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Stock Market & Financial Investment News

News Breaks
March 4, 2014
10:01 EDTAAP, SC, LADR, DWA, DSPG, PG, INFI, TIVO, TEN, MNST, FTNT, GTAT, CL, CLX, ARGS, ENR, KO, CHD, EL, DPS, CCE, AVPOn The Fly: Analyst Initiation Summary
Argos Therapeutics (ARGS) initiated with an Overweight at Piper Jaffray... Avon Products (AVP) initiated with a Sell at UBS... Church & Dwight (CHD) initiated with a Buy at UBS... Clorox (CLX) initiated with a Sell at UBS... Coca-Cola Enterprises (CCE) initiated with a Neutral at UBS... Coca-Cola (KO) initiated with a Neutral at UBS... Colgate-Palmolive (CL) initiated with a Buy at UBS Dr Pepper Snapple (DPS) initiated with a Neutral at UBS... Energizer (ENR) initiated with a Sell at UBS... Estee Lauder (EL) initiated with a Buy at UBS... GT Advanced (GTAT) initiated with a Buy at Goldman... Infinity Pharmaceuticals (INFI) initiated with an Underperform at Wedbush... Ladder Capital (LADR) initiated with an Outperform at Keefe Bruyette... Monster Beverage (MNST) initiated with a Buy at UBS... Procter & Gamble (PG) initiated with a Neutral at UBS... Santander Consumer USA (SC) initiated with an Outperform at Wells Fargo... Tenneco (TEN) initiated with a Buy at UBS... DSP Group (DSPG) initiated with a Buy at Dougherty... Advance Auto Parts (AAP) initiated with an Equal Weight at Stephens... TiVo (TIVO) initiated with a Buy at Topeka... DreamWorks Animation (DWA) initiated with a Hold at Topeka... Fortinet (FTNT) coverage assumed with an Outperform at Wedbush.
News For ARGS;AVP;CHD;CLX;CCE;KO;CL;DPS;ENR;GTAT;EL;INFI;LADR;MNST;PG;SC;TEN;DSPG;AAP;TIVO;DWA;FTNT From The Last 14 Days
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January 27, 2016
10:00 EDTDWAOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: BG Group (BRGYY) downgraded to Neutral from Outperform at Credit Suisse... Bed Bath & Beyond (BBBY) downgraded to Sell from Neutral at Citi... Bill Barrett (BBG) downgraded to Neutral from Buy at Ladenburg... Brown & Brown (BRO) downgraded to Underweight at Morgan Stanley... Buffalo Wild Wings (BWLD) downgraded to Neutral from Buy at BTIG... Canadian National (CNI) downgraded to Market Perform from Outperform at Raymond James... DreamWorks (DWA) downgraded to Sell from Hold at Topeka... FirstMerit (FMER) downgraded at RBC Capital... Gentex (GNTX) downgraded to Neutral from Outperform at Baird... Haverty Furniture (HVT) downgraded to Sector Weight from Overweight at KeyBanc... Hercules Technology (HTGC) downgraded to Neutral from Buy at Compass Point... Horizon Technology (HRZN) downgraded to Market Perform from Outperform at Raymond James... Installed Building downgraded to Sector Weight from Overweight at KeyBanc... Jarden (JAH) downgraded to Neutral from Buy at Citi... K+S (KPLUF) downgraded to Sell from Hold at Berenberg... La-Z-Boy (LZB) downgraded at BB&T... Legacy Reserves (LGCY) downgraded to Market Perform from Outperform at FBR Capital... Medivation (MDVN) downgraded to Hold from Buy at Canaccord... Merck (MRK) downgraded to Neutral from Buy at BofA/Merrill... Metaldyne Performance (MPG) downgraded to Neutral from Outperform at Baird... Pier 1 Imports (PIR) downgraded to Sector Weight from Overweight at KeyBanc... Priceline (PCLN) downgraded to Neutral from Buy at Goldman... Profire Energy (PFIE) downgraded to Neutral from Buy at Chardan... Regeneron (REGN) downgraded to Hold at Canaccord... Starwood (HOT) downgraded to Underperform from Outperform at CLSA... Swiss Re (SSREY) downgraded to Equal Weight from Overweight at Morgan Stanley... TSYS (TSS) downgraded to Equal-Weight from Overweight at First Analysis... Talmer Bancorp (TLMR) downgraded to Sector Perform from Outperform at RBC Capital... TopBuild (BLD) downgraded to Sector Weight from Overweight at KeyBanc... TripAdvisor (TRIP) downgraded to Sell from Neutral at Goldman... VMware (VMW) downgraded to Hold from Buy at Summit Research... W.R. Grace (GRA) downgraded to Buy from Conviction Buy at Goldman... WEC Energy (WEC) downgraded to Neutral from Conviction Buy at Goldman... Welltower (HCN) downgraded to Underperform from Market Perform at BMO Capital... Yamana Gold (AUY) downgraded to Neutral from Overweight at JPMorgan.
