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Stock Market & Financial Investment News

News Breaks
February 14, 2014
10:07 EDTMANU, DISH, PRSS, ARO, GNC, CHGG, TSCO, FWLT, CBA, CADX, ATK, SMS, AVGO, CNMD, TRGP, EQM, CVE, AEM, MAT, CCE, HWAYOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ATK (ATK) downgraded to Market Perform from Outperform at Cowen... Aeropostale (ARO) downgraded to Market Perform from Outperform at BMO Capital... Agnico-Eagle (AEM) downgraded to Neutral from Buy at UBS... Cadence (CADX) downgraded to Neutral from Buy at Guggenheim... CafePress (PRSS) downgraded to Hold from Buy at Cantor... Cenovus Energy (CVE) downgraded to Hold from Buy at Canaccord... ClearBridge American (CBA) downgraded to Neutral from Buy at BofA/Merrill... DISH (DISH) downgraded to Neutral from Buy at Citigroup... EQT Midstream Partners (EQM) downgraded to Neutral from Outperform at Credit Suisse... Foster Wheeler (FWLT) downgraded to Hold from Buy at BB&T... Manchester United (MANU) downgraded to Market Perform from Outperform at Raymond James... Targa Resources (TRGP) downgraded to Market Perform from Outperform at Wells Fargo... Tractor Supply (TSCO) downgraded to Perform from Outperform at Oppenheimer... CONMED (CNMD) downgraded to Neutral from Buy at Ladenburg... Healthways (HWAY) downgraded to Neutral from Buy at Dougherty... Chegg (CHGG) downgraded at BofA/Merrill... Cenovus Energy (CVE) downgraded to Hold from Buy at TD Securities... Coca-Cola Enterprises (CCE) downgraded to Neutral from Overweight at HSBC... Avago (AVGO) downgraded to Neutral from Buy at DA Davidson... GNC Holdings (GNC) downgraded to Neutral from Buy at Goldman... Mattel (MAT) downgraded to Hold from Buy at Argus... Sims Metal (SMS) downgraded to Neutral from Buy at BofA/Merrill.
News For ATK;ARO;AEM;CADX;PRSS;CVE;CBA;DISH;EQM;FWLT;MANU;TRGP;TSCO;HWAY;CNMD;CHGG;CCE;AVGO;GNC;MAT;SMS From The Last 14 Days
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July 23, 2015
10:08 EDTMATOptions with decreasing implied volatility
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08:18 EDTTSCOTractor Supply positive thesis remains intact, says Baird
Baird said its positive thesis for Tractor Supply remains intact following Q2 results that the firm views as solid. Baird reiterated its Outperform rating and $107 price target on Tractor Supply shares, citing its top-line strength, ramp up in Western stores, improved gross margins and increased guidance.
07:20 EDTEQMEQT Midstream Partners to build header pipeline for Range Resources
EQT Midstream Partners (EQM) announced that it has entered into a definitive agreement with Range Resources (RRC) – Appalachia, LLC to construct a natural gas header pipeline in southwestern Pennsylvania to support Range’s dry Marcellus and Utica development. The pipeline will provide greater than half a billion cubic feet per day of firm capacity and is backed by a long-term firm capacity reservation commitment. EQT Midstream Partners will invest approximately $250M for the construction of 32 miles of pipeline and installation of approximately 32,000 horsepower of compression. The Partnership plans to complete the project in two phases, with phase one expected to be in-service by the third quarter of 2016 and phase two by mid-year 2017. The majority of capital investment is expected throughout 2016 and the first half of 2017.
07:16 EDTEQMEQT Midstream Partners sees Q3 adjusted EBITDA $112M-$117M
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07:15 EDTEQMEQT Midstream Partners reports Q2 EPS $1.12, consensus $1.15
Reports Q2 revenue $144.6M, consensus $152.19M.
