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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 12, 2014
13:11 EDTTXNToshiba to supply chips for Toyota driver-assistance systems, Nikkei says
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12:51 EDTAMRNOn The Fly: Midday Wrap
Stocks on Wall Street opened in negative territory and have remained there throughout the morning. The day’s economic data, including retail sales figures, a report on import prices, and business inventories data, were generally in line with expectations. The economic bright spot was the University of Michigan consumer confidence report which came in higher than expected. The market is on the verge of ending the week lower, which would be its first weekly loss in the last seven. ECONOMIC EVENTS: In the U.S., sales at retailers climbed 0.6% in August, matching expectations but also representing the fastest pace in four months. Retail sales growth for July was also revised upward to 0.3% from a prior estimate of having been flat. Import prices dropped 0.9% in August, while export prices slipped 0.5%. The University of Michigan preliminary consumer sentiment reading for for September rose to 84.6, beating expectations for it to be up more modestly to 83.3. Business inventories grew 0.4% in July, as expected. COMPANY NEWS: Shares of eBay (EBAY) were up more than 2% near noon after rumors circulated that Google (GOOG) may look to take a stake in the company. However, an eBay spokesperson denied the speculation, telling Reuters that the company has held "no conversations" with Google about acquiring a stake. MAJOR MOVERS: Among the notable gainers was digital marketing services company Conversant (CNVR), which soared 30% after Alliance Data Systems (ADS) agreed to acquire it for about $2.3B in cash and stock. Following last night's announcement of the deal, some Conversant peers rose as well, as Criteo (CRTO) gained almost 5% and TubeMogul (TUBE) rose 1%, while Alliance Data gained over 2%. Among the noteworthy losers was Amarin (AMRN), which dropped 22% after an office within the FDA denied the company's appeal of FDA's rescission of the ANCHOR clinical trial Special Protocol Assessment agreement. Also lower were shares of Ruckus Wireless (RKUS), which fell 5% after one analyst downgraded the shares and another initiated coverage of the stock with an Underweight rating. INDEXES: Near midday, the Dow was down 66.43, or 0.39%, to 16,982.57, the Nasdaq was down 19.83, or 0.43%, to 4,571.97, and the S&P 500 was down 10.28, or 0.51%, to 1,987.17.
10:10 EDTAMRNHigh option volume stocks
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09:14 EDTAMRNOn The Fly: Pre-market Movers
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09:04 EDTAMRNAmarin down 24.3% after FDA office denies appeal of ANCHOR rescission
09:03 EDTAMRNAmarin says FDA office denies appeal of ANCHOR rescission
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09:02 EDTAMRNAmarin says FDA office denies appeal of ANCHOR rescission
06:27 EDTPOTPotash extracting last miners trapped by mine fire, WSJ reports
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September 11, 2014
12:03 EDTPOT, MOSUSDA raises U.S. corn yield forecast to record
In its monthly World Agricultural Supply and Demand Estimates, or WASDE, report, the U.S. Department of Agriculture's corn yield forecast is raised 4.3 bushels per acre to a record 171.7 bushels. Corn production for 2014/15 is forecast 363 million bushels higher at a record 14,395 million bushels. Total 2014/15 corn usage is projected at 13,605 million bushels, up 170 million from last month. Although a record, usage is expected up just 5 million bushels from 2013/14 as export prospects remain constrained by large foreign carryin stocks, the USDA wrote. Publicly traded companies in the agriculture space include Agrium (AGU), Andersons (ANDE), Archer Daniels (ADM), Bunge (BG), CF Industries (CF), Compass Minerals (CMP), DuPont (DD), Intrepid Potash (IPI), Monsanto (MON), Mosaic (MOS), Potash (POT) and Syngenta (SYT).
September 10, 2014
14:17 EDTAMRNAmarin says Vascepa SPA rescission appeal on ANCHOR sNDA ongoing
Amarin says it is appealing to a higher level and if appeal is not successful that the company may pursue judicial relief under the First Amendment. Amarin says that the fight over Vascepa's sNDA for a mixed dyslipidemia indication is an "uphill battle," but the company believes patient care would benefit and that the company has valid legal, clinical and regulatory arguments. Information from slides for the company's presentation at the Rodman & Renshaw Global Investment conference.
11:49 EDTEXPRExpress looks cheap, likely to be acquired by Sycamore, Barron's says
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09:51 EDTPOTPotash September calls active
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September 9, 2014
10:10 EDTPOT, MOSOn the Fly: Analyst Downgrade Summary
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09:04 EDTANNMorgan Stanley views a potential IPO of Ann Inc. as unattractive
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08:52 EDTPOT, MOSFertilizer estimates lowered at Cowen
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08:20 EDTMOSMosaic downgraded at RBC Capital
As noted earlier, RBC Capital downgraded Mosaic to Sector Perform from Outperform. The firm downgraded the stock based on higher phosphate input costs and concerns about potash market fundamentals. Target to $51 from $55.
07:51 EDTPOTPotash downgraded to Underperform at Cowen
As previously reported, Cowen downgraded Potash to Underperform from Market Perform. The analyst sees an extended period of potash pricing pressure and significant multiple compression risk going forward. Price target lowered to $29 from $32.
07:28 EDTINGThe Money Event, Inc to hold a conference
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07:16 EDTDFSDiscover shares undervalued, says Barclays
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06:34 EDTMOSMosaic downgraded to Sector Perform from Outperform at RBC Capital
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