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Stock Market & Financial Investment News

News Breaks
November 14, 2013
10:00 EDTPLAB, WHF, PNC, FIG, CAE, PENN, NTES, CSCO, ICEL, LULU, VIV, HTGC, AMGOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Affiliated Managers (AMG) downgraded to Neutral from Buy at Goldman... Cisco (CSCO) downgraded to Hold from Buy at Deutsche Bank... Fortress (FIG) downgraded to Neutral from Buy at Goldman... Hercules Technology (HTGC) downgraded to Hold from Buy at Wunderlich... NetEase.com (NTES) downgraded to Hold from Buy at Deutsche Bank... PNC Financial (PNC) downgraded to Perform from Outperform at Oppenheimer... Penn National (PENN) downgraded to Neutral from Overweight at JPMorgan... Telefonica Brasil (VIV) downgraded to Neutral from Buy at Goldman... WhiteHorse Finance (WHF) downgraded to Neutral from Outperform at RW Baird... lululemon (LULU) downgraded to Underperform from Neutral at Sterne Agee... CAE (CAE) downgraded to Hold from Buy at TD Securities... Phototronics (PLAB) downgraded at Needham... NetEase.com (NTES) downgraded to Underweight from Overweight at HSBC... lululemon (LULU) downgraded at Sterne Agee... Celluar Dynamics (ICEL) downgraded to Market Perform from Outperform at Leerink.
News For AMG;CSCO;FIG;HTGC;NTES;PNC;VIV;PENN;WHF;LULU;CAE;PLAB;ICEL From The Last 14 Days
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February 4, 2016
06:51 EDTPNCBofA doesn't deserve to be in 'stock market doghouse,' WSJ says
Bank of America (BAC) is currently in the "stock market doghouse," but doesn't deserve to be, David Reilly of the Wall Street Journal's Ahead of the Tape says. The overall beating of U.S. bank stocks has come amid the greater market selloff, reflecting the fact that slowing growth has brought doubt on the Fed's ability to raise rates in March, Reilly says. Since a rate increase is a far-off prospect, investors have little reason to own bank stocks, though Bank of America's valuation assumes "too dire an outcome," the report says. Banks with international outreach, such as Citi (C), are still arguably further behind in post-crisis cleanup, but Bank of America is more focused on the domestic U.S. economy and prices a U.S. recession as a given, not a possibility, the report says. Other large U.S. banks include Wells Fargo (WFC), JPMorgan (JPM), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB), BB&T (BBT), PNC Financial (PNC), and SunTrust (STI). Reference Link
February 3, 2016
16:40 EDTCSCOCisco and Jasper Technologies hold a joint conference call
Cisco Vice President Salvagno and Jasper Technologies CEO Mohammed discuss Cisco's intent to acquire Jasper Technologies on a joint conference call to be held on February 3 at 5 pm. Webcast Link
16:19 EDTCSCOCisco to acquire Jasper Technologies for $1.4B
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14:36 EDTCSCOArista shares jump as analysts encouraged patent issues can be overcome
Shares of Arista Networks (ANET) jumped Wednesday after the U.S. International Trade Commission reached an initial determination in the first of the company's ongoing patent disputes with Cisco (CSCO). The findings, though not entirely in Arista's favor, were cheered by several Wall Street analysts, who foresee little to no impact on Arista's business from the patent fight. NO BUSINESS IMPACT: Oppenheimer analyst Ittai Kidron argued today that, while the ITC's early ruling found Arista in violation of three of the five Cisco patents in question, the company already has workarounds for two of the disputed patents and is working on a third. That last workaround is scheduled for a second quarter rollout and could potentially miss the final determination deadline, but Kidron explained that Arista would simply work with U.S. Customs on the matter at that point. The analyst expects Arista to take the necessary steps to preempt any disruption and foresees zero impact to its business, leading him to keep an Outperform rating on the shares and recommends buying them on any weakness. Kidron noted, however, that the stock could be volatile surrounding the final determination in early June and the rulings for the second ITC investigation, due late April and August. ARISTA ATTRACTIVE: Wells Fargo analyst Jess Lubert echoed Kidron's bullish outlook, saying the ITC findings were largely as expected and "more than priced into" the shares. Arista's story remains attractive, customer sentiment is unlikely to be affected, and securing approval for the Q2 software workaround is "unlikely to be a problem," said the analyst, adding that the additional engineering costs associated with the fix appear already embedded in Arista's financial model. Lubert kept an Outperform rating on the shares, though he too noted potential volatility surrounding future legal findings. PRICE ACTION: Shares of Arista Networks have jumped 5.4% to $60.83, while Cisco has edged up nearly 1%.
