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Stock Market & Financial Investment News

News For AKR;MCD;MPEL;SYT;RHHBY;TSM;DST;AET;ATHN From The Last 14 Days
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October 24, 2014
06:14 EDTTSMTSMC to provide chips for LG's 'Nuclun' smartphone microprocessor, WSJ says
According to a source, Taiwan Semiconductor (TSM) will provide chips for microprocessors to power "Nuclun," a variation of LG's G3 smartphone, the Wall Street Journal reports. So far, LG Electronics has mostly relied on Qualcomm (QCOM) for the chips that run its smartphones. Reference Link
October 23, 2014
13:40 EDTAETWal-Mart's Sam's Club offering services to small businesses
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10:01 EDTMPELOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 3D Systems (DDD) downgraded to Hold from Buy at Brean Capital... Angie's List (ANGI) downgraded to Hold from Buy at Needham... Avalon Rare Metals (AVL) downgraded to Neutral from Buy at Citigroup... Axiall (AXLL) downgraded at Cowen... BB&T (BBT) downgraded to Neutral from Buy at Goldman... Boeing (BA) downgraded at Credit Suisse... Boulder Brands (BDBD) downgraded to Hold from Buy at Canaccord... Citrix (CTXS) downgraded to Hold from Buy at Drexel Hamilton... ClickSoftware (CKSW) downgraded to Hold from Buy at Lake Street... DTS, Inc. (DTSI) downgraded to Underweight from Neutral at JPMorgan... GulfMark Offshore (GLF) downgraded to Market Perform from Outperform at Cowen... Home Loan Servicing (HLSS) downgraded to Neutral from Buy at Compass Point... ICON plc (ICLR) downgraded to Equal Weight from Overweight at First Analysis... IPC The Hospitalist Co. (IPCM) downgraded to Market Perform at Wells Fargo... Melco Crown (MPEL) downgraded to Neutral from Buy at Nomura... Mercer (MERC) downgraded at Credit Suisse... ONEOK Partners (OKS) downgraded to Neutral from Buy at BofA/Merrill... Owens Corning (OC) downgraded to Neutral from Overweight at JPMorgan... Regency Energy Partners (RGP) downgraded to Neutral from Buy at BofA/Merrill... The Medicines Co. (MDCO) downgraded to Neutral from Buy at BofA/Merrill... Tupperware Brands (TUP) downgraded to Neutral from Overweight at JPMorgan... Union Bankshares (UBSH) downgraded at RW Baird... VOC Energy Trust (VOC) downgraded at RBC Capital... Yelp (YELP) downgraded to Hold from Buy at Stifel.
09:07 EDTMPELMelco Crown downgraded to Neutral from Buy at Nomura
08:01 EDTMCDMcDonald's pressured by rising competition in China, WSJ says
In addition to its food supplier issues, McDonald’s (MCD) has a bigger problem in China, namely rising competition from other foreign companies such as Yum! (YUM) and domestic chains that have gained prominence and scale, said The Wall Street Journal. Reference Link
October 22, 2014
06:25 EDTTSMSamsung, TSMC Solid State Lighting to quit LED lighting business, DigiTimes says
Samsung (SSNLF) will plan to withdraw from the global LED lighting market while TSMC (TSM) Solid State Lighting will cease operations, reports DigiTimes, citing industry sources. Samsung will withdraw due to low price pressure from China-based makers. TSMC Solid State Lighting will reportedly quit operations and sell production equipment to LED maker Advanced Optoelectronic Technology. Reference Link
October 21, 2014
16:36 EDTMCDOn The Fly: Closing Wrap
Stocks on Wall Street were higher after a report showed existing homes sales hit their fastest pace in a year during September and Apple (AAPL) gave a better than expected sales forecast for its December quarter. ECONOMIC EVENTS: In the U.S., existing home sales beat estimates in September, rising 2.4% from the prior month to a 5.17M rate. In China, GDP slowed to 7.3% year-over-year growth pace in Q3 from 7.5% in Q2, though that was slightly better than expected. Chinese industrial production expanded at a 8.0% rate in September, which was well above projections and up from 6.9% growth in August. China's retail sales grew 11.6% in September compared to the prior year, which was nearly in-line with expectations. COMPANY NEWS: Shares of Apple rose $2.71, or 2.72%, to $102.47 after the company reported better than expected quarterly results and gave a better than expected forecast for its sales during the holiday quarter. Following last night's report, analysts at Cantor Fitzgerald said the iPhone maker "executed impressively" in Q4 and provided a strong outlook for Q1. The firm, which believes investors should "start thinking more boldly" about the company, raised its price target for shares to $143 from $123 and kept a Buy rating on the stock... Five of the Dow's 30 members