New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 29, 2013
10:02 EDTCAT, GSK, HOV, SWIR, GPC, CGV, TSN, PLXT, FITB, BRE, SPF, LEN, ERIC, 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.
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 >>
November 19, 2015
14:26 EDTANFAbercrombie & Fitch technical comments ahead of earnings
The shares have been trading in a sideways but wide range since March of this year. Shares ahead of earnings are currently trading below an important support level, $20, which has held for most of this sideways trading period. A move back above $20 on good news would be a technical positive that could see the highs of the recent range tested. The first resistance level of significance is at the 30-day moving average at $20.93. The 30-day has nearly flattened out in recent months, bisecting the range. Next resistance above the 30-day would be at $21.68, $22.25, and $23.25. If the news is bearish, the shares could drift to the low end of the range. First support would be at $18.74. Below that support, additional downside objectives may be at $17.60 and $16.56. The 52-week low is at $15.42.
13:29 EDTANFEarnings Watch: Abercrombie reports amid ongoing turnaround, CEO search
Abercrombie & Fitch (ANF) is scheduled to report third quarter earnings before the market open on Friday, November 20 with a conference call scheduled for 8:30 am ET. Abercrombie & Fitch is a retailer of casual apparel for men, women and kids. EXPECTATIONS: Analysts are looking for earnings per share of 22c on revenue of $864.65M, according to First Call. The consensus range for EPS is 7c-44c on revenue of $832.7M-$897M. LAST QUARTER: On August 26, Abercrombie & Fitch reported second quarter adjusted EPS of 12c on revenue of $817.8M, beating consensus estimates of (4c) and $811.46M, respectively. The company added that same store sales for Q2 were down 4% year over year. Abercrombie & Fitch also said that it expected same store sales trends to improve in the second half of the year, skewed towards the fourth quarter. NEWS: The company said in its Q2 earnings release that it planned to open 15 full-price stores in fiscal 2015 in China, Japan, and the Middle East, six full price stores in North America, and ten new outlet stores in the U.S. The retailer also said that it expected to close roughly 60 stores in the U.S. during the fiscal year through natural lease expirations. On its Q2 conference call, Abercrombie & Fitch said that its board was "deeply engaged" in its search for a new chief executive officer and that someone will be appointed to the role "in due time." The company added on the call that it was still making adjustments to prices at the Abercrombie brand. STREET RESEARCH: On August 27, Stifel upgraded Abercrombie to Buy from Hold and maintained a $24 price target following the company's upbeat Q2 results. A day later, RBC Capital upgraded the company's stock to Sector Perform from Underperform and raised its price target to $20 from $17, saying that the fundamentals of the Hollister unit are improving while revenue was showing signs of rebounding. On September 24, Standpoint Research downgraded Abercrombie & Fitch to Hold from Buy. On October 19, Wunderlich upgraded the company's shares to Hold from Sell with a $21 price target, saying that there were signs of a business turnaround. On November 19, Susquehanna reiterated a Positive rating and $26 price target on the retailer's stock, saying it believes the company is well positioned for the holiday season. PRICE ACTION: Abercrombie & Fitch shares are flat at $19.75 in afternoon trading ahead of tomorrow's earnings report. The stock is up about 12.5% over the past three months.
10:26 EDTCATGoldman says sell Titan with ag and mining weakness expected to continue
Goldman Sachs downgraded Titan International (TWI) to Sell from Neutral today, saying that weakness in agriculture and mining would continue to weigh on the company's results. Goldman's downgrade comes after the company reported much weaker than expected results on November 6. Titan makes tires and wheels used in off-road vehicles which are utilized by farmers and mining and construction companies. WHAT'S NEW Titan derives 80% of its revenue from agriculture and mining, so the weakness in those sectors will continue to hurt its results going forward, wrote Goldman analyst David Tamberino. Additionally, farmers have less money to spend on capital projects, reducing the likelihood that they will adopt Titan's new LSW tires, according to the analyst. Given these factors and the January 2017 maturity of Titan's convertible note, the company could be faced with a cash crunch, the analyst warned. Moreover, Titan is facing increased competition, according to Tamberino. He sharply lowered his 2015-2017 earnings before interest, taxes, depreciation and amortization estimates for the company and slashed his price target on the name to $3 from $8. WHAT'S NOTABLE: Deere (DE), Caterpillar (CAT), and AGCO (AGCO) sell heavy machinery used in agriculture. PRICE ACTION: In early trading, Titan sank 11% to $4.50.
