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Stock Market & Financial Investment News

News Breaks
October 22, 2012
10:01 EDTWAL, CP, TLM, SNDK, SLG, PEG, MTW, KSU, EQR, EPB, EW, XRAY, DDR, CLF, BXS, BBT, APDOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Air Products (APD) downgraded to Neutral from Buy at BofA/Merrill... BB&T (BBT) downgraded to Neutral from Buy at Sterne Agee... BancorpSouth (BXS) downgraded to Neutral from Buy at SunTrust... Cliffs Natural (CLF) downgraded to Hold from Buy at Deutsche Bank... DDR Corp. (DDR) downgraded to Neutral from Buy at UBS... Dentsply (XRAY) downgraded to Sell from Neutral at UBS... Edwards Lifesciences (EW) downgraded to Neutral from Buy at Citigroup... El Paso Pipeline (EPB) downgraded to Market Perform from Outperform at Wells Fargo... Equity Residential (EQR) downgraded to Sell from Neutral at Goldman... Kansas City Southern (KSU) downgraded to Hold from Buy at BB&T... Manitowoc (MTW) downgraded to Neutral from Buy at Goldman... PSEG (PEG) downgraded to Underperform from Neutral at Credit Suisse... SL Green Realty (SLG) downgraded to Hold from Buy at ISI Group... SanDisk (SNDK) downgraded to Sector Perform from Outperform at RBC Capital... Talisman Energy (TLM) downgraded to Hold from Buy at Canaccord... Canadian Pacific (CP) downgraded to Market Perform from Outperform at BMO Capital... Western Alliance (WAL) downgraded to Neutral from Outperform at Macquarie.
News For APD;BBT;BXS;CLF;DDR;XRAY;EW;EPB;EQR;KSU;MTW;PEG;SLG;SNDK;TLM;CP;WAL From The Last 14 Days
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August 13, 2014
12:22 EDTCLFIron ore prices at lowest level in months, Business Spectator says
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06:38 EDTTLMTalisman poised to sell Iraqi Kurdistan assets, Reuters says
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06:02 EDTSNDKStocks with implied volatility below IV index mean; SNDK KMP
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August 12, 2014
10:00 EDTEPB, KSUOn The Fly: Analyst Upgrade Summary
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09:32 EDTKSUKansas City Southern upgraded at Macquarie
As previously reported, Macquarie upgraded Kansas City Southern to Neutral from Underperform. The firm upgraded shares based on heavy crude start-ups in Baton Rouge and Beaumont and ethylene project updates to drive growth. Price target raised to $114 from $106.
07:56 EDTKSUKansas City Southern upgraded to Neutral from Underperform at Macquarie
05:25 EDTEPBEl Paso Pipeline upgraded to Neutral from Sell at Goldman
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August 11, 2014
16:50 EDTEPBOn The Fly: Closing Wrap
Stocks on Wall Street opened in positive territory but were never able to gain any upside momentum. There was little to account for the initial move other than no change to the status quo for Israel and Russia. The averages moved in a narrow range but managed to stay on the plus side into the close, though in lackluster fashion. ECONOMIC EVENTS: In the U.S., no significant economic data was released. In prepared comments for a conference, Federal Reserve Vice Chairman Stanley Fischer said rebounds across advanced economies have been disappointing, leading the Fed and other observers to lower their long-term expectations for growth potential in the U.S. COMPANY NEWS: Shares of Kinder Morgan (KMI) advanced $3.25, or 9.0%, to $39.37 after announcing it will consolidate its oil-and-gas holdings into one company by acquiring all of the outstanding shares of a number of its subsidiaries, including Kinder Morgan Energy Partners (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB). The total transaction has a value of about $70B and the combined entity will be the largest energy infrastructure company in North America and the third largest energy company overall with an estimated enterprise value of approximately $140B, the company said. Afterward, Kinder Morgan was upgraded to Buy from Neutral at BofA Merrill Lynch, though Wells Fargo viewed the plans as mixed near-term. Wells believes the deal helps address some of the structural issues that have been pressuring Kinderís valuation in recent quarters, but it believes itís unclear how the market will ultimately value the new structure and the firm kept its Market Perform rating on all four stocks involved. MAJOR MOVERS: Among the notable gainers was salad and banana distributor Chiquita Brands (CQB), which jumped $3.04, or 30.22%, to $13.10 to close above the $13 per share takeover offer announced by Cutrale Group and the Safra Group. Note that Chiquita previously agreed to combine with Fyffes plc in a stock-for-stock transaction. Also higher was Mattress Firm (MFRM), which advanced $6.52, or 13.58%, to $54.53 after reporting preliminary second quarter results that beat expectations and raising it fiscal year outlook. Among the noteworthy losers following their earnings reports were Walter Investment (WAC), which fell $3.52, or 12.45%, to $24.75, and Inovio (INO), which dropped 99c, or 9.94%, to $8.97. INDEXES: The Dow edged up 16.05, or 0.1%, to 16,569.98, the Nasdaq gained 30.43, or 0.7%, to 4,401.33, and the S&P 500 rose 5.33, or 0.28%, to 1,936.92.
