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Stock Market & Financial Investment News

News Breaks
January 8, 2013
10:00 EDTNE, ATK, ROK, JBLU, ES, CF, AZO, DDR, NOC, NOV, FIO, EMR, BPI, SRC, RTN, MYL, FTI, EMC, BHI, ASBCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Associated Banc-Corp (ASBC) downgraded to Hold from Buy at Deutsche Bank... AutoZone (AZO) downgraded to Underweight from Equal Weight at Morgan Stanley... Baker Hughes (BHI) downgraded to Sector Perform from Outperform at RBC Capital... Bridgepoint Education (BPI) downgraded to Equal Weight from Overweight at Barclays... CF Industries (CF) downgraded to Market Perform from Outperform at BMO Capital... EMC (EMC) downgraded to Market Perform from Outperform at William Blair... Emerson (EMR) downgraded to Equal Weight from Overweight at Morgan Stanley... EnergySolutions (ES) downgraded to Market Perform from Outperform at FBR Capital... FMC Technologies (FTI) downgraded to Sector Perform from Outperform at RBC Capital... Fusion-io (FIO) downgraded to Market Perform from Outperform at William Blair... JetBlue (JBLU) downgraded to Hold from Buy at Deutsche Bank... Mylan (MYL) downgraded to Equal Weight from Overweight at Morgan Stanley... National Oilwell (NOV) downgraded to Sector Perform from Outperform at RBC Capital... Rockwell (ROK) downgraded to Underweight from Equal Weight at Morgan Stanley... Raytheon (RTN) downgraded to Neutral from Overweight at JPMorgan... Northrop Grumman (NOC) downgraded to Underweight from Neutral at JPMorgan... Alliant Techsystems (ATK) downgraded to Neutral from Outperform at Cowen... Spirit Realty (SRC) downgraded to Market Perform from Outperform at Raymond James... DDR Corp. (DDR) downgraded to Hold from Buy at Jefferies... Noble Corp. (NE) downgraded to Market Perform from Outperform at Raymond James.
News For ASBC;AZO;BHI;BPI;CF;EMC;EMR;ES;FTI;FIO;JBLU;MYL;NOV;ROK;RTN;NOC;ATK;SRC;DDR;NE From The Last 14 Days
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July 20, 2015
08:38 EDTMYLAnalyst predicts Zoetis merges with Bayer unit, not Valeant
Zoetis (ZTS) in recent months has been the subject of takeover speculation, possibly for Valeant (VRX), but a Jefferies analyst told investors today in a research note that he views a deal with a unit of healthcare giant Bayer (BAYRY) as "highly likely" for the animal medicine company. BACKGROUND: Bill Ackman of Pershing Square, who owns stakes in both Zoetis and Valeant, said in early May while speaking on CNBC that Zoetis is a "great” business on a standalone basis, but he also spoke of the company's strategic value. Ackman added, however, that he was "not sure" that Valeant was the best acquirer of Zoetis. Subsequently, in late June, The Wall Street Journal reported that Valeant made a preliminary approach regarding a potential deal to buy Zoetis. CNBC's David Faber said the next day, citing his own sources, that Valeant reached out to Zoetis as a courtesy to common shareholder Ackman and was unlikely to pursue an acquisition of the company, though he cautioned then Valeant could change its approach and pursue a deal. BAYER: Jefferies analyst Jeffrey Holford said in a note today that he views a tie-up between Zoetis and Bayer's Animal Health business in 2016 as "highly likely." He sees Mylan's (MYL) acquisition of Abbott's (ABT) non‑U.S. developed markets specialty and branded generics business as a potential proxy for how a transaction could be structured, adding that such a "spinversion" could achieve up to 36% long-term earnings accretion for Zoetis. Holford reiterated a Buy rating on Zoetis with a $60 price target, while downgrading Bayer to Hold, citing valuation following the recent outperformance of its shares. IDEXX: While being discussed as a target, some analysts have also opined on companies that Zoetis could pursue as a buyer. On June 29, Canaccord said that in investor meetings with IDEXX (IDXX) executives declined to comment on Zoetis' potential interest in scaling up its animal health diagnostics business. Canaccord added that it thought Zoetis could make a bid for IDEXX. The firm reiterated its Buy rating and $80 price target on IDEXX shares at that time. PRICE ACTION: Since June 25, the day the Journal first reported on Valeant's preliminary takeover approach to Zoetis, the animal health company's shares have dropped nearly 4%. Zoetis closed down 20c to $47.80 on Friday.
