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Stock Market & Financial Investment News

News Breaks
January 22, 2013
10:00 EDTAPKT, STT, BMRN, MHK, MTRX, NXY, VIP, WCC, PCP, ASML, VIAB, GDP, RIMM, BKYFOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ASML (ASML) upgraded to Buy from Hold at ABN Amro... ASML (ASML) upgraded to Hold from Sell at Deutsche Bank... Bank of Kentucky (BKYF) upgraded to Outperform from Neutral at RW Baird... Goodrich Petroleum (GDP) upgraded to Outperform from Market Perform at BMO Capital... Precision Castparts (PCP) upgraded to Buy from Neutral at UBS... Research in Motion (RIMM) upgraded to Outperform from Sector Perform at Scotia Capital... Viacom (VIAB) upgraded to Buy from Neutral at Goldman... VimpelCom (VIP) upgraded to Overweight from Neutral at HSBC... WESCO (WCC) upgraded to Outperform from Neutral at Credit Suisse... Mohawk (MHK) upgraded to Outperform from Sector Perform at RBC Capital... State Street (STT) upgraded to Neutral from Underweight at JPMorgan... Nexen (NXY) upgraded to Hold from Sell at Canaccord... BioMarin (BMRN) upgraded to Buy from Hold at Stifel Nicolaus... Acme Packet (APKT) upgraded to Outperform from Market Perform at Northland Securities... Matrix Service (MTRX) upgraded to Overweight from Equal Weight at Stephens.
News For ASML;BKYF;GDP;PCP;RIMM;VIAB;WCC;VIP;MHK;STT;NXY;BMRN;APKT;MTRX From The Last 14 Days
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November 13, 2014
06:53 EDTVIABViacom reports Q4 adjusted EPS $1.71, consensus $1.68
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06:45 EDTSTTState Street investigation centers on hiring of Ohio lobbyist, WSJ says
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06:17 EDTVIABSony unveils PlayStation Vue, a cloud-based TV service
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November 12, 2014
15:29 EDTVIABNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Wal-Mart (WMT), consensus $1.12; Viacom (VIAB), consensus $1.68; Tyco (TYC), consensus 56c; Kohl's (KSS), consensus 74c; Helmerich & Payne (HP), consensus $1.67; Sally Beauty (SBH), consensus 40c; Manulife Financial (MFC), consensus 40c; TransDigm (TDG), consensus $2.02; MAXIMUS (MMS), consensus 52c.
10:43 EDTVIABBernstein downgrades Discovery, Viacom, citing 'structural decline' in TV
Research firm Bernstein sees strong evidence that audiences of ad-supported TV have entered a period of "structural decline." The firm cut its rating on Discovery (DISCA), the owner of the Discovery Channel and Animal Planet cable stations, and Viacom (VIA,VIAB), which owns MTV and and Nickelodeon. The firm also cut its price target on CBS (CBS). WHAT'S NEW: Noting that audiences for ad-supported TV have fallen by unprecedented amounts for four months, Bernstein analyst Todd Juenger added that consumption of subscription video on demand, or SVOD, services continue to grow. Meanwhile, TV networks are seeing increased competition from Internet websites for ad dollars, limiting the ability of the networks to raise ad prices, Juenger stated. The profit margins and return on investment of content owners are likely to decline over time, the analyst believes. He downgraded Discovery to Market Perform from Outperform and set a $37 price target on the stock, and cut Viacom to Underperform from Market Perform, placing a $71 price target on that stock. Juenger reduced his price target on CBS to $55 from $60 and kept a Market Perform rating on the shares. He kept Outperform ratings on 21st Century Fox (FOXA), Disney (DIS), and Time Warner (TWX), saying that those are least affected by the trend, as they are less dependent than their peers on the American TV ad market and have a large amount of sports programming. PRICE ACTION: In mid-morning trading, Discovery lost 0.6% to $31.81, Viacom class A shares gained 0.6% to $70.09, CBS fell 0.7% to $51.48, Twenty-First Century Fox class A shares lost 0.5% to $34.75, Time Warner fell 0.5% to $77.69 and Disney was flat near $90 per share.
10:00 EDTVIABOn The Fly: Analyst Downgrade Summary
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09:30 EDTVIABViacom and Frontier Communications renew carriage agreement
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07:53 EDTBMRNLeerink to hold a tour
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06:13 EDTVIABViacom downgraded at Bernstein
As previously reported, Bernstein downgraded Viacom to Underperform from Market Perform. The analyst believes Viacom is vulnerable to a secular declines in TV consumption and SVOD substitution. Price target lowered to $71 from $77.
05:38 EDTVIPVimpelCom confirms FY14 revenue decline of low to mid-single digit vs. last year
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05:36 EDTVIPVimpelCom reports Q3 EPS 6c vs. 15c last year
Reports Q3 revenue $5.15B vs. $5.69M last year. Mobile customer base increased 5M year-over-year to 223.4M.
November 11, 2014
16:08 EDTVIABViacom downgraded to Market Perform from Outperform at Bernstein
09:17 EDTVIPVimpelCom Italian towers bid on by American Tower, Bloomberg says
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November 10, 2014
15:15 EDTGDPJefferies to hold a conference
2014 Global Energy Conference is being held in New York on November 11-12.
15:03 EDTSTTState Street discloses receipt of DOJ, SEC subpoenas
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10:04 EDTASML, BMRNOn The Fly: Analyst Upgrade Summary
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08:31 EDTASMLASML upgraded to Positive at Susquehanna
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06:37 EDTASMLASML upgraded to Positive from Neutral at Susquehanna
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06:02 EDTBMRNBioMarin upgraded to Buy from Neutral at Goldman
Goldman upgraded BioMarin to Buy based on increased confidence in BMN-111 for achondroplasia with expected proof-of-concept data in Q2 2015. The firm now sees a greater than 50% probability of success and peak sales of $900M. Price target raised to $104 from $78.
November 9, 2014
16:36 EDTVIABDisney's 'Big Hero 6' comes out on top at box office, Bloomberg says
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