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Stock Market & Financial Investment News

News Breaks
August 12, 2014
10:00 EDTSKUL, ROYT, MDIUY, ICUI, GARS, CXO, BWLD, UNP, RSNAY, OMG, KSU, HP, EPB, CHH, BC, SYK, PKX, NBG, ICPT, GDP, DF, CRZO, ANFOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Abercrombie & Fitch (ANF) upgraded to Buy from Hold at Stifel... Brunswick (BC) upgraded to Strong Buy from Market Perform at Raymond James... Buffalo Wild Wings (BWLD) upgraded to Equal Weight from Underweight at Morgan Stanley... Carrizo Oil & Gas (CRZO) upgraded to Outperform from Market Perform at BMO Capital... Choice Hotels (CHH) upgraded to Market Perform from Underperform at Wells Fargo... Concho Resources (CXO) upgraded to Buy from Accumulate at KLR Group... Dean Foods (DF) upgraded at Credit Suisse... El Paso Pipeline (EPB) upgraded to Neutral from Sell at Goldman... Garrison Capital (GARS) upgraded to Buy from Neutral at Ladenburg... Goodrich Petroleum (GDP) upgraded to Accumulate from Hold at KLR Group... Helmerich & Payne (HP) upgraded to Accumulate from Neutral at Global Hunter... ICU Medical (ICUI) upgraded at Raymond James... Intercept (ICPT) upgraded to Outperform from Market Perform at Leerink... Kansas City Southern (KSU) upgraded to Neutral from Underperform at Macquarie... Mediaset (MDIUY) upgraded to Overweight from Underweight at HSBC... National Bank of Greece (NBG) upgraded to Buy from Neutral at Citigroup... OM Group (OMG) upgraded to Overweight from Equal Weight at First Analysis... Pacific Coast Oil (ROYT) upgraded at Stifel... Posco (PKX) upgraded to Outperform from Neutral at Credit Suisse... RSA Insurance (RSNAY) upgraded to Neutral from Underperform at Credit Suisse... Skullcandy (SKUL) upgraded to Hold from Underperform at Jefferies... Stryker (SYK) upgraded to Buy from Hold at Needham... Union Pacific (UNP) upgraded to Outperform from Neutral at Macquarie.
News For ANF;BC;BWLD;CRZO;CHH;CXO;DF;EPB;GARS;GDP;HP;ICUI;ICPT;KSU;MDIUY;NBG;OMG;ROYT;PKX;RSNAY;SKUL;SYK;UNP From The Last 14 Days
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November 10, 2014
12:06 EDTDFDean Foods rallies after Q3 results, guidance top estimates
Shares of Dean Foods (DF), a direct-to-store distributor of dairy products, are rallying after the company’s third quarter results, as well as its fourth quarter and full year profit outlook, surpassed analysts’ consensus estimates. WHAT'S NEW: This morning, Dean Foods reported Q3 adjusted earnings per share of (3c) and revenue of $2.37B, topping analysts’ consensus estimates of (13c) and $2.35B, respectively. Chief Financial Officer Chris Bellairs noted that the company was seeing positive signs of progress which will pave the way for it to rebuild profitability in 2015 and beyond. WHAT’S NOTABLE: Looking ahead to Q4, Dean Foods forecast adjusted EPS of 5c-15c, well ahead of analysts' (2c) consensus. The company said the dairy commodity envrionment remains "challenging." The company expects raw milk costs will remain "stubbornly high" despite continued strong global production growth and waning demand, and does not see any relief until 2015. However, the company does expect significant butterfat cost declines at the end of Q4. Dean Foods said industry volumes remain "soft" and sees Q4 volumes to be down low single digits as compared to prior year, but with a continued improvement to net price realization. For FY14, adjusted EPS is seen at (16c)-(6c), also well ahead of expectations of (33c). Adjusted EBITDA for FY14 is expected to be $193M-$208M. On its earnings conference call, Dean Foods said domestic raw milk costs are likely to moderate as it exits 2014. PRICE ACTION: In early afternoon trading, Dean Foods rose $1.89 or 12.76% to $16.26 on more than twice its average daily trading volume. Despite today's advance, the shares have lost approximately 15% over the past 12 months. OTHERS TO WATCH: Other companies in the dairy product space include WhiteWave Foods (WWAV), which also reported better than expected results this morning, down 3.6%, and Lifeway Foods (LWAY), up 0.6%.
10:24 EDTDFDean Foods gaps up, runs, following earnings and outlook
The shares are up over 12% to $16.18 at time of writing, putting them in the middle of the price range of the day. Support is at the session low at $15.73. Resistance is at $16.49, the session high.
