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Stock Market & Financial Investment News

News Breaks
January 15, 2014
10:00 EDTBBBY, WSO, TAM, SJR, MHFI, CRUS, APO, RBA, UN, SPH, REGN, PETM, ARG, HTZ, TITN, TMK, STCK, PL, XONEOn 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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November 14, 2014
07:21 EDTHTZHertz: Lower revenue growth, higher directing expenses are transitionary
Interim CEO Brian MacDonald said, "We believe the lower revenue growth and higher direct operating expenses we are experiencing in 2014 are transitory, primarily associated with fleet and systems integration challenges related to the Dollar Thrifty acquisition as well as some execution issues. We are addressing the operational issues by strategically repositioning the fleet, hiring incremental sales and maintenance staff and migrating the Dollar and Thrifty financial and counter systems onto Hertz systems. Accordingly, 2015 will represent a transitional year with a more normal base performance becoming evident in 2016."
07:20 EDTHTZHertz sees FY14 corporate EBITDA $1.3B-$1.45B
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07:20 EDTHTZHertz reports Q3 revenue $3.12B, compared to $3.07B a year ago
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07:17 EDTHTZHertz to restate 2011, 2012, 2013 financial statements
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07:16 EDTHTZHertz to implement global cost reduction program
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07:16 EDTHTZHertz announces new U.S. rental car fleet strategy
Hertz announced a new fleet purchasing strategy to improve the U.S. rental car business's competitive position and customer experience. Hertz will purchase roughly 350,000 model year 2015 vehicles in the U.S., approximately 60% more than the model year 2014 vehicles. Approximately 25% of the model year 2015 fleet buy is being delivered in the fourth quarter of 2014. Approximately 70% of the U.S. operating fleet is expected to be risk vehicles in calendar year 2015 versus approximately 85% in 2014. As the company strategically transforms the U.S. fleet, the average U.S. risk-car holding period for 2014 and 2015 model year vehicles is expected to be substantially lower than the 2013 model year holding periods. To accelerate its fleet transformation, the company increased its fourth quarter U.S. risk vehicle dispositions by 45% versus plan, targeting its highest mileage vehicles. As of the end of October, approximately 40% of the sales planned for fourth quarter 2014 have been completed. For the full year 2014, U.S. car rental monthly depreciation per vehicle is expected to be approximately $280 - $300 per unit, which is higher than forecast primarily due to the accelerated disposition timeline and weaker residual values.
05:37 EDTSPHSuburban Propane downgraded to Underperform from Neutral at Credit Suisse
Credit Suisse downgraded Suburban Propane to Underperform citing valuation following the company's Q4 results. The firm keeps a $45 price target for shares.
November 13, 2014
18:21 EDTAPOHostess Brands owners said planning sale for early next year, Bloomberg says
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14:50 EDTHTZLonestar Capital to shut down by mid-2015, WSJ reports
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14:45 EDTHTZLonestar capital to shut down, DJ reports
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12:59 EDTAPOApollo plans bid for GSK mature drugs business, Reuters reports
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07:32 EDTSPHSuburban Propane reports Q4 retail propane gallons sold down 2.9% to 76M gallons
Sales of fuel oil and other refined fuels decreased 800K gallons, to 5.5M gallons during the fourth quarter of fiscal 2014. The decrease in propane volumes sold was primarily driven by customer conservation; particularly in the non-residential segment, offset to an extent by an increase in residential volumes sold.
07:31 EDTSPHSuburban Propane reports Q4 EPS (90c), consensus (87c)
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November 12, 2014
18:29 EDTXONE, APOOn The Fly: After Hours Movers
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17:16 EDTXONEExOne sees FY14 revenue $45M-$50M, consensus $54.16M
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17:16 EDTXONEExOne reports Q3 EPS (31c), consensus (13c)
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16:47 EDTAPORexnord offers 14.73M shares of common stock for Apollo Global
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15:29 EDTXONENotable companies reporting after market close
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08:13 EDTREGNBoston Biotech to hold a conference
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07:28 EDTAPOBofA/Merrill to hold a conference
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