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Stock Market & Financial Investment News

News Breaks
February 8, 2013
09:37 EDTNUAN, TCK, IRG, PLD, THOR, PNG, IT, CFN, ITW, CMI, TEVA, ANR, OSK, CYS, SKUL, DE, BG, RVBDOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Alpha Natural (ANR) downgraded to Fair Value from Buy at CRT Capital... Riverbed (RVBD) downgraded to Market Perform from Outperform at FBR Capital... Skullcandy (SKUL) downgraded to Neutral from Buy at Roth Capital... Teva (TEVA) downgraded to Hold from Buy at Canaccord... Bunge (BG) downgraded to Hold from Strong Buy at Feltl... CYS Investments (CYS) downgraded to Neutral from Buy at Compass Point... Deere (DE) downgraded to Buy from Strong Buy at ISI Group... Cummins (CMI) downgraded to Buy from Strong Buy at ISI Group.. Oshkosh (OSK) downgraded to Buy from Strong Buy at ISI Group... Illinois Tool Works (ITW) downgraded to Buy from Strong Buy at ISI Group... Gartner (IT) downgraded to Neutral from Overweight at Piper Jaffray... ProLogis (PLD) downgraded to Hold from Buy at Stifel Nicolaus... Nuance (NUAN) downgraded to Hold from Buy at Stifel Nicolaus... CYS Investments (CYS) downgraded to Hold from Buy at Stifel Nicolaus... PAA Natural Gas Storage (PNG) downgraded to Market Perform from Outperform at Raymond James... Ignite Restaurant (IRG) downgraded to Outperform from Strong Buy at Raymond James... CareFusion (CFN) downgraded to Outperform from Buy at CLSA... Riverbed (RVBD) downgraded to Neutral from Buy at Lazard Capital... Thoratec (THOR) downgraded to Market Perform from Outperform at Northland Securities... Teck Resources (TCK) downgraded to Neutral from Overweight at JPMorgan.
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April 11, 2014
06:08 EDTRVBDRiverbed initiated with a Neutral at SunTrust
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April 10, 2014
13:47 EDTOSKOshkosh Defense segment to lay off approximately 700 hourly workers
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10:00 EDTDEOn The Fly: Analyst Upgrade Summary
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09:04 EDTPLDPrologis preleases 211K square feet in Japan development
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08:53 EDTDEDeere upgraded to Neutral from Cautious at ISI Group
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07:24 EDTTHORInternational Society for Heart & Lung Transplantation to hold annual meeting
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April 9, 2014
16:23 EDTANROn The Fly: Closing Wrap
Stocks on Wall Street were higher after the minutes of the latest FOMC meeting struck a particularly dovish note. The averages, which were higher for the second straight session ahead of the minutes release, climbed to their highs over the final two hours of trade. Each index posted gains of over 1%, with the tech-heavy Nasdaq again the biggest winner. ECONOMIC EVENTS: The minutes for the March 18-19 FOMC showed that some committee members were concerned that its future interest rate projections could be misconstrued by the market as advocating tighter monetary policies. The minutes also showed that committee members expect to continue tapering the Fed's asset purchases if the economy performs as expected going forward. Wholesale inventories rose 0.5% in February, matching economists' forecast. COMPANY NEWS: Several auto majors were in the news, notably General Motors (GM), which fell 91c, or 2.64%, to $33.62 as the National Highway Traffic Safety Administration yesterday announced that it fined the automaker for failing to respond to the administration's inquiry into its recall related to faulty ignition switches in a timely manner. Analysts at Morgan Stanley also downgraded the stock to Underweight from Equal Weight. U.S.-listed shares of Toyota Motor (TM) fell $1.37, or 1.26%, to $107.73 after the company announced the recall of over 6M vehicles worldwide. A report from Automotive News said that Volkswagen (VLKAY) issued a stop-sale order on some of it newer-model cars, but U.S.-listed shares of the German automaker, which were upgraded earlier in the session by Bernstein to Outperform, were unfazed and gained $2.91, or 5.72%, to $53.78... Two notable initial public offerings took place today, with hotel chain operator La Quinta (LQ) gaining 12c, or 0.71%, to $17.12 and Chinese medical exam and screening center operator iKang Healthcare (KANG) gaining $1.20, or 8.57%, to $15.20, in their first day of trade. MAJOR MOVERS: Among the notable gainers was marketing software and solutions provider Constant Contact (CTCT), up $6.30, or 28.74%, to $28.22 after the company's preliminary first quarter revenue exceeded analysts' projection. Also higher was social media giant Facebook (FB), up $4.22, or 7.25%, to $62.41 after analysts at Susquehanna and SunTrust published positive commentary on the company. Among the noteworthy losers was Intuitive Surgical (ISRG), down $33.20, or 6.78%, to $456.64 after last night saying it expects first quarter revenue to come in well below expectations, though the stock was defended by no fewer than three analyst firms following the announcement. Also lower were a number of coal producers, including Alpha Natural Resources (ANR) and Walter Energy (WLT), which each lost more than 6%, and Arch Coal (ACI), which fell over 3%, after all three stocks were downgraded to Sell at UBS. INDEXES: The Dow was up 181.04, or 1.11%, to 16,437.18, the Nasdaq was up 70.91, or 1.72%, to 4,183.90, and the S&P 500 was up 20.22, or 1.09%, to 1,872.18.
14:00 EDTDEApril WASDE data imply modest row crop cash improvement, says Wells Fargo
Well Fargo estimates that the latest WASDE report from the USDA implies U.S. row crop farmer cash receipts declining 13% in 2013/14 from the prior year, which is a modest improvement from March's implied forecast. The firm notes that the data still suggests an apparent decrease in 2013/2014 farm cash flow and keeps its Underperform ratings on Deere (DE) and AGCO (AGCO).
12:18 EDTANROn The Fly: Midday Wrap
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12:04 EDTBGU.S. corn exports projected to increase 125M bushels
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12:00 EDTANRAlpha Natural falls 7.8%
Alpha Natural is down 7.8%, or 38c, to $4.50
10:20 EDTTCKHigh option volume stocks: CZR STZ TCK GIMO NCR
10:06 EDTANROn The Fly: Analyst Downgrade Summary
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09:00 EDTANRAlpha Natural falls 3.3%
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06:40 EDTANRAlpha Natural downgraded to Sell from Neutral at UBS
UBS downgraded Alpha Natural to Sell from Neutral and lowered its price target to $3 from $5 based on lower met coal price forecasts for the sector due to oversupply issues and the latest Q2 benchmark settlement that was lower than expected. The firm expects balance sheets to be stressed and cash burn to accelerate which could result in a 2016 liquidity crisis.
April 8, 2014
10:00 EDTANRAlpha Natural rises 6.8%
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08:46 EDTTEVATeva announces first approval, launch of generic Lovaza capsules in the U.S.
Teva (TEVA) announces the approval of the generic equivalent to Lovaza in the United States. Teva believes it is first-to-file and thus far is the only company to receive an approval from FDA. Teva plans to commence shipping immediately. Lovaza Capsules, marketed by GlaxoSmithKline (GSK), had annual sales of approximately $1.1B in the United States, according to IMS data as of December 2013.
April 7, 2014
14:09 EDTTEVASun Pharmaceutical agrees to acquire generic drugmaker Ranbaxy
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10:00 EDTOSKOn The Fly: Analyst Initiation Summary
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07:16 EDTOSKOshkosh initiated with a Neutral at Citigroup
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