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Stock Market & Financial Investment News

News Breaks
June 23, 2014
10:02 EDTKR, HERO, CWST, ALSMY, SPWR, OC, NGHC, KOG, HP, BEAV, AMD, NGLS, PER, NUE, NVDA, JOY, COH, ATML, TDC, SM, JWNOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AMD (AMD) downgraded at Pacific Crest... Alstom (ALSMY) downgraded to Neutral from Conviction Buy at Goldman... Atmel (ATML) downgraded to Hold from Buy at Feltl... BE Aerospace (BEAV) downgraded to Buy from Conviction Buy at Goldman... Casella Waste (CWST) downgraded to Hold from Buy at Wunderlich... Coach (COH) downgraded at Wedbush... Helmerich & Payne (HP) downgraded to Market Perform from Outperform at FBR Capital... Hercules Offshore (HERO) downgraded to Sell from Neutral at Goldman... Joy Global (JOY) downgraded at Longbow... Kodiak Oil & Gas (KOG) downgraded to Accumulate from Buy at KLR Group... Kroger (KR) downgraded to Neutral from Long-Term Buy at Hilliard Lyons... NVIDIA (NVDA) downgraded at Pacific Crest... National General (NGHC) downgraded to Neutral from Buy at Guggenheim... Nordstrom (JWN) downgraded to Neutral from Buy at Goldman... Nucor (NUE) downgraded at Macquarie... Owens Corning (OC) downgraded at Longbow... SM Energy (SM) downgraded to Accumulate from Buy at KLR Group... SandRidge Permian Trust (PER) downgraded to Market Perform from Outperform at Raymond James... SunPower (SPWR) downgraded to Hold from Buy at Brean Capital... Targa Resources Partners (NGLS) downgraded to Neutral from Buy at Citigroup... Teradata (TDC) downgraded to Market Perform from Outperform at JMP Securities.
News For AMD;ALSMY;ATML;BEAV;CWST;COH;HP;HERO;JOY;KOG;KR;NVDA;NGHC;JWN;NUE;OC;SM;PER;SPWR;TDC;NGLS From The Last 14 Days
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February 19, 2015
16:10 EDTJWNNordstrom down 3% after FY15 earnings miss expectations
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16:09 EDTJWNNordstrom sees FY15 EPS $3.65-$3.80, consensus $4.11
Sees FY15 net sales up 7%-9%, consensus $14.54B. Sees FY15 comparable sales up 2%-4%. Earnings per diluted share growth in the first half of FY15 is expected to be below the full-year outlook range of a 2 percent decrease and 2 percent increase, primarily due to store pre-opening expenses and the full year impact of the Trunk Club acquisition.
16:07 EDTJWNNordstrom reports Q4 EPS $1.32, consensus $1.35
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15:32 EDTJWNNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Public Storage (PSA), consensus $2.19... Intuit (INTU), consensus (13c)... Consolidated Edison (ED), consensus 55c... Nordstrom (JWN), consensus $1.35... Mohawk Industries (MHK), consensus $2.21... Newmont Mining (NEM), consensus 10c... Frontier Communications (FTR), consensus 5c... Brocade Communications (BRCD), consensus 24c... Bruker (BRKR), consensus 29c... Rovi (ROVI), consensus 41c... Marvell Technology (MRVL), consensus 24c... MRC Global (MRC), consensus 46c... Equinix (EQIX), consensus $1.03.
15:07 EDTJWNNordstrom February 77 straddle priced for 4.2% movement into Q4
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13:32 EDTJWNNordstrom February volatility increases into Q4 and outlook
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13:18 EDTSPWRIsrael's SolarEdge to launch IPO
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13:04 EDTSPWRDeutsche, Canaccord still upbeat on SolarCity despite Q1 guidance miss
The shares of SolarCity (SCTY) are falling after the company reported a higher than expected fourth quarter loss. However, Deutsche Bank and research firm Canaccord remained upbeat on the stock in notes to investors earlier today. Solarcity installs solar energy systems at residences and businesses. BACKGROUND: SolarCity reported a Q4 loss of ($1.33) per share, versus the consensus outlook for a ($1.27) per share loss. SolarCity's Q4 revenue, however, was roughly in-line with expectations and the company said that its backlog as of the beginning of 2015 was large enough to cover much of its expected installations for the first half of the year. Additionally, SolarCity reiterated its guidance for 920-1000MW of solar installations for 2015. SolarCity estimated, however, that its Q1 per share loss would come in at ($1.65)-($1.75), versus the consensus outlook for a ($1.25) per share loss. ANALYST REACTION: Deutsche Bank analyst Vishal Shah wrote that SolarCity had executed well, while demand for its installations is strong. Moreover, the company's cost reduction plan looks to be running ahead of schedule, and its 2015 shipments look poised to come in ahead of its guidance, Shah believes. The analyst did, however, write that SolarCity's Q4 bookings were "somewhat" below his expectations and declined versus Q3. Nonetheless, the analyst continued to identify the stock as one of his top picks in the solar sector and kept a $90 price target and Buy rating on the name. Also upbeat on SolarCity was Canaccord analyst Jed Dorsheimer. He raised his price target on the shares to $67 from $64 following its results. SolarCity has had record bookings over the last 30 days and the company should come close to setting a bookings record in Q1, the analyst wrote, adding that its deployments should ramp in Q2 and Q3 as seasonal factors subside. Dorsheimer kept a Buy rating on the stock. PRICE ACTION: In early afternoon trading, SolarCity fell 6.3% to $53.48. Other names in the solar sector also declined, with SunPower (SPWR) falling 1.8%, JinkoSolar (JKS) dropping 1.5%, and Vivint Solar (VSLR) losing 2.3%.
