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Stock Market & Financial Investment News

News Breaks
November 20, 2012
10:00 EDTAKS, MRK, IHG, ZIP, WFM, SIVB, RIMM, PNR, PENN, JOY, EXPE, ADM, AXL, GMCROn 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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September 4, 2014
14:23 EDTADMArcher Daniels initiated with a Buy at Janney Capital
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14:23 EDTWFMWhole Foods initiated with a Neutral at Janney Capital
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11:34 EDTJOYJoy Global sees 'tepid' environment as commodity prices pressured
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11:21 EDTJOYJoy Global says iron ore prices under pressure from Australia supply
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09:06 EDTJOYOn The Fly: Pre-market Movers
UP AFTER EARNINGS: PVH Corp. (PVH), up 9%... Verifone (PAY), up 3.8%... Methode Electronics (MEI), up 13%... Bazaarvoice (BV), up 9%. ALSO HIGHER: Bolt Technology (BOLT), up 35.7% after Teledyne (TDY) agrees to acquire the company for $22 per share in cash... Mitek Systems (MITK), up 58% after USAA lawsuit settlement... Tibco Software (TIBX), up 7% after announcing that it is reviewing strategic alternatives... Stereotaxis (STXS), up 22% after receiving FDA clearance for Vdrive with V-Loop system... NewLink (NLNK), up 3.4% after reporting FDA approval for Phase 1 clinical studies of Ebola vaccine. DOWN AFTER EARNINGS: Ciena (CIEN), down 3%... Joy Global (JOY), down 1%... Matrix Service (MTRX), down 11%... Mobileye (MBLY), down 1.3%. ALSO LOWER: Yum! Brands (YUM), down 2.8% after updating third quarter China division same-store sales guidance... 3D Systems (DDD), down 2.9% after downgraded at Pacific Crest... GoPro (GPRO), down 3.5% after downgraded at JPMorgan... Shanda Games (GAME), down 4% after announcing reconstitution of special committee.
09:02 EDTMRKMerck's relebactam granted QIDP, fast track designations by FDA
Merck announced that the U.S. Food and Drug Administration has designated relebactam -- previously known as MK-7655 -- the company’s investigational beta-lactamase inhibitor, as a Qualified Infectious Disease Product with designated Fast Track status. The QIDP and Fast Track designations apply to intravenous use of relebactam for the treatment of complicated urinary tract infections, complicated intra-abdominal infections and hospital-acquired bacterial pneumonia/ventilator-associated bacterial pneumonia. Relebactam is an investigational, class A and C, beta-lactamase inhibitor that is being evaluated in combination with imipenem/cilastatin in ongoing Phase 2 clinical trials for the treatment of complicated urinary tract infections and complicated intra-abdominal infections. In preclinical studies, relebactam administered in combination with imipenem/cilastatin demonstrated antibacterial activity against a broad range of Gram-negative and beta-lactam-resistant pathogens. Merck plans to initiate Phase 3 studies with relebactam in combination with imipenem/cilastatin in 2015.
07:21 EDTMRKMedidata can obtain major new platform customers, says Stifel
Noting that Medidata (MDSO) partners with Veeva, Stifel believes that a number of Veeva (VEEV) customers could become Medidata platform customers, especially if they already use Medidata for R&D and clinical trial solutions. The firm identifies Merck (MRK), Gilead (GILD), and Teva (TEVA) as companies that may become platform clients for Medidata. Stifel keeps a $55 price target and Buy rating on Medidata.
