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Stock Market & Financial Investment News

News Breaks
January 22, 2013
10:00 EDTKMI, JCI, URBN, OTEX, FTNT, DO, COH, LIFE, BP, TRIB, OZM, FE, BDX, SFLY, MS, UPI, RHHBY, LRE, FFIV, ARMHOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ARM Holdings (ARMH) downgraded to Hold from Buy at Benchmark Co.... Amgen (AMGN) downgraded to Neutral from Outperform at Credit Suisse... Becton Dickinson (BDX) downgraded to Neutral from Buy at Mizuho... Diamond Offshore (DO) downgraded to Neutral from Outperform at Credit Suisse... F5 Networks (FFIV) downgraded to Hold from Buy at Needham... FirstEnergy (FE) downgraded to Underperform from Hold at Jefferies... Fortinet (FTNT) downgraded to Market Perform from Outperform at JMP Securities... LRR Energy (LRE) downgraded to Neutral from Outperform at RW Baird... Och-Ziff Capital (OZM) downgraded to Market Perform from Outperform at Keefe Bruyette... Open Text (OTEX) downgraded to Hold from Buy at Stifel Nicolaus... Roche (RHHBY) downgraded to Neutral from Outperform at Exane BNP Paribas... Trinity Biotech (TRIB) downgraded to Neutral from Buy at Roth Capital... Urban Outfitters (URBN) downgraded to Neutral from Overweight at Atlantic Equities... Uroplasty (UPI) downgraded to Market Perform from Outperform at JMP Securities... BP (BP) downgraded to Sector Perform from Outperform at RBC Capital... Johnson Controls (JCI) downgraded to Neutral from Buy at Lazard Capital... Morgan Stanley (MS)downgraded to Neutral from Positive at Susquehanna... Life Technologies (LIFE) downgraded to Market Perform from Outperform at William Blair... Kinder Morgan (KMI) downgraded to Hold from Accumulate at Tudor Pickering... Shutterfly (SFLY) downgraded to Neutral from Buy at Monness Crespi... Coach (COH) downgraded to Outperform from Buy at CLSA.
News For ARMH;BDX;DO;FFIV;FE;FTNT;LRE;OZM;OTEX;RHHBY;TRIB;URBN;UPI;BP;JCI;MS;LIFE;KMI;SFLY;COH From The Last 14 Days
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June 22, 2015
05:45 EDTFTNTFireEye downgraded to Neutral from Buy at UBS
UBS analyst Brent Thill downgraded FireEye (FEYE) to Neutral citing the stock's 70% rally year-to-date. Hill, however, raised his price target for name to $55 from $50. Shares of the cybersecurity provider closed Friday down 58c to $53.65. Hill also downgraded Symantec (SYMC) this morning to Sell. In the cybersecurity space, he keeps Buy ratings on Palo Alto Networks (PANW) and Fortinet (FTNT).
June 19, 2015
10:00 EDTBPOn The Fly: Analyst Downgrade Summary
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08:31 EDTFTNTFortinet adds Oracle Chief Marketing Officer Judith Sim to board
Fortinet (FTNT) announced that Judith Sim, Chief Marketing Officer at Oracle (ORCL), is joining Fortinet's board, effective June 22.
06:29 EDTMSMorgan Stanley invests in Alibaba-backed online insurer, WSJ reports
A group of investors including Morgan Stanley (MS) has invested $934M in China’s first online-only insurer backed by Alibaba (BABA) called Zhong An Online P&C Insurance Company, valuing the venture at $8B, the Wall Street Journal reports. The investment has been approved by China’s insurance regulator, the report says. Reference Link
06:17 EDTBPRoyal Dutch Shell upgraded to Outperform from Sector Perform at RBC Capital
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06:15 EDTBPBP downgraded to Sector Perform from Outperform at RBC Capital
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06:13 EDTBPBP, Rosneft announce exploration and refining agreements
Rosneft and BP announced the signing of "several agreements strengthening the long term strategic relationship between the two companies." Rosneft and BP signed final binding agreements for Rosneft’s sale to BP of a 20% share of Taas-Yuryakh Neftegazodobycha, creating a new joint venture in East Siberia. Rosneft and BP have also agreed jointly to explore two additional Areas of Mutual Interest in the West Siberian and Yenisey-Khatanga basins covering a combined area of about 260,000 square kilometers. Any joint ventures will be owned 51% by Rosneft and 49% by BP. As part of this agreement Rosneft and BP will also form a joint venture to carry out further appraisal work on the 2009 Rosneft-discovered Baikalovskiy field inside the Yenisey-Khatanga AMI. Exploration activities in the two AMIs will include screening studies, acquisition of seismic data, and drilling of exploration wells as new licences are added. As a result of the planned deal Rosneft will double its shareholding in the Bayernoil refinery - to 25% from 12.5%; the MiRO refinery - to 24% from 12%; and the PCK Raffinerie - to 37.5% from 18.75%. BP in exchange will consolidate 100% of the equity of the Gelsenkirchen refinery and the solvent production facility DHC Solvent Chemie. The closing of the deal is subject to the fulfillment of conditions precedent, which include inter alia regulatory approvals.
June 18, 2015
07:37 EDTMSNoranda Aluminum to evaluate strategic alternatives, suspends dividend
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June 17, 2015
20:02 EDTKMIKinder Morgan CEO Kean, chairman Kinder purchased 212K shares, Barron's says
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17:37 EDTMSGM hires advisers as Fiat Chrysler tries to force merger talks, Reuters says
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11:47 EDTFTNTCyberArk rises after Merrill hikes target noting strong security trends
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07:14 EDTRHHBYProthena announces PRX002 was safe, well tolerated
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07:06 EDTMSNoble CEO fires back at critics of company’s accounting practices, WSJ says
Noble Group (NOBGY) CEO Yusuf Alireza disputed allegations about the company’s accounting practices, particularly that it is hiding the true nature of its debt and improperly valuing its 13% stake in Australian coal miner Yancoal, the Wall Street Journal reports. In a letter to former longtime Morgan Stanley (MS) banker Michael Dee, Alireza said that the company’s evaluation of Yancoal is “reasonable and consistent with market practice and accounting policies” and that “any suggestion otherwise is ill-informed and factually incorrect,” the report says. “As an associate company, we must rely on a cash flow model to value our stake, which is consistent with market practice in the mining industry,” the Noble CEO added, the report says. Reference Link
06:48 EDTMSMore big banks waiving overdraft fees, WSJ reports
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June 16, 2015
17:14 EDTSFLYMarathon Partners reduces stake in Shutterfly to 4.5%
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10:01 EDTKMIOn The Fly: Analyst Initiation Summary
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07:50 EDTFTNTFortinet checks positive, says Oppenheimer
After conducting checks recently, Oppenheimer says that Fortinet's business is tracking ahead of its guidance. The firm raised its price target on the name to $46 from $39 and keeps an Outperform rating on the shares.
07:13 EDTKMIKinder Morgan initiated with a Buy at SunTrust
Target $48.
07:11 EDTMSSurprise AIG ruling may make future bailouts unlikely, even if needed, NYT says
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06:18 EDTFTNT, FFIVUp to 390,000 linked to DHS might have had data breached, AP reports
As many as 390,000 current and former Department of Homeland Security, or DHS, employees, contractors, and job applicants may have had private data compromised in a computer hack discovered a year ago, the Associated Press reports. Homeland Security Department spokesman S.Y. Lee said that internal notices about the breach were sent to employees starting April 27, the report says. Lee added that the hack is separate from one involving the same government contractor that was disclosed by the government in December. Publicly traded companies in the space include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC). Reference Link
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