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Stock Market & Financial Investment News

News Breaks
January 15, 2013
10:03 EDTDELL, LULU, AXP, BHP, SYA, VRTX, WSO, FISV, UAL, AMTD, RKT, PDCO, DY, ARMH, SIRO, REGN, PAAS, BIIB, SSRI, PFG, LOGI, AFLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ARM Holdings (ARMH) downgraded to Equal Weight from Overweight at Morgan Stanley... Aflac (AFL) downgraded to Neutral from Buy at Sterne Agee... Biogen (BIIB) downgraded to Neutral from Buy at BofA/Merrill... Dycom (DY) downgraded to Outperform from Strong Buy at Raymond James... Logitech (LOGI) downgraded to Underperform from Neutral at Credit Suisse... Pan American Silver (PAAS) downgraded to Hold from Buy at Deutsche Bank... Patterson Companies (PDCO) downgraded to Sell from Neutral at Goldman... Principal Financial (PFG) downgraded to Neutral from Buy at Sterne Agee... Regeneron (REGN) downgraded to Hold from Buy at Jefferies... Rock-Tenn (RKT) downgraded to Buy from Conviction Buy at Goldman... Silver Standard (SSRI) downgraded to Sell from Hold at Deutsche Bank... Sirona Dental (SIRO) downgraded to Neutral from Buy at Goldman... Symetra Financial (SYA) downgraded to Underperform from Neutral at Sterne Agee... TD Ameritrade (AMTD) downgraded to Neutral from Buy at Sterne Agee... Watsco (WSO) downgraded to Neutral from Outperform at RW Baird... BHP Billiton (BHP) downgraded to Hold from Buy at Dahlman Rose... United Continental (UAL) downgraded to Neutral from Overweight at JPMorgan... Vertex (VRTX) downgraded to Neutral from Buy at Lazard Capital... American Express (AXP) downgraded to Underweight from Neutral at JPMorgan... Fiserv (FISV) downgraded to Equal Weight from Overweight at First Analysis... lululemon (LULU) downgraded to Underperform from Neutral at Buckingham... Dell (DELL)downgraded to Neutral from Buy at Monness Crespi.
News For ARMH;AFL;BIIB;DY;LOGI;PAAS;PDCO;PFG;REGN;RKT;SSRI;SIRO;SYA;AMTD;WSO;BHP;UAL;VRTX;AXP;FISV;LULU;DELL From The Last 14 Days
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February 2, 2016
10:01 EDTLOGIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Agnico Eagle (AEM) downgraded to Hold from Buy at Desjardins... Alere (ALR) downgraded to Hold from Buy at Canaccord... Antero Resources (AR) downgraded to Reduce from Neutral at SunTrust... Carbylan (CBYL) downgraded to Market Perform from Outperform at Leerink... Copa Holdings (CPA) downgraded to Hold from Buy at Deutsche Bank... Dominion (D) downgraded to Neutral from Buy at Citi... Duke Energy (DUK) downgraded to Market Perform from Outperform at Wells Fargo... Hain Celestial (HAIN) downgraded to Neutral from Overweight at Piper Jaffray... Integrated Device (IDTI) downgraded to Neutral from Buy at BofA/Merrill... Logitech (LOGI) downgraded to Underweight from Equal Weight at Morgan Stanley... Merus Labs (MSLI) downgraded to Sector Perform from Outperform at Scotiabank... New Gold (NGD) downgraded to Sell from Buy at Desjardins... Nokia (NOK) downgraded to Underperform from Buy at CLSA... Plantronics (PLT) downgraded to Underperform from Outperform at Raymond James... Pool Corp. (POOL) downgraded to Equal Weight from Overweight at Stephens... Praxair (PX) downgraded to Sector Weight from Overweight at KeyBanc... Rofin-Sinar (RSTI) downgraded to Neutral from Buy at Longbow... Southwestern Energy (SWN) downgraded to Neutral from Overweight at JPMorgan... Stifel cuts Twitter (TWTR) to Sell after noting Yahoo has significantly more users... Superior Energy (SPN) downgraded to In-Line from Outperform at Imperial Capital... Sysco (SYY) downgraded to Underweight from Equal Weight at Morgan Stanley... Telenor (TELNY) downgraded to Underperform from Neutral at Credit Suisse... Twitter (TWTR) downgraded to Sell from Hold at Stifel... Valeo (VLEEY) downgraded to Underweight from Equal Weight at Morgan Stanley.
