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Stock Market & Financial Investment News

News Breaks
March 22, 2013
10:04 EDTAPEI, MSG, SPRD, NXPI, PANW, PROV, R, TCBI, MPR, IRG, DSW, FDO, ADTNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Public (APEI) upgraded to Outperform from Market Perform at Wells Fargo... DSW (DSW) upgraded to Outperform from Neutral at Credit Suisse... Family Dollar (FDO) upgraded to Buy from Hold at Deutsche Bank... Ignite Restaurant (IRG) upgraded to Buy from Hold at KeyBanc... Met-Pro (MPR) upgraded to Buy from Hold at Brean Capital... Ryder (R) upgraded to Strong Buy from Outperform at Raymond James... Texas Capital (TCBI) upgraded to Outperform from Market Perform at Keefe Bruyette... Provident Financial (PROV) upgraded to Buy from Hold at Sandler O'Neill... Palo Alto (PANW) upgraded to Buy from Neutral at B. Riley Caris... NXP Semiconductors (NXPI) upgraded to Positive from Neutral at JNK Securities... Spreadtrum (SPRD) upgraded to Buy from Neutral at BofA/Merrill... Madison Square Garden (MSG) upgraded to Outperform from Neutral at Macquarie... Adtran (ADTN) upgraded to Market Perform from Underperform at Raymond James.
News For APEI;FDO;DSW;IRG;MPR;TCBI;R;PROV;PANW;NXPI;SPRD;MSG;ADTN From The Last 14 Days
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August 14, 2014
17:16 EDTFDOPaulson & Co gives quarterly update on stakes
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16:34 EDTPANWPalo Alto initiated with an Outperform at Imperial Capital
Target $95.
10:05 EDTMSGOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Adidas (ADDYY) downgraded to Neutral from Buy at Goldman... Fabrinet (FN) downgraded at B. Riley... Freeport McMoRan (FCX) downgraded at Stifel... Infosys (INFY) downgraded to Hold from Buy at Jefferies... InterMune (ITMN) downgraded to Neutral from Buy at Goldman... Jones Energy (JONE) downgraded to Neutral from Overweight at JPMorgan... LVMH Moet Hennessy (LVMUY) downgraded to Neutral from Buy at Goldman... Madison Square Garden (MSG) downgraded to Hold from Buy at Topeka... Qualys (QLYS) downgraded to Sector Perform from Outperform at RBC Capital... SeaWorld (SEAS) downgraded to Market Perform from Outperform at Wells Fargo... Theravance Biopharma (TBPH) downgraded to Underperform from Neutral at RW Baird... URS Corporation (URS) downgraded to Neutral from Buy at Sterne Agee... ViaSat (VSAT) downgraded to Perform from Outperform at Oppenheimer... Wynn Resorts (WYNN) downgraded to Hold from Buy at Gabelli.
06:21 EDTMSGMadison Square Garden downgraded to Hold from Buy at Topeka
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August 13, 2014
15:49 EDTPANWPalo Alto checks positive, suggest Q4 upside, says Stephens
Stephens said its checks on Palo Alto have been positive and suggest Q4 results slightly ahead of consensus expectations. The firm raised its price target on Palo Alto to $95 from $90 and reiterates its Overweight rating on the shares.
10:01 EDTPANWOn The Fly: Analyst Initiation Summary
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August 12, 2014
16:26 EDTPANWPalo Alto initiated with an Overweight at Piper Jaffray
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09:09 EDTRQuantum received multiple purchase from Ryder
Quantum Fuel Systems Technologies Worldwide (QTWW) announced receipt of multiple purchase orders from Ryder (R) for more than 80 vehicles for Q-RailLITE and Q-CabLITE CNG fuel system modules. In May Quantum and Ryder entered into a long term agreement for the purchase and supply of complete CNG fuel systems for businesses that lease and rent CNG vehicles from Ryder. With the agreement, Ryder will purchase innovative CNG tank systems directly from Quantum and install them onto NG-powered vehicles using Ryder's network of certified installation facilities.
08:27 EDTNXPIMorgan Stanley remains positive on Semiconductor industry conditions
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07:36 EDTFDODollar Tree filing shows Family Dollar talks underway before Icahn involvement
A regulatory filing explaining the history of the merger agreement between Dollar Tree (DLTR) and Family Dollar (FDO) showed that, on February 24, a representative of Dollar Tree's financial advisor, JPMorgan, made a telephone call to a representative of Morgan Stanley to express Dollar Tree's interest in discussing a potential business combination transaction with Family Dollar. The filing also states that on June 6 Carl Icahn and certain of his affiliates filed a Schedule 13D disclosing that together they beneficially owned approximately 9.39% of the then-outstanding shares of Family Dollar common stock and that they wished to discuss with Family Dollar its business and strategies to enhance stockholder value. That day, Icahn telephoned Howard Levine, Chairman and CEO of Family Dollar, to discuss the Schedule 13D filing and to express an interest in additional communications with Family Dollar's management regarding the company's current operations and future plans, including potential strategic opportunities and potential business combination transactions. Levine asked Icahn whether he would be willing to sign a non-disclosure agreement and Icahn declined, the filing stated. Additionally on June 6, a member of the board of directors of "Company A" emailed Levine to suggest that they speak. On June 7, Levine and the member of the board of directors of Company A had a telephone conversation, during which the representative of Company A "indicated that Company A would be reluctant to participate in the negotiation of a transaction with Family Dollar if Mr. Icahn were to have a role in or control over the process," the filing states, without identifying Company A. Many, including the Wall Street Journal, have surmised that "Company A" in the filing may refer to Dollar General (DG).
