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Stock Market & Financial Investment News

News Breaks
January 28, 2013
10:15 EDTPG, HAL, SNE, NSC, FB, WAT, XRX, ST, NWSA, BBY, SNY, BW, SPLS, O, NTAP, ASMLOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ASML (ASML) upgraded to Buy from Neutral at Citigroup... Best Buy (BBY) upgraded to Buy from Hold at BB&T... Facebook (FB) upgraded to Outperform from Market Perform at Raymond James... NetApp (NTAP) upgraded to Overweight from Equal Weight at Barclays... News Corp. (NWSA) upgraded to Overweight from Equal Weight at Morgan Stanley... Norfolk Southern (NSC) upgraded to Buy from Hold at Jefferies... Realty Income (O) upgraded to Outperform from Market Perform at Wells Fargo... Sensata (ST) upgraded to Overweight from Equal Weight at Barclays... Sony (SNE) upgraded to Buy from Neutral at Citigroup... Staples (SPLS) upgraded to Neutral from Sell at Goldman... Xerox (XRX) upgraded to Outperform from Market Perform at BMO Capital... BorgWarner (BW) upgraded to Buy from Hold at KeyBanc... Halliburton (HAL) upgraded to Buy from Hold at MLV Equity... Waters (WAT) upgraded to Buy from Hold at WallachBeth... Procter & Gamble (PG) upgraded to Buy from Neutral at B. Riley Caris... Sanofi (SNY) upgraded to Neutral from Conviction Sell at Goldman.
News For ASML;BBY;FB;NTAP;NWSA;NSC;O;ST;SNE;SPLS;XRX;HAL;BW;WAT;PG;SNY From The Last 14 Days
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February 2, 2016
06:10 EDTSTSensata sees Q1 adj. EPS 61c-67c, consensus 70c
Sees Q1 revenue $770M-$810M, consensus $821.78M. Q1 revenue view at mid-point represents growth of 5.2% compared to the Q1 revenue of $750.7M. In addition, the Company expects Q1 Adjusted net income of $104M-$114M, or 61c-67c per diluted share. This compares to Q1 of FY15 Adjusted net income per diluted share of 65c. This guidance assumes a diluted share count of 171.5M for the Q1.
06:08 EDTSTSensata sees FY16 revenue $3.140B-$3.280B, consensus $3.31B
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06:06 EDTSTSensata sees FY16 adj. EPS $2.87, consensus $3.00
Company said, "Revenue continues to grow at a double-digit pace; Sensata delivered 14% compound annual revenue growth in the 5 years between 2010 to 2015. Executing on Sensata's proven acquisition integration playbook will drive near-term earnings growth even in a low-growth environment. We initiate our 2016 financial guidance with adjusted EPS of $2.87 at the midpoint, an increase of 4% year over year and 11% on a constant currency basis."
06:04 EDTSTSensata reports Q4 adj. EPS 66c, consensus 65c
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05:56 EDTFBAlphabet price target raised to $911 from $812 at Piper Jaffray
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05:19 EDTSNYSanofi Pasteur launches R&D project targeting prevention of Zika virus infection
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05:09 EDTFBStocks with implied volatility below IV index mean; UA FB
Stocks with implied volatility below IV index mean; Under Armour (UA) 35, Facebook (FB) 31 according to iVolatility.
