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Stock Market & Financial Investment News

News Breaks
November 20, 2012
10:00 EDTMRK, WFM, PNR, EXPE, AKS, IHG, SIVB, PENN, ADM, GMCR, ZIP, RIMM, JOY, AXLOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AK Steel (AKS) upgraded to Neutral from Sell at Goldman... American Axle (AXL) upgraded to Hold from Underperform at Jefferies... Archer Daniels (ADM) upgraded to Outperform from Market Perform at BMO Capital... Expedia (EXPE) upgraded to Equal Weight from Underweight at Barclays... Joy Global (JOY) upgraded to Market Perform from Underperform at BMO Capital... Penn National (PENN) upgraded to Neutral from Sell at Goldman... Pentair (PNR) upgraded to Outperform from Neutral at RW Baird... Research in Motion (RIMM) upgraded to Hold from Underperform at Jefferies... SVB Financial (SIVB) upgraded to Buy from Neutral at Citigroup... Whole Foods (WFM) upgraded to Buy from Neutral at Goldman... Zipcar (ZIP) upgraded to Buy from Neutral at Goldman... Intercontinental Hotels (IHG) upgraded to Overweight from Equal Weight at Barclays... Merck (MRK) upgraded to Buy from Neutral at MKM Partners... Green Mountain (GMCR) upgraded to Buy from Neutral at SunTrust.
News For AKS;AXL;ADM;EXPE;JOY;PENN;PNR;RIMM;SIVB;WFM;ZIP;IHG;MRK;GMCR From The Last 14 Days
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January 26, 2016
16:20 EDTJOYOn The Fly: Top stock stories for Tuesday
Stocks began Tuesday in positive territory, once again trading in tandem with oil prices. The Dow led today's gains thanks in part to earnings reports from 3M (MMM), Proctor & Gamble (PG) and Johnson & Johnson (JNJ), though the Nasdaq struggled early in the day. Following a better than expected reading on consumer confidence and a rip in oil prices, stocks continued to pile on gains in the afternoon, with the major indexes all going out near their highs. ECONOMIC EVENTS: In the U.S., 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. In Asia, Japan's Nikkei index fell 2.35% while China's Shanghai composite slid 6.4%. COMPANY NEWS: Earnings season accelerated Tuesday as major members of the bluechip Dow Jones Industrial Average posted results before the opening bell. 3M lead the pack with a gain of 5.16% to $144.79, while Johnson & Johnson, Procter & Gamble and DuPont (DD) added 4.86%, 2.55% and 0.89%, respectively, following their reports... 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. MAJOR MOVERS: Among the notable gainers was Terex (TEX), which surged 36.5% to $20.48 after receiving a $30 per share acquisition offer from China's Zoomlion. Terex peers Manitowoc (MTW), Joy Global (JOY) and Oshkosh (OSK) also saw respective gains of 16%, 9.5% and 5.5% after the news. In other M&A news, FirstMerit (FMER) jumped 18.35% after a merger agreement with Huntington Bancshares (HBAN). Also higher was Weight Watchers (WTW), which rose nearly 20% to $13.32 after noted shareholder and partner Oprah Winfrey tweeted a video detailing her progress and weight loss using the company's program. In addition, Sprint (S) soared 18.65% to $2.99 after reporting losses for the quarter that were not as steep as expected and raising its fiscal year EBITDA forecast. Among the noteworthy losers was Leidos (LDOS), which declined 9% to $48.83 after reaching an agreement with Lockheed Martin (LMT) to combine with the company's realigned Information Systems & Global Solutions unit in a Reverse Morris Trust transaction. Also lower was Centene (CNC), which lost 2.26% to $59.99 after revealing it has potentially misplaced six hard drives containing personal data on nearly 1M individuals. Meanwhile, Polaris (PII) dipped 9.15% to $72.99 after its fourth quarter report. INDEXES: The Dow rose 282.01, or 1.78%, to 16,167.23, the Nasdaq gained 49.18, or 1.09%, to 4,567.67, and the S&P 500 advanced 26.55, or 1.41%, to 1,903.63.