August 8, 2014
16:28 EDTIRGOn The Fly: Closing Wrap
Stocks began the session in positive territory despite President Obama authorizing air strikes against the Islamic State militant group in northern Iraq in conjunction with a humanitarian effort. The early move higher stalled but the market then moved higher as reports confirmed that Russian military aircraft exercises near the Ukraine border had ended, as planned. ECONOMIC EVENTS: In the U.S., productivity growth rose 2.5% in the second quarter, beating expectations for a rise of 1.6%. Second quarter unit labor costs, however, only increased 0.6%, which was below the 1% consensus forecast. Wholesale inventories increased 0.3% in June, and sales were up 0.2%, which were both below expectations. COMPANY NEWS: Shares of McDonald's (MCD) were fractionally higher despite the company reporting that its comparable store sales fell 2.5% in July, which was significantly worse than expected. The fast food giant stated that its U.S. comparable sales were down 3.2% in the month compared to the same month of last year and that comp sales in Asia/Pacific, Middle East and Africa dropped 7.3%. The APMEA region's comparable sales decline reflects the impact of food quality and safety issues at a supplier to McDonald's and other food companies in China which caused a "significant negative impact" to results in China, Japan and certain other markets, the company noted. As a result of the China supplier issue, the company's previously issued global comparable sales forecast for 2014 is now at risk, McDonald's added. MAJOR MOVERS: Among the notable gainers was chip maker NVIDIA (NVDA), which rose $1.54, or 8.82%, to $19.00 after the company’s second quarter profit and third quarter revenue outlook surpassed analysts’ consensus estimates. Also higher was small-cap Tekmira Pharmaceuticals (TKMR), which jumped $6.43, or 45.06%, to $20.70 after announcing that the FDA has verbally confirmed they have modified the full clinical hold placed on the TKM-Ebola Investigational New Drug Application to a partial clinical hold. Among the noteworthy losers was cereal maker Post Holdings (POST), which fell $7.08, or 15.91%, to $37.43 and was downgraded to Neutral from Buy at SunTrust after the company reported an adjusted net loss for its third quarter and agreed to acquire American Blanching Company for $128M. Also lower were shares of Ignite Restaurant (IRG), the owner of the Joe’s Crab Shack and Macaroni Grill brands, which fell $4.33, or 34.98%, to $8.05 after reporting second quarter results that missed analysts' expectations and having its shares downgraded at Raymond James and CL King. INDEXES: The Dow advanced 185.66, or 1.13%, to 16,553.93, the Nasdaq gained 35.93, or 0.83%, to 4,370.90, and the S&P 500 rose 22.02, or 1.15%, to 1,931.59.
15:04 EDTNXPINXP Semiconductors management to meet with SunTrust
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12:53 EDTPANWProofpoint jumps after analyst starts with Outperform rating
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12:46 EDTIRGIgnite Restaurant shares tumble after Q2 earnings miss expectations
Shares of Ignite Restaurant (IRG) fell steeply after the company reported second quarter earnings results that were lower than analysts' expectations. WHAT'S NEW: Ignite's Q2 adjusted earnings per share was 8c, which fell steeply below analysts' estimates of 24c. Revenue for the quarter was $229.8M, which also was lower than analysts' consensus of $238.74M. Ignite reported that comparable restaurant sales increased 8.5% at Brick House Tavern + Tap, decreased 4.7% at Joe’s Crab Shack and decreased 2.6% at Macaroni Grill during the quarter. WHAT'S NOTABLE: Chief Executive Officer Ray Blanchette cited "residual effects" of 2014 winter weather, as well as some cannibalization of Joe's Crab Shack sales as the company increased the number of locations in the Northeast over the past three years for the earnings miss. Blanchette said Macaroni Grill results were "generally in line" with internal expectations. The company's near-term development strategy is expected to provide further opportunities to expand the Brick House concept, Blanchette noted. The company closed three Macaroni Grill locations and three additional locations were closed in July. ANALYST REACTION: This morning, Raymond James downgraded Ignite to Underperform from Market Perform and CL King downgraded the company to Neutral from Buy. Piper Jaffray analyst Nicole Miller Regan said that although she was encouraged by the long-term growth strategy of the company's restaurant portfolio, she feels that there is softness in the Joe's Crab Shack division and sees "choppiness" in same-store sales at Macaroni Grill in the third quarter. The firm maintains its Overweight rating on Ignite's shares and reduced its price target to $14 from $17. PRICE ACTION: During afternoon trading, shares of Ignite fell $3.96 or 31.99%, to $8.42.
12:34 EDTIRGOn The Fly: Midday Wrap
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10:36 EDTFDOOptions with increasing implied volatility
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10:00 EDTNXPIOn The Fly: Analyst Initiation Summary
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09:37 EDTIRGIgnite Restaurant downgraded to Neutral from Buy at CL King
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08:24 EDTNXPINXP Semiconductors initiated with a Buy at Canaccord
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06:34 EDTIRGIgnite downgraded to Underperform from Market Perform at Raymond James
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