February 1, 2016
17:13 EDTFBFacebook's WhatsApp reaches 1B users
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16:01 EDTFBOptions Update; February 1, 2016
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14:49 EDTFBFacebook breaks out
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11:27 EDTXRXFitch downgrades Xerox to BBB-; maintains Rating Watch Negative
Fitch Ratings has downgraded the ratings for Xerox Corporation, including the long-term Issuer Default Rating, to 'BBB-' from 'BBB' following the company's announcement it will separate into two publicly traded companies. Fitch maintains the Rating Watch Negative pending further details around the ultimate corporate and capital structure of the remaining company. Fitch's actions affect $9.4B of total debt including the undrawn $2B revolving credit facility. The downgrade reflects Fitch's belief that the separation reduces diversification, scale and top line growth prospects even as DT continues facing significant long-term secular headwinds and BPO is amidst a multi-year restructuring. The downgrade also reflects Fitch's belief that alternative scenarios -- including a leveraging recapitalization, business sale, straight separation of the DT and Services segment or nothing -- would be less credit friendly or intensify event risk, were Xerox to not complete the separation. Fitch's maintenance of the Watch Negative reflects the current lack of certainty around which of the two public companies will constitute Remainco, as well as the Remainco's ultimate structure and capitalization. Fitch believes legacy Xerox is more likely to be Remainco, given legacy Xerox could be capitalized with the majority of debt, including all financing business related debt and modest share of core debt aimed at preserving an investment grade rating. Fitch anticipates resolving the Watch Negative upon formalization of Remainco's ultimate structure and capitalization. Were legacy Xerox to constitute Remainco, the Watch Negative could be removed and ratings affirmed at 'BBB-' if Fitch believes the operating profile will strengthen from investments in DT markets that yield legitimate prospects for the resumption of top line growth in the intermediate term.
10:02 EDTXRXOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AIG (AIG) downgraded at BMO Capital... ARMOUR Residential (ARR) downgraded to Underweight from Equal Weight at Barclays... Abraxas Petroleum (AXAS) downgraded to Neutral from Buy at SunTrust... Anchor BanCorp Wisconsin (ABCW) downgraded to Equal Weight from Overweight at Stephens... Ashford Hospitality Prime (AHP) downgraded to Hold from Buy at Canaccord... Ashford Hospitality (AHT) downgraded to Hold from Buy at Canaccord... Axiall (AXLL) downgraded to Neutral from Buy at Citi... Boston Private Financial (BPFH) downgraded to Neutral from Buy at SunTrust... Colliers International (CIGI) downgraded to Sector Perform from Outperform at RBC Capital... Companhia Brasileira de Distribuicao (CBD) downgraded to Neutral at Credit Suisse... Connecticut Water (CTWS) downgraded to Market Perform from Outperform at Wells Fargo... Duke Realty (DRE) downgraded on valuation, growth outlook at BMO Capital... EP Energy (EPE) downgraded to Neutral from Buy at SunTrust... Eastman Chemical (EMN) downgraded at SunTrust... Equity Residential (EQR) downgraded to Neutral from Buy at Mizuho... Genuine Parts (GPC) downgraded to Neutral from Overweight at JPMorgan... Hersha Hospitality (HT) downgraded to Hold from Buy at Canaccord... Jones Energy (JONE) downgraded to Neutral from Buy at SunTrust... Mondelez (MDLZ) downgraded to Neutral from Positive at Susquehanna... Nokia (NOK) downgraded to Hold from Buy at Canaccord... Ollie's Bargain Outlet (OLLI) downgraded to Neutral from Outperform at Credit Suisse... Oshkosh (OSK) downgraded to Hold from Buy at Drexel Hamilton... Outerwall (OUTR) downgraded on Redbox weakness at Roth Capital... PACCAR (PCAR) downgraded to Underperform from Peer Perform at Wolfe Research... Restoration Hardware (RH) downgraded to Market Perform from Outperform at Cowen... Rex Energy (REXX) downgraded to Neutral from Buy at SunTrust... Sanchez Energy (SN) downgraded to Neutral from Buy at SunTrust... SandRidge Energy (SD) downgraded to Neutral from Buy at SunTrust... Santander Consumer (SC) downgraded to Underperform from Neutral at BofA/Merrill... Tiffany (TIF) downgraded to Market Perform from Outperform at Cowen... Trex Company (TREX) downgraded to Hold from Buy at BB&T... U.S. Steel (X) downgraded to Neutral from Outperform at Macquarie... United Community Financial (UCFC) downgraded to Neutral from Outperform at Boenning & Scattergood... Xerox (XRX) downgraded to Equal Weight from Overweight at Morgan Stanley.
