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May 4, 2012
10:29 EDTJPM, PEGA, MD, GPRO, BODY, PVH, HAS, DRWI, BMS, PRU, MN, GMCR, CBOU, ANROn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Alpha Natural (ANR) downgraded to Hold from Buy at Brean Murray... Bemis (BMS) downgraded to Sell from Neutral at Longbow... Body Central (BODY) downgraded to Market Perform from Outperform at William Blair... Body Central downgraded to Neutral from Overweight at Piper Jaffray... Caribou Coffee (CBOU) downgraded to Neutral from Buy at Dougherty... DragonWave (DRWI) downgraded to Hold from Buy at Jefferies... Gen-Probe (GPRO) downgraded to Neutral from Outperform at RW Baird... Green Mountain (GMCR) downgraded to Neutral from Buy at Dougherty... Hasbro (HAS) downgraded to Underperform from Market Perform at BMO Capital... MEDNAX (MD) downgraded to Hold from Buy at Deutsche Bank... Manning & Napier (MN) downgraded to Market Perform from Outperform at Keefe Bruyette... PVH Corp. (PVH) downgraded to Neutral from Overweight at Piper Jaffray... Pegasystems (PEGA) downgraded to Market Perform from Outperform at William Blair... Prudential (PRU) downgraded to Equal Weight from Overweight at Barclays... JPMorgan (JPM) downgraded to Underperform from Outperform at CLSA.
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November 18, 2015
16:06 EDTGMCRKeurig Green Mountain sees FY16 adjusted EPS $3.25-$3.45, consensus $3.47
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16:05 EDTGMCRKeurig Green Mountain reports Q4 adjusted EPS 85c, consensus 71c
Reports Q4 revenue $1.04B, consensus $1.03B.
16:01 EDTGPROOptions Update; November 18, 2015
iPath S&P 500 VIX Short-Term Futures down 1.39 to 19.44. Option volume leaders: AAPL NBG TGT NFLX F FB QCOM SUNE GPRO MSFT
14:44 EDTGMCRKeurig Green Mountain technical comments ahead of earnings
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14:38 EDTGMCRNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Salesforce (CRM), consensus 19c... L Brands (LB), consensus 52c... (CTRP), consensus 9c... NetApp (NTAP), consensus 57c... Keurig Green Mountain (GMCR), consensus 71c.
14:20 EDTGMCRKeurig Green Mountain November 40 straddle priced for 16.5% movement into Q4
12:41 EDTGMCREarnings Watch: Keurig CEO still confident of long-term goals ahead of Q4 report
Keurig Green Mountain (GMCR) is scheduled to report fourth quarter results after the market close on Wednesday, November 18 with a conference call scheduled for 5:00 pm ET. Keurig Green Mountain, formerly Green Mountain Coffee Roasters, is engaged in the specialty coffee and coffee maker businesses and owns the "Keurig" brand of single-serve coffee makers and products. EXPECTATIONS: Analysts are looking for earnings per share of 71c on revenue of $1.03B, according to First Call. The consensus range for EPS is 68c-74c on revenue of $1.07B-$1.2B. LAST QUARTER: On August 5, Keurig Green Mountain reported third quarter adjusted EPS of 80c, beating analysts' estimates of 79c, on revenue of $969.6M, missing consensus estimates of $1.04B. The company forecast Q3 adjusted EPS of 70c-75c on a sales decline of low teens compared to the fourth quarter of fiscal 2014. The company forecast FY15 adjusted EPS to decline in mid-single digits and net sales growth to be flat to up low-single digits compared to FY14. NEWS: In conjunction with its last earnings release, Keurig Green Mountain announced a $1B share repurchase authorization and said that based upon its preliminary estimates for fiscal 2016, the company expects its hot business to deliver modest adjusted EPS growth over fiscal 2015 inclusive of the expected productivity savings. The company also announced plans to reduce its workforce by 5% over the next few years, which is expected to generate about $300M in savings over the next three years with approximately $100M of savings in FY16. Brian Kelley, the company's chief executive officer, said that the company can still reach its long-term EPS goals and noted that the company experts a stronger FY15 holiday season than FY14. Kelley said that the company's new countertop device, the Kold machine, will drive long-term growth following recent sales declines in its core business, Reuters reported in September. Dow Jones said on October 21 that David Einhorn's Greenlight Capital shorted Keurig Green Mountain again. STREET RESEARCH: Canaccord lowered its price target on Keurig Green Mountain to $59 from $65 in a November note to clients and said they can't recommend buying the shares until the K-cup risk stabilizes, which could be helped by a strong holiday brewer sales season. On November 11, shares were downgraded to Negative from Mixed at OTR Global. PRICE ACTION: Over the last three months, Keurig Green Mountain shares are down over 19%. Year-to-date, shares are down roughly 69%. In afternoon trading ahead of the company's earnings, shares are up fractionally to $40.43.