July 22, 2015
19:40 EDTDISHDISH executive says auction strategy 'complied with all legal requirements'
In response to the FCC's proposal to deny roughly $3.3B in spectrum auction discounts, DISH EVP and general counsel R. Stanton Dodge stated, "We respectfully disagree with the proposed denial of the bidding credits. Our approach to the AWS-3 auction, which followed 20 years of FCC precedent and complied with all legal requirements, was intended to enhance competition -- in the auction and in the marketplace long term. Our investments in NorthStar and SNR helped make the AWS-3 auction the most successful spectrum auction in FCC history, and resulted in more than $20B of direct benefit to the American taxpayer." Reference Link
19:02 EDTTSCOOn The Fly: After Hours Movers
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17:35 EDTDISHDISH meets with FCC, says draft order would deny $3.3B in auction discounts
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16:34 EDTTSCOTractor Supply slips lower after earnings
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16:07 EDTTSCOTractor Supply raises FY15 EPS outlook to $3.00-$3.08 from $2.95-$3.05
Raises FY15 revenue outlook to $6.25B-$6.33B. Comparable store sales are now expected to increase 3.5%-4.5% compared to prior expectation of an increase of 2.5%-4.0%. Cites "strong performance in the first half."
16:06 EDTTSCOTractor Supply reports Q2 EPS $1.12, consensus $1.11
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15:26 EDTTSCONotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Qualcomm (QCOM), consensus 95... American Express (AXP), consensus $1.32... Texas Instruments (TXN), consensus 65c... Las Vegas Sands (LVS), consensus 61c... Crown Castle (CCI), consensus $1.06... Discover Financial (DFS), consensus $1.32... Tractor Supply (TSCO), consensus $1.11... SanDisk (SNDK), consensus 33c... SL Green Realty (SLG), consensus $1.56... Xilinx (XLNX), consensus 54c... Weatherford (WFT), consensus (12c)... F5 Networks (FFIV), consensus $1.60... United Rentals (URI), consensus $1.74... Fortinet (FTNT), consensus 9c... LaSalle Hotel (LHO), consensus 89c... Oceaneering International (OII), consensus 68c... Cheesecake Factory (CAKE), consensus 62c.
14:51 EDTAVGOEarnings Watch: Qualcomm reports after speculations of potential breakup
Qualcomm (QCOM) is expected to report third quarter earnings after the close on July 22, with a conference call scheduled for 4:45 pm ET. Qualcomm is a maker of semiconductors and telecommunications equipment. EXPECTATIONS: Analysts are looking for earnings per share of 95c on revenue of $5.85B. EPS consensus ranges 90c-$1.05 on a revenue range of $5.59B-$6.08B, according to First Call. LAST QUARTER: On April 22, Qualcomm reported Q2 EPS of $1.40 against expectations for $1.33, and revenue of $6.89B versus estimates of $6.83B. The company also cut its FY15 EPS guidance to $4.60-$5.00 from $4.85-$5.05 and lowered projected revenue to $25B-$27B from $26.3B-$28B, saying it expects pressure in its semiconductor business due to customer shifts in the premium segment and a decline in Qualcomm's share at an unnamed large customer. NEWS: On May 8, Reuters reported that EU antitrust regulators asked Qualcomm's competitors how the company's licensing and business practices affect them, and on July 16, the European Commission confirmed two formal antitrust investigations of the company. On May 25, Qualcomm and Daimler (DDAIF) announced a strategic collaboration to develop connected car technology. Coming on the heels of Avago's (AVGO) May 28 agreement to acquire Broadcom (BRCM), Bloomberg quoted a source later that day as saying Qualcomm, Intel (INTC), Altera (ALTR), Analog Devices (ADI), Maxim Integrated (MXIM), Texas Instruments (TXN), and Microchip Technology (MCHP) are all considering their own M&A opportunities. Note that on June 1, Intel announced an agreement to acquire Altera. On June 23, Semiconductor Manufacturing International (SMI), Qualcomm, Huawei, and Imec announced the formation of a joint venture to focus