reported on their quarterly results this morning and Coca-Cola (KO) was the clear loser in the bunch. The soda giant's shares dropped $2.61, or 6.03%, to $40.68 after its revenue missed expectations, it warned that it now expects to be below its long-term EPS growth target for 2014, and the company announced new cost-saving measures. Among the other four, McDonald’s (MCD) fell 0.63%, Verizon (VZ) added 0.43%, United Technologies (UTX) gained 0.49%, and Travelers (TRV) rose 1.12%. MAJOR MOVERS: Among the notable gainers following their earnings reports were medical equipment manufacturer Waters (WAT), which rose $9.63, or 9.87%, to $107.17, and motorcycle maker Harley-Davidson (HOG), which advanced $4.27, or 7.31%, to $62.65. Among the noteworthy losers was Ocwen Financial (OCN), which plunged $4.78, or 18.2%, to $21.48 after the company was called out by the New York Department of Financial Services for erroneously dated letters to borrowers. Benjamin Lawsky, the Superintendent for the NYDFS, stated in his letter to the company that if his department concludes it cannot trust Ocwen's systems and processes, "then it cannot trust Ocwen is complying with the law." Also lower following their earnings reports were Mexican restaurant operator Chipotle (CMG), which fell $45.48, or 6.96%, to $607.55, and defense contractor Lockheed Martin (LMT), which slid $2.92, or 1.66%, to $172.61. INDEXES: The Dow gained 215.14, or 1.31%, to 16,614.81, the Nasdaq advanced 103.40, or 2.4%, to 4,419.48, and the S&P 500 rose 37.27, or 1.96%, to 1,941.28.
12:57 EDTMCDOn The Fly: Midday Wrap
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12:08 EDTATHNEinhorn says athenahealth 'doesn't earn any money'
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12:06 EDTATHNEinhorn says short thesis on athenahealth 'working itself out'
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11:57 EDTMCDChipotle falls after outlook for FY15 comparable restaurant sales disappoints
Shares of fast casual restaurant chain Chipotle Mexican Grill (CMG) are falling after the company issued a disappointing outlook for fiscal 2015 comparable restaurant sales. WHAT'S NEW: Last night, Chipotle reported third quarter earnings per share of $4.15 and revenue of $1.08B, topping analysts’ consensus estimates of $3.84 and $1.06B, respectively. Comparable restaurant sales rose 19.8% in the quarter, driven primarily by increased traffic and from a higher average check, which includes the benefit of a nationwide menu price increase that was fully rolled out by the end of the second quarter. The company opened 43 new restaurants in Q3. WHAT'S NOTABLE: Chipotle forecast comparable restaurant sales increases in the mid-teens for fiscal year 2014, and the company said it expects to open 180-195 new restaurants during the year. The company also sees an effective tax rate for FY14 of about 38.5%. For FY15, the company sees low to mid-single digits comparable restaurant sales gains, 190-205 new restaurant openings and an effective tax rate of 39.1%. On Chipotle’s Q3 earnings conference call, management said it expects food costs to continue rising into the fourth quarter and throughout 2015. The company also noted that it was still seeing strong traction growth regardless of recent menu price increases. Chipotle said it will "opportunistically" repurchase stock in order to enhance shareholder value. ANALYST REACTION: This morning, Wells Fargo kept a Market Perform rating on Chipotle, but lowered its price target range on shares to $600-$625 from $650-$675. In its note, Wells said greater than expected commodity inflation and labor cost pressure in 2015 will likely lead to lower Street estimates. Wells expects same store sales to decline sequentially from 4Q14 through 3Q15 due to double-digit traffic comparisons in earlier quarters and less pricing in later quarters. Another firm, Oppenheimer, recommended using any post-earnings weakness in shares of Chipotle as a buying opportunity. The firm believes investors are concerned over 2015 estimates coming down on food cost pressures. The firm said food cost issues are unlikely to get worse from here and it kept an Outperform rating on Chipotle with a $775 price target. PRICE ACTION: In late morning trading, Chipotle fell $44.14, or nearly 7%, to $609.28 on nearly twice its average daily trading volume. Despite today's pull back, the shares have gained approximately 21% over the past 12 months. OTHERS TO WATCH: Other fast casual restaurant companies include El Pollo LoCo (LOCO), Fiesta Restaurant (FRGI), Jack in the Box (JACK), and McDonald’s (MCD), which reported results this morning.
