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Stock Market & Financial Investment News

News Breaks
January 29, 2013
10:02 EDTCAT, GSK, HOV, TSN, SPF, SWIR, PLXT, LEN, GPC, FITB, ERIC, CGV, BRE, ANFOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Abercrombie & Fitch (ANF) upgraded to Outperform from Market Perform at BMO Capital... BRE Properties (BRE) upgraded to Neutral from Sell at Goldman... CGG Veritas (CGV) upgraded to Overweight from Neutral at JPMorgan... Caterpillar (CAT) upgraded to Outperform from Market Perform at BMO Capital... Ericsson (ERIC) upgraded to Buy from Hold at Deutsche Bank... Fifth Third Bancorp (FITB) upgraded to Outperform from Market Perform at Wells Fargo... Genuine Parts (GPC) upgraded to Buy from Hold at BB&T... Lennar (LEN) upgraded to Buy from Neutral at Compass Point... PLX Technology (PLXT) upgraded to Buy from Hold at Wunderlich... Sierra Wireless (SWIR) upgraded to Outperform from Sector Perform at RBC Capital... Standard Pacific (SPF) upgraded to Buy from Neutral at Compass Point... Tyson Foods (TSN) upgraded to Buy from Underperform at BofA/Merrill... Hovnanian (HOV) upgraded to Neutral from Sell at Compass Point... GlaxoSmithKline (GSK) upgraded to Overweight from Equal Weight at Barclays... Caterpillar (CAT) upgraded to Buy from Outperform at CLSA.
News For ANF;BRE;CGV;ERIC;FITB;GPC;LEN;PLXT;SWIR;SPF;TSN;HOV;GSK;CAT From The Last 14 Days
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August 26, 2014
12:09 EDTTSNSanderson Farms tumbles after Q3 results fall short of expectations
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08:47 EDTGSKGenetic Technologies says NC court denies GlaxoSmithKline motion to dismiss
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August 25, 2014
13:44 EDTANFAbercrombie & Fitch weekly volatility elevated into Q2 and outlook
Abercrombie & Fitch August weekly call option implied volatility is at 96, September is at 48, October is at 44, December is at 38; compared to its 26-week average of 45 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on August 26.
12:19 EDTGSKOn The Fly: Midday Wrap
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10:40 EDTGSKBiotechs rise after InterMune acquired by Roche
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August 22, 2014
14:19 EDTGSKViiV Healthcare receives FDA approval for HIV-1 treatment Triumeq
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12:08 EDTANFGap hits 52-week high following beat and raise quarter
Shares of specialty apparel retailer The Gap (GPS) are advancing after the company posted better than expected second quarter results, and raised its fiscal 2014 profit outlook. WHAT'S NEW: Last night, Gap reported Q2 earnings per share of 75c and revenue of $3.98B, topping analysts’ consensus estimates of 69c and $3.96B, respectively. Q2 same store sales were flat versus the prior year period. WHAT’S NOTABLE: For FY14, Gap raised its EPS view to $2.95-$3.00 from $2.90-$2.95, versus consensus of $2.95. The company updated its guidance for FY14 diluted EPS to reflect the 5c related to the gain on asset sale. For FY14, the company continues to expect capital spending to be approximately $750M in support of its outlined strategies. Gap also announced it will enter India through franchise-operated Gap brand stores in 2015. Gap is partnering with Arvind Lifestyle Brand Limited, a subsidiary of Arvind Limited, which is one of India’s largest textile companies. The first stores are expected to open in India’s two largest cities – Mumbai and Delhi – starting with Gap’s Summer 2015 collection for adults, kids and babies. The brand plans to open about 40 franchise-operated Gap stores in India. ANALYST REACTION: This morning, analyst commentary was decidedly positive. Research firm Janney Capital upgraded Gap to Buy from Neutral. The firm upgraded shares based on the overall improving Softlines sector due to an inventory correction, Old Navy strength, global opportunities, potential improved gross margin returns on inventory investment, and best-in-class management. Their price target on the shares is $51. Another firm, UBS, said Gap is well positioned for second half upside citing its Omni-channel advantage, shift to higher margin businesses, increased square footage, and modestly positive comps driven by ecommerce. UBS has a Buy rating and a $50 price target on the stock. Sterne Agee says Gap’s valuation is very attractive. The firm believes that Gap's fundamentals are improving, while the setup for the stock over the next 12-18 months is favorable. It adds that the company's gross margins should be boosted by several factors going forward, and it kept a Buy rating on the shares. PRICE ACTION: In late morning trading, Gap rose $2.04, or 4.7%, to $45.22 on heavy trading volume. Earlier in the session, it reached a new 52-week high of $45.47. Including today’s advance, the stock has gained over 7.5% over the past twelve months. OTHERS TO WATCH: Other specialty apparel companies include Abercrombie & Fitch (ANF), American Eagle Outfitters (AEO), Guess (GES), and The Buckle (BKE).
06:46 EDTERICEricsson contract with MTS upped to exceed $1.5B, Reuters says
Russia's MTS said that it had raised the value of its contract with Ericsson to exceed $1.5B, reported Reuters. MTS noted that it agreed to an extra $286M contract with the Swedish company for the broadening and modernization of its 2G, 3G and LTE networks throughout Russia. Reference Link
August 21, 2014
12:24 EDTTSNHormel hits 52-week high after Q3 results beat estimates
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August 20, 2014
15:35 EDTGSKGlaxoSmithKline receives FDA approval for Arnuity Ellipta in the U.S.
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11:44 EDTGSKMylan completes second bidding round for GSK prescription portfolio, WSJ says
Mylan (MYL), TPG Capital, Advent International, KKR (KKR), Warburg Pincus and a few Indian prescription manufacturers have completed the second round of bidding for GlaxoSmith Kline's (GSK) portfolio of mature medications, according to The Wall Street Journal, citing people familiar with the sales process. GSK noted that it aims to sell a portfolio of drug brands in the U.S. and EU with yearly sales of approximately $1.66B. Reference Link
10:39 EDTCATCaterpillar data may be negative for shares in short-term, says Wells Fargo
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10:35 EDTCATCaterpillar reported world Machines sales down 9%
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08:30 EDTGSKPernix closes acquisition of Treximet
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08:29 EDTGSKPernix Therapeutics to host conference call
Conference call to discuss acquisition of Treximet will be held on August 20 at 9 am. Webcast Link
08:04 EDTGSKPOZEN announces U.S. rights for Treximet acquired by Pernix Therapeutics
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05:20 EDTERICEricsson to upgrade Vodafone Australia network
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August 19, 2014
18:19 EDTTSNTyson, Hillshire announce extension of tender offer for shares of Hillshire
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11:53 EDTANFAeropostale soars as Geiger returns as CEO
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August 18, 2014
06:39 EDTERICHrvatski Telekom selects Ericsson for 5-year managed services contract
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