on a type of 14 nanometer technology. More recently, the Wall Street Journal reported on July 20 that Qualcomm is "expected" to begin a comprehensive strategic review which may include the possibility of a breakup following pressure from "activist" shareholder Jana Partners, according to sources, adding that the move could be announced concurrent with Wednesday's earnings release. STREET RESEARCH: Following last quarter's earnings report, Exane BNP Paribas downgraded Qualcomm to Neutral from Outperform, while both Canaccord and Brean Capital lowered price targets for the stock after "disappointing" guidance. Meanwhile, Citi said it expects the company's chip business to recover in 2016 despite this "very bad year." On May 28, CLSA said it sees continued pressure on Qualcomm chipsets, potentially spurring the company to consider making an acquisition, and on June 2, Craig-Hallum noted that Skyworks (SWKS) would be a great fit for Qualcomm. On June 24, Summit Research called Applied Micro Circuits (AMCC) an "affordable" target for Qualcomm, with AMD (AMD) and Cavium (CAVM) also looking like potential takeover candidates. On June 29, Drexel Hamilton downgraded Qualcomm to Sell from Hold, citing expected price cuts. Lastly, following media reports on July 20 that Qualcomm could be weighing a breakup, Bernstein said that such a "dis-synergistic" split would likely destroy value rather than create it. PRICE ACTION: Shares of Qualcomm are down more than 1% to $64.37 in afternoon trading ahead of Wednesday's earnings report.
10:15 EDTMATOptions with decreasing implied volatility
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10:01 EDTAEMOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AMC Entertainment (AMC) upgraded to Buy at MKM Partners... Agnico Eagle (AEM) upgraded to Buy from Hold at HSBC... Allegiant Travel (ALGT) upgraded to Outperform from Market Perform at Raymond James... Amazon.com (AMZN) upgraded on positive outlook at JMP Securities... Bank of Ireland (IRE) upgraded to Buy from Neutral at Nomura... Canadian Pacific (CP) upgraded to Buy at Canaccord... Carrizo Oil & Gas (CRZO) upgraded to Outperform from Neutral at Credit Suisse... Concho Resources (CXO) upgraded to Outperform from Neutral at Credit Suisse... Crown Castle (CCI) upgraded to Buy from Neutral at Citi... Exxon Mobil (XOM) upgraded to Conviction Buy from Buy at Goldman... Fidelity & Guaranty Life (FGL) upgraded to Outperform from Neutral at Macquarie... First Interstate (FIBK) upgraded to Buy from Hold at Sandler O'Neill... Hess Corp. (HES) upgraded to Outperform from Neutral at Credit Suisse... Intuitive Surgical (ISRG) upgraded to Buy at Canaccord... J.C. Penney (JCP) upgraded to Buy from Neutral at Buckingham... Murphy Oil (MUR) upgraded to Neutral from Underperform at Credit Suisse... Noble Energy (NBL) upgraded to Outperform at Credit Suisse... Packaging Corp. (PKG) upgraded to Outperform from Market Perform at BMO Capital... Prologis (PLD) upgraded to Outperform from Neutral at Baird... Signature Bank (SBNY) upgraded to Strong Buy from Outperform at Raymond James... Sonic Automotive (SAH) upgraded to Buy from Neutral at BofA/Merrill... Tate & Lyle (TATYY) upgraded to Neutral from Sell at Goldman... Technip (TKPPY) upgraded to Neutral from Sell at Goldman... Union Bankshares (UBSH) upgraded to Buy from Neutral at Compass Point... Yamana Gold (AUY) upgraded to Buy from Hold at HSBC... Yara (YARIY) upgraded to Neutral from Underweight at JPMorgan.
10:01 EDTCNMDOn The Fly: Analyst Downgrade Summary
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08:58 EDTCNMDCONMED downgraded on outlook concerns at Northland
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07:52 EDTCNMDCONMED downgraded to Market Perform from Outperform at Northland
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07:02 EDTAEMAgnico Eagle upgraded to Buy from Hold at HSBC
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05:32 EDTAEMAgnico Eagle upgraded to Buy from Hold at HSBC
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