deutsche Bank... Dominion (D) downgraded to Neutral from Buy at Citi... Duke Energy (DUK) downgraded to Market Perform from Outperform at Wells Fargo... Hain Celestial (HAIN) downgraded to Neutral from Overweight at Piper Jaffray... Integrated Device (IDTI) downgraded to Neutral from Buy at BofA/Merrill... Logitech (LOGI) downgraded to Underweight from Equal Weight at Morgan Stanley... Merus Labs (MSLI) downgraded to Sector Perform from Outperform at Scotiabank... New Gold (NGD) downgraded to Sell from Buy at Desjardins... Nokia (NOK) downgraded to Underperform from Buy at CLSA... Plantronics (PLT) downgraded to Underperform from Outperform at Raymond James... Pool Corp. (POOL) downgraded to Equal Weight from Overweight at Stephens... Praxair (PX) downgraded to Sector Weight from Overweight at KeyBanc... Rofin-Sinar (RSTI) downgraded to Neutral from Buy at Longbow... Southwestern Energy (SWN) downgraded to Neutral from Overweight at JPMorgan... Stifel cuts Twitter (TWTR) to Sell after noting Yahoo has significantly more users... Superior Energy (SPN) downgraded to In-Line from Outperform at Imperial Capital... Sysco (SYY) downgraded to Underweight from Equal Weight at Morgan Stanley... Telenor (TELNY) downgraded to Underperform from Neutral at Credit Suisse... Twitter (TWTR) downgraded to Sell from Hold at Stifel... Valeo (VLEEY) downgraded to Underweight from Equal Weight at Morgan Stanley.
08:53 EDTJNJPiper Jaffray biopharma analyst holds an analyst/industry conference call
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08:47 EDTJNJAduro Biotech shares undervalued, says Roth Capital
After Aduro (ADRO) received a $22.4M payment from Johnson & Johnson (JNJ), Roth Capital says that Aduro's valuation does not adequately reflect its opportunities. The firm thinks the company has several "broad business development opportunities." It keeps a $68 price target and Buy rating on the shares.
07:42 EDTJNJPressure mounts on big pharma names to shrink, sharpen focus, FT says
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06:48 EDTMGMMGM Resorts setup favorable after underperformance, says Deutsche Bank
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06:32 EDTJNJGSK, J&J back Index Ventures' $1B biotech business spinoff, Reuters says
GlaxoSmithKline (GSK) and Johnson & Johnson (JNJ) will back a new spinoff from Index Ventures, which is spinning off its biotech portfolio into a new $1B entity, Reuters reports. The New Medicxi Ventures business will be helmed by the existing life sciences team from Index and will include all the current biotech portfolio firms, the report says. Medicxi raises $229M for a new fund in Europe with GSK and J&J each putting in 25%, Reuters reports. Reference Link
05:59 EDTLOGILogitech downgraded to Underweight from Equal Weight at Morgan Stanley
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05:29 EDTLOGILogitech downgraded to Underweight from Equal Weight at Morgan Stanley
February 1, 2016
17:48 EDTLOGILogitech in 'many' discussions for VR peripherals, AFR says
In an Australian Financial Review interview published Monday, Logitech CEO Bracken Darrell said, "Optimizing the experience of the peripherals that go with VR will be an interesting place for us. We're in the middle of many discussions in that space... and at some point you can bet we'll jump in. But we're years away from viewing that as a serious category. We'd rather come in late and better than come in early and awkwardly." In the meantime, AFR said, Logitech will continue its "smart home" efforts. Reference Link
10:06 EDTLMTLockheed Martin and Duke Energy sign 17-year energy agreement
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09:36 EDTMGMActive equity options trading on open
Active equity options trading on open: BAC AAPL FB AMZN TWTR MGM MCD NFLX GILD INTC TSLA AA BABA C
08:13 EDTJNJAduro Biotech receives $20M milestone payment from Janssen Biotech
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06:52 EDTMGMMacau reports January casino revenue down 21.4% to 18.67B patacas
Macau's gaming bureau reported January casino revenue in the region fell 21.4% to 18.67B patacas. Publicly traded companies in the space include Las Vegas Sands (LVS), MGM Resorts (MGM), Wynn Resorts (WYNN), and Melco Crown (MPEL).
