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Stock Market & Financial Investment News

News Breaks
February 11, 2013
10:14 EDTWFC, NVO, MNRO, TSO, BPL, SSD, VMW, KR, TFX, USB, SWFT, RNST, STR, ATRO, GPK, BBVA, FUL, HTLD, NKE, MRTN, KNX, AOLOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AOL (AOL) upgraded to Outperform from Sector Perform at RBC Capital... Astronics (ATRO) upgraded to Buy from Hold at KeyBanc... Banco Bilbao (BBVA) upgraded to Neutral from Underweight at JPMorgan... Graphic Packaging (GPK) upgraded to Buy from Hold at Deutsche Bank... H.B. Fuller (FUL) upgraded to Buy from Hold at Deutsche Bank... Heartland Express (HTLD) upgraded to Buy from Hold at KeyBanc... Knight Transportation (KNX) upgraded to Buy from Hold at KeyBanc... Marten Transport (MRTN) upgraded to Buy from Hold at KeyBanc... Nike (NKE) upgraded to Overweight from Neutral at JPMorgan... Questar (STR) upgraded to Equal Weight from Underweight at Morgan Stanley... Renasant (RNST) upgraded to Outperform from Market Perform at Keefe Bruyette... Swift Transportation (SWFT) upgraded to Buy from Hold at KeyBanc... Novo Nordisk (NVO) upgraded to Buy from Neutral at Nomura... Monro Muffler (MNRO) upgraded to Buy from Neutral at ISI Group... Tesoro (TSO) upgraded to Buy from Neutral at BofA/Merrill... Buckeye Partners (BPL) upgraded to Neutral from Sell at Citigroup... Simpson Manufacturing (SSD) upgraded to Buy from Neutral at DA Davidson... VMware (VMW) upgraded to Overweight from Equal Weight at Evercore... Kroger (KR) upgraded to Neutral from Sell at Goldman... Teleflex (TFX) upgraded to Overweight from Equal Weight at Morgan Stanley... U.S. Bancorp (USB) upgraded to Hold from Sell at Stifel Nicolaus... Wells Fargo (WFC) upgraded to Buy from Hold at Stifel Nicolaus.
News For AOL;ATRO;GPK;BBVA;FUL;HTLD;NKE;MRTN;KNX;STR;RNST;SWFT;NVO;MNRO;TSO;BPL;SSD;VMW;KR;TFX;USB;WFC From The Last 14 Days
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October 14, 2014
10:49 EDTWFCWells Fargo says spending more on compliance, risk management
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10:26 EDTWFCWells Fargo sees Q4 mortgage originations lower due to seasonality
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10:16 EDTWFCWells Fargo CEO says housing market 'not fully recovered'
CEO John Stumpf says path to full economic recovery remains uneven, but says "optimistic" about the future. Says has never seen credit better in his 32 years with the company. Says housing market has not fully recovered, as there are several factors holding it back from full recovery, including unavailable inventory. Sees housing market continuing recovery. Says residential real estate market better, but not fully recovered. Says U.S. economy benefiting from domestic oil and gas. Says household formation still at low levels. Says has significant amount of cash to deploy. Sees ability to grow net interest income over time. Comments made on the Q3 earnings conference call. Wells Fargo shares are down 1.6% in morning trading.
09:40 EDTWFCWells Fargo sees operating within 55%-59% efficiency ratio range in Q4
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09:13 EDTWFCOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Johnson & Johnson (JNJ), up 1%... Dominos Pizza (DPZ), up 2.7%. ALSO HIGHER: Citigroup (C), up 2.5% following earnings report, announcement of plans to exit consumer businesses in 11 markets... MagneGas (MNGA), up 14% after signing Letter of Intent with Pioneer Recycling... Skyworks (SWKS), up 6% after raising its outlook for Q4. Shares of peers Avago (AVGO), NXP Semiconductors (NXPI) and RF Micro Devices (RFMD) are also moving higher in pre-market trading after Skyworks pointed to "broad-based strength" of its business in raising its outlook... Halcon Resources (HK), up 6% after upgraded at KLR Group... Quantum (QTM), up 8.8% after issuing Q2 earnings guidance. LOWER: Wells Fargo (WFC), down 1.4% after reporting in-line Q3 earnings... JPMorgan (JPM), down 1.8% after Q3 headline earnings miss... Las Vegas Sands (LVS), down 1% following downgrade at BofA Merrill Lynch.
