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Stock Market & Financial Investment News

News Breaks
March 19, 2014
10:17 EDTAGU, RPM, SUSS, MERU, HPTX, CGEN, AMC, SCSS, SHW, PPG, SU, IMO, EPGNY, CVE, TPX, VAL, TLM, RKUS, ITT, ECA, CTIC, BOFIOn The Fly: Analyst Initiation Summary
AMC Entertainment (AMC) initiated with an Equal Weight at Barclays... Canadian Natural (CNQ) initiated with an Outperformer at CIBC... Cell Therapeutics (CTIC) initiated with a Hold at WallachBeth... Cenovus Energy (CVE) initiated with a Sector Performer at CIBC... Compugen (CGEN) initiated with a Buy at Jefferies... Encana (ECA) initiated with a Sector Performer at CIBC... Epigenomics (EPGNY) initiated with a Buy at Maxim... Hyperion Therapeutics (HPTX) initiated with a Buy at Cantor... ITT Corp. (ITT) initiated with a Buy at SunTrust... Imperial Oil (IMO) initiated with a Sector Performer at CIBC... Mattress Firm (MFRM) initiated with a Buy at Jefferies... Meru Networks (MERU) initiated with a Buy at Mizuho... Ruckus Wireless (RKUS) initiated with a Buy at Mizuho... Suncor (SU) initiated with an Outperformer at CIBC... Susser Holdings (SUSS) initiated with a Hold at Jefferies... Talisman Energy (TLM) initiated with an Underperformer at CIBC... PPG Industries (PPG) coverage assumed with an Equal Weight at Morgan Stanley... RPM (RPM) coverage assumed with an Overweight at Morgan Stanley... Valspar (VAL) coverage assumed with an Underweight at Morgan Stanley... Sherwin-Williams (SHW) coverage assumed with an Overweight at Morgan Stanley... Agrium (AGU) coverage resumed with an Equal Weight at Morgan Stanley... Canadian Natural (CNQ) initiated with an Overweight at Morgan Stanley... Tempur Sealy (TPX) initiated with a Neutral at Nomura... Select Comfort (SCSS) initiated with a Neutral at Nomura... Mattress Firm (MFRM) initiated with a Buy at Nomura... Bofi Holding (BOFI) initiated with a Neutral at Sterne Agee.
News For AMC;CTIC;CVE;CGEN;ECA;EPGNY;HPTX;ITT;IMO;MERU;RKUS;SU;SUSS;TLM;PPG;RPM;VAL;SHW;AGU;TPX;SCSS;BOFI From The Last 14 Days
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July 27, 2015
05:22 EDTCTICCTI BioPharma appoints Bruce Seeley as Chief Commercial Officer
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July 24, 2015
15:06 EDTAMCEarnings Watch: TV networks report as streaming services gain ground
CBS (CBS), Time Warner (TWX), Viacom (VIA, VIAB), and 21st Century Fox (FOX, FOXA) are among TV network companies expected to report quarterly results over the next several weeks, with Comcast (CMCSA, CMCSK) already having reported before the open on July 23. EXPECTATIONS: Time Warner is expected to report EPS of $1.03 on revenue of $6.9B, CBS is expected to report EPS of 73c on revenue of $3.22B, Viacom is expected to report EPS of $1.47 on revenue of $3.22B, and 21st Century Fox is expected to report EPS of 37c on revenue of $6.48B. LAST QUARTER: CBS, Time Warner, and Fox all reported stronger than expected Q1 results, while Viacom reported higher than expected Q2 EPS but missed on revenue. THIS WEEK'S EARNINGS: On the morning of July 23, Comcast reported Q2 EPS of 84c in line with estimates, and revenue of $18.7B versus expectations for $18.14B. Cable customer relationships for the quarter were up 31,000 to 27.3M, driven by increases in double and triple product relationships. During a subsequent conference call, the company noted that TV viewership continues to be under pressure. NEWS: At Re/code's Code Conference on May 27, CBS CEO Leslie Moonves remarked that his network will "probably" sign up for Apple's (AAPL) rumored TV service, and on June 3, CBS announced that its Showtime network will be offered over the internet as a stand-alone streaming service launching in early July for a monthly price of $10.99, with Apple as its first partner. On July 1, Variety quoted sources as saying Viacom was attempting to entice advertisers by offering to construct social-media and digital extensions of traditional TV ad campaigns as the company seeks to move away from Nielsen-based advertising sales. On July 8, the Wall Street