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Stock Market & Financial Investment News

News Breaks
April 23, 2014
10:01 EDTATHN, MDSO, PLD, SANM, SPWR, TE, TMK, VRX, VSI, WOSYY, LL, ILMN, HAFC, AEM, AGN, COG, CREE, ETFC, EFX, FLDM, GSK, GLF, AOSOn The Fly: Analyst Upgrade Summary
A.O. Smith (AOS) upgraded at BMO Capital... Agnico-Eagle (AEM) upgraded to Outperform from Sector Perform at RBC Capital... Allergan (AGN) upgraded to Overweight from Neutral at JPMorgan... Cabot Oil & Gas (COG) upgraded to Buy from Hold at Societe Generale... Cree (CREE) upgraded to Buy from Hold at Summit Research... E-Trade (ETFC) upgraded to Outperform from Market Perform at Wells Fargo... Equifax (EFX) upgraded at Credit Suisse... Fluidigm (FLDM) upgraded to Buy from Neutral at Mizuho... GlaxoSmithKline (GSK) upgraded to Buy from Hold at Argus... GulfMark Offshore (GLF) upgraded to Buy from Neutral at Global Hunter... Hanmi Financial (HAFC) upgraded to Outperform from Market Perform at Fig Partners... Illumina (ILMN) upgraded to Buy from Hold at Maxim... Lumber Liquidators (LL) upgraded to Buy from Neutral at Longbow... Medidata Solutions (MDSO) upgraded to Buy from Neutral at B. Riley... Prologis (PLD) upgraded to Buy from Neutral at ISI Group... Sanmina (SANM) upgraded to Buy from Hold at Craig-Hallum... SunPower (SPWR) upgraded to Buy from Hold at Deutsche Bank... TECO Energy (TE) upgraded to Neutral from Sell at UBS... Torchmark (TMK) assumed with a Market Perform from Underperform at Keefe Bruyette... Valeant (VRX) upgraded to Buy from Hold at TD Securities... Vitamin Shoppe (VSI) upgraded at Sterne Agee... Wolseley (WOSYY) upgraded to Outperform from Neutral at Credit Suisse... athenahealth (ATHN) upgraded to Overweight from Equal Weight at Morgan Stanley.
News For AOS;AEM;AGN;COG;CREE;ETFC;EFX;FLDM;GSK;GLF;HAFC;ILMN;LL;MDSO;PLD;SANM;SPWR;TE;TMK;VRX;VSI;WOSYY;ATHN From The Last 14 Days
Check below for free stories on AOS;AEM;AGN;COG;CREE;ETFC;EFX;FLDM;GSK;GLF;HAFC;ILMN;LL;MDSO;PLD;SANM;SPWR;TE;TMK;VRX;VSI;WOSYY;ATHN the last two weeks.
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July 10, 2014
16:25 EDTLLOn The Fly: Closing Wrap
Stocks on Wall Street began the session deep in negative territory, as fears about the health of one of Portugalís largest banks, coupled with weak economic data out of Italy, prompted a sell-off in Europe, which spilled over to the U.S. The major averages moved generally higher after the open, though the early losses proved too much to overcome. The reignited fears about Europe's periphery come just as the U.S. corporate earnings season is set to pick up in earnest next week. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped 11K to 304K in the week ended July 5. Wholesale inventories rose 0.5% in May, while sales edged up 0.7%, which were both a little below expectations. In Europe, concerns about the periphery rose again as the parent company of Portugal's Espirito Santo bank missed a debt payment, leading the country's interest rates higher and equities in the Eurozone lower. Also, Italy's industrial output saw its steepest monthly fall since late 2012, having dropped 1.2% in May. In China, trade performance improved in June but still missed market forecasts. Exports rose 7.2% in June from a year earlier, missing the consensus forecast for a rise of 10.6%, while imports grew 5.5% in the month, versus the 5.8% growth expectation. COMPANY NEWS: Shares of Verizon (VZ) advanced 74c, or 1.51%, to $49.64 to lead the handful of gainers on the Dow Jones Industrial Average. The rise came after Verizon CEO Lowell McAdam said in an interview on CNBC that his company added over 1.4M postpaid subscribers in Q2, with "record" tablet growth and "very strong" smartphone growth. Afterward, Wells Fargo said in a note to investors that the net adds were higher