09:36 EDTFBActive equity options trading on open
Active equity options trading on open: BAC AAPL FB AMZN TWTR MGM MCD NFLX GILD INTC TSLA AA BABA C
08:20 EDTNWSA, FBTwitter jumps after The Information breaks potential deal
Shares of Twitter (TWTR) are rising in pre-market trading after tech reporter Jessica Lessin said private equity firm Silver Lake and investor Marc Andreessen and have "considered some sort of deal" for the microblog service operator. WHAT'S NOTABLE: Lessin said in her report published on her site, The Information, that she did not know if deal considerations are "active" now with Andreessen and private equity firm Silver Lake. Silver Lake calls itself "the global leader in technology investing," stating that it has over $26B in combined assets under management. FREQUENT SPECULATION TARGET: Twitter has often been the subject of takeover rumors in the past year. Last April, Re/code's Kurt Wagner reported that Google (GOOG) and Facebook (FB) had looked at a potential acquisition of Twitter in the past, but noted at that time that neither tech giant was in discussions to acquire the social network owner. On January 20, News Corp. (NWSA) declined comment to CNBC regarding speculation about its potential interest in acquiring Twitter. Speculation also circulated the same day regarding an activist investor taking an interest in Twitter, trading sources told The Fly. PRICE ACTION: In pre-market trading near 8:15 am ET, Twitter rose 7% to $18 per share.
06:53 EDTXRXXerox downgraded to Equal Weight from Overweight at Morgan Stanley
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05:10 EDTFBStocks with implied volatility below IV index mean; UA FB
Stocks with implied volatility below IV index mean; Under Armour (UA) 36, Facebook (FB) 30 according to iVolatility.
January 31, 2016
20:15 EDTXRXXerox CEO: Company split wasn't about panic, WSJ says
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19:04 EDTFBApple acquires Flyby, assembles 'secret' virtual reality team, FT says
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14:12 EDTFBApple should avoid 'dubious' M&A, focus on cloud, AI development, Barron's says
"Impatient" investors encouraging Apple (AAPL) to become a mere dividend payer or make "dubious" acquisitions are not making much sense, Barron's contends in its 'Technology Trader' column. Apple continues to innovate and its iPhone franchise "will endure," though the one area where Apple lags behind peers and "can and should" make progress is cloud computing, according to the publication. Alphabet (GOOG), Facebook (FB) and Microsoft (MSFT) are making large strides in cloud and artificial intelligence, but the company still has "plenty of opportunity" to catch up given its product install base, Barron's says. Reference Link
11:39 EDTXRX, PG, FBS&P falls 5% in January despite second straight winning week to close month
Stocks finished the month of January with two straight winning weeks, but investors are still glad to see the calendar flip as those winners only cut the S&P's loss to 5% for the month. With growth worries abounding amid troubling signs from China and as oil languishes below $35 per barrel, the manufacturing readings from China, Europe, and the U.S. due out on Monday will be essential to whether the new month continues the uptrend of the end of January or the dour tone that dominated the early half of the month. MACRO NEWS: The Federal Reserve kept interest rates unchanged following its policy meeting this week, as almost universally expected. In its accompanying statement, the central bank said its committee members expect that economic conditions will "evolve in a manner that will warrant only gradual increases in the federal funds rate." The group added that inflation is expected to "remain low in the near term, in part because of the further declines in energy prices, but to rise to 2% over the medium term as the transitory effects of declines in energy and import prices dissipate and the labor market strengthens further"... In other domestic economic news, the Commerce Department's first read on fourth quarter gross domestic product came in at 0.7% annualized growth, below the already anemic 0.8% growth forecast. The S&P/Case-Shiller 20-city home price index rose 5.8% from the prior year in November, topping expectations for a 5.7% year-over-year increase. The separate FHFA house price index showed a monthly gain of 0.5% in November, matching the consensus forecast. Markit's services PMI for January came in at 53.7, missing the 54.0 forecast. The preliminary reading of the Conference Board's consumer confidence index for January came in at 98.1, topping the 96.5 reading that was expected. New home sales surged 10.8% to a 544,000 annualized pace in December, topping expectations and hitting their highest level in 10 months. Initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The University of Michigan consumer sentiment index slipped to 92.0 in the final January print, missing the 93.0 reading that was forecast... In a surprising move in Asia, the Bank of Japan introduced a rate of minus 0.1% on certain excess holdings of cash while maintaining the pace of its asset purchases. Japan also reported data pointing to a softening economy, as total CPI grew 0.2% year-over-year in December, core CPI rose at only a 0.1% pace and industrial production fell a preliminary 1.4% month-over-month in December. COMPANY NEWS: McDonald's (MCD) advanced Monday after the fast food giant reported better than expected earnings and comparable sales growth for the fourth quarter, powered by the launch of All Day Breakfast in the U.S.... Earnings season accelerated Tuesday as four members of the bluechip Dow Jones Industrial Average posted results before the opening bell. 3M (MMM) was the top advanced on the index with a gain of over 5%, while Johnson & Johnson (JNJ), Procter & Gamble (PG) and DuPont (DD) all notched gains that day following their reports as well... Apple (AAPL) declined more than 6.5% on Wednesday after the tech giant reported first quarter earnings that topped consensus estimates, but also issued revenue guidance for the new quarter that missed expectations. The company was noted by several analysts as taking 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 that day, as Boeing (BA) shares plummeted nearly 9% after its profit outlook for the new fiscal year fell far short of the Street's consensus forecast... Facebook (FB) surged 15.5% on Thursday after the social media giant's fourth quarter earnings and revenue beat expectations. A number of Wall Street analysts increased their price targets for the stock following the report, including Piper Jaffray's Gene Munster, who hiked his target to a "Street-high" $170 per share. The same day, Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded almost 5% after the company jumped over the lowered bar that had been set by bearish analysts... On Friday, shares of Amazon (AMZN) declined more than 7.5% after the company's fourth quarter results came in below expectations. Meanwhile, Microsoft (MSFT), which reported better than expected earnings, gained almost 6%. Chevron (CVX) reported a quarterly loss due to taking impairments and other charges of $1.1B. The company, which also reported that its average sales price per barrel of crude oil and natural gas liquids in the U.S. was $35 in fourth quarter, down from $66 a year ago, edged up 0.7% to $86.44... Among the many others reporting earnings this week, Visa (V), Mastercard (MA), Under Armour (UA), Sprint (S) and Biogen (BIIB) gained immediately following their reports, while Qualcomm (QCOM), eBay (EBAY), U.S. Steel (X), VMware (VMW) and Anthem (ANTM) all slid following their own... Xerox (XRX) announced plans to separate into two independent publicly-traded companies: one focused on Document Technology and another Business Process Outsourcing company. Xerox also announced an agreement related to the governance of the Business Process Outsourcing company under which six directors of the new company will be selected by Xerox and three will be selected by current Xerox shareholder Carl Icahn... Terex (TEX) surged more than 36% higher on Tuesday after receiving a $30 per share acquisition offer from China's Zoomlion. Terex peers Manitowoc (MTW), Joy Global (JOY) and Oshkosh (OSK) also gained after the offer was disclosed... Weight Watchers (WTW) shares soared nearly 20% Tuesday after noted shareholder and partner Oprah Winfrey tweeted a video detailing her progress using the company's program, indicating that she'd already lost 26 pounds thanks to its plan... AIG (AIG) provided its much-anticipated strategy update, committing to return at least $25B to shareholders over the next two years and announcing the sale of AIG Advisor Group to Lightyear Capital and PSP Investments. The company, under ongoing pressure from activist investors including Carl Icahn, also said it will publicly offer a portion of its United Guaranty unit, though it expressly rejected a full company breakup... SunEdison (SUNE) gained 18% during the week after agreeing to new corporate governance initiatives with David Einhorn's Greenlight Capital, including amending its bylaws to restrict equity issuances for two years without a supermajority board vote... Twitter (TWTR) slumped nearly 6% this week after CEO Jack Dorsey confirmed the departure of four company executives, leading research firm Stifel to downgrade the shares. INDEXES: The Dow gained about 2.2% to close at 16,466.30; the S&P 500 rose about 1.6% to close at 1,940.24; the Nasdaq advanced about 0.4% to close at 4,613.95.
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