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Stock Market & Financial Investment News

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July 21, 2014
10:02 EDTAUO, SAVE, SHPG, RKT, RH, MNST, MTRN, ITRI, LFL, IGT, GRT, EZPW, DVA, AMOV, AMX, WFCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AU Optronics (AUO) downgraded to Sell from Neutral at UBS... America Movil downgraded to Underweight from Equal Weight at Morgan Stanley... DaVita (DVA) downgraded to Market Perform from Outperform at Raymond James... EZCORP (EZPW) downgraded to Neutral from Buy at Sidoti... Glimcher Realty Trust (GRT) downgraded to Market Perform at Raymond James... International Game (IGT) downgraded to Hold from Buy at Stifel... Itron (ITRI) downgraded at BofA/Merrill... LATAM Airlines (LFL) downgraded to Neutral from Buy at BofA/Merrill... Materion (MTRN) downgraded to Hold from Buy at KeyBanc... Monster Beverage (MNST) downgraded at Morgan Stanley... Restoration Hardware (RH) downgraded at BB&T... RockTenn (RKT) downgraded to Neutral from Outperform at Macquarie... Shire (SHPG) downgraded to Market Perform from Outperform at Leerink... Spirit Airlines (SAVE) downgraded to Equal-Weight from Overweight at Evercore... Wells Fargo (WFC) downgraded to Hold from Buy at Rafferty Capital.
News For AUO;AMX;AMOV;DVA;EZPW;GRT;IGT;LFL;ITRI;MTRN;MNST;RH;RKT;SHPG;SAVE;WFC From The Last 14 Days
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October 14, 2014
10:26 EDTWFCWells Fargo sees Q4 mortgage originations lower due to seasonality
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10:16 EDTWFCWells Fargo CEO says housing market 'not fully recovered'
CEO John Stumpf says path to full economic recovery remains uneven, but says "optimistic" about the future. Says has never seen credit better in his 32 years with the company. Says housing market has not fully recovered, as there are several factors holding it back from full recovery, including unavailable inventory. Sees housing market continuing recovery. Says residential real estate market better, but not fully recovered. Says U.S. economy benefiting from domestic oil and gas. Says household formation still at low levels. Says has significant amount of cash to deploy. Sees ability to grow net interest income over time. Comments made on the Q3 earnings conference call. Wells Fargo shares are down 1.6% in morning trading.
10:01 EDTAUOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AU Optronics (AUO) upgraded to Neutral from Sell at UBS... Antero Resources (AR) upgraded to Buy from Accumulate at KLR Group... BHP Billiton (BHP) upgraded to Neutral from Underperform at Credit Suisse... Bill Barrett (BBG) upgraded to Buy from Accumulate at KLR Group... BorgWarner (BWA) upgraded to Buy from Neutral at Goldman... CRH Plc. (CRH) upgraded to Buy from Neutral at Citigroup... Comstock Resources (CRK) upgraded to Buy from Accumulate at KLR Group... Cracker Barrel (CBRL) upgraded at Argus... Delphi Automotive (DLPH) upgraded to Buy from Neutral at Goldman... EOG Resources (EOG) upgraded at Bernstein... Eaton (ETN) upgraded to Overweight from Equal Weight at Barclays... Energizer (ENR) upgraded to Outperform from Market Perform at Wells Fargo... Energy Transfer Equity (ETE) upgraded to Outperform at RW Baird... Federal-Mogul (FDML) upgraded to Neutral from Sell at Goldman... Ford (F) upgraded to Neutral from Underperform at Buckingham... Gulfport Energy (GPOR) upgraded to Accumulate from Hold at KLR Group... Halcon Resources (HK) upgraded to Buy from Hold at KLR Group... HeartWare (HTWR) upgraded to Overweight from Neutral at Piper Jaffray... Helmerich & Payne (HP) upgraded to Outperform at FBR Capital... Legg Mason (LM) upgraded to Neutral from Underperform at BofA/Merrill... Level 3 (LVLT) upgraded to Buy from Hold at Gabelli... Magnum Hunter (MHR) upgraded to Buy from Hold at KLR Group... NetScout (NTCT) upgraded at DA Davidson... Netflix (NFLX) upgraded to Buy with $600 target at BTIG... Newfield Exploration (NFX) upgraded to Buy from Hold at KLR Group... Nielsen (NLSN) upgraded at Bernstein... Orbitz (OWW) upgraded to Outperform from Market Perform at FBR Capital... PDC Energy (PDCE) upgraded to Buy from Hold at KLR Group... Rackspace (RAX) upgraded to Buy from Hold at Evercore... Range Resources (RRC) upgraded to Accumulate from Hold at KLR Group... Rex Energy (REXX) upgraded to Buy from Accumulate at KLR Group... SM Energy (SM) upgraded to Buy from Accumulate at KLR Group... Sanchez Energy (SN) upgraded to Buy from Accumulate at KLR Group... Targa Resources (TRGP) upgraded to Buy from Accumulate at Tudor Pickering... Unilife (UNIS) upgraded to Buy from Neutral at Ladenburg... Universal Forest (UFPI) upgraded at Sterne Agee.
