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Stock Market & Financial Investment News

News Breaks
June 16, 2014
10:10 EDTWMB, WPZ, SSRI, MOFG, LECO, DLR, CAB, PGR, MU, EXH, DISH, AKS, SXE, NMBL, MDT, EVHC, CNPOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AK Steel (AKS) upgraded at BofA/Merrill... Cabela's (CAB) upgraded to Buy from Hold at Feltl... CenterPoint Energy (CNP) upgraded to Outperform from Market Perform at BMO Capital... DISH (DISH) upgraded to Overweight from Neutral at JPMorgan... Digital Realty (DLR) upgraded to Buy from Hold at Jefferies... Envision Healthcare (EVHC) upgraded to Conviction Buy from Neutral at Goldman... Exterran (EXH) upgraded to Outperform from Sector Perform at Howard Weil... Lincoln Electric (LECO) upgraded to Buy from Hold at BB&T... Medtronic (MDT) upgraded to Overweight from Neutral at JPMorgan... Micron (MU) upgraded to Outperform from Neutral at RW Baird... MidWestOne (MOFG) upgraded at Raymond James... Nimble Storage (NMBL) upgraded to Outperform from Neutral at Macquarie... Progressive (PGR) upgraded to Hold from Sell at Deutsche Bank... Silver Standard (SSRI) upgraded to Hold from Sell at Deutsche Bank... Southcross Energy Partners (SXE) upgraded to Neutral from Sell at Goldman... Williams Partners (WPZ) upgraded to Buy from Hold at Tudor Pickering... Williams (WMB) upgraded to Buy from Hold at Jefferies.
News For AKS;CAB;CNP;DISH;DLR;EVHC;EXH;LECO;MDT;MU;MOFG;NMBL;PGR;SSRI;SXE;WPZ;WMB From The Last 14 Days
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May 21, 2015
16:08 EDTMUMicron initiated with a Buy at Mizuho
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11:39 EDTNMBLNetApp hits 52-week low after results, outlook miss expectations
Shares of storage company NetApp (NTAP) are falling after the company’s fourth quarter results and first quarter outlook significantly trailed analysts’ consensus estimates. WHAT'S NEW: Yesterday, NetApp reported Q4 adjusted earnings per share of 65c and revenue of $1.54B, trailing analysts’ consensus estimates of 72c and $1.59B, respectively. The company raised its quarterly dividend 9% to 18c per share. It also announced a “realignment” that will be implemented through the end of 3Q16. As part of the realignment, NetApp expects to reduce worldwide headcount by approximately 500 employees. The company expects to incur aggregate charges of approximately $25M-$35M for employee terminations and other costs associated with the realignment. WHAT’S NOTABLE: Looking ahead to Q1, NetApp forecast adjusted EPS of 20c-25c and revenue of $1.275B-$1.375B, well below the consensus of 60c and $1.46B, respectively. On the company’s conference call, management said it sees a return to a growth trajectory in second half of FY16. OEM revenue ended at less than 10% of FY15 net revenues and normalized to a level of revenue that the company will no longer discuss separately, management stated, adding that the company is well positioned for the era of cloud computing. They expect to reduce the company’s share count by another 5%, and see operating margins back in range in the second half of the year. ANALYST REACTION: This morning, JP Morgan, Cantor, Summit Research and Needham all downgraded NetApp following its Q4 report. JPMorgan went to Underweight on NetApp, citing the "tough" Cluster ONTAP product transition after the company's Q1 revenue guidance missed expectations. The firm cut its price target for shares to $29 from $35. Cantor Fitzgerald's Brian White downgraded NetApp to Hold from Buy, citing execution issues with the product transition and secular challenges for the storage market, and cut his price target for shares to $35 from $43. Last night marked the seventh time in eight quarters that NetApp missed estimates, Summit Research noted. PRICE ACTION: In late morning trading, NetApp fell $4.17, or about 12%, to $31.16 on nearly four times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $30.90. Including today's pull back, the shares have lost approximately 10% over the past 12 months. OTHERS TO WATCH: Other companies in the in the storage space include EMC Corporation (EMC), Dot Hill Systems (HILL) and Nimble Storage (NMBL).
