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August 4, 2014
04:55 EDTAPD, APD, APD, ORCL, ORCL, ORCL, MDAS, MDAS, MDAS, JCI, JCI, JCI, GWW, GWW, GWW, ETN, ETN, ETN, CREE, CREE, CREE, CAT, CAT, CAT, CPST, CPST, CPST, ALLE, ALLE, ALLE, ARG, ARG, ARG, POWR, POWR, POWRAmerican Society for Healthcare Engineering to hold a conference
51st Annual ASHE Conference to be held in Chicago on August 3-6.
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October 1, 2015
08:40 EDTCPSTCapstone Turbine sees Q2 results below expectations
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08:33 EDTJCIVersar closes acquisition of Johnson Controls Security Systems
Versar, (VSR) announced that it has completed the acquisition of Johnson Controls' (JCI) specialized federal security integration business, formerly known as Johnson Controls Security Systems. JCSS is a security systems integrator serving Federal clients by designing, installing and supporting complex physical security, network security, and facilities management systems. The purchase price of $20M was paid with a combination of cash and contingent consideration. Further, Versar has put in place a new banking relationship with Bank of America to support both the acquisition and ongoing working capital needs. JCSS, which will now be known as Versar Security Systems, is headquartered in Gaithersburg, Maryland, generated approximately $34less than in trailing twelve month revenues from key long term customers such as the Federal Aviation Administration and the Federal Emergency Management Agency.
05:33 EDTJCIJohnson Controls, Hitachi complete global air conditioning JV
Johnson Controls (JCI), Hitachi (HTHIY) and Hitachi Appliances announced the companies have completed their global joint venture agreement and will immediately commence operations of Johnson Controls-Hitachi Air Conditioning to provide global customers with a full range of world class air conditioning products and technology. Through the agreement, Johnson Controls has acquired a 60% ownership stake of the new entity, which has more than approximately $2.8B in sales, annually. Hitachi Appliances retains ownership of the remaining 40% of the company. The joint venture has approximately 14,000 employees and 24 global locations dedicated to design, engineering and manufacturing throughout Asia, Europe and Latin America. It will build on both organizations' technology, research and development leadership, as well as expanding marketing channels.
September 30, 2015
16:26 EDTCATCaterpillar announces price action of 0%-2% worldwide on most machines
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10:54 EDTMDASMedAssets workforce reduction 'not a good sign,' says Piper Jaffray
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10:00 EDTJCIOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Analog Devices (ADI) upgraded to Buy from Neutral at Citi... Asbury Automotive (ABG) upgraded to Neutral from Underperform at BofA/Merrill... Brookfield (BAM) upgraded to Outperform from Market Perform at BMO Capital... CNOOC (CEO) upgraded to Buy from Hold at Jefferies... Canadian Pacific (CP) upgraded to Buy from Neutral at Goldman... Citizens Financial (CFG) upgraded to Buy from Neutral at UBS... Esperion (ESPR) upgraded to Neutral from Sell at Chardan... HSBC (HSBC) upgraded to Buy from Neutral at UBS... Hecla Mining (HL) upgraded to Outperformer from Sector Performer at CIBC... Johnson Controls (JCI) upgraded to Outperform from Market Perform at William Blair... Level 3 (LVLT) upgraded to Buy from Neutral at UBS... Madison Square Garden (MSG) upgraded on asset value, share buyback outlook at Stifel... Medivation (MDVN) upgraded to Market Perform from Underperform at Cowen... PHH Corp. (PHH) upgraded to Buy from Neutral at Compass Point... Post Holdings (POST) upgraded to Buy from Neutral at SunTrust... Ralph Lauren (RL) upgraded to Buy from Neutral at UBS... Regions Financial (RF) upgraded to Buy from Hold at Sandler O'Neill... Shire (SHPG) upgraded to Hold from Reduce at HSBC... Sinopec (SNP) upgraded to Buy from Hold at Jefferies... Verifone (PAY) upgraded to Buy from Hold at Argus.
08:42 EDTMDASMedAssets discloses workforce reduction of 5% in cost reduction program
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07:03 EDTJCIJohnson Controls upgraded to Outperform from Market Perform at William Blair
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06:58 EDTORCLOracle to furlough workers during holiday week, BI reports
Oracle has decided to close down during the holiday week between Christmas and New Year's, mandating that its employees pay for this furlough with paid vacation time, Business Insider reports, citing several sources. Some Oracle employees have been angered about this move that basically removes four days of paid time off from them, the report says. Reference Link
September 29, 2015
08:39 EDTORCLOracle Health Sciences adds 93 biopharma customers
Oracle (ORCL) Health Sciences announced that 93 emerging biopharma organizations worldwide have become new customers in the past year, adopting Oracle Health Sciences solutions to succeed in this rapidly evolving market and deliver drugs to patients faster. Organizations, including Accera and NewLink (NLNK), selected Oracle Health Sciences solutions to manage their end-to-end clinical trial processes, boost clinical development productivity, facilitate compliance, and build scalable, affordable platforms for growth.
