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Stock Market & Financial Investment News

News Breaks
February 8, 2013
09:37 EDTTCK, THOR, CFN, IRG, PNG, NUAN, PLD, IT, ITW, OSK, DE, CMI, CYS, BG, TEVA, SKUL, RVBD, ANROn 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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August 12, 2014
13:47 EDTDEDeere August 86 straddle priced for 3.2% move into Q3
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12:37 EDTNUANOn The Fly: Midday Wrap
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11:52 EDTNUANNuance shares fall over 10% as Q3 results, guidance disappoints
Shares of voice and language solutions provider Nuance (NUAN) are sharply lower after the company's guidance missed analysts' expectations. WHAT'S NEW: The company reported third quarter earnings per share 27c on revenue of $486.8M, against analysts' estimates of 27c and $498.56M, respectively. The company's Q3 non-GAAP operating margin was 23.5%, down from 28.1% in the year-ago period. Despite the underperformance in revenue, Nuance said its EPS came in at the midpoint of its guidance range as a result of cost reductions and expense control. The company also reported year over year bookings growth of 17% and deferred revenue growth of 32%. WHAT'S NOTABLE: Looking ahead, Nuance forecast fourth quarter EPS of 24c-29c and $500M-$520M, both falling well short of analysts' estimates of 34c and $540.49M, respectively. The comany also sees fiscal year 2014 EPS of $1.03-$1.08 on revenue of $1.97B-$1.99B, below estimates of $1.13 and $2.02B. In prepared remarks, the company said the transition to recurring revenue models continue to happen faster than it had anticipated, weighing heavily on near-term revenue growth and a bookings growth rate for recurring revenue type that is higher than overall bookings growth rate. ANALYST OPINION: This morning, Craig-Hallum shared its concerns about the competitive and operating environments in both Healthcare and Mobile segments. Although the firm said bookings were not as bad as the top-line miss suggests, Nuance's results open "another series of questions as to how far we really are through this transition." It maintained its Hold rating and cautious stance on the company. Canaccord analysts, meanwhile, view the sell-off as an over-reaction and believes the higher booking numbers make the stock relatively inexpensive. The firm is confident in Nuance's pipeline heading into Q4 and 2015. PRICE ACTION: In late-morning trading, shares of Nuance dropped $1.94, or 10.72%, to $16.16.
10:59 EDTRVBDRiverbed: ADC solution market growing slower than expected
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10:23 EDTITWIllinois Tool Works repeats view of FY14 EPS $4.50-$4.62, consensus $4.59
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10:21 EDTITWIllinois Tool Works repeats view of Q3 EPS $1.19-$1.27, consensus $1.24
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10:06 EDTSKULSkullcandy gaps up following upgrade
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10:00 EDTSKULOn The Fly: Analyst Upgrade Summary
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10:00 EDTTCKOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Applied Micro Circuits (AMCC) downgraded to Market Perform at FBR Capital... CSX (CSX) downgraded to Neutral from Outperform at Macquarie... Southwestern Energy (SWN) downgraded to Market Perform from Outperform at BMO Capital... Steven Madden (SHOO) downgraded to Neutral from Buy at Citigroup... Teck Resources (TCK) downgraded to Sell from Neutral at Goldman... United Technologies (UTX) downgraded at Cowen... Walter Investment (WAC) downgraded to Market Perform from Outperform at FBR Capital... Whiting USA Trust (WHX) downgraded to Underperform at Raymond James... magicJack (CALL) downgraded to Hold from Buy at Canaccord.
07:58 EDTNUANNuance sell-off an over reaction, stock inexpensive, says Canaccord
Canaccord noted Nuance reported a revenue miss but that bookings were higher. The firm is confident in Nuance's pipeline heading into Q4, expects better operating leverage in 2015 and thinks its shares will grind higher as the company transitions to a recurring revenue model. Canaccord has a Buy rating and $20 price target on the stock.
06:50 EDTDEDeere volatility elevated into Q3 and outlook
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05:32 EDTSKULSkullcandy upgraded to Hold from Underperform at Jefferies
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05:26 EDTTCKTeck Resources downgraded to Sell from Neutral at Goldman
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August 11, 2014
18:29 EDTNUANOn The Fly: After Hours Movers
UP AFTER EARNINGS: DealerTrack (TRAK), up 11.3%... DTS Inc. (DSTI), up 12.8%... Globalstar (GSAT), up 1.6%... Halozyme Therapeutics (HALO), up 2.4%. ALSO HIGHER: Intercept Pharmaceuticals (ICPT), up 57.7% after announcing that 46% of OCA group met FLINT endpoint as well as reporting second quarter results... Cempra (CEMP), up 5.8% following Intercept Pharmaceuticals' FLINT announcement... Scotts Miracle-Gro (SMG), up 3.6% after board approves a $500M share repurchase authorization and announces a $2.00 per share special dividend. DOWN AFTER EARNINGS: Galena Biopharma (GALE), down 13.4%... Nuance Communications (NUAN), down 9.7%... Millennial Media (MM), down 7.1%... MasTec (MTZ), down 3.6%... Turtle Beach (HEAR), down 3.5%... magicJack (CALL), down 5.8%... Geron (GERN), down 2.4%. ALSO LOWER: Sprouts Farmers Market (SFM), down 3.7% after filing to sell 15M shares of common stock for holders.
17:52 EDTNUANNuance falls 9% after reporting Q3 earnings, guidance
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16:12 EDTNUANNuance sees FY14 EPS $1.03-$1.08, consensus $1.13
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16:09 EDTNUANNuance sees Q4 EPS 24c-29c, consensus 34c
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16:03 EDTNUANNuance reports Q3 EPS 27c, consensus 27c
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15:32 EDTNUANNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Ventas (VTR), consensus $1.09; Nuance Communications (NUAN), consensus 27c; Intercept Pharmaceuticals (ICPT), consensus (12c); Rackspace Hosting (RAX), consensus 16c; Opko Health (OPK), consensus (9c); Mindray Medical (MR), consensus 54c; Chimera Investment (CIM), consensus 9c; Globalstar (GSAT), one estimate (4c); 51job (JOBS), consensus 32c; Dealertrack Technologies (TRAK), consensus 373c; Caesars Entertainment (CZR), consensus ($1.19); Towerstream (TWER), consensus (10c); Resolute Energy (REN), consensus 1c; Forest Oil (FST), consensus (2c).
11:39 EDTNUANNuance August 18 straddle priced for 7.4% move into Q3
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