12:25 EDTEPBOn The Fly: Midday Wrap
Stocks on Wall Street opened in positive territory and have remained there throughout the morning. There was little in the way of a catalyst, as the economic calendar was empty, though investors may have been encouraged that there was no breakdown in the ceasefire agreement between Israel and Gaza and no big headlines from the Russia/Ukraine border. Additionally, some may have viewed comments from Fed Vice Chair Fischer as dovish and in support of continued easing. ECONOMIC EVENTS: In the U.S., no significant economic data was released. In prepared comments for a conference, Federal Reserve Vice Chairman Stanley Fischer said rebounds across advanced economies have been disappointing, leading the Fed and other observers to lower their long-term expectations for growth potential in the U.S. COMPANY NEWS: Shares of Kinder Morgan (KMI) advanced 10% after announcing it will consolidate its oil-and-gas holdings into one company by acquiring all of the outstanding shares of a number of its subsidiaries, including Kinder Morgan Energy Partners (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB). In addition to the rise in the shares of the parent, Kinder Morgan Energy shares rose 19%, Kinder Morgan Management gained 25% and El Paso Pipeline moved up 22%. MAJOR MOVERS: Among the notable gainers was salad and banana producer Chiquita Brands (CQB), which jumped 31% to trade above $13 per share after Cutrale Group and the Safra Group proposed to acquire 100% of the company's outstanding stock for $13 in cash each. Also higher was electric car maker Tesla (TSLA), which rose 5% after Deutsche Bank upgraded the stock to Buy from Hold and raised its price target on the shares to $310 from $220. Among the noteworthy losers was social game maker King Digital (KING), which slid 3% after the stock was downgraded at Pacific Crest to Sector Perform from Outperform. Also lower following their earnings reports were Inovio (INO), which fell over 8%, and Gogo (GOGO), which dropped nearly 6%. INDEXES: Near midday, the Dow was up 51.25, or 0.31%, to 16,605.18, the Nasdaq was up 38.19, or 0.87%, to 4,409.08, and the S&P 500 was up 10.12, or 0.52%, to 1,941.71.
11:01 EDTAPDAir Products raising prices for select epoxy curing agents, adhesion promoters
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09:06 EDTEPBOn The Fly: Pre-market Movers
HIGHER: PharmAthene (PIP), up 55% after announcing that a Delaware court awarded the company lump sum expectation damages for the value of its lost profits for SIGA Technologies' (SIGA) smallpox antiviral, Tecovirimat... MannKind (MNKD), up 19% after entering exclusive licensing agreement for development and commercialization of Afrezza inhaled insulin with Sanofi (SNY)... Kinder Morgan (KMI), up 19% after announcing it will acquire all of the outstanding equity securities of Kinder Morgan Energy Partners (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB)... Tesla (TSLA), up 2.7% following upgrade at Deutsche Bank... Achillion (ACHN), up 6% following upgrades at Wells Fargo and at Piper Jaffray... PepsiCo (PEP), up 0.9% following upgrade at UBS. LOWER: Dean Foods (DF), down 8.6% after reporting Q2 losses that were steeper than expected, saying balance of year "appears rocky," which makes it difficult to provide guidance beyond the immediate quarter... Priceline (PCLN), down 0.7% after reporting Q2 revenue that missed expectations, guiding Q3 EPS below consensus... SIGA Technologies, down 31% after ruling in suit with PharmAthene... 2U (TWOU), down 4.3% after downgraded at Goldman.
08:49 EDTEPBKinder Morgan says future MLP not currently in plans
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08:02 EDTXRAYDanaher, DENTSPLY seen as interested in Nobel Biocare, Bloomberg says
Swiss dental implant maker Nobel Biocare, which was initially approached by buyout firm EQT Partners and then hired Goldman Sachs (GS) as an advisor, has attracted interest from Danaher (DHR), said Bloomberg, citing people with knowledge of the matter. Other buyout firms and companies such as DENTSPLY (XRAY) and are also expected to look at Nobel, the report added. Reference Link
07:15 EDTEPBKinder Morgan volatility is expected to move on acquisitions
Kinder Morgan (KMI) volatility is expected to move after announcing the acquisition of Kinder Morgan Energy (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB). Overall option implied volatility of 22 is at its 26-week average according to Track Data, suggesting non-directional price movement.
06:26 EDTEPBWells Fargo views Kinder Morgan deal as mixed near-term
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06:09 EDTSNDKStocks with implied volatility below IV index mean; GPRO SNDK
Stocks with implied volatility below IV index mean; GoPro (GPRO) 68, SanDisk (SNDK) 27 according to iVolatility.
August 10, 2014
20:17 EDTEPBKinder Morgan to buy KMP,KMR,EPB with 2015 KMI dividend increase to $2 per share
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August 8, 2014
06:02 EDTSNDKStocks with implied volatility below IV index mean; XLNK SNDK
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August 7, 2014
10:44 EDTCLFCliffs Natural appoints Goncalves as Chairman, President and CEO
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06:04 EDTSNDKStocks with implied volatility below IV index mean; INTC SNDK
Stocks with implied volatility below IV index mean; Intel (INTC) 19, SanDisk (SNDK) 27 according to iVolatility.
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