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Stock Market & Financial Investment News

News Breaks
November 7, 2012
10:41 EDTQLTY, FNF, WLP, MIPS, ESRX, THS, HUM, EOG, DRL, DRH, AOLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AOL (AOL) downgraded to Underperform from Outperform at CLSA... DiamondRock (DRH) downgraded to Sell from Neutral at Goldman... Doral Financial (DRL) downgraded to Neutral from Buy at B. Riley... EOG Resources (EOG) downgraded to Hold from Buy at Societe Generale... Express Scripts (ESRX) downgraded to Buy from Conviction Buy at Goldman... Fidelity National (FNF) downgraded to Equal Weight from Overweight at Stephens... Humana (HUM) downgraded to Neutral from Buy at BofA/Merrill... MIPS Technologies (MIPS) downgraded to Hold from Buy at Craig-Hallum... MPG Office Trust (MPG) downgraded to Sell from Hold at Stifel Nicolaus... Quality Distribution (QLTY) downgraded to Neutral from Buy at SunTrust... TreeHouse Foods (THS) downgraded to Underperform from Neutral at Credit Suisse... Wellpoint (WLP) downgraded to Underperform from Buy at BofA/Merrill.
News For AOL;DRH;DRL;EOG;ESRX;FNF;HUM;MIPS;QLTY;THS;WLP From The Last 14 Days
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January 28, 2015
13:17 EDTAOLAOL sinks after downgrade, report of no Yahoo interest
Shares of AOL (AOL) are falling after Wells Fargo downgraded the stock to Market Perform from Outperform and CNBC’s David Faber reported that Yahoo has ruled out a potential acquisition of the company. WHAT'S NEW: AOL is likely to encounter increased competition in Internet video advertising, in the wake of acquisitions by Facebook (FB) and Yahoo (YHOO), Wells contended in a note to investors earlier today. Specifically, Facebook's acquisition of Liverail will enable the social network to improve the targeting of its video ads, while Yahoo is using its sales force to find buyers for the video assets of Brightroll, which Yahoo acquired. AOL is also encountering increased competition for internet video ad spending from Google's YouTube, Wells believes. Meanwhile, AOL, along with other Google search partners, may find it more difficult to maintain its current share of queries as more searches are conducted on mobile device, the firm stated. The superior functionality of Google's mobile web and app base search, along with the default search position that Google enjoys on Android devices, create headwinds for AOL and its peers, the firm stated. Wells cut its valuation range on AOL to $49-$51 from $55-$$57. WHAT'S NOTABLE: Activist investor Starboard Value has called on Yahoo to explore the possibility of combining with AOL. CNBC's David Faber, however, after speaking last night with Yahoo CEO Marissa Mayer, reported that the search giant has ruled out a potential acquisition of AOL. The interview followed Yahoo’s fourth quarter results and announcement that it would carry out a tax free spin-off of its remaining stake in Chinese e-commerce giant Alibaba (BABA). PRICE ACTION: In mid-afternoon trading, AOL fell 8% to $44, while yahoo rose 2% to $49.
10:21 EDTDRLDoral Financial issued Prompt Corrective Action Directive from FDIC
Doral Financial disclosed in a filing earlier that on January 26, the board of the bank received a letter from the FDIC notifying the board that the FDIC issued against the bank a Prompt Corrective Action Directive, which became effective immediately upon its receipt by the bank. The Directive directs the Bank to promptly increase the amount of its Tier 1 capital to a level sufficient to restore the Bank to the capital category of “adequately capitalized” and/or accept an offer to combine with another insured depositary institution. "The Bank believes the inclusion of the payment obligations from Puerto Rico is appropriate as the Bank has a court order validating the obligation of Puerto Rico under the Closing Agreement. The Bank believes its previously submitted capital restoration plan, while not accepted by the FDIC, presents the best possible outcome for all constituencies," Doral said. Also, on Friday, January 23, the Federal Home Loan Bank of New York notified its wholly-owned subsidiary Doral Bank that the bank’s borrowing terms under its credit facility had been modified from 30 days to overnight and that, barring any significant and material events occurring that impact the financial condition of the bank, the bank is eligible to borrow from its available credit line on an overnight basis in a business as usual environment. The FHLB also notified the bank that as a safe and sound practice and in order to comply with the FHLB’s regulatory guidelines, the FHLB could not extend credit to a capital-deficient member that has positive tangible capital if it receives written notice from the Federal Deposit Insurance Corporation that the member’s use of the FHLB’s advances is prohibited. The bank is currently assessing the materiality and magnitude of the impact of these changes in its liquidity forecasts.