08:38 EDTANFAbercrombie & Fitch well positioned for holidays, says Susquehanna
Subscribe for More Information
05:54 EDTERICEricsson and Inmarsat sign strategic maritime agreement
Subscribe for More Information
05:38 EDTERICEricsson and Inmarsat sign strategic maritime agreement
Subscribe for More Information
November 18, 2015
08:11 EDTGSKIMS Health forecasts global drug spending to increase 30% by 2020 to $1.4T
Subscribe for More Information
November 17, 2015
14:46 EDTANFAbercrombie & Fitch volatility elevated into Q3 and outlook
Subscribe for More Information
12:56 EDTTSNTyson Foods issues voluntary recall of chicken wings
Subscribe for More Information
November 16, 2015
17:10 EDTLENSoros took stake in Paypal, liquidated Herbalife stake
Soros Fund Management gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: Paypal (PYPL), CIT Group (CIT), Schlumberger (SLB), Kraft Heinz (KHC), and Amazon (AMZN). INCREASED STAKES: Allergan (AGN), Lions Gate (LGF), Energen (EGN), Southwest Airlines (LUV), and Qunar Cayman Islands (QUNR). DECREASED STAKES: LyondellBasell (LYB), YPF (YPF), Time Warner Cable (TWC), Dow Chemical (DOW), and Monsanto (MON). LIQUIDATED STAKES: Herbalife (HLF), Lennar (LEN), DR Horton (DHI), United Continental (UAL), and Nice Systems (NICE).
15:36 EDTCATCaterpillar November volatility up into overview of Financial Services
Subscribe for More Information
13:29 EDTCATCaterpillar to host conference call
Subscribe for More Information
10:11 EDTERICHigh option volume stocks
Subscribe for More Information
09:01 EDTERICOoredoo Gropu signs 5-year frame agreement with Ericsson
Subscribe for More Information
05:26 EDTERICEricsson CEO says no talks with Cisco about merger or acquisition
Ericsson (ERIC) has noted the recent speculation in the press and financial markets regarding an interest by Cisco (CSCO) to acquire Ericsson. On November 9, the two companies announced a global business and technology partnership to create the networks of the future. The partnership announcement was supported by multiple agreements that include commitments to network transformation through reference architectures and joint development, systems-based management and control, a broad reseller agreement, and collaboration in key emerging market segments. President, CEO and member of the board, Hans Vestberg says: "We note that there are rumors in the market regarding an acquisition of Ericsson by Cisco possibly spurred by the recent announcement of a partnership between our two companies. The talks leading up to the partnership announcement have been ongoing for a year and there have not been any discussions whatsoever on a merger or an acquisition."
November 13, 2015
17:22 EDTERICCisco refutes report of interest in buying Ericsson, Bloomberg says
Subscribe for More Information
15:46 EDTERICCisco rejects Ericsson takeover speculation, Bloomberg says
Subscribe for More Information
15:21 EDTERICDagens Industri says Cisco seeking to buy Ericsson, Bloomberg reports
Subscribe for More Information
12:34 EDTCATCaterpillar, General Motors, Altria Group are market beaters, Barron's says
Subscribe for More Information
07:29 EDTERICCisco results can still improve, says Wells Fargo
After Cisco (CSCO) provided weaker than expected Q2 guidance, Wells Fargo still thinks the company's results can improve in 2H15 and 2016, partly due to improvements in switching, E-rate tailwinds, and the recovery of slipped routing deals and contributions from new partnerships with Ericsson (ERIC) and Inspur. Wells keeps an Outperform rating on Cisco.
1 | 2 | 3 >>

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use