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Stock Market & Financial Investment News

News Breaks
November 5, 2012
10:01 EDTARO, STT, PRGO, MON, GCO, CBS, HGG, TGT, NRG, MSG, ENB, BRO, WPZ, QCOM, MNKD, HES, EPBOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Aeropostale (ARO) upgraded to Outperform from Market Perform at FBR Capital... Brown & Brown (BRO) upgraded to Buy from Neutral at Sterne Agee... CBS (CBS) upgraded to Overweight from Equal Weight at Barclays... Disney (DIS) upgraded to Buy from Hold at Argus... El Paso Pipeline (EPB) upgraded to Buy from Neutral at Goldman... Enbridge (ENB) upgraded to Buy from Neutral at Goldman... Genesco (GCO) upgraded to Buy from Hold at BB&T... Hess Corp. (HES) upgraded to Buy from Neutral at Global Hunter... Madison Square Garden (MSG) upgraded to Buy from Hold at Maxim... MannKind (MNKD) upgraded to Buy from Neutral at BofA/Merrill... Monsanto (MON) upgraded to Buy from Neutral at Monness Crespi... NRG Energy (NRG) upgraded to Buy from Neutral at Citigroup... Perrigo (PRGO) upgraded to Outperform from Market Perform at Barrington... Qualcomm (QCOM) upgraded to Buy from Neutral at Nomura... State Street (STT) upgraded to Overweight from Equal Weight at Evercore... Target (TGT) upgraded to Overweight from Neutral at JPMorgan... Williams Partners (WPZ) upgraded to Buy from Neutral at Goldman... hhgregg (HGG) upgraded to Above Average from Average at Caris.
News For ARO;BRO;CBS;EPB;ENB;GCO;HES;MSG;MON;MNKD;NRG;PRGO;QCOM;TGT;STT;WPZ;HGG From The Last 14 Days
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January 27, 2016
12:11 EDTHESOn The Fly: Top stock stories at midday
Stocks began the session in negative territory and proceed to lose additional ground after the open. Despite another disappointing weekly Department of Energy inventory report, which pointed to larger than expected builds of both oil and gas stockpiles, the price of crude moved higher in later morning trading, taking equities up with it. Fed watchers have zero expectation that the central bank will announce an interest rate hike later today, but are hoping for a dovish policy statement to be issued in conjunction with the end of the latest FOMC meeting. ECONOMIC EVENTS: In the U.S., new home sales surged 10.8% to a 544,000 annualized pace in December, topping expectations and hitting their highest level in 10 months. The FOMC rate decision is due out at 2 pm ET and 100% of 104 analysts surveyed by Bloomberg were aligned in predicting no change to benchmark U.S. interest rates will be announced today. While their is no chance seen that the central bank will raise rates, the language in the statement will be closely examined for any clues on the Fed's thinking about when the next rate may be coming. COMPANY NEWS: Shares of Apple (AAPL) declined about 5% after the tech giant reported first quarter earnings that topped consensus estimates last night, but also issued revenue guidance for the new quarter that missed expectation. The company was noted by several analysts as having 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, however, as that distinction goes to Boeing (BA). Shares of the commercial airplane maker and defense contractor plummeted 7% after its profit outlook for the new fiscal year fell far short of the Street's consensus forecast. Conversely, United Technologies (UTX), which is also in the Dow and also involved in aerospace and defense, gained 2% after backing its adjusted earnings outlook for fiscal 2016. MAJOR MOVERS: Among the notable gainers was SunEdison (SUNE), which rallied 12% after the company and David Einhorn's Greenlight Capital agreed to new corporate governance initiatives, including appointing Claire Gogel to its board and amending its bylaws to provide that it will not make equity issuances for two years without supermajority vote of the board. Also higher were Commvault (CVLT), Hess (HES) and Biogen (BIIB), which gained 13%, 10% and 8%, respectively, after reporting quarterly earnings. Among the noteworthy losers was DreamWorks Animations (DWA), which fell 4.5% after the stock was downgraded to Sell at Topeka. Also lower were U.S. Steel (X), VMware (VMW), and Textron (TXT), which were down 12%, 8.5%, and 8%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was up 37.60, or 0.23%, to 16,204.83, the Nasdaq was down 9.88, or 0.22%, to 4,557.79, and the S&P 500 was up 9.54, or 0.5%, to 1,913.17.