than the firm's recently increased estimate and above Street consensus... Conversely, Home Depot (HD) was the Dow's worst performer, falling $1.33, or 1.65%, to $79.40. After hardwood floors retailer Lumber Liquidators (LL) and farm products retailer Tractor Supply (TSCO) pre-announced weaker than expected Q2 results, Deutsche Bank analyst Mike Baker reduced his estimates for Home Depot and peer Lowe's (LOW), explaining that the comparative sales of those two large home improvement retailers have historically had a positive correlation with those of Tractor Supply and Lumber Liquidators. MAJOR MOVERS: Among the notable gainers was AmREIT (AMRE), which rose $3.25, or 16.93%, to $22.45 after Regency Centers (REG) offered to acquire the company for $22 per share, payable in cash and/or stock. Also higher was Cray (CRAY), which rallied $4.27, or 15.69%, to $31.49 after the company announced it has been awarded a $174M supercomputer deal from the National Nuclear Security Administration. Among the noteworthy losers was sandwich maker Potbelly (PBPB), which plunged $3.68, or 25.12%, to $10.97 after the company's second quarter and fiscal 2014 outlook fell significantly short of analysts' consensus estimates. Also lower was Sarepta Therapeutics (SRPT), which sunk $3.35, or 12.94%, to $22.54 after the company announced data through week 144 from its eteplirsen study in patients with Duchenne muscular dystrophy. INDEXES: The Dow dropped 70.54, or 0.42%, to 16,915.07, the Nasdaq fell 22.83, or 0.52%, to 4,396.20, and the S&P 500 declined 8.15, or 0.41%, to 1,964.68.
12:21 EDTLLOn The Fly: Midday Wrap
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11:09 EDTLLOptions with increasing implied volatility
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10:59 EDTFLDMFluidigm expected to report strong quarter at Piper Jaffray
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10:25 EDTLLLumber Liquidators gaps down, slides lower, levels to watch
Shares were last down over 22.5% to $54.38 following a sharp guidance cut last night after the close. At current price next support is at $53.55. Resistance is at $55.20.
10:18 EDTLLHome Depot, Lowe's estimates cut after warnings from floor, farm retailers
Weak results from Tractor Supply (TSCO) and Lumber Liquidators (LL) do not bode well for Home Depot (HD) and Lowe's (LOW) near-term outlook, Deutsche Bank warned in a note to investors earlier today. WHAT'S NEW: After hardwood floors retailer Lumber Liquidators and farm products retailer Tractor Supply pre-announced weaker than expected Q2 results, Deutsche Bank analyst Mike Baker reduced his estimates for Home Depot and Lowe's. The comparative sales of Home Depot and Lowe's have historically had a positive correlation with those of Tractor Supply and Lumber Liquidators, explained Baker. Lumber Liquidators, like Home Depot and Lowe's, is exposed to housing markets, the analyst stated. Meanwhile, like Tractor Supply, Home Depot and Lowe's are exposed to the outdoor/weather sensitive sector, according to Baker. However, there are differences in the companies' business models, and comparative sales at Home Depot and Lowe's are probably trending better than at Tractor Supply and Lumber Liquidators, Baker believes. He lowered his second quarter comparative sales growth forecast for Lowe's to 4% from 4.5%, and for Home Depot to 4.5% from 5%. Baker's Q2 EPS estimates for both home improvement companies are now 1c below consensus levels. He kept a Buy rating on Lowe's and Hold ratings on Home Depot and Tractor Supply. PRICE ACTION: In early trading, Home Depot fell 2% to $79.07, Lowe's declined 1.8% to $47.02, Tractor Supply tumbled 5% to $58.23, and Lumber Liquidators plunged 22% to $54.70. Shares of Tile Shop (TTS), which is also exposed to housing markets, fell 11% to $11.55 in early trading.
