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March 20, 2014
American Homes 4 Rent (AMH) upgraded to Buy from Neutral at BofA/Merrill... CEMEX (CX) upgraded to Buy from Neutral at Longbow... CHC Group (HELI) upgraded to Overweight from Neutral at JPMorgan... El Paso Electric (EE) upgraded to Neutral from Sell at Goldman... ING U.S. (VOYA) upgraded to Buy from Hold at Deutsche Bank... Infinera (INFN) upgraded to Buy from Hold at Stifel... Inphi (IPHI) upgraded to Buy from Hold at Stifel... NRG Energy (NRG) upgraded to Conviction Buy from Neutral at Goldman... On Assignment (ASGN) upgraded to Outperform from Market Perform at Wells Fargo... Tornier (TRNX) upgraded to Outperform from Market Perform at Wells Fargo... Ulta Salon (ULTA) upgraded to Buy from Neutral at Goldman... WEX Inc. (WEX) upgraded to Buy from Neutral at Citigroup... Jabil Circuit (JBL) upgraded to Sector Perform from Underperform at Scotia Capital... Macerich (MAC) upgraded to Buy from Hold at Sandler O'Neill... Sinovac Biotech (SVA) upgraded at Morgan Stanley... Gran Tierra (GTE) upgraded to Buy from Hold at TD Securities... WellCare (WCG) upgraded to Outperform from Market Perform at Leerink... Minerals Technologies (MTX) upgraded to Overweight at First Analysis... Talisman Energy (TLM) upgraded to Buy from Hold at TD Securities... Yum! Brands (YUM) upgraded to Outperform from Market Perform at First Global.
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June 19, 2015
10:09 EDTWCGFly Watch: Supreme Court may release key ACA decision soon
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08:40 EDTJBLJabil Circuit outlook still positive, says Argus
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06:49 EDTNRGNRG Energy shares recommended at Credit Suisse
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June 18, 2015
17:25 EDTMACMacerich 5.7M share Block Trade to price pre-open
Citi is acting as sole book running manager for the offering.
17:18 EDTMACPennsylvania REIT and Macerich announce redevelopment of Philadelphia gallery
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16:03 EDTTRNXWright Medical, Tornier shareholders approve all proposals related to merger
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12:34 EDTJBLOn The Fly: Top stock stories at midday
Stocks on Wall Street opened in positive territory and continued to tack on gains throughout the morning. The move has been broad based, with each of the major averages gaining at least 1%. The move may be reflecting investors feeling a sense of relief following yesterday’s FOMC meeting, after which the central bank repeated its promise to be gradual in raising rates, without specifying when rate "lift-off" will commence. ECONOMIC EVENTS: In the U.S., the consumer prices index rose 0.4% in the month of May, versus expectations for a 0.5% increase. The core reading, which removes food and energy prices, rose 0.1%, versus the expected increase of 0.2%. Initial jobless claims dipped 12,000 to 267,000 in the week ended June 13, versus expectations for 277,000 first-time claims. The Philadelphia Fed manufacturing survey climbed 8.5 points to 15.2 in June, topping expectations for a reading of 8. The leading indicators rose 0.7% to 123.1 in May, topping expectations for a rise of 0.4%. In Europe, International Monetary Fund chief Christine Lagarde reportedly said Greece won’t be given a grace period if it fails to make its scheduled payment to the fund on June 30. Meanwhile, finance ministers of euro area member states are set to meet today, but expectations for progress on Greece are low. Also, the Norwegian central bank cut interest rates to a record low, while the Swiss National Bank kept its deposit rate at record lows as well. In Asia, the Shanghai composite index tumbled 3.7% overnight, doubling its weekly decline to 7.4% and increasing fears that a bubble in the nation's stock market may be preparing to burst. COMPANY NEWS: Shares of enterprise software, hardware and IT services provider Oracle (ORCL) dropped 7% after the company reported lower than expected fourth quarter earnings per share and gave a lower than expected forecast for profit in its new quarter. Analysts at several firms, including Susquehanna, Wells Fargo and Cantor, suggested the post-earnings drop may be a buying opportunity, citing progress in the company's cloud efforts... Fitness tracker maker Fitbit (FIT) surged nearly 50% in its first day of public trading. The company priced its initial public offering at $20 per share, topping expectations, then opened at $30.40 per share, giving it a market value near $6.3B in early trading. Near noon, the stock had pulled back a bit to trade just below $30 per share. MAJOR MOVERS: Among the notable gainers was PBF Energy (PBF), which gained 18% after announcing that its subsidiary has signed a definitive agreement to purchase Chalmette Refining, a joint venture between affiliates of Petroleos de Venezuela and ExxonMobil (XOM). Also higher was BioMarin (BMRN), which rose 13% after the company reported results from a study of BMN-111 in dwarfism and several analysts hiked their price targets on the stock to reflect the increased probability of success for the drug. Among the noteworthy losers following their earnings reports were Bankrate (RATE), which fell 18%, and Jabil Circuit (JBL), which dropped 7%. INDEXES: Near midday, the Dow was up 218.44, or 1.22%, to 18,154.18, the Nasdaq was up 74.96, or 1.48%, to 5,139.84, and the S&P 500 was up 23.57, or 1.12%, to 2,124.01.