07:07 EDTDWADreamWorks downgraded to Sell from Hold at Topeka
Topeka analyst David Miller downgraded DreamWorks to Sell citing valuation and maintained his $19 price target on shares. The analyst believes shares already reflect Kung Fu Panda 3 expectations and recommends shareholders trim positions.
06:21 EDTSCSantander Consumer reports Q4 EPS 19c, may not compare to consensus 56c
Reports Q4 CET1 capital ratio 11.2%.
06:14 EDTTIVOFCC proposes set-top box rule revamp, WSJ reports
Federal regulators are anticipated to propose an overhaul of rules for television set-top boxes, a move that targets reducing bills for cable viewers and giving more access to web-based programming, the Wall Street Journal reports. FCC chairman Tom Wheeler's proposal would likely include providing cable and satellite customers more options when it comes to using their service provider's set-top box and cable app, the report says. Such a move could open up the market to alternative set-top-box providers, including TiVo (TIVO) and Alphabet's (GOOG) Google, the report notes. Reference Link
January 26, 2016
16:20 EDTPGOn The Fly: Top stock stories for Tuesday
Stocks began Tuesday in positive territory, once again trading in tandem with oil prices. The Dow led today's gains thanks in part to earnings reports from 3M (MMM), Proctor & Gamble (PG) and Johnson & Johnson (JNJ), though the Nasdaq struggled early in the day. Following a better than expected reading on consumer confidence and a rip in oil prices, stocks continued to pile on gains in the afternoon, with the major indexes all going out near their highs. ECONOMIC EVENTS: In the U.S., the S&P/Case-Shiller 20-city home price index rose 5.8% from the prior year in November, topping expectations for a 5.7% year-over-year increase. The separate FHFA house price index showed a monthly gain of 0.5% in November, matching the consensus forecast. Markit's services PMI for January came in at 53.7, missing the 54.0 forecast. The preliminary reading of the Conference Board's consumer confidence index for January came in at 98.1, topping the 96.5 reading that was expected. In Asia, Japan's Nikkei index fell 2.35% while China's Shanghai composite slid 6.4%. COMPANY NEWS: Earnings season accelerated Tuesday as major members of the bluechip Dow Jones Industrial Average posted results before the opening bell. 3M lead the pack with a gain of 5.16% to $144.79, while Johnson & Johnson, Procter & Gamble and DuPont (DD) added 4.86%, 2.55% and 0.89%, respectively, following their reports... AIG (AIG) provided its much-anticipated strategy update, committing to return at least $25B to shareholders over the next two years and announcing the sale of AIG Advisor Group to Lightyear Capital and PSP Investments. The company, under ongoing pressure from activist investors including Carl Icahn, also said it will publicly offer a portion of its United Guaranty unit, though it expressly rejected a full company breakup. MAJOR MOVERS: Among the notable gainers was Terex (TEX), which surged 36.5% to $20.48 after receiving a $30 per share acquisition offer from China's Zoomlion. Terex peers Manitowoc (MTW), Joy Global (JOY) and Oshkosh (OSK) also saw respective gains of 16%, 9.5% and 5.5% after the news. In other M&A news, FirstMerit (FMER) jumped 18.35% after a merger agreement with Huntington Bancshares (HBAN). Also higher was Weight Watchers (WTW), which rose nearly 20% to $13.32 after noted shareholder and partner Oprah Winfrey tweeted a video detailing her progress and weight loss using the company's program. In addition, Sprint (S) soared 18.65% to $2.99 after reporting losses for the quarter that were not as steep as expected and raising its fiscal year EBITDA forecast. Among the noteworthy losers was Leidos (LDOS), which declined 9% to $48.83 after reaching an agreement with Lockheed Martin (LMT) to combine with the company's realigned Information Systems & Global Solutions unit in a Reverse Morris Trust transaction. Also lower was Centene (CNC), which lost 2.26% to $59.99 after revealing it has potentially misplaced six hard drives containing personal data on nearly 1M individuals. Meanwhile, Polaris (PII) dipped 9.15% to $72.99 after its fourth quarter report. INDEXES: The Dow rose 282.01, or 1.78%, to 16,167.23, the Nasdaq gained 49.18, or 1.09%, to 4,567.67, and the S&P 500 advanced 26.55, or 1.41%, to 1,903.63.
