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March 4, 2013
10:11 EDTTEF, LXK, DF, CLD, MCHP, YHOO, RWT, DRH, DPM, AMAG, NUE, X, RDN, FTE, WTR, SCHW, VNOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AMAG Pharmaceuticals (AMAG) upgraded to Neutral from Underweight at JPMorgan... Aqua America (WTR) upgraded to Overweight from Neutral at HSBC... Cloud Peak Energy (CLD) upgraded to Buy from Neutral at Goldman... DCP Midstream (DPM) upgraded to Outperform from Market Perform at Wells Fargo... Dean Foods (DF) upgraded to Buy from Hold at KeyBanc... DiamondRock (DRH) upgraded to Sector Perform from Underperform at RBC Capital... France Telecom (FTE) upgraded to Overweight from Underweight at Morgan Stanley... Lexmark (LXK) upgraded to Equal Weight from Underweight at Barclays... Merck (MRK) upgraded to Buy from Neutral at BofA/Merrill... Radian Group (RDN) upgraded to Outperform from Market Perform at Keefe Bruyette... Redwood Trust (RWT) upgraded to Outperform from Market Perform at JMP Securities... Telefonica (TEF) upgraded to Overweight from Neutral at JPMorgan... Vornado (VNO) upgraded to Neutral from Cautious at ISI Group... Yahoo! (YHOO) upgraded to Overweight from Equal Weight at Barclays... New Gold (NGD) upgraded to Buy from Hold at TD Securities... U.S. Steel (X) upgraded to Neutral from Underperform at Longbow... Nucor (NUE) upgraded to Buy from Neutral at Longbow... Intersil (ISIL) upgraded to Cautious from Sell at ISI Group... Microchip (MCHP) upgraded to Strong Buy from Buy at ISI Group... Telefonica (TEF) upgraded at JPMorgan... Merck (MRK) upgraded at BofA/Merrill... AMAG Pharmaceuticals (AMAG) upgraded at JPMorgan... Charles Schwab (SCHW) upgraded to Outperform from Market Perform at Bernstein.
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August 28, 2015
09:16 EDTCLDMoody's downgrades Peabody to Caa1
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August 27, 2015
06:33 EDTYHOOYahoo announces Tumblr sharing tools at Mobile Developer Conference
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05:53 EDTMCHPIC demand for notebooks picking up, DigiTimes reports
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August 26, 2015
10:01 EDTLXKLexmark upgraded to Buy from Hold at Standpoint Research
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08:45 EDTMCHPSemiconductor stock risk/reward positive, says Citi
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August 25, 2015
06:13 EDTYHOOThird Point, FTC settle over antitrust filings for 2011 Yahoo stake
Three affiliated hedge fund companies and their management company, Third Point LLC, have agreed to settle Federal Trade Commission charges that they violated premerger reporting laws in connection with their 2011 acquisitions of stock in Yahoo! Inc. The complaint alleges that Third Point Partners Qualified L.P., Third Point Ultra, LTD, and Third Point Offshore Fund, LTD failed to observe the filing and waiting requirements of the Hart-Scott-Rodino Act before purchasing shares in Yahoo. According to the complaint, the three defendant funds claimed that they were exempt from reporting to the U.S. antitrust authorities because the purchases were made solely for investment purposes. At the time of the stock purchases, however, defendant Third Point LLC, which made investment decisions on behalf of the funds, was taking actions inconsistent with an investment-only intent, such as communicating with third parties to determine their interest in becoming the CEO or a board candidate of Yahoo. Under the terms of the proposed stipulated five-year federal court order, the defendants are prohibited from relying on the investment-only exemption if they have contacted third parties to gauge their interest in joining the board of the target company, communicated with the target company about proposed candidates for its board, or engaged in other specified conduct in the four months prior to acquiring voting securities above the HSR Act threshold. In this case, the agencies determined not to seek civil penalties based on several factors, including that the violation was inadvertent and short-lived, and this was the defendants' first violation of the HSR Act.
August 24, 2015
16:46 EDTCLDPresident Obama announces new renewable energy commitments
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14:06 EDTTEFTelefonica downgraded to Underperform from Neutral at Macquarie
10:32 EDTXU.S. Steel says acted to effectuate hard freeze of some benefits
In a regulatory filing from Friday evening, U.S. Steel disclosed that on August 17, United States Steel Corporation, acted to effectuate a hard freeze of benefits accrued under each of the following plans effective as of December 31, 2015: (i) the United States Steel Corporation Plan for Employee Pension Benefits and each provision, rule part, plan or program thereunder as applicable to non-union employees; (ii) the United States Steel Corporation Non Tax-Qualified Pension Plan; and (iii) the United States Steel Corporation Executive Management Supplemental Pension Program. As a result, from and after December 31 all benefit accruals under each Plan shall cease and no participant in any Plan will receive credit under the Plan for further service to the Corporation or its subsidiaries and the compensation levels resulting from any such further service will not be relevant to the determination of benefits payable under the Plans. The Non Tax-Qualified Plan and the Supplemental Plan provide benefits to Mr. Douglas Matthews, one of our Named Executive Officers. As described above, on August 1 , the Corporation enacted a hard freeze of benefits accrued under its DB Plan effective December 31. Participants of the DB Plan will be transitioned to a defined contribution retirement plan at that time. The Corporation will perform a remeasurement of the DB Plan, and will report these results in its quarterly report on Form 10-Q for the quarter ended September 30.
09:41 EDTSCHWCharles Schwab fined $2M by FNRA for net capital deficiencies
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09:18 EDTXOn The Fly: Pre-market Movers
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08:28 EDTMCHPMicrochip downgraded to Hold from Buy at Drexel Hamilton
Drexel Hamilton downgraded Microchip and lowered its price target to $40 from $48. The firm said reduced business confidence will likely result in continued weakness in orders and visibility
August 23, 2015
13:07 EDTXU.S. Steel shares could rally 60% to $28 by late 2016, Barron's says
Shares of U.S. Steel could rise more than 60% to $28 by the end of 2016 as steel prices increase, cost cutting measures take effect, and Chinese imports decline given an import tariff scheduled for November, Barron's contends in a feature article. Reference Link
August 21, 2015
09:42 EDTWTRAqua America sees FY15 EPS $1.25-$1.27, consensus $1.27
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08:26 EDTXU.S. Steel initiated with a Sell at Axiom
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August 20, 2015
10:00 EDTVNO, DRHOn The Fly: Analyst Upgrade Summary
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06:45 EDTDRHDiamondRock upgraded to Outperform from Neutral at Credit Suisse
Credit Suisse upgraded DiamondRock to Outperform and maintained its $15 price target. The firm upgraded shares largely based on relative valuation and said management has done a good job repositioning the portfolio.
06:44 EDTVNOVornado upgraded to Neutral from Underperform at Credit Suisse
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August 19, 2015
10:47 EDTRDNRadian Group management to meet with MKM Partners
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07:41 EDTYHOOYahoo price target lowered to $56 from $62 at Cantor
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