09:40 EDTWFCWells Fargo sees operating within 55%-59% efficiency ratio range in Q4
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09:13 EDTWFCOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Johnson & Johnson (JNJ), up 1%... Dominos Pizza (DPZ), up 2.7%. ALSO HIGHER: Citigroup (C), up 2.5% following earnings report, announcement of plans to exit consumer businesses in 11 markets... MagneGas (MNGA), up 14% after signing Letter of Intent with Pioneer Recycling... Skyworks (SWKS), up 6% after raising its outlook for Q4. Shares of peers Avago (AVGO), NXP Semiconductors (NXPI) and RF Micro Devices (RFMD) are also moving higher in pre-market trading after Skyworks pointed to "broad-based strength" of its business in raising its outlook... Halcon Resources (HK), up 6% after upgraded at KLR Group... Quantum (QTM), up 8.8% after issuing Q2 earnings guidance. LOWER: Wells Fargo (WFC), down 1.4% after reporting in-line Q3 earnings... JPMorgan (JPM), down 1.8% after Q3 headline earnings miss... Las Vegas Sands (LVS), down 1% following downgrade at BofA Merrill Lynch.
08:16 EDTWFCWells Fargo reports book value per share $31.55 at quarter end
Reports Q3 net interest margin 3.06%, down from 3.15% at June 30 and down from 3.39% in prior year period.
08:14 EDTWFCWells Fargo reports Q3 Home Lending orignations $48B
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08:09 EDTWFCWells Fargo continues to see signs of steadily improving economy
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08:08 EDTWFCWells Fargo reports $300M reserve release due to improved credit quality
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08:03 EDTWFCWells Fargo reports Q3 EPS $1.02, consensus $1.02
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October 13, 2014
16:12 EDTAUOAU Optronics upgraded to Neutral from Sell at UBS
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15:24 EDTWFCNotable companies reporting before tomorrow's open
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15:18 EDTSAVESpirit Airlines volatility spikes as shares sell off
Spirit Airlines October call option implied volatility is at 66, September, November is at 68, December is at 59; compared to its 26-week average of 35 according to Track Data, suggesting large price movement.
13:40 EDTWFCWells Fargo October volatility increases into Q3 and guidance
Wells Fargo October call option implied volatility is at 31, November is at 20, January is at 19; compared to its 26-week average of 16 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on October 14.
07:26 EDTMNSTAB InBev has studied potential deal to acquire PepsiCo, Bloomberg says
Anheuser-Busch InBev (BUD), which has a history of growth via acquisition and has been speculated to be targeting peer SABMiller (SBMRY), has also studied whether a merger with PepsiCo (PEP) makes sense, according to Bloomberg, citing people familiar with the matter. The report added that one source said no talks between Anheuser-Busch and Pepsi are ongoing, no deal is imminent, and the scenario is among many that has been examined. The report also noted that Albert Fried views Monster Beverage (MNST) and Keurig Green Mountain (GMCR) as other suitable targets for AB InBev. Reference Link
07:19 EDTWFCAmEx, Capital One profits seen boosted by credit card 'sweet spot,' WSJ says
Credit card players such as American Express (AXP) and Capital One (COF), as well as banks with significant card units like JPMorgan (JPM), stand to benefit from the U.S. card industry's "sweet spot" of moderate economic growth, low interest rates and consumers who are better managing payments while growing their spending, said The Wall Street Journal, which noted that consulting firm R.K. Hammer estimates U.S. card issuers' revenue will grow 9% this year to $158.6B. Other U.S. banks with credit card units include Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC) and other card companies include Visa (V) and MasterCard (MA). Reference Link
06:44 EDTAMXAmerica Movil downgraded Sell from Neutral at Citigroup (last week)
Citigroup downgraded America Movil last Thursday to Sell citing the 20% share gain since August and tougher regulations in Mexico. Citi lowered its price target for the stock to $22.30 from $23.70.
06:44 EDTWFCRegulators seeking banks' auto loan data, Reuters reports
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00:04 EDTWFCBanking regulators want more disclosure on auto loans, Reuters says
Banking regulators are requesting that banks provide more details on their auto loan portfolios, says Reuters. Balances remaining on auto loans are rising and about a fifth of the loans are subprime, added Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Capital One (COF), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
October 12, 2014
13:03 EDTWFCBanks agree on derivatives procedures for future crisis scenario, WSJ says
Meeting at the Federal Reserve in Washington, top banking executives from 18 large U.S., European and Japanese banks agreed in principle to wait up to 48 hours before seeking to terminate derivatives contracts and collect associated payments from a troubled financial institution, says the Wall Street Journal. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
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