12:16 EDTPGOn The Fly: Top stock stories at midday
Stocks began the session in positive territory moved cautiously in the opening segment, before shooting higher following the better than expected consumer confidence reading. The Dow is the biggest winner and is up more than 1.5% while the Nasdaq has been lagging but is up more than 0.6%. ECONOMIC EVENTS: In the U.S., the S&P/Case-Shiller 20-city home price index rose 5.8% from the prior year in November, topping expectations for a 5.7% year-over-year increase. The separate FHFA house price index showed a monthly gain of 0.5% in November, matching the consensus forecast. Markit's services PMI for January came in at 53.7, missing the 54.0 forecast. The preliminary reading of the Conference Board's consumer confidence index for January came in at 98.1, topping the 96.5 reading that was expected. In Asia, Japan's Nikkei index fell 2.35% while China's Shanghai composite slid 6.4%. COMPANY NEWS: The volume of earnings reports took a step up, with four members of the bluechip Dow Jones Industrial Average posting results before the opening bell this morning. All four advanced on the heels of their reports, with 3M (MMM) leading the pack with a gain of 4.5% despite earnings, excluding restructuring charges, that missed the consensus forecast. The industrial conglomerate did, however, affirm its performance expectations for the new fiscal year. Meanwhile, Johnson & Johnson (JNJ) rose 3%, Procter & Gamble (PG) gained 2.7% and DuPont (DD) added 1.6%... AIG (AIG) provided its much-anticipated strategy update, committing to return at least $25B to shareholders over next two years and announcing that it has agreed to sell AIG Advisor Group to private equity firm Lightyear Capital and Canadian pension investment manager PSP Investments. AIG also said it will pursue an initial public offering of United Guaranty in mid-2016 to sell up to 19.9% of the outstanding shares as a first step towards a full separation. However, the insurer said it believes a full breakup, as espoused by investor Carl Icahn, would detract from shareholder value, arguing that a lack of diversification benefits would reduce capital available for distribution and there would be a loss of tax benefits. MAJOR MOVERS: Among the notable gainers was Avis Budget (CAR), which rallied 7% after the company raised its share repurchase authorization by $300M and after SRS Investment reported a 9.5% stake in the company. Also higher were Sprint (S) and Coach (COH), which gained 20% and 11%, respectively, after reporting quarterly earnings. In addition, FirstMerit (FMER) rose 16% after reporting quarterly earnings and announcing that it will merge with Huntington Bancshares (HBAN) in a deal valued at $3.4B. Huntington Bancshares fell 10% after the FirstMerit merger agreement was announced. Also lower was Stratasys (SSYS), which dropped 6% after JPMorgan downgraded the shares to Neutral from Overweight. In addition, Polaris (PII) and Waters Corporation (WAT) were down 11% and 4.5%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was up 273.66, or 1.72%, to 16,158.88, the Nasdaq was up 49.20, or 1.09%, to 4,567.69, and the S&P 500 was up 25.96, or 1.38%, to 1,903.04.
10:17 EDTPGProcter & Gamble rallies, potential bullish pattern
The shares are rallying post-earnings with the stock last up over 3% to $79.28. At that price, the $80 level is next resistance. The $80 level marks the top of a potential bullish ascending triangle pattern. A breakout above $80 is required for the triangle to become active. Upside potential for the pattern over time, assuming it completes, would be to the $95 area.
10:00 EDTFTNTOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Amec Foster Wheeler (AMFW) downgraded to Hold from Buy at HSBC... CVR Refining (CVRR) downgraded to Sell from Neutral at Goldman... Cenovus Energy (CVE) downgraded to Neutral from Buy at UBS... Clean Harbors (CLH) downgraded to Underperform from Market Perform at Raymond James... Core Laboratories (CLB) downgraded to Reduce from Hold at HSBC... Delek US (DK) downgraded to Neutral from Buy at Goldman... Deutsche Post (DPSGY) downgraded to Underperform from Outperform at Credit Suisse... Disney (DIS) downgraded to Neutral on reduced ESPN forecasts at Atlantic Equities... Dorian LPG (LPG) downgraded to Market Perform from Outperform at Wells Fargo... Encana (ECA) downgraded to Neutral from Buy at UBS... Fortinet (FTNT) downgraded to Hold from Buy at Deutsche Bank... Fortune Brands (FBHS) downgraded to Neutral from Outperform at Credit Suisse... General Growth (GGP) downgraded to Equal Weight from Overweight at Barclays... Golden Ocean (GOGL) downgraded to Underweight from Neutral at JPMorgan... Grupo Mexico (GMBXF) downgraded to Neutral from Overweight at JPMorgan... Halliburton (HAL) downgraded to Hold from Buy at HSBC... Marketo (MKTO) downgraded to Underperform at BofA/Merrill... Navios Maritime (NM) downgraded to Neutral from Overweight at JPMorgan... NetSuite (N) downgraded to Underperform at BofA/Merrill... OM Asset Management (OMAM) downgraded to Equal Weight at Morgan Stanley... Paylocity (PCTY) downgraded to Underperform from Neutral at BofA/Merrill... Pennsylvania REIT (PEI) downgraded to Underweight from Equal Weight at Barclays... Pinnacle West (PNW) downgraded to Hold from Buy at Evercore ISI... Public Storage (PSA) downgraded to Equal Weight from Overweight at Barclays... Red Hat (RHT) downgraded to Neutral from Buy at BofA/Merrill... Regal Entertainment (RGC) downgraded on valuation at RBC Capital... Rouse Properties (RSE) downgraded to Equal Weight from Overweight at Barclays... Star Bulk Carriers (SBLK) downgraded to Neutral from Overweight at JPMorgan... Stratasys (SSYS) downgraded to Neutral from Overweight at JPMorgan... Subsea 7 (SUBCY) downgraded to Reduce from Hold at HSBC... US Ecology (ECOL) downgraded to Market Perform from Outperform at Raymond James... USG (USG) downgraded to Underperform from Neutral at Credit Suisse... Vornado (VNO) downgraded to Equal Weight from Overweight at Barclays... Weir Group (WEIGY) downgraded to Underperform from Hold at Jefferies.
