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Stock Market & Financial Investment News

News Breaks
January 15, 2014
10:00 EDTARG, HTZ, TITN, TMK, STCK, PL, XONE, BBBY, WSO, TAM, SJR, MHFI, CRUS, APO, RBA, UN, SPH, REGN, PETMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Airgas (ARG) downgraded to Sell from Neutral at Goldman... Cirrus Logic (CRUS) downgraded to Underperform from Sector Perform at Pacific Crest... ExOne (XONE) downgraded to Hold from Buy at Canaccord... McGraw Hill Financial (MHFI) downgraded to Hold from Buy at Benchmark Co... PetSmart (PETM) downgraded to Neutral from Buy at UBS... Protective Life (PL) downgraded to Market Perform from Outperform at Raymond James... Regeneron (REGN) downgraded to Market Perform from Outperform at BMO Capital... Shaw Communications (SJR) downgraded to Neutral from Buy at BofA/Merrill... Stock Building Supply (STCK) downgraded to Neutral from Buy at Goldman... Suburban Propane (SPH) downgraded to Sell from Neutral at Goldman... Taminco (TAM) downgraded to Neutral from Buy at Goldman... Torchmark (TMK) downgraded to Underperform from Market Perform at Raymond James... Unilever (UN) downgraded to Underweight from Neutral at JPMorgan... Watsco (WSO) downgraded to Sell from Neutral at Goldman... Titan Machinery (TITN) downgraded to Sell from Hold at Cantor... Ritchie Bros. (RBA) downgraded to Sell from Hold at Cantor... Bed Bath & Beyond (BBBY) downgraded to Neutral from Buy at Gilford Securities... Hertz (HTZ) downgraded to Neutral from Buy at Goldman... Apollo Global (APO) downgraded to Perform from Outperform at Oppenheimer.
News For ARG;CRUS;XONE;PETM;MHFI;PL;REGN;SJR;STCK;SPH;TAM;TMK;UN;WSO;TITN;RBA;BBBY;HTZ;APO From The Last 14 Days
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July 24, 2015
07:16 EDTREGNFDA PDUFA Date for Regeneron and Sanofi BLA for Praluent is July 24, 2015
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07:06 EDTRBARitchie Bros. sells over $53M in equipment at Forth Worth, Texas, auction
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July 23, 2015
18:21 EDTHTZOn The Fly: Top stock stories for Thursday
Stocks began the session mixed on the heels of weak earnings reports from both Caterpillar (CAT) and 3M (MMM). The Nasdaq managed to spend most of the day in positive territory but joined the other averages in negative territory by mid-afternoon. Selling picked up momentum towards late afternoon, and by day’s end each of the averages were lower by more than 0.4%, with the Dow losing nearly 0.7%. ECONOMIC EVENTS: In the U.S., initial jobless claims fell to 255,000 in the week ended July 18, below the 278,000 first-time claims that were expected. The Leading Economic Indicators advanced 0.6% in June, exceeding expectations for a 0.3% increase. In Asia, the Shanghai Composite index advanced for a sixth straight session, adding another 2.4%. In Europe, the Greek Parliament voted to accept creditor terms for a new bailout, though a decision on when to reopen Greek financial markets was deferred to next week. COMPANY NEWS: Shares of General Motors (GM) finished the session up 3.96% to $31.50 after reporting earnings per share above analyst expectations. Other notable names rising following earnings reports include SanDisk (SNDK), Under Armour (UA), Southwest (LUV)... Caterpillar, meanwhile, dropped $2.86, or 3.59%, to $76.90 after cutting its yearly guidance during this morning's earnings report, with the company noting a "relatively stagnant" global economy. Also lower following earnings were Comcast (CMCSA, CMCSK), Bristol-Myers Squibb (BMY), Dunkin Brands (DNKN), and Boston Scientific (BSX). MAJOR MOVERS: Among the notable gainers was Cigna (CI), which rose $3.29, or 2.18%, to $154.36 after the Wall Street Journal reported last night that Anthem (ANTM) is nearing a deal to acquire the company for roughly $187, representing a total transaction value of over $48B. Adding to that report, CNBC's David Faber said on Thursday morning that Anthem will announce an agreement Friday to purchase Cigna for $188 per share, at a 45% equity, 55% cash split. Also higher were shares of numerous IT security companies, with FireEye (FEYE) advancing 4.53% and Palo Alto Networks (PANW) adding 2.33% after earnings reports from security firms Fortinet (FTNT) and F5 Networks (FFIV) beat on both top and bottom lines. Fortinet and F5, meanwhile, finished Thursday's session up 10.71% and 7.75% to $46.83 and $127.68, respectively. Among the noteworthy losers following earnings was McDonald's (MCD), which edged down 0.52% to $97.10 after noting that Q2 global comparable sales fell 0.7% for the quarter, including a 2% decline in U.S. same-store sales. Also lower was Hertz (HTZ), which declined 8.53% to $16.45 following a downgrade to Underweight at Morgan Stanley, with the research firm citing increased competition from Uber and similar mobility services. INDEXES: The Dow fell 119.12, or 0.67%, to 17,731.92, the Nasdaq lost 25.36, or 0.49%, to 5,146.41, and the S&P 500 declined 12.00, or 0.57%, to 2,102.15.