10:26 EDTGPROGoPro tumbles, levels to watch
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10:08 EDTGPROGoPro sinks after analyst finds cameras on flash sales sites
The shares of action camera maker GoPro (GPRO) are sinking and hit a new 52-week low after research firm Piper Jaffray reported that the company has been offering significant discounts on its cameras. WHAT'S NEW: GoPro's cameras have been selling on flash sales websites such as Zulily (ZU) and Groupon (GRPN) at price discounts of 16%-34%, Piper analyst Erinn Murphy wrote in a note to investors today. As a result of these discounts and the 147% increase in GoPro's inventory at the end of the third quarter, the analyst is concerned that the company's gross margin could be pressured. In addition to the discounts GoPro is offering on the flash websites, the camera maker cut the price of its GoPro Session camera on Amazon to $299 from $399 in September and there has been "select downward price movement" on two more of its cameras on Amazon, Murphy reported. The analyst continues to expect GoPro's Q4 earnings per share to come in at 34c, versus analysts' consensus estimate of 41c. She slashed her fiscal 2016 EPS estimate for the company to $1.03 from $1.35, versus the consensus outlook of $1.37. Murphy reduced her price target on the stock to $15 from $20 and kept an Underweight rating on the name. WHAT'S NOTABLE: Ambarella (AMBA) makes chips used in GoPro's cameras. Best Buy (BBY), which is due to report its results tomorrow, sells GoPro's cameras. PRICE ACTION: In early trading, GoPro fell 8% to $19.19. Earlier today, it hit a new 52-week low of $19.04.
09:34 EDTGPROActive equity options trading on open
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09:22 EDTGPROOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Vipshop (VIPS), up 8%. ALSO HIGHER: Anavex Life Sciences (AVXL), up 27.5% after announcing preparation of regulatory filings based on guidance from FDA... Universal Insurance (UVE), up 7.7% after issuing a statement saying that Lakewood Capital Management's statement was misleading... Actinium Pharmaceuticals (ATNM), up 14.9% after submitting an Investigational New Drug application with the FDA for Iomab-B... Fairchild Semiconductor (FCS), up 8.8% after being acquired by ON Semiconductor (ON)... Norfolk Southern (NSC), up 5% after confirming a merger offer from Canadian Pacific (CP). DOWN AFTER EARNINGS: SouFun (SFUN), down 2.9%... Staples (SPLS), down marginally. ALSO LOWER: GoPro (GPRO), down 4.4% after price target lowered to $15 from $20 at Piper Jaffray... Citrix Systems (CTXS), down 3.5% after announcing operational review and the spin off of its GoTo family of products.
08:55 EDTJPMMorgan Stanley exec sees Q4 not much better than Q3 for banks, DJ reports
Morgan Stanley (MS) Institutional Securities President Colm Kelleher cautioned that fixed-income markets "still seem subdued," according to Dow Jones, citing his comments at an investment conference. Morgan Stanley was among the banks that reported lower revenue from fixed-income, currency and commodities trading during the third quarter and Kelleher said he doesn't think "the fourth quarter is going to be much better," the report noted. Large bank peers to Morgan Stanley include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
08:47 EDTGMCRKeurig Green Mountain expanding KOLD beverage lineup with cocktail mixers
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07:46 EDTPEGAJefferies hosts a summit
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06:44 EDTGPROGoPro price target lowered to $15 from $20 at Piper Jaffray
Piper Jaffray analyst Erinn Murphy cut her price target for GoPro (GPRO) shares to $15 after her channel checks indicated further price pressure. The stock closed yesterday down 75c to $20.87. In the last week, GoPro products have been offered on various flash sale websites including making its debut on Liberty Interactive's (QVCA) Zulily yesterday, Murphy tells investors in a research note. She has also seen further price pressure on Amazon (AMZN). The action camera maker will have a difficult time maintaining current margin expectations with price reductions becoming more evident, Murphy argues. She is "incrementally cautious" on GoPro into the holiday season and keeps an Underweight rating on the name.
05:11 EDTGMCRStocks with implied volatility movement; GMCR CHK
Stocks with implied volatility movement; Keurig Green Mountain (GMCR) 94, Chesapeake (CHK) 99 according to iVolatility.
November 17, 2015
18:34 EDTJPMU.S. pursuing criminal charges against JPMorgan, RBS executives, WSJ says
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07:58 EDTGMCRKeurig Green Mountain volatility elevated into Q4 and outlook
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07:50 EDTJPMClearing House to hold a conference
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07:48 EDTJPMBofa/Merrill to hold a conference
Banking & Financial Services Conference 2015 is being held in New York on November 17-18.
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