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Stock Market & Financial Investment News

News Breaks
March 27, 2013
09:54 EDTAPOL, SYT, SNBC, OMPI, IR, FMCN, ENPH, CLF, CRL, WALOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Apollo Group (APOL) downgraded to Market Perform from Outperform at Wells Fargo... Charles River Labs (CRL) downgraded to Market Perform from Outperform at Wells Fargo... Cliffs Natural (CLF) downgraded to Underweight from Equal Weight at Morgan Stanley... Enphase Energy (ENPH) downgraded to Underperform from Market Perform at Raymond James... Focus Media (FMCN) downgraded to Underperform from Buy at CLSA... Ingersoll-Rand (IR) downgraded to Neutral from Overweight at JPMorgan... Obagi Medical (OMPI) downgraded to Neutral from Buy at Roth Capital... Sun Bancorp (SNBC) downgraded to Underperform from Neutral at Sterne Agee... Syngenta (SYT) downgraded to Neutral from Overweight at HSBC... Western Alliance (WAL) downgraded to Market Perform from Outperform at Keefe.
News For APOL;CRL;CLF;ENPH;FMCN;IR;OMPI;SNBC;SYT;WAL From The Last 14 Days
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July 17, 2014
16:35 EDTWALWestern Alliance reports Q2 EPS 40c, consensus 37c
Reports Tier I Leverage Capital of 10.0% and Total Risk-Based Capital ratio of 12.4%, compared to 9.9% and 12.4%, respectively, at March 31 and 9.9% and 12.0%, respectively, at June 30, 2013. Reports total equity of $958M, up $63M from March 31 and up $159M from June 30, 2013. Reports tangible book value per share, net of tax, of $9.02, up from $8.32 at March 31 and up from $7.26 at June 30, 2013. Q2 provision for credit losses was $0.5M, compared to $3.5M for Q1 and 2Q13.
09:50 EDTCLFEgan-Jones recommends Cliffs Natural investors vote for director nominees
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09:44 EDTENPHEnphase Energy management to meet with Needham
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05:13 EDTCLFISS, Glass Lewis recommend Cliffs Natural holders vote GOLD proxy card
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July 16, 2014
10:00 EDTSYTOn The Fly: Analyst Upgrade Summary
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05:33 EDTSYTSyngenta upgraded to Outperform from Neutral at Credit Suisse
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July 15, 2014
09:59 EDTAPOLApollo Education discloses new Department of Education review
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09:21 EDTAPOLOn The Fly: Pre-market Movers
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07:17 EDTAPOLApollo Education Title IV review not cause for concern, says William Blair
William Blair says Apollo Education's announcement that the Department of Education will conduct a Title IV program review is not a major cause for concern. The firm notes that all U.S. colleges whose students access federal student loans are subject to periodic program reviews of their administration of Title IV funds. William Blair views Apollo's financial aid processing systems and procedures are among the best, if not the best, and keeps an Market Perform rating on the stock.
06:50 EDTAPOLApollo Education Title IV review likely non-event, says Piper Jaffray
After Apollo Education disclosed that the Department of Education will conduct a Title IV program review, Piper Jaffray says such actions are "normal course of business" and not unusual at for-profit institutions. Piper notes that Apollo's last Title IV program review was completed in 2012 with no adverse findings. The firm sees a "high probability" the review will be a non-event and it keeps a Neutral rating on the stock.
July 14, 2014
18:15 EDTAPOLOn The Fly: After Hours Movers
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16:34 EDTAPOLApollo Education down nearly 8% after DoE review
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16:30 EDTAPOLDoE to conduct review on Apollo's University of Phoenix financial aid program
Apollo Education disclosed in a regulatory filing that it has been informed by the U.S. Department of Education that the Department intends to conduct an ordinary course program review of University of Phoenix’s administration of federal student financial aid ,Title IV, programs in which the University participates. The review, which is scheduled to commence August 4, initially will cover federal financial aid years 2012-2013 and 2013-2014, as well as compliance with the Jeanne Clery Disclosure of Campus Security Policy and Campus Crime Statistics Act, the Drug-Free Schools and Communities Act and related regulations.
09:34 EDTIRIngersoll-Rand view changed to Postivie from Neutral at OTR Global
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08:15 EDTCLFCliffs Natural recommends voting WHITE proxy card
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July 10, 2014
12:23 EDTCLFCasblanca Capital condemns Cliffs Natural's compensation practices in letter
Casablanca Capital LP, the beneficial owner of approximately 5.2% of Cliffs Natural Resources, issued a letter to shareholders in connection with Casablanca’s campaign for fundamental change at Cliffs and its nomination of six director candidates for election to the Board of Directors at the company’s upcoming 2014 Annual Meeting of Shareholders on July 29. In the letter, Casablanca details escalating management compensation while shareholder returns have plummeted, the opaque nature of the management bonus and review process, and the ways in which bonus compensation metrics have changed from year to year in an apparent effort by the Cliffs Board to justify management bonuses despite severe underperformance. Casablanca reiterates that, in contrast to the current 0.3% of Cliffs shares that the current Board and management team owns, Casablanca has economically aligned itself with the interests of fellow shareholders, with Casablanca owning 5.2% of Cliffs shares and with Lourenco Goncalves’ personal investment of $1.5M in Cliffs’ shares. Donald Drapkin, Chairman of Casablanca said, “The Cliffs Board and management team have been pursuing their own personal agendas and enrichment at the expense of shareholders for far too long. It is time for the gravy train to end and for the Board to be held accountable. We are confident that on July 29 Cliffs’ shareholders will vote to support a slate of new directors who will reverse the outrageous value destruction and stop the pattern of excessive compensation and self-dealing at Cliffs.”
10:28 EDTENPHEnphase Energy management to meet with Needham
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08:35 EDTCLFBofA/Merrill steel analysts hold an analyst/industry conference call
Global Steel Analysts review market conditions in Asia, Europe and the U.S. and discuss recent price moves in iron ore, met coal and global steel on an Analyst/Industry conference call. Covered companies AKS, ATI, CLF, CMC, GGB, MTL, NUE, RS, SCHN, SID, STLD, TX and X may be discussed on the Analyst/Industry conference call to be held on July 14 at 10 am.
July 9, 2014
07:40 EDTIRCLSA to hold investor meetings at SEMICON West
Investor Meetings, in conjunction with SEMICON West, will be held in San Francisco on July 9.
July 8, 2014
07:04 EDTENPHEnphase, Sunnova become first solar service provider in U.S. Virgin Islands
Sunnova and Enphase Energy announced their continued expansion by launching into the U.S. Virgin Islands. Enphase Microinverters will be Sunnova’s exclusive inverter in this region. Within 18 months of collaboration, the companies have more than 2K PV systems already installed and operating. Sunnova recently announced $145M in financing to fund this growth.
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