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Stock Market & Financial Investment News

News Breaks
September 30, 2013
10:01 EDTARIA, SSI, WWAV, SYT, RKT, RP, JCI, PNRA, IP, CHRW, ACHN, JCP On The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ARIAD (ARIA) downgraded to Market Perform from Outperform at BMO Capital... Achillion (ACHN) downgraded to Underperform from Neutral at BofA/Merrill... C.H. Robinson (CHRW) downgraded to Underperform from Sector Perform at RBC Capital... International Paper (IP) downgraded to Neutral from Buy at BofA/Merrill... Johnson Controls (JCI) downgraded to Underweight from Equal Weight at Morgan Stanley... Panera Bread (PNRA) downgraded to Equal Weight from Overweight at Morgan Stanley... RealPage (RP) downgraded to Underperform from Neutral at Credit Suisse... RockTenn (RKT) downgraded to Neutral from Buy at BofA/Merrill... Syngenta (SYT) downgraded to Neutral from Buy at Citigroup... WhiteWave Foods (WWAV) downgraded to Underperform from Market Perform at BMO Capital... Stage Stores (SSI) downgraded to Neutral from Buy at Buckingham... J.C. Penney (JCP) downgraded to Hold from Buy at Maxim.
News For ARIA;ACHN;CHRW;IP;PNRA;JCI;RP;RKT;SYT;WWAV;SSI;JCP From The Last 14 Days
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August 13, 2014
11:56 EDTJCPStocks with call strike movement; JCP DDD
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11:46 EDTJCPMacy's shares trading lower as Q2 results fall short of expectations
Shares of Macy's (M), a retailer that sells a range of merchandise, including apparel, accessories and home furnishings, are lower after the company's second earnings missed analysts' expectations. WHAT'S NEW: The company reported Q2 earnings per share 80c on revenue of $6.23B, falling short of analysts' estimates of 86c and $6.3B, respectively. Comparable sales were up 3.4% for the quarter and comparable sales together with comparable sales of departments licensed to third parties were up 4%. Chief Executive Officer Terry Lundgren noted that even with an improved sales trend in Q2, the company could not make up its sales shortfall from the first quarter. Looking ahead, Macy's reaffirmed its fiscal year 2014 EPS view of $4.40-$4.50 against estimates of $4.47, but cut its FY14 SSS view to 1.5%-2% from 2.5%-3%. Second half same store sales are expected to be up 2%-3%, and the company said expectations for the second half of the year are "on track." Lundgren said the company is approaching 2H with "confident optimism." WHAT'S NOTABLE: On the company's earnings conference call, Macy's Chief Financial Officer Karen Hoguet said the retail expects third quarter SSS to be lower than fourth quarter, adding that it "feels good" about the back half of the year. Macy's said that it sees fall season EPS, or the combined EPS for Q3 and Q4, of $3.04-$3.14 and expects total sales for the second half of the year to be about 30 basis points lower than comp growth. Macy's sees gross margins flat to down slightly for the year and fall season. ANALYST OPINION: This morning, UBS analysts said the Q2 miss could signal Macy's have been unable to generate incremental margin support from brands into increasingly promotional sales trends. Morgan Stanley analysts, meanwhile, believes the Q2 miss and the pullback in shares will be temporary and it presents a buying opportunity. The firm expects more margin misses over the next few weeks due to the promotional environment and remains convinced that Macy's key strategies are still in the early stages of delivering results. PRICE ACTION: In late-morning trading, shares of Macy's dropped $2.89, or 4.84%, to $56.88. OTHERS TO WATCH: J.C. Penney (JCP), which reports earnings tomorrow, is down 2.15%. Nordstrom (JWN), which also reports earnings tomorrow, is relatively flat.
August 12, 2014
13:43 EDTJCPEarnings Preview: Analyst sees Macy's lowering EPS, SSS guidance for FY14
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11:44 EDTJCIJohnson Controls repeats view of Q4 EPS $1.00-$1.02, consensus $1.02
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10:25 EDTJCPJ.C. Penney August volatility elevated into Q2 and outlook
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August 11, 2014
15:23 EDTJCIJPMorgan to hold a conference
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10:19 EDTACHN, JCPOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Achillion (ACHN) upgraded to Outperform from Market Perform at Wells Fargo... Alon USA Partners (ALDW) upgraded to Outperform from Neutral at Credit Suisse... Buenaventura (BVN) upgraded to Buy from Underperform at BofA/Merrill... CNO Financial (CNO) upgraded to Overweight from Equal Weight at Morgan Stanley... Central European Media (CETV) upgraded to Neutral from Sell at Goldman... Cepheid (CPHD) upgraded to Neutral from Cautious at ISI Group... Chuy's (CHUY) upgraded to Outperform from Market Perform at Raymond James... Compressco (GSJK) upgraded to Strong Buy from Market Perform at Raymond James... Concho Resources (CXO) upgraded to Overweight from Equal Weight at Stephens... Frank's International (FI) upgraded to Neutral from Sell at Goldman... Freeport McMoRan (FCX) upgraded to Buy from Hold at Argus... GNC Holdings (GNC) upgraded to Outperform from Neutral at Credit Suisse... Genworth (GNW) upgraded to Equal Weight from Underweight at Morgan Stanley... Gulfport Energy (GPOR) upgraded at Stifel... Huntington Ingalls (HII) upgraded to Buy from Neutral at UBS... Hyatt Hotels (H) upgraded at Stifel... J.C. Penney (JCP) upgraded to Hold from Sell at Craig-Hallum... Kinder Morgan (KMI) upgraded to Buy from Neutral at BofA/Merrill... Krispy Kreme (KKD) upgraded to Outperform from Neutral at Wedbush... Oasis Petroleum (OAS) upgraded to Buy from Neutral at Sterne Agee... PepsiCo (PEP) upgraded to Buy from Neutral at UBS... Regency Centers (REG) upgraded to Neutral from Underperform at BofA/Merrill... SandRidge Energy (SD) upgraded to Reduce from Sell at KLR Group... Southwest Gas (SWX) upgraded to Buy from Hold at Brean Capital... Tesla (TSLA) upgraded to Buy from Hold at Deutsche Bank.