10:05 EDTCRUSHigh option volume stocks
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10:00 EDTHTZOn The Fly: Analyst Downgrade Summary
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10:00 EDTCRUSOn The Fly: Analyst Upgrade Summary
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09:13 EDTCRUSOn The Fly: Pre-market Movers
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08:12 EDTHTZHertz downgraded to Underweight at Morgan Stanley
As previously reported, Morgan Stanley downgraded Hertz to Underweight from Equal Weight with a $15 price target on shares. The firm believes consensus estimates remain too high and meaningful price increases are unlikely. Additionally, Morgan Stanley said competition from Uber-like ride sharing and new mobility models is accelerating faster than expected.
07:21 EDTCRUSCirrus Logic upgraded on results, new product outlook at Stifel
As noted earlier, Stifel upgraded Cirrus to Buy from Hold. After the company delivered beat and raise results, Stifel notes that Cirrus reported record revenue. The firm is upbeat about the outlook for the company's upcoming products, and predicts that its new 55nm technology node will provide better scale with suppliers and cost advantages. Target $45.
06:47 EDTCRUSCirrus Logic upgraded to Buy from Hold at Stifel
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06:42 EDTHTZHertz downgraded to Underweight from Equal Weight at Morgan Stanley
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05:27 EDTUNUnilever reports 1H15 core EPS up 16% to EUR 0.91
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July 22, 2015
19:02 EDTCRUSOn The Fly: After Hours Movers
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16:03 EDTCRUSCirrus Logic trades higher after earnings
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16:02 EDTCRUSCirrus Logic sees Q2 revenue $290M-$310M, consensus $274.2M
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16:01 EDTCRUSCirrus Logic reports Q1 EPS 54c, consensus 43c
Reports Q1 revenue $282.6M, consensus $260.73M.
12:32 EDTCRUSOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday as slides in a number of big name tech stocks following their earnings reports dominated the news flow and largely dictated the market's direction. ECONOMIC EVENTS: In the U.S., the FHFA home price index rose 0.4% to 222.8 in May, as expected. Existing home sales rose 3.2% to a 5.49M rate in June, better than the 0.9% increase that was expected. In Europe, the European Central Bank reportedly raised the cap on Greece's Emergency Liquidity Assistance by EUR900M to EUR90.4B, according to Bloomberg. COMPANY NEWS: The tech sector has been weak, headlined of course by a 5% pullback in shares of Apple (AAPL) after iPhone shipments in the just completed quarter and the company's sales forecast for the new quarter missed estimates. Adding to the negative tone in tech stocks, and contributing further to the decline in the Nasdaq, was the 3% drop seen in Microsoft (MSFT) shares after its quarterly report as well as Yahoo's (YHOO) 1% decline after its revenue outlook missed the consensus forecast... Shares of Boeing (BA) and Coca-Cola (KO) fared better than Dow peer Apple after each reported better than expected sales and profits, though neither stock was moving far from where they closed yesterday's trading. MAJOR MOVERS: Among the notable gainers was Thoratec (THOR), which rose 10% after the company agreed to be acquired by St. Jude Medical (STJ) for $3.4 billion in cash, or $63.50 per share. St. Jude shares advanced fractionally after the deal, which had been foreshadowed by media reports yesterday, was announced. Also higher following their earnings reports were Intuitive Surgical (ISRG), which gained 10%, Chipotle Mexican Grill (CMG), which advanced 8% and Whirlpool (WHR), which was up 6%. Among the noteworthy losers were a number of suppliers to Apple that declined in tandem with the tech giant after it reported a sequential drop in iPhone sales. Skyworks Solutions (SWKS), Cirrus Logic (CRUS), Qorvo (QRVO) and NXP Semiconductors (NXPI) were among the many semiconductor stocks that slid following Apple's report. Also sharply lower was antibody-based therapeutics maker XOMA (XOMA), which plunged more than 73% and was downgraded to Neutral at Piper Jaffray after a Phase III trial of its gevokizumab drug in patients with Behcet's disease uveitis did not meet its primary endpoint. INDEXES: Near midday, the Dow was down 82.22, or 0.46%, to 17,837.07, the Nasdaq was down 42.68, or 0.82%, to 5,165.44, and the S&P 500 was down 6.93, or 0.33%, to 2,112.28.
10:01 EDTREGNOn The Fly: Analyst Initiation Summary
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08:39 EDTREGNRegeneron initiated with a Market Perform at Northland
Northland analyst James Kuo started shares of Regeneron Pharmaceuticals with a Market Perform rating and $500 price target. Pointing out that shares are up 34% year-to-date and 80% year-over-year, Kuo prefers to watch the upcoming launch of Praluent from the sidelines.
07:32 EDTCRUSCirrus Logic July weekly volatility elevated into Q1 and outlook
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