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Stock Market & Financial Investment News

News Breaks
October 3, 2012
10:22 EDTING, LEAP, DFS, AMRN, TXN, POT, MOS, EXPR, ERJ, ANNOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Ann Inc. (ANN) downgraded to Neutral from Buy at SunTrust... Embraer (ERJ) downgraded to Neutral from Outperform at Cowen... Express (EXPR) downgraded to Neutral from Buy at SunTrust... Mosaic (MOS) downgraded to Neutral from Buy at Lazard Capital... Potash (POT) downgraded to Neutral from Buy at Lazard Capital ... Texas Instruments (TXN) downgraded to Sector Perform from Outperform at Pacific Crest... Amarin (AMRN) downgraded to Neutral from Outperfrom at Wedbush... Discover (DFS) downgraded to Hold from Buy at Argus... Leap Wireless (LEAP) downgraded to Neutral from Overweight at JPMorgan... ING Group (ING) downgraded to Market Perform from Outperform at Keefe Bruyette.
News For ANN;ERJ;EXPR;MOS;POT;TXN;AMRN;DFS;LEAP;ING From The Last 14 Days
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September 30, 2014
09:04 EDTMOSMosaic reduces phosphate fertilizer production
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07:53 EDTDFSDiscover volatility elevated into eBay announcing the separation of PayPal
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September 28, 2014
19:23 EDTPOTThis harvest could be trouble for Deere, Potash, Monsanto, Barron's says
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September 24, 2014
07:32 EDTERJEmbraer faces criminal charges against Brazilian authorities, WSJ says
Embraer is up against criminal action charges after Brazilian authorities accused eight company employees of bribing officials in the Dominican Republic in exchange for a $92M agreement to supply attack planes to the country's military, according to The Wall Street Journal, citing the criminal complaint. Reference Link
September 23, 2014
11:38 EDTANNAscena Retail plummets to 52-week low after results, guidance trail consensus
Shares of Ascena Retail (ASNA), a national specialty retailer of apparel for women and teen girls, are falling after the company's fourth quarter results and fiscal 2015 profit outlook trailed analysts' consensus estimates. WHAT'S NEW: Last night, Ascena Retail reported Q4 adjusted EPS of 13c and revenue of $1.18B, far below analysts' consensus estimates of 18c and $1.21B, respectively. Same store sales for the period declined 2%. Looking ahead, Ascena Retail forecast FY15 adjusted EPS of 90c-$1.00 excluding any acquisition-related, integration and restructuring costs that may be incurred during the fiscal year, significantly trailing the consensus of $1.25. The company sees EPS down compared to last year in the first half, but expects growth in the second half. The company sees flat to modest positive total comparable store growth for the year, with Fall flat to down low-single digits, and Spring up low-single digits. EBITA growth for the year is seen in the mid-to-high single digits, with the EBITDA rate flat to up 20 basis points, with 80-100 basis points of improvement in gross margin rate mostly offset by operating expense rate de-leverage. Ascena also sees a net new store increase of 30-40 units, capital expenditures of $350M-$375M and an effective tax rate of 37% vs. 32% in fiscal year 2014. The company sees FY15 double digit growth in depreciation, with projected expenses between $210M-$215M. The company's guidance is based on an ongoing challenging retail environment. WHAT'S NOTABLE: Ascena President and Chief Executive Officer David Jaffe commented that Q4 EPS was "in line" with expectations, despite mixed results across its portfolio and soft traffic patterns. Jaffe said the company is maintaining a conservative outlook for the Fall season, as the company has "yet to see sustained evidence of market improvement." Ascena also said it plans to increasingly focus on adjusted EBITDA as an indicator of underlying financial performance because it normalizes for major changes in non-cash depreciation and tax rates. ANALYST REACTION: This morning, research firm SunTrust lowered its price target on Ascena Retail to $17 from $21 after the company reported results that were weak across the board. The firm believes that the company is making appropriate changes and seems well-positioned for the future, while its brand integrity is intact across divisions. SunTrust reiterated a Buy rating on shares. Another firm, Oppenheimer, said Ascena's retail strategies should help stem margin pressure. The firm added that the profitability of the company's new brands is rising significantly, while its guidance looks conservative. Oppenheimer cut its price target on the shares to $19 from $22, but kept an Outperform rating on the stock. PRICE ACTION: In late morning trading, Ascena Retail fell $2.69, or 16.24%, to $13.85 on nearly four times its average daily trading volume. Earlier in the session, the stock notched a fresh 52-week low of $13.72. Including today's pull-back, the shares have lost approximately 22% over the past 12 months. OTHERS TO WATCH: Other specialty retailers catering to women include Christopher & Banks (CBK), Chico's FAS (CHS), and Ann Inc. (ANN).
08:38 EDTERJBofA/Merrill airlines/aerospace analysts hold analyst/industry conference call
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September 22, 2014
10:40 EDTTXNTexas Instruments management to meet with Pacific Crest
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September 19, 2014
10:06 EDTEXPROn The Fly: Analyst Downgrade Summary
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08:14 EDTEXPRExpress downgraded to Neutral from Buy at Goldman
Goldman downgraded Express to Neutral based on lackluster fundamentals as the pace of promotions in the quarter indicate a less robust margin recovery. The analyst believes shares reflect fundamentals and upside risk of a potential takeover. Price target lowered to $17 from $18.
08:11 EDTTXNTriQuint chip among those in iPhone 6 Plus, iFixit reports
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08:03 EDTTXNInvenSense, NXP, RF Micro chips included in iPhone 6, iFixit reports
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September 18, 2014
16:33 EDTTXNTexas Instruments increases quarterly dividend 13% to 34c from 30c
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07:52 EDTINGUBS Chair says litigation bigger worry than stress test, Bloomberg reports
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06:39 EDTINGEuropean banks take out EUR83B of loans from central bank, NY Times says
European banks agreed to take out EUR83B in low interest loans from the European Central Bank, as part of a program in which all of the funds must be loaned to businesses or individuals, or repaid to the central bank within two years, according to The New York Times. Several analysts had said that they would be disappointed if banks took out less than EUR100B in loans, but a number of analysts said that a second round of the program, due to occur in December after stress tests have been completed, may be more popular, the newspaper stated. Publicly traded European banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS). Reference Link
September 17, 2014
12:54 EDTPOTPotash would like to grow dividend over time
Comments made at the Credit Suisse Basic Materials Conference.
10:15 EDTDFSDiscover calls active, rumored to be eyed as target by Apple, report
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10:04 EDTDFSDiscover rumored to be eyed as target by Apple, Bank Innovation says
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10:00 EDTANNOn The Fly: Analyst Initiation Summary
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07:06 EDTERJEmbraer and Republic Airways sign a contract for 50 firm E175 jets
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05:22 EDTERJRepublic Airways acquires 50 new Embraer E175 aircraft
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