08:36 EDTBIIBPiper Jaffray biopharma analyst holds an analyst/industry conference call
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07:33 EDTUALExecutives' Club of Chicago to hold a forum
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06:43 EDTBHPBHP may lose 'solid A' status amid commodities rout, Bloomberg says
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05:59 EDTLOGILogitech downgraded to Underweight from Equal Weight at Morgan Stanley
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05:29 EDTLOGILogitech downgraded to Underweight from Equal Weight at Morgan Stanley
February 1, 2016
19:09 EDTAFLOn The Fly: After Hours Movers
UP AFTER EARNINGS: Alphabet (GOOG, GOOGL), up 5.2% and 4.7%, respectively... Mattel (MAT), up 5.6%... Anadarko Petroleum (APC), up 4%... AFLAC (AFL), up 1.5%. ALSO HIGHER: PVH Corp. (PVH), up 8.1% after giving guidance for fiscal 2015 and entering a license agreement with G-III Apparel (GIII) for Tommy Hilfiger womenswear collections. DOWN AFTER EARNINGS: Integrated Device (IDTI), down 15.8%... Rent-A-Center (RCII), down 9.6%. ALSO LOWER: Pixelworks (PXLW), down 5.7% after giving fourth quarter guidance and announcing the resignation of its CEO... PDL BioPharma (PDLI), down 14.3% after cutting its quarterly dividend to 5c per share from 15c per share.
17:48 EDTLOGILogitech in 'many' discussions for VR peripherals, AFR says
In an Australian Financial Review interview published Monday, Logitech CEO Bracken Darrell said, "Optimizing the experience of the peripherals that go with VR will be an interesting place for us. We're in the middle of many discussions in that space... and at some point you can bet we'll jump in. But we're years away from viewing that as a serious category. We'd rather come in late and better than come in early and awkwardly." In the meantime, AFR said, Logitech will continue its "smart home" efforts. Reference Link
17:02 EDTPDCOPatterson Companies appoints Kelly Baker as Chief Human Resource Officer
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16:35 EDTAFLAflac reports Q4 Japan adjusted net premium income up 1.6%
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16:33 EDTAFLAflac sees FY16 operating EPS $6.17-$6.41, consensus $6.32
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16:27 EDTAFLAflac reports Q4 adjusted EPS $1.56, consensus $1.47
Reports Q4 revenue $5.32B, consensus $5.21B.
16:25 EDTPFGPrincipal Financial reports AUM $527.4B at Q4-end
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16:24 EDTPFGPrincipal Financial reports Q4 operating EPS $1.02, consensus $1.05
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14:32 EDTAFLNotable companies reporting after market close
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10:11 EDTAFLAflac technical comments before earnings news
The key level on the downside for the shares is at the $55 area. This has held quite consistently as support since late 2013. A breakdown below $55 on bearish news would resolve the range bearishly. Next supports below would be at $53.20 and then at the 52-week low at $51.41. If the news is a positive surprise, resistance levels to watch as potential upside objectives would be at $58.54, $60.18, and $61.49.
