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Stock Market & Financial Investment News

News Breaks
July 18, 2014
10:03 EDTEOG, DDAIF, ADS, IGTE, SQM, ORLY, LPL, FBR, DNKN, AZO, AUO, WWW, RP, NUS, KEG, EQR, CLX, APC, AMD, SVLC, PTP, MAT, IRMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AMD (AMD) downgraded at BofA/Merrill... AU Optronics (AUO) downgraded to Underperform from Market Perform at Bernstein... Alliance Data (ADS) downgraded at RW Baird... Anadarko (APC) downgraded to Market Perform from Outperform at Bernstein... AutoZone (AZO) downgraded at Stifel... Clorox (CLX) downgraded to Neutral from Buy at BTIG... Daimler AG (DDAIF) downgraded to Neutral from Outperform at Credit Suisse... Dunkin' Brands (DNKN) downgraded to Neutral from Buy at Janney Capital... EOG Resources (EOG) downgraded to Market Perform from Outperform at Bernstein... Equity Residential (EQR) downgraded to Market Perform at Raymond James... Fibria Celulose (FBR) downgraded to Sell from Neutral at Goldman... Iron Mountain (IRM) downgraded at RW Baird... Key Energy (KEG) downgraded to Sector Perform from Outperform at Howard Weil... LG Display (LPL) downgraded to Underperform from Market Perform at Bernstein... Mattel (MAT) downgraded to Hold from Buy at Needham... Nu Skin (NUS) downgraded to Underperform from Neutral at BofA/Merrill... O'Reilly Automotive (ORLY) downgraded at Stifel... Platinum Underwriters (PTP) downgraded to Market Perform at Keefe Bruyette... RealPage (RP) downgraded at JMP Securities... SQM (SQM) downgraded to Neutral from Overweight at JPMorgan... SilverCrest (SVLC) downgraded to Neutral from Buy at Roth Capital... Wolverine World Wide (WWW) downgraded to Hold from Buy at Argus... iGATE (IGTE) downgraded to Reduce from Neutral at Nomura.
News For AMD;AUO;ADS;APC;AZO;DDAIF;CLX;DNKN;EOG;EQR;FBR;IRM;KEG;LPL;MAT;NUS;ORLY;PTP;RP;SQM;SVLC;WWW;IGTE From The Last 14 Days
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August 24, 2015
09:45 EDTAZOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Bank of America (BAC) upgraded to Outperform from Market Perform at Keefe Bruyette... Bristol-Myers (BMY) upgraded to Neutral from Underweight at Piper Jaffray... Chevron (CVX) upgraded to Neutral from Underperform at BofA/Merrill... Abercrombie & Fitch (ANF) upgraded to Overweight from Neutral... Nike (NKE) upgraded to Outperform from Market Perform at Telsey Advisory... DreamWorks (DWA) upgraded to Buy from Neutral at B. Riley... Caesarstone (CSTE) upgraded to Overweight from Equal Weight at Barclays... TransAlta (TAC) upgraded to Outperform from Market Perform at BMO Capital... Sarepta (SRPT) upgraded to Overweight from Neutral at Piper Jaffray... AutoZone (AZO) upgraded to Buy from Neutral at BofA/Merrill... Royal Dutch Shell (RDS.A) upgraded to Buy from Hold at Jefferies... Allscripts (MDRX) upgraded to Buy from Hold at Argus... China Unicom (CHU) upgraded to Buy from Hold at Jefferies... Ross Stores (ROST) upgraded to Buy from Neutral at Buckingham.
08:56 EDTAZOAutoZone upgraded to Buy on comp outlook, strong industry trends at BofA/Merrill
As previously reported, BofA/Merrill upgraded AutoZone to Buy from Neutral with an $865 price target. The firm raised estimates on a higher comp outlook, saying it expects strength in miles driven due to lower fuel prices and increased employment. BofA/Merrill expects distribution initiatives to increase parts availability, especially in commercial, where the company is under-penetrated. The firm sees strong industry trends ahead and comp growth of 3.3% over the next few years, which should narrow the valuation gap versus peers.