07:33 EDTMYLInternational AIDS Society to hold a conference
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07:30 EDTMYLZoetis 'highly likely' to merge with Bayer unit in 2016, says Jefferies
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07:04 EDTBHIHalliburton incurred $67M after-tax for costs related to Baker Hughes deal in Q2
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07:03 EDTBHIHalliburton says 'pleased' with progress of Baker Hughes acquisiton
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06:58 EDTCFCF Industries will likely have to pay up for OCI, says Piper Jaffray
Piper Jaffray has a favorable initial view of CF Industries' potential acquisition of OCI, but feels the company will have to pay up for the assets. Piper only expects modest savings from a potential inversion given the heavily U.S. based business for CF. It still believes the deal would be accretive, however. It keeps an Overweight rating on CF with a $71 price target. Piper points out that there is a "lot of uncertainty" if a deal will happen.
05:23 EDTCFCF Industries confirms talks with OCI N.V.
CF Industries confirmed that it is in preliminary discussions with OCI N.V. regarding a potential combination involving certain of OCI's businesses. There can be no assurances that these discussions will result in any transaction. CF Industries does not intend to comment further at this stage and any further statements will be made if and when appropriate.
July 17, 2015
17:26 EDTRTN, NOCBAE Systems, others awarded $6B government contract
American Systems, Chantilly, Virginia; BAE Systems (BAESY), McLean, Virginia; Blue Canopy, Reston, Virginia; The Boeing Co. (BA), Annapolis Junction, Maryland; Booz Allen Hamilton, McLean, Virginia; CACI (CACI), Chantilly, Virginia; CGI Federal, Fairfax, Virginia; Computer Sciences Corp. (CSC), Falls Church, Virginia; D&S Consultants Inc., Eatontown, New Jersey; EIS, Vienna, Virginia; General Dynamics Information Technology (GD), Herndon, Virginia; HP Enterprise Services, Herndon, Virginia; IBM (IBM), Reston, Virginia; Intelligent Decisions, Ashburn, Virginia; K Force Government Solutions, Fairfax, Virginia; L3 National Security Solutions, Reston, Virginia; Leidos (LDOS), Reston, Virginia; Lockheed Martin Corp. (LMT) Gaithersburg, Maryland; ManTech/WINS, Fairfax, Virginia; Northrop Grumman (NOC), Chantilly, Virginia; Pragmatics, Reston, Virginia; Raytheon IIS Group (RTN), Dulles, Virginia; Scientific Research Corp., Atlanta, Georgia; Sotera, Herndon, Virginia; SRA International, Fairfax, Virginia; 22nd Century Technologies, McLean, Virginia; AEEC LLC, Reston, Virginia; American Technology Solutions International, Fredericksburg, Virginia; Berico Technologies, Reston, Virginia; The Buffalo Group, Reston, Virginia; Convergent Solutions Inc., Alexandria, Virginia; Criterion Systems Inc., Vienna, Virginia; Cyberspace Solutions, Reston, Virginia; DAn Solutions Inc., McLean, Virginia; DKW Communications, Washington, District of Columbia; E-Volve Technology Systems, National Harbor, Maryland; Federated IT, Washington, District of Columbia; Intrepid Solutions & Services Inc., Reston, Virginia; The Kenjya Group, Columbia, Maryland; New River Systems, Sterling, Virginia; OCCAM Solutions, McLean, Virginia; QVine Corp., Reston, Virginia; Red Arch Solutions, Columbia, Maryland; Riite, Chantilly, Virginia; Soft Tech Consulting, Chantilly, Virginia; Trusted Mission Solutions, McLean, Virginia; Varen Technologies, Columbia, Maryland; Vykin Corp., Tampa, Florida; Xcelerate Solutions, McLean, Virginia; and Zolon Tech Inc., Herndon, Virginia, were awarded an indefinite-delivery/indefinite-quantity, multiple-award contract with a combined ceiling value of $6B. The Enhanced Solutions for the Information Technology Enterprise contract supports information technology requirements across the Defense intelligence enterprise and the greater intelligence community. Work will be performed worldwide with an estimated completion date of July 16, 2020. The E-SITE contract vehicle was solicited on the basis of full and open competition, and 77 proposals were received. After conducting a thorough evaluation based on the request for proposal criteria, contracts are being awarded to 25 large businesses and 25 small businesses. Each company will be awarded a $500 minimum guarantee and additional funding will be obligated on individual task orders with the initial follow-on task order competitions scheduled this summer. The Virginia Contracting Activity, Washington, District of Columbia, is the contracting activity.