10:15 EDTDISHDISH Sling TV releases app for Android TV
DISH (DISH) confirmed that Sling TV launched its Android TV application for Google’s (GOOG) Nexus Player, available for immediate download in the Google Play Store. New customers can purchase a Nexus Player at a 50% discount when they pre-pay for three months of Sling TV or customers can choose to sample Sling TV on their Nexus Player for seven days at no cost, DISH added.
10:04 EDTDISHDISH bringing Sling TV to Android TV platform, TechCrunch reports
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May 20, 2015
16:00 EDTMUOptions Update; May 20, 2015
iPath S&P 500 VIX Short-Term Futures up 3c to 19.19. Option volume leaders: AAPL AAL YHOO DAL FB BABA UAL BAC TWTR LUV C TSLA GE MU
13:37 EDTNMBLEarnings Watch: Analysts concerned with competition hurting NetApp results
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12:35 EDTAKSAK Steel to pay $1.35M and implement air pollution controls at Michigan facility
The U.S. Department of Justice, the Environmental Protection Agency, and the Michigan Department of Environmental Quality announced that, under a settlement agreement with the U.S. and the state of Michigan, AK Steel will pay a civil penalty of $1.35M for past violations of the Clean Air Act at its Dearborn, Michigan facility, implement a variety of procedures to reduce future violations and install dynamic air filtration systems at the Salina Elementary and Salina Intermediate Schools across Ferney Street from the plant. The consent decree will require AK Steel to develop an environmental management system for the facility with third-party auditing every six months, annually inspect and continuously monitor the performance of the pollution control equipment at the facility’s basic oxygen furnace and implement a fugitive dust control policy to prevent large particulate emissions into the adjacent neighborhoods. Upon full implementation of the consent decree requirements, particulate matter emissions, including metal hazardous air pollutants, should be reduced by approximately 100 tons per year. The settlement was lodged with the U.S. District Court for the Eastern District of Michigan and is subject to a 30-day public comment period and final court approval. Reference Link
12:19 EDTPGRProgressive earnings better than expected in April, says Wells Fargo
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09:34 EDTMDTMedtronic announces new data for drug-coated balloon
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09:10 EDTPGRProgressive reports April net premiums written up 10% to $2.06B
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07:36 EDTMUMicron estimates, target lowered on PC weakness at Deutsche Bank
Deutsche Bank lowered estimates for Micron after its channel checks indicated DRAM price negotiations "remain challenging" in May given amid soft PC demand. The firm, however, believes PC demand will strengthen starting in July driven by seasonality and the launch of Windows 10. It thinks this will be the last cut to estimates and maintains a Buy rating on Micron. It lowered its price target for shares to $32 from $34.
07:16 EDTMDTLeerink to hold a booth tour at EuroPCR
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May 19, 2015
08:40 EDTMDTMedtronic sees FY15 revenue $20.3B, may not compare to consensus $28.15B
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08:40 EDTMDTMedtronic sees Q4 adjusted EPS at upper half of $1.08-1.13, consensus $1.10
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06:18 EDTDISHDish says followed all rules in bidding strategy for spectrum auction, WSJ says
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May 18, 2015
16:00 EDTMUOptions Update; May 18, 2015
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10:57 EDTMUMicron May weekly calls active
Micron May weekly 26.5 and 27 weekly calls are active on total call volume of 35K contracts (3K puts). May weekly call option implied volatility is at 36, June is at 32, July is at 34; compared to its 90-day average of 35, active call volume suggests traders taking positions for large near term price movement.
10:32 EDTMUMicron management to meet with JMP Securities
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09:49 EDTDISHEquity options with increasing volume
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09:27 EDTMDTMedtronic announces study results showing CRT system optimizes treatment
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