11:49 EDTMCDMcDonald's sees continued margin pressure in Q4
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11:30 EDTMCDMcDonald's plans to return $18B-$20B to shareholders over three years
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11:29 EDTMCDMcDonald's sees top, bottom line performance remaining pressured in Q4
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11:26 EDTMCDMcDonald's sees U.S. dollar hurting Q4 EPS by 5c-6c, FY14 EPS by 9c-10c
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09:37 EDTMCDActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL PBR AMZN C TWTR CVX VZ MCD GILD TXN
08:10 EDTMCDMcDonald's expects internal factors, external headwinds to continue in Q4
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08:09 EDTMCDMcDonald's CEO: These challenges call for equally significant changes
CEO Don Thompson said, "We began 2014 mindful of the challenges we faced in driving sales and profitability. The internal factors and external headwinds have proven more formidable than expected and will continue into the fourth quarter, with global comparable sales for October expected to be negative. These significant challenges call for equally significant changes in the way we do business. In the U.S., we are driving decision making from headquarters back into the field, where our restaurants serve the daily needs of our customers in their local communities. In our international markets, we are taking action to restore customer trust and regain business momentum. We understand the depth of the challenges and we are responding with the sense of urgency required to improve our performance."
08:08 EDTMCDMcDonald's reports Q3 AMPEA comparable sales down 9.9%
Cites the impact of the supplier issue on sales and profitability in China, Japan and certain other markets.
08:07 EDTMCDMcDonald's reports Q3 Europe comparable sales down 1.4%
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08:07 EDTMCDMcDonald's to implement revamped marketing approach, simplified menu
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08:04 EDTMCDMcDonald's reports Q3 global comparable sales down 3.3%
The decrease reflects negative guest traffic in all major segments and impact of previously-disclosed supplier issue in certain markets in APMEA. Reports Q3 consolidated operating income down 14%, half due to impact of supplier issue and remainder due to soft operating performance in US and certain markets in Europe.
08:03 EDTMCDMcDonald's to implement in global approach to increase relevance, drive traffic
The company has announced "Mcdonald's Experience of the Future", a comprehensive restaurant execution concept that elevates the menu and customer experience elements that are hallmarks of the McDonald's brand, and capitalizes on investments in reimaging, service and technology enhancements to improve the look, feel and convenience of the McDonald's experience in ways that are in-tune with today's consumer needs. It also announced a new digital strategy and a review of the organization's structure and use of resources in order to redirect spending toward those initiatives, such as the digital strategy and the McDonald's Experience of the Future, that will support the Company's key long-term growth initiatives.
08:00 EDTMCDMcDonald's: Q3 results pressred by tax rate, unusual events, US underperformance
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07:59 EDTMCDMcDonald's reports Q3 EPS $1.09, consensus $1.37
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07:15 EDTRHHBYFDA to hold workshop on breast cancer drug development
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06:33 EDTMCDMcDonald's turning off some diners due to increased prices, Bloomberg says
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October 20, 2014
15:36 EDTMCDNotable companies reporting before tomorrow's open
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13:57 EDTMCDMcDonald's October weekly volatility elevated into Q3 and outlook
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13:46 EDTMCDEarnings Preview: McDonald's sees 15c-20c hit to EPS from China supplier issues
McDonald's (MCD) is scheduled to report third quarter earnings before the open on Tuesday, October 21, with a conference call scheduled for 11:00 am ET. McDonald’s franchises and operates fast food restaurants globally.EXPECTATIONS: Analysts are looking for earnings per share of $1.38 on revenue of $7.19B, according to First Call. The consensus range for EPS is $1.31-$1.51 on revenue of $7.03B-$7.35B. LAST QUARTER: McDonald's reported second quarter EPS of $1.40 against estimates of $1.44 and revenue of $7.18B against estimates of $7.29B. McDonald's also reported global comparable sales relatively flat, with U.S. SSS down 1.5%, Europe SSS down 1% and Asia/Pacific, Mideast, Africa SSS up 1.1%. On its earnings conference call, the company forecast a 4c-5c negative impact on EPS from currency in 2014. The company said it did not anticipate any material changes to the operating environment in the second half of 2014, but said near-term results would likely remain "muted." NEWS: During the quarter, the company said it expected to return $18B-$20B to shareholders between 2014-2016 and that $3.2B year-to-date August had been returned. McDonald's also raised its quarterly dividend 5% to 85c per share. McDonald's said China supplier issues would negatively impact the quarter by 15c-20c largely due to a combination of lost sales, expenses associated with its recovery efforts and the impact of these items on the Q3 tax rate, which is expected to be above the company's outlook for the full-year tax rate of 31%-33%. McDonald's recently announced that Russia temporarily suspended nine of its restaurants in the country. STREET RESEARCH: UBS said its recent survey indicates McDonald's does not have a brand image issue, but rather an execution problem, which will need to be fixed to increase traffic. The firm has a Buy rating and $110 price target on shares. Morgan Stanley downgraded McDonald's to Equal Weight from Overweight due to weakening fundamentals combined with U.S. market share loss, and international pressures. Wells Fargo said McDonald's 5% dividend increase was below the Street's 7%-9% outlook and portends badly for the company's operating cash flow, willingness to increase leverage ratios and its capital intensity plans heading into 2015. PRICE ACTION: McDonald's shares are trading down almost 8% over the last three months and are near flat today ahead of the Q3 earnings report.
