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Stock Market & Financial Investment News

News Breaks
January 29, 2014
10:00 EDTARO, CVGI, VMW, PDCE, CIT, SWFT, WMT, DATA, SBH, IBKR, ITW, IBKC, FSL, EA, CRZO, CAM, AAL, MODOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Aeropostale (ARO) upgraded to Neutral from Sell at Goldman... American Airlines (AAL) upgraded to Neutral from Underperform at BofA/Merrill... Cameron (CAM) upgraded to Buy from Hold at Societe Generale... Carrizo Oil & Gas (CRZO) upgraded to Neutral from Underperform at Credit Suisse... Electronic Arts (EA) upgraded to Buy from Neutral at BofA/Merrill... Freescale (FSL) upgraded to Strong Buy from Buy at Needham... IBERIABANK (IBKC) upgraded to Outperform from Market Perform at Raymond James... Illinois Tool Works (ITW) upgraded to Outperform from Market Perform at BMO Capital... Interactive Brokers (IBKR) upgraded to Outperform from Market Perform at Keefe Bruyette... Sally Beauty (SBH) upgraded to Outperform from Market Perform at Wells Fargo... Tableau Software (DATA) upgraded to Buy from Neutral at Goldman... Wal-Mart (WMT) upgraded to Outperform from Neutral at Credit Suisse... Swift Transport (SWFT) upgraded to Buy from Neutral at Longbow... CIT Group (CIT) upgraded to Buy from Neutral at Buckingham... PDC Energy (PDCE) upgraded to Buy from Hold at Topeka... VMware (VMW) upgraded to Strong Buy from Outperform at Raymond James... Commercial Vehicle Group (CVGI) upgraded to Neutral from Underperform at RW Baird... Modine Manufacturing (MOD) upgraded to Outperform from Neutral at RW Baird.
News For ARO;AAL;CAM;CRZO;EA;FSL;IBKC;ITW;IBKR;SBH;DATA;WMT;SWFT;CIT;PDCE;VMW;CVGI;MOD From The Last 14 Days
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August 19, 2014
08:11 EDTVMWVMware promotes Betsy Sutter to SVP, Chief People Officer
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08:09 EDTVMWVMware updates executive responsibilities
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06:56 EDTAROAeropostale CEO change may not help much, says Wells Fargo
After Aeropostale announced that its longtime former CEO, Julian Geiger, would return to the role, Wells Fargo thinks that Geiger may not be able to solve the company's positioning problems. According to the firm, the company was known for providing basics, but consumers are not willing to pay for basics anymore. The firm keeps a Market Perform rating on the shares.
August 18, 2014
18:21 EDTAROOn The Fly: After Hours Movers
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18:13 EDTWMTWal-Mart not likely to bid for Family Dollar, Bloomberg reports
According to people familiar with the situation, Wal-Mart Stores (WMT) is unlikely to make an offer for Family Dollar Stores (FDO), Bloomberg reports. Reference Link
17:04 EDTAROAeropostale up 7% after CEO change, Q2 guidance
16:36 EDTAROAeropostale sees Q2 adjusted EPS (45c)-(42c), consensus (58c)
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16:32 EDTAROAeropostale announces Julian Geiger to rejoin company as CEO
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12:19 EDTCAMIngersoll-Rand rises after agreeing to buy Cameron unit for $850M
Shares of Ingersoll-Rand (IR), which makes heating and air conditioning systems, are up after it announced an agreement to acquire the assets of Cameron International Corporation's (CAM) Centrifugal Compression division for $850M. WHAT'S NEW: Ingersoll-Rand this morning entered into an agreement to acquire Cameron's Centrifugal Compression division for $850M. The acquisition is expected to close before the end of the year, subject to regulatory approval. The Cameron unit generated sales of approximately $400M in 2013, has approximately 850 employees and operates from 12 global locations. The results of operations of the Centrifugal Compression business will be reported as discontinued operations for Cameron beginning in the third quarter. Ingersoll Rand plans to fund the acquisition through a combination of cash on hand and debt. WHAT'S NOTABLE: Ingersoll-Rand said it expects the acquisition to be accretive to EBITDA margins, EPS, and ROIC in 2015 and beyond. The company expects the acquisition to add 8c-10c per share to its earnings in 2015. The company anticipates moderate incremental debt, supported by additional earnings from Cameron and core earnings growth. Ingersoll adds that it foresees refinancing of $500M of 2015 debt, and continues to expect a 2014 share repurchase of $1.38B. Cameron said it is selling the unit to focus on its core markets. The company expects after-tax proceeds of about $600M from the sale, part of which it planned to use to support share buybacks. ANALYST REACTION: Following the announcement, Wells Fargo analysts estimated that the acquisition will be approximately 10c-15c accretive excluding impact from synergies and approximately 20c-25c with anticipated synergies. PRICE ACTION: Ingersoll-Rand jumped $1.49, or 2.46%, to $62.03 in intra-day trading, while Cameron is trading down 0.6% to $72.21.
10:29 EDTFSLGoldman cuts sector view on semiconductors to Cautious
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08:47 EDTWMTDollar General says would slow store opening growth in Family Dollar deal
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08:04 EDTFSLSemiconductors sector downgraded to Cautious from Neutral at Goldman
Goldman downgraded the Semiconductors sector to Cautious given signs the cycle is turning based on expectations for a slowdown in semiconductor revenue growth, above trend semi unit shipments that should normalize, and stretching lead times. As a result, the analyst sees risk to Q4 estimates and sees further downside of 10%-25% for the SOX (SOX) and downgraded NXP Semiconductors (NXPI) to Sell from Neutral, InvenSense (INVN) to Neutral from Buy, and removed Maxim Integrated (MXIM) from the Conviction Buy List.
06:33 EDTCAMIngersoll-Rand to host conference call
Conference call to discuss agreement to acquire Cameron International Corporationís centrifugal compression division will be held on August 18 at 9:30 am. Webcast Link
06:32 EDTCAMCameron sells Centrifugal Compression business to Ingersoll-Rand for $850M
Cameron (CAM) has announced that it has entered into a definitive agreement to sell its Centrifugal Compression business to Ingersoll Rand (IR) for cash consideration of approximately $850M, subject to closing adjustments. The decision to divest the Centrifugal Compression division was made after a careful review of Cameron's long-term business strategy to increase its focus on its core markets. The company's goal has been to identify a buyer that is more closely aligned with Centrifugal Compression's broad and global markets. Cameron expects to complete the sale of its Centrifugal Compression business prior to year end, subject to regulatory approval. The company estimates after tax proceeds from the sale to be approximately $600 million, and expects the net proceeds to support stock repurchases. In 2013, the Centrifugal Compression division had revenues of $396M. The results of operations of the Centrifugal Compression business will be reported as discontinued operations beginning in Q3.
06:31 EDTCAMCameron sells Centrifugal Compression business to Ingersoll-Rand for $850M
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06:27 EDTCAMIngersoll Rand to acquire Cameron's centrifugal compressional division for $850M
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06:09 EDTAROAeropostale volatility elevated into Q2 and new leadership outlook
Aeropostale September call option implied volatility is at 93, October is at 75, January is at 85; compared to its 26-week average of 58 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on August 21.
August 15, 2014
17:02 EDTWMTStocks end week slightly higher despite flare-up in Russian tensions
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14:36 EDTDATAMatrix Capital reports 5.76% passive stake in Tableau
06:01 EDTEAJuly NPD video game software sales fell 15%, says Piper Jaffray
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