September 28, 2015
07:00 EDTCATCaterpillar shares attractive after selloff, says Deutsche Bank
Deutsche Bank analyst Vishal Shah says that after dropping 7% since the 2015 guidance cut, shares of Caterpillar are attractive. Earnings per share will tough at $3.75 in 2016 and rebound to $4.10 in 2017, Shah tells investors in a research note. He keeps a Buy rating on the stock with an $80 price target.
September 25, 2015
16:35 EDTCATStocks end week lower as biotechs sink, Volkswagen crashes
Stocks ended the week lower after concerns about drug prices were reignited, sinking biotech stocks, an emissions scandal engulfed Volkswagen (VLKAY), dragging down shares of automakers and their suppliers, and Caterpillar (CAT) announced that it may eliminate as many as 10,000 jobs in the next three years as commodity prices continue to slump. MACRO NEWS: Following the Federal Reserve's decision last week to wait before raising rates, the central bank made a concerted effort to give the market more clarity this week. Over last weekend, three Federal Reserve officials - San Francisco Fed President John Williams, St. Louis Fed President James Bullard and Richmond Fed President Jeffrey Lacker - all argued that an interest-rate increase is still warranted this year. Then, on Thursday night, Fed Chair Janet Yellen said during a speech at UMass Amherst that the central bank remains inclined to hike rates this year. Yellen's remarks were incrementally hawkish, but welcomed by the market, since they helped clarify the message the Fed delivered a week ago... In the U.S., Markit's flash manufacturing purchasing manager's index was flat at 53.0 in September, which was slightly better than the expectation for it to dip to 52.8. Durable goods orders for August declined 2.0%, versus expectations for a drop of 2.3%. When transportation items were removed, the core reading was breakeven, versus expectations for a rise of 0.1%. The third estimate of second quarter GDP showed the economy grew 3.9% quarter-over-quarter, versus expectations for the GDP growth estimate to stay at 3.7%. Personal consumption in Q2 is now believed to have grown 3.6%, up from the prior estimate of 3.1%. The final University of Michigan consumer sentiment reading for September came in at 87.2, which was down from August's 91.9 but above the expected 86.2 reading... The Asian Development Bank cut its growth forecast for the region, citing a weaker outlook for China and India and a delayed recovery in the world's advanced economies. The bank now sees the Chinese economy growing 6.8% this year and 6.7% next year, down from its previous forecasts of 7.2% and 7%, respectively. Markit's flash manufacturing PMI for China fell to 47.0 in September from 47.3 last month. Meanwhile, Japanese Prime Minister Shinzo Abe unveiled new economic targets, including a goal for a 20% increase in the target size of the Japanese economy to 600T yen, though he gave no timeframe for achieving this aspiration... In Europe, Markit's composite PMI for the eurozone came in at 53.9 in the first look for September, down from 54.3 in August and below expectations for a reading of 54.1. COMPANY NEWS: Biotech stocks declined after privately-held Turing Pharmaceuticals made headlines by enacting a 5,000% price increase on its treatment for toxoplasmosis, reigniting a debate around drug prices that previously embroiled costly Hepatitis C drugs including AbbVie's (ABBV) Viekira Pak and Gilead's (GILD) Sovaldi and Harvoni. Presidential candidate Hillary Clinton sent the debate to center stage by criticizing the "outrageous" prices of specialty drugs and laying out a plan to tackle "price gouging" in the specialty drug market. The NASDAQ Biotechnology index fell roughly xxx% for the week amid the attention paid to Turing's drug and Clinton's response... Volkswagen (VLKAY) shares trading in New York fell sharply to begin the week and ended the week far from where they'd been last Friday before the EPA said it found manipulations that violate U.S. environmental standards while testing certain of the automaker's diesel cars. The EPA said Volkswagen may face civil penalties of $37,500 for each vehicle not in compliance with federal clean air rules, which could total as much as $18B, according to Reuters. In the wake of the scandal, Chief Executive Officer Martin Winterkorn resigned, with the company's supervisory board subsequently praising the decision and selecting Matthias Mueller, the former head of Porsche (POAHY), as Winterkorn's successor as the company's new CEO... Caterpillar (CAT) shares dropped after the heavy machinery maker announced plans for job cuts and lowered its revenue guidance for this year and next. Caterpillar said that it would lay off 4,000-5,000 of its employees between now and the end of 2016 and could lay off up to 10,000 employees by 2018. Caterpillar cut its fiscal year 2015 revenue forecast by $1B and said its sees its fiscal year 2016 revenue to be 5% below this year, adding that it expects revenue declines in