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Stock Market & Financial Investment News

News Breaks
February 7, 2014
09:58 EDTDO, VRSN, CI, CHK, PRGO, WWWW, CS, RSTI, OUTR, SPR, PMFG, MMS, ELON, FLDM, FWM, G, GHDX, IRBT, LOW, AOLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AOL (AOL) downgraded to Neutral from Buy at BofA/Merrill... Echelon (ELON) downgraded to Hold from Buy at Needham... Fairway Group (FWM) downgraded to Hold from Buy at BB&T... Fluidigm (FLDM) downgraded to Market Perform from Outperform at Cowen... Genomic Health (GHDX) downgraded to Neutral from Outperform at Credit Suisse... Genpact (G) downgraded to Neutral from Overweight at JPMorgan... iRobot (IRBT) downgraded to Underweight from Neutral at JPMorgan... Lowe's (LOW) downgraded to Neutral from Buy at Goldman... Maximus (MMS) downgraded to Neutral from Buy at Citigroup... PMFG, Inc. (PMFG) downgraded to Hold from Buy at Stifel... Spirit AeroSystems (SPR) downgraded to Hold from Buy at KeyBanc... VeriSign (VRSN) downgraded to Sell from Neutral at Citigroup... Cigna (CI) downgraded to Neutral from Positive at Susquehanna... Chesapeake (CHK) downgraded to Sector Perform from Outperform at Howard Weil... Perrigo (PRGO) downgraded to Neutral from Buy at B. Riley... Web.com (WWWW) downgraded to Hold from Buy at Craig-Hallum... Credit Suisse (CS) downgraded to Neutral from Outperform at Macquarie... Rofin-Sinar (RSTI) downgraded to Neutral from Buy at Longbow... Outerwall (OUTR) downgraded to Market Perform from Outperform at Northland Securities... Diamond Offshore (DO) downgraded to Sell from Neutral at Global Hunter.
News For AOL;ELON;FLDM;FWM;G;GHDX;IRBT;LOW;MMS;PMFG;SPR;VRSN;CI;CHK;PRGO;WWWW;CS;RSTI;OUTR;DO From The Last 14 Days
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September 22, 2014
06:54 EDTCICigna removed from short-term buy list at Deutsche Bank
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06:13 EDTOUTROuterwall volume declines likely more of a 'slow bleed,' says Piper Jaffray
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05:46 EDTOUTROuterwall downgraded to Sell from Neutral at B. Riley
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September 20, 2014
20:43 EDTCHKChesapeake, Weatherford seem attractive, Barron's says
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September 19, 2014
18:20 EDTLOWLowe's CEO Niblock sells nearly $28M of company stock near record high
In regulatory filings, it was disclosed that Lowe's CEO Robert A. Niblock sold nearly $28M worth of company stock from September 9-11. Lowe's stock has been climbing steadily over the past three months, and it made both a 52-week and record high of $54.81 on Friday, September 19.
07:18 EDTWWWWWeb.com to hold a summit
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06:49 EDTCIGovernment says 7.3M in private Obamacare plans, NY Times reports
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September 18, 2014
17:34 EDTFWMFairway Group names Jack Murphy as CEO
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15:10 EDTAOLAOL spikes higher in late session trading, levels to watch
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14:16 EDTAOLRumor: AOL moves up on renewed takeover chatter
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10:40 EDTLOWPier 1 Imports falls to 12-month low after weak Q2, lowered outlook
Shares of home furnishings retailer Pier 1 Imports (PIR) hit a 12-month low after the company's second quarter results fell below analysts' consensus estimates and it reduced its fiscal 2015 earnings per share outlook. WHAT'S NEW: Pier 1 Imports reported Q2 EPS of 10c on revenue of $418.6M, missing analysts' consensus estimates of 14c and $426.02M, respectively. Same-store-sales for the quarter were up 4.5%. The retailer lowered its FY15 EPS outlook to 95c-$1.05 from $1.14-$1.22. Analysts' consensus estimates for FY15 EPS prior to the earnings report was $1.13. The company sees FY15 SSS in the mid-to-high single digits and gross profit, as a percentage of sales, are expected to be 40.5%-41.5%. Pier 1 Imports CEO Alex Smith said that he foresees online sales to surpass $400M in 2016. WHAT'S NOTABLE: During the company's conference call, Pier 1 Imports said that it expects to see improving merchandise margins in coming quarters with fewer coupons. The company noted plans to continue returning cash to shareholders in the form of dividends and share buybacks. ANALYST