13:17 EDTJOYJoy Global calls active after Terex receives takeover proposal from Zoomlion
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13:14 EDTJOYJoy Global up 12% after Terex receives takeover proposal from Zoomlion
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11:33 EDTAKSAK Steel sees Q1 shipments declining modestly
Sees Q1 average selling price similar to Q4.
11:32 EDTAKSAK Steel sees 2016 CapEx $120M-$140M
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11:12 EDTAKSAK Steel says increasing capacity for electrical steel
11:11 EDTAKSAK Steel says Q4 automotive shipments 58% of total
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11:07 EDTAKSAK Steel says still facing significant 'import pressure'
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10:48 EDTGMCRTreeHouse may benefit from strategy shifts, says Detwiler Fenton
Detwiler Fenton said TreeHouse (THS) may benefit from Keurig Green Mountain's (GMCR) and Starbucks' (SBUX) focust shift into new products. Keurig Green Mountain dropping of its private-label business opens the door for TreeHouse to take market share, the firm's analyst said. Detwiler sees TreeHouse benefiting from Starbucks' shifts away from Keurig Green Mountain and into other product opportunities.
10:32 EDTGMCROptions with increasing implied volatility: CLDX SNDK GMCR RAD
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08:33 EDTAKSAK Steel reports Q4 shipments of 1.66M tons
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08:32 EDTAKSAK Steel reports Q4 adjusted EPS 30c, consensus 1c
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January 25, 2016
11:18 EDTJOYGoldman says sell Caterpillar with more pain to come from commodity slump
The shares of Caterpillar (CAT) are dropping after Goldman Sachs downgraded the stock to Sell from Neutral. Demand for machinery will probably drop as commodity producers continue to lower their capital expenditures going forward, the firm believes. WHAT'S NEW: Commodity producers are likely to reduce their capital spending, including their expenditures on machinery, according to Goldman analyst Jerry Revich. These trends will be driven by the producers' "challenging returns" and weak balance sheets, he believes. The commodity producers' slump will affect Caterpillar in two ways, the analyst explained. Specifically, 30% of Caterpillar's revenue is derived from commodity producers, while it obtains 25% of its revenue from countries that export commodities, where overall demand for machinery will probably fall, explained Revich. Moreover, although analysts' consensus estimates indicate that they expect Caterpillar's profit to bottom this year, capital spending in Caterpillar's main end markets appears to be above average levels, said Revich, who expects the company's 2017 EPS to come in 15% below the consensus outlook. The analyst cut his price target on the shares to $51 from $67. PRICE ACTION: In morning trading, Caterpillar dropped 4% to $58.54. Other machinery makers also declined, with Deere (DE) falling 2.8% to $72.54, AGCO Corporation (AGCO) slumping 3.6% to $44.28 and Joy Global (JOY) giving back 3.2% to $8.73.
10:00 EDTEXPEOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 8x8, Inc. (EGHT) initiated with a Buy at Summit Research... ARI Network (ARIS) initiated with an Outperform at Barrington... Alcobra (ADHD) initiated with an Outperform at Oppenheimer... CNO Financial (CNO) initiated with a Hold at Deutsche Bank... Expedia (EXPE) initiated with an Outperform at Wells Fargo... Gartner (IT) initiated with an Overweight at Atlantic Equities... MAG Silver (MVG) initiated with a Buy at Roth Capital... Mitek Systems (MITK) initiated with an Outperform at Northland... Priceline (PCLN) initiated with a Market Perform at Wells Fargo... QTS Realty Trust (QTS) initiated with a Buy at SunTrust... Seres Therapeutics (MCRB) initiated with a Buy at H.C. Wainwright.
