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Stock Market & Financial Investment News

News Breaks
January 31, 2013
10:17 EDTCLB, IPAR, ISIL, ALGN, CTXS, DB, FIO, VALE, AUDC, TNTEY, JDSUOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Arthur J. Gallagher (AJG) upgraded to Buy from Neutral at BofA/Merrill... Arthur J. Gallagher (AJG) upgraded to Outperform from Market Perform at Keefe Bruyette... AudioCodes (AUDC) upgraded to Outperform from Perform at Oppenheimer... Citrix Systems (CTXS) upgraded to Buy from Neutral at BofA/Merrill... Core Laboratories (CLB) upgraded to Outperform from Market Perform at FBR Capital... MB Financial (MBFI) upgraded to Outperform from Market Perform at Keefe Bruyette... Vale (VALE) upgraded to Buy from Neutral at BofA/Merrill... Align Technology (ALGN) upgraded to Overweight from Equal Weight at Stephens... JDSU (JDSU) upgraded to Buy from Hold at Needham... Fusion-io (FIO) upgraded to Buy from Neutral at Lazard Capital... Intersil (ISIL)upgraded to Neutral from Underweight at JPMorgan... MB Financial (MBFI) upgraded to Buy from Hold at Stifel Nicolaus... Arthur J. Gallagher (AJG) upgraded to Overweight from Equal Weight at Stephens... TNT Express (TNTEY) upgraded to Conviction Buy from Neutral at Goldman... Deutsche Bank (DB) upgraded to Neutral from Underweight at JPMorgan... Inter Parfums (IPAR) upgraded to Buy from Neutral at B. Riley Caris.
News For AUDC;CTXS;CLB;VALE;ALGN;JDSU;FIO;ISIL;TNTEY;DB;IPAR From The Last 14 Days
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December 18, 2014
06:35 EDTDBDeutsche Bank to examine strategy, may revise profit targets, Reuters reports
Deutsche Bank said it would examine its strategy next year, according to Reuters. The statement came after a business magazine said the bank was weighing major changes, possibly including revising its profit targets and selling its Postbank retail unit, the news service stated. Reference Link
December 17, 2014
07:20 EDTDBCapital Link to hold a forum
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December 16, 2014
08:48 EDTIPARAbercrombie & Fitch signs license agreement with Inter Parfums
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December 12, 2014
12:36 EDTJDSUSandell Asset comments on JDSU voting results
Sandell Asset Management issued the following statement after the release of final voting results from the JDS Uniphase 2014 Annual Meeting of Stockholders: “Sandell is encouraged by the support it received from JDSU stockholders, who together voted approximately 57.9 million shares 'AGAINST' current Director Martin Kaplan, or more than 34% of the shares voting at the Annual Meeting. Furthermore, Mr. Kaplan was elected with only 47% of total outstanding shares voting in his favor; approximately 35.4 million shares either voted to abstain or were broker non-votes. The fact that Sandell was able to generate such strong support without actively soliciting proxies from stockholders speaks in our view to the profound frustration of the investor base to the entrenchment actions taken by this company’s Board of Directors and its refusal to conduct a more fulsome process to unlock stockholder value. Sandell has appreciated its dialogue with the stockholders of JDSU, including conversations with some of the company’s largest institutional stockholders. Based on this dialogue, we feel that we have significantly heightened the awareness among stockholders of the company’s troubling governance practices, as well as focused the investor base’s fervent desire to see additional value delivered to the stockholders, who are the true owners of the company. Notably, calls for consolidation in the optical components industry are only growing louder, in our view reinforcing the need to conduct a formal sale process for the CCOP business. The formal communication of this sale process is paramount, as we believe most legitimate strategic acquirers will not dedicate the time and effort required to conduct due diligence and compose a credible offer for CCOP without the express consent from the company and the opening of a comprehensive data room. The fact that leading proxy advisory firm Institutional Shareholders Services noted how the actions of the company served to frustrate the exercise of shareholder rights, coupled with the resulting media attention criticizing the troubling steps that the Board had taken to impinge upon the shareholder franchise, should not go unheeded by the Board of Directors. Furthermore, we remind stockholders that the entire Board is up for election next year. These voting results should serve as a wake-up call to the Board of Directors that the stockholders will not sit idly by and allow their rights to be usurped, nor will stockholders allow the significant value associated with the company’s unique collection of assets to remain obstructed.”
