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Stock Market & Financial Investment News

News Breaks
August 12, 2014
10:00 EDTWHX, TCK, CSX, WAC, SHOO, AMCC, CALL, UTX, SWNOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Applied Micro Circuits (AMCC) downgraded to Market Perform at FBR Capital... CSX (CSX) downgraded to Neutral from Outperform at Macquarie... Southwestern Energy (SWN) downgraded to Market Perform from Outperform at BMO Capital... Steven Madden (SHOO) downgraded to Neutral from Buy at Citigroup... Teck Resources (TCK) downgraded to Sell from Neutral at Goldman... United Technologies (UTX) downgraded at Cowen... Walter Investment (WAC) downgraded to Market Perform from Outperform at FBR Capital... Whiting USA Trust (WHX) downgraded to Underperform at Raymond James... magicJack (CALL) downgraded to Hold from Buy at Canaccord.
News For AMCC;CSX;SWN;SHOO;TCK;UTX;WAC;WHX;CALL From The Last 14 Days
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March 23, 2015
14:07 EDTSWNSouthwestern Energy CEO says 'don't have for sale sign up'
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13:13 EDTCSXRailroad operators trade lower after Kansas City Southern reduces FY15 guidance
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08:13 EDTUTXBofA/Merrill airlines/aerospace analysts hold analyst/industry conference call
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08:12 EDTUTXOtis selected for Hudson Yards development
Otis has entered into a multimillion-dollar agreement with related companies to supply elevator and escalator units for the new Hudson Yards development in Manhattan's West Side. As part of its contract, the world's largest manufacturer and maintainer of people-moving products will provide 73 units for 30 Hudson Yards, a 92-story, 2.6 million-square-foot tower that will be among the first to be constructed at the site. Founded by the inventor of the safety elevator, Otis is a part of UTC Building & Industrial Systems, a unit of United Technologies.
08:01 EDTUTXUTC Aerospace Systems awarded $39M contract from Naval Surface Warfare Center
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March 20, 2015
16:07 EDTSWNSouthwestern Energy announces sale of conventional assets in East Texas, Arkoma
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March 19, 2015
10:02 EDTSWNOn The Fly: Analyst Downgrade Summary
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08:53 EDTSWNSouthwestern Energy downgraded to Neutral from Buy at Sterne Agee
Sterne Agee downgraded Southwestern due to equity dilution, the sharp increase in its debt in early 2015, and deteriorating U.S. natural gas price outlook.
08:32 EDTSWNSouthwestern Energy sells gathering assets in Northeast Pennsylvania for $500M
Southwestern Energy has executed a definitive purchase and sale agreement with Howard Midstream Energy Partners to sell Southwestern Energy's gathering assets located in Bradford and Lycoming counties in northeastern Pennsylvania for $500M. The assets include approximately 100 miles of natural gas gathering pipeline, with nearly 600 million cubic feet per day of capacity. The proceeds from the transaction will be used to substantially repay borrowings under Southwestern Energy's $500M term loan facility that matures in December 2016. The transaction is expected to close in Q2.
March 18, 2015
11:44 EDTWACOcwen reopens after announcing MSR deal with Walter Investment
Ocwen (OCN) shares are up fractionally shortly after reopening for trading.
11:37 EDTWACWalter Investment jumps 7% after subsidiary agrees to buy MSRs from Ocwen
11:36 EDTWACOcwen intends to sell $9.6B portfolio of mortgage servicing rights to Green Tree
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11:35 EDTWACOcwen intends to sell $9.6B portfolio of mortgage servicing rights to Green Tree
March 17, 2015
12:38 EDTCALLOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday, with the Dow falling about 1%. The market opened in negative territory and proceeded to gain additional downside momentum in early trading. Data on housing starts was not good, even accounting for bad weather in many areas of the country, and the prospect of interest rate increases on the horizon may have some fearing that the housing market recovery is in danger of stalling. Adding to the weakness in stocks may have been the further slide in crude oil prices, which pushed benchmark U.S. crude oil below $43 per barrel earlier in the session. ECONOMIC EVENTS: In the U.S., housing starts plunged 17% to an 897K rate in February, widely undershooting expectations for starts to be down 2.4% to a 1.04M rate, but much of the slide was attributed to weather. Building permits rose 3% to a rate of 1.092M, which was better than the expected 0.5% growth to a 1.065M rate. In Europe, Germany's ZEW Center investor confidence index climbed to 54.8 from 53 last month, though that fell short of the 59.4 consensus forecast. In Asia, the Shanghai Composite index rose 1.6% to close at its highest level in over 6 years. COMPANY NEWS: Apple (AAPL) is preparing to launch an online TV service later this year, according to reports from The Wall Street Journal and the Financial Times. After the reports, Piper Jaffray analyst Gene Munster said he believes Apple's online TV service launch would lay the groundwork for an actual television launch sometime in 2016. Munster estimates that at an average selling price of $1,750, a television could add about 7% to Apple's 2017 revenue. MAJOR MOVERS: Among the notable gainers was Black Diamond (BDE), which jumped 30% after the company reported was then expected quarterly results and guidance but also announced it has hired two banks to help it explore its strategic alternatives. Also higher was Esperion (ESPR), which rose 15% after the company's phase 2b study of ETC-1002, a product in development for patients with hypercholesterolemia on stable statin therapy, met its primary endpoints. Among the noteworthy losers was Himax (HIMX), which dropped 9% after BofA Merrill Lynch downgraded the stock two notches to Underperform from Buy. Also lower following its earnings report was magicJack (CALL), which fell 19%. INDEXES: Near midday, the Dow was down 152.00, or 0.85%, to 17,825.42, the Nasdaq was down 8.39, or 0.17%, to 4,921.12, and the S&P 500 was down 11.39, or 0.55%, to 2,069.80.
10:00 EDTSWNOn The Fly: Analyst Upgrade Summary
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09:13 EDTSWNSouthwestern Energy upgraded to Buy from Neutral at Global Hunter
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March 16, 2015
19:00 EDTCALLOn The Fly: After Hours Movers
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16:42 EDTCALLmagicJack reports estimated 2.75M active MJ subscribers as of Dec. 31, 2014
magicJack activated 169,000 subscribers during the fourth quarter of 2014. Activations are defined as devices that become activated on to a subscription contract during a given period. During the fourth quarter ended December 31, 2014, magicJack's average monthly churn was 3.3%. magicJack APP had 3.4M monthly active unique APP users as of December 31, 2014.
16:41 EDTCALLmagicJack reports Q4 adjusted EPS 15c, consensus 12c
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16:40 EDTCALLmagicJack announces new $20M stock repurchase program
magicJack VocalTec Ltd. announced that its Board of Directors has authorized a new share repurchase program under which the company may repurchase up to $20M of its outstanding common stock from time to time on the open market or in privately negotiated transactions. The company's prior $100M repurchase program, pursuant to which $91.3M of its outstanding common stock was repurchased and $8.7M remained authorized for repurchases has been terminated.
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