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Stock Market & Financial Investment News

News Breaks
January 8, 2013
10:00 EDTNE, MYL, NOV, ROK, RTN, NOC, ATK, SRC, DDR, JBLU, FIO, AZO, BHI, BPI, CF, EMC, EMR, ES, FTI, 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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October 8, 2014
07:52 EDTNOCNorthrop Grumman selects ANSYS solutions for Black Hawk cockpit system
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07:19 EDTRTNRaytheon contemplates agreement with Qatar before 2014 end, Reuters says
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06:47 EDTMYLLawmakers may push for new regulations on generic drug makers, NY Times says
After the prices of some generic drugs soared more than 1,000% over the last year, two influential members of Congress are probing the sector and threatening to look to impose new regulations on it, according to The New York Times. Generic drug makers include Teva (TEVA), Mylan (MYL), Actavis (ACT), and Lannett (LCI).Reference Link
05:57 EDTNOVNational Oilwell downgraded to Neutral from Overweight at HSBC
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October 7, 2014
14:01 EDTRTNRaytheon breaks ground for new warehouse near Farmington, N.M.
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10:56 EDTMYLOptions with increasing implied volatility
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09:03 EDTCFCF Industries volatility elevated into Yara CEO resigns amid CF merger talks
CF Industries (CF) overall option implied volatility of 34 is above its 26-week average of 25 according to Track Data, suggesting large price movement into Yara (YARIY) announcing its CEO resigned amid CF merger talks.
08:13 EDTCFYara likely to buy CF for up to 30% premium, says Bernstein
Bernstein believes the potential merger between Yara (YARIY) and CF Industries (CF) will be structured as Yara buying CF with 75% stock, 25% cash and up to a 30% premium or $360 per share. The firm sees limited upside for Yara shareholders and keeps an Underperform rating on the stock. This morning, the company announced the resignation of its CEO and said merger talks with CF continue.
08:09 EDTEMCHP undisclosed info seen pointing to life in EMC talks, Bloomberg reports
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07:03 EDTEMCEMC valuation of $39 per share achievable, says RBC Capital
RBC Capital valued each of EMC's business lines separately following recent spin-offs in the tech space and concluded that fair valuation of $39 per share is achievable. RBC believes shares are positioned to break out of a long held trading range and that now is an appropriate time for the company to look at strategic alternatives with CEO Joe Tucci retiring in February 2015. The firm has an Outperform rating on EMC with a $33 price target.
06:31 EDTCFYara International CEO resigns amid CF merger talks
Yara International (YARIY) announced that Torgeir Kvidal has been appointed acting CEO effective today, and Jørgen Ole Haslestad has resigned as CEO. "Yara's Board have concluded that Haslestad is not the right person to lead the company going forward, also in light of the on-going talks with CF Industries (CF). Haslestad would not have a role in a potential merged company," says Leif Teksum, Chairman of the Yara Board of Directors. "The discussions with CF Industries will continue with Kvidal leading the Yara team, with support from the Board and in particular from me as Chairman," says Teksum. Kvidal has served as CFO since May 2012.
06:06 EDTBHIBaker Hughes announces September international rig count down 16 to 1,323
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October 6, 2014
17:20 EDTRTNRaytheon awarded $19.5M contract from U.S. Air Force
The U.S. Air Force awarded Raytheon Company a $19.5M contract for engineering and manufacturing development of a new expeditionary radar that will detect, identify and track drones, missiles and aircraft. The total contract, including all options, is currently estimated at $71.8M and includes the procurement of an additional three radar systems, for a total of six radar systems and product support. The radar, called the Three Dimensional Expeditionary Long Range Radar, or 3DELRR, is one of the first programs under the DoD's Better Buying Power initiative to be designed for exportability, enabling U.S. forces, allies and security partners to benefit from the system.
11:09 EDTMYLOptions with increasing implied volatility
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11:02 EDTEMCHP rises as split viewed as potential prelude to deals
Shares of HP (HPQ) are climbing after the company announced that it would split itself into two publicly traded companies. Analysts were mostly upbeat on the news and tech news website Re/code said that the two companies would be "in deal-making mode" following the split. WHAT'S NEW: HP this morning said it would split itself into two companies by the end of its fiscal 2015. One company will include HP's technology infrastructure, software and services businesses, to be known as "Hewlett-Packard Enterprise," while the other will include the company's PC and printing businesses and be called "HP Inc." Meg Whitman, who is currently the CEO of HP, will become CEO of Hewlett-Packard Enterprise and chairman of HP, Inc. ANALYST REACTION: Shareholders will likely view the move positively, as limited synergies exist between HP's enterprise business and its PC and printing business, Deutsche Bank analyst Sherri Scribner wrote. Moreover, the forward price to earnings ratio of the enterprises unit, whose margins are set to expand, are more likely to reach close to 11x following a split, in-line with the multiple of Xerox (XRX) and CSC (CSC), the analyst contended. Noting that HP remains one of the cheapest names in the S&P 500, Scribner kept a $40 price target and Buy rating on the shares. The split is "a bold and smart move" by HP that will give it the financial flexibility needed to sell off one or both of the PC and printing businesses, wrote Cantor analyst Brian White. The shareholders of EMC (EMC), which reportedly had been in discussions about merging with HP, would have difficulty accepting HP's printer and PC business, according to White. The analyst raised his price target on HP to $39 from $34.50 but kept a Hold rating on the stock. WHAT'S NOTABLE: Both Hewlett-Packard Enterprise and HP Inc. will "be in deal-making mode" after the split, Re/code stated. HP Inc. is likely to draw attention from both Dell and China's Lenovo (LNVGY), which were both approached by HP about a possible deal over the last year, the website stated. Meanwhile, Hewlett-Packard Enterprise could restart dormant merger talks with EMC, while Dell and Cisco (CSCO) could emerge as bidders and offer shareholders of both Hewlett-Packard Enterprise and EMC better terms, Re/code stated. However, Cisco has carried out a more conservative M&A strategy lately, while its CEO, John Chambers, who is preparing to retire soon, said the company would not be interested in buying EMC, Re/code noted. PRICE ACTION: In mid-morning trading, HP jumped 4.6% to $36.83, while shares of EMC were down fractionally.
11:01 EDTNOCNorthrop Grumman wins $53.7M contract from CMS
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10:39 EDTEMCHP price target raised to $39 from $34.50 at Cantor
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08:14 EDTEMREmerson weakness creates buying opportunity, says Argus
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07:30 EDTMYLMylan launches generic Combivir
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06:38 EDTEMCSpun off HP companies could be takeover targets, Re/code says
After HP (HPQ) splits into two publicly traded companies, both of those companies could become takeover targets, according to Re/code. The PC and printing unit could interest Dell or Lenovo (LNVGY), while Hewlett-Packard Enterprises could merge with EMC (EMC) and/or become a target for Dell and Cisco (CSCO), the website stated. Reference Link
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