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Stock Market & Financial Investment News

News Breaks
February 12, 2013
10:01 EDTAWI, WBC, RGLD, SJM, DCT, LVS, WAG, NVO, GFI, BXP, NCLH, SPH, NTAP, DLR, AREOn the Fly: Analyst Upgrade Summary
Today’s noteworthy upgrades include: Alexandria Real Estate (ARE) upgraded to Overweight from Equal Weight at Evercore... Boston Properties (BXP) upgraded to Outperform from Sector Perform at RBC Capital... DCT Industrial (DCT) upgraded to Market Perform from Underperform at Wells Fargo... Digital Realty (DLR) upgraded to Overweight from Equal Weight at Evercore... Gold Fields (GFI) upgraded to Neutral from Sell at Citigroup... J.M. Smucker (SJM) upgraded to Outperform from Market Perform at Bernstein... Nortel NetApp (NTAP) upgraded to Buy from Hold at Brean Capital... Novo Nordisk (NVO) upgraded to Buy from Neutral at Nomura... Royal Gold (RGLD) upgraded to Buy from Neutral at UBS... Suburban Propane (SPH) upgraded to Buy from Neutral at BofA/Merrill... Walgreen (WAG) upgraded to Buy from Neutral at Mizuho... NetApp (NTAP) upgraded to Buy from Hold at Brean Capital... WABCO (WBC) upgraded to Buy from Neutral at Buckingham... Las Vegas Sands (LVS) upgraded to Buy from Hold at Argus... Norwegian Cruise Line (NCLH) upgraded to Buy from Neutral at Nomura... Armstrong World (AWI) upgraded to Buy from Neutral at Citigroup.
News For ARE;BXP;DCT;DLR;GFI;SJM;NTAP;NVO;RGLD;SPH;WAG;WBC;NCLH;LVS;AWI From The Last 14 Days
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August 20, 2015
06:51 EDTNTAPNetApp product growth still a concern, says Piper Jaffray
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05:55 EDTNTAPStocks with implied volatility above IV index mean; NTAP ATML
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August 19, 2015
18:34 EDTNTAPOn The Fly: After Hours Movers
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18:08 EDTNTAPNetApp advances after Q1 results and current quarter guidance top estimates
Share of computer data software and systems provider NetApp (NTAP) are advancing after reporting first quarter results that surpassed analyst expectations and provided better than expected guidance for the second quarter. WHAT'S NEW: NetApp reported Q1 profit and revenue that surpassed analysts' average estimates. The company reported Q1 earnings per share of 29c on revenue of $1.34B. Analysts were expecting EPS of 23c on revenue of $1.32B. Looking ahead to Q2, the company expects to report EPS of 55c-60c on revenue of $1.4B-$1.5B. Consensus estimates for Q2 were 46c for EPS and $1.39B for revenue at the time of the report. NetApp CEO George Kurian said, "The IT industry as a whole is going through fundamental change as enterprises transform themselves with digital capabilities. Data is at the heart of these transformations and where NetApp has a profoundly important role to play with our differentiated vision for data management." WHAT'S NOTABLE: On the company's Q1 earnings call, the CEO noted the transformation of IT environments. Customers are reducing their spend on traditional storage "which has put pressure on our ONTAP 7 mode business," Kurian noted. The CEO also pointed out that customers are slowing investment in the capacity expansion of their traditional storage environments. These dynamics put pressure on product revenue despite strong growth in other parts of the business, the CEO said. NetApp sees fiscal year 2016 revenue to be lower by 5% year-over-year as FX headwinds continue along with limited top line predictability. ANALYST TAKE: On August 17, Summit Research analyst Srini Nandury downgraded NetApp to Sell, saying dynamics in the storage industry as well as the company's Cluster ONTAP product transition will make revenue growth "elusive in the near-term." Weaker storage spending and continued problems with getting customers to upgrade to Cluster ONTAP could drive consensus estimates lower from current levels, Nandury told investors in a research note. PRICE ACTION: Shares of NetApp are up 6.75% in after-hours trading, but off their earlier after-hours high.
17:44 EDTNTAPNetApp sees FY16 revenue to down about 5%
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16:05 EDTNTAPNetApp spikes over 15% after reporting Q1 results, guidance
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16:03 EDTNTAPNetApp sees Q2 EPS 55c-60c, consensus 46c
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16:02 EDTNTAPNetApp reports Q1 EPS 29c, consensus 23c
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15:53 EDTNTAPNetApp August 29.5 straddle priced for 5.3% movement into Q1
14:48 EDTNTAPNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include L Brands (LB), consensus 68c... NetApp (NTAP), consensus 23c... Synopsys (SNPS), consensus 59c... Popeyes Louisiana Kitchen (PLKI), consensus 44c... Semtech (SMTC), consensus 24c.
14:16 EDTNTAPNetApp technical comments ahead of earnings
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13:30 EDTNTAPOptions with increasing put volume;
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12:53 EDTNTAPEarnings Watch: Analysts mostly bearish on NetApp ahead of Q1 earnings
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10:00 EDTSJMOn The Fly: Analyst Upgrade Summary
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06:29 EDTSJMJ.M. Smucker upgraded to Outperform on sales growth progress at Credit Suisse
Credit Suisse upgraded J.M. Smucker to Outperform and increased its price target to $126 from $112. The firm said the latest Nielsen data indicates sales growth has turned with notable progress in coffee and pet food. Additionally, Credit Suisse believes management is about to introduce a more aggressive cost savings target for the Big Heart integration and expects shares to narrow the valuation gap versus peers as revenue growth and market share improves.
05:24 EDTWBCWABCO enters into long-term supply agreenent in with JMCH in China
WABCO announced that it has entered into several long-term supply agreements with JMCH, a new customer and an established major truck manufacturer based in China that is expanding into the heavy-duty truck segment. WABCO's new business involves wheel-end solutions, including air-disc brakes, as well as conventional brake valves, other brake components and clutch servo technology. WABCO will support two new and separate platforms for the customer's different brands of medium and heavy-duty trucks. Series production is planned to begin in three years for the Chinese market and expected export to Southeast Asia. WABCO China further differentiated its offering for this customer through highly cost-effective wheel-end solutions specially designed to satisfy local market requirements. Among other vehicle safety and efficiency technologies, WABCO will supply JMCH with MAXX air disc brakes. Located in Taiyuan, in Shanxi province, JMCH is a wholly owned subsidiary of Jiangling Motors.
August 18, 2015
13:36 EDTNTAPNetApp August volatility elevated into Q1 and outlook
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07:13 EDTLVSMacau GGR poised to sink 37% in August, says Bernstein
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August 17, 2015
10:09 EDTNTAPOn The Fly: Analyst Downgrade Summary
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06:04 EDTNTAPNetApp downgraded to Sell from Hold at Summit Research
Summit Research analyst Srini Nandury downgraded NetApp (NTAP) to Sell saying dynamics in the storage industry as well as the company's Cluster ONTAP product transition will make revenue growth "elusive in the near-term." Weaker storage spending and continued problems with getting customers to upgrade to Cluster ONTAP could drive consensus estimates lower from current levels, Nandury tells investors in a research note. Further, the analyst believes NetApp continues to lose high sales performers to competitors such as Nimble Storage (NMBL), Pure Storage, Tegile and Tintri. He expects the company's FY16 revenue to decline 6% on top of the 3% decline in FY15, with only modest growth in FY17. Nandury cut his price target for NetApp shares to $28 from $32. The stock closed Friday up 13c to $30.75.
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