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Stock Market & Financial Investment News

News Breaks
August 19, 2014
10:13 EDTSCL, SAFM, RPTP, PSG, OCUL, NADL, MRKT, JAZZ, INNL, GMED, FIATY, FARO, LOCO, BITA, ATHMOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Autohome (ATHM) initiated with a Buy at Brean Capital... Bitauto (BITA) initiated with a Buy at Brean Capital... El Pollo Loco (LOCO) initiated with a Hold at Jefferies... FARO Technologies (FARO) initiated with an Overweight at Stephens... Fiat (FIATY) initiated with an Underperform at Credit Suisse... Globus Medical (GMED) initiated with a Buy at Gabelli... Innocoll (INNL) initiated with a Buy at Stifel... Jazz Pharmaceuticals (JAZZ) initiated with an Overweight at JPMorgan... Markit (MRKT) initiated with an Outperform at Credit Suisse... North Atlantic Drilling (NADL) initiated with a Neutral at Goldman... Ocular Therapeutix (OCUL) initiated with an Outperform at Cowen... Performance Sports Group (PSG) initiated with an Overweight at Morgan Stanley... Raptor Pharmaceuticals (RPTP) coverage transferred with an Outperform at Cowen... Sanderson Farms (SAFM) initiated with a Buy at Sidoti... Stepan Company (SCL) initiated with a Hold at KeyBanc.
News For ATHM;BITA;LOCO;FARO;FIATY;GMED;INNL;JAZZ;MRKT;NADL;OCUL;PSG;RPTP;SAFM;SCL From The Last 14 Days
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October 30, 2014
16:52 EDTGMEDGlobus Medical reports Q3 EPS 24c, consensus 21c
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October 28, 2014
16:27 EDTFAROFARO Technologies reports Q3 EPS 38c, consensus 34c
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07:21 EDTRPTPCBI to hold a conference
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October 27, 2014
14:37 EDTFIATYToyota tops Consumer Reports survey, Reuters says
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07:07 EDTATHM, BITAChina Information enters into strategic partnership with Tianjin Pengfeng
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October 24, 2014
08:15 EDTJAZZJazz Pharmaceuticals price target raised to $201 from $163 at Canaccord
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06:51 EDTRPTPRaptor Pharmaceuticals announces departure of CFO Georgia Erbez
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October 23, 2014
16:44 EDTGMEDGlobus Medical announces acquisition of Transplant Technologies
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October 22, 2014
07:19 EDTSCLStepan Company: North American Surfactant business challenged in Q3
North American Surfactant business continued to be challenged by lower commodity volumes which negatively impacted corporate results. The Polymer segment delivered solid earnings from strong North American polyol growth in both our traditional rigid foam insulation business and last year's polyester resin acquisition. The company said, "The announced Surfactant acquisition in Brazil has been approved by the anti-trust authorities. We anticipate the transaction will be completed early first quarter next year. We are resourcing projects to add polyol capacity in China, Poland and the United States. Our work on the previously announced formal program, using internal and external resources to improve efficiency across the Company, is advancing and should deliver meaningful results in 2015."
07:10 EDTSCLStepan Company: The company has experienced a difficult 2014
The company said, "We recognize that our performance has been disappointing, but there are many projects underway which we expect will reduce our costs and aggressively build our sales. We look forward to improving Surfactant volumes and product mix and continuing to build on the momentum within our Polymer group."
07:10 EDTSCLStepan Company: Q4 to be negatively impacted by surfactant volumes in N America
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07:09 EDTSCLStepan Company reports Q3 adjusted EPS 68c, consensus 90c
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October 21, 2014
11:57 EDTLOCOChipotle falls after outlook for FY15 comparable restaurant sales disappoints
Shares of fast casual restaurant chain Chipotle Mexican Grill (CMG) are falling after the company issued a disappointing outlook for fiscal 2015 comparable restaurant sales. WHAT'S NEW: Last night, Chipotle reported third quarter earnings per share of $4.15 and revenue of $1.08B, topping analysts’ consensus estimates of $3.84 and $1.06B, respectively. Comparable restaurant sales rose 19.8% in the quarter, driven primarily by increased traffic and from a higher average check, which includes the benefit of a nationwide menu price increase that was fully rolled out by the end of the second quarter. The company opened 43 new restaurants in Q3. WHAT'S NOTABLE: Chipotle forecast comparable restaurant sales increases in the mid-teens for fiscal year 2014, and the company said it expects to open 180-195 new restaurants during the year. The company also sees an effective tax rate for FY14 of about 38.5%. For FY15, the company sees low to mid-single digits comparable restaurant sales gains, 190-205 new restaurant openings and an effective tax rate of 39.1%. On Chipotle’s Q3 earnings conference call, management said it expects food costs to continue rising into the fourth quarter and throughout 2015. The company also noted that it was still seeing strong traction growth regardless of recent menu price increases. Chipotle said it will "opportunistically" repurchase stock in order to enhance shareholder value. ANALYST REACTION: This morning, Wells Fargo kept a Market Perform rating on Chipotle, but lowered its price target range on shares to $600-$625 from $650-$675. In its note, Wells said greater than expected commodity inflation and labor cost pressure in 2015 will likely lead to lower Street estimates. Wells expects same store sales to decline sequentially from 4Q14 through 3Q15 due to double-digit traffic comparisons in earlier quarters and less pricing in later quarters. Another firm, Oppenheimer, recommended using any post-earnings weakness in shares of Chipotle as a buying opportunity. The firm believes investors are concerned over 2015 estimates coming down on food cost pressures. The firm said food cost issues are unlikely to get worse from here and it kept an Outperform rating on Chipotle with a $775 price target. PRICE ACTION: In late morning trading, Chipotle fell $44.14, or nearly 7%, to $609.28 on nearly twice its average daily trading volume. Despite today's pull back, the shares have gained approximately 21% over the past 12 months. OTHERS TO WATCH: Other fast casual restaurant companies include El Pollo LoCo (LOCO), Fiesta Restaurant (FRGI), Jack in the Box (JACK), and McDonald’s (MCD), which reported results this morning.
October 20, 2014
07:16 EDTOCULAmerican Academy of Ophthalmology to hold annual meeting
AAO Annual Meeting 2014 is being held in Chicago on October 18-21.
October 17, 2014
09:21 EDTSAFMSanderson Farms weakness a buying opportunity, says Cleveland Research
Cleveland Research recommends taking advantage of weakness in Sanderson Farms due to weaker breast meat prices and raised estimates to reflect lower feed costs and higher wing pricing forecasts. Shares are Buy rated.
09:07 EDTSAFMProtein stock pullback on Sanderson comments overdone, says BMO Capital
BMO Capital views yesterday's decline in Sanderson Farms (SAFM), Pilgrim's Pride (PPC) and Tyson Foods (TSN) as an overreaction to Sanderson's comments regarding breast prices falling to year-ago levels for the next four months. BMO notes that breast prices always dip in the fall. Following Sanderson's investor day, BMO said it sees a greater probability of chicken margins remaining at near-record levels in 2015. It keeps an Outperform rating on the stock.
07:53 EDTJAZZJazz Pharmaceuticals shares 'signifincantly undervalued,' says FBR Capital
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07:39 EDTSAFMChicken stock sell-off yesterday overdone, says JPMorgan
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