08:16 EDTWFCWells Fargo reports book value per share $31.55 at quarter end
Reports Q3 net interest margin 3.06%, down from 3.15% at June 30 and down from 3.39% in prior year period.
08:14 EDTWFCWells Fargo reports Q3 Home Lending orignations $48B
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08:09 EDTWFCWells Fargo continues to see signs of steadily improving economy
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08:08 EDTWFCWells Fargo reports $300M reserve release due to improved credit quality
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08:03 EDTWFCWells Fargo reports Q3 EPS $1.02, consensus $1.02
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05:51 EDTVMWBrocade announces collaboration with VMware
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October 13, 2014
15:24 EDTWFC, HTLDNotable companies reporting before tomorrow's open
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15:24 EDTMRTN, RNSTNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Pinnacle Financial (PNFP), consensus 51c; GenCorp (GY), consensus 19c; Renasant (RNST), consensus 48c; Marten Transport (MRTN), consensus 25c; ShoreTel (SHOR), consensus 4c.
13:40 EDTWFCWells Fargo October volatility increases into Q3 and guidance
Wells Fargo October call option implied volatility is at 31, November is at 20, January is at 19; compared to its 26-week average of 16 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on October 14.
12:13 EDTAOLYahoo upgraded as BGC sees higher chances for tax efficient monetization
Research firm BGC Partners upgraded its rating on Yahoo (YHOO) to Buy from Hold, saying that the chances of the company monetizing its assets in a more tax efficient manner have increased now that Alibaba (BABA) has come public. Among the possible scenarios, Yahoo may be acquired by Alibaba, the firm added. WHAT'S NEW: Yahoo's chances of paying a relatively low tax rate on the sale of its stakes in Alibaba and Yahoo Japan, a Japanese Internet company, have risen, BGC Financial analyst Colin Gillis stated. Yahoo could owe up to $15B of taxes on its sale of the assets, the analyst estimated. If Yahoo pays full tax liability, its stakes would be worth $43.5B. If it pays no taxes, the assets would be worth $58.5B, he estimated. Gillis set his price target on Yahoo at $50, representing the midpoint of the two scenarios, he stated. Among various scenarios that could play out, Alibaba could choose to buy Yahoo and subsequently unload Yahoo's core business and the American company's stake in Yahoo Japan, the analyst said. Yahoo shareholders could receive cash and shares of Alibaba as part of such a deal, Gillis stated. If Yahoo is not acquired by Alibaba, the American company should combine with AOL (AOL), as recently proposed by activist investor Starboard Value, Gillis contended. Merging with AOL could accelerate Yahoo's revenue growth by over 50% and increase its EBITDA by over 35%, Gillis estimated. PRICE ACTION: In early afternoon trading, Yahoo fell 1% to $39.18.
11:23 EDTTSOStocks with call strike movement; APC TSO
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07:19 EDTWFCAmEx, Capital One profits seen boosted by credit card 'sweet spot,' WSJ says
Credit card players such as American Express (AXP) and Capital One (COF), as well as banks with significant card units like JPMorgan (JPM), stand to benefit from the U.S. card industry's "sweet spot" of moderate economic growth, low interest rates and consumers who are better managing payments while growing their spending, said The Wall Street Journal, which noted that consulting firm R.K. Hammer estimates U.S. card issuers' revenue will grow 9% this year to $158.6B. Other U.S. banks with credit card units include Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC) and other card companies include Visa (V) and MasterCard (MA). Reference Link
06:44 EDTUSB, WFCRegulators seeking banks' auto loan data, Reuters reports
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00:04 EDTWFC, USBBanking regulators want more disclosure on auto loans, Reuters says
Banking regulators are requesting that banks provide more details on their auto loan portfolios, says Reuters. Balances remaining on auto loans are rising and about a fifth of the loans are subprime, added Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Capital One (COF), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
October 12, 2014
13:03 EDTUSB, WFCBanks agree on derivatives procedures for future crisis scenario, WSJ says
Meeting at the Federal Reserve in Washington, top banking executives from 18 large U.S., European and Japanese banks agreed in principle to wait up to 48 hours before seeking to terminate derivatives contracts and collect associated payments from a troubled financial institution, says the Wall Street Journal. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
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