09:18 EDTPGProcter & Gamble sees Duracell deal on track to close this quarter
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09:13 EDTPGProcter & Gamble CFO sees 'significant opportunity' remaining in China
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08:39 EDTPGProcter & Gamble sees delivering over $7B in cost of goods savings by end year
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07:04 EDTPGP&G backs FY16 constant currency core EPS growth of mid-to-high single digits
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07:02 EDTPGProcter & Gamble reports Q2 organic sales up 2%
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07:01 EDTPGProcter & Gamble reports Q2 core EPS $1.04, consensus 98c
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05:57 EDTFTNTFortinet downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Imtiaz Koujalgi downgraded Fortinet to Hold saying his Q4 channel checks indicated a slowdown in momentum. The analyst sees downside risk to expectations and cut his price target for the shares to $34 from $49.
January 25, 2016
14:29 EDTPGNotable companies reporting before tomorrow's open
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13:37 EDTPGEarnings Watch: Stifel bullish on Procter & Gamble ahead of Q2 earnings report
Procter & Gamble (PG), a consumer packaged goods company, is scheduled to report second quarter earnings before the market open on Tuesday, January 26, with a conference call scheduled for 8:30 a.m. ET. EXPECTATIONS: Analysts are looking for earnings per share of 98c on revenue of $16.94B. The consensus range for EPS is 93c-$1.05 on revenue of $16.44B-$17.4B, according to First Call. LAST QUARTER: Procter & Gamble reported first quarter core EPS of 98c on revenue of $16.53B, compared to analyst estimates of 95c and $17.17B, respectively. The company said that organic sales decreased 1% and that operating cash flow for the quarter was $3.5B. On its Q1 earnings conference call, the company said it expects top line growth to resume in Q2, with further strengthening in the back half of the quarter. Procter & Gamble also said that it had a "good start" to Q2, with October-to-date organic sales growth at the time of 3%. NEWS: On November 18, Procter & Gamble repeated its fiscal 2016 guidance in slides that were presented at the Morgan Stanley Global consumer and Retail Conference. The company backed its FY16 core EPS growth view of down slightly to up mid single digits. At the same conference, the company said it was "not averse" to looking at any option that creates value for stakeholders. On December 7, the Wall Street Journal reported that P&G was moving the lion's share of its media-buying and planning account in North America to Omnicom (OMC) Media Group. A week and a half later, Procter & Gamble, through its subsidiary Gillette, filed a patent infringement lawsuit against Dollar Shave Club alleging that the discount shaving products company violated Gillette's intellectual property by selling infringing razors. On December 29, the Wall Street Journal reported that the consumer packaged goods company was discontinuing a sixth of its Olay products, reducing the Olay product line to roughly 120 products. On January 12, Coty (COTY) confirmed that ten P&G fragrance licenses will transfer to Coty upon regulatory approval and completion of the merger transaction, including Hugo Boss, Gucci, Lacoste, Bruno Banani, Escada, Mexx, James Bond, Gabriela Sabatini, Stella McCartney, and Alexander McQueen. STREET RESEARCH: On January 19, Stifel upgraded Procter & Gamble to Buy from Hold with an $85 price target on shares, saying that it expects the company's sales and operating profit to accelerate as a result of market share gains and cost savings. Stifel added that it expects the company's multiple to rise as well. PRICE ACTION: Procter & Gamble shares are fractionally higher over the last three months. In afternoon trading ahead of Tuesday's earnings report, shares are down roughly 0.3% to $77.14.
12:22 EDTPGProcter & Gamble technical comments before earnings
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05:51 EDTPGOptions expected to be active: TYC JCI TWTR SUNE AAPL PG HAL AMZN FB
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05:16 EDTPGHilton announces midscale brand Tru by Hilton
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