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Stock Market & Financial Investment News

News Breaks
June 20, 2014
10:08 EDTTAP, PAG, AN, UFS, ENTG, ESL, KMP, KR, MDTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Autonation (AN) upgraded at Goldman... Domtar (UFS) upgraded to Neutral from Sell at Citigroup... Entegris (ENTG) upgraded to Overweight from Equal Weight at First Analysis... Esterline (ESL) upgraded at Canaccord... Kinder Morgan Energy (KMP) upgraded to Buy from Neutral at UBS... Kroger (KR) upgraded to Neutral from Sell at Goldman... Medtronic (MDT) upgraded to Buy from Hold at Jefferies... Molson Coors (TAP) upgraded at Morgan Stanley... Penske Automotive (PAG) upgraded to Neutral from Sell at Goldman.
News For AN;UFS;ENTG;ESL;KMP;KR;MDT;TAP;PAG From The Last 14 Days
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October 15, 2014
16:15 EDTKMPKinder Morgan Energy increases quarterly dividend to $1.40 from $1.39
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16:13 EDTKMPKinder Morgan now sees exceeding published annual budget dividend of $1.72
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16:06 EDTPAGPenske Automotive increases dividend to 21c per share
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15:28 EDTKMPNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include American Express (AXP), consensus $1.36; eBay (EBAY), consensus 67c; Kinder Morgan (KMI), consensus 34c; Kinder Morgan Energy Partners (KMP), consensus 64c; Kinder Morgan Management (KMR), consensus 58c; El Paso Pipeline Partners (EPB), consensus 39c; Netflix (NFLX), consensus 93c; United Rentals (URI), consensus $2.08; Navient (NAVI), consensus 52c; Las Vegas Sands (LVS), consensus 58c; Umpqua Holdings (UMPQ), consensus 29c; Astoria Financial (AF), consensus 16c; Rambus (RMBS), consensus 5c.
15:03 EDTMDTMedtronic management affirms commitment to Covidien deal, says Deutsche Bank
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10:48 EDTMDTShire tanks with AbbVie calling board meeting over merger
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09:35 EDTUFSDomtar upgraded to Outperform from Sector Perform at Scotia Capital
Scotia upgraded Domtar to Outperform due to valuation. Price target is $50.
October 14, 2014
16:53 EDTKMPTennessee Gas Pipeline closes open season for South System Flexibility Project
Kinder Morgan Energy Partners (KMP) announced that KMP’s Tennessee Gas Pipeline Company, or TGP, successfully closed a binding open season for its South System Flexibility Project for 500,000 dekatherms per day of capacity. MexGas Supply, formerly known as MGI Supply, the natural gas supply arm of Petróleos Mexicanos, has been awarded 100% of the project capacity. Anticipated project capital is $187M, with service beginning as early as Jan. 1, 2015. In addition, TGP initiated a binding open season Oct. 9 for its proposed Lone Star expansion project, which includes an incremental 300,000 Dth/d of firm transportation from Tennessee to South Texas for future infrastructure projects. TGP has secured an unnamed foundation shipper for this project and will announce the results and further details upon the close of the open season, which is scheduled for Oct. 31. The volumes committed are sufficient to justify building the project. The general partner of KMP is owned by Kinder Morgan (KMI). KMI owns the general partner interests of KMP and El Paso Pipeline Partners (EPB), along with limited partner interests in KMP, Kinder Morgan Management (KMR) and EPB.
15:13 EDTKMPKinder Morgan Energy announces $240M investment in expansion terminals
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14:03 EDTMDTMedtronic announces FDA approval of pacing lead for full-body MRI scans
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08:19 EDTMDTMedtronic begins pivotal study of Predictive Low Glucose Management technology
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08:17 EDTMDTCapricor Therapeutics to acquire certain patent rights from Medtronic
Capricor Therapeutics (CAPR) announced that it has entered into an agreement to acquire patent rights from Medtronic (MDT) relating to the formulation and pump delivery of natriuretic peptides. Capricor recently announced that it plans to develop a clinical program using Cenderitide, a natriuretic peptide, for the treatment of post-acute heart failure.