09:56 EDTLULUlululemon February weekly calls active on renewed takeover chatter
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09:51 EDTLULURumor: lululemon moves up on renewed takeover chatter
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07:37 EDTCSCOArista Networks infringement 'largely priced into shares,' says Wells Fargo
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07:17 EDTCSCOArista Networks should be bought o nany weakness, says Oppenheimer
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06:04 EDTCSCOCisco says ITC ruling 'beginning of the end' for Arista's copying
Cisco's (CSCO) Mark Chandler in a blog post last night commented on the International Trade Commission's ruling in the first of their investigations into Arista Networks (ANET). The judge found violations of three Cisco patents, foreshadowed an exclusion order banning imports of all Arista switches and installed a challenging ITC review process for any new designs, Chandler wrote. "The details of the Judge's determination will be published within 30 days, but this notice marks the beginning of the end for Arista's systemic copying of our intellectual property," he added. He listed four options for Arista: Withdraw the products, modify the products so that they no longer infringe, face an exclusion order or evade the ITC exclusion order. Chandler continued, "And this is just the beginning. In April we will see a ruling in the second ITC investigation, which may confirm more violations and import bans. Arista will also face two District Court juries with these rulings on their record. The judges and juries in those trials will note this day as the day that Arista no longer can pretend that its products aren't tainted by misconduct. This will be important as they consider injunctions to remove infringing Arista product from the market." Shares of Arista closed yesterday down $1.56 to $57.70. Cisco closed down 65c to $22.83. Reference Link
February 2, 2016
16:25 EDTCSCOArista responds to initial ruling in Cisco dispute, plans new software in Q2
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15:50 EDTCSCOCisco looks to stop imports of Arista Networks routers, Bloomberg says
Arista (ANET), according to a U.S. trade judge, violates three Cisco (CSCO) patents, adds Bloomberg.
10:26 EDTCSCOFireEye calls active
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10:18 EDTCSCOCisco could be interested in FireEye, dealReporter says citing sources
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08:27 EDTAMGAffiliated Managers sees FY16 economic EPS $12.40-$14.00, consensus $13.64
Management said the company sees share repurchases equal to 50% of expected annual economic net income over FY16. Guidance provided during Q4 earnings conference call.
08:23 EDTAMGAffiliated Managers reports Q4 economic EPS $3.61, consensus $3.60
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07:46 EDTAMGAffiliated Managers reports aggregate AUM roughly $628B at December 31
February 1, 2016
10:24 EDTCAECAE announces aviation training contracts valued at more than C$350M
CAE underscores its position as training partner of choice with the announcement of a series of contracts, including the sale of 9 full-flight simulators to airlines globally, as well as commercial and business aviation training programs with more than 10 operators. These agreements, valued at more than C$350M , cover a broad range of CAE's training equipment and programs, from commercial cadet to captain training, to business aviation pilot training, to training centre operations and post-delivery services. Approximately half the value of these contracts was booked in CAE's third quarter and the balance in the beginning of the fourth quarter of fiscal year 2016. The 9 full-flight simulators sales bring the total number of FFS sales announced to date in fiscal 2016 to 39. CAE expects to exceed its prior FFS sales outlook for the fiscal year. The FFSs are at list prices, which include the value of OEM aircraft-specific data, parts and equipment. In the case of these contracts, some customers are providing part of the OEM content.
January 31, 2016
12:33 EDTPNCU.S. banks could return 20% or more, Barron's says
The banking sector looks like "one of the best bargains in the market," Barron's contends in a cover story. Names such as Citi (C), JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), Morgan Stanley (MS), BB&T (BBT), PNC Financial (PNC), SunTrust (STI) and U.S. Bancorp (USB) are showing healthy balance sheets and could offer "at least" 20% upside, the publication argues, adding that the industry's exposure to the energy sector "looks manageable" given information offered in recent earnings reports and conference calls. Reference Link
January 29, 2016
17:25 EDTLULUlululemon files to sell 9.8M shares of common stock
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09:35 EDTPENNNevada reports Statewide December gaming win up 3.31% to $982.06M
The state also reports Las Vegas Strip December gaming win up 8.2% compared to last year at $600.75M compared to last year. Publicly traded companies in the space include Boyd Gaming (BYD), Caesars (CZR), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN) and Wynn Resorts (WYNN).
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