10:04 EDTANFOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abercrombie & Fitch (ANF) downgraded at Oppenheimer... American Eagle (AEO) downgraded to Neutral from Buy at B. Riley... BP (BP) downgraded to Neutral from Overweight at JPMorgan... Callon Petroleum (CPE) downgraded to Neutral from Buy at SunTrust... EP Energy (EPE) downgraded to Hold from Buy at Deutsche Bank... Eaton Vance (EV) downgraded at Sterne Agee... Ecopetrol (EC) downgraded to Underperform from Sector Perform at RBC Capital... General Mills (GIS) downgraded to Sector Perform from Outperform at RBC Capital... Genworth (GNW) downgraded to Market Perform from Outperform at Keefe Bruyette... MasTec (MTZ) downgraded to Hold from Buy at BB&T... Ocean Rig UDW (ORIG) downgraded to Neutral from Buy at Guggenheim... Performant Financial (PFMT) downgraded at Morgan Stanley... Petrobras (PBR) downgraded to Market Perform from Outperform at Cowen... R.R. Donnelley (RRD) downgraded to Hold from Buy at Benchmark Co.... Rex Energy (REXX) downgraded to Market Perform from Outperform at BMO Capital... Salix (SLXP) downgraded to Neutral from Buy at Mizuho... Siemens (SIEGY) downgraded to Neutral from Overweight at JPMorgan... Solazyme (SZYM) downgraded to Equal Weight from Overweight at Morgan Stanley... Stonegate Mortgage (SGM) downgraded to Market Perform at FBR Capital... Syngenta (SYT) downgraded to Neutral from Overweight at HSBC... ViaSat (VSAT) downgraded to Hold from Buy at Needham... Vistaprint (VPRT) downgraded to Neutral from Buy at SunTrust... Walter Investment (WAC) downgraded at Sterne Agee... WesBanco (WSBC) downgraded to Market Perform from Outperform at Keefe Bruyette... Whiting USA Trust II (WHZ) downgraded to Underperform at Raymond James... Wipro (WIT) downgraded to Sell from Buy at UBS... XOMA (XOMA) downgraded to Neutral from Buy at Ladenburg... Yanzhou Coal (YZC) downgraded to Sell from Hold at Deutsche Bank.
09:35 EDTDFActive equity options trading
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09:34 EDTDFDean Foods expects butter fat declines at end of Q4
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09:28 EDTDFDean Foods says butter has been in high demand recently
Export activities are decreasing and imports are increasing. Says cheese prices has held up better and will also converge due to pricing imbalance. Expects domestic raw milk costs to moderate as it exits 2014.
09:25 EDTDFDean Foods expects TruMoo to become a billion dollar brand
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09:20 EDTDFOn The Fly: Pre-market Movers
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09:05 EDTEPBKinder Morgan says ISS, Egan-Jones recommend approval of merger transactions
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08:36 EDTICPTIntercept price target lowered to $125 from $172 at FBR Capital
FBR Capital lowered its price target for Intercept shares to $125 saying its talks with experts and cardiologists indicate the company's OCA drug is unlikely to be a "silver bullet" for the treatment of nonalcoholic steatohepatitis. FBR notes that while OCA appears to improve the liver, the drug worsens many of the other derangements like lipid and glucose homeostasis. FBR decreased the probability of success in NASH to 55% from 60%, and lowered its peak OCA sales estimate to $5.2B. It keeps an Underperform rating on Intercept shares.
08:03 EDTDFDean Foods: Dairy commodity environment remains challenging
For Q4, the company expects raw milk costs will remain stubbornly high despite continued strong global production growth and waning demand. The company adds, "We don't expect much relief on raw milk costs until early 2015, but we do expect significant butterfat cost declines at the end of the fourth quarter. Industry volumes remain soft and we expect our fourth quarter volumes to be down low single digits, as compared to prior year, but with a continued improvement to net price realization. Further, as we move past our extended period of heavy plant closure activity and realize further costs reductions, we believe the rate of per-unit production and distribution costs will continue to decline and flatten from a year over year basis."
08:02 EDTDFDean Foods sees FY14 adjusted EPS (16c)-(6c), consensus (33c)
Sees FY14 adjusted EBITDA $193M-$208M; Sees FY14 free cash flow too end the year at approximately breakeven. Sees FY14 CapEx to be at low end of $150M-$175M guidance.
08:02 EDTDFDean Foods sees Q4 adjusted EPS 5c-15c, consensus (2c)
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08:01 EDTDFDean Foods: This year has clearly been the most difficult operating environment
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08:00 EDTDFDean Foods reports Q3 adjusted EPS (3c), consensus (13c)
Reports Q3 revenue $2.37B, consensus $2.35B
07:50 EDTANFAbercrombie & Fitch downgraded at Oppenheimer
As noted earlier, Oppenheimer downgraded to Abercrombie & Fitch Perform from Outperform. The firm downgraded the stock, citing lack of visibility, following the company's negative preannouncement. Target to $30 from $50.
07:14 EDTCXOHart Energy to hold a conference
Executive Oil Conference 2014 is being held in Midland, Texas on November 10-11.
06:34 EDTANFAbercrombie & Fitch downgraded to Neutral from Buy at Janney Capital
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05:48 EDTANFU.S. Retail Softlines industry cut to Negative at Barclays
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05:40 EDTANFAbercrombie & Fitch downgraded to Perform from Outperform at Oppenheimer
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