10:00 EDTVRTXOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Air Products (APD) upgraded to Buy from Neutral at UBS... American Airlines (AAL) upgraded to Outperform from Market Perform at Cowen... Axiall (AXLL) upgraded to Overweight from Neutral at JPMorgan... BASF (BASFY) upgraded to Buy from Hold at Societe Generale... CNH Industrial (CNHI) upgraded to Neutral from Underperform at BofA/Merrill... CU Bancorp (CUNB) upgraded to Outperform from Market Perform at Fig Partners... CaixaBank (CAIXY) upgraded to Hold from Sell at Societe Generale... Chipotle (CMG) upgraded to Neutral from Underperform at BofA/Merrill... Concho Resources (CXO) upgraded to Buy from Neutral at SunTrust... Continental Building (CBPX) upgraded to Buy from Hold at BB&T... Eastman Chemical (EMN) upgraded to Buy from Outperform at CLSA... Extreme Networks (EXTR) upgraded to Buy from Hold at Needham... Glacier Bancorp (GBCI) upgraded to Outperform from Market Perform at Fig Partners... IBERIABANK (IBKC) upgraded to Strong Buy from Outperform at Raymond James... Infineon (IFNNY) upgraded to Buy from Neutral at UBS... Jarden (JAH) upgraded to Outperform from Market Perform at Raymond James... Joy Global (JOY) upgraded to Overweight from Equal Weight at Barclays... KT Corporation (KT) upgraded to Overweight from Neutral at JPMorgan... Kennametal (KMT) upgraded to Neutral from Underperform at BofA/Merrill... L-3 Communications (LLL) upgraded to Buy on valuation at BofA/Merrill... Maximus (MMS) upgraded to Outperform from Market Perform at Raymond James... Micron (MU) upgraded to Neutral from Sell at Goldman... Monster Beverage (MNST) upgraded to Outperform from Market Perform at Wells Fargo... Newell Rubbermaid (NWL) upgraded to Outperform from Market Perform at Raymond James... Northrop Grumman (NOC) upgraded to Buy from Neutral at BofA/Merrill... PTC (PTC) upgraded to Buy from Neutral at Sterne Agee CRT... Peoples Bancorp (PEBO) upgraded to Outperform from Neutral at Boenning & Scattergood... Praxair (PX) upgraded to Buy from Neutral at UBS... Proofpoint (PFPT) upgraded to Outperform from In-Line at Imperial Capital... Seagate (STX) upgraded to Hold from Sell at Benchmark... Siemens (SIEGY) upgraded to Buy from Neutral at Nomura... Superior Drilling (SDPI) upgraded to Buy from Hold at Wunderlich... Vertex (VRTX) upgraded to Buy from Hold at Jefferies... Werner (WERN) upgraded to Strong Buy from Outperform at Raymond James... ZAIS Financial (ZFC) upgraded to Overweight from Equal Weight at Barclays.
06:09 EDTVRTXVertex upgraded to Buy from Hold at Jefferies
Jefferies analyst Brian Abrahams upgraded Vertex Pharmaceuticals to Buy saying current share levels provide a good long-term entry point. In the low $90s, the stock reflects an "excessively cautious" case on future label expansions for Orkambi, Abrahams tells investors in a research note. He continues to believe in Vertex's long-term cystic fibrosis sales opportunity. The analyst cut his price target for the shares to $120 from $142. The biotechnology company closed Friday down $2.01 to $90.75.
January 31, 2016
18:30 EDTUALUnited holding special training sessions for all 12,000 pilots, Bloomberg says
United Continental is conducting day-long training sessions for its 12,000 pilots to boost safety ahead of a generational crew turnover, Bloomberg reported Saturday, citing spokesperson statements. Though United previously sent a letter to its pilots reprimanding them for several "near misses," the United spokesperson denied any connection between the new training and previous safety events. Reference Link
11:39 EDTBIIBS&P falls 5% in January despite second straight winning week to close month
Stocks finished the month of January with two straight winning weeks, but investors are still glad to see the calendar flip as those winners only cut the S&P's loss to 5% for the month. With growth worries abounding amid troubling signs from China and as oil languishes below $35 per barrel, the manufacturing readings from China, Europe, and the U.S. due out on Monday will be essential to whether the new month continues the uptrend of the end of January or the dour tone that dominated the early half of the month. MACRO NEWS: The Federal Reserve kept interest rates unchanged following its policy meeting this week, as almost universally expected. In its accompanying statement, the central bank said its committee members expect that economic conditions will "evolve in a manner that will warrant only gradual increases in the federal funds rate." The group added that inflation is expected to "remain low in the near term, in part because of the further declines in energy prices, but to rise to 2% over the medium term as the transitory effects of declines in energy and import prices dissipate and the labor market strengthens further"... In other domestic economic news, the Commerce Department's first read on fourth quarter gross domestic product came in at 0.7% annualized growth, below the already anemic 0.8% growth forecast. 