October 13, 2014
16:28 EDTANOn The Fly: Closing Wrap
Stocks on Wall Street spent most of today's quiet session see-sawing across the flat-line before dropping sharply in the final hour of trading and closing at their lows. The market opened in negative territory but soon made a move to the upside and appeared ready to break the recent market slide that has seen the S&P lose about 5% of its value. Before the averages gained significant steam, they reversed again and moved back into negative ground. The averages moved in a fairly narrow range for most of the afternoon, before accelerating to the downside with conviction in the final hour of trading. ECONOMIC EVENTS: In the U.S., no economic data of note was reported and banks and bond markets were closed in observance of the Columbus Day holiday. In China, the nation's customs administration reported a trade surplus of about $31B for September. Exports in the month increased 15.3% from a year earlier, beating expectations and making for the biggest monthly increase since February 2013. Imports rose 7%, significantly outpacing the consensus projection for a 2% decline. COMPANY NEWS: The Wall Street Journal reported that CSX (CSX) was approached by a larger rival, Canadian Pacific (CP), about a possible merger. However, Credit Suisse analyst Allison Landry wrote in a note to investors that a merger between the two would not be able to occur, due to high regulatory hurdles. Still, CSX rose $1.76, or 5.88%, to $31.70 following the Journal's report, while Canadian Pacific fell $4.40, or 2.32%, to $184.97... Shares of Fiat Chrysler Automobiles (FCAU) made their debut on the New York Stock Exchange and opened at $9 per share. The stock of the newly merged company closed trading down about 1% at $8.92... J.C. Penney (JCP) selected Marvin Ellison, who is currently executive vice president of stores at Home Depot (HD), to become its next CEO. The stock, which was also downgraded to Sell from Neutral at UBS this morning, spent much of the trading day in positive ground but moved lower late in the session and closed down 3c, or 0.42%, at $7.09. MAJOR MOVERS: Among the notable gainers was Alnylam (ALNY), which advanced $13.83, or 18.98%, to $86.68 after the company announced data from study of its treatment for patients with familial amyloidotic polyneuropathy and Piper Jaffray raised its price target on the stock to $133 from $101 citing the trial results. Among the noteworthy losers was AutoNation (AN), which fell $4.11, or 8.01%, to $47.21 after another company in the same sector, Lithia Motors (LAD), lowered its profit outlook for the third and fourth quarter and issued a lower than expected earnings forecast for fiscal 2015. Shares of Lithia, meanwhile, plunged $16.85, or 20.84%, to $64.01. Also lower were shares of GoPro (GPRO), which fell $8.38, or 9.85%, to $76.67 after a French journalist reported that the son of racing legend Michael Schumacher attributed the severity of his father's brain injury following a skiing accident on the GoPro camera mounted to his helmet. INDEXES: The Dow fell 223.03, or 1.35%, to 16,321.07, the Nasdaq dropped 62.58, or 1.46%, to 4,213.66, and the S&P 500 declined 31.39, or 1.65%, to 1,874.74.
15:02 EDTPAGPenske Automotive shares defended at Sterne Agee
11:55 EDTPAG, ANLithia Motors sinks after cutting profit forecasts
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09:22 EDTMDTMedtronic announces positive data from CoreValve ADVANCE DA Study
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07:13 EDTMDTBioFlorida to hold a conference
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October 10, 2014
10:01 EDTTAPMolson Coors and SABMiller settle Canada litigation
Molson Canada 2005, a subsidiary of Molson Coors, and Miller Brewing Company, a subsidiary of SABMiller, jointly announce that they have settled amicably their litigation in Toronto, Canada, arising from the Licence Agreement for the Miller trademark brands in Canada. As a result of the settlement, the rights to distribute Miller trademark brands in Canada will revert to SABMiller effective April 1, 2015.
07:04 EDTMDTMedtronic announces Omar Ishrak will remain CEO of new company
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October 7, 2014
07:59 EDTKRWhole Foods prices 13%-30% higher than peers, says Jefferies
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