12:52 EDTMCDMcDonald's technical comments before results
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12:37 EDTRHHBYOn The Fly: Midday Wrap
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07:19 EDTRHHBYIBC Life Sciences to hold a conference
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07:11 EDTRHHBYAmerican Society for Reproductive Medicine to hold annual meeting
2014 Annual Meeting of ASRM is being held in Honolulu on October 18-22.
07:10 EDTRHHBYAmerican Society of Human Genetics to hold annual meeting
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07:06 EDTRHHBYNewLink announces worldwide license agreement for NLG919 development
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07:04 EDTRHHBYRoche approval would be positive for TESARO, says Jefferies
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06:38 EDTATHNathenahealth price target lowered to $115 from $140 at RBC Capital
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October 19, 2014
18:11 EDTMCDRussia temporarily suspends nine McDonald's restaurants in the country
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16:28 EDTSYTSyngenta faces more lawsuits over genetically engineered corn seeds, WSJ says
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October 17, 2014
10:00 EDTTSMOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AK Steel (AKS) upgraded to Buy from Neutral at Nomura... AMD (AMD) upgraded to Sector Perform from Underperform at Pacific Crest... Atlantic Power (AT) upgraded to Market Perform from Underperform at BMO Capital... Basic Energy (BAS) upgraded to Outperform from Market Perform at Cowen... BorgWarner (BWA) upgraded to Buy from Hold at Deutsche Bank... CA Technologies (CA) upgraded to Overweight from Equal Weight at Barclays... Calumet Specialty Products (CLMT) upgraded to Outperform at Wells Fargo... DHT Holdings (DHT) upgraded to Buy from Hold at Evercore... Exelon (EXC) upgraded to Neutral from Sell at Citigroup... Fifth Third Bancorp (FITB) upgraded to Buy from Neutral at Citigroup... Goldman Sachs (GS) upgraded to Outperform from Market Perform at Keefe Bruyette... Helmerich & Payne (HP) upgraded to Buy from Neutral at UBS... Hilton (HLT) upgraded to Buy from Neutral at SunTrust... Hyatt Hotels (H) upgraded to Outperform from Neutral at Macquarie... IPG Photonics (IPGP) upgraded at Stifel... ITC Holdings (ITC) upgraded to Neutral from Underperform at Credit Suisse... Manpower (MAN) upgraded to Outperform from Market Perform at Avondale... Nabors Industries (NBR) upgraded to Outperform from Market Perform at Cowen... Newpark Resources (NR) upgraded at Cowen... Old Dominion (ODFL) upgraded to Buy from Neutral at Longbow... PDC Energy (PDCE) upgraded at SunTrust... Patterson-UTI (PTEN) upgraded to Buy from Neutral at UBS... PrivateBancorp (PVTB) upgraded to Outperform from Neutral at Macquarie... QLogic (QLGC) upgraded to Buy from Hold at Summit Research... RPC, Inc. (RES) upgraded at Cowen... Sonoco (SON) upgraded to Neutral from Underperform at DA Davidson... Southwestern Energy (SWN) upgraded to Outperform from Market Perform at Raymond James... SunEdison (SUNE) upgraded to Outperform at Cowen... TSMC (TSM) upgraded to Buy from Neutral at Mizuho... Tesco (TESO) upgraded to Outperform from Market Perform at Cowen... UnitedHealth (UNH) upgraded to Outperform from Market Perform at Leerink... Xilinx (XLNX) upgraded to Outperform from Market Perform at Wells Fargo.