11:09 EDTHESOptions with increasing put volume
Options with increasing put volume: RDN MTG HES BKD TAP RRC GG MTW AIG CLR PYPL
10:00 EDTGCOOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Arista Networks (ANET) initiated with a Buy at Citi... Brocade (BRCD) initiated with a Neutral at Citi... CBL & Associates (CBL) initiated with an Underperform at Boenning & Scattergood... Caleres (CAL) initiated with a Hold at BB&T... Ciena (CIEN) initiated with a Neutral at Citi... Fitbit (FIT) initiated with a Buy, $35 target at Citi... Genesco (GCO) initiated with a Hold at BB&T... Infinera (INFN) initiated with a Buy at Citi... Nabriva Therapeutics (NBRV) initiated with a Buy at Gabelli... SanDisk (SNDK) initiated with a Buy at Citi... Seagate (STX) initiated with a Sell at Citi... Tanger Factory (SKT) initiated with an Underperform at Boenning & Scattergood... Taubman Centers (TCO) initiated with a Neutral at Boenning & Scattergood... WP Glimcher (WPG) initiated with an Underperform at Boenning & Scattergood... Western Digital (WDC) initiated with a Buy at Citi... Yirendai (YRD) initiated with a Buy at Needham.
10:00 EDTBROOn 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.
09:54 EDTSTTState Street says treasurer David Gutschenritter to retire
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09:51 EDTSTTState Street: YTD weakness in equity markets to adversely affect total revenue
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09:46 EDTMNKDMannKind to host business news update conference call
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09:07 EDTCBSCBS signs long-term licesing agreement for Showtime programming in Australia
CBS and Stan, a joint venture between Nine Entertainment Co. and Fairfax Media, signed a long-term, exclusive licensing agreement that will bring all future Showtime series and programming to the Australian streaming service. CBS has signed similar exclusive deals for Showitme with Sky in Europe and Bell Media in Canada.
08:03 EDTBROBrown & Brown downgraded to Underweight at Morgan Stanley
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07:35 EDTHESHess Corp. sees 2016 capital and exploratory expenditures down 40% to $2.4B
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07:34 EDTHESHess Corp. sees 2016 oil and gas production 330K-350K boepd
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07:33 EDTHESHess Corp. reports Q4 adjusted EPS ($1.40), consensus ($1.47)
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07:32 EDTHESHess Corp. reports Q4 adjusted EPS ($1.40), consensus ($1.47)
Oil and gas production was 368,000 barrels of oil equivalent per day in Q4, compared to 362,000 boepd in the fourth quarter of 2014. E&P capital and exploratory expenditures were $943M, down from $1.575B in the prior-year quarter reflecting reduced activities primarily in the United States, Norway and Equatorial Guinea.
07:30 EDTGCOGenesco initiated with a Hold at BB&T
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07:24 EDTSTTState Street sees pre-tax operating margin at least 31% by 2018, 33% by 2020-end
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07:19 EDTQCOMQualcomm volatility elevated into Q1 and outlook
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07:03 EDTSTTState Street: Dollar strengthening reduced fee rev. outside U.S. by $53M in Q4
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07:01 EDTSTTState Street reports Q4 operating-basis EPS $1.21, consensus $1.18
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06:59 EDTHESOptions expected to be active: AAPL FB AMZN BIIB GD HES TXT BA UTX X T
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06:24 EDTBROBrown & Brown downgraded to Underweight from Equal Weight at Morgan Stanley
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