07:25 EDTAZOAutoZone upgraded to Buy from Neutral at BofA/Merrill
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07:15 EDTDDAIFDaimler to cut 1,500 truckmaking jobs in Brazil, Bloomberg reports
Daimler is cutting 1,500 jobs at its Brazilian truckmaking unit amidst lack of recovery for demand for commercial vehicles in the country, Bloomberg reports. Reference Link
06:22 EDTAMDTSMC pursuing 16nm chip orders, DigiTimes reports
According to market sources, DigiTimes reports that TSMC (TSM) has been "actively" seeking 16nm FinFET chip orders. In addition to securing a portion of Apple's (AAPL) A9 chip orders, TSMC has also received orders from AMD (AMD), Broadcom (BRCM), LG, Nvidia (NVDA) and Avago (AVGO), the sources say, noting that TSMC failed to maintain orders for Qualcomm's (QCOM) flagship mobile chips, as it has placed orders for the Snapdragon 820 series with Samsung (SSNLF). Reference Link
August 21, 2015
12:22 EDTAPC, EOGChanos say still short Exploration & Production space
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08:11 EDTDDAIFDaimler AG could collaborate with Google, Apple, Reuters says
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August 20, 2015
11:00 EDTAPCAnadarko August calls active
Anadarko August 72 and 73.5 calls are active on total call volume of 7K contracts (1K puts) on takeover speculation. August call option implied volatility is at 55, August weekly is at 44, September is at 40; compared to its 52-week range of 22 to 56. Active call volume suggests traders taking positions for large near term price movement.
10:55 EDTAPCRumor: Anadarko moves off lows on renewed takeover speculation
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10:00 EDTMATOn The Fly: Analyst Initiation Summary
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10:00 EDTAMDAMD management to meet with Canaccord
Meeting to be held in Toronto on August 26 hosted by Canaccord.
10:00 EDTADSOn The Fly: Analyst Upgrade Summary
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08:20 EDTADSAlliance Data upgraded on valuation at Stifel
As noted earlier, Stifel upgraded Alliance Data to Buy from Hold. The firm thinks that the company's fundamentals are solid,. while the valuation adequately reflects the risks associated with its acquisition of Conversant. Stifel believes that the stock can rally quickly as fears about the acquisition dissipate. Target $330.
07:54 EDTADSAlliance Data upgraded to Buy on outsized growth at Stifel
As previously reported, Stifel upgraded Alliance Data to Buy from Hold. The firm believes Alliance Data's valuation discounts risks at its Epsilon subsidiary and its major acquisition of Conversant. Stifel views risk/reward as attractive given industry-leading growth and profitability in its core card business and established a $330 price target on shares.
06:11 EDTADSAlliance Data upgraded to Buy from Hold at Stifel
05:46 EDTEOGStocks with implied volatility movement; QIHU EOG
Stocks with implied volatility movement; Qihoo 360 (QIHU) 45, EOG Resources (EOG) 35 according to iVolatility.