12:10 EDTJBLContract electronic manufacturers underperform after Jabil results
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11:31 EDTYUMOptions with increasing implied volatility
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09:04 EDTJBLOn The Fly: Pre-market Movers
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08:05 EDTNRGNRG Yield to acquire GE EFS' 25% interest in Desert Sunlight Solar Farm
NRG Yield, Inc. (NYLD), through its subsidiary NRG Yield Operating LLC, has entered into an agreement with GE Unit (GE) GE Energy Financial Services to acquire its 25% interest in the Desert Sunlight Solar Farm in Riverside, CA for $285M subject to customary working capital adjustments, plus the assumption of $287.4M of non-recourse project level debt. The acquisition, which provides NRG Yield with a total ownership of 137.5 megawatts of operating solar capacity, will place NRG Yield into a partnership with subsidiaries of NextEra Energy (NEE) and Sumitomo Financial (SMFG), who are the 50% and 25% owners of Desert Sunlight, respectively. The transaction is expected to increase both the annual run-rate EBITDA by approximately $45M and cash available for distribution by approximately $22M by 2016. NRG Yield expects to close the transaction by June 30, 2015. The transaction is subject to customary closing conditions, including approvals by the Federal Energy Regulatory Commission and notice of the acquisition to the California Public Utilities Commission. With this acquisition, NRG Yield now owns nearly 600 megawatts of solar generation. NRG Yield is supported by its parent, NRG Energy (NRG), which owns and operates approximately 1.2 gigawatts of solar generation, thus implying a combined solar portfolio of 1.8 gigawatts.
June 17, 2015
16:10 EDTJBLJabil Circuit down 7.5% after reporting Q3 results, guidance
16:10 EDTJBLJabil Circuit backs FY15 Core EPS view of $2.00 per share, consensus $2.02
Backs FY15 revenue guidance of up 13%. "We’re on track to deliver approximately 13% revenue growth and $2.00 in core EPS for this fiscal year, all while continuing to invest for future growth - quite an accomplishment when one considers the current macro environment,” CEO Mark Mondello said. Management updated its FY15 revenue outlook of $17.7B- $17.9B and core EPS of $1.95-$2.05.
16:06 EDTJBLJabil Circuit reports Q3 Core EPS 49c, consensus 49c
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16:05 EDTJBLJabil Circuit sees Q4 core EPS 40c-50c, consensus 47c
Sees Q4 revenue $4.45B-$4.65B, consensus $4.74B.
16:04 EDTJBLJabil Circuit reports Q3 EPS 37c, consensus 49c
Reports Q3 revenue $4.36B, consensus $4.46B.
15:16 EDTJBLNotable companies reporting after market close
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15:16 EDTJBLOptions with increasing volume
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14:48 EDTJBLJabil Circuit June 24 straddle priced for 5.6% movement into Q3
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14:11 EDTJBLJabil Circuit technical comments ahead of results
The $25 area is one that has proved nearly insurmountable resistance for the shares over the prior five years. With the stock close to that level ahead of earnings, the risk is that it will act as a hard ceiling yet again. If the news is bearish, the uptrend that began last October could be put at risk. The first important test of support would come at the 50-day moving average at $23.86. A breakdown below it would see next support at $22.73, $21.99, and $20.73. If the news is strongly bullish, it is possible that the $25 level could be taken out on the upside. Next resistance above $25 would be at $26.80 and then at $27.40. Both of those levels were the brief highs in 2012. The $30.50 level would be next major resistance if $27.40 were taken out on the upside.
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