16:24 EDTCFOn The Fly: Top stock stories for Friday
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16:16 EDTBPIWSCUC says Bridgepoint Education unit Ashford makes progress
On July 15 , Ashford University, a wholly owned subsidiary of Bridgepoint Education received an Action Letter from WASC Senior College and University Commission outlining the findings of the WSCUC Special Visit team arising out of its special visit to Ashford University conducted April 8-10. Upon granting initial accreditation to Ashford University in 2013, WSCUC scheduled the special visit to address six issues requiring continued attention. The Action Letter states that the Special Visit team found substantial evidence that Ashford University continues to make sustained progress in all six areas recommended by WSCUC in 2013.
13:26 EDTCFCF Industries spikes on merger talks report
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13:22 EDTCFCF Industries, OCI in advanced merger talks, WSJ reports
CF Industries and Dutch fertilizer industry peer OCI are in advanced talks about a merger and a deal could be reached as early as this month, said The Wall Street Journal, citing people familiar with the matter. A deal, if agreed upon, could structured as an "inversion" where the U.S. company moves its tax headquarters abroad, the report noted. CF shares are up 6% to $66.59 in afternoon trading after the report. Reference Link
13:18 EDTCFCF Industries calls active on merger talks report
CF Industries July weekly call option implied volatility is at 73, August is at 30, November is at 26; compared to its 52-week range of 17 to 55, suggesting large price movement on WSJ report of talks about merger with OCI.
13:08 EDTCFCF Industries spikes, halted for circuit breaker following merger talks report
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13:06 EDTCFCF Industries in talks about merger with OCI, WSJ reports
13:03 EDTBHIBaker Hughes reports U.S. rig count down 6 to 857 rigs
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10:05 EDTNOVOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Accretive Health (ACHI) downgraded to Market Perform from Outperform at Cowen... Allergan (AGN) downgraded to Outperform from Top Pick at RBC Capital... Best Buy (BBY) downgraded to Underperform from Buy at BofA/Merrill... Cablevision (CVC) downgraded to Hold from Buy at Jefferies... Credit Suisse (CS) downgraded to Hold from Buy at Deutsche Bank... Domino's Pizza (DPZ) downgraded to Sector Weight from Overweight at KeyBanc... First Quantum Minerals (FQVLF) downgraded to Neutral from Outperform at Credit Suisse... First Republic (FRC) downgraded to Market Perform from Outperform at FBR Capital... Fresenius SE (FSNUY) downgraded to Neutral from Buy at Goldman... Golden Minerals (AUMN) downgraded to Neutral from Buy at Roth Capital... JD Wetherspoon (JDWPY) downgraded to Reduce from Neutral at Nomura... NV5 Holdings (NVEE) downgraded to Neutral from Accumulate at Global Hunter... National Oilwell (NOV) downgraded to Sell from Neutral at UBS... Natural Gas Services (NGS) downgraded to Neutral from Buy at Global Hunter... Primoris (PRIM) downgraded to Neutral from Accumulate at Global Hunter... Receptos (RCPT) downgraded to Hold from Buy at Evercore ISI... SKF AB (SKFRY) downgraded to Hold from Buy at Deutsche Bank... STAG Industrial (STAG) downgraded to Sell from Neutral at UBS... SolarWinds (SWI) downgraded to Hold from Buy at Deutsche Bank... Syntel (SYNT) downgraded to Market Perform from Outperform at William Blair... TECO Energy (TE) downgraded to Neutral from Buy at UBS... Tangoe (TNGO) downgraded to Underweight from Equal Weight at Barclays... Tegna (TGNA) downgraded to Hold from Buy at Evercore ISI.
10:00 EDTBHISchlumberger CEO says Halliburton deal creating 'uncertainty' for customers
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08:38 EDTMYLLeerink puts 25% odds on Teva, Mylan deal within 12 months
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05:36 EDTNOVNational Oilwell downgraded to Sell from Neutral at UBS
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