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. New home sales surged 10.8% to a 544,000 annualized pace in December, topping expectations and hitting their highest level in 10 months. Initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The University of Michigan consumer sentiment index slipped to 92.0 in the final January print, missing the 93.0 reading that was forecast... In a surprising move in Asia, the Bank of Japan introduced a rate of minus 0.1% on certain excess holdings of cash while maintaining the pace of its asset purchases. Japan also reported data pointing to a softening economy, as total CPI grew 0.2% year-over-year in December, core CPI rose at only a 0.1% pace and industrial production fell a preliminary 1.4% month-over-month in December. COMPANY NEWS: McDonald's (MCD) advanced Monday after the fast food giant reported better than expected earnings and comparable sales growth for the fourth quarter, powered by the launch of All Day Breakfast in the U.S.... Earnings season accelerated Tuesday as four members of the bluechip Dow Jones Industrial Average posted results before the opening bell. 3M (MMM) was the top advanced on the index with a gain of over 5%, while Johnson & Johnson (JNJ), Procter & Gamble (PG) and DuPont (DD) all notched gains that day following their reports as well... Apple (AAPL) declined more than 6.5% on Wednesday after the tech giant reported first quarter earnings that topped consensus estimates, but also issued revenue guidance for the new quarter that missed expectations. The company was noted by several analysts as taking a particularly downbeat tone in its earnings conference call, invoking the difficult macroeconomic environment and weakness it has recently seen in China. Apple was not the worst performer in the Dow that day, as Boeing (BA) shares plummeted nearly 9% after its profit outlook for the new fiscal year fell far short of the Street's consensus forecast... Facebook (FB) surged 15.5% on Thursday after the social media giant's fourth quarter earnings and revenue beat expectations. A number of Wall Street analysts increased their price targets for the stock following the report, including Piper Jaffray's Gene Munster, who hiked his target to a "Street-high" $170 per share. The same day, Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded almost 5% after the company jumped over the lowered bar that had been set by bearish analysts... On Friday, shares of Amazon (AMZN) declined more than 7.5% after the company's fourth quarter results came in below expectations. Meanwhile, Microsoft (MSFT), which reported better than expected earnings, gained almost 6%. Chevron (CVX) reported a quarterly loss due to taking impairments and other charges of $1.1B. The company, which also reported that its average sales price per barrel of crude oil and natural gas liquids in the U.S. was $35 in fourth quarter, down from $66 a year ago, edged up 0.7% to $86.44... Among the many others reporting earnings this week, Visa (V), Mastercard (MA), Under Armour (UA), Sprint (S) and Biogen (BIIB) gained immediately following their reports, while Qualcomm (QCOM), eBay (EBAY), U.S. Steel (X), VMware (VMW) and Anthem (ANTM) all slid following their own... Xerox (XRX) announced plans to separate into two independent publicly-traded companies: one focused on Document Technology and another Business Process Outsourcing company. Xerox also announced an agreement related to the governance of the Business Process Outsourcing company under which six directors of the new company will be selected by Xerox and three will be selected by current Xerox shareholder Carl Icahn... Terex (TEX) surged more than 36% higher on Tuesday after receiving a $30 per share acquisition offer from China's Zoomlion. Terex peers Manitowoc (MTW), Joy Global (JOY) and Oshkosh (OSK) also gained after the offer was disclosed... Weight Watchers (WTW) shares soared nearly 20% Tuesday after noted shareholder and partner Oprah Winfrey tweeted a video detailing her progress using the company's program, indicating that she'd already lost 26 pounds thanks to its plan... 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... SunEdison (SUNE) gained 18% during the week after agreeing to new corporate governance initiatives with David Einhorn's Greenlight Capital, including amending its bylaws to restrict equity issuances for two years without a supermajority board vote... Twitter (TWTR) slumped nearly 6% this week after CEO Jack Dorsey confirmed the departure of four company executives, leading research firm Stifel to downgrade the shares. INDEXES: The Dow gained about 2.2% to close at 16,466.30; the S&P 500 rose about 1.6% to close at 1,940.24; the Nasdaq advanced about 0.4% to close at 4,613.95.
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