August 19, 2015
16:58 EDTEOGOn The Fly: Top stock stories for Wednesday
The market opened deep in negative territory after a tumultuous trading session in China and a softer than expected U.S. consumer prices report. Sellers continued to push the averages lower throughout the morning, with the Dow tacking on losses of more than 200 points as investors waited for the release of the Fed minutes. The market rallied following an early leak of the minutes, which suggested officials are getting closer to raising rates but appear to be waiting for additional data. Despite the afternoon rally, the averages sold off once again heading into the close, leaving all three indices in the negatives for Wednesday. ECONOMIC EVENTS: In the U.S., the July consumer price index edged up 0.1% against expectations for 0.2% reading. The core reading, which excludes food and energy, also came in at 0.1% versus consensus estimates of 0.2%. There were no revisions to the 0.3% headline gain in June or the 0.2% growth in the ex-food and energy component. Component gains were muted across the board, with Energy prices up just 0.1% in July. Meanwhile, FOMC minutes showed no definitive indication of a September rate hike. Most committee members "judged that the conditions for policy firming had not yet been achieved, but they noted that conditions were approaching that point." Other members, however, believed that the inflation outlook "might not soon meet one of the conditions... for initiating a firming of policy." COMPANY NEWS: Shares of Dot Hill Systems (HILL) soared $4.50, or 86.87%, to $9.68 after Seagate Technology (STX) agreed to acquire the company for $9.75 per share, noting that it expects the deal to be non-GAAP EPS accretive in fiscal 2016. Shares of the hard drive giant fell 5.03% to $49.43 for the session... Lowe's (LOW) shares saw gains of $1.34, or 1.84%, to $74.36 following the company's earnings report this morning, while Target (TGT) rose $59c, or 0.73%, to $80.89 after beating on both top and bottom lines. On a subsequent conference call, Target executives forecast a "choppy" competitive environment in Q3, though they added that the company "will not get beat" on promotions in Q4. Separately, American Eagle (AEO) lost 7.42% to $16.92 after its quarterly numbers. MAJOR MOVERS: Among the notable gainers were Palatin (PTN) and Apricus (APRI), showing respective advances of 3.19% and 7.89% after the FDA approved Sprout's female sexual dysfunction drug Addyi, with the agency remarking that it "continues to encourage drug development in this area." Note that both Palatin and Apricus are developing their own treatments in the space, and Apricus reaffirmed this morning its intent to seek a global partner as it advances its Femprox sexual dysfunction medication. Also higher was Yum! Brands (YUM), which gained $1.90, or 2.26%, to $86.10 after appointing a new CEO of its China division, adding that its same-store sales in the region "have turned significantly positive." Among the noteworthy losers was Rayonier Advanced Materials (RYAM), plunging $6.01, or 44.09%, to $7.62 after disclosing a legal battle with its customer Eastman Chemical (EMN) over "meet or release" contract stipulations which may impact Eastman's purchase obligations. Also lower was Caesarstone (CSTE), which lost $3.43, or 7.14%, to $44.61 after short-selling hedge fund Spruce Point said the stock has up to 75% downside due to heightened raw material costs and competitive concerns, among other factors. Separately, EOG Resources (EOG), Baytex Energy (BTE), and Vanguard Natural (VNR) saw respective losses of 4.15%, 15.53%, and 13.83% after WTI crude fell 5.02% for the session. INDEXES: The Dow declined 162.61, or 0.93%, to 17,348.73, the Nasdaq fell 40.30, or 0.80%, to 5,019.05, and the S&P 500 lost 17.31, or 0.83%, to 2,079.61.
16:14 EDTMATMattel initiated with an Outperform at Oppenheimer
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10:39 EDTORLYO'Reilly Automotive management to meet with Sterne Agee CRT
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06:12 EDTDNKNStarbucks K-cup momentum is accelerating, says UBS
UBS analyst Keith Siegner says Starbucks (SBUX) is seeing accelerating momentum in the single-serve cup category. The company's K-cup sales increased 36% year-over-year for the four-week period ended August 8, according to Nielsen (NLSN), Siegner tells investors in a research note. Starbucks' K-cup promotion levels ticked up sequentially, but remain well below levels from earlier in the year, the analyst points out. The company's K-Cup portfolio continues to gain share despite increasing price pressure and new market entrants like Dunkin' Brands (DNKN) and McDonald's (MCD), Siegner writes. He keeps a Buy rating on Starbucks with a $63 price target. The stock closed yesterday up 9c to $57.83. Shares of Keurig Green Mountain (GMCR) are down 62% year-to-date in part due to the company's slowing sales in the single-serve cup category.
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