10:05 EDTLLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AuRico Gold (AUQ) downgraded to Hold from Buy at Canaccord... Cincinnati Bell (CBB) downgraded to Underperform from Neutral at BofA/Merrill... Eldorado Gold (EGO) downgraded to Hold from Buy at Canaccord... Fortuna Silver Mines (FSM) downgraded to Hold from Buy at Canaccord... Gerdau (GGB) downgraded to Neutral from Overweight at JPMorgan... Hi-Crush Partners (HCLP) downgraded to Neutral from Buy at Ladenburg... Ingredion (INGR) downgraded to Equal Weight from Overweight at Stephens... Investors Bancorp (ISBC) downgraded to Neutral from Buy at Guggenheim... Lumber Liquidators (LL) downgraded to Hold from Buy at Jefferies... Mid-America Apartment (MAA) downgraded to Underweight at Morgan Stanley... Northern Tier (NTI) downgraded to Neutral from Outperform at Macquarie... S&T Bancorp (STBA) downgraded to Neutral from Buy at Guggenheim... T. Rowe Price (TROW) downgraded to Equal-Weight from Overweight at Evercore... Tahoe Resources (TAHO) downgraded to Hold from Buy at Canaccord... Tractor Supply (TSCO) downgraded to Market Perform from Outperform at William Blair... UnitedHealth (UNH) downgraded to Hold from Buy at Jefferies... Waddell & Reed (WDR) downgraded to Neutral from Buy at Citigroup... Washington Trust Bancorp (WASH) downgraded to Neutral from Buy at Guggenheim.
09:31 EDTVRXNestle acquires rights to aesthetic dermatology products in the U.S. and Canada
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09:31 EDTVRXValeant completes filler, toxin asset sale to Galderma
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09:15 EDTLLOn The Fly: Pre-market Movers
HIGHER: Zumiez (ZUMZ), up 5.7% after raising Q2 outlook... DragonWave (DRWI), up 5% after reporting better than expected Q1 results... International Game (IGT), up 3.6% after Italian press report says the company will soon get a $4B offer from GTECH... United Continental (UAL), up 2.9% after reporting June traffic. LOWER: Lumber Liquidators (LL), down 23% after downgraded at Jefferies and Credit Suisse following the company's reduced full-year outlook. Tile Shop (TTS), which also serves flooring customers, down 5.5% following Lumber Liqudators' profit warning... Family Dollar (FDO), down 1.9% after reporting Q3 earnings that missed expectations... Tractor Supply (TSCO), down 5.9% after reporting Q2 preliminary results, saying it now sees FY14 results at low end of guidance range... Liquidity Services (LQDT), down 8% after revising Q3 guidance after its sales of selected rolling stock and other assets under its Surplus Contract with the U.S. Defense Logistics Agency have ceased at the request of DLA... Potbelly (PBPB), down 18% after lowering its Q2 and FY14 outlook... Memorial Production Partners (MEMP), down 7.4% after filing to sell 8.6M shares of common units for partners... Kosmos (KOS), down 3.3% after filing to sell 17M shares of common stock.
08:55 EDTATHNathenahealth volatility increases into Q2 and outlook
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08:38 EDTAEMAgnico-Eagle commences drill program on Aura Silver Greyhound Property
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07:03 EDTLLTile Shop estimates lowered on Lumber Liquidators results at Credit Suisse
Credit Suisse lowered Tile Shop (TTS) estimates following weak Lumber Liquidators (LL) results. The analyst said Tile Shop's comps have a high correlation to Lumber Liquidators and said its not immune to weaker macro factors. Shares remain Outperform rated with a $16 price target, down from $18.
07:00 EDTLLLumber Liquidators should be bought on today's pullback, says Piper Jaffray
Piper Jaffray recommends buying shares of Lumber Liquidators on today's sell-off as it believes some of the company's Q2 issues are transitory and the company's business model remains "structurally strong." Piper lowered its price target for shares to $68 from $122 following the negative preannouncement and keeps an Overweight rating on the name.
06:54 EDTLLLumber Liquidators volatility expected to move into cutting full-year outlook
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06:48 EDTLLHome Depot, Lowe's estimates lowered at Deutsche Bank
Deutsche Bank lowered its estimates for both Home Depot (HD) and Lowe's (LOW) after Tractor Supply (TSCO) and Lumber Liquidators (LL) preannounced Q2 comp misses. The firm says that while the business models are different, Tractor Supply and Lumber Liquidators have historically correlated positively with Home Depot and Lowe's on comps. Deutsche calls its negative earnings revisions "relatively minor," as it thinks comps are probably holding up better at Home Depot and Lowe's. It keeps a Buy rating on Home Depot and a Hold rating on Lowe's.
06:28 EDTLLOptions expected to be active
Options expected to be active: LL PBPB VNO FDO WFC COST ZUMZ UAL BA
06:25 EDTLLLumber Liquidators downgraded to Neutral from Outperform at Credit Suisse
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06:22 EDTCREELEDinside: LED market scale set to reach $14.4B in 2014, DigiTimes reports
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05:40 EDTLLLumber Liquidators downgraded to Hold from Buy at Jefferies
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