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Stock Market & Financial Investment News

News Breaks
May 20, 2014
10:00 EDTTSCDY, ONEXF, GD, CPB, RYAAY, MCP, DTV, APC, QCOR, JCP, DKS, APDOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Air Products (APD) downgraded to Hold from Buy at BGC Financial... Anadarko (APC) downgraded to Equalweight from Overweight at Barclays... Campbell Soup (CPB) downgraded to Underperform from Neutral at Credit Suisse... Dick's Sporting (DKS) downgraded to Neutral from Buy at SunTrust... DirecTV (DTV) downgraded to Equal Weight from Overweight at Morgan Stanley... General Dynamics (GD) downgraded to Hold from Buy at Argus... J.C. Penney (JCP) downgraded to Underperform from Market Perform at Wells Fargo... LifeLock (LOCK) downgraded to Neutral from Buy at Goldman... Molycorp (MCP) downgraded to Underweight from Equal Weight at Morgan Stanley... Onex (ONEXF) downgraded to Sector Performer from Outperformer at CIBC... Questcor (QCOR) downgraded to Neutral from Buy at Mizuho... Ryanair (RYAAY) downgraded to In-Line from Outperform at Imperial Capital... Tesco (TSCDY) downgraded to Hold from Buy at Jefferies.
News For APD;APC;CPB;DKS;DTV;GD;JCP;MCP;ONEXF;QCOR;RYAAY;TSCDY From The Last 14 Days
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January 27, 2016
18:12 EDTGDGeneral Dynamics awarded $170.72M government contract
General Dynamics was awarded a $170.72M cost-plus-fixed-fee contract to acquire a Stryker Tow Simulator. Bids were solicited via the Internet with one received. Work and funding will be determined with each order. Army Contracting Command, Tank and Automotive, Warren, Michigan, is the contracting activity.
12:05 EDTGDGeneral Dynamics: Gulfstream order activity 'quite good'
Says gulfstream book-to-bill at 1-to-1. Says gulfstream order activity "quite good." Says ISNT book-to-bill has been 1-to-1 every other quarter than Q4. Sees FY16 ISNT book-to-bill at 1-to-1.
11:58 EDTGDGeneral Dynamics says G650 output rate 'sustainable' in FY16, FY17
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11:52 EDTGDGeneral Dynamics sees FY16 net interest expense around $95M
Sees FY16 effective tax rate in mid-29% range.
11:49 EDTGDGeneral Dynamics sees FY16 operating margin 13.3%
11:48 EDTGDGeneral Dynamics sees using all free cash flow in FY16 for dividends, buybacks
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11:47 EDTGDGeneral Dynamics sees FY16 EPS roughly $9.20, consensus $9.52
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11:41 EDTGDGeneral Dynamics says combat business poised for 'modest' growth in FY16
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11:20 EDTDKSBed Bath & Beyond slips after Citi, Keybanc both say sell
Home goods retailer Bed Bath & Beyond (BBBY) is declining in late morning trading after being downgraded to Sell-equivalent ratings at both Keybanc and Citi. WHAT'S NEW: KeyBanc analyst Bradley Thomas downgraded Bed Bath & Beyond to Underweight from Sector Weight after his firm's work on housing showed growth has slowed. The analyst noted that the home furnishings sector is growing increasingly competitive, and he took a more cautious view on Hardline retailers whose growth is predicated primarily on same-store sales. Thomas kept a $35 price target on shares of Bed Bath & Beyond. Citi analyst Kate McShane downgraded Bed Bath & Beyond to Sell from Neutral on expectations the retailer's earnings will continue to decline over the next two years. McShane also noted that competition in home furnishings remains intense, while Bed Bath's e-commerce operations continue to be unprofitable. McShane cut her price target for the shares to $37 from $51. OTHERS TO WATCH: The analysts, in their respective notes, also opined on Bed Bath & Beyond's peers. Keybanc's Thomas downgraded Haverty Furniture (HVT) and Pier 1 Imports (PIR) to Sector Weight from Overweight. Meanwhile, Citi's McShane recommended a pair trade of long Dick's Sporting Goods (DKS), which the firm is Overweight on due to valuation, and short Bed Bath & Beyond. PRICE ACTION: Shares of Bed Bath & Beyond are down 1.6% to $43.34, while Haverty Furniture and Pier 1 Imports are down 3.8% and 3.9%, respectively. Dick's Sporting Goods, meanwhile, is down 0.7% to $37.84.
09:34 EDTAPCAnadarko downgraded to Underweight from Neutral at Atlantic Equities
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09:03 EDTGDGeneral Dynamics reports Q4 EPS $2.40, consensus $2.38
Reports Q4 revenue $7.81B, consensus $8.24B. General Dynamics' total backlog at the end of 2015 was $66.1B. Company-wide operating margin for Q4 and full-year 2015 was 13.3%. The company said, "We have a healthy and stable backlog with the defense businesses executing on recent program wins, and Aerospace's backlog is growing year-over-year reflecting strong order activity throughout 2015."
06:59 EDTGDOptions expected to be active: AAPL FB AMZN BIIB GD HES TXT BA UTX X T
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06:46 EDTDKSBed Bath & Beyond downgraded to Sell from Neutral at Citi
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05:14 EDTAPCAnadarko implied volatility of 91 at upper end of index mean range
January 26, 2016
14:49 EDTGDGeneral Dynamics volatility increases into Q4 and outlook
General Dynamics January weekly call option implied volatility is at 26, March is at 23; compared to its 52-week range of 15 to 32, suggesting near term price movement into the expected release of Q4 results on January 27.
14:32 EDTGDNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Novartis (NVS), consensus $1.18... Boeing (BA), consensus $1.26... United Technologies (UTX), consensus $1.52... Biogen (BIIB), consensus $4.08... EMC (EMC), consensus 65c... General Dynamics (GD), consensus $2.38... Anthem (ANTM), consensus $1.22... Illinois Tool Works (ITW), consensus $1.21... State Street (STT), consensus $1.18... Norfolk Southern (NSC), consensus $1.24... Progressive (PGR), consensus 47c... St. Jude Medical (STJ), consensus $1.01... Rockwell Automation (ROK), consensus $1.33... Textron (TXT), consensus 83c... Hess (HES), consensus ($1.47)... Cliffs Natural (CLF), consensus (26c).
08:38 EDTAPCCiti reiterates Buy on Anadarko amid balance sheet concerns
Citi analyst Robert Morris attributes the 33% year-to-date decline in shares of Anadarko Petroleum to concerns over the company's balance sheet and "perceived cash flow outspend." In a research note titled "Does Anadarko Belong In The 'Bad Balance Sheet Bucket'?", Morris reiterates a Buy rating on Anadarko with a $62 price target. The company is adamant that it will not outspend cash flow in 2016, which, like 2015, includes asset sales, Morris tells investors. The analyst believes Anadarko could fund up to $1B or more with asset sales. In almost any scenario, Morris does not think Anadarko will breach its financial covenant or seek to issue equity.
05:53 EDTTSCDYWatchdog says Tesco 'acted unreasonably' towards suppliers, Financial Times says
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January 25, 2016
09:43 EDTAPCAnadarko upgraded to Buy from Accumulate at Tudor Pickering
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09:38 EDTJCPJ.C. Penney upgraded to Mixed from Negative at OTR Global
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