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Stock Market & Financial Investment News

News Breaks
February 8, 2013
09:37 EDTCFN, NUAN, TCK, IRG, PLD, THOR, PNG, IT, BG, RVBD, ITW, CMI, TEVA, ANR, OSK, CYS, SKUL, DEOn 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.
News For ANR;RVBD;SKUL;TEVA;BG;CYS;CMI;DE;OSK;ITW;IT;PLD;NUAN;PNG;IRG;CFN;THOR;TCK From The Last 14 Days
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January 30, 2015
16:17 EDTANRAlpha Natural subsidiaries plan to reduce W. Virginia mining operations
Two operating affiliates of Alpha Natural Resources have notified their employees that certain West Virginia coal mines are being idled due to sustained weak market conditions and federal government regulations that have challenged the entire Central Appalachian mining industry. In accordance with the Worker Adjustment and Retraining Notification Act, notice has been given to approximately 91 Highland Mining Company employees, advising them of the expected idling of Highland Mining's Superior, North, and Trace Fork surface mines, and a reduction in workforce at its Reylas and Freeze Fork surface mines. The affected mines are located in Logan and Mingo Counties, West Virginia. In addition, seven workers with Rum Creek Coal's Anna Branch reclamation unit, working at the affected mines, will also be displaced. Approximately 25% of the affected workers will continue to perform reclamation work as three of the operations wind down to an idle state. The mine idlings and workforce reduction are expected to be completed by mid-April. These actions are being triggered by persistent weakness in U.S. and overseas coal demand and depressed price levels, along with regulatory pressures contributing to the premature retirement of coal-fired power plants across the nation. Excess supply of coal worldwide also has contributed to falling coal prices. The mines that are being idled produced 1.5M tons of thermal coal in FY14.
07:52 EDTCYSCYS Investments coverage assumed with a Neutral at Nomura
Target $8.75.
January 29, 2015
16:12 EDTRVBDRiverbed reports Q4 EPS 34c, consensus 32c
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15:37 EDTRVBDNotable companies reporting after market close
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10:05 EDTANROn The Fly: Analyst Initiation Summary
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07:20 EDTANRAlpha Natural initiated with an Underperform at Macquarie
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January 28, 2015
17:05 EDTANRAlpha Natural initiated with an Underperform at Macquarie
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January 27, 2015
12:22 EDTCMI, DECaterpillar sinks after guidance cut, drags down machinery peers
Shares of Caterpillar (CAT) are falling after the company reported lower than expected profit and reduced its full-year guidance to well below analysts' consensus outlook. WHAT'S NEW: Caterpillar reported fourth quarter earnings per share, excluding certain items, of $1.35, versus analysts' consensus outlook of $1.55. The company's Q4 revenue came in slightly above expectations. However, Caterpillar provided fiscal 2015 EPS guidance, excluding certain items, of about $4.75, versus the consensus outlook of $6.67, and its revenue outlook was about $50B, compared with analysts' consensus estimate of $55B. In October, Caterpillar had provided a "preliminary outlook" for 2015 of no change to a slight increase in its revenue, versus 2014 levels. In 2014 the company reported revenue of $55.18B. Caterpillar blamed its disappointing guidance on weak commodity prices that are negatively impacting its Energy & Transportation business, as well as its mining equipment unit. Caterpillar also lowered its expectations for construction equipment sales in China, noting that while its market position in China has improved, 2015 expectations for the construction industry in China are now lower. ANALYST REACTION: In a note to investors, Wells Fargo wrote that Caterpillar's results are a bad sign for other machinery makers, including Cummins (CMI), Deere (DE), and Terex (TEX). The firm kept a Market Perform rating on Caterpillar. PRICE ACTION: in early afternoon trading, Caterpillar fell 7.5% to $79.61, Cummins dropped 4.6% to $141, Deere declined 3% to $85.76, and Terex fell 4.4% to $22.50.
10:00 EDTCMIOn the Fly: Analyst Downgrade Summary
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09:10 EDTTEVAGevo announces Supreme Court rules in favor of Gevo
Gevo (GEVO) announced that the U.S. Supreme Court ruled in Gevo's favor and overturned an earlier Federal Circuit Court of Appeals ruling on the interpretation of key patent claims. The result is that Gevo's victory in the Delaware District Court is reinstated, and that the case has been remanded back to the Appeals Court for consideration in light of the new standard of appellate review that was decided in the Teva Pharmaceuticals USA, Inc., v. Sandoz, Inc. case last week. In Teva (TEVA), the Supreme Court ruled that the Appeals Court must apply a more stringent "clear error" standard of review, rather than a "de novo" standard of review. In Gevo's case, the Appeals Court must now apply the "clear error" standard of review and cannot set aside the Delaware District Court's findings of fact in Gevo's favor unless they were clearly erroneous. The Supreme Court's decision effectively reinstates Gevo's victory at the District Court where a final judgment of non-infringement was entered in Gevo's favor following the acknowledgment by Butamax Advanced Biofuels LLC that Gevo does not infringe Butamax's Patent Nos. 7,851,188 and 7,993,889.
09:08 EDTCMICummins downgraded to Market Perform from Outperform at First Global
08:58 EDTDE, CMICaterpillar guidance to be negative for shares, says Wells Fargo
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08:09 EDTPLDPrologis sees FY15 CFFO $2.04-$2.12, up 11% vs last year
Prologis sees FY15 GAAP EPS 40c-48c, year end occupancy 95.5%-96.5%; GAAP same store NOI growth 3.5%-4.5%; development stabilizations $1.7B-$1.9B; development starts $2.3B-$2.6B; building acquisitions $1.0B-$1.5B; contributions to co-investment ventures $1.3B-$1.8B; third-party dispositions $1.5B-$2.0B; strategic capital revenue $210M-$220M; and net G&A $238M-$248M.
08:06 EDTITWIllinois Tool Works backs FY15 EPS view of $5.15-$5.35, consensus $5.25
Organic revenue growth for the year is expected to be 2.5%-3.5%. Total revenue for the year is projected to decline 1%-2% due to the impact of foreign currency translation.
08:05 EDTPLDPrologis reports Q4 CFFO 48c vs. 43c last year
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08:05 EDTITWIllinois Tool Works sees Q1 EPS $1.13-$1.21, consensus $1.19
Sees Q1 organic revenue growth and total revenue to decline 2%-3% due to the impact of currency translation.
08:03 EDTITWIllinois Tool Works reports Q4 EPS $1.18, consensus $1.13
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07:11 EDTOSKOshkosh sees Q2 adjusted EPS in range of Q2 last year
Consensus 86c.
07:11 EDTOSKOshkosh backs FY15 adjusted EPS view $4.00-$4.25, consensus $3.97
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07:09 EDTOSKOshkosh reports Q1 adjusted EPS 41c, consensus 24c
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