09:17 EDTATHNOn The Fly: Pre-market Movers
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08:05 EDTATHNathenahealth reports Q3 adjusted EPS 27c, consensus 27c
athenahealth last night reported Q3 revenue $190.4M, consensus $190.4M. The company reported it grew net new active physicians on athenaCollector, which had 3,420 physicians added, athenaClinicals, which had 2,786 physicians added, and athenaCommunicator, which had 3,846 physicians added, for the three months ended September 30.
07:59 EDTTSMTSMC upgraded to Buy from Neutral at Mizuho
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06:26 EDTTSMTSMC to start production of 16nm process products in 2Q15, DigiTimes says
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October 16, 2014
18:36 EDTATHNOn The Fly: After Hours Movers
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16:07 EDTATHNathenahealth now sees FY14 EPS near high end of range
athenahealth said, "We are not making any changes to the fiscal year 2014 guidance...However, based on our year-to-date performance and current expectations for Q4 2014, we are providing additional insight into our fiscal year 2014 guidance as follows: "We expect GAAP Total Revenue to be at or above the mid-point of the $725M-$755M guidance range. We expect Non-GAAP Adjusted Gross Margin to be close to the mid-point of the 62.5% to 63.5% guidance range. We expect Non-GAAP Adjusted Net Income per Diluted share to be close to the high end of the 98c-$1.10 guidance range."
16:05 EDTATHNathenahealth sees FY14 adjusted EPS 98c-$1.10, consensus $1.09
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14:47 EDTRHHBYRoche in pact with Pharmacyclics to evaluate Imbruvica, Gazyva combo
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14:13 EDTSYTU.S farmers use less fertilizer this autumn as crop prices fade, Reuters says
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13:13 EDTRHHBYRoche considers submitting Ebola test for emergency use approval, WSJ says
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12:54 EDTTSMTSMC upgraded to Overweight from Neutral at HSBC
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11:15 EDTTSMHigh option volume stocks
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09:35 EDTRHHBYDiplomat announces contract to distribute Esbriet
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06:21 EDTMCDMcDonald's rehires former U.S. executive, WSJ reports
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05:58 EDTRHHBYRoche sees FY14 core EPS targeted to grow ahead of sales
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05:56 EDTRHHBYRoche reports 9 month revenue CHF34.76B vs. CHF34.87B last year
Roche CEO Severin Schwan said: “Demand for our products is strong in both divisions and we are well on track to reach our full-year targets. We have had positive news from our product pipeline, including study results for Perjeta in breast cancer and a new combination therapy with Zelboraf in melanoma. The InterMune acquisition has also strengthened our portfolio with a new medicine, Esbriet for idiopathic pulmonary fibrosis, which has now been approved by the FDA. In Diagnostics, growth continues to be driven by the immunodiagnostics business and we have strengthened our molecular diagnostics portfolio with a new generation of testing systems.”
October 15, 2014
15:45 EDTRHHBYFDA approves Esbriet to treat idiopathic pulmonary fibrosis
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13:52 EDTAETAetna will not renew contract for Delaware Medicaid program
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06:28 EDTTSMTSMC lands CPU orders for Apple's next-generation iPad, DigiTimes reports
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October 14, 2014
11:23 EDTRHHBYBIND Therapeutics and The Conference Forum hold a conference
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07:25 EDTTSMTSMC short trade should be revisited, says Susquehanna
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06:29 EDTTSMTSMC and rivals racing to pack computer power in each chip, WSJ says
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October 13, 2014
14:06 EDTMCDMcDonald's to answer questions about food, AP reports
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06:32 EDTMPELMelco Crown shares could rally $10 on Osaka win, says Citigroup
Citigroup estimates shares of Melco Crown could rally up to $10 should the company win a gaming license in Osaka, Japan. Citi expects the gaming bill in Japan to be passed in November, and notes Melco is a major candidate in Osaka. The firm believes the upcoming opening of City of Dreams Manila will be a "game changer" to the Philippines gaming market. It lowered its price target for shares to $43 from $46 and keeps a Buy rating on the name.
October 10, 2014
12:05 EDTSYTUSDA raises U.S. corn production estimate to 14.475B
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