10:01 EDTCTXSOn The Fly: Analyst Initiation Summary
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December 11, 2014
16:26 EDTCTXSCitrix initiated with an Underweight at Piper Jaffray
Target $63.
13:40 EDTDBEuro zone banks accepted $160B in low interest loans, NY Times says
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10:17 EDTDBFINRA fines Barclays Capital, Citigroup Global Markets, others $43.5M total
FINRA announced that it has fined 10 firms a total of $43.5M for allowing their equity research analysts to solicit investment banking business and for offering favorable research coverage in connection with the 2010 planned initial public offering of Toys"R"Us. FINRA fined the following firms. Barclays Capital (BCS) - $5M; Citigroup Global Markets (C) – $ 5M; Credit Suisse Securities (CS) – $5M; Goldman, Sachs & Co. (CS) – $5M; JP Morgan Securities LLC (JPM) – $5M; Deutsche Bank Securities Inc. (DB) – $4M; Merrill Lynch, Pierce, Fenner & Smith Inc. (BAC) – $4M; Morgan Stanley & Co., LLC (MS) – $4M; Wells Fargo Securities, LLC (WFC) – $4M; Needham & Company LLC – $2.5M. In addition, FINRA found that six of the 10 firms — Barclays, Citigroup, Credit Suisse, Goldman Sachs, JP Morgan and Needham — had inadequate supervisory procedures related to research analyst participation in investment banking pitches. Toys"R"Us and its sponsors offered each of the 10 firms various roles in the IPO but it eventually decided not to proceed with the offering. In settling this matter, the 10 firms neither admitted nor denied the charges, but consented to the entry of FINRA's findings.
10:13 EDTIPAROn The Fly: Analyst Initiation Summary
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07:49 EDTIPARInter Parfums initiated with a Market Perform at Raymond James
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06:40 EDTDBNY investigating Deutsche Bank, Barclays currency trading, Reuters reports
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December 10, 2014
09:35 EDTCTXSCitrix management to meet with William Blair
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December 9, 2014
14:57 EDTJDSUTelecom equipment stocks rally after Verizon CFO comments on wireless CapEx
Telecom equipment stocks, which opened lower, rallied after Verizon (VZ) CFO Fran Shammo said he sees wireless CapEx continuing to trend upward. Shammo, speaking at the UBS 42nd Annual Global Media And Communications Conference, said, "The day we start to cut wireless CapEx is the day we start to wonder where the future of this industry is going." Ciena (CIEN), JDSU (JDSU), and Finisar (FNSR) all reversed earlier losses. PRICE ACTION: In afternoon trading, Ciena is up 1.5%, JDS Uniphase is up 3.8%, and Finisar is up 4.5%. Verizon, which was downgraded this morning to Neutral from Buy by RW Baird, is trading down almost 5%.
07:41 EDTCTXSBarclays to hold a conference
Global Technology Conference is being held in San Francisco on December 9-10 with webcasted company presentations to begin on December 9 at 10:40 am; not all company presentations may be webcasted. Webcast Link
December 8, 2014
15:26 EDTDBDeutsche Bank sued by U.S. over alleged scheme to avoid income taxes
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15:10 EDTDBDOJ files suit against Deutsche Bank over income tax avoidance, Bloomberg says
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10:00 EDTDBOn The Fly: Analyst Downgrade Summary
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08:40 EDTDBDeutsche Bank and Cisco to host a conference call
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06:00 EDTDBDeutsche Bank downgraded to Underperform from Market Perform at Keefe Bruyette
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December 4, 2014
08:02 EDTVALEVale downgraded to Neutral from Buy at BofA/Merrill
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