09:59 EDTESRX, AOLOn The Fly: Analyst Downgrade Summary
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07:31 EDTAOLAOL downgraded on rising competition at Wells Fargo
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06:27 EDTESRXExpress Scripts downgraded to Market Perform from Outperform at FBR Capital
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05:30 EDTAOLAOL downgraded to Market Perform from Outperform at Wells Fargo
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January 27, 2015
13:43 EDTDRHJPMorgan reports 5.4% passive stake in DiamondRock
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12:45 EDTAOLEarnings Preview: Yahoo may announce Alibaba plans with Q4 earnings
Yahoo (YHOO) is expected to report fourth quarter earnings after the market close on Tuesday, January 27 with a conference call scheduled for 5:00 pm ET. Yahoo is a digital media company that provides properties and services such as Yahoo! Search and Yahoo! News. EXPECTATIONS: Analysts are looking for earnings per share of 29c on revenue of $1.19B. The consensus range is 17c-57c for EPS, and $1.16B-$1.22B for revenue, according to First Call. LAST QUARTER: Yahoo reported Q3 EPS 52c against estimates of 30c on revenue ex-tac of $1.09B against estimates of $1.04B. The company reported Q3 GAAP display revenue down 5% to $447M and Q3 AAP search revenue up 4% to $452M. Looking ahead, Yahoo expected Q4 revenue ex-TAC $1.14B-$1.18B, Q4 non-GAAP net income $190M-$230M, and Q4 adjusted EBITDA $340M-$380M. Yahoo also said Tumblr monthly active users exceeds 1B, up 6% vs. last year. In regards to the Alibaba (BABA) sale, Yahoo expected taxes of $3.3B in Q1. NEWS: In the past quarter, Starboard and other major Yahoo supporters have voiced their support for a combination with AOL (AOL). In a letter to Yahoo's CEO and board, Starboard also said Yahoo should explore monetization for non-core minority equity investments. In a separate NY Times report, other major unnamed shareholders are collaborating to push for a merger with AOL. The Associated Press also reported that Yahoo may announce its plans for Alibaba during its Q4 earnings report. The report noted that investors hope CEO Marissa Mayer will spin off the $37B stake to ease potential taxes. Yahoo has also been rumored to be in talks to acquire a cable network. Re/code's Kara Swisher, however, said Yahoo is not buying CNN and Variety reported Yahoo has not held talks to buy Food Network from Scripps (SNI). During a Credit Suisse Technology Conference in December, Yahoo's CFO said the company's total headcount has been taken down. The company also noted that its PC display business has been challenged, but mobile is growing. IT will continue to invest in Search and is looking at new ways to monetize Flickr. STREET RESEARCH: Ahead of the Q4 earnings, BGC Financial said Yahoo is unlikely to announce a spin-out with earnings. Citigroup meanwhile believes an Alibaba spin-off will likely occur in the second half of 2015 as Yahoo begins to return to focus on its core business. Citi adds that core Yahoo is showing "green shoots "as fast growing mobile revenue become a bigger part of overall results. FBR Capital sees positive risk/reward for Yahoo shares ahead of Q4 earnings, saying expectations are low for core Yahoo business at a time when engagement is improving. PRICE ACTION: Yahoo shares have risen more than 19%, since the first day of trading following the company's Q3 report. In Tuesday afternoon trading ahead of the Q4 report, Yahoo shares are trading up 2.3%.
07:47 EDTAOLAOL Platforms technology president Amir Ashkenazi leaves company, Re/code says
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06:13 EDTAOLAOL shutting down gaming site Joystiq, more closures to follow, Re/code says
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January 26, 2015
12:39 EDTHUM, WLPHHS Secretary orders Medicare to change payment method, WSJ says
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07:11 EDTAOLAOL 'drastically' reorganizing advertising sales staff, Re/code reports
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January 25, 2015
17:37 EDTFNFRemy International looks attractive, Barron's says
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January 21, 2015
10:28 EDTESRXLeerink pharmaceuticals analyst holds an analyst/industry conference call
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10:01 EDTESRXOn the Fly: Analyst Initiation Summary
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07:36 EDTESRXExpress Scripts initiated with an Equal Weight at Stephens
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January 20, 2015
06:44 EDTESRXExpress Scripts downgraded to Neutral from Buy at UBS
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January 16, 2015
16:27 EDTDRLDoral Financial CFO Nancy Reinhard resigns, effective January 19
On January 12, Nancy Reinhard notified Doral Financial that she was considering resigning her position as Acting CFO and Principal Accounting Officer of the company. On January 16, Reinhard did in fact resign from these positions effective January 19. The company is working to fill the positions of CFO and Principal Accounting Officer.
10:47 EDTHUMBofA/Merrill healthcare facilities analyst analyst/industry conference call
Healthcare Facilities & Managed Care Analyst Bressler discusses the legislative and regulatory outlook for the industry for 2015 on an Analyst/Industry conference call to be held on January 23 at 2 pm.
January 14, 2015
05:57 EDTDRHLodging sector downgraded to Market Weight at Wells Fargo
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