all three large segments next year... Online and mobile deal provider Groupon (GRPN) said it plans to cut 1,100 jobs relating primarily to the company's international operations... Nike jumped after the athletic gear giant reported better than expected earnings and futures orders, prompting numerous price target hikes and at least one upgrade at Street research firms. Among other companies reporting earnings this week, BlackBerry (BBRY), ConAgra (CAG), Carnival (CCL), and CarMax (KMX) fell immediately following their quarterly reports... Apple (AAPL), which has previously been reported to be working on an electric car via its "Project Titan," is speeding up those efforts and setting 2019 as a target to ship its first vehicle, according to The Wall Street Journal... Against the backdrop of China's President Xi Jinping visiting the U.S., Boeing (BA) announced deals to sell 300 planes to three Chinese companies and set up an aircraft factory in in the Asian nation, while Cisco (CSCO) announced a partnership with Chinese server maker Inspur Group... Lloyd Blankfein, Goldman Sachs (GS) Chairman and CEO, disclosed that he was diagnosed with lymphoma. "Fortunately, my form of lymphoma is highly curable and my doctors' and my own expectation is that I will be cured," Blankfein stated in an open letter that was shared by the bank... GoPro (GPRO) finished the week about xxx% lower after Barron's contended in a feature article last weekend that the company's stock could plunge another 30% to $25 as Apple, Sony (SNE) and others pressure the company's "one-hit wonder" products... On the M&A front, Atmel (ATML) agreed to be acquired by German chipmaker Dialog Semiconductor in a deal valued at roughly $4.6B and Starwood Waypoint (SWAY) announced a stock-for-stock merger agreement with Colony American Homes. INDEXES: The Dow lost about 0.43% to close at 16,314.67, the S&P 500 fell about 1.35% to close at 1,931.34, and the Nasdaq declined about 2.89% to close at 4,686.50.
12:38 EDTCREEOptions with increasing implied volatility
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10:00 EDTCATOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Atlas Air (AAWW) downgraded to In-Line from Outperform at Imperial Capital... Caterpillar (CAT) downgraded to Market Perform from Outperform at William Blair... Cummins (CMI) downgraded to Market Perform from Outperform at William Blair... Emerge Energy (EMES) downgraded after guidance withdrawal at Stifel... Exxon Mobil (XOM) downgraded to Underperform from Peer Perform at Wolfe Research... F5 Networks (FFIV) downgraded to Market Perform from Outperform at Raymond James... Internap (INAP) downgraded on earnings miss, negative outlook at Oppenheimer... Semtech (SMTC) downgraded to Neutral from Buy at MKM Partners... Silicon Laboratories (SLAB) downgraded to Neutral from Buy at MKM Partners... Superconductor Technologies (SCON) downgraded to Neutral from Buy at Ladenburg... Virgin America (VA) downgraded to Market Perform from Outperform at Cowen.
08:28 EDTCATCummins downgraded to Market Perform from Outperform at William Blair
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08:06 EDTCATCaterpillar downgraded to Market Perform from Outperform at William Blair
William Blair downgraded Caterpillar to Market Perform after the company yesterday reduced its sales forecast and cut jobs. The firm sees a lack of catalysts and visibility amid the "machinery meltdown."
07:20 EDTCATCaterpillar EPS poised to bottom in 2016, says Stifel
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06:53 EDTCATCalAmp still has 'substantial growth' at Caterpillar, says Northland
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05:51 EDTCATBarclays starts U.S. Machinery space with Negative view
Barclays analyst Robert Wertheimer rolled out coverage of the U.S. Machinery space with a Negative view. Of the fifteen companies he initiated in the sector, only two are Overweight rated. Wertheimer started five names at Underweight, his firm's equivalent of a sell. Consensus estimates are too high across the board with revenue for this cycle already peaking for most of machinery, the analyst told investors last night in a research note. He sees a sharper downturn for North American trucks than the consensus expects, with another peak level eight years away. And the tractor supercycle is only two years in a downturn, while the prior two supercycles saw seven consecutive down years in machinery sales, Wertheimer adds. Allison Transmission (ALSN) and United Rentals (URI) are the analyst's Overweight-rated stocks in the sector. Deere (DE), CNH Industrial (CNHI), Cummins (CMI), PACCAR (PCAR) and Navistar (NAV) are his Underweight rated names. Wertheimer also started with Equal Weight ratings shares of Actuant (ATU), AGCO (AGCO), Caterpillar (CAT), Joy Global (JOY), Lincoln Electric (LECO), Manitowoc (MTW), Terex (TEX) and WABCO (WBC).
05:11 EDTCATStocks with implied volatility movement; VRX CAT
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