January 31, 2016
12:33 EDTSTI, BBTU.S. banks could return 20% or more, Barron's says
The banking sector looks like "one of the best bargains in the market," Barron's contends in a cover story. Names such as Citi (C), JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), Morgan Stanley (MS), BB&T (BBT), PNC Financial (PNC), SunTrust (STI) and U.S. Bancorp (USB) are showing healthy balance sheets and could offer "at least" 20% upside, the publication argues, adding that the industry's exposure to the energy sector "looks manageable" given information offered in recent earnings reports and conference calls. Reference Link
11:39 EDTJNJS&P falls 5% in January despite second straight winning week to close month
Stocks finished the month of January with two straight winning weeks, but investors are still glad to see the calendar flip as those winners only cut the S&P's loss to 5% for the month. With growth worries abounding amid troubling signs from China and as oil languishes below $35 per barrel, the manufacturing readings from China, Europe, and the U.S. due out on Monday will be essential to whether the new month continues the uptrend of the end of January or the dour tone that dominated the early half of the month. MACRO NEWS: The Federal Reserve kept interest rates unchanged following its policy meeting this week, as almost universally expected. In its accompanying statement, the central bank said its committee members expect that economic conditions will "evolve in a manner that will warrant only gradual increases in the federal funds rate." The group added that inflation is expected to "remain low in the near term, in part because of the further declines in energy prices, but to rise to 2% over the medium term as the transitory effects of declines in energy and import prices dissipate and the labor market strengthens further"... In other domestic economic news, the Commerce Department's first read on fourth quarter gross domestic product came in at 0.7% annualized growth, below the already anemic 0.8% growth forecast. The S&P/Case-Shiller 20-city home price index rose 5.8% from the prior year in November, topping expectations for a 5.7% year-over-year increase. The separate FHFA house price index showed a monthly gain of 0.5% in November, matching the consensus forecast. Markit's services PMI for January came in at 53.7, missing the 54.0 forecast. The preliminary reading of the Conference Board's consumer confidence index for January came in at 98.1, topping the 96.5 reading that was expected. New home sales surged 10.8% to a 544,000 annualized pace in December, topping expectations and hitting their highest level in 10 months. Initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The University of Michigan consumer sentiment index slipped to 92.0 in the final January print, missing the 93.0 reading that was forecast... In a surprising move in Asia, the Bank of Japan introduced a rate of minus 0.1% on certain excess holdings of cash while maintaining the pace of its asset purchases. Japan also reported data pointing to a softening economy, as total CPI grew 0.2% year-over-year in December, core CPI rose at only a 0.1% pace and industrial production fell a preliminary 1.4% month-over-month in December. COMPANY NEWS: McDonald's (MCD) advanced Monday after the fast food giant reported better than expected earnings and comparable sales growth for the fourth quarter, powered by the launch of All Day Breakfast in the U.S.... Earnings season accelerated Tuesday as four members of the bluechip Dow Jones Industrial Average posted results before the opening bell. 3M (MMM) was the top advanced on the index with a gain of over 5%, while Johnson & Johnson (JNJ), Procter & Gamble (PG) and DuPont (DD) all notched gains that day following their reports as well... Apple (AAPL) declined more than 6.5% on Wednesday after the tech giant reported first quarter earnings that topped consensus estimates, but also issued revenue guidance for the new quarter that missed expectations. The company was noted by several analysts as taking a particularly downbeat tone in its earnings conference call, invoking the difficult macroeconomic environment and weakness it has recently seen in China. Apple was not the worst performer in the Dow that day, as Boeing (BA) shares plummeted nearly 9% after its profit outlook for the new fiscal year fell far short of the Street's consensus forecast... Facebook (FB) surged 15.5% on Thursday after the social media giant's fourth quarter earnings and revenue beat expectations. A number of Wall Street analysts increased their price targets for the stock following the report, including Piper Jaffray's Gene Munster, who hiked his target to a "Street-high" $170 per share. The same day, Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded almost 5% after the company jumped over the lowered bar that had been set by bearish analysts... On Friday, shares of Amazon (AMZN) declined more than 7.5% after the company's fourth quarter results came in below expectations. Meanwhile, Microsoft (MSFT), which reported better than expected earnings, gained almost 6%. Chevron (CVX) reported a quarterly loss due to taking impairments and other charges of $1.1B. The company, which also reported that its average sales price per barrel of crude oil and natural gas liquids in the U.S. was $35 in fourth quarter, down from $66 a year ago, edged up 0.7% to $86.44... Among the many others reporting earnings this week, Visa (V), Mastercard (MA), Under Armour (UA), Sprint (S) and Biogen (BIIB) gained immediately following their reports, while Qualcomm (QCOM), eBay (EBAY), U.S. Steel (X), VMware (VMW) and Anthem (ANTM) all slid following their own... Xerox (XRX) announced plans to separate into two independent publicly-traded companies: one focused on Document Technology and another Business Process Outsourcing company. Xerox also announced an agreement related to the governance of the Business Process Outsourcing company under which six directors of the new company will be selected by Xerox and three will be selected by current Xerox shareholder Carl Icahn... Terex (TEX) surged more than 36% higher on Tuesday after receiving a $30 per share acquisition offer from China's Zoomlion. Terex peers Manitowoc (MTW), Joy Global (JOY) and Oshkosh (OSK) also gained after the offer was disclosed... Weight Watchers (WTW) shares soared nearly 20% Tuesday after noted shareholder and partner Oprah Winfrey tweeted a video detailing her progress using the company's program, indicating that she'd already lost 26 pounds thanks to its plan... AIG (AIG) provided its much-anticipated strategy update, committing to return at least $25B to shareholders over the next two years and announcing the sale of AIG Advisor Group to Lightyear Capital and PSP Investments. The company, under ongoing pressure from activist investors including Carl Icahn, also said it will publicly offer a portion of its United Guaranty unit, though it expressly rejected a full company breakup... SunEdison (SUNE) gained 18% during the week after agreeing to new corporate governance initiatives with David Einhorn's Greenlight Capital, including amending its bylaws to restrict equity issuances for two years without a supermajority board vote... Twitter (TWTR) slumped nearly 6% this week after CEO Jack Dorsey confirmed the departure of four company executives, leading research firm Stifel to downgrade the shares. INDEXES: The Dow gained about 2.2% to close at 16,466.30; the S&P 500 rose about 1.6% to close at 1,940.24; the Nasdaq advanced about 0.4% to close at 4,613.95.
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