09:59 EDTCOHOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Altisource Residential (RESI) upgraded to Neutral from Sell at Compass Point... Angie's List (ANGI) upgraded to Overweight from Equal-Weight at First Analysis... Barrick Gold (ABX) upgraded to Buy from Hold at TD Securities... British Land (BTLCY) upgraded to Buy from Hold at Societe Generale... Coach (COH) upgraded to Buy from Hold at Topeka... Fiat Chrysler (FCAU) upgraded to Outperform from Neutral at Exane BNP Paribas... Garmin (GRMN) upgraded at BofA/Merrill... Hologic (HOLX) upgraded to Buy from Hold at Canaccord... Iberdrola (IBDRY) upgraded to Neutral from Underweight at HSBC... KPN (KKPNY) upgraded to Neutral from Underperform at Exane BNP Paribas... Monster Worldwide (MWW) upgraded at Evercore ISI... Pharmacyclics (PCYC) upgraded to Buy from Neutral at Nomura... RPC, Inc. (RES) upgraded to Equal Weight from Underweight at Morgan Stanley... Sanofi (SNY) upgraded to Buy from Neutral at BofA/Merrill... Sasol (SSL) upgraded to Neutral from Underweight at HSBC... Tractor Supply (TSCO) upgraded at Oppenheimer... Valero (VLO) upgraded to Buy from Hold at Deutsche Bank... Weingarten Realty (WRI) upgraded to Neutral from Sell at UBS... Werner (WERN) upgraded on improving freight fundamentals at RBC Capital... diaDexus (DDXS) upgraded to Buy from Neutral at Ladenburg,
09:35 EDTSPWROption volume leaders
Option volume leaders: AAPL TSLA TWTR MCD WMT PBR SPWR WFM GILD FB SCTY according to Track Data.
06:30 EDTCOHCoach upgraded to Buy from Hold at Topeka
Topeka upgraded Coach to Buy and raised its price target to $44 from $40 following yesterday's Fall 2015 fashion week. The analyst is impressed how quickly Coach has changed its assortments under new design director Stuart Vevers. Topeka said there are more opening price points in handbags and improved cohesion between collection and core, creating a brand halo effect. Additionally, the firm's recent mall checks indicate a pickup in Coach store traffic.
February 18, 2015
18:22 EDTSPWRSolar stocks struggle in extended session after SolarCity results
Solar stocks are trading down in the extended session after SolarCity (SCTY) reported a larger fourth quarter loss than expected and guided to a first quarter loss well below consensus estimates. WHAT'S NEW: Solar city said adjusted non-GAAP earnings per share for Q4 was a loss of ($1.33) against estimates of a loss of ($1.27). Revenue for the quarter was in-line at $71.8M. The company also guided for a loss of ($1.75)-($1.65) per share in the current quarter which is below analysts' average estimates for a loss of ($1.25) per share. However, the company did note, " With end-market demand healthy and growing, our installation capacity steadily ramping and a majority of our financing needs secured for the year, we remain confident in achieving our guidance to deploy 920-1000MW in 2015." PRICE ACTION: Shares of SolarCity are down over 5% to $54.01 in the after-hours session. OTHERS TO WATCH: Other stocks in the solar space trading lower in the extended session include SunPower (SPWR), SunEdison (SUNE), Vivint Solar (VSLR), and First Solar (FSLR).
11:14 EDTALSMYGE, Alstom deal likely to face intense EU scrutiny, Reuters says
General Electric's (GE) deal for Alstom's (ALSMY) power equipment business is likely to face an intense EU antitrust investigation, says Reuters, citing people familiar with the matter. Reference Link
10:54 EDTJOYJoy Global says reducing cost curve is company's priority for customers
Joy Global says focused on growing service business. Looking to accelerate savings on service business for 2015. Company focuses on life cycle management of equipment. Joy Global developing new products in service sector to allow customers to reduce costs. Sees opportunity in tough market to build service business. Seeing better visibility on rebuilds. Comments taken from Barclays Capital Industrial Select Conference.
10:26 EDTJOYJoy Global backs FY15 EPS view $3.10-$3.50, consensus $3.21
Backs FY15 revenue view $3.6B$3.8B, consensus $3.65B. Guidance taken from slides prepared for Barclays Industrial Select Conference.
10:05 EDTHPOn The Fly: Analyst Initiation Summary
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07:07 EDTJOYBarclays to hold a conference
Industrial Select Conference is being held in Miami on February 18-19.
06:51 EDTHPHelmerich & Payne initiated with a Market Perform at BMO Capital
Target $76.
February 17, 2015
10:00 EDTJWNOn The Fly: Analyst Downgrade Summary
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04:58 EDTJWNNordstrom downgraded to Underweight from Equal Weight at Barclays
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