10:00 EDTWFMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Eagle (AEO) downgraded to Hold from Buy at BB&T... American Express (AXP) downgraded on weak revenue outlook at Argus... Bristol-Myers (BMY) downgraded to Market Perform from Outperform at BMO Capital... Caterpillar (CAT) downgraded to Sell from Neutral at Goldman... Crestwood Equity (CEQP) downgraded to Neutral on potential distribution cut at Baird... Cummins (CMI) downgraded to Neutral from Buy at Citi... Federal Realty (FRT) downgraded to Hold from Buy at Evercore ISI... GKN PLC (GKNLY) downgraded to Neutral from Outperform at Credit Suisse... Galapagos NV (GLPG) downgraded to Neutral from Buy at GoldmanvHortonworks (HDP) downgraded to Perform from Outperform at Oppenheimer... International Flavors (IFF) downgraded on headwinds at Stifel... International Paper (IP) downgraded to Neutral from Buy at Citi... JPMorgan (JPM) downgraded to Neutral from Buy at Nomura... KapStone (KS) downgraded to Underperform from Neutral at Macquarie... Mosaic (MOS) downgraded to Neutral from Overweight at JPMorgan... NetSuite (N) downgraded to Equal Weight from Overweight at Stephens... ONEOK Partners (OKS) downgraded to Neutral at Baird... OvaScience (OVAS) downgraded to Perform from Outperform at Oppenheimer... Packaging Corp. (PKG) downgraded to Neutral from Buy at Citi... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... Power Solutions (PSIX) downgraded to Neutral from Overweight at Piper Jaffray... Raymond James (RJF) downgraded to Neutral from Buy at Nomura... Regeneron (REGN) downgraded to Sell from Neutral at Chardan... SanDisk (SNDK) downgraded to Underperform from Outperform at CLSA... Toll Brothers (TOL) downgraded to Market Perform from Outperform at JMP Securities... Twitter (TWTR) downgraded to Hold from Buy at Stifel... WPX Energy (WPX) downgraded to Sector Perform from Outperform at Iberia... WestRock (WRK) downgraded to Neutral from Buy at BofA/Merrill... Whole Foods (WFM) downgraded to Underperform from Market Perform at BMO Capital... Zurich Insurance (ZURVY) downgraded to Neutral from Outperform at Exane BNP Paribas.
09:10 EDTWFMWhole Foods trades lower in pre-market
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09:03 EDTMRKOn The Fly: Pre-market Movers
HIGHER: Tyco (TYC) and Johnson Controls (JCI), up 9% and 1%, respectively, after announcing a definitive merger agreement. Johnson Controls shareholders will own approximately 56% of the equity of the combined company, while current Tyco shareholders will own approximately 44%... SunEdison (SUNE), up 10% after the Wall Street Journal reported that the company is set to give David Einhorn's Greenlight Capital a seat on its board... Affimed Therapeutics (AFMD), up 26% after entering a clinical research collaboration in immuno-oncology with Merck (MRK). UP AFTER EARNINGS: McDonald's (MCD), up 3%... LOWER: Twitter (TWTR), down 5% after its CEO Jack Dorsey confirmed in a tweet last night that several executives are departing the company. Media reports also indicate that, as part of its shake-up, Twitter intends to bring in two new members to its board as soon as this week... OncoMed (OMED), down 38% after an independent data safety monitoring board remarked on several findings regarding futility of the company's Phase 2 ALPINE clinical trial... Medivation (MDVN), down 7% after FDA places investigational new drug application for MDV9300 on partial clinical hold... International Paper (IP), down 4.8%, Packaging Corp. (PKG), down 4.8%, WestRock (WRK), down 6%, after Pulp & Paper Week reduced January kraftliner and corrugated medium prices... Caterpillar (CAT), down 4% after Goldman cuts rating to sell... Regeneron (REGN), down 3% after downgraded at Chardan to sell. DOWN AFTER EARNINGS: Kimberly-Clark (KMB), down 2.5%.
08:08 EDTEXPEExpedia initiated with an Outperform at Wells Fargo
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06:09 EDTWFMWhole Foods downgraded to Underperform from Market Perform at BMO Capital
05:19 EDTMRKAffimed Therapeutics enters into collaboration with Merck
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