REACTION: This morning, Wells Fargo analyst Matt Neemer downgraded Pier 1 Imports to Market Perform from Outperform. He feels that the stock will be a difficult one to own in the medium term as the retailer moves towards a multi-channel approach. Neemer believes that the company has a difficult journey ahead as it cuts broad-based discounters, and he feels that consumers will take time to get accustomed to the new messaging. He cut his price target range to $15-$16 from $19-$20 for the company. Barclays analyst Alan Rifkin downgraded Pier 1 Imports to Equal Weight from Overweight due to slow revenue growth and heightened promotions. He feels that that the "soft" revenues could continue. He believes that the company's elongated online profitability pipeline and increased promotions are certain to be a burden on the business in ways that the company had not initially thought. Rifkin said that growing the top line will be even harder in the absence of promotions. He reduced his price target for shares to $14 from $18. Argus analyst Christopher Graja downgraded Pier 1 Imports to Hold from Buy due to the company's lower than anticipated Q2 earnings. He feels that in terms of the home furnishings market, companies such as Williams-Sonoma (WSM), Home Depot (HD) and Lowe's (LOW) are more "resilient" for shareholders. Pier 1 Imports was also downgraded to Hold from Buy at BB&T. PRICE ACTION: In morning trading, Pier 1 Imports fell $2.63, or 16.99%, to $12.90. Including today's pull back, the stock is down approximately 45.2% over the past 12 months. OTHERS TO WATCH: Other companies in the home furnishings space include Restoration Hardware (RH), and Bed Bath & Beyond (BBBY).
07:52 EDTCSUBS Chair says litigation bigger worry than stress test, Bloomberg reports
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06:39 EDTCSEuropean banks take out EUR83B of loans from central bank, NY Times says
European banks agreed to take out EUR83B in low interest loans from the European Central Bank, as part of a program in which all of the funds must be loaned to businesses or individuals, or repaid to the central bank within two years, according to The New York Times. Several analysts had said that they would be disappointed if banks took out less than EUR100B in loans, but a number of analysts said that a second round of the program, due to occur in December after stress tests have been completed, may be more popular, the newspaper stated. Publicly traded European banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS). Reference Link
September 17, 2014
13:45 EDTCSJulius Baer has not had talks about a sale with Credit Suisse, Bloomberg reports
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10:00 EDTCIOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AB InBev (BUD) upgraded to Hold from Sell at Societe Generale... Baker Hughes (BHI) upgraded to Outperform from Sector Perform at Howard Weil... Bank of the Ozarks (OZRK) upgraded to Buy from Hold at BB&T... Bill Barrett (BBG) upgraded to Buy from Neutral at Mizuho... Cepheid (CPHD) upgraded to Buy from Hold at Cantor... Cigna (CI) upgraded to Positive from Neutral at Susquehanna... Extra Space Storage (EXR) upgraded to Buy from Hold at Jefferies... GNC Holdings (GNC) upgraded to Outperform from Neutral at Wedbush... MB Financial (MBFI) upgraded at DA Davidson... Mondelez (MDLZ) upgraded to Buy from Hold at Societe Generale... Radian Group (RDN) upgraded to Buy from Neutral at Compass Point... Skullcandy (SKUL) assumed with a Overweight from Neutral at Piper Jaffray... Under Armour (UA) upgraded to Overweight from Neutral at Piper Jaffray.
08:38 EDTCICigna upgraded to Positive from Neutral at Susquehanna
As previously reported, Susquehanna upgraded Cigna to Positive from Neutral. The firm believes Cigna's earnings are poised to accelerate driven by a reduction in ACA related losses, conservative medical cost ratio assumptions, buybacks, and normal business growth. Price target raised to $115 from $77.
07:47 EDTFLDMFluidigm shares recommended at Maxim
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07:39 EDTIRBTMorningstar to hold a conference
Management Behind the Moat Conference to be held in Chicago on September 17-18.
07:06 EDTCICigna upgraded to Positive from Neutral at Susquehanna
06:16 EDTCSCredit Suisse under fire from regulators over leveraged lending, WSJ says
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