09:10 EDTJCPJ.C. Penney upgraded to Hold from Sell at Craig-Hallum
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09:06 EDTACHNOn The Fly: Pre-market Movers
HIGHER: PharmAthene (PIP), up 55% after announcing that a Delaware court awarded the company lump sum expectation damages for the value of its lost profits for SIGA Technologies' (SIGA) smallpox antiviral, Tecovirimat... MannKind (MNKD), up 19% after entering exclusive licensing agreement for development and commercialization of Afrezza inhaled insulin with Sanofi (SNY)... Kinder Morgan (KMI), up 19% after announcing it will acquire all of the outstanding equity securities of Kinder Morgan Energy Partners (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB)... Tesla (TSLA), up 2.7% following upgrade at Deutsche Bank... Achillion (ACHN), up 6% following upgrades at Wells Fargo and at Piper Jaffray... PepsiCo (PEP), up 0.9% following upgrade at UBS. LOWER: Dean Foods (DF), down 8.6% after reporting Q2 losses that were steeper than expected, saying balance of year "appears rocky," which makes it difficult to provide guidance beyond the immediate quarter... Priceline (PCLN), down 0.7% after reporting Q2 revenue that missed expectations, guiding Q3 EPS below consensus... SIGA Technologies, down 31% after ruling in suit with PharmAthene... 2U (TWOU), down 4.3% after downgraded at Goldman.
05:48 EDTACHNAchillion upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo upgraded Achillion to Outperform citing the potential for multiple near-term catalysts around the company's hepatitis C portfolio. Wells raised its price target range for shares to $11-$13 from $7-$8. Achillion was also upgraded this morning at Piper Jaffray.
05:29 EDTACHNAchillion upgraded to Overweight from Neutral at Piper Jaffray
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August 7, 2014
16:53 EDTACHNAchillion reports Q2 EPS (16c), consensus (18c)
President and CEO Milind Deshpande said, "We remain committed to our goal of initiating a Phase 2 trial by the end of 2014, pending regulatory approval, which will evaluate ACH-3422 in combination with ACH-3102 for patients with chronic HCV for treatment durations of eight weeks or less. We also remain confident that our strong balance sheet will fund our operations into 2016." Cash, cash equivalents, marketable securities, and interest receivable as of June 30 were $132.2M.
08:10 EDTWWAVWhiteWave Foods raises FY14 adjusted EPS view to 98c-$1.00 from 95c-98c
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08:10 EDTWWAVWhiteWave Foods sees Q3 adjusted EPS 25c-26c, consensus 26c
Management expects net sales growth of approximately 30 percent in the third quarter of 2014, which reflects typical seasonality in Earthbound Farmís business.
08:08 EDTWWAVWhiteWave Foods reports Q2 adjusted EPS 23c, consensus 28c
Reports Q2 revenue $837.9M, consensus $815.44M.
07:23 EDTJCPJ.C. Penney August volatility elevated into Q2 and outlook
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August 6, 2014
07:48 EDTIP, RKTHighway bill could boost IP, RockTenn shares, says Jefferies
Jefferies notes the Senate and House agreed last week on the highway bill, which allows corporations to push out pension contributions. The firm thinks the bill will accelerate free cash flow generation for International Paper (IP), RockTenn (RKT) and Sonoco (SON). Jefferies believes shares of International Paper and RockTenn could move higher since the paper names are mainly valued on free cash flow. The firm does not expect much pension relief from the bill for Owens-Illinois (OI), Crown Holdings (CCK) and Graphic Packaging (GPK).
07:47 EDTJCPRetailers pare store openings as shopper visits slide, WSJ says
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07:38 EDTARIAARIAD sees cash used in operations in FY14 $165M-$175M
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07:37 EDTARIAARIAD reports Q2 EPS (30c), consensus (29c)
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