07:18 EDTEXPEACCC cites competition concerns about Expedia proposed acquisition of Wotif
The Australian Competition and Consumer Commission has released a Statement of Issues outlining competition issues that have arisen to date from the ACCC’s review of the proposed acquisition of Wotif.com Holdings by Expedia. The ACCC is exploring whether the removal of Wotif from the Australian market has the potential to increase the rate of commissions charged to hotels and other accommodation providers in Australia. The ACCC’s preliminary view is that bricks and mortar travel agents are unlikely to be a strong constraint on the operations of OTAs and therefore do not form part of the relevant market. “The ACCC is seeking further information to determine whether the proposed acquisition is likely to substantially lessen competition in the market for the online distribution of Australian accommodation,” ACCC Chairman Rod Sims said. Reference Link
06:07 EDTJOYJoy Global sees signs that trough in market has been set
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06:06 EDTJOYJoy Global narrows FY14 EPS to $3.15-$3.30 from $3.10-$3.50, consensus $3.22
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06:04 EDTJOYJoy Global: Geographic, geopolitical issues weigh on 2014 growth profile
The company said, "Eurozone growth has improved, but is inconsistent across the region and faces headwinds from weak inflation and the ongoing events in the Ukraine. Chinese growth, while improving to 7.5% during the second quarter, remains largely dependent on stimulus efforts and faces challenges in the housing market. Despite headwinds, global growth is set to improve in 2015 and should drive increased demand for commodities. The U.S. thermal coal market continues to face challenging conditions despite 4 percent economic growth in the U.S. during the second quarter... China’s domestic coal market continues to face challenges with first half production falling 2 percent and prices down 25 percent year-to-date."
06:03 EDTJOYJoy Global reports Q3 bookings up 33% to $923M; Q3 service bookings $639M
CEO Ted Doheny said, "We continue to see stability in our core service business and have achieved another quarter of solid cash generation which enabled further progress on our share repurchase program. Additionally, we are encouraged about the recent acquisition of Mining Technologies International and product development projects that position the company for long-term growth in underground hard rock mining. Overall, we executed according to plan in the third quarter and took several positive steps to advance our business strategy."
06:02 EDTJOYJoy Global reports Q3 adjusted EPS 80c, consensus 84c
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September 3, 2014
17:25 EDTMRKMerck management to meet with SunTrust
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15:37 EDTJOYJoy Global September weekly 62.5 straddle priced for 3.7% move into Q3
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15:29 EDTJOYNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Joy Global (JOY), consensus 84c; VeriFone Systems (PAY), consensus 35c; Ciena (CIEN), consensus 29c; Mattress Firm (MFRM), consensus 60c; Methode Electronics (MEI), consensus 40c; UTi Worldwide (UTIW), consensus 1c.
14:09 EDTJOYJoy Global technical comments ahead of results
In the prior three months the stock has outperformed the indexes, trading up over 7.8%. The trading range in that interval has been volatile, with price bound by $58 at the low at $65 at the high. The high of the range is close to the 52-week high at $65.36. The $65 area has only briefly been broken to the upside in the prior two years. If the news or outlook is more strongly bullish than expected, there could be an opportunity for a price breakout. First resistance of importance in that event would be at the 2-year high at $69.19. Thereafter resistance would be at $72.59, a pivot low from late 2011. If the news is worse than forecast, then the low of the trading range at $58 could be tested. Depending on the degree of disappointment, next supports below would be at $56.81 and $54.83. There is a large short-base in the name at over 15% of the float short, but that is a low relative to the last three months. In the event of strongly bullish news, it could provide fuel for a short-covering rally that could make price reactions stronger than average.
09:01 EDTGMCRKeurig Green Mountain, Coca-Cola expand agreement to Keurig hot brewing system
Keurig Green Mountain (GMCR) and The Coca Cola Company (KO) have expanded the companies’ innovative partnership to offer select beverages from the portfolio of The Coca Cola Company’s still brands in the Keurig hot brewing system in the United States and Canada. Honest Tea will be the first brand from The Coca Cola Company available in K-Cup® packs. In February 2014, the companies signed a 10-year agreement to collaborate on the development and introduction of The Coca Cola Company's global brand portfolio for use in Keurig’s forthcoming Keurig Cold™ at-home beverage system, available in Keurig’s fiscal year 2015. As part of that agreement Coca-Cola acquired a 10% minority equity position in Keurig and subsequently announced its intention to increase its stake up to 16%.
08:51 EDTAKSU.S. Steel Steel Dynamics at Morgan Stanley
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08:40 EDTAKSAK Steel sees Q3 5c-10c, may not compare to consensus of 26c
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