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Stock Market & Financial Investment News

News Breaks
March 27, 2013
09:54 EDTOMPI, ENPH, APOL, SYT, IR, CLF, SNBC, FMCN, 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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March 25, 2015
09:57 EDTAPOLApollo Education tumbles after earnings and guidance, levels to watch
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09:24 EDTAPOLOn The Fly: Pre-market Movers
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07:38 EDTAPOLApollo Education reports University of Phoenix revenue $487.77M
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07:35 EDTAPOLApollo Education sees Q3 revenue $690M-$705M, consensus $740.86M
Sees Q3 operating income $85M-$95M, excluding special items.
07:34 EDTAPOLApollo Education sees FY15 revenue $2.63B-$2.68B, consensus $2.73B
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07:32 EDTAPOLApollo Education reports Q2 EPS ex-items (10c), consensus (16c)
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06:20 EDTAPOLUniversity of Phoenix could post stronger Q2 recruitment, WSJ says
Apollo Education's University of Phoenix may post improved Q2 results Wednesday, says the Wall Street Journal, citing a Deutsche Bank estimate of recruiting. The Journal also notes that improved online software may have improved student retention rates for the quarter, though it cautions that a "rebirth" for the organization is not likely. Reference Link
March 24, 2015
15:32 EDTAPOLApollo Education April volatility elevated into Q4 and outlook
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15:28 EDTAPOLNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Paychex (PAYX), consensus 46c... Leidos (LDOS), consensus 48c... Apollo Education (APOL), consensus (16c)... Lindsay (LNN), consensus $1.13... Francesca's (FRAN), consensus 20c... Yingli Green Energy (YGE), consensus (13c).
07:54 EDTIRIngersoll-Rand to benefit from end market acceleration, says Bernstein
Bernstein expects Ingersoll-Rand to benefit from an acceleration in its end markets, particularly in non-residential construction. The firm thinks the company's headwind from the decline in oil prices is limited, and it keeps an $81 price target and Outperform rating on the shares.
March 23, 2015
11:21 EDTSYTOrigin Agritech shares spike higher after report of possible takeover interest
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07:07 EDTCLFCliffs Natural agrees to sell Chromite assets to Noront for $20M
Cliffs Natural Resources announced that it has entered into a definitive agreement to sell its Chromite assets in Northern Ontario, Canada to Noront Resources Ltd. for $20M. The transaction is comprised of the chromite deposits and associated claims held by Cliffs. The sale of these assets to Noront, an experienced mining company with a strategic interest in the Ring of Fire region, further demonstrates execution of Cliffs' strategy which includes divesting non-core assets and focusing on being the major supplier of iron ore pellets to the North American steel industry. Moelis & Company acted as financial advisor to Cliffs Natural Resources.
March 22, 2015
16:22 EDTSYTChina looks to develop seed program to fend off foreign competition, WSJ says
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March 19, 2015
08:24 EDTCLFCliffs Natural says Bank of Nova Scotia files lawsuit against company
Cliffs Natural (CLF) said in a filing that as previously disclosed, on January 27, the company announced that Bloom Lake General Partner Limited and certain of its affiliates, including Cliffs Québec Iron Mining ULC commenced restructuring proceedings in Montreal, Québec, under the Companies’ Creditors Arrangement Act. Certain obligations of the Bloom Lake Group, including equipment loans, are guaranteed by the Company. On March 16, The Bank of Nova Scotia (BNS) filed a lawsuit in the U.S. District Court for the Northern District of Ohio, Eastern Division, against the company, asserting that the company breached its obligations under a guaranty of certain equipment loans pursuant to a Master Loan and Security Agreement, dated September 27, 2013, among certain members of the Bloom Lake Group and Key Equipment Finance Inc.. BNS is seeking an award of $52.6M plus unpaid accrued interest and expenses. Among other defenses to this litigation, the company is current in its payment obligations under the Equipment Loans.
08:24 EDTCLFJPMorgan pulls Cliffs target on 'relentless' iron ore price slide
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March 18, 2015
16:00 EDTCLFOptions Update; March 18, 2015
iPath S&P 500 VIX Short-Term Futures down 1.20 to 26.10. Option volume leaders: AAPL RAD PBR TWTR FB TSLA CLF BP MGM according to Track Data.
07:29 EDTENPHNorthland Capital Markets to hold a conference
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07:10 EDTCLFPlatts to hold a forum
11th Annual Steel Markets North America is being held in Chicago on March 17-18.
March 16, 2015
06:50 EDTWALWestern Alliance acquisition positive, says RBC Capital
After Western Alliance (WAL) agreed to buy Bridge Capital Holdings (BBNK) in a combined stock/cash deal valued at $425M, RBC Capital thinks the deal was reasonably priced and should significantly increase Western Alliance's earnings over time. The firm raised its price target on Western Alliance to $33 from $30 and keeps an Outperform rating on the shares.
March 12, 2015
08:46 EDTAPOLStudent Aid Bill of Rights unlikely to become law, says BMO Capital
After President Obama signed the “Student Aid Bill of Rights,” which proposes the right to discharge student debt into bankruptcy, BMO Capital says that such a change would imply financial risk to student lenders such as Sallie Mae (SLM). However, the firm does not expect the proposal to become law. It does not expects its estimates for Sallie Mae or education loan provider Navient (NAVI) to change, and keeps Market Perform ratings on both stocks. Publicly traded for-profit education companies include American Public Education (APEI), Apollo Education (APOL), Bridgepoint Education (BPI), Career Education (CECO), Corinthian Colleges (COCO), DeVry (DV), Grand Canyon (LOPE), ITT Educational (ESI) and Strayer (STRA).
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