Journal reported that Viacom's Paramount Pictures reached an agreement with AMC (AMC) to accelerate the home release of movies, noting that the company hoped to implement the quickened schedule for all new releases beginning later in the year. On July 17, Re/code reported that Viacom held talks to acquire e-commerce and media company Thrillist Media, according to sources. On June 17, 21st Century Fox named James Murdoch as CEO, with founder and former chairman and CEO Rupert Murdoch appointed executive co-chairman alongside Lachlan Murdoch. The Telegraph reported on June 20 that Fox rejected offers for its stake in Sky (SKYAY) from Vodafone (VOD) and Vivendi (VIVHY), potentially signalling an interest in outright purchasing the rest of Sky, according to the report. More recently, the European Commission announced on July 23 that it delivered a statement of objections to Sky and various film studios owned by Comcast, Viacom, Fox, Time Warner, Disney (DIS), and Sony (SNE), discussing anti-trust concerns due to limitations on country-by-country availability of pay-TV services. STREET RESEARCH: On May 12, Pacific Crest said it believes Apple will launch its TV service before the end of the year, saying the move should benefit TV networks as well as Apple itself. On June 24, Brean Capital said Facebook's (FB) agreement with Time Warner to host premier episodes of certain upcoming shows was "a trend worth following," and possibly indicative of Facebook hosting additional TV content in the future. Also on June 24, FBR Capital contended that Netflix (NFLX) was on pace to have a larger 24-hour audience than all traditional broadcast networks, where ratings are seeing declines on average, according to the research firm. Those comments were followed by a July 10 note on Netflix from Morgan Stanley, saying the subscription streaming service was seeing higher time spent per day than any single broadcast network. Moving away from the Netflix factor, on July 10, JPMorgan said CBS shares looked "very attractive" following a recent selloff, though the company saw a downgrade on July 20 from Pivotal, which cited higher costs of capital among other factors. Finally, Citi upgraded Viacom on July 16 to Neutral, citing recent underperformance in the company's shares heading into earnings season.
06:09 EDTECAEncana on track to deliver FY15 cash flow guidance of $1.4B-$1.6B
Encana remains on track to deliver its 2015 cash flow guidance of between $1.4B-$1.6B. The company generated second quarter cash flow of $181M or 22c per share; an operating loss of $167M or 20c per share; and a net loss of $1.6B or $1.91 per share primarily due to a $1.3B non-cash, after-tax ceiling test impairment. Year-to-date, Encana has generated $676M in cash flow or 85c per share; an operating loss of $148M or 19c per share; and net loss of approximately $3.3B or $4.15 per share, largely attributable to non-cash, after-tax ceiling test impairments of $2.6B. Encana is on track to fully fund its 2015 capital program and dividend with anticipated cash flow and the proceeds from previously announced and completed divestitures. In addition, the company continued streamlining its organization during the second quarter to align its structure with its transformed portfolio and disciplined capital program.
06:08 EDTECAEncana on track for average Q4 production of 50,000 BOE/d
06:07 EDTECAEncana reports Q2 EPS (20c), consensus (15c)
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July 23, 2015
15:05 EDTECANotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include AbbVie (ABBV), consensus $1.06... Biogen (BIIB), consensus $4.10... Simon Property Group (SPG), consensus $2.36... State Street (STT), consensus $1.37... V.F. Corp. (VFC), consensus 36c... Johnson Controls (JCI), consensus 91c... American Airlines (AAL), consensus $2.60... Rockwell Collins (COL), consensus $1.30... Cabot Oil & Gas (COG), consensus 4c... Lear (LEA), consensus $2.48... Encana (ECA), consensus (15c).
14:24 EDTCVECenovus Energy upgraded to Outperform from Neutral at Credit Suisse
Price target C$23.
July 22, 2015
19:02 EDTSCSSOn The Fly: After Hours Movers
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16:09 EDTSCSSSelect Comfort backs FY15 EPS of $1.35, consensus $1.39
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16:05 EDTSCSSSelect Comfort reports Q2 EPS 21c, consensus 19c
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14:37 EDTSHW, VALHome improvement stocks rally after Owens Corning results, home sales data
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10:01 EDTAMCOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AMC Entertainment (AMC) upgraded to Buy at MKM Partners... Agnico Eagle (AEM) upgraded to Buy from Hold at HSBC... Allegiant Travel (ALGT) upgraded to Outperform from Market Perform at Raymond James... Amazon.com (AMZN) upgraded on positive outlook at JMP Securities... Bank of Ireland (IRE) upgraded to Buy from Neutral at Nomura... Canadian Pacific (CP) upgraded to Buy at Canaccord... Carrizo Oil & Gas (CRZO) upgraded to Outperform from Neutral at Credit Suisse... Concho Resources (CXO) upgraded to Outperform from Neutral at Credit Suisse... Crown Castle (CCI) upgraded to Buy from Neutral at Citi... Exxon Mobil (XOM) upgraded to Conviction Buy from Buy at Goldman... Fidelity & Guaranty Life (FGL) upgraded to Outperform from Neutral at Macquarie... First Interstate (FIBK) upgraded to Buy from Hold at Sandler O'Neill... Hess Corp. (HES) upgraded to Outperform from Neutral at Credit Suisse... Intuitive Surgical (ISRG) upgraded to Buy at Canaccord... J.C. Penney (JCP) upgraded to Buy from Neutral at Buckingham... Murphy Oil (MUR) upgraded to Neutral from Underperform at Credit Suisse... Noble Energy (NBL) upgraded to Outperform at Credit Suisse... Packaging Corp. (PKG) upgraded to Outperform from Market Perform at BMO Capital... Prologis (PLD) upgraded to Outperform from Neutral at Baird... Signature Bank (SBNY) upgraded to Strong Buy from Outperform at Raymond James... Sonic Automotive (SAH) upgraded to Buy from Neutral at BofA/Merrill... Tate & Lyle (TATYY) upgraded to Neutral from Sell at Goldman... Technip (TKPPY) upgraded to Neutral from Sell at Goldman... Union Bankshares (UBSH) upgraded to Buy from Neutral at Compass Point... Yamana Gold (AUY) upgraded to Buy from Hold at HSBC... Yara (YARIY) upgraded to Neutral from Underweight at JPMorgan.
08:11 EDTECAEncana shares compelling, says Morgan Stanley
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07:29 EDTAMCAMC Entertainment upgraded to Buy at MKM Partners
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06:42 EDTAMCAMC Entertainment upgraded to Buy from Neutral at MKM Partners
July 21, 2015
16:43 EDTAMCExtended Stay America CEO Donald to depart, Lopez appointed CEO
The boards of directors of Extended Stay America (STAY) and its paired-share REIT ESH Hospitality announced that they have appointed Gerardo Lopez to serve as the next president and CEO of both companies, effective August 24. Concurrently with the appointment of Lopez, the company’s current president and CEO, Jim Donald, will transition to the role of senior advisor through December 31. Lopez most recently has been the president and CEO of AMC Entertainment (AMC) since 2009.
10:01 EDTSHWOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ASML (ASML) upgraded to Accumulate from Neutral at SNS Securities... Anacor (ANAC) upgraded to Buy from Neutral at Goldman... Artisan Partners (APAM) upgraded to Outperform from Neutral at Credit Suisse... Canadian National (CNI) upgraded to Buy from Hold at Canaccord... General Mills (GIS) upgraded to Outperform from Sector Perform at RBC Capital... Halliburton (HAL) upgraded to Accumulate from Neutral at Global Hunter... Harte-Hanks (HHS) upgraded to Outperform from Market Perform at BMO Capital... MDC Partners (MDCA) upgraded to Overweight from Neutral at Piper Jaffray... SABMiller (SBMRY) upgraded to Buy from Neutral at Nomura... Sanmina (SANM) upgraded to Neutral from Underperform at Longbow... Santander Mexico (BSMX) upgraded to Neutral from Sell at Goldman... Sherwin-Williams (SHW) upgraded to Buy from Neutral at Northcoast... Southwestern Energy (SWN) upgraded to Buy from Neutral at Global Hunter... Verisk Analytics (VRSK) assumed with an Outperform at Keefe Bruyette.
08:46 EDTSHWSherwin-Williams upgraded to Buy from Neutral at Northcoast
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08:00 EDTAMCAMC Theaters CEO Gerry Lopez to step down